approval. >> that is why we love you. carol and stef yn a. thank you both. that does it for "closing bell." "fast money" starts in a moment. >> the ceo of therapeutics targeted the patents of this company and got handed a victory and the ceo will come on and respond to kyle bass' allegations. >> high stakes. straight over to you. >> "fast money" starts right now. live from the nasdaq markets, overlooking time square. and this is melissa lee. tonight on "fast," we're less than 24 hours away from the biggest fed decision in years and if the fed does not raise rates we'll tell you where black rock is putting the money to work. and carl bass and the ceo of that company is ready to speak on take on bass. he joins us for a first interview. but first to the biggest move in the markets today. that would be crude oil. soaring. setting up 6% on the day. price getting a boost on the news.

u.s. inventory fell for the first time in three weeks and report that u.s. tops are trading rebels in syria. so what does the oil move mean ahead of the fed decision tomorrow. >> well actually, i think the oil move could go higher, into october. we have a couple of things that support oil. the geopolitical events, and number two position, everybody was short and bearish. coming into october, companies are at a point where they are going to renegotiate the debt deals. and what that means, if i'm an oil executive, i want to cut production and get the price higher. so i would expect you see production come down and we're seeing it in the rig counts and that push oil high. once you get above 50 to 55, it is difficult to get up there. but oil is a long trade. >> and the refiners suggest what b.k. is saying. the one cavat is the ovx remains around the $50 level. it is still elevated which makes it sound like it wants to take another rate down.

i think b.k. is right. you could see another day. this fed hike could play a big role in what the dollar does and what commodities do. so there is still a lot of time left in the crude trade. i don't think it is over the down side. >> and the dollar can't get above the 200 moving day. it has the longest run below the 200 day since before last year. so you get to oil, there is a lot of different headlines. u.s. production is dropping from 9600 to 94 and change. it is getting better. if you look at the big players, there are a handful of guys that can be approvalable. wolf calls these guys the apple of oil. demand is higher. and you also have comments coming out of iran that tehran is interested in backing out of the deal as well. so it doesn't take much to spark headlines in oil.

>> the atf is 30%, exxon and chevron and still in a massive down. and it did rally, about 2.5% but this seems like it bounced off of 40. i still believe it is between 40 and 50 and until it gets above 50 and you see the supply demand get more in line for the bullish trade, i think it is trading technical and still rallies. >> do you think the equities are long as well? >> well again, i'm more of this is a trade. this is a six week type of thing. yes, it is still in a down trend. what we'll see now in the oil market is supply and demand is being patched at the price in the oil market. that is the process that is going on now. we probably overshot on the down side and now get up to around 50, 55. >> i think if you look at assets. august forced people to reposition and forced their hand going into the fed meeting. my guess is a lot of the rally was short covering and a light

volume rally and it leaves you vulnerable into the fed. and it is the same trade. it is stuff that was oversold and you see people getting relief on the lower dollar. i believe e.m. benefits from a fed hike but it won't happen tomorrow. people will selloff and be hawkish on commodities and anything benefitting from the dovish profile. >> if you look at what was moving, eem, oil was up, gold was up, silver was up. the bond proxy, xlu, utilities were up also. it was a cross current of things going on. >> tim can speak to this. and there was a big move in brazilian real and that played a big part. fed hike tomorrow should be bullish dollar and be bearish commodities. there is still a few innings left to the down side in the oil trade. >> i was confused by how much markets moved today. and i asked one of the smartest

guys i know, we'll call him kevin, and let's just say that the fed does hike tomorrow. yellen will come out and be the dovish you've ever heard her. no matter what she does. she wants the dollar weaker and commodities higher. >> who is kevin? >> who is kevin? >> we shouldn't continue the show until we know who kevin is. >> kevin should be on the fund. >> and he trades on the macro. >> is he a personal friend? >> yes. >> i have an earnings alert on oracle. let's get to jon fortt in the newsroom. >> this just kicked off. one of the figure things that talked about is the currency impact, saying it was two points worse than oracle expected. it was 8% or 9%, 9 point currently head wind impact depending on whether you are

talking about hardware or software. and it was one point worse on eps. it will be important to get the guidance on the call. she is not going to give guide abc for q2 but for the fiscal year because they didn't give u.s. dollar guidance, they just gave nongap guidance and the importance for the fiscal year are important. in software and platform as a service, oracle had guided to growth between 39% and 41% in q1 and they turned in 38% in constant currency. so there is bound to be questions on how they are doing in the key cloud area. >> thank you, john. keep us posts. guy, what do you make of oracle? >> the stock is cheap. and probably is. after last quarter's disaster.

>> i think we can agree, you have to wait for this call and see what they say in terms of guidance. i think this quarter, i think this has a little bit for everybody. but given the selloff and what the s&p will do to the upside, i think the stock is okay here. >> and i don't. and for two reasons. there was time when the licensing revenues and legacy was faulting but people said don't worry they will make it up on the cloud. so now you have disappointing cloud revenue and this places them in a box. and so to me i think you'll see the stock back toward $36 in the coming days. i think it is a value trap. they goen organically over the last ten years through massive acquisition, so tell me, i don't get what you do here with this thing. i don't buy it, certainly. >> of course, we'll keep you posted on what is going on

consider the conference call and whether they give any guidance. tomorrow, tune in for the federal reserve big decision. we'll have full coverage of the press conference throughout the hour tomorrow on power lunch. in need of never-ending pasta. olive garden is back with the unlimited pasta pass but this comes with a twist that could spell indigestion. and a deal for steph curry and could mean serious gains for the company. and we'll sit down with him. and if the fed does not raise, we'll tell you where the fed could put their money. much more "fast money" state ahe ahead.

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got a lot of news within the food and beverage space tonight. so we're doing a food edition. first up, olive garden is bringing back the unlimited pasta pass. now you can eat as much pasta as you want for the next seven weeks. olive garden will sell 1,000 of the $100 regular pasta passes

starting on tuesday for $100 and will sell family pasta passes for $300 and allow you to bring the family. these passes last time sold out in 45 minutes. gee, you're ready to go. >> huge fan. some people on this desk, who remain nameless, dan, would love this. for cheese whiz, not so good. at 20 times forward earnings, the parent company of this whole thing, is a little bit expensive. with that said, there is a potential for a real estate spinoff that would make the stock attractive. i know bondholders said no a few weeks back. i get it. where there is smoke, there is fire. the stock recently sold off. but i think you can own it. it is not my thing but i think you can. >> all you can eat pasta is not your think. >> the stock is not his thing. >> you're a diet guy, i can tell

you that. >> and on margins, this is a slam dunk. who is going to eat that much pasta. >> and we're talking about it right now. for them, this is a good marketing thing. >> we fell into their trap. >> and i would just go into the space, back to tim's mcdonald's, here is a company that feels with the new management and they are going after things after a rocky start in the spring. the stock trades really well in the mid-90s. if you get it back to the low 90s, that is the entry point in mcdonald's. >> next up, a deal could be brewing in the beer space. indeaf is looking for a multi-billi multi-billion dollar takeover. and who is the biggest winner and loser. and pablo joins us on the fast line. pablo, great to have you with us. >> hi, melissa. >> i imagine the anti-trust scrutiny will be sharp and severe. what do they have to get rid of

to make this deal happen and do you like the new slim-down company. >> we like the deal. we calculated the eps accretion could be 30% to 40%. if the deal happens, there is significant topside on the share price if you compare to what it was up today. now fab miller, about 75% of the earnings come from consolidated business, 25% from minority stakes and 75% of the company is in emerging market. all along, when this deal has been talked about for at least the last couple of years, the assumption has been that a.b. and bev have to invest in stakes, such as coors, they own 50% of coors and coors owns 42%. but from an anti-trust perspective, i don't see much else. the rest is really emerging markets and i say that because it is a toss up. but if i can explain in one second, in terms is this very

likely. we expect an offer from bud in the next few days. and then of course, although hostile and it may take a while for the board to approve, with you think that with a 58% free float, an attractive deal on the table, this will be done. that is upside from where we are. >> pablo, thank you. you are a shareholder in inbev. >> cash flow is what they do. that is what the whole margin was about. taking a big company and paying down debt and spinning off. the cash flow will be good. it is why they can make the acquisition and pull it off. but it gives them 13% to 15% creative eps right away and they need to continue to get bigger. and consolidation in the beer industry is almost over and this almost spells the top. the multiples have increased 25% over the last five years and you

to be careful. deaujyo is broader but e.m. growth continues in the spirit space. >> so along toz lines, is it good thing or bad thing like consolation brands and are they distracted so their beer business could flourish? >> it could. i feel like this is a play on margining markets rather than a play on spirits or beer or anything like that. i'm not sure i would buy consolation brands because of this. on bud, this is the best thing that bud could do at this point in time. however it does look like the price action looks a bit like a trap to me. somewhere around 120, would be taking profits in bud. >> sam adams, they went from 325, and the valuation got in the way and now trading around $225. but there is a big short interest. last quarter was good. guidance was lousy. but you can own the stock against $200 on the down side. coming up, will underarmor's

renewed contract with stephen curry will enough to take it to new heights. the ceo steven plank thinks so. >> that will take market share from others. >> we'll sit down with the league's most valuable player, stephen curry, next. you're watching cnbc, first in the business worldwide. in the meantime, here is what is coming up. if the fed doesn't raise rates, we'll tell you where black rock is putting money to work. and kyle bass embroiled in an ongoing patent litigation bat well one well-known drug maker. and now the ceo of that very company is ready to strike back at bass' claims. he joins us live on set. shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend,

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under armour hitting an all-time high after it expected to hit $700 billion by 2018. sara eisen is joining us with that. steph curry of the gold state warriors. hey sara. >> hi. melissa. and stephen curry, fresh off announcing a new deal wither arm

your, until 2024. congratulations. >> thank you very much. i like this brand since day one, this is special. >> how much are they paying you. >> we'll keep that to ourselves now but it is part of being the brand an the partnership and taking it to the new heights. the first years i've been with them we've done a lot and we've just gotten excite -- started and i'm excited to see long-term. >> and nike and adidas wouldn't do something and was that important to you. >> it was important. and it signifies the partnership. i'm back in the company and representing the best way i can on and off the court. when i do things well, the brand and we all grow together and that is the mission. >> some would say why under armour, because basketball, nike dominates. they have almost 100% of the

market so why under arm your versus nike. >> that decision was two years ago. and i love the underdog mentality. that's the staple of my story in basketball coming you through the ranks. and to be able to rep a brand that one is on top of the game when it comes to innovation and technology and how we're building our shoes but also making athletes better across the world. they built a good shoe for me but the casual basketball fans that want to feel secure about what their wearing and to grow and get the market share through the years, is the mission. and i think we're on the right path. >> you're seated in front of some of the new shoes, the curry 2 which you just released. how involved were you in the design process for that and what are you expecting from them? >> i was very involved from day one. you see the sketches on paper to seeing the actual 3-d version. when it caulks about the different color -- talks about

the different colors we have and the telling the story of my background and where i come from and things that the brand inspires as well. but i was talking about the technology and innovation when it comes to speed, form, i don't get too technical -- >> does it score more points with them? >> of course. i know i will by healthy on the court and faster and stronger and they also look good too. >> and guy adami wants to know on the show, who has a better jump shot, you or your father. >> my pops can still shoot. he did it for 16 years in the nba so that never leaves him. so if he was sitting here and you asked him, he would say him. i have to say myself too. >> thank you for talking to us here at under armour headquarters in baltimore. back over to you. >> thank you. sara eisen joins us from baltimore. and right to you guys since you got the answer for your question and we have a question for you. ua or nike?

>> you have to a ua. it is understand it is trading expensive. they are going to grow eps around 43, 44% but you cannot bet against steven plank. steph curry is one he will continue to get in his table. and this guy continually defied options. and you still have to own the shock. and steph curry could flat out shoot him. >> and i am sure. dom has breaking news at headquarters. >> according to the dow jones reports, citing sources familiar, the justice department is nearing a criminal settlement with gm over the faulty ignition switching. they are expected to enter what is called a dpa or a deferred prosecution agreement with general motors. they could face wire fraud allegations. the cement is expected to -- the settlement is expected to be

announced as early as this week and they are expected to pay less than $1.2 billion. that is the amount that toyota paid in a similar case involving the airbags, you may recall. so again, according to dow jones reports, citing sources, gm is expected to settle crimea charge -- criminal charges, less than some analysts were expecting and enter into a deferred prosecution with the doj. and the stock is trading after hours but no movement on it. so we'll watch them closely. melissa back over to you. >> thank you so much, dom chu. and more pressing for gm and the automakers are people are saying auto sales may have peaked this year or next year. >> the numbers were very good numbers. limiting the uncertainty of the background is good but the stocks shows tremendous resilience on the down side.

but it is the sustainability of the margins that people are most worried about. and rep gm stands for global motors and people are worried about the global movement. >> and stock is lower and john has more at the headquarters. >> it was lower than it is now. when they started giving guidance, oracle is now down 1.25. got a few things to get through here so give me a moment. first they are going to be conservative given the macro environment and expect currency headwinds of 6% on revenue, $0.05 on eps. in the software plus cloud line she said to expect growth in constant currency, all of the numbers non-gaap of 0% to 2%. sass and pass to expect growth of 30% and compared to expectations of 47%.

after she gave that number, that is when the stock was down nearly 2%. but some other numbers soften things a bit. negative two to positive one total revenue she said to expect. and also -- let's see, getting down here to a couple of other numbers. she said over all that gross margin in sass and pass should grow to 60% in q4 and then 80% over the next two years to expect 60% gross margin full year in the sas and pass business. then the stock came off of the lows after hours. we'll see where it goes from here. right now it is back down now more than 2% near the after-hours session lows. melissa. >> jon fortt, thank you. just looking at the numbers, on the eps and the revenue side, it was a band of guidance that was surrounding the expectations. so what is wrong here with

oracle? >> well i think in this environment it is what she talked about. she'll be conservative on the macro. and when you look at it here, it had a tremendous run from 2014 and up. and now the number has to hold. that was the 2014 breakout point and that support goes back to 2011. so it is a precarious situation and with that guidance, i wouldn't buy oracle. >> and so with them being conservative about the macro, are we concerned about microsoft or -- >> we are concerned about competition. there is a ton of competition. these are in the transformation of moving the business and people want it to be. and dan brought up a important point. pat him on the back, right now it is trading around 13 times x cash. a lot on the street have it in $45, $50 because they say it

should trade at 15 to 16 times and that is the real question here and i'm not going to answer that. >> is it ibm or microsoft. it acts like ibm. i give them the benefit of the doubt. i don't think this quarter was as bad. i think it will hold. but if people lum oracle and ibm together i'm going to be 100% wrong. the fed decision less than 24 hours away. we have the top strategist to tell you where to put your money despite what the fed does. and throwing the number into the casinos and better yet a bet for $1 billion is set. dan will have more on "fast money" straight ahead. ches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda.

big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. at ally bank no branches equals great rates.

it's a fact. kind of like shopping hungry equals overshopping.

welcome back to "fast money." all money major averages in the green ahead of tomorrow's fed decision. but the real winner, oil jumping 6% making energy stock today's leaders. here is what is coming up. carl bass is shorting biotech while trying to drag them into courts. but one ceo isn't giving in without a fight and here to respond later this hour.

and chinese stocks sending casinos higher. and there is one bet to talk about and we'll name names. and most betting on raising rates, but if they fall, what are the best stocks to buy. dom chu has the latest. >> we keep on chatting about the fed here. but as the fed decides to race the short-term rate or not, perhaps, investors seem really to agree that yields are headed higher eventually, we'll say trending higher. it is a matter of when. if you take a look at some of the particular stocks -- again, some of them move in the bond market. the yield on the 10-year treasury is down since the third quarter began. so trending wise, it is moving slower. a sluggish economy playing into that and the central bank hiking rates all potentially bullish for the treasuries over all. so with that in mind, the

colleagues at cnbc pro used the data partners at ken prolooked at what outperforms when the interest rates tend to fall. you have a utility company in there. southern company goes up in value because the sector is used as the bond proxy. it trades like a bond, and provides income. public storage, another company, other real estate investment trusts are in that as well. as for ross stores, interesting that it may outperform as the customer basin joys lower rates on credit cards and other modes of credit they use. on a side note. all of the stocks closed higher today. of course in the rally ahead of the fed decision. but again just part of the story. for the full list and other names, subscribers go to cnbc.com/pro and check out the full story there. melissa, back over to you. >> dom chu, thank you. and utilities and reits being bond proxies. >> that certainly makes sense in

that particular case. ross stores was weird. that seems like an out liar, i would throw that out. >> i have to take issue with that. when you think about the utilities how poorly they've acted in anticipation of rates going higher. that is what we're focus on. we're not looking at them going lower. i think you take a shot toward lows and they've reacting well over the last couple of daves as rates have eeked up a little bit. i think utilities is a good spot. and then i would look at staples like proctor and gamble. we mentioned last week on the show. this stock is down from the low 90s to about $70 right here. it has almost a 4% dividend yield. i don't care that the fed fund is going up 25 bips. the stock is oversold and still has the fat yield. >> where does eem fall in this. >> i think they are up 10% since the august 24th low since 5% for the s&p. it was so oversold it had to

bounce like this. they are building a base will will trade off on a fed hike. >> meaning trade lower? >> 34 at key level and 33 and 32.5 is where i would play for the down side and build a major position. >> whether the fed decides to raise rates or not, our next guest thinks your environment opportunities are outside of the united states. black rock's global chief investment strategist. ross great to have you with us. good to speak with you. is it because money will remain easy around the world and less easy here in the united states? >> well, melissa, that is a big part of it. whatever the fed does tomorrow, we know or we believe that at some point in the next four to six months they are going to start tightening. and that is in contrast to every other major central bank in the world, with the possibility exception of the bank of england. so one thing is leavering to easier monetary decisions in japan and europe. but the other issue is valuation. the u.s. has been trading at a

premium to the rest of the world for some time. to some extent that is justified. when you look at the size of the premium relative to germany and japan, in the long-term, the better value sim comply lies outside of the united states. >> russ, this is tim. so if you look at europe and you break down the story, is it that finally the ecb has caught some wind and started to generation an economic recovery or is the weaker currency and plus -- something these guys haven't seen possibly ever. >> all of the above. i mean, clearly you finally get a bit of traction in europe. we see credit growth start to expand for the nirs time in some time. the weaker euro is a tail wind for the exporters just as the stronger dollar is a head wind for u.s. companies. and finally, you have the notion that unlike in the u.s., where we see the margins are pretty much as high as they are likely

to go, there are much better prospects for european companies than for u.s. companies and of course to your point, that will help the earnings per share growth. >> so russ, real quick, put your fx hat on, what will happen in the dollar if we are beginning a tightening and will that mean a rally and what does it mean for u.s. equities. >> i think the dollar will rally. maybe in the short-term, maybe not, because i think at this point the fed is not particularly aggressive in 2015. but if i look out two or three years and i go back to the notion of divergent monetary policy and the fed tightening and the ecb easing, that is a head wind for u.s. companies an that is the reason we've seen per share earnings growth in the u.s. grind to a halt. >> thank you for your time. russ of black rock. do you agree, outside of the united states? >> no. i disagree. if you get a dollar rally, it is not good for europe.

i don't care how low the euro goes. it is not good for europe. because we'll get the same credit contraction in emerging markets and around the world and that will hurt germany. i know there is credit growth there but globally there is a bigger picture going on. >> and i would say, i don't know how if every other central bank the world over is easing and we are about to tighten, that the dollar is going lower. i don't see how that could happen. >> but the dollar is down over the last few months, over 4%. everybody is saying the dollar is ahead. what is going on. and those companies with head wind -- >> what was the last spike lowner chinese equities. didn't it have to do with the devaluation of the companies. and i think the dollar is basing for -- >> everybody is talking about the dollar is given. it is down and having trouble getting back up and we've known about that forever. >> two missed their results. the results and the forward guidance because of the strength

of the dollar. fedex this morning and oracle today. and the stocks are trading lower. this is important though. it is really important. it is a continuation of a trend. >> wow! this is heavy stuff. >> hot stuff here on the desk. >> it is unfortunate. they should be sitting polar opposites. >> separate them. >> separate them in the break. >> tune in tomorrow for full coverage of the fed's decision on rates, coming 2:00 p.m. eastern time and janet yellen's news conference starts after that. a full day of coverage here on cnbc. coming up shares of general electric are jumping today and are they about ahead higher. and listen to what kyle bass said on cnbc yesterday. >> there are plenty of pharmaceutical companies that innovate. we are filing challenges on those drugs that -- that allege innovation. >> the ceo of one of those companies bass is attacking accorda therapeutics is here live to respond to those

comments. much more "fast money" still ahead. ve management can tap global insights. active management can take calculated risks. active management can seek to outperform. because active investment management isn't reactive. it's active. that's the power of active management.

so what have you got? that's some next level stuff right there. nfl bistro chairs! huh? no? your order number is two. this is kinda cumbersome. i guess my question is, why? to see a great idea go to courtyard.com for your chance to wake up in the stadium on super bowl sunday. courtyard. official hotel of the nfl. don't hurt yourself... whoa, whoa... when you understand how the pharmaceutical business works and how if you look into how drug pricing works, it really

got under my skin. we're going to fight this fight. we're well-funded and we have all of the time in the world, the way that we have this set up. and we just want -- we want our challenges heard on the merits. and if we win, drug prices get lowered for everyone. >> that was kyle bass yesterday on "squawk on the street" saying why he will not give up his fight against drug patents owned by pharmaceutical companies that he say cost the public tens of billions of dollars a year. here so respond are dr. ron cohen, ceo and president of acorda, and one of the companies that kyle bass is targeting. >> thank you for joining us. >> and in his interview yesterday, he said he is only targeting the drugs that aren't innovative any more and shouldn't receive the protection, exclusivity because they are extending their patents to keep printing money essentially. how do you respond to that? >> okay, so, the first thing that i think is important to

understand is kyle bass is not the problem. he is unimportant in the fact that he is the symptom of a bigger disease because he is exploiting a weakness in a system that congress created a couple of years ago, the ipr system for challenging patents. and what is important for people to realize is that that system was created for a completely different purpose. it was created to allow company to fend off so-called patent trolls. people who buy up patents and then assert them and look for people to pay them off so they won't sue them and so on. which is a laudable goal for congress. but inadvertently what congress did was they created a system that bypasses the existing system for adjudicating biotech type patents, okay. that is called the hatch waxman system and has been in place for over 30 years and here is what that system put together very carefully 30 years ago by congress has done. it has allowed 90% of the drugs

produced by the biotech, biopharma industry to be generic today. they are already almost 90% jen eric but it preserved the explosion of new drugs ab better drugs to come on the market over time. what this new ipr system has done is to create a second system that companies like mine have to deal with along with the existing hatch waxman system. and that's dangerous. and the reason it's dangerous is that it is scaring away investors who, as it is, have to wait between 10 and 15 years for us to successfully develop a drug. and when i go to an investor and say, hey, could you put $100 million into my projects to develop this new drug for alzheimer's disease, let's say. and they say, well how long will it take. and i say 10-15 years. and what are your odds of success. one out of every 5,000 molecules

goes into people for testing becomes a real drug. and they say, yeah, i'll take that bet. >> but if the patents under your drugs are that strong and should be valid, then why does it matter the mechanism by which it is being challenged. >> they created a lower standard for the courts for adjudicating whether patents are valid or not. so they can easily be in conflict. and as a matter of fact, just this year, one company's drug patent was upheld by the court and then on appeal by the appeals court, and another hedge fund, not kyle bass, because others are jumping in now because they see the weakness to exploit, filed an ipr on the same patent the court said was valid and they said well we acknowledge that the court said it is valid but we're filing the ipr because it is a lower standard so this time we could turn the patent over. >> so would you have an issue

with the ipr system if it was just filing through that system or is this the issue with the hedge fund companies trying to hold your stock. >> hatch waxman deals with the branded companies and again what everyone needs to understand is that it works really well. almost 90% of all of the branded drugs that have ever been innovated are now generic. and we still have the ability to attract investment. last week, 22 major venture capital groups that together invest over $75 billion in medical type biotech companies wrote a letter to congress saying, please turn this back to the hatch waxman system, the way it has always been, other wise we will not be able to invest in these innovations. over 100 patient groups wrote a letter to congress saying we need these innovations and this

ipr system is making it so the investors will not invest in the high risk drugs. it is a real danger to all of us. anyone taking care of a parent or be someone with alzheimer's or have a child with cystic fibrosis and we need new answers, we need to tell congress to change the system and turn it back to the system that has been working for over 30 years. >> so dr. cohen, i want to get in here and have you address shareholders directly because they are concerned when they take a look at a patent challenge like this and hearing kyle bass say they have all of the time and the money in the world they are worried for your drug, which is 90% of your revenues, that there is some danger. and now steve points out there are five orange book patents that protect your drug. how confident are you that in the end kyle bass will not prevail? >> i can't get into the specifics because we're in litigation, obviously. but it is an opportunity to point out that the original two

filings by kyle bass on our patents were rejected by the patent office. a week later he came back and filed again on the same two patents, plus two more. and that illustrates another danger of the system, which is there is no end to it. again, congress inadvertently created this and it is very dangerous for innovative companies like acorda and all of the biotech companies out there who by the way most of whom are not profitable and sinking billions of dollars into creating new medicines and this is a danger. >> and have you talked to kyle bass because it sounds like he is an annoyance to you. >> my concern is not kyle bass, but kern is the ipr system system who are allowed to exploit it on this basis. >> thank you. and our thanks to you. our biotech reporter of acorda

therapeutics. meg has been covering this from day one, practically. >> he speaks to a much larger issue. he makes a good point. if you can't innovate, there are no more drug companies and you have to speak to the parents and those suffering from the diseases that have nowhere to go. that is really the root of this. i would love to think kyle bass is being altruistic, i don't think that is the case. i think it is just for show. he is going after companies with small market caps because he can knock down the stocks. i think you can trade lower -- >> and he's a hedge fund manager and he's in it. that is the bottom line here. and coming up, the casino stocks rallying and one are betting $4 million on. we'll tell you what that is after the break. you're watching cnbc, first in business worldwide. our cloud - it's a platform based on awesome-ization! really? can it keep our data where it needs to be no matter what country we're in?

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welcome back to "fast." casino stocks rally on the heels of a strong move in china and one trader bet more than $4 million that the good times will continue for one name in particular. dan is at the smart board with all of the action. dan. >> and the name was mgm, the name with the least revenue

exposure unlike wynn and lvs. they have a third of the sales that come from china. and calls in particular were four times average daily volume. and today, as mel just said, a trader rolled out a bullish view in mgm calls. when the stock was 2060, the traders held 20,000 of the september 20th calls at $0.71 and rolled them out to the december 20ths for $22.16 and that is $4.3 million in premium. and it is up 7.5% from here. and one of the things that is interesting and when you dock over and look at the chart, look at what the stock has done. it is moving up as of late. it is unchanged on the year, versus wynn that is down 50% and changing with the shanghai composite here so this trade ser making a bet maybe a little bit of improvement in china and here in the u.s. and i want to make one point about the options trade.

this is the volatility. and the options had a big smiek in august. it has come in before the market sold off so the traders looking for at the money to participate with relatively cheap options here. >> thanks for that, dan. for more, check out the full show on friday at 5:30 here on cnbc. coming up next, the traders tell you what they are watching tomorrow on what is sure to be a huge day for the market. stay tuned. i'm here at the td ameritrade trader offices. ahh... steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this.

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we have got a huge event for the markets tomorrow. full coverage of the biggest decision by the fed in years and janet yellen news conference starting at 2:00 eastern time with me and brian sullivan here on cnbc. with that in mind, time for an important trade. around the horn. tim. >> you have to watch the dollar. and i was talking about it from a macro perspective. i think the dollar goes sideways but again you watch the dollar. >> i think sideways is a problem for the multi-nationals exhibited in oracle results and guidance. i don't think the results were high but i do expect to see it back at 96 in the next few weeks. >> tomorrow you could see janet

yellen being dovish which would be weak dollar and bullish for oil so watch how the oil market trades tomorrow. >> gold sister, i'm watching that and lines of team seymour. >> see you back here seymour. "mad money" with jim cramer starts now. my mission is simple of it 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." coming to you from cnbc's bureau in the heart of san francisco. other people want to make friends.