when you put enough distance between the lows and new trend but i do think the processes play you will out over weeks and months typically. >> do does the vix have to get back down. >> it would have to go get down say we're on a glide path that is more comfortable. >> that does it for "closing bell" today. "fast money" begins right now. we have the big aluminum companies in the united states and they have been very unfairly treated by bad policy. by bad trade deals by other countries they have been horribly treated by other countries and they have not been properly represented. so we're going to build our steel industry back, and we're going to build our aluminum industry back. ♪ >> all right those were the words that took down the market today. the dow sinking more than 400 points at one point it was down nearly 600 at the lows. the dow now negative on the

year the s&p and nasdaq also closesed lower by more than 1%. the ftd's words put the fear in hearts that a trade war could be coming maybe it is already here and all within turmoil within the administrationist. has president trump gone from being a market's best friend to its biggest risk >> you know, it is interesting it is easy to blame the president for this i'm not going to play politics but he's doing everything he said he was going to do 18 months so if you are surprised you have been living under a rock splr. so yankee this is entirely his fault. and this started a week and a half two weeks ago by the way. i think it's got a lot to got the fed. a lot to dot with the market and a lot we merging markets and markets overseas that are sort of turning over to the wrong side yeah it is easy to blame him trade wars, i get it that added fuel. but this is going on long before he opened his mouth today. >> if you give him credit when the market goes straight up then maybe he gets some of the blame when it goes down, particularly as a policy comes out.

at least an announcement of an expected policy change that's controversial >> yeah, i think let's just talk about this last two months up until late january you know, that was a referendum on the -- you know, if that was a report card as they were calling it then it looked shiny on the january 26th end of the day obviously a lot of that had to do with their tax plan that was put in place in late december. so when you think about tariffs they are actually going to counterbalance a lot of the potential benefit for u.s. corporations that were actually getting the lion's share oaf that the tax cut so it has the potential to cancel out and so we're not going know the effect of any tariffs any time soon but the trade wars what does it marine for companies like apple who make 200 million iphones a year it could really compress margins for companies like that. >> means a lot and if you think ant the market right now. there is a lot of other dynamics here i think are also imposed by

washington even though behind this is a lot of great news on a corporate tax cut etc. as we said one of the dynamics giving the market agita is too much going on in economic stimulus on a time when the market was getting going on its own. now layer this on top. look at that bond market we were concerned about too much growth and now we're concerned about too much growth causing a reaction to too much growth. and bonds, if you look at the yield curve is starting to flatten. washington can't get out of its own way. even though we've been set up for corporate profits in the country that are going to be extraordinary in 2018. better be because these guys are going tax rates low 20%. >> jay powell on the hill today in front of the senate o sounded a little more dovish on inflation and where wages may be going. is the biggest issue the market has to deal with today i karen, what's coming out of washington, what some people describe as chaos. you have people leaving.

now new reports of maybe general mcmaster leaving >> i don't think that's what it is this is an administration that's been in chaos since the first week immigration been a out of nowhere in a chaotic way and ever since it's been the same m.o. the entire time yesterday a little of the selloff at the end of the day i think was. but by this morning wasn't relevant. >> -- on the floor today talking about the sort of haphazard nature at which this whole thing happened today. >> yes >> there is going to be an announcement there's no announcement. a meeting, no meeting. >> i agree and this wasn't the cause. this was the cause powell, that was irrelevant by the time this came out of trump's mouth. >> -- rallying when powell -- >> this is a absolutely to blame. i think though i'm not sure that what he said will actually translate into actual policy. remember going back to the approximate border adjustment tax, a very similar kind of tax as this.

right? taxing taxing imports that was quick blown up. that would have been been a disaster for the consumer and i think you are seeing that kind of response to this. so i would be surprised if this policy that he put forth today actually ends you will being what comes out >> you are suggest what others have too, as to whether today was a trial balloon that got popped by mr. and mrs. market. and some within the president's own part. >> larry kudlow is one of the staunchest supporters and came out steadfast against it obviously today e's selloff had everything to do with the comments but this isn't selling off after all time highs this is after market turbulence that we've seen. the seeds have been sohn i think for this move. the president's comments fuelled the fire >> if the market wasn't doing what it is doing we'd not have had this reaction. monday night is everything -- >> my favorite band is steve

leishman the band he plays in that's my favorite. >> friday night at bb king's by the way our man is playing bottom line, we have a dynamic, if you didn't know better on monday night you heard this tuesday morning, market is not down 130 bips. it is just not. >> we're a net importer of steel. a net user rather than a producer of some of these things throw up the autos throw up the industrials the areas that got hardest hit are the ones that are speaking out tonight in large part against the policy do you need to rethink some of the sectors. >> i own u.s.steel not because i was expecting article 232 to get employed and then i was going to see these tariffs i was betting because 800 bucks a ton in hot rolled steel is actually very profitable specialty product, as a time when the economy is growing and

yeah we might get infrastructure either way if you looks at the places the steel companies make their money, things are very strong right now you did not need this at a time when the market overall a lot of anxiety. >> cut the corporate rate and then another boost with tariffs on top of it >> right i just want to make one point. i brought up apple when you think about their ability to repatriate -- and then a corporate tax rate of 21% from here on out whatever adverse effect they might have in a trade war would not be significant for some time to come. so to me i think a lot gets netted out the autos, gm down almost 5% lebeau had the executive from gm who sources the steel. we source 90% from america so why is the stock down 5%? so this could present near term opportunities for a stock like gm >> steel price, which we have and which we might get are going to hurt the auto companies

these are price inputs >> why the stocks are down maybe to karen's point, maybe these are buying opportunities because maybe it isn't going to happen to the magnitude we think it will. a lot could happen between this week and next when the president said he's going make the announcement. >> this is something he talked about when he was campaigning for president. to walk away after the poor market reaction in my opinion would be bad form. >> more on what it means for the economy and possibly the fed let's bring in senior economics reporter steve leisman so you give the economy a case of red bull. do you need a mountain dew on top of that too? >> no. this is the opposite of red bull this is like. >> dead bull. >> how about -- >> it is like a laxative, if you really want to know. >> you -- should have said it better. >> three words technical terms from economists.

"bad, stupid, and dangerous. this is seen as one of the worst possible policies that any president could ever enact and i have a chart scott to show you how stupid the market thinks this is. okay i want to show you the market cap pain in steel stocks today -- gain in steel stocks today. 2.3 billion up in steel stocks 328 billion down in the s&p. that is the metaphor for the whole policy a very small group of company wills benefit at the expense of all other companies and workers around the country and one economist says this is a clear and present danger to what is now the third and en route to the second longest expansion if you think about this. economics doesn't know much for sure but we have known for 300 years that free trade is good for an economy. and that protectionism is bad

for an economy this is the equivalent, and i hate to use another bad metaphor here medically going back to leeching and bleeding as a way to solve we figured that is wrong it doesn't help. this is the same thing. >> we've got laxatives and leeching. >> the leeching part, i got to rethink on >> the administration coming in. okay one of the risks that was thrown about. and we all discussed it and guess guests came on and discussed it too was whether we were going to have a protectionist president people say okay are we going to have a trade war the first shots of a trade war have already been shot with the washing machine thing. this is a bazooka being brought to the trade war you want to start going there on steel? how much of a risk is that >> i don't disagree with anything anybody is saying but once again. >> can i just tell you -- is already saying they will have retaliatory measures i just got the statement from canada on this. >> of course they are. >> and what does --

>> number one exporter into our country. >> what if china retaliates by not buying our treasuries in the magnitude which they do? >> i don't think they can to that. >> what if they do in it in other ways. >> okay we talked about china buying our treasuries before and how this is going back the treasury market. they are not in position to change that overnight. by the way i think targeting china on this is absurd because they are not even in the top 10 exporters into our country in steel. >> canada is number one i think. >> it is our neighbors around us it is brazil these are places that if anything i think bilaterally there are ways to get around this without some blanket. you know, you can go after the subsectors and not have to make this blanket statement it is politics. >> i think it is really worth taking karen's point to heart. we don't truly know if this is going to be the policy in place next week. >> our boss thinks 500 more points on the dow will get rid of it. and we know the president is very sensitive to stocks

we know the market and the gains of the market he sees as a major part of his accomplishments out there. >> but steve, why do it in the way he did he went out and he was very explicit about it. it is more than a trial balloon. >> i have an answer. i'll tell you the answer what did he do yesterday he announced his candidacy for the 2020 election earlier than any other president in history this is about securing republican strongholds in states that were previously democratic. this is about getting the rust belt firmly into the republican column i think it is purely politics. what's amazing is the huge number of people from his party. ryan, hatch. >> kudlow. larry has a line into the president. and was as boisterous as you could ever hear larry against the policy of the president's on our air today. >> the business round table picked up the tax cuts, put it over its shoulder and dragged it across the finish line for the president and they came out with

one of the strongest anti-trump statements i've seen yet one of the strongest anti-presidential policies i i've seen yet. >> member of the a band. >> bob and fill aftershow at bb kings. and i don't like the tariff thing. is that clear? >> we got that. >> steve thanks. >> so market's down what 500-some odd points today. who bought what? >> we were talk about some of the retailers that got hit walmart. i got stopped out at 90. some are going further than i thought they would i took a shot on the shortside of the ibm i think it has potential to catch up to the weakness in the dow too. >> you don't think that small caps r get the benefit of the some of the pain of these bigger can companies because of -- >> they get choked by growth small companies have

underperformed the last couple of weeks as the market's been pulling up. >> -- relative to the rest of the market. >> russell down 30 basis points. >> i agree exactly what tim said. >> let's call the russell, that's not much of a loss compared to 420 point ro drop on the ow. >> everything we just said here tonight means that this is a growth-negative policy and small caps which have been the greatest beneficiary of the groult concept have outperformed until the last couple of weeks when we've been challenging growth and it gets back to me, this isn't just about trade tax this is about parts of the market the market is now paying attention to it is about rigs about the fed. about insanity in washington about indictments. about trade policies and it is about valuations so getting to a place where suddenly everything is not so wonderful and it means that probably not a lot of people want to put new money -- >> you add all that up and what does that equal?

a lot of volatility. >> i bought some of the ad commodities. and if anything maybe the trade dynamics help them names are slagged the rally but i could continue to watch a couple of bellwethers. the glen corps these are very important >> coming up nordstrom sinking. gap soaring. plus is a trade war between the u.s. and china heats up. guy has one stock he thinks is going the big winner in all of it here to tell us what it is and guess what was rallying? bitcoin. and there are a couple of events bk says could take it even higher at fidelity, trades are now just $4.95.

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welcome back too "fast money. i have a double dose of retail earnings tonight nordstrom and gap heading in opposition directions.

more on both here is kate. >> we're going kick off the nordstrom and miss opd earnings but beat on revenues mixed guidance for 2018. predicting comps will be up between .5% and 1.5% they wouldn't go into comments on the company trying to take itself private take a listen. >> customers spend nearly 70% more when shopping us through multiple touch points. in our nordstrom business we made meaningful progress in meeting customer's expectations around speed, convenience and personalization. we offer a number of ways to serve them on their terms. seamlessly across stores and online our services such as buy online, pick up in store reserve online and style board

grew more than 30% over last year. >> of note the stock's been down around 4% in afterhours but for the year's shares increased 6.5% gap, moving higher nearly 9% on better sales in the fourth quarter. and 2018 outlook for the holiday quarter beat expectations. they were up 5%. all their divisions outlet performed in 2017 compared to street estimates old navy up 9% gap increased the dividend nearly 5%. for. >> what do we do with these names? >> i kind degree of freedom nothing with either name nordstrom, expectations were high the outlook disappointing. and you have in there not just high expectations for the business but high expectations for the stock because potential takeover so it is a little more expensive. they do have some -- not a problem in any way the balance sheet is great but a little more expensive. i think it is okay

gap, that's good it is good too see good signs of a turnaround the stock is not particularly expensive. it is not crazy cheap either, particularly up 8 or 9% today. that one also kind of do nothing. >> is retail back? macy's, gap? there are some good stories to tell here. >> the one thing i did in today foot locker one by two call spread for tomorrow, earnings. >> -- >> preview, 5:30 show. >> if you think about the numbers mays macy's put it and the fourth quarter in other words strom up 40% from november 1 their fourth quarter was significa significantly weaker than a kohls. macy's were better and i think there are more catalyst in other plays. i i will say those playing nordstroms for a private takeout is the wrong reason to own this company. >> haven't they dispel they had a couple of o times?

>> i don't know but every time the news comes out the stork is sold out. >> up 40% last two moonts and end of the day you have a situation where there is a lot of positive expectations built into it. especially on a week you just had macy's up 50% after their own results and i just think the motion important thing i you can think about in retail here two of the biggest ones. walmart and allows lowest >> still ahead despite the selloff there is one stock soaring 10% today. guy adami says this is just the beginning of a major run that guy right there the one waving he'll tell you do name in the meantime here is what what else is coming up on fast >> nobody this is, this as raid. >> the government is cracking down on bitcoin but to bk, uncle sam is missing something big he'll explain what that is plus as the market continues the sell off so called safety stocks are

getting slaughtered. so where do you hide now the traders will tell you when "fast money" returns

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called "safety stocks" were anything but hey bob. >> hello global industrial stocks got hit hard in terms of the possible trade war. that's understandable. you might think that would help more names like the consumer stocks they weren't down as much but no one out buying in big numbers other. they got no lift from the trade scare. nightly did big healthcare like johnson and johnson or abbot or pfizer bond yeeds declined. typically that would help sensitive group but that wasn't the case today once again. real estate investment trusts the worst performing sector in the s&p this year. down nearly 20% 2018 didn't help either they couldn't get into the green. but the volume was very light in

all of the reits today despite the chaos in early february, traders have stuck with cyclical names all year on the global economic expansion story. now safety stocks like reits and telecoms and utilities have been clobbered by rate concerns obviously. but consumer staples have also been hit separately as the value of consumer brands has declined under assault by adams amazon a others hershey, heinz, procter & gamble are within a point of 52 weeknight lows clorox even about 4% off its 52 week lows. the bottom line is hiding out in defensive stocks has not proven a good strategy so far >> everything is going to be down for the most part. >> in the last month a reassessment of where valuation could be for a lot of of lot of

companies that got the benefit of the lower interest rates. consumer staples so much competition and very little pricing power by all of these names. you look at the clorox i think somewhere around $120. this is a very interesting stock again. and i think what happens is there is a price to be paid for these stocks and when they get oversold you have to know where you want to come in and buy them that is good level on this name. >> hard to hide out anywhere look at procter & gamble i'm not picking a fight by any sanfrec stretch. >> let me get him on the phone. >> give him a call he's probably playing hockey or any rate the stock was either soids of 90 bucks. take a look now. and never got much higher than 93 however if you think mr. peltz is going to start to get vocal again and vociferous in his procter & gamble stake and his views. then at 78 bucks procter & gamble might make sense. >> you just talked about

valuation and the rates going up we talked this with utilities, we talked with staples these things low growth names, obviously pretty decent yields are trading 22, 23 times that sort of thing and really high historical evaluation. so to me, you know, if there is going to be a greater emphasis on picking stocks and sectors i think relative value is going to become real important. so to me some of these may look good now because they have had 10, 15% drops. but i think it is really important to remember that, you know, trading above a market multiple is trading above a market multiple. >> especially with the vix at 22 and i know it isn't going to stay here forever but the vix isn't going to be spending time stuck at 10 for the next six months and you have to value equities differently and i've been saying this for a long time. i really don't think people unts that it is about risk and it is about standard deviations. that is how you value stocks and i think especially with staples names which are suppose to be conservative even worse. >> you are the valued investor

on the desk. >> the volatility between 22 and 10 that's enormous move i think we dmet half way back. but to me if you don't sell you are basically buying it back you know today is going to be awful day for you. one exception. i like what i own. i like google. got just absolutely obliterated today. i like the banks i'm sticking with them you know i'm okay with a little out volatility >> one trader just cashed in on a group of safety stocks what did you see today. >> >> xlu we were just talk about valuation. >> tune in tomorrow 5:30. >> xlu down 15% from all time highs in november. down 7% on the year. activity was 4 times that of calls today and looked to be a trader moving out of sell to close some of the march 49 puts. that one the stock was trading around 49 bucks. about 28,000 that were sold for about 90 cents and what's really

interesting when looking if thr thing. valuation support. got a lot more now than a couple of monthing ago. and also the five year chart if you back out to 10 years it is still on the same up trend this trader may be viewing the fact that aa, they own the puts b against the xlu. maybe they look for a bounce off the up trend looks like a decent level if you are looking to hide out and by something that's been hit hard. >> don't forget check out the full show, options action. 5:30 p.m. tomorrow don't miss it. still ahead tonight right here it is the new because word in bit coin that everyone in krypto is talking about and could have be big implications for the space details coming up. and one stock soaring above 10% today amid all the turmoil and guy adami says it is about to break it even higher he's going to give us the name when he lirsdeve his fast pitch. more "fast money" straight ahead. oh, and there's the closing bell.

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with pg&e in the sierras. and i'm an arborist since the onset of the drought, more than 129 million trees have died in california. pg&e prunes and removes over a million trees every year to ensure that hazardous trees can't impact power lines. and since the onset of the drought we've doubled our efforts. i grew up in the forests out in this area and honestly it's heartbreaking to see all these trees dying. what guides me is ensuring that the public is going to be safer and that these forests can be sustained and enjoyed by the community in the future. welcome back to "fast money. breaking news from alcoa right back to kate rogers in the news room. >> this is in response to the tariffs today from the white

house. alcoa spokesperson telling cnbc we appreciate the attention the administration has placed on the aluminum industry. we believe vital trading partners, including canada should be exempt from any tariff on aluminum. the industry hasn't limited supply chain and action should not penalize those who abide by the rules. we'll continue to work on solutions that create a level playing field and address chinese overcapacity so alcoa pushing back on the tariffs like many other companies we've receiver today >> kate rogers back at our headquarters >> aluminum and steel are very different. a and. ultimately i think alcoa is something happened when they split up the company and the one that seemed to be less value became more valuable alcoa up 110% in the last two years during the time they spun off their specialty metals division which is doing very well listen to what the companies are saying about today's announcement not very happy and ultimately

have to protect their trading partners who are very instrument toll their business. >> now to bitcoin, soaring despite a move that could create trouble for the space down the road regulators have issued subpoenas for a number of initial coin offerings looking into the potential fraudulent activities. the investigation underscoring fears of a broader crack down if that space now icos were the hot new jam in crypto last year but there is a new because word making the rounds in the bitcoin university air drops. so what is that? for more we need to to bring in our bitcoin baller brian christopher kelly. otherwise known as bk. three names because he has a pocket square. >> thanks for having me scott. i love you every day the as lot of fun. let me talk you about the new wordage. "air drop. what is it we're going talk air drop versus an ico basically an air drop is like

getting a free sample in the mail you own a certain token. all of a sudden you wake up because of owning it you get another token. so it is an add on token in an ico you get entirely new token and you are buying that token. here in the air drop we get it for free in the ico you have to pay for it air drop is similar to a dividend you already sewn a stock you are getting a little more. already own a currency in this case you get another currency. it is like the dividend. ico is actually you are making an investment. so you are putting up money. it is a new position for you that's what an ico is. so let's take a look how this works. there is one coming up and this is the next big one this is happening march 5th. ethereum classic symbols etc and calisto. that is the air drop so if you own etc on march 5th and it will happen some time on march 5th.

it is based on when the blocks update but for every etc you own officer going to get one clo which is catalysis toe it is a new block chain they are going to do some testing and try to upgrade ethereum classic. but it could have value if it gets on exchange and that is why people like it so les look at what's happening with the ethereum classic price. it's been a bit of an up trend here and this is everybody buying into the ethereum classic to get the calisto air drop so hear you own ten of those, you are going to get ten clo on martha fif march 5th. and that is the now hot thing. >> dividend, some like to invest it and put it right back into the stock. what are you going to got the air drops? are you going to put it back into the cash? into the original? do you hold on to them is there a unique value to this that you want to hold on it to >> there is actually a value and it is another coin it is almost like getting a stock dividend or a spinoff in

another company type of thing. so you might own ibm and they spin something off as a special dividend you get that so it is not like you get u.s. dollars you could reinvest back in and some air drop, the better ones, the ones that are real projects actually do have value and begin trading on exchanges. >> you didn't like the bck thing? >> i liked it. no it was very smart of you. >> you like it >> just like my suit. >> is that a suit? do they make that for men? >> it's onesie >> all right bck we'll see you soon. >> thanks scott. >> you in options tomorrow night? >> no. >> i was going to promo the show again. still ahead the billionaire battle between ackman and icahn over herbalife it's over. icahn taking a the victory lap earlier today after ackman told

he he threw in the towel on the bet. plus guy stepping up to the plate. one stock he's calling a home run for investors. and get this it was up more than 10% today. he'll give us the name right after this pitch you might take something for your heart... or joints. but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember. today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. and there's never been an easier way to get great advice. a place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. a place for mom. you know your family we know senior living. together we'll make the right choice.

welcome back to "fast money. time for annen instant replay. back in september guy stepped up to the plate to pitch scientific take a listen. >> in you believe in the science between the immune therapy therapies, you have to like tmo. why? they make all the instruments that support it. >> great call guy. >> oh stop you are so insincere but go ahead. >> well, since that call it's rallied 8% whopping 8% -- >> i think it was trading about 190 or so. look at in it earnings. >> liked it for a year. >> amount a month ago reported earnings $225 stock that was a significant move, scott. evenky do that math. obviously the softening in the

stock has been commensurate with the rest of the market all the reasons i liked it then exist now. despite the selloffs in the markets that we find ourselves in turmoil i think tmo is still a decent play. >> all right guy. >> well said. >> thank you tim >> you gotted it >> thins thermo fisher was such a home run for you >> oh my god ♪ just stop. you can stop right now i mean, such a home run for you, guy. what will you pitch us now thanks for asking me, scott. i appreciated it and my power pitch for you now is the following or the fast pitch we call it now. you are going to say guy this had a tremendous move today. and i'm going say you are right skothd but my pitch is roll it. cleveland clips. why? with the president's comments today, you have a significant tail wind for the steel. not even cleveland clip bus the

entire sector. you have had tail wind farce while now. competitive valuation. you are not necessarily buying the companies on valuation and sometimes a fool's folly you could have gotten obliterated in the u.s. steel if you o bought it on valuation a year a and a half ago. but at this level it is too competitive to ignore. and this is a high short interest what does that mean? i don't think president trump is going to back down from the tariff thing for a time o. which means the shorts in the sector have forced to cover the stock close at $7.75 think i credit suisse just put a $9 price target. i think it can go higher than that >> after that tremendous bullish pick we just talked about. i agree with the story quite a bit. and i think for me it is a lot about china taking dirty supply off, adding to demand in the underlying -- market is that a driver for you

>> you would think it would be a huge driver. i think you are going start to see analysts need to raise pric targets in the entire stays. u.s. steel had ridiculous movement cloelszed at 47 cleveland cliffs has not seen a move of that magnitude. i think now the entire sector is getting dragged up and i pick cleveland cliffs because it has a short interest that is going to force these guys and gals to cover there is your chart by a way beautiful shart. >> no more questions time to vote are you buying guy's cleveland cliff pitch? >> absolutely. and if you will notice that is a baseball and a home run with cliffs in the center long the name. love the pick. do think they are rallying back. a volatile stop. not for the weak stomach >> karen. >> also a buy. what i like is a little different. not so much the tariff trade which is obviously in there

today. the whole growth story, i like it. >> i would buy it too. i'm not long like these guys but i would say this i use a $7 stock that is back to where the stock started today. last year they had sales up 10% and earnings up 135%that sort of thing right now analysts are only expecting 1% sales increase and 20% eps increase year over year. the guy's valuation story. if you have this company given the leverage it has you could see easily an earns upgrade. so pretty cheap. >> translator: stocks up 3% after hours. >> i'm in. >> on a adami push >> of course what >> i wouldn't fade you map man. >> you just said it always go with your first instincts folks. >> we did say buys all the way around stocks up more than 4% now did guy's pitch for clf make you

want to own the stock? we'll reveal the results after this break plus american outdoor sales tanking in the postmarket. company saying gun sales fell more than 30% year over year much more on that story. you are watching "fast money" live at the nasdaq market site in new york stock exchancity's conveyor much more fast after this. sines, doing more with systems you have in place. it can bring all your apps to life and run them within your data center. it is... the new ibm cloud private. the cloud that's designed for your data. ai ready. secure to the core. the ibm cloud is the cloud for smarter business.

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welcome back we have a news alert this evening on blackstone. back to kate rogers and more details. >> steve schwartzman the co-found ore it have blackstone group made close to to $787 million last year. this is close according to numbers we -- paid out in dividends from partnership units. fueled a lot of the payout 125.5 million was in total compensation bring ugh to 786.5 million total take home from blackstone for 2017 for suarezman. 2015 mud in 811 million or so for reuters. -- for last year up about 24%.

back you do. >> can't trade that one. i was thinking same thing. >> as we often talk about is to bes amongst us guy wuss taas talking about -- >> power pitch. >> but the story on blackstone this is an environment seeing a lot of exits in terms of the private equity compression on fees but these guys are in the right places at the right time it is still a great environment for them. >> let's switch gears. american outdoor brands. formally smith and wesson. >> we're talking about american outdoor brands no at very big company obviously because the gun debate, the gun discussion has been very much in focus as well. american outdoor brands. forget about earnings per share. they are a penny better but what you want to focus in on in sales. because they came in well short of expectations. 172 and change was the estimate on a million dollar basis.

they came in 157 million worse, their giebs was for sales around 600 million this year.uir sales around 600 million this year sales down more than 30% the guidance was not what wall street expected. the stock was down sizably after hours last i checked when everybody was wondering on the call and still going on by the way, is how much some of these big box stores like dick's and others coming out and saying they are not going sell ar-15 style rifles is going impact sales? that was asked directly and the ceo said not much because it is tiny listen to this >> the statement made by dick's they will not be selling modern sporting rifles immediately. so we've looked at what percentage of our sales overall for the company.

so we looked at the percentage of sales and it is extremely small. actually 1/10 of 1 percentage point of total overall sales so really no impact and of course anything like this is always built into our guidance going forward. >> and they talked act msr that's modern sporting rifle that is trade particles flance - dick's not likely to make an impact the still the gun debate unlikely to go anywhere. as many more retailsers have taken action could be a tough day for shares tomorrow it was a 30-some stack two years ago. >> you gonna trade this tim? >> i think that is the story the whole conversation is so intense right now but this is a company that's been in decline a $500 million market cap to the story on profitability the story on outlet for demand senior part of it.

i think think the recent news flow obviously is challenging for these guys and you line up however you want but they have been in decline a long time. >> i like dick's and especially what they just announced they are not going allow people to buy guns below the age of 21. i don't think they are alienating a huge customer base. when you look at the polls it is not the thing that is as divisive as what it is with this concentration of the nra people. i think this is a pretty neutral to positive thing for dick's especially talking -- spent a lot of the week talking about the socially conscious investing. >> wall smart story. >> remember cigarettes >> nice to get you view on that. >> you buying on cleveland cliff? stock is up arnely 5%. still time to vote go to twitter now.

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. it was a major distraction for herbalife. i think it is a great company and product. >> that was earlier today on the halftime report talking about

his winning herbalife trade. this after ackman threw in the towel on the short yesterday i can't believe it lasts as long as it did. >> and i can't believe it ended up with the stock north of 90. i thought there were compelling actors ackman made but end of the day he wasn't right. still a amount of short interest but i think that wouldn't be reflected. i wouldn't touch the stock here though it was fascinating to watch as you well know. >> well, carl did say as to that he hasn't sold a single share and that was something he had said almost throughout the whole thick. so he's still holding it interesting. >> if only there was a book written about. >> can you imagine wherever books are sold. all right. that does it for -- what are we doing here >> i don't know. >> -- tony braxton's "unbreak my

heart" which is a huge coincide. what we say when a trader loses a pitch. which is what just happened to the guy adami oneastern. "mad money" with jim cramer begins right now my mission is simple, to make you money i'm here to level the playing field for all investors. there is 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 cramericaia, i'm trying to save you some money. my job is not just to entertain, but to educate, so call me or tweet me @jimcramer. nobody likes tariffs except for all the people whose jobs are going to save no