the trading revenues are the best ever. >> a busy hour that does it for closing bell. fast money begins right now. >> fast money starts now our traders on the desk president trump lashing out at amazon today we will tell you what he said that has tech investors so worried. blue apron is pricing their public offering after cutting the price range earlier today. what it could mean for the debut tomorrow we start off with the banks

jumping after hours. all 34 banks pass their stress test moments ago let's go to kayla for the details. >> it's not just that all 34 banks passed the stress test, but for the first time, the fed gave a green light to the 34 banks plans to give capital back in the form of dividends and buy backs and the banks responded in a big way with announcements in the case of citigroup and jpmorgan of the two largest bank buy backs on record. for citigroup and pmorgan, $19.4 billion. it doubled to 32 cents a share the stock is bumping up despite having to recommit the plan and being conservative

there is one firm being conservative and that is capital one. they will be buying back billions of shares compared to 2.5 and 40 cents a share per quarter. the reason being the fed had objections on a conditional basis to the way that capital one manages risks and models for potential losses and what the fed called one of the most material businesses. they cleared with continues and have to resubmit by december 28th if it doesn't meet muster, the fed can freeze the capital plan that capital one has in place. this has taken on a new tone the senior fed officials said the banks are capitalized and

the u.s. financial system is safe >> this would give ammunition to those who say there should be lighter regulations on the banks and not even this level of stress test next year. >> the criticism is that regulators are trying to litigate the past crisis while the stress test have come to be lotted by bank official who is say they are good things and maybe we can do that more frequently some critics say the stress tests are designed to prevent the previous crisis and less so to forecast what the next could stem from. that being said, the fact that the banks are passing this test with flying colors at this point is a positive. >> kayla in washington the banks have been soaring tonight and the financials up

2.5% in two days on the third stray day. now with the stress test results behind them, is this the start of a bigger break out that everyone has been waiting for. do you keep buying the banks here this is enormous the buy back is huge if i think it's really right, for the four for thes. it's over year that's an enormous buy back. that's really positive for buy back bank of america, jpmorgan are what i like. it's not so shocking we knew that citigroup was ov

overcapitalized. it's not so shocking, but nice to see anyone. >> as a yield play, it's extraordinary. when you think about where they come from, when you think about the names, it's the names that had the biggest targets on their back this is coming where he had an inflection of rates. we will talk about that and we talked about it this week. if you put an environment where banks have the ability to make money and on the core lending businesses, the cheapest banks should move the highest and thes with the biggest targets should move the most. citibank and bank of america and european financials. >> we saw a move with the 10-year yield up to 24%. that's extraordinary that alleviates the weight dragging down u.s. treasury. >> so globally we are seeing the banks say it's the end of the easing and we are getting back to a cycle you asked the question, do you buy back over a 4% or 5%, i want to take

profits. that to me is one way to play it it's because of the yield curve. i thought we saw an inflection point and they look like they will be higher at some point, that will be head wind for stock, but not today. >> riddle me this. as karen had mentioned before, most people expected these banks to pass with flying colors most expected dividends and buy backs to be increased. they knew that city was ov overcapitalized. why have things changed enough everything tim has been saying and pete has been banging this drum as well, banks trading at a discount tangible book, for example book value is 75 and change.

can it trade up to book value and is it legit to think they can trade equal? yes. something i think we have you will been saying, some more vociferous than others do they still have room? 100% as long as it holds which is done a couple of times, the banks are a buy. >> do you think not so much of a value anymore. >> we think value is a value 66 is up another buck and almost two bucks now. >> they under perform and different businesses let's be clear the first quarter numbers show they are very diverse and making money in a lot of businesses and as much as people look at the

growth and you see the growth overall. down 2.5% up 80 or 90 basis points going into this announcement that continues we know that capital one is coupled with subprime auto loans doing as well. that to me is something to watch. i don't think it's something to panic about today, but something to watch if there is any type of contagion. >> you have to recommit in about months the signal we are getting for the markets, is it perhaps that there will be a later regulatory touch. the banks have passed and we are past this and don't have to pay as much attention.

it doesn't give elizabeth warren enough as she had in the past. these were in the penalty box. >> the reaction continues. let's take a look at discover financial raising by 17% to 35 cents a share. also announcing a $2.23 billion buy back switching focus to the regional bank. that is increasing by 50% to 12 cents and keep in mind, $465 million buy back we will go up quarter by

quarter. it will be much higher, triple what it is right now at 24 centings a share you are looking at up over 1%. we will stay long. you are choosing that because it has more exposure? >> the other part is you go to xlf. you have capital markets exposure, but we have very low i thought you get a bigger bang for your buck. i chose the regionals over the bigger xlf >> anybody adjusting their positions at the back of the stress test? >> discover financials, this was a $74 stock and trading 62 you look at the stock in terms of valuation and it will grow at 13%. it's trading around ten times foreign pe they put in a floor and i thin

dfs might be the one >> this is good counter balance and what we have been hearing loud and clear the other side is that these balance sheets are extraordinary. there is no sign that we are seeing anywhere near the type of a credit issue i get back to places where i think you have a lot more uncertainty in terms of the balance sheet. go back to the european banks. you have a place where you get the growth that is forcing the banks to say we may have missed the inflation trade, this is where you want to be exposed you want to be exposed to the banks that have the most leverage in the economy. >> our next guest is the biggest on wall street they have a very optimistic 11 of 700 the s&p would be higher from about 10%.

>> it probably happened before january if it's going to happen. >> what are drives this 10% rise >> it's funny because we were talking about 27% and now we are 10% closer the earnings story has been spectacular. 13 to 14% earnings growth. how do we get the next 10% earnings growth and multiple expansion. the push back i get is on the multiple expansion side. we have better growth in earnings as well as economy.

interest rates are a core part of the call. what happened yesterday as we will get to in a minute, i have been saying for a long time, the only way that rates can go up. that's a 5 and a quarter inverted 19 times. this is the part of the story that they are not willing to embrace. this is the most hated bull market in my career. i'm pretty old >> so are we every time you get a drawdown, it takes that every week in response >> let me ask you about that that's like five boxes cross energy out of five had two reds

and one yellow two greens >> i had the same question >> it seems like it wouldn't be an overweight. >> sometimes you have to have a contrarian view. >> three of them are financials and industrials. energy is in the zero percent i'll it's the lowest waiting and no one owns it. it's for good reason if you go back to two or three weeks ago and one stock. these are extreme measures when you get that extreme, we have to take a swing because of the picture we believe for crude starts to look better draws are starting to happen we went down and touched at the 41 level that's all it's going to take. it won't take much to get it

going. >> why being overweight as opposed to a neutral >> that's how you make money i think the risk reward energy will look good >> they have the peg to a 275. how does the math work and what does it do to the multiple that's the full point. we just get the earnings expansion. that's a symmetric the beginning of this year was clear we would have a powerful recovery this year maybe i get paid for that.

whether it's successful or not, but i like that call it's not a problem today it's six months or a year problem. the rates are the head wind eventually just in terms of trading sentiment, we will see he makes a compelling call >> coming up, president trump with harsh words about amazon and why it has shareholders worried. one group of tech stocks are soaring, but the hot names are about to burn investors. what they are and why he is sounding the alarm recognize that base without his entourage? jeremy is in the house with his

new sunglasses line. how he is using amazon to get ahead. much more fast money after this. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.

(baby crying) ♪ fly ♪ me to the moon (elegant music) ♪ and let me play (bell rings)

yeah, and i can watch thee bgame with directv now.? oh, sorry, most broadcast and sports channels aren't included. and you can only stream on two devices at once. this is fun, we're having fun. yeah, we are. no, you're not jimmy. don't let directv now limit your entertainment. xfinity gives you more to stream to more screens.

>> published an article for fake "time" magazine cover dated march 2009 in his golf resorts and trump tweeted that amazon's "washington post" is fake news and accused the company of not paying internet taxes. today's tweet is the latest in the firestorm against the tech giant. he called them a big tax shelter. is he going to target other big tech names >> yes is the short answer they don't pay taxes in a google search i could have figured out that they are paying taxes and i'm not that bright. as you come to learn >> you are incredibly.

the real question is will it impact the price of the stocks we are at a point of margin returns where it doesn't have that much effect they were up a percent and a half >> if he does go after big tech, the repatriation, one of the policies will be helpful they are the ones that have most of the money overseas. he may go after them it will not have an effect on the price at this point. >> keeping also with a pending deal with whole foods, he can't do anything himself. it's a department of justice sort of thing. he doesn't have perview over those things >> the super market deal i can't imagine the antitrust. together they own the same alone. >> we have breaking news on staples. let's go to the newsroom

>> speaking of deals, staples entering an agreement to be acquired by sycamore partners for $10.25 a share, valuing the company at $6.9 billion. we are looking at the stock moving higher after hours. building on the gains we saw today. up by around 7% on this deal this comes about one year after staples attempted merger that office depot was blocked sycamore as you know do specialize with retail investment they own hot topic among others. >> i wonder what the thinking is here it's getting intermediated by the online competitors >> you can come in and change that let's take best buy as an

example. they were able to change things around and they turned the company around maybe you think about that here. remember we talked about interest rates and rates are cheap and money is cheap this is what you get towards the last end of that >> office depot. they tried a couple of times and the merge was not going to happen th they are applying similar metrics. >> we knew it was out there and talked about internet. e commerce in the staples space. these guys are most under attack of any space other than what we have talked about with regard to amazon >> we have news out of the

trial. he has been monitoring what turned out to be colorful opening arguments. what did you hear? >> we expect nothing less and the prosecution finished benjamin took the floor in riveting opening comments and painting martin as a complicated guy. that he said the jury would find weird and trying to paint him as a genius he quoted lady gaga and said he was born this way. and really trying to make the case they didn't lose money and they made a lot of money. they are not actually victims. the boy genius put their money to work with

the government is alleged that he lost the money and lied to investors a& someone who was bullied by coworkers and did it sound like a sympathetic portrayal. they finally got the jury and describing the guy as weird doesn't make me feel sympathetic. he is a jennuous and these people who are rich will put their money to work with him that's his argument to the jury

right now. >> sounds like an attempt to distract the core element of the case that was money embezzled or mis pope riation of fun proep riation of funds the jury can hear that out it sounds like a distraction to me >> coming up, we are waiting for the pricing of blue apron that cut the pricing range. will they find the stock appetizing you are watching fast money first in business worldwide. here's what else is coming up on fast >> look ma, no hands they are taking it for a test spin and he will tell us if it lives up to the hype jeremy is in the house >> me why in god's name is this

happening? >> relax we will tell you he is here to explain why the retailndtry iushas one pair of sunglasses at a time when fast money returns. china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers like ray can compete in big ways. china. oh ... he got there. that's the power of and.

we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly.

>> welcome back to fast money.

tech stocks despite a tough couple of weeks and a number of names still soaring. they could be entering the danger zone breaking it down as a man who laughs in the face of danger hey,dom. >> danger is my middle name. actually it's not. we saw a bounce from the lows yesterday. there are a number of tech sector members who are trading above their recent trend line. we picked out the stocks the furthest above the 50-day average price. among the names, you have pay pal around 7% above the trend line 10% above the 50-day moving average.

a handful of hot stocks. the spider tech sector, the xlk did close yesterday below the 50-day moving average for the first time since april 13th and about a third are still trading below the respective 50-day moving averages. tech still remains the hottest sector on a year to year basis there is concern about the slow down at this point and health care is a couple percent away from taking the year to date crown over from the tech sector. >> thank you don is back in the newsroom. anybody still a buyer? who would fade >> i would buy more here there is multiple reasons to buy them it's a way to play ai and mobile self driving cars and it's a way

to play. i don't need much more of that i think they are still in those. they have enormous exposure to payments and at least those going on in a place that are blowing past the infrastructure. let's go off the charts with rich ross. >> these chips don't lie and they skip them in the chips. let's go to the chart, the benchmark as you know. the trend is strong. thats you how strong you have

been it is held for over a year now about three weeks ago on that friday, you see that big bearish pattern, the first shot and the sector has under performed ever since. let's pick on a name here. lam research has been silent and hello. you see the clear signs of trend caution. phi told you the stock is more overbought or had been more overbought, at any time ins it history, you would think i'm lying, but i'm not we have the clear trends and the big most overbought conditions on record. that gives you the beans and the

i can anty every time i watch the show, they have been talking about the break out in the biotech and we get it here. this has been a revelation we alluded to it and health care is the biggest performing sector up 20% and emerging from the 18 month base of support after a 40% bear market decline. you are a buyer of that break out. here's where the real magic happens. this is simply the biotech divided by the semiconductor we see clear under performance on the way down. biotech and outperformance of fees however we see we are bumping up into the 200 day moving average of this pair here. a break out above the 200 day would suggest that you want to be a better buyer of biotech to

pair the two together. two great ways to play the rotation in the market and the cross sectors and take advantage of those exhaust and overbought semiconductors in the short-term >> can we come over for dinner >> the research has been silent. >> does that mean technology will break down? >> in the short-term, that's my call i don't mean the end of technology, but there is further to go in the pull back given the volati volatility a pull back would be consistent overtime, but inconsistent with what we have seen over the past 12 months. >> we have sliced off the top of

the tee pea which we like to say in native american land. do you believe we can get back there and does that constitute a pull back? >> we have the triple queues lower than where we are today. yes, that's lower. i think we get back down there and it sounds like somewhat of a hysterical call almost because of the historically low volat e volatility we have to consider the transition against the backdrop of the overbought conditions >> what would have to happen to participate? i don't have a big rhyme for it. >> understood. if you started to see a reemergence of the trends, you would have to take out the old highs. that leaves a lot of room with the group down 7%.

we are far from it now and they suggest that the risk reward is as unfavorable than at any time this year. biotech or tech? >> biotech the man watches the show and says it all the time genius at the plasma >> stillahead, plasma. going hands free with the super crew system. how is it, phil? >> melissa, cadillac is the no the first oddo maker to offer the system where you can take your hands off the wheel what's different it's because of one crucial e technology. what is it we will tell you when fast money returns.

general motors taking on tesla. phil got to check out the new feature and what did you make of it >> i thought it was an easy to use system and it's a system you can only use on the highway. having said that, i have been in

the car the last several times and i found it easy to use and comfortable and something that people will find definitely in addition when they buy the cadillac ct 6. what's different about this? a number of automakers let you take your hands off the wheel and has to do with the little camera that monitors the eyes of the driver and the head position when we took the vehicle out for a couple of test drives, and we did test out how it does when it comes to you not paying attention. you doze off and decide you will look away for them it will be less. make no mistake. this is cadillac's answer to

tesla and the feature that has gotten so much more attention. if you continue to ignore it and you stay asleep and you don't feel the vibration of your seat and the lights flashing and an on star operator will come out this is made by a tech firm and we profiled them about a year and a half ago that is the key ingredient in the system

>> phil, thank you driving around or sitting behind the wheel, i should say of that car. >> let me get this straight. they have secinology if you are not paying attention, it tells you to pay attention to the road this could make your mother-in-law obsolete if that's the case, i'm all in kidding. with that said, they have a stock at the beginning of 2014 or 15. it has been going sideways now a bit of a range, but it's the same price the push back has been moving the needle for gm. my question is what will >> tesla is one way to play it, but i don't think you buy gm that's not something that people will buy in droves because of this it's part of the way cars are

going. i would rather be in tesla than gm >> expected to price any moment now. they may not be as fresh of an offering as once thought >> they have more from the news than leslie probably did >> the puns are numerous, melissa. in a rare move, the price range is this morning. the company seeking 10 to $11 a share after investor demand was too weak at the earlier 15 to $17 range. this is a troubling deal this is no doubt about it that makes pricing much more challenging. that's why we have yet to see the official price be decided at this time. it's uncommon for companies to refile with a lower price range. 4% of companies have done so since 2010 big investor concerns engulf the model and they then cook

themselves these investors are skeptical about the cost blue apron's inability to keep loyals they are nervous about the environment not just with other start ups, but the looping tie up between amazon and whole foods. in lowering the range, blue apron is forfeiting about $200 million in proceeds and shaving $1 billion off of the valuation. blue apron is asking for a price in line with what was paid two years ago. coupled with snap, this is not a positive sign for the ipo market or for the private funding market guys >> the sentiment going into this reminds me of snap people were so contrarian. they spent a lot in customer acquisition and mentioned the marketing cost and gone up about 180% more than the revenue that was very troubling you would think you would get

some leverage from having big revenue growth the expense percentage would go down, but it's going the other way. it's disturbing. >> the amazon deal wa people fail to recognize is their ability to have quick turn over operations and have the data and reconfigure the stores and talking about a company where they continue to burn enormous amounts of cash. i think it got intense doesn't surprise me they are running for cover. >> the delivery that amazon already has, they just need to flip a switch and put a bunch of ingredients in a box and boom. >> any grocery store my grocery store that i do online deliver fre, they have a recipe and they say i want that and it comes there it comes to bk and nobody paying anything i don't need to buy an apron or any type >> i am going to refrain on commenting tomorrow i will be a blue apron

chef >> blue aproner. >> i will cook with the ingredients they send me to my domicile >> you will bring some for sample >> you will in your kristen? >> yes >> literally wearing a blue apron? >> maybe nothing else. >> that's where the conversation ends coming up. ahead is the news report, but trader said it could run into high hurdles plus jeremy piven is going to the runway with a new sunglass line abitill tell us all out when fast money returns.

the power of innovative thinking. the power of 100 of the world's top companies. the power of an etf. the power of qqq. the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc.

cotthat's why at comcast,tn. rto be connected 24/7. we're always working to make our services more reliable. with technology that can update itself. and advanced fiber network infrastructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. nearly 100 film and television credits, jeremy piven is launching eye wear and using amazon to make it happen they discuss their plans to throw shade. >> nice, nice.

>> we all have sunglasses here i will join on the party >> were you always interested in this is it a secret dream of yours while pursuing your acting career >> i never did >> i'm sorry to interrupt you. we have breaking news. we have to go to meg >> i'm not going to comment on anything about this case until the case is over we will try it in the courtroom. i appreciate that you have a job to do. >> can i ask you more question with all the lady gaga references, do you rich he had a poker face >> i'm happy with martin's face the way it is. thank you. >> that was meg terrell with the attorney walking out of the brooklyn courthouse. >> we have the pricing on the blue apron ipo >> we are looking at 30 million shares at $10 a share. that's at the low end of the new range that was disclosed this

morning. that means they will be raising approximately $300 million, hoping for a pop tomorrow is the sense i get. back over to you >> leslie, thanks for reducing that range this morning. the pricing at the bottom of that range $10 a share. aprn tomorrow. let's get back to them we have breaking news here sunglasses were they always your dream with the films and tv shows that you have done? jamie had this moment where he put the glasses on that we grabbed them and they were inexpensive for this and he was big on social media. we became friends and took a trip to israel together. jamie came up with the idea and said what about really great looking affordable sunglasses.

it's a simple idea it seems to me and you tell me that the clearest most truthful and simplest ideas sometimes are the ones that breakthrough and why not have the same quality and that's what we are doing. >> is a secret not relying on a macy's or distributor? >> no. the secret is pricing your product fairly you have been continued to think it's normal and it's not someone said to me, how do you make such great quality eye wear and charge that? you should be asking how does everyone get away with charging what they charge >> that's true would you wear these

have you been getting traction with your celebrity friends who wear 200 to $500 glasses >> and will be hip to wear $30 sunglass sunglasses >> we have done this test where i will put on the tom fords of theworld or what not and say which do you like? the variable is what looks best on you they choose this because you pick the one that fits your face they are made really well and there is a huge line so there is something for everyone you can buy a few pairs of them and if you break or lose them, it doesn't break the bank. >> you don't know the world, but is this a company that can go public could you be back here your partner is saying yes

>> the i think the mark is tremendous it is dominated and we are breaking through tremendously and we are profitable with one that is unusual. amazon to answer your question definitely makes the buying process online easier. we are opening up retail stores and will start distribution as well amazon definitely makes the buying process so much more seamless you have a new series in the fall as well we will watch for you there. >> i don't suggest wearing the sunglasses indoors >> well then here we go. >> i think we will keep it for the rest of the show >> staying on.

>> that has been for the past 11 minutes. >> let's stick with retail after the bell the market is implying for the retail giant they break down all the action hey, mike. >> nike is the name that moves about 4.8% on earnings actually implying a move of 5.2% given the $90 billion market cap that, is a swinging value of $4.5 billion that puts out the number and calls about 3-1. they report after the close tomorrow >> thanks for that for more "options action," check out the full show. coming up, final trades. hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right?

oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade we created the ripple: the doughnut in a doughnut in a doughnut. right away, it was a success. i mean, it really took off. what people don't know

is that it all started with points from my chase ink card. i bought the ingredients, utensils, even custom donut cutters. wow! all with 80,000 points. what will you create with your points? learn more about the ink business preferred card. ♪ at johnson's we care about safety as much as you do. that's why we meet or exceed 15 global regulations for baby products. and where standards differ, we always go with the toughest. johnson's.

>> time for the final around the horn >> a dramatic use of sunglasses. rates are going higher across europe >> if you have valium, i would call against it. it had a big run >> throw back thursday

you buy some tbt >> a fun show. we got our own and we didn't have to pay for them >> come on >> we will get you done despite the move up. i'm melissa lee. 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 some money. my job is not just to entertain but to teach and coach you so call me at 1-800-743-cnbc or tweet me @jimcramer. every night i come out here and tell you what happened during the day, why it happened, and what you can do with the information.