what's relevant to people right here. wednesday is a big day. thank you guys for joining us on "closing bell." really appreciate it. that does it for us. "fast money" coming up in moments. melissa lee, what's on tap? >> hey there, kelly. we could be hours away from an iranian deal. we're going to have dennis gartman on to difference the oil trade ahead of that. >> great stuff. straight over to you guys. >> thanks, kelly. "fast money" starts right now. live from the nasdaq marketsite overlooking new york stees's times square i'm melissa pleep traders on the decemberric pete najarian, steve grasso, karen finerman and guy adami. tonight on "fast" a new report shows apple is 92% of all smartphone profit. so why isn't the stock moving higher? we'll tell you the surprising reason that could have apple investors running for the exits. plus, the beaten-down sector that could get a huge boost in this week's potential iran deal. we'll tell you what it is and how the traders are making money. but first we've got to get to the markets here. the dow up 400 points in just the past two days with some members on this desk say this is not the all clear for stocks yet. guy adami, why not? >> i don't know if it's the all clear, but i think technically

speaking it's the all clear. we held exactly where we should have. steve grasso's levels of 2050, 2054 in the s&p is exactly where we traded down, held a couple of times last week. the russell, the iwm held that 121 level that we've talked about forever. transports have been fwh their own world. we won't talk about them. but technically the market's done everything it should. to me, especially entering earnings period right now, we're setting up to take out that 2135 level in the s&p. the all-time high we made a couple months ago. >> with the markets where they are right now it is as if greece and china were never problems this past month. >> yeah, trading as if that's resolved. and i think to take the position here that the greece situation is over seems very, very optimistic. we've seen the line in the sand get moved so many times. we need still approval from the parliament. that would seem to be a very big deal. so i don't think that there's more rally to be had if they do agree. but i do think there's more down

side, reversing the gansz we had. i think it's very far from over. today we bought a fair amount more protection. we tried to sell it when it's higher. we did an okay job of that. i'm not trading around my positions. i just trade around the hedge. the volatility index really got whacked today. could it go down further? sure. but it broke 14, below 14. i think it's relatively cheap here given that the world is still very uncertain. >> greece is still an open question. china has stabilized and gained in the past few sessions but only half the stock market is trading and we are on the eve of a huge flood of earnings, steve. >> that only creates more volatili volatility, more illiquid markets when you do open up all the exchanges. it's like when you shut down the banks it doesn't really solve anything. it just creates that bottleneck, that logjam when people eventually want to get their money out or get their money out of the stock market for that matter. so i do not think the all clear sign or the all clear bell should have rung. i don't think it's there yet.

>> whether or not it's rung or not the facts are we had a vix that was just trading 20. we kissed on 20 on thursday. and here we are now underneath the 200-day, under neath the 50-day, 14140 and we closed underneath 14. the volatility has come out of the markets and we're going into earnings season. i'm with karen. i don't know that greece is necessarily resolved by any stretch. there are still all kinds of different types of things going on that the government's trying tone act in china. puerto rico's still somewhere in the world as well. and of course everything going on with iran as far as the nuclear world. so there is a lot out there and the fact our volatility is low i think it's shocking, it's a great opportunity and i think buying protection again. by the way, somebody hit me on twitter the other day. they said, well, if you buy volatility down here, when it goes up, if you don't sell out you lose money. the point is you want to have protection so you can have a clear mind, be able to buy when you want to buy at certain levels unless you don't have that on. you can't buy at those levels. sow need that protection in

place. it's an insurance policy you never want to necessarily cash. >> is this the kind of setup you want ahead of big financial earnings? and we'll get into that a little later on the show. but just overall for the markets is this the kind of setup you want? >> when is it ever an all-clear sign for the markets? the answer's really never when you think about this. everything's hanging out there. i agree wefrg everyone just said. but i'm looking at technical levels. it's done everything that it needed to do on the down side. to me now the surprise is to the up side. i think the pain trade right here is to the up side. why? i still think there are a lot of people looking for that flush to the up side. pete and karen spoke to volatility. we have seen the vix trade as low as 12 or so. a 12 handle on the vix probably gets you 2140 or so in the s&p. >> with stocks quickly erasing gains overt year for the past week is it too far too fast for the s&p 500? grasso's going to break down the levels over at the smart board. what are you watching? >> guy just talked about a couple of different levels. let's look at the 50-day moving

average. this is right around 2100 in the s&p cash. and then you have this cluster right here where you see the 50-day sort of rolling over right there onto the 100-day. here's the problem. we've been banging around between the 50 and the 100-day for quite some time now. that's changed now. now we're banging around between the 100 and the 200. so it's very far off to say this is all clear. here's the most important thing. and i pointed this out a couple of days slash weeks ago. this is the last time we broke the 200-day moving average. that was in october of 2014. prior to that it was two years. look at how quickly we made that break again. we've been banging around making a series of lower highs. this is the level you want to watch. guy spoke about it. 2134. this is the new low. we've established a new low. that was the clean break, a violation of the 200-day. i would look for further weakness before we can say we're out of the woods.

this is definitely a relief rally. it was china. it was greece. none of those things in my book are resolved. >> so the technicals look like they're backing up. the fundamental take here on the desk. and karen, if you do believe that there could be another shoe to drop, that greece is not resolved, we're back at levels we were at a month ago, are you taking some profits or are you trimming at this point? >> occasionally we'll sell some out of the money calls on things. but really the most trading we do is around the hedge because i find it so hard to hope to sell my, you know, long core positions and then get back in at the right time and then you've got to think about taxes. so i would rather that as we head into the bank earnings season i would rather that the bar were lower. it actually has gotten a lot higher in the last three days. but i do think we're going to see some good bank earnings coming up. >> quickly is this a gift to trim? >> yeah, exactly. you said it perfectly. i think it's a great opportunity. because if you had the bullets, if you were able to buy anything over the last previous three, four trading days when we had those pushdowns toward those

levels steve's talking about, now you've got a trim. and with low volatility this is the other aspect you can use, this volatility again. you can roll up. in other words, you had something on and something like a citi and that bank stock ran to the up side and it's made a huge move. you can roll out of those positions. i'm doing exactly that. i did it in las vegas sands today. that thing ran. it's up $5 in like a week. great opportunity to roll up for anything more that still exists. >> up next, amazon launching a promotion that could make wednesday the biggest day ever for online sales. but an unlikely winner could emerge and we'll tell you what that name is. plus david einhorn trashes netflix. ahead of the hedge fund's comments and what has him so upset over "house of cards" and the stock. and later the surprising winners and losers off a potential iran nuclear deal. all that and more ahead on "fast." [dad]i wear a dozen different hats

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check out shares of valero in the after hours trade. 39,000 shares have traded. up 1.7%. is this after the company declared its regular dividend but also said it was adding $2.5 billion to its share buyback

authorization. it had 400 million remaining on a prior one. the total share buyback authorization at valero amounts to about $2.9 billion. hence the reaction of those shares. we'll keep an eye on valero and other refiners. back over to you. >> dom chu, thank you. guy adami, you like the refiners. >> one trade that's marked has been the refiners. you had a couple days where they were both sold off, valero and tso. but look at the performance over the last week or so. both of them are very cheap in terms of valuation. valero make the move in the after market. i think you still have to stay with both of them into earnings. >> the battle for the best discount retailer rages on. this time it's walmart taking direct aim at amazon. the big box retailer launching a rifle sale this wednesday to combat amazon's prime day. walmart's sale will include more than 2,000 online exclusive rollbacks. items will include electronics, home, baby and toys. walmart also reducing the minimum order for free shipping from 50 to 35 for at least 30

days. pete, will this make a difference? >> well, it's definitely an assault that walmart's deciding they're going to have to actually take this on even more. far more aggressive. and also the pitch they're putting out there is you don't have to pay a fee to get these kind of rates, which are actually going right after the prime customer. they've got to pay $99. two days free shipping, all the rest of that. direct shot by walmart. whether this moves the needle i don't think it hurts but it makes walmart relevant. they're going after the online world. they already have extremely tight margins. we all know that. i think it's going to be a fight between these two. this is not unusual. we've seen targets do this in the past. we also know best buy does this. everybody sort of does this mid-year sort of competition. but this time walmart's going right after amazon. >> i feel like next earnings season we're going to hear about this from walmart saying this was a challenge to their margins. >> to their margins? >> yeah. >> here's the thing i never understand. the same items sold at walmart and at amazon will get a p/e of infinite, an infinite p/e on an amazon sale even though they

make no margin or practically no margin and walmart, granted it's thin but it's not like they don't have scale. they sell a billion dollars of stuff a day. i think it's good for them to do. at 15 times it is astounding to me. with a 2.6% yield that it doesn't get some of amazon's valuation. >> target's killing them too as well. when people compare -- i put target more at walmart than i do amazon. >> next up a huge dave gains for fitbit, this after several firms initiated coverage on the wearable company. piper jaffray, bank of america, stiff'll and suntrust all saying it's a buy while deutschebank rate td a neutral. fitbit having much better brand recall than the apple watch. >> we asked almost 2,000 people or so if they'd heard of these different devices and fitbit had the highest recall but appsale is right behind it. but when we followed up with the question of with what percent of you would therefore want to go buy that unit, fitbit had over

60% share and apple sells a 20% share. >> grasso's in it. >> i'm in it. in the beginning i thought, you know, are they going to be the gopro of the fitness arena, are they going to be the iphone of that market. and it seems to me, to bob peck's point, that they are that name brand. they're the name brand that you want to buy. is it going to be forever? i'm not sure. but bulge bracket firms have to own this. it's the only clear play in this type of market. i'm still long and i think it goes much higher from here. >> raymond james also had initiation today and in that initiation they said this is a land grab sort of period for the wearable space. and once you get these people they're going to stick around because they want to compare their health data over time. they don't want it just now. they want it versus like a year ago. >> one of the names we talked about had it rough now. almost a year has been garmin. you had a "barron's" piece. i think that one of the names that people are not focused on for a lot of different reasons, probably a lot of the right reasons but given where the

stock has traded down, to is garmin. i think there's a lot of upside in grmn right here. >> next up apple a heavy dose of news on the stock. apple commanded 92% of the total smartphone industry profits in the first quarter while soft gen upgraded the stock from a buy from a hold and di gichlt times reporting apple will release the i pad pro in september. the stock more broadly has been stuck. >> languishing. i'm glad it traded down to 120 last week, whatever day it was. maybe it flushed some people out. i'm surprised it got that low. we were talking about 122 being the line in the sand. it doesn't matter. close enough. it has gone nowhere since february. we all know the fundamentals. so i won't bore you. i will say this. i do think the risk is to the up side in this name. i think everybody's trying to talk it down. everybody's trying to say let's wait for it to get down to 108, 110, 1 teens to buy at post earnings. i don't think you'll get that shot. i think they report next wednesday. i think they will surprise you. i think you'll hear the rhetoric from carl icahn afterwards.

the stock goes higher. >> what do you mean everybody? i feel like wall street has been largely sticking to their buy ratings or defending the stock against concerns -- >> it's funny. what i've learned is you hear what you want to hear. maybe i've just heard the negatives. for me i've heard a lot of the negative lot of the reasons is nathan and i are together a lot. there are people who make cogent arguments for the down side. i don't think it goes there is my point. i think people are waiting. i think they're going to be disappointing if they did. >> torgether a lot of the time. >> i love dan. and "options action" this friday at 5:30. >> david einhorn slamming "house of cards." but it's what he said about netflix stock that could be a serious cause for concern. kate kelly will join us in a live special report. in the meantime here's what else is coming up on "fast." >> it's the three stocks that could determine how the market trades this week. we'll tell you what they are and how traders are planning to make money off them. and later, "fast money's" heading to the ballpark.

as the 86th major league baseball all-star game kicks off tomorrow in cincinnati. we're sitting down with the mlb commissioner to talk the business of baseball. and a-rod's all-star snub. >> i was pissed off. >> plus the traders lay out their all-star stock picks for the year. all that when "fast" returns. ♪ put me in coach it took tim morehouse years to master the perfect lunge. but only one attempt to master depositing checks at chase atms. technology designed for you. so you can easily master the way you bank.

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netflix shares hitting a new high today but that didn't stop hedge fund titan david einhorn from making some pretty nasty comments about "house of cards." and that's not all he said. cnbc's kate kelly's got the details. kate. >> hey, melissa. you must be referring to the fact that einhorn said in his q2 letter that he thought season 3 of "house of cards" was set in order to compete with ambien. but he had some other witticisms too. he said when it comes to the first quarter for netflix and the big earnings miss that they had apparently red ink is the new black. he thinks that the company's being judged more on what it spends than what it earns. now, specifically he was concerned because he saw that the adjusted earnings for q1 fell well short of the estimates. if you take a look at thomson 1 numbers you see expectations in the high 60s and actual in the high 30s. einhorn's numbers that he used different by a few cents. but the principle is the same. big miss. yet you saw a 12% rally the next

day. looking at this week the question is are they going to be able to live up to their earnings expectations which granted are much lower particularly based on the forecast they gave during the quarter he's talking about. they're in the low 30-cent range. but we don't know whether they're going to be able to be on target or not. interestingly about einhorn, even when it's not entirely clear that he's in the stock or short the stock, which is the case here, he doesn't appear to be long netflix but he doesn't outright say he's short it either. his words have huge impact. take a look at some names he disparaged in the past. athena health. that was from the conference in stwf. he gave them a drubbing, said they were the poster child for what a bubble basket that he was shorting. that was his term. stocks that were overvalued for apparently no reason. down by double digits since then. same principle this year with pioneer natural resources which you'll recall he referred to as the mother fracker, said they were way too optimistic about what was happening especially

given the price of crude in the markets and the cost of drilling, et cetera, made fun of their accounting techniques. again, down by double digits. netflix appears to have shrugged that off a little, melissa. they actually did great today. we'll see if there's any impact in the coming days but so far the market's still supportive. >> all right. kate kelly, thanks for that. david einhorn not the only reason to talk netflix shares. surging 4% today on the back of a price target increase at goldman sachs to $780 a share. and this as comcast jumps into the streaming wars with a new service for cord cutters that costs only 15 bucks a month. so how much of a threat does comcast pose to services like netflix? btig's rich greenfield is the most bullish netflix analyst on the street. he's got a $950 price target on the stock. rich, great to have you with us. >> thanks for having me. >> even at the margins discuss comcast's stream service, will that hurt? >> look, anything that encourages more consumers to leave the $70, $80 i month bundle plus the cost a box, you're talking even more than that, anything that knocks that is great for all streaming

services including netflix. so that bundle frays, it really frees up a tremendous amount of consumer dollars to spend on hbo now, comcast stream, netflix, hulu, you name it. i think the big opportunity -- remember, 100 million people, essentially, take the multichannel bundle. as that number starts to come down and you have all of this disposable income to put toward these much cheaper services, that's the big subscriber opportuni opportunity. that's why netflix is so compelling right here. >> there's an argument to be made this might not hurt netflix. the caveat here for the comcast service is you that need to be a broadband subscriber. so either people have to upgrade or people with full cable broadband services will downgrade their cable package. how do you see this playing out? >> that's what you're talking about, is you're going to see people when they're given options. you really haven't had much of an option in multichannel television. it was here are the bundles, gold, silver, platinum or whatever the package from the different cable operators was.

as you introduced choice and you had far many more different ways, cable vision's got a cord cutter bundle, comcast has stream. you're looking at all different ways for the consumers to gain access to content cheaper. they may simply want to go broadband only and buy some of these over-the-top services like netflix and amazon and hulu. but all of it just creates consumer choice. and when you bring that back to the consumer, that's why netflix is moving so fast and that's where we disagree with greenlight from the standpoint this is not an earnings miss. netflix is consciously trying to spend in the near term to capture market share. they see a very big opportunity to gain market share. they're trying to do and execute what they've done domestically and expand that overseas. we have a number far le below the street because of how much we think they're going to earn overseas. >> rich greenfield, btig. how do you trade, this pete? >> i think you've still got to look, and we've been talking

about this for a long time, everybody's focusing on the margins. the margins are one thing. the other is how fast and how much can they actually gather in the international space? that's what everybody seems to be looking at. every analyst on the street seems to look to 2020. that's where we start to see the critical number really accelerate to the up side in terms of international versus the u.s. i think when you look at the options they're extremely expensive. the stock is expensive. there's a lot of reasons to stay away from the stock right now, but it's still compelling. you love the story, you love the growth. and i know rich has got a 950 target. it might take a little while to get there. but it's tough not to like netflix and what they're doing right now. >> pete just talked about international. the only problem on international is they have a licensing issue. everyone thinks that's a tremendous growth spot, and it is. but the problem is if they're fighting with different countries over licensing, even licensing some of their own stuff that they already own in their library, that's going to be a problem for them going forward. >> as a trade how do you trade it into earnings? >> we have said stay long this stock. after carl sold off his stake,

we've tried to stay with this thing, stay long into earnings. i still say stay long the name. i get everything david said about netflix, you could have said $300 ago. i think that's an accurate assessment. there's a giant land grab going on. i think reed hastings has taken one misstep over the last six or seven years since he's been doing this. and i don't think netflix is as easily replicated as people make it out to be. i think you stay long the name. >> quick programming note. this wednesday is our annual delivering alpha conference. wall street heavyweights like bill ackman, nelson peltz, jeff dunlop and paul singer will be sharing their top ideas for the year. we'll hear from blackrock's larry fink as well and carl icahn. so you will not want to miss that. again, this wednesday. coming up next, oil has gone up 13% in just the past month but this man here has ab undn under radar play that could get a boost or that decline. plus it's all-star week and we've got your all-star stock picks, names that could be a home run for your portfolio. stay tuned. the challenges of keeping everyone working together can quickly become the only thing you think about.

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welcome back to "fast money." stocks starting off the week on a high note with broad gains across the board on news of a debt deal for greece. the dow climbing 217 points in its third straight day of gains. the strongest stretch since early february. but today's pop, the dow has once again turned positive for

the year. here's what's coming up in the second half of "fast." big banks on deck. jpmorgan, citi, bank of america all out with earnings this week. we've got a top analyst who says there could be some big surprises in store. he'll lay out his top picks next. later, "fast money's" heading to the big leagues as baseball's all-star week gets under way. we'll talk with mlb commissioner rob manfred about the biggest issues based in the league. and find out which all-star stocks are grabbing the traders' attention. we start here with iran. a deal could come to fruition as soon as tonight. what will that mean for the price of oil? cnbc's deirdre bosa's got the details. hi, deirdre. >> hey, melissa. when iran nuclear negotiations advance, oil and gas retreats. that shouldn't come as a surprise. it makes sense, right? oil and nat gas take a hit because you lift sanctions on iran and there's more oil to sell on the already oversupplied oil market. but we used kensho analysis to see just how much these advancements weigh on the industry. went back to 2012 when the talks resumed. first, of course, oil and nat gas the assets themselves they

do take a hit when the talks get moving. they fall some 1 1/2 and 1.8% respectively in the week following the talks. over the instances where we've seen the iran program move forward they've been negative 60% of the time. we also looked at oil and gas companies and we saw they also felt the pain when iran and the west get together and get closer to a deal. royal dutch shell, though, has been the worst performer, down 1.2% over these 20 instances. other big names. chevron, exxonmobil. they also see red after talks heat up. however, they don't tend to fall as far as royal dutch shell. and also, guys, i want to give you two names that do hold up relatively better than some of the ones i just mentioned, though this is all relative. they still underperform the broader markets. but they are baker hughes and total. over the 20 dates that we looked at they've actually been slightly positive. this is in the weeks after talks move forward between iran and the west. there you have it.

of course advancements in the iran nuclear program spell retreats in the oil and gas sector. but some are a little more resilient than others, and two names may be a surprise. i'll let you guys debate why. but total and baker hughes. back over to you. >> thank you so much. dreerd rie bosa. steve grasso, what's your favorite pick in the oil space? >> i think you've got to go with enp companies. they've underperformed. i agree with guy, you see the refine refiners, as long as wdt continues to come in that's their market cost. how much longer can they underperform the entire space? >> let's stick with oil here. dennis gartman of the gartman letter says there is one group that stands fwoechbt the most from a nuclear deal in iran. dennis joins us now from virginia beach. dennis, always good to see you. >> good to be seen. >> what group would that be? what stock group would that snb. >> the ones that seem to have done the best job over the course of the past several months especially as the term structure in the futures markets have gone out to an ever-widening contango at least in the course of the past month

and a half, are the tankers. i have no interest in owning container stocks, the companies that ship containers on boats. i have enjoyed and want to continue to enjoy owning the tankers. that seems to me to be the logical place to go. if you take a look at the tanker shares they have been moving from the lower left to the upper right on a consistent basis. and as long as the contango stays out in wti past $4, and we're getting out toward $5, at one time earlier this year the spread was out to as large as $9. but as long as we stay above $4 i think that owning tankers makes sense. i like guy's idea of owning the refiners because indeed the declining price of crude oil is going to be their major input cost. that's going to anure to their benefit. but the tanker is something no one's paying attention to and they have been going nicely from the lower left to the upper right. tankers is where you should be. >> just to put this in the context of the iranian deal, the

thinking would be perhaps there would be more oil coming onto the market, there would be more oversupply and therefore more need to store it. >> yes. that's exactly what's going to happen. we forget that back in the 1970s and early '80s iran was producing about 6 million barrels of crude oil per day. now they're down to about 4.5 million. they will get to 6 million barrels over the course of the next two years. but what's really important to understand is that their avowed enemy, the saudis, are simply going to defend their market share as much as they can. if we have this iranian talk come to fruition, if iran's sanctions are taken off, if iran is allowed to move into the market, saudi arabia will make sure they continue to maintain their market share. this is going to be a very distinct war between those two countries. and it's going to i think work to the benefit of the tankers, who are going to -- there's already 40 or 50 tankers somewhere in the indian ocean and the persian gulf. the iranians deny they're there, but you can see them on the internet. they are in fact there. >> all right, dennis, good to speak with you. thank you. >> thanks, melissa.

>> dennis gartman of the gartman letter. karen, last week you said -- or maybe it was two weeks ago, a tanker interested you. >> well, dht. >> did you get in? >> no, i didn't. he talked about the contango. it's less, considerably less than it was. so i don't know if the market's sort of pricing this in already or not. we do have dorian, which is in a different tanker business, propane, not oil. that one i think is interesting. >> guy. >> i think you stay with the refiners. dennis. karen's been on these shippers and tankers, but the refiners to me win. i think they're still cheap on valuation. i think they're both dlo and tso are breaking out. >> i agree with the refiners. i go right back to airlines. i know i said it a million times on the show. but i tell you what, i'll continue to say, when the earnings come out, then we'll actually get the real story behind it and phil lebeau is lighting up a few things i think today telling everybody about some of these fees, the $38 billion in fees, and you look at some of these numbers, they are extraordinary. i think there are names out there is, very illiquid name like allegiant but i think the

big three still stand out and i think united has the most up side. >> speaking of airlines we've got a market flash on spirit airlines dropping after hours. dom chu's got the details. dom. >> how appropriate, melissa. guys, let's talk about spirit because the shares are down by about 6% in after hours trade that's very light. only about 7300 shares have traded so far. but you can see the chart after hours there. what's happening is spirit has filed with regulators an s.e.c. form where they lower their guidance both for the second quarter and for the full year. in the second quarter due to the heavy number of cancellations and weather-related events that happened during this second quarter of 2015. they've also used that and in addition to that pricing pressures from the other carriers in the industry. and they've used that as a reason why they're going to lower their full year guidance as well. spirit air shares you can see down by about 6% after they lowered current quarter and full year guidance because of things like bad weather and pricing pressures from the rest of the business. back over to you, melissa. >> thank you, dom chu. at one point spirit airlines had been a darling in the sector. i think it was last year. >> absolutely.

had an absolutely incredible run to the up side. but this is the one airline that's not seeing the rebound that the others are seeing. i'm talking in the last couple weeks. about a 10% move across the board. when you look at united, american, delta, jetblue, all those up about 10% over the last maybe eight, ten days. and yet you're not seeing that same move. >> you always have to go with winners in this space. if you look at -- if you want to talk about a name that used to be a darling, luv. luv used to be a real favorite in the space. that one has fallen apart completely. it's down 20% year to date. if you want to buy a largd, luv. >> time for pops and drops, big movers of the day, drop for cingenta. >> monsanto is the acquirer. this one is up 26%. monsanto's down 9%. last check monsanto ceo said he's going to wait for syngenta's earnings, which are due out july 23rd. maybe a little volatility. >> pop for pepsico up 2%. >> on a day when susquehanna

downgraded the stock. the stock was higher. the tape helped obviously. i thought the quarter they reported last week was good. better eps, better revenues. and improving margins. they traded the same multiple as coke. i think pepsi deserves a bigger multiple. i think it goes north of $100 over the next few days. >> pop for wynn resorts up 4%. >> we've got some great inside looking when we were looking just about a week and a half ago. wynn was getting bought in terms of the options. las vegas sands is one of the names i talked about at the top of the show folks were rolling up today but wynn and las vegas sands when you look at macaw right now everybody always looks to that as the negative. over the last week and a half or so it's been a positive, moving to the up side against the stream. and if you look at wynn and vegas sands that exposure in terms of smoking ban maybe getting relaxed a little bit i think that was the fuel behind it. back up over one of the moving averages. i think the stock's on the mend. >> pop for ascena down 13%. >> dress barn. awful name. radio shack. aside from that, though, other issues. their lane bryant division.

poor dress sales. justice. their teen division. poor sales there. teen division is a problem in general. that's been -- for anybody teen retailing is difficult. it's not expensive but i think you stay away. a lot of times one bad quarter does not live alone. >> and a pop. move over tinder. there's another dating app in town but this one uses your heartbeat. a hands-free dating app for the am watch. the way it works is simple if your pulse speeds up it's a match. now, you can find love at the flick of your wrist. >> that's awful. >> it is awful. kelly clarkson, first a.i. winner. >> are you kidding me? >> that's heartbeat. that's trade school. >> all the way. >> coming up, jpmorgan, goldman sachs, bank of america, citigroup all out with earnings this week. a top analyst tells us which banks could be the biggest losers. plus we'll tell you how one

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bankz. jpmorgan, bank of america, citigroup all out with earnings this week. sander o'neill partner joins us from chicago with the biggest surprises coming out of those records reports. jeff good to see you. i want to key straight into what you think will be the big loser this skaenz and that is bank of america. why is that? >> the trouble i keep having with bank of america is revenue growth. i'm assuming they get the expense saves but as long as the loan portfolio keeps ticking down and we don't get the interest rate relief i just have trouble growing their top line. now, if you compare them to the overall market, if we get some interest rate relief, maybe we'll see some revenue growth. when you start trying to compare them to a citi or goldman sachs or jpmorgan. i've struggled to find the revenue growth. there should be a decent quarter for them on a nim basis, kind of an accounting distinction. it should be decent for them but i still have trouble getting my numbers up to where the street is for them on the revenue side. >> it's karen. i'm long bank of america action, long a lot of the names you cover. but it doesn't seem like the

stock's way ahead of itself in terms of valuation but is there a potential catalyst later this summer if they revisit their capital allocation plan? >> i suspect not. they certainly can. i don't think they're going to have any problem getting their advanced approach methodology stuff approved. but going back to the fed to try to get more can be kind of a hassle and it opens you up to other subs. i'm not so sure they'll do that. the thing that could xwif the stock some other tailwinds going forward is interest rates. when you talk to financial guys like myself, we all say, wow, everybody expects rates to go up by the early part of next year. it's priced into the multiples when you kind of look at historics. they're not so sure the whole market's on board with that. to the extent the fed actually starts take rates up, it's pretty asset sensitive. i wouldn't be surprised if it gets a tailwind on that even though kind of for banks in general a hot of that seems priced in. >> so jeff, in your coverage universe which stock, which earnings report are you going to look to as being a barometer for your sector? >> i mean, jpmorgan's always the

best to start with because they report first. and they're pretty much in all the businesses i care about at least. trading, investment banking, credit cards, traditional banking. they kind of give you a nice look thru. i think we're going to see the best results relatively speaking this morning out of goldman sachs and citigroup. goldman sachs partially because i think they still have the big inl gains even though the market hasn't been as favorable they're selling a lot of stuff which kind of leads to exit gains. i think we'll see that. and i think citi. the trading environment seems to be playing into their strengths. with kind of macro things like rates and fx still being strong. i don't think people are giving them the credit they deserve on the expense side. those are kind of the two names that are going to dot best over the course of the next week with as we mentioned earlier b of a having some revenue headwinds. >> best earnings, goldman as well as citi. best barometer jpmorgan. biggest loser bank of america. jeff harte, always good to sigh. thank you. >> fun to be on. thanks. >> you agree with the assessment. >> i do. investment banking and the trading. i look at jpmorgan and i think

actually they're going to probably perform in my opinion probably very well. but i also look specifically at investment banks with wealth management as the kicker. i think morgan stanley, goldman sachs i think both set up very nicely into earnings. >> if you look at bank of america it's pretty consensus what jeff said. goldman and jpmorgan both about 8%, 9 hers year to date. i'm long bank of america. i'm looking for that one to catch up. but i'm long it from a lot lower. so if you're going to be long the names go with the names that he just mentioned. >> which name in your financial basket are you most excited about? >> well, i have the biggest dollars in citi just as a relative. i think there's maybe the most up side there. but you know, jpmorgan i love as you know. barometer of hotness if nothing else. i'm excited for their earnings. i think they're going to be good. >> excited for their earnings. 7:00 a.m. >> do you see what's going on? do you see what's happening there? >> i do. ♪ >> i just want to let that run for a while. >> that's enough. >> remember that restraining order. >> big bank earnings kick off

this week. some traders are beth the results could spark a massive sell-off in the financial sector. mike kuo's in austin with the action. >> it's been pretty interesting because of course last week we highlighted a lot of bullish activity that we saw in names like jpmorgan. there was also some in morgan stanley. but today earlier i saw an interesting trade that actually caused the put call ratio to go to about 10 to 1 when somebody bought 24,000 of the august 23 puts in the xlf which is the broad financial etf, paying about 11 cents. and that's a trade i can best characterize as basically disaster insurance for financials because they would need to drop about 8% by august expiration for those puts to be profitable. and it could be a hedge considering that the financials have generally by many institutional investors been in favor going into this earnings season. >> all right, mike thanks for that. for more "options action" check out the full show, 5:30 p.m. eastern time on friday. coming up, the home run derby is tonight ahead of tomorrow's all-star game in cincinnati. we go live to talk to the commissioner of the mlb, rob

manford, about what he's got on deck for his first ever all-star week. plus the traders weigh in with their all-star stock picks. that and much more "fast money" right after this. here at td ameritrade, they work hard. wow, that was random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. for all the confidence you need. td ameritrade. you got this.

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♪ welcome back to "fast money." the mlb's yawl event kicks off tonight with the home run derby followed by the big all-star game tomorrow. cnn's eric chen is in cincinnati with mlb commissioner rob manford. eric, take it away. >> hey, melissa. yes, here we are in cincinnati at the reds hall of fame museum. we're joined by baseball's commissioner rob manfred. thanks for joining us here on cnbc. >> really glad to be with you, eric. >> obviously, this is your first all-star game as commissioner. one of the big things you tried to do this year is speed up the pace of play. how do you think that's been working so far? >> we're really encouraged by the pace of play results so far. we're down about 9 minutes, which would be the largest decrease since 1965 if we can hold it. but maybe more important, we've gotten great cooperation from our players on the field. just great cooperation. and i think that that's the key

to moving the game along even better. >> what do you think about the concept that speeding up the pace of play has hurt veteran players because they're not used to these changes and we're seeing 26 first-time all-stars this week? >> i think we're seeing 26 first-time all-stars because we've got a great crop of young players in the game right now and they're really showing how good they are and people are recognizing that. >> do you think it's a good or a bad thing that a-rod did not make the all-star team? >> i'm kind of neutral on it. my thing with a-rod has been that he should be treated like every other major league player. obviously, he was eligible. the fans didn't pick him. the players didn't pick him. and the managers decided they had other qualified players. so don't feel strongly about it one way or the other. >> when you think about this new generation of talent coming into the game, i know one of your big pushes is trying to get more kids, the youth interested in baseball in this country. how do you do that when you're competing against all these other sports? >> well, i think there are two keys, really. i think number one, you have to get kids playing the game.

and i think it's important for us to use our players that are a great asset to encourage youth participation in the game. second key is to take advantage of the demographic where we're strong. we're strong with parents, and we need parents to take their kids to the ballpark because that's where they get hooked. >> what about the concept of reaching the youth by doing the direct to consumer app? obviously there's a lot of cord cutting, people aren't getting a cable deal. would you guys ever do that like hbo, espn? >> well, look, we've been at the forefront of over-the-top provision of games. we have mlb.tv for over a decade. and i think that our delivery to consumers will continue to evolve as the cable environment continues to evolve. >> former reds legend barry larker told me earlier today he thinks these ten-year contracts are way out of whack, he hopes they go away in the next collective bargaining agreement. what do you think about that? >> ten-year contracts are a huge risk economically. i think the bigger issue for me has always been that they create disparity between our franchises

because we have teams in vastly different markets. some teams can afford to do ten years, and other teams can't. and that's my biggest problem with those deals. >> thank you, commissioner manfred, for joining us here on cnbc. melissa, back to you. >> eric, thanks so much. in honor of the all-star game this week let's go around the horn, get the traders' all-star stock picks. so pete, kick it off. >> i'm going to stick with the sports theme. i'm going with under armour. and the reason i'm going with under armour right now. we talked about top of the show steve was talking about fitbit and this sticks in this whole category as well. when you look at their growth, revenue growth, top line growth, you look at their international growth, all these are in double digits and very strong double digits and have been very, very consistent. and you look at who they've got in terms of who is really representing under armour right now. it's jordan spieth. it's steph curry. it's tom brady. three of the biggest in their sport. so when you look at what they're doing right now, everything is right. you look at the multiple. that's the one thing it's tough to get your arms around. but the growth is there and i think it continues. >> pete grasso. >> how do you not say all-star

and say jetblue in the same sentence? up 38%. in the space. exactly. pete did a hell of a job having said it. american airlines down 20% year to date. delta down 13% year to date. you have a bunch of these names that are down underwater and you have jetblue that continues to just fly above 38% up year to date. stay with it. >> fly above. karen. >> when you think about an all-star event, so i'm looking at some action in the near term. for me that would be milin. it's not about the company itself in fundamentals. this is much more of a takeover situation. i do think we should see something soon from teva. i like them both, actually, teva and milin. i think a deal would be stock and cash. i'm long both teva and mylan. but i have both mylan and teva. >> what's the chance you're watching this game? >> zero. i shouldn't say zero. but very small. >> facebook reports end of the month. finally it got its mojo. 85 had been a level it couldn't

get through. now north of 90. you probably have a 31, 32% eps growth. i think this next quarter's going to be fantastic. pete and i were talking. i could easily see this thing triple digits post july 29th earnings. >> by the way, that was a completely unfair question because in the break you said there is no shot that you would be watching yourself. >> what's unfair about the question? i don't understand. why is that unfair? oh, the implication. >> yes. >> i see now. >> we've got your first move for tomorrow when we come right back. stay tuned. verizon say neversettle. t-mobile agrees.

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fiction fbs's been making big changes. but is the social network a buy after all the greek drama? i've got the chart that signal the stock's next move. plus an exclusive with up-and-coming cloud play box. "mad money" is next. time for the final trade. around the horn. pete. >> you know i love these health care names. lilly continues to run. but i'm going with gilead. huge up side call buying in november. 140 strike calls. like this name. it's going higher. >> 386. >> i love the circle of life. i love the lion king. i started with fitbit, ending with fitbit. i still own it. i think it's got much more room to the up side. >> i missed the circle of life kind of thing. what -- >> lion king. good stuff. >> yes. s&p puts. as we talked about earlier today, i think the volatility index is giving you a chance to buy them cheap and there is volatility out there to be had. s&p puts. >> guy. >> i like that scar cat in that. >> what are you talking about?

>> sure. >> lionsgate. see that? lionsgate. lgf. that's what i'm talking about. tie it all together. >> thanks for watching. see you tomorrow make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friend, i'm just trying to save you some money. my job is not just to entertain you, but to educate and teach you so call me at 800-743-cnbc or tweet me @jimcramer. is it for real? have we awoken from greek nightmare that has