economic summit today, kelly >> reporter: yes, when we ask whether the carried interest deduction should stay the way it does, we hear it's ridiculous. i followed up with danny meyer and said, really, should chik-fil-a be worried? he wouldn't say anything i'm going to watch that, there's a chicken concept coming >> all right we'll watch for that watch out for those chickens that is "closing bell. we'll be reunited tomorrow at the new york stock exchange, which we look forward to "fast money" begins right now. good night, everybody. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square i'm melissa lee. your traders on the desk tonight on "fast," disney announcing a massive deal to buy a number of fox's assets for $52 million. and it looks like disney ceo bob iger isn't going anywhere soon

plus bitcoin week continues here on "fast money. that means two things. first, we'll hear from the app at the center of the bitcoin boom the president of coin base will be here. we'll ask him which currency will be added to the platform. second, it's ack that's right the bitcoin bug is here. you see it there at the corner of your screen we'll be tracking the price via the coin based app throughout the hour first, trouble in tax cut paradise some of the most tax sensitive groups, small caps, banks, retail stocks, all sinking as it looks like the bill may not be a done deal. ylan mui in d.c. has all the details. >> reporter: melissa, senator marco rubio is threatening to vote no on the tax bill unless the child tax credit is expanded he's particularly mad because the proposed corporate rate went from 20 to 21% but that extra revenue went toward lowering the top rate for individuals rather than a measure he said will help

middle class families. in a tweet that he put out in just the past hour, he wrote, "adding a few hundred dollars in refundable cuts for working families who always seems to be forgotten isn't hard to do." his decision is critical because republicans can only afford to lose two senators. we already found out today that mike lee of utah, who had been working with rubio to get that bigger child tax credit, he is undecided. also on the fence are some of the usual suspects like susan collins of maine and bob corker of tennessee we found out also that vice president mike pence is delaying his trip to israel next week so he can stay in washington in case his vote is needed to break any tie. a few details of the bill are continuing to trickle out here we talked to john cornyn who is one of the top republicans in the senate we asked him about that first in/first out provision, whether it was going to stay in the final version of the bill.

he told us, i think it's going to be out. we'll find out tomorrow when the final version is released. >> thank you, ylan mui in d.c. hopes the tax cuts were coming sooner rather than later. the dow is up 5% since the house passed its version of the gop tax bill in november if a deal gets killed on capitol hill, will that be the end of paradise as we know it, tim? >> i don't know if i can speak after getting reacquainted with that song for the first time in a couple of decades. ♪ almost paradise >> there we go, guys so the debate always rages, and it's raged on this desk, how much tax reform has been priced in we'll talk about that in a second, won't get into that. i think it's politically expedient for guys like marco rubio to get out there and grandstand, be on record as we get down to the wire there's a lot of grandstanding, more than i think people are going to stand in the way of this bill.

i think it's probably going to get done i agree there are some elements of this deal that seem to be not paying enough attention really to the american people >> yes i think it gets done i thought for a while it would get done even if it's watered down, even if it's phased out over time, even if it's not quite right. the momentum -- actually it's not momentum the need for the republican party, particularly after earlier this week to get something done, is so great that i think they will do whatever they have to do to get this across the finish line i think we saw something similar in obamacare at the very end, you had a lot of parties that were unhappy yet he jammed it down somehow i think that's what president trump will do. there's a lot to not like in this bill. but i think they'll get it done. >> if we do see the stutters in the market, the groups we highlighted, financials, small caps, are there opportunities? >> yeah, the banks, i sold some

calls, i'll look to buy those back to go to. >> the 1% selloff in russell tonight, i agree with you guys, this is what politics is, this is what they do. at the moment they have the most leverage, they come out and ask for what they want to ask for. the markets sold off today, i think it's because of that that to me is a buying opportunity, i agree if they don't come through with something, the pressure is going to be a huge problem for them. so you buy these dips. >> and that would be a dip to buy. if you're looking, waiting for the opportunity for a pullback listen, all we can do is talk about targets for 2018, the continuation of a lot of the trends that we've seen this year about earnings growth and how that factors into risk assets. the one thing we haven't been able to put our arms around, is there any major legislation, is there going to be some sort of infrastructure plan after this sort of thing. that would be the sort of thing where they can get some momentum i don't think they're going to get it to your point, if they limped into the finality of this bill,

nobody comes out a real big winner >> if they pass it, no one comes out a winner >> listen, the republicans have a win in 2017. but that's about it. no one's particularly happy about what went on here. >> why are you saying no one's particularly happy investors will be happy, a lot of ceos are happy. i think there's a lot to be happy about for corporate america. >> jamie dimon says it's qe4, if you buy back >> as mike marino and andy wilson and almost paradise, from the soundtrack of footloose, by the way, anyway, we're knocking on heaven's door we're at a place for a lot of corporate america where they are not been if you ask ceos over the last two or thrlehree administration do believe corporate america is doing cartwheels, especially

domestic focus firms who are at 39% effective tax rates, that's a lot of the retailers and staple companies >> we'll hear from companies, as we near closer to an actual tax plan >> isn't that scary? you said when we finally know. >> it's not voted on, but we know it's 21% right now. we don't know enough for corporate america to raise their guidance we heard it from delta today at their investor meeting, they said impact is a buck to a buck 25 >> you can model that. but this is also called a tax cut and jobs plan, okay? there's nothing talking about jobs or anything like hat. >> who needs jobs? the whole country is employed. i know that's a callous thing to say. the fed just upgraded -- >> employed, but no wage growth. >> i don't think that's true if you look at a lot of the

parts of the manufacturing world, which i think we're doing too much trying to support, wages have to go up or companies are going to have to turn down a lot of these projects. i think wages have to go up. >> do you invest with your political views or do you acknowledge the market has some sort of momentum and believes -- >> ooh, called out i don't know, whatever have at it, people have a ball. if you walk away from this scam and you feel good about america, this is an absolute flat-out lie. it's a flat-out lie. it's a wealth transfer to fat cats >> people have said what they believed the impact of tax -- >> i kind of try to find facts and i invest this is a lie. the only thing that's true is they're cutting the corporate tax rate permanently, okay, to 21%. that's the only thing. all the individual rates, they go away in 2024, 2025, that sort

of thing >> if it gets done, really doesn't matter the people who said the fed were lighting a fire under the economy, it was all a ruse the fed has successfully inflated asset prices. they want to get corporations hungrier to reinvest in themselves and in the country. it's about them investing in themselves, let's be clear a lot of these corporations are happy to put their money to work, to take deductions, to be incentivized to put their money to work. >> next, the man who some say moves the markets, from jpmorgan, just released his price target he's gone full bull here let's find out why marko, always great to have you on the show. does 3,000 reflect tax >> yes so our ps forecast is 153. so basically, out of the eps

upside, about a half of the upside is tax and half is top line growth, margin expansion, buyback. we think sort of this reform is very important, it's sort of transformational it's a very large impact sort of on the bottom line we assume the multiple doesn't go much lower. we assume stable multiple. there is obviously some sort of a risk around that assumption. we think sort of the fed isn't going to go too fast, other central banks aren't going to go too fast the multiple stays one to two quarters i would say like we have a rally early on, end of this year, early next year. then we need to watch closely central banks, because basically if they really start tightening, then multiples are in question but assuming current multiple is 3,000. >> so 18 >> yes, basically. >> so you mentioned the second half of the year what we've experienced is very low volatility, just kind of

steady climb, right? in 2018, if we get to 3,000, what's the that ride going to look like? are there going to be opportunities to be buying dips and have big swings here >> i would say in the second half of next year is going to be more bumpier, because if you look at the volatility now, vix was averaged around 11, around 6 or 7, sharp ratio s&p, 2 1/2, it's extraordinary we don't think it's sustainable. we think voluatility will stay low for the next few months. once tax gets inand rotations play out, fed hikes in march, we expect it will start creeping up next year average may be 13, 14 of vix early on in the year it will stay low and start growing higher in the second half you'll see opportunities. >> will we see ramp-up i'm wondering if investors are too lulled to believe it will be lowballed forever. >> correct it's very hard to forecast

average level of volatility. it's really about distribution we're saying that the risk is rising significantly >> which means in plain language >> volatility, there is a potential for volatility to spike significantly. let me explain it a little bit let's say in any given year you have 1% of volatility explodes significant increase may be from 1% to 10%. but 10% may still be unlikely event. this risk is rising. keep that in mind. we think basically in the second quarter investors should start hedging risk, again, not necessarily saying the market is going to crash or something like that but -- >> go ahead ready. >> get ready, yes. >> the markets ramp in the first half of the year, what sectors do you want to be in >> we think sort of basically rotation will be top down, equities, international equities to u.s. equities, from growth into value if you're going to map that into sectors, those will be financials, industrials,

materials, energy, telecoms on the upside small caps over large caps domestic over internationals what you should probably stay away are bond proxies, reits, utilities, staples technology, we're debating, we're underweight technology, our strategist is underweight technology that means it lags the rest of the market, it may actually go up less than these other sectors. >> marko, good to see you, marco kcolonel -- kolanovik >> i try to think, what are the things most likely to make this not happen inflation that i've been expecting for a while that we haven't seen, that the fed needs to tighten quicker always the wild card, north korea. >> black swans kind of thing what did you do today? >> buying some weakness in

material names is what i think is the most interesting to do. because if you think about what marko just said, value over growth this is -- look, valuations for a few of these guys are actually very cheap for a lot of materials and energy names, just because they're beaten up doesn't mean they're cheap. we've had decent quarters and numbers. these guys have better balance sheets, those are things you can buy. >> for me, goldman sachs is another opportunity. we talked about it, the breakout through 255, it's back down to 255. as long as it holds that support, this is when you buy it >> so listen, my view, you know, i put a put spread on here, this stock has rallied 10% since the end of september i have optimism about attacks happening. you guys are right, it's probably going to happen if it doesn't happen in the next couple of weeks, i think you see this stock give back a good portion of that is massively underperformed

the stock was down at the end of november to me, something kind of funky is going on with goldman sachs all year long given the underperformance to me i think you see this back at 240 before you see it at 20 bucks higher coming up, oinbase is at the center of concerns as bitcoin users flock to the app we'll talk about which new currency could be added to the platform disney announcing a deal to buy parts of 21st century stock. karen finerman stepping up to the plate with a brand-new fast pitch the last stock she pitched is up a whopping 15% in the last five months

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it even lets you take a time out. no! no! yes! yes, indeed. amazing speed, coverage and control. all with an xfi gateway. find your awesome, and change the way you wifi. welcome back to "fast money. check out the biotech etf, sinking nearly 2%. names dragging it down, juno therapeutics, sage therapeutics. what should we make of these moves, tim >> if you look at the ibb, you run into a lot of resistance from 106 to 108. you're changing some of those short term directions over the long term stuff. gilead, a lot of these guys have rallied off the ground celgene had a great rally off the bottom celgene, you've got a patent clip hanging over this company, you have a lot of companies with

hangovers whether it's m&a or not. i think it's to buy, the valuations in this sector are very interesting and these guys are growing to fit those valuations >> my concern, though, is what you've expected all year is this m&a that everybody has talked about. we've had some of it but now everything is starting to sell off. i wonder if this is kind of the sell the news event. i personally would be very cautious here. i wouldn't necessarily be shorting it but i would be cautious particularly with xpi, the other biotech etf. >> have you been in biotech recently >> i had a valeant position, got scared out oddly and stupidly i was happy it was down $2 today >> that's not nice >> i know! >> very mean, karen. >> it is mean. it's stupid that i feel that way. >> you seem so nice. >> i am nice, and i feel bad that i feel that way, i can't help it, i'm just expressing it. i'm not long anymore good luck to you >> that was nice

>> it will move without me one stock that's off its low is about to surge higher karen finer machine wiman will e "fast pitch. i'm melissa lee. you're watching cnbc, first in business worldwide here's what else is coming up on "fast." bob iger will be staying around a while after the fox deal plus which new insetocurrency will be coming to we'll ask the new president of the company when "fast money" returns.

we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab.

welcome back to "fast money. the crypto craze is hitting a fever pitch. at the center of it all is coinbase, one of the biggest cryptocurrency exchanges just what is coinbase? bob pisani is at the nyse to break it down. >> reporter: there's lots of

excitement around digital currencies recently. coinbase is in the middle of it all. users can purchase bitcoins, ether, and now litecoin, available on android or iphone or the company's subsidiary. they have 13 million users in 33 companies and are growing. the bitcoin futures story has been a big help, they gained 100,000 new users after the cme announced they would offer bitcoin futures. they raised a total of $217 million since 2012 investors include andriesen horowitz oates 2.5 fee if you're a taker, as well as a wide variety of deposit and withdrawal options and insurance. it's all fully insured, that means if coinbase were to suffer a breach of its online storage,

the insurance policy would pay out to cover customer funds lost as a result. but there's been complaints, most notably about being unable to access money when promised, or difficulties when managing the wallet account, as well as forced account closures. coinbase says they're working to reduce the problems. >> thank you, bob, bob pisani at the nyse let's bring in the president and coo of coinbase himself, asiff hirji, in his first televised interview since taking that role asiff, welcome to "fast money," we're glad to have you >> thank you, melissa, for inviting me to the show. >> let's talk about the astronomical growth in the number of accounts coinbase has. who are these new accounts and what is the average size of these accounts >> so we have been seeing a lot of account growth, as has been reported our trade volumes are up about 30 times over the course of this year and we've had days where we've

opened, you know, tens of thousands of accounts. there were even days when we were the number one app in the app store, which is surprising it's i think consistent with the asset class maturing and becoming more mainstream these are the same types of people that you would imagine would have trading accounts at brokerages and want to invest in cryptocurrency we're delighted that they have chosen to open their accounts at coinbase and have us as their provider >> your background is from retail equity trading platform td ameritrade. do you see an overlap or a competition for these active traders? are these the same guys trading actively on the equities side of the business or is coinbase, cryptocurrency, is that pulling them away from the other trades? >> look, i think it's a bit of both i think there have been a lot of people who have been trading cryptocurrencies for a long time and they wouldn't have been the same people necessarily who were trading equities as the asset class has matured, i think you're seeing people who

add it, like any other asset class, to their portfolio. >> i want to talk to you about things that are coming up, so to speak, asiff we have a lot of twitter followers who are avid cryptocurrency fans out there. they've got two burning questions for you. i'll start with the first one, that is, when are the new coins coming what will they be? do you have targets on when you will have new coins on the platform >> so we have published, i think you had catherine hahn, one of our board members, on the show or on "squawk" earlier, and she may have mentioned, we've got and published a digital asset framework which outlines the criteria we look at for any particular asset before we choose to list it. we take that criteria very seriously. we do everything including a deep engineering survey of the asset. you need to pass those examines before we will even consider listing the asset. now, i can't talk about any asset that we're considering or

even in fact if we are considering any assets, that would be material nonpublic information. but suffice to say we have a framework out there and we have a lot of interest in new assets being put on our platform, a lot of people are campaigning for that but it will be an orderly process by which if you meet the criteria, then there's every indication that you may at some point be listed on our exchange. >> would you expect that at least one more cryptocurrency will be listed by, say, mid-next year >> i can't comment on that there will be a lot of speculation. i think you should expect over time that there will be more and more assets listed >> the second most popular question i'm getting for you is when is a regular is segregateds going to be implemented on coinbase >> we've looked at that, one of the things we're working on. our founder made a comment last week on it we are looking to implement it but cannot commit to a specific

time frame >> hi, sir, it's brian kelly i'm curious on the framework that you have for these currencies, could we look at the ones that you've listed already and would it be safe to assume that anything that kind of looks like that, and what i'm getting at is bitcoin cash, would be ready to be listed on your platform because bitcoin cash is effectively bitcoin. i mean, that in a development way, people in the world will get mad at me if i call it the same thing >> no, i understand. i think at 100,000 feet, that's probably directionally accurate. >> at 100,000 feet it's directionally accurate okay >> yes so the -- i'm sorry. i wasn't trying to be vague. we have listed a series of assets we have an asset framework if you look at the assets listed and you look at the framework, people can for themselves decide which assets are more likely than not to be listed. >> asiff, obviously the bitcoin

futures launch last week was pretty successful. do you guys expect to trade futures, do you expect options when they're listed as cryptocurrencies, as something that you'll have an ability for coinbase users to trade? >> it's a great step in the maturation of the asset class, it's a good thing. in the same way that you have equities or any other asset class, you see the underlying being traded and the advent of futures being traded, you'll have the same thing here i do worry about the design of the futures, both of them that are out there, given the design there's significant problems they may cause i think the risk management tools we have will struggle with the volatility, and especially the settlement mechanisms around both of them personally i think it would have been better to either have built a physically settled future, because that creates more stability and predictability, or a financially settled future

against what is the largest, deepest, most reliable market and market data around, which would be ours. now, having said that, the futures that are out there, both rely on our market data indirectly and directly for some of the settlement. they're doing that without our permission we've gently reminded them of that we're in discussions about how they should obtain permission from us to use our data appropriately. >> should we expect a coin-based ipo anytime soon or for a big exchange to buy you guys it would be a logical facility >> so i can't comment on any m&a, right but i think we would be quite expensive for any exchange to look at. that being said, it is certainly in the interests of our investors, you know, an dreason horowitz and others who invest in this, they look to get a return and i think the most obvious path for coinbase is to go public at some point i think there's a lot for us to do between now and then, whenever that date is. and the number one focus that we

have right now is to continue to deliver on our promise of being the easiest and most trusted service in which to trade these assets >> asiff, do you own any cryptocurrencies, do you trade them, do you get paid in cryptocurrency >> i have the option of being paid in cryptocurrencies i have been a trader of cryptocurrencies for some time i do own cryptocurrencies and have done so prior to taking the role, so i've been a fan >> which one >> so i own both bitcoin, i've owned bitcoin for a long time, and i own ethereum as well >> asiff, a pleasure speaking to you, i hope you come back to "fast money" soon. >> thank you very much, melissa, for having me on the show. >> asiff hirji of coinbase fascinating business >> a business with still a ton of margin in it, and still they are at least one of the easiest ways to get in not so easy to get out, so it seems. the size or amount of transactions, and then put to

work but clearly i think these guys deserve a lot of credit first of all for being the most user friendly and they're criticized actually because support is difficult but they're a victim of their own success, frankly there are so many people logging in on retail basis, that's one of the criticisms they face. >> tim and i often talk about the model of being in the gold rush, selling the levis jeans, selling the pick axes. these guys are right in the heart of it. what an incredible business to be in. >> in terms of the next coin to be listed, i would imagine that would be a huge trade. once you put a coin up there and you get all those accounts trading that coin, that's huge >> that's very big, that's why i asked the question everybody wants to know that >> did you come away thinking it was going to be bitcoin cash >> more than at the beginning of the show, after that question. again, it could be another fork for bitcoin, it could be something like z cash which is a fork of bitcoin.

that's also what everybody kind of wants to know in the community. so maybe i did a community service. >> as cryptocurrencies get more and more popular, we couldn't help but notice a lot of these coins have exotic sounding names, in fact they sound like names you would give a wildcat at a zoo, for instance it's time to play cryptocurrency or cat okay we will read out a name and the traders will see if they can get whether it belongs to a real cryptocurrency or a wildcat. you'll be shocked. komodo, cryptocurrency or cat? >> it's a dragon that is absolutely feline. i'm not falling for this that's a cat >> it's a cryptocurrency >> right >> cryptocurrency komodo next, kitai? >> can you use it in a sentence?

i'm not familiar with that one but i'll go with cryptocurrency. >> wrong it's a snow leopard cub born in june bk doesn't play. you do not get to play >> the jedi master >> drogon, crypto or cat >> definitely cat. >> definitely cat. the name of one of the blackfooted cats at the philadelphia zoo this is a tricky one pura >> got to be crypto to even the score. >> it's a crypto >> thank you >> redemption at the end >> i guarantee you there is a developer out there creating drogon coin or whatever it was and kitai coin guarantee those will be out tomorrow morning still ahead, check out oracle, tanking after hours, the

stock is down nearly 7%. we'll tell what you has investors hitting the sell button plus karen has had the hot hand, knocking pitch after pitch out of the park. this screaming buy is up 40% off its lows less than two months ago. she'll deliver her fast pitch. take a deeeep breath in... and... exhale... aflac! and a gentle wave-like motion... liberate your spine... aflac! and reach, toes blossoming...

not that great at yoga ya but when i slipped a disc, he paid my claim in just one day. so he had your back? yup in just one day, we process, approve and pay. one day pay. only from aflac right in the heart of the was in his financial crisis, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor.

welcome back to "fast money. time for our favorite game, the fast pitch karen is standing at the plasma to pitch the one name she's calling a screaming buy right now. karen, go ahead.

>> yes, normally i love fundamentals if you look on a trailing 12-month, you won't see it here. but we're at an inflection point. i love catalysts the name is golar. what's happening here that's causing now to be a good time to buy it they pulled off a massive ship, an enormous ship that does floating liquefied natural gas this is a multiyear project just to build it, and now it is delivered. it came in under budget, on time, and we're going to see this start to make money early in the first quarter of 2018 this was a tremendous technological feat and they got it on time, under budget we'll see that ship, that's very important. the next thing that's really important is, while they do these big projects, they also have a lot of exposure to lng carriers and day rates have skyrocketed in the fourth quarter. earlier this year they were below 20,000

now we're looking at north of $70,000 a day for day rates. when you see those enormous moves in day rates, it almost all falls to the bottom line the third thing is another big catalyst, financing for their next flmg, the fortuna i think they're very close to getting that, probably won't happen by the end of this year, but very early next year and when they get financing for that, that is another tremendously ebitda generative probably they've got two of them. then they've got more projects in the pipeline. but those are the most advanced. the last thing is the stock. so this is the top for oil, it traded down with oil, it shouldn't have, it's not so much of an oil story. so much progress has been made, and we are at an inflection point with catalyst, great management team. it's a big position for me golar. >> karen, it's tim one of the big issues for the entire lng space has been in terms of the fleet, has been the number of fleets and the supply

of this enormous amount of tankers that get built up. how do you feel about this we've been here before, in a different place than the past, that's a big risk always >> tankers, it is a cyclical business right now they're in a really good part of the business. we've seen the fleet growing at a much slower rate we'll see older ships taken out of service the main driver of this story is the two enormous projects, and further down the pipeline, about the healey right here, right now, and the fortuna close as well those will be the main drivers of value those are not cyclical, those are a different kind of business, multi, multiyear contracts. >> all right let's vote what do you say, dan nathan? >> i think you buy it, a great take, high short interest. this thing gets to 30, it's off to the races >> bk? >> you look at the chart, it's a buy as well. the longer the base, the higher the space. that's what i think we're looking at here. >> for the clean sweep the reason the base is now

inflicting, as karen pointed to, lng spot charter rates are very high if they hold these levels, the stock is absolutely a buy. >> the stock in the after hours session is spiking, 6% buys here on the desk all around head to twitter right no now @cnbcfastmoney plus bob iger announced a deal to buy fox's assets will his $50 billion deal pay off for investors? much more "fast money" still ead.

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i love my job. i love the company that i have a had opportunity to run for 12 years. i've believed strongly in this combination and knew that if we pursued it, that it would require me staying longer. and i thought that was the right thing to do, both for me personally but also for the shareholders of the walt disney company. this is going to take a lot of energy and a lot of focus. and i look forward to rolling up my sleeves and getting involved over the next few years and putting together a company that i think will be both compelling to shareholders but also great for consumers around the world >> that was disney ceo bob iger on cnbc's "squawk on the street" this morning, sounding like the happiest man on earth. does disney have a friend in iger forever shareholders should hope so. disney stock has soared more than 350% under iger but it that pales in comparison

to his predecessor, michael eisner, who saw returns north of 1700%. how along will he stay at the mouse house and what does this mean for the stock price let's bring in "new york times" columnist jim stewart. always great to have you here on "fast money. >> good to be here >> would you be more excited as a shareholder about the prospects of iger staying or a deal at this point >> it's worth pointing out almost all of eisner's 1700% gain was in the first ten years, not the second ten so iger is at the 12-year mark, he's done really well. >> he's made the turn here >> we're talking about inflection points. but no, iger has done a great job. there's a big challenge here i didn't believe he really wanted to retire or would, even though he was saying he would. he's got a big project in front of him he's really built the company. this is a massive deal

they are really doubling down on this over the top, they're going into the distribution market they'll be vertically integrated the ceo of disney in the future can't just be the creative content genius that walt disney was, that eisner thought he was. you need somebody who knows distribution, can be an operator, and is as comfortable in silicon valley as in hollywood. that's a tall order. can iger step into that role we'll see. he's done a fabulous job and i think strategically this makes a lot of sense >> it makes a lot of sense if you have a longer term horizon >> absolutely. >> in the short term, aren't you competing against the likes of a netflix, a google, an amazon, an apple, who are willing to make low or no margins on this business and why as a shareholder do you want disney to throw themselves into that sphere of competition? >> that's an absolutely good question i think near term, and i mean like three, four years out here, i would be very cautious about the stock. there's going to be a j curve here

there's going to be a lot of investment, not a lot of return right away as you point out, you're heading into the most cutthroat, deep-pocketed competitors in the country. and they've got a lot of stuff going for them amazon, netflix, they already have big subscriber bases locked in there disney has yet to prove, even with all this content, that they can establish a similar volume i think they probably can. but the margins are the no going to be fat for a long time. >> the other piece of this is that for a very long time, espn had been disney's problem. investors were solely focused on the decline in subscribers and cord cutting with the regional sports networks, the rsns, does that solve that problem does it just amplify or give them a bigger presence in the space that's on the decline? >> i don't think it solves the cables problem i think espn is a big problem. iger has done a good job of changing the subject and trying to get a netflix multiple. but it's been flat to declining. it will be interesting to see

what happens there adding more cable channels doesn't help with that it may help with the over the top product. again, you get local monopolies of these sports franchises, people are going to be willing to pay maybe quite a bit to get that directly. i think it's part of the over the top bet. clearly a big part of their strategy here is to beef up the content offering so that you have must-have content that subscribers will go over the top and pay for. from an antitrust perspective, the sports programs are the biggest problem. i'm writing this week about the antitrust stuff. the trump administration, they're best friends of murdoch. this probably will sale through, but the sports thing is a problem. >> jim, great to have you with us, jim stewart with "the new york times." tim? >> jim talked about multiple if these guys get anything out of that, that netflix or halo

effect, getting back to their own multiple, you stay in disney i think a little buy >> i would talk very short term as a trader here against 112, i would probably be taking profits. if you like it, then look to get back in at 104 it seems to be in this range, 112 seems to be the resistance >> jim mentioned the ceo of this company has to be as comfortable in silicon valley as in hollywood. cheryl sanders is on that board, jack dorsey is on that board we have to see what the next act looks like we were all speculating, remember when tom staggs, the coo, resigned a year and a half ago? wouldn't sheryl sandberg be a fabulous ceo for a company like that they're going to have to pull in somebody big, right, to kind of -- >> well, not until 2020. >> still ahead, check out shares of golar, karen's fast pitch,

they're searching. plus oracle's conference call just wrapping, we'll tell what you the "c" suite had to say. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember.

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oracle conference call without larry ellison going after the competition. here he is taking on amazon. >> we're so confident of our cost advantages over amazon that oracle will provide our customers with written service level agreements and guarantee, that guarantee moving to the oracle cloud will cut amazon's customers' database bills in half or substantially more than in half. >> reporter: you can see, melissa, investors not feeling as confident there in the after hours, at least initially here we're down 4%. we took a leg lower on this guide. katz giving a total revenue, 2 to 4%, total cloud revenue of 21 to 25% if you looked at the cloud business in the quarter, 1.1 billion was in line, platform is a service, infrastructure is a service, they combined those

now, bottom line, total cloud revenue clocked in at 1.5 billion. the street was at 1.56 billion we'll have more to talk about tomorrow with the oracle ceo and get his take on this quarter, live and exclusive tomorrow on "squawk alley. >> we look forward to that, thanks, josh lipton in san francisco. is this an oracle problem, is this a san francisco problem >> margin pressure, were they losing share, i don't know i get a kick off larry ellison, though >> do you want your company going against amazon in a price war? i wouldn't, right? amazon is willing to lose money. so i'm not sure -- to me that's -- >> and that's fair, totally fair i think the business is more important for him, the stock had a big move pulled back, 45 on the charts, an important level on the stock. if anything, you buy the weakness >> i think we see weakness a lot in oracle.

shares of twitter jumping more than 4% today, hitting its highest level in a year. one trader is betting on more gains ahead. dan? >> the high of the year, which we have not been able to say a whole heck of a lot over the lax few years in twitter, up substantially on the year, up 30%. options volume is three times average daily. and calls were outnumbering puts four to one. there was a lot of activity in the december end of march 22 call strikes the march is more interesting because it's longer dated. the largest trade of the day was 4,000 of the march 22 calls bought for $2.35 those break even on march expiration on 4435 from the trading level here, if you look at the a five-year chart, i think we have one here, the thing has obviously been in the hurt locker for a couple of years. still some pretty decent short interest, some m&a spec. i don't know if you guys have seen the new twitter threads,

jack seems focused on product here to me, the story feels like it's taken a turn >> 20% this year >> first of all, i think the comps get a lot easier for these guys the rationalization is getting there. but also they've done some good, interesting video deals. i think the company certainly has seen their worst days. >> for more "options action," check out the full show, tomorrow 5:30 p.m. eastern time. coming up, are you buying karen's pitch for golar? that stock is surging in the after hours section. head to twitter ghnorit w and vote @cnbcfastmoney. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation?

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welcome back is america buying karen's by which for golar? let's put it this way. nobody puts the chairwoman in the corner nearly 60% said yes. and the stock, by the way, is up 6% in the after hours session. >> there it is >> confetti and everything >> exactly >> appreciate that >> time for the final trade, tim. >> remember this today, twitter, we just talked about it. stay long. >> karen >> my final pitch. one thing dan said, the short interest comes from the convert. as the stock trades up, people need to hedge with short stocks. >> bk. >> the 40% that voted against karen, i don't want to be friends with you but i like iwm on the selloff today. >> goldman today, i know bk likes it, but you're playing

with all that bitcoin money anyway i think goldman made a big double top there 245. >> i'm melissa lee thanks so much for watching. see you back here tomorrow at 5:00 for more "fast money. don't go anywhere, "mad money" with where i can starts right now. 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 money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. we always say you should buy stocks into weakness when you