they'll deplay 400 to 500 million dollars in commodity trading. they think it's a good time, the lack of liquidity creates commodity traders and -- count counterintuiti counterintuitive. counter to a lot of other people. i think it's going to be a tough slog but then again if prices go down a good trader can be short. >> that's how that works. ladies, thank you all. you look like a stoplight here with this color scheme we have going. >> "fast money" coming up now. >> melissa lee. and thank guy adami for periscoping tonight as well. >> he says hello. and karen says call me. thanks, guys. "fast money" starts right now. live from the nasdaq marketsite overlooking new york city's times square i'm melissa lee. our traders on the desk are pete najarian, brian kelly, karen finerman and guy adami. cnbc has full coverage of all the afterhours action continues. josh lipton listening to the qualcomm call. mary thompson all over american express, that call just getting under way. and courtney reagan is on top of the las vegas sands call. we'll bring you all the headlines as they break along with the trades. but first to the biggest mover after hours and that would be qualcomm.

the stock getting hit on weak guidance right now the company announcing it is cutting 15% of its workforce working with jana partners to undertake a strategic re-alignment. you see the volatile trade in the after-hours session. let's get straight to josh lipton for more on qualcomm's quarter. josh. >> as you mentioned, melissa, the big news that qualcomm is going to force this agreement with jana to add two directors to its board, cut spending by $1.4 billion, and at least consider these structuring changes. of course jana has asked qualcomm to explore those changes, whether it would make sense to split the chip business from the licensing business. whether that actually makes sense is a subject of debate on wall street. i was talking to bernstein's stacy raskin and stacy argues you could theoretically split those businesses. in his opinion splitting those would be what he calls value destructive. the call did start a few minutes ago. i'll give you some highlights from the ceo steve molenkopf. he's arguing qualcomm this news is trying to position the

company for success. he's looking to drive growth. it will right size the cost structure of the company. qualcomm is also he said still committed to returning significant capital to shareholders and aligning executive compensation with performance. a little bit more of the goal he said in qct, that's their chip business-s to take down costs. he said full-time head count in qct will be cut by 15%. i want to hop back on the call, bring you guys headlines as they cross. >> all right. thanks so much, josh lipton. let's trade this. guy adami, want to go to you. it's an interesting trade here and it seems like -- the forecast for the current quarter, the forecast for the year, terrible. >> the guidance for the next quarter was miserable. the quarter itself was okay. not great. the guidance was miserable to your point. now, it's been since early last year this stock has had any momentum to the up side. a series of china news or earnings news. you would have thought the jana headlines would have sustained this and bought gotten it back above 65. it's not. quarter on its own should be

trading exactly where it is. it's imperative it holds the january low which was 61 1/2 otherwise it feels like there's further room to the down side. valuation is fair, i get it, balance sheet is pristine i get that but the business seems to be deteriorating. >> and this is also a story of samsung losing market share to am. that is one of the major concerns that's been hanging over the stock and we see it again play out in this quarter. >> the sales weren't great. i know they were in line or what people are expecting. but still, it was one of the worst sales quarters they've had i think since 2009. so this is a company that's not going in the right direction. the ceo on the call saying they're trying to set qualcomm up for success. i thought that's what they're supposed to do just on a regular day, not just because jana partners comes in. to me it is a tough long-term play here. however, down at 62.70 in the afterhours market i think you have a great risk reward because 61 1/2 is your stop, the level that guy mentioned, and now that you have down here at 62.50 even you probably have some kind of floor here for some kind of good

news coming out. i would buy it for a trade. >> should we doubt jana partners. interest whog they added to the board. one of the people they added, mark mclaughlin who's the ceo of palo alto networks, which has been a cyber security darling essentially on the street, karen. jana's good at what it does. >> they are good at what they do. it sounds like qualcomm is trying to do the right thing. and so that's sort of the disturbing part. they're trying to do all the things you want to hear and yet it still can't get out of its own way. that's a little bit disconcerting. clearly we're in a very bad tape for this space. but i think you have time. strategic views take time. and in the interim nothing great's happening. i would wait. >> the backdrop to this some might say, it was a terrible tape for the chips in today's session. the philly semiconductor index underperformed the market. but take a look at some of the other chips in the afterhours session because they are on fire. sandisk soaring, beating on earnings moments ago. texas instruments matching

earnings. higher by 1% coming in slightly below estimates on revenue. and of course this is after all the action today. better setup for them them than -- >> and cirrus logic on the back of apple. they still sold 47.5 million iphones. you look at cirrus logic, year over year revenues up 85%. numbers are incredible. and they're completely reliant on apple for the most part. you go back to qualcomm, i agree with these guys, and guy had mentioned it earlier, had it not been for jana and their activism and what they're doing putting in the two directors this stock would be closer to 61, maybe 61 1/2 dollars. it was actually up in the after market on that news. then it sold off as people started to go through the earnings. but i tell you what, i think because jana's there and they finally are getting a little bit of moment nyum what they want to execute i think long-term you're looking at a company that's going to split and they're going to force their hand. >> but then wouldn't that imply there's something jana can do to improve the underlying business? the licensing part of the

business is at risk because of the china story and then you have sort of the samsung issue losing market share and not as much content of qualcomm -- >> i don't know if you can fix the underlying businesses as much as you can cost cut which is what you're seeing here. we can cost cut our way to a higher stock but i don't think the business problems they're facing can be fixed by jana partners or by anyone, frankly. the headwinds are there. sandisk real quick is pretty interesting. here's a stock quickly that's been cut in half effectively this year alone. was a good quarter, revenue beat. i'm not sure about the eps, i can't figure out if it's as good as it looks. but with that said if it can sustain these gains tomorrow, that's been the big if. if it can sustain these gains, maybe the stock has a shot to see mid 60s. >> let's bring in rbc capital markets analyst mark su. he joins us on the fast line. great to speak with you. >> hi meshlgsa. how are you? >> good, thanks. what do you make of qualcomm and what jana partners is aiming to do?

without jana would this stock be much, much lower than it's trading right now? >> i think for investors it's always good to have some advocate on the board. so i think that's providing some cushion to the stock. qualcomm is doing the right things in terms of operationally taking the cost out. the market has slowed. so for them it's really about driving agility into the organization and having some external pressure always helps to do that. >> how about the underlying business, mark? are there signs of a turnaround? are there signs perhaps that samsung could gain back any market share or that the dollar content of qualcomm chips and any other phones are going to go higher or that the licensing issue in china's going to resolve? >> there's a larger issue. the market is slowing. the rate of smartphone growth has been slowing for the last five, six, seven years. that's one thing. and along that apple has been gaining a lot of market share. and as qualcomm made its big best in samsung i think the thought is they lost a lot of socket presence at samsung. and for samsung there's a

relationship rebuild that needs to occur as well. costco and american express is the example i use with samsung and qualcomm. they need to rebridge that relationship. and as apple does better, remember, qualcomm, they will use actually a little bit of dollar content. so for us it's really what can they do next. operationally, yes, cut costs, split the business, potentially yes, unlock value that way. but beyond that it's really what else can you do. can you do some transformative m&a? can you go into new markets? >> how do you get to an outperform rating and $77 price target? it sounds like you're saying it could happen, there could be some sort of transformational event down the road. but we don't know what that is. >> there's going to be a time horizon where investors will say these are the things you need. step one is reducing costs. they're doing that. step two is splitting the business. and then step three is really thinking about expansion. those are the things we will look for. and i think if they do that they will actually stabilize the earnings and actually unlock some value. if you look at the sum of the

parts and look at the royalty business and you look at the comps on the chip side this is actually quite a cheap stock and there's a lot to do. and the intent is there with a need to see some direction. >> mark, thanks a lot for phoning in. we appreciate it. mark sue of rbc. do you buy what mark's selling in terms of the bullish qualcomm story and what can be done in the future for growth? >> one of the things mark's talking about also is the data center world. which is something we hear from intel, from a lot of other folks out there. i think that is an area where we could see some good growth for them. he also mentioned sum of the parts. i actually think the sum of the parts if they can get to that point is probably closer to the 70s than it is in the 60s right now. >> now to american express. lower after hours on earnings. mary thompson's got all the details. mary. >> hey there, melissa. mixed quarter for amex. cost controls and share buybacks hoping the giant beat on the bottom line as the firm missed analyst estimates and fell short of its own long-term target for revenue growth. earnings of $1.42 a share ten

cents ahead of forecast revenue light at $8.2 billion. ceo ken schnal calling it a solid quarter. client spending on fx or currency adjusted basis was 6% that was pretty much in line with what many on also had expected. and while expenses dropped 4% in the quarter the company is planning to ramp up investments in the second half of the year in order to grow its card neb member base and other various ventures. on the call the company reaffirming its outlook for earnings this year, expecting results to be either flat to down modestly. melissa, back to you. >> thank you, mary thompson. karen finerman. >> yeah, it's a great company but you snow, they've faced some obvious headwinds. the costco one is a really big one. i don't think that's finished yet. i don't think we're finished feeling the impact of that. and scale is so important. not that they don't have scale but that's a big loss, big chunk of revenue p. the only way they were going to get there was cost cutting, buyback, those kinds of things. they're not the highest quality

earnings. great company but you don't need to jump in right now. >> in this broader space we're looking at other companies that are at oror near all-time highs like a visa or mastercard. take a look at the financials. >> tomorrow after the bells they report mastercard end of the month one of the things we've said for a long time is don't get confused don't lump american express in with visa and mastercard. they're just transactional companies. they process transactions. and they happen to do it really well. i think you can be in both of those names. still, to karen's point this stock merge express has floundered between 78 and 80. most of this year after the costco news. i see no compelling reason to chase it here. >> it's got to hold 76. that's the key level here. it also becomes a dollar story, right? because a lot of the reason why their revenues were down was because of dollar headwinds. so unless you think that the federal reserve is completely going to just stop raising rates, then you really can't buy it. for risk-reward where's it trading? 78 or so right now. so $2 you'd have to have it into

the mid 80s. i think that's a tough buy right here. >> coming up next the details on what is behind the potential collapse of a $35 billion oil merger and the two stocks involved that saw big losses in today's trade. plus stay away from the water. better yet the charts. the two stocks that can hurt your portfolio. in tonight's special edition of chartnado. and further will amazon report like apple tomorrow after the bell? how the traders are playing the e-commerce giant ahead of earnings. all that and much more ahead on "fast."

welcome back to "fast money." i'm courtney reagan. united rental shares down over 5% in after-hours trading. the rental equipment company's second quarter earnings beat estimates though revenues did miss. it cut its full-year revenue outlook due to the drop in oil and gas activity. now, united rental ceo says he does expect to see solid growth ahead as oil drilling stabilizes. the company also announcing a billion-dollar share buyback. that's in addition to its current 750 million share repurchase program. melissa, back to you. >> thank you so much, courtney reagan. karen, this is a name you have been in. >> and i am in right now. long stock, long options.

a little disappointing. although this has been telegraphed for quite some time. in may they presented at key bank and they sort of said we're not ready to cut our guidance yet but may was slow and the stock sold off very sharply on that. this is sort of the second or third time it's down on what i think of as the same news. oil and gas weakness. it's -- you know, the revenue they're talking about down 3% from where i thought it would be. where it is in the after market, i let it wash out a little but i think it's ridiculously cheap here. just by the way, it is another jana name. they do have a very large position. i don't think they've done anything activist here. i think management's doing the right thing and they have done the right thing for a while. hate to see it trade down but let's see if it washes out one of those guy outside, inside, whatever days tomorrow, i'll buy some more. >> that's a trade school -- >> outside, inside, whatever you talk about over there. >> trade school.

>> biogen kick off our top frads falling more than 4% on the day after data for its alzheimer's drug disappointed, guy. this of course after a run-up into this conference. >> huge run-up from january on. obviously disappointing results. we had a conversation when meg was on the show the other day how as close as people think they are to alzheimer's that's the holy grail. nobody's probably that close. the biogen news proves it today. that said it's probably at interesting levels to get back on the long side. pete's talked -- i was going to say before he mentioned. but look at eli lilly today ahead of earnings. look at the reversal that stock had. i think it traded 81 at one point, next thing you know it's trading 86 ahead of their earnings release. so there are names that still make sense although with biogen you could probably dip your toe in right here. >> the interesting thing for lilly is they said there are some benefits. >> to their alzheimer's. >> to their alzheimer's. exactly right. and this is the mega world when we're talking about drugs if we can actually get there. the holy grail as guy mentions

it. $20 billion type drugs. these are huge numbers. that's why the reaction of just even showing some benefits is why lilly turned the way it did. >> you hold on to this. this is long term. >> absolutely. it's long term. >> next up a tough day for the oil services play. baker hughes. six-month low on news that halpern's takeover of the company is reportedly according to bloomberg facing resistance from u.s. justice department officials who are worried the deal could hurt competition. halliburton end of the day slightly lower. this is unfolding while we were on the halftime report, pete. halts left and right because of volatility in the stock. >> take a look at the way baker hughes bounced off. speaking about reversals on the day. this stock got all the way down into the 52 range, ended up at 58. because of the fact i think because halliburton came out and pound the table and said we'll get this deal done, $35 billion deal. number 3 and number 2 going up against schlumberger who's number 1. going to have to sell off a lot of assets. this is going to be something very complicated with the doj.

will they approve it? we already know the ge/electric o'lux deal, that's something that's going to be a pain for a while. these various things, the doj coming into the airlines, they are very active right now. will they approve this deal? i have no idea. but certainly the way the stock bounced back halliburton seems to have convinced a lot of folks it will. >> a lot of amazing action in the sector not only did we see wti below 50 bucks a barrel but goldman sachs put exxon on the conviction buy list, chevron on sell and credit suisse upgraded the enp sector overall to an outperform. >> the justice department's concerned about competition in this particular case, and you know what else is going to hurt competition? weaker oil prices. for me you want to be short oil here. it would not surprise me if the dollar continues to be as strong as it has been to see oil at $30 a barrel. that's west texas kind. >> 30? >> yeah. i think it can wash out to that. no question. that would really hurt this whole sector. i'm staying away from this on the long side. >> did you hear mark faber this

morning? >> was he bearish? >> go figure. talking about deflationary pressures. maybe he's on to something. i don't know if it's getting to 30 but the trajectory seems to be this way in oil which i've got to tell you something, to me it wreaks of deflationary pressure. so i'm sort of in the faber camp on that point. >> coming up, will amazon make like google or apple when it reports results tomorrow? the clue you need to know after that big report. in the meantime here's what else is coming up on "fast." thought that was scary? well, wait till you see the chart of one major dow component that looks ready to attack investors' portfolios. it's a full-on chartnado and we'll tell you what it is. duncan, starbucks and mcdonald's out with earnings tomorrow. and the traders have an unusual way of picking the winner. that's when "fast money" returns.

question. what is scarier than tonight's premiere of "sharknado 3"? oh, hell, no. that's the name of the show. chartnado. the stocks that could attack your profits. rich ross head of technical analysis and our lifeguard tonight. you're taking a look at a key

dow component that's reporting tomorrow. >> we're taking a look at caterpillar. over the last 12 months only one stock has performed worse than caterpillar and that's chevron for obvious reasons. you're down almost 30%. but as bad as this chart looks, i actually like the setup going into earnings. and let me show you why. first here's the short-term chart. you can see this very well-defined trading range. let's call it 90 on the high end, 75, 80 on the low end. we're down at the low end of this range. that means expectations are extremely go going into earnings. the trend is down. we all know that. but once again this is the flip side of apple, which went in at the high end of its trading range into resistance. expectations high. here we have expectations low. you're set up for a little best a bounce here. this is where the story gets real interest. when we look at this next chart you can see -- hey, "fast money." you can see there's a very strong correlation -- excuse me, give me one sec and we'll bring it up. there we go. cha chartnado on the charts.

you see a very strong correlation with the emerging markets. this is like being handcuffed to rob gronkowski for a weekend in vegas. you see the volatility there. now, the correlation is strong for a reason. clearly with the exposure to gas, oil, mining, et cetera, china, all of which have collapsed. but here's where it gets interesting. both of which have held key support. emerging markets right down there. boom, caterpillar right here. if this support holds in the face of all of these collapses, you're set up for a relief rally. so that's why i like the stock going into earnings. expectations very low and the charts are working. now, the next chart, let's keep it simple here. this is pandora. we're moving into tech land. let me show you what i don't like. it's a little old school. boom. well, we'll discard that. okay. cufflinks getting in the way. pandora. thank you very much. live television. let's just stay with pandora here. got the head and shoulders top working. we've got everything working. boom. that's some bad hat, harry.

tells me this chart is going lower here. head and shoulders top here. the height of the pattern is roughly 17. we can project that down from the neckline of 23. this stock can go as low as $6. so all of that being said, you want to be a seller. stock's at 14. i think it goes lower. by the way, apple just came out with a competing product which happens to rock, no pun intended. so we're a seller of pandora and a contrarian buyer for a little bit of a relief rally in caterpillar. >> rich ross, thanks for nap gremlins are in that smartboard. >> you can trade the stocks with everybody. i want to point something out that he did. extraordinarily subtle. nobody caught it. folks at home did. that's a bad hat, harry. that's a "jaws" reference. right? great job by rich ross. >> genius. >> genius. anyway, back to you, mel. >> caterpillar. >> it sets up for a relief rally. it's not a long-term trade. it's not a long-term position at all because i think commodities

go much lower. but for a relief rally i like exactly what rich is saying. pandora, a name that i've liked, really traded awful. i'm not sure i'd press shorts here, though. i think you can see this have a relief rally as well. the. >> the fortunate thing for cart caterpillar is today we've already got lousy equipment sales going into the quarter. it already declined on the back of that. >> you and i probably not stellar for them but it has already declined. i'd rather be in u.r.i. i like its totally u.s. business. >> sharknado 3:oh, hell, no. is premiering tonight. the name of the show. qualcomm trading lower after hours. we'll hear from the ceo with his take on the quarter. plus a very special chart of the day. grilled up a major reversal on the back of earnings. you could in fact say it had a blowout today. we'll tell you what it is when "fast" returns.

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welcome back to a busy night of earnings here on "fast money." shares of american express moving lower in the after-hours session after reporting a mixed quarter. we'll continue to monitor that move and bring you the headlines from the conference call. meanwhile apple supplier cirrus logic and sandisk both surging on strong beats. and las vegas sands jumping 4%. we'll hear what chairman and ceo

sheldon adelson had to say about the quarter straight ahead. let's start with qualcomm. it is still lower after reporting mixed earnings and announce a strategic review of view of its business. cnbc's josh lipton's been monitoring the earnings call and joins us with the highlights. josh. >> well, melissa, obviously the focus on this call is this restructuring plan cutting $1.4 billion in costs, adding directors to the board. the changes to compensation. on the call ceo steve mollenkopf trying to sound a note of optimism and confidence about the chip maker's future. take a look what he said to analysts. >> we have significant opportunities before us and we are executing on a strategy to realize these opportunities. we are absolutely committed to leading the next wave of mobile computing and delivering profitable growth in new areas beyond the smartphone. in order to deliver significant value to qualcomm stockholders. >> now, mollenkopf also talking about capital return.

he said qualcomm plans to ditz biggest return of capital to shareholders. said at least 75% of free cash flow will go back to shareholders through dividends and buybacks. melissa, back to you. new areas of growth beyond the smartphone, josh. on paper that sounds great. but what would that be? >> so that would be areas where qualcomm is. so we can talk beyond the smartphone, obviously, melissa. that would be cars. that would be internet of things. that would be networking. the executives on this call trying to get in on some investors excited about what they think is opportunities for that chipmaker ahead. >> thanks a lot, josh. jump back on the call. we'll check in with you later on. the issue of qualcomm getting into these areas. there are a lot of other companies in these areas and with high penetration. i don't think you have the likes of an nxpi which has fall nen this sort of chip malaise we have seen. but on that premise, on the premise there are growth areas, guy, would you say, you know what, i'm going to take a flyer in qualcomm because as pete says on a sum of the parts basis it should be closer to 7. >> not on that basis you take it -- that's one of the reasons.

i think the activist is a reason. i think their balance sheet is a reason. i think the fact it could potentially hold 61 1/2, a level we last saw in january-s a reason. but understand, aggregate, this is a declining business for these guys. just to know what you're getting into. again, against 61 1/2, though, i think you can buy the stock. >> it's the new ibm. 75% of free cash flow's going into buybacks and dividends. they're not making a commitment to these new businesses. only 25% of the free cash flow's going to go to these new businesses? it's new by ibm. it's got a declining core business. it doesn't seem to me like the management's doing much about it. so that being said, i still think as i said at the beginning of the show, 62 1/2, 62 3/4, you buy it for a trade only. >> this is a question i've posed. do they use the cash now or do they wait to figure out what they're going to do for their strategic plan before they -- >> i would think they would wait. >> that's what i would guess but i don't know. >> i mean, what would you like to see -- >> i think mark sue, he actually pointed out all these types of things, and josh a little bit too as well.

he talked about cars as one of those areas. data center. those are areas where they could grow and grow very rapid will i, i think. these guys keep talk about the 61, 61 1/2 level. i would agree with you. and i think the put underneath the stock right now is the activism and the potential. >> they can grow those areas very well. is it going to be another ibm situation where those businesses are such a small piece of revenue even though they're growing very quickly? that's like cloud is to ibm. >> yeah, but this could be bigger faster i think. i think the data center -- if you look at intel for instance this transition they're in right now when you look at where the refunds are really coming from it's not as much on the pcs as people think it is. take a look at what they're doing -- >> but i'd rather be in the companies they potentially might buy or the industries they might go in. nxpi. it filled the gap, traded toward the high of the day. to me there's sch more up side in that than there is in qualcomm in the longer run. >> sticking with earnings one of the biggest tech companies gearing to report in less than 24 hours. amazon which is already up more than 55% on the year is due out with second quarter results

tomorrow after the bell. we caught up with piper jaffray's gene munster to find out what he will be looking for from amazon. take a listen. >> "fast money" earnings edge. amazon reports tomorrow. three keys to keep focused on -- first is profitability. the bogey is margins of 1.6% or better. second, unit growth of 18% or better. and third, the september guidance of margins and profitability of 1% or better. for "fast money" i'm gene munster. >> and munster says that despite the recent surge higher he'd still recommend owning the stock. but will amazon have an am-like slump or bring some momentum back to technology? what do you guys think? it does set up given the run it's had for a potential of either way. >> i'm teeing myself up huge here but i said it the other day so i've got to stick with it. it's not an apple. i think it's more a netflix. i think the pain will be to the up side of this name. we all get valuation doesn't

make any sense but i think they can pull the levers necessary to continue to make this stock trade higher. so if you're asking me which way, i say it goes up. >> i think its warnting seeing the reaction in facebook and amazon in today's session. we're still waiting for facebook's result. they're still in the same boat, they've hit new highs or close to new highs right now. facebook was down 1.4%. had a morns ter move up off the back of google and nothing else really fundamentally. so that was down sharply. but amazon was flat on the day. >> yeah, flat on the day and yet still sort of teetering around that 52-week high. this is a stock that had been absolutely impressive. this prime day recently. i think that bezos has had this plan, he showed us the plan earlier in the year, a couple of quarters ago, showing us that they can make profits. i wouldn't be looking for that again. i think this is a company that just keeps executing. to guy's point, very much like netflix. it's not something where you can say hey, look, the valuation is too high. it's been too high forever. what are they doing to execute? and if they're executing right which i think they are, i think the stock goes higher. >> just like i said on netflix and i'm teeing myself up again but i would sell this stock. it is up from 280, right?

in the beginning of this year. up to almost 500. what -- who -- what else is there this company's going to do? who else and out there to buy? for now why wouldn't you take the profit? it seems silly not to. >> i just don't get it. i do not get it. it's a great company. i use the product all the time. let me ask you something. if you were able to do business with a company that sold you anything you wanted for a dollar, you'd get a lot of revenue, right? i think they would grow very, very quickly. i don't know what kind of valuation they'd get. but i think it would approachon. so i think it's a fantastic product. i just think at some point, we're now, what, 20 years into their history. they do need to make money. meaningful amounts of money when you have a market cap of a quarter of a trillion dollars. >> what happened with facebook? would you buy this weakness? >> i don't think anything happened. we said going to 100 for a while. got 2099.70 the other day. would i buy the weakness? yes. because i still think the quarter's going to be great p

probably trades 35 times forward earnings. if you look at their metrics their move to mobile has gone better and fasterhan anyone thought it could. i think that trend will continue. so i think the stock continues to go higher. yes, it sold off today, probably on the back of the apple. probably people wanted to get out of the way given the run it's had. but i still think the stock goes higher from here. >> earnings alert on apple supplier cirrus logic soaring in the after hours session. let's get to courtney reagan in the newsroom. court. >> cirrus logic like you said rallying in after hours. the audio chip maker boasting strong first quarter results. shares up very sharply. also issuing current quarter revenue guidance well above estimates. the company says it sees the current year shaping up to be "outstanding" and expects new products to fuel additional growth. the stock up over 12% right there in after hours trade. that's a big mover. melissa, back to you. >> courtney reagan, thank you. pete najarian, you and i were looking at these apple suppliers this afternoon including cirrus logic saying wow, what weakness across the board in these stocks, nice setup -- >> and not unexpected we'd see

that weakness and yet the read-through is look at how many phones they sold. and i also think the read-through now is look at the projections that cirrus logic is going forward when they're so reliant on apple. that's telling you a little bit of something about the next quarter for apple as well. i think in a positive way. it makes me much more confident about my apple position because of what cirrus logic's talking about now in the call. >> coming up, chipotle bouncing back today after its earnings report last night. what's got investors so excited. the chart you need to see is next. plus las vegas sands moving higher on its earnings report. we hear from the ceo about his plans to keep shareholders happy. right after this.

live nation knows how to rock, but should you roll with the stock? i've got the ceo. and a biotech working to give sight to the blind. with the stock up nor than 30% this year alone. plus biting into chipotle. "mad money" is next! a wild ride for chipotle, which is our chart of the day. the stock completely reversing, hitting an aum-time high on the back of earnings last night when it was down as much as 6%. and guy, we are looking at a burrito blowout, if you will. >> yeah. we had one. >> in the after-hours session. >> was that last night? >> it was two nights ago. but chipotle's low was yesterday. >> well, it probably was -- >> still in my memory. the move -- fourth of july. look at that. there you go. they said there's 15% to 20% down side in cmg. stock closed at 600 -- 605 that

day. that monday we did the show pete was on. we talked about it. i said look, i don't know, their margins seem to be declining, maybe "barron's" said they're up to something, pete said woe buy it. within a week the stock was 660. in the after hours i thought the quarter was marginal at best. stock sold off $50. and five minutes later it reversed. you saw the move. i don't know what to make of it. i get the growth story and all. valuation is rich. i still think given this quarter jack in the box makes the most sense. >> you wanted to buy it in the afterhours session. >> tried to and i didn't have access. friends of mine did. unfortunately, they had access, i didn't. i was in somebody's office at the time. i looked at the quarter and i actually thought the quarter was fine. i looked at the earnings growth was -- >> you liked the carnitas guidance. >> and the pricing power. these guys are able to raise prices. and they talked about how they're going to finally be able to raise prices because they were trying to keep some of the prices down and it seems to not affect the lines. the lines just continue. this is a growth story. continues to be a growth story. i think expansion is still in front of cmg as well. this is one of those names everybody's talking about how

mcdonald's should be kicking themselves. i don't know that they would have flourished the way they are had mcdonald's still owned them. >> would you be a buyer here at these levels? >> no. it's just way up in the stratosphere now. it's just amazing. >> let's get to another earnings mover, las vegas sands popping in the after hours session. cnbc's courtney reagan is busy back at headquarters. >> that's right, melissa. could have been worse. las vegas sands reporting in line earnings revenue slightly lighter than census. macau remains challenging. but it's weathering the downturn better than competitors. q2 revenue in china fell still but the operator says it's seen strong growth in its retail mall business, that's a high margin business and due to cost prudence margin remained overall in check. further ceo sheldon adeleson explaining vip gaining, some weakness in macau allowing an outperformance in macau's vip market. that of course will continue to weigh on investors going forward. the worries there are not over. but the ceo reassured analysts a couple times on the call,

several really, that the company remains committed to rewarding shareholders. take a listen. >> let me be clear. we remain committed to the maintenance of our generous recurring dividend program, and we remain committed to increase those recurring dividends in the future as our cash flow grows. >> also adding las vegas sands will continue to stay disciplined and exkuyt its business plan adding he's more confident than ever about the company's future success. melissa, back to you. >> courtney reagan, thank you. that seems to be a jab at wynn, right? which reduced its -- didn't they reduce their dividend? >> yeah. >> just a couple months ago or so. >> i think that's a good thing. as an investor i want an operator like steve wynn in there saying business isn't great right now but i'm going to take proactive actions to change things financially for us. for me when things start to turn around wynn's your buy. i think for a trade here wynn's your buy off of these earnings. >> dan nathan, your friend, guy -- >> he's on this show every

night -- not every night. friday 5:30. >> salty dan. he had this interesting thesis are that with the rise in the chinese stock market that is taking away some of the business from macau. with decline in the chinese stock market do we then see people return to macau for their gambling needs? >> we talked about this. we said that the casinos -- that the stock market was taking over for the casinos. >> and now -- >> talked about that a few weeks ago. so what does it mean for the stock? i think this quarter was a pretty good quarter. i think the rate of decline is slowing and that's manifesting itself in the fact the stock has hit $50 a couple times. dividend approaching 5%. he can say whatever he wants. when your stock goes from 100 to 50 your dividend by definition goes up. that's another conversation. but i think the quarter was good enough. the rate of decline has slowed enough you can buy the stock. >> did you answer my question about -- >> no. i was like a politician. >> he's salty. >> all right. >> good question, though. i'll give you that. >> and i got no answer. don't think i didn't --

>> i'd-step. >> mcdonald's, starbucks, dunkin' donuts all on deck for earnings tomorrow. which stock is too hot to handle? we've got a very special "fast money" version of coffee talk. with the java master himself pete najarian. that is right after the break.

welcome back to "fast money." i'm courtney reagan. gains from sandisk accelerating as the company reaffirms future revenue guidance. the chip maker sees third quarter revenue between 1.35 billion and $1.45 billion. full year revenue between 5.4 billion and 5.7 billion. shares are up over 12% in after-hours trading. melissa, back to you. >> thank you, courtney reagan. now it's time for the "fast money" edition of coffee talk. or coffee tawk. starbucks, dunkin' donuts, mcdonald's all reporting earnings tomorrow. it's time for a little coffee taste test. we've got the java master pete najarian here. he's blindfolded, as you can see. he cannot see a thing. >> that's great. >> he can't see a thing. so let's get this thing started.

all right. wuf got three obviously. and i'm going to hand you a cup and you're going to tell me which is which. >> are these pretty hot or am i all right or -- >> you want me to stick my finger in it? >> no, i'm all right. what in the world? >> how can i tell you if it's hot or someone. >> boy, that's a lukewarm terrible cup of coffee. oh, my. >> ready for the next one? >> i am. >> you need a palate cleanser. >> no, i think i'm all good. >> just be careful. >> they're all kind of lukewarm. that's not bad. all right. starting to get somewhere. >> okay. last cup, pete. ready? >> this feels warmer. >> it's not about the temperature. >> oh. >> it's about the taste. >> that one's bad. i already know which one that one is. all right. >> what do you think? what do you think the first one was? >> first one was a little bit burnt. i'm not a big fan of burnt. but i know people are. i'm going to say that's

starbucks. >> number 2. >> 2 i liked. and that's mccafe. i'm a big mccafe guy. i'm going to say that's number 2. >> and that means 3 is dunkin' donuts. >> 3 is dunkin'. >> you are a winner. >> wow. you can take your blindfold off if you want. or leave it on, whatever you want. >> no, it's a little warm. wow. >> guy adami -- >> nice. >> dunkin' reports tomorrow. the stock has been on fire. it's a big valuation at 25 times forward earnings. 11% short interest. i think they get squeezed. i get starbucks. i get cafe mac. but i think dunkin' gets -- well done pedro. that's what i think. >> good stuff. >> sticking with the coffee theme, mike kuo, what is the options market expecting from starbucks tomorrow? >> you know, i happen to love starbucks coffee and i'm not a big fan of those o'other two. so guy and pete, you guys are kind of on the other side of this one for me. but i will tell you, pete, where the options market is agreeing with you. we saw about 1 1/2 times the average daily volume today.

calls did outpace puts but one of the trades that caught my eye was the august 53 1/2 puts trading for about 75 cents. bearish bet the stock could be down 6.8% in about a month's time. all of that call activity, turns out a lot of that was selling. also in august the 16 1/2 calls. so here we are basically trading around all-time highs, but options traders are getting a little bit nervous. >> all right. thanks a lot, mike. for more "options action" check out the full show, 5:30 p.m. eastern time on friday. we do have a news alert now on the c suite over at mtv. cnbc's julia boorstin's got the details. julia. >> that's right. mtv's programming chief suzanne daniels is leaving and going over to youtube. she's been hired to be the vice president of youtube originals. she'll be reporting to robert kinzel who's head of content and business operations at youtube. this is a very big hire for youtube as it invests more in original programming. we just saw with google earnings that youtube has been a big driver of its growth. looks like they're trying to continue to hold on to that position. dominant market share with

digital video as others like facebook jump into that space. big hire for youtube from mtv. melissa, back over to you. >> thank you, julia boorstin. coming up tonight on "mad money," cramer's ready to rock with the ceo of live nation, the world's biggest live concert ticket sales business. then the ceo of spark therapeuti therapeutics, a biotech working to give sight to the blind. plus cramer's biting into chipotle's spicy moves. all that and much more ahead on "mad money" top of the hour. meantime, coming up, last call for earnings. the traders give all the big movers their final grade after the break. stay tuned. more "fast money" straight ahead. 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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live nation knows how to rock but should you roll with the stock? and a biotech working to give sight to the blind. with the stock up more than 30% this year alone. plus biting into chipotle. "mad money" is next! now to google. now, a lot of you guys out there often ask about the difference between goog versus googl. g-o-o-g versus g-o-o-g-l. who better to break it down than karen? she's got the fine print on this. >> i get this question all the time. so goog is google c class. and those have no voting rights. googl is the a class and those have 10 voting rights. i'm sorry, they have 1 voting right. i'm sorry. the b class has 10 voting rights. it's not public. so normally you like to have a vote or no vote. however, the insiders control this completely. it doesn't matter at all whether you have a vote.

so then you've got to think about other factors. let's look at how liquid they are. today both very, very liquid. googl 3.8 million shares. goog 3.4 million shares. that should be plenty of liquidity for anybody to get something done. here's the thing, though. except if you bought it today, during the middle of the day, anybody else has a gain because they are at all-time highs. so anybody else has a gain here. so why would you sell one to get into the other hoping they converge or diverge or something like that and pay taxes? >> right. >> that doesn't make any sense. there's no mechanism that they have to trade together. >> what if the question, though, is which one to buy with no position right now? >> it doesn't matter. >> it doesn't matter still. >> it really doesn't. there's no mechanism to make them trade and if you own it already don't switch into the other one. it doesn't make sense. >> but theoretically -- i guess it doesn't make a difference because the insiders control it. >> they control it. so why pay up for a vote if it doesn't get you anything? but because they're -- liquidity

might be a reason. they're both very, very liquid. >> that's a fine print. >> we get that question all the time. >> all the time. >> all the time. all-time highs in both of these stocks. time now to give the final grade on tonight's earnings. let's go around the horn. pete. >> you know, courtney broke in a while ago with cirrus logic. we were looking at that name. that name got beaten up today. it was down under 29 then started to spring back up. you see it now in the after hours just unrunning. i'm giving them an a. they crushed it. giddy up. >> b.k. >> qualcomm for me. that's the one i'm looking at. i'm giving an f for hashtag fan. the earnings weren't great. their sales were down. it's what they said in the conference call afterward. the fact they had to come out and say we are trying to position the company for success. to b.k. that's what a ceo is supposed to do every single day when they go into their job, not just because an activist is in your stock. so that is a fail for the conference call.

>> no curve in b.k.'s class. karen. >> you or i, b, b-minus. but that was expected. this is just getting the veil at home with the grade on it. >> my mission is simple, to 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 friends. i'm just trying to make you a little money. my job is not just to entertain you, but to educate you or call me at 1-800-743-cnbc or tweet me @jimcramer. china. yes, china. it all keeps coming back to china. that's what kept going through my head today as the dow