i do think it's still going to be a question -- it's not a winners curse who gets the assets but looks like the market thinks this could be a messy battle. >> or curse for a little while before it plays out. there's disney tripadvisor some others to keep an eye on that does it for closing bell. thanks as always fast money begins now. >> overlooking new york city's time square. our traders on the square. tonight on fast wall street is running towards bitcoin and flood gates of institutional investors about to open. crito ballroom will break it down disney out with earnings volatile after hours, conference call with ceo bob iger under way. this as the mouse house squares off against comcast, our parent company, in the battle for fox jim stewart, the man who wrote the book on disney literally will be here to tell us what it means. we start there with disney

julia boorstin spoke to bob iger moments ago at headquarters. julia. >> it was much better than expected top and bottom line results at disney's two biggest divisions, theme park and music studios, surprise in terms of revenue and earnings perhaps most surprising considering all the focus on the media networks division, which is disney's biggest division that has been suffering from both cord cutting and advertising declines is that that division reported better than expected both earnings and revenue as cord cutting numbers start to slow. take a listen. >> they have started to moderate the declines this quarter are less than the declines we've seen in the prior two quarters what you're seeing is continued growth in the new we call them dmpvds or digital distributors that's great for a number of reasons, because they carry all of our channels. we think it's a very consumer

friendly proposition so the growth of those is offsetting, to some extent, losses on more traditional platforms. >> i pressed bob iger on the reports that cnbc podesta parent comcast is considering a $630 billion all cash bid for fox, which would top disney's all stock offer of $52.5 billion now, iger said in response to a number-of-questions he's confident its pending deal for fox will go through and gain regulatory approval. >> we think it's actually quite different. i mentioned earlier feeling confident our deal is going to go through that's not only confidence in the ability for usto convince the fox shareholders this is good for them but we're also confident in our ability to gain regulatory approval that we'll need in all of these jurisdictions. >> now, when he said it was quite different, he meant quite different in at&t acquisition of time-warner, which, of course, is challenged by department of justice with that lawsuit

pending right now. now, iger wouldn't comment on plans about whether he's intending to top an offer from comcast, should comcast go through with that $630 billion offer. he wouldn't say what his plans were for sky he did say he's talking to rupert murdoch, he wouldn't say what they were talking about melissa, back over to you. >> not to split hairs here, they have been talking after the story that comcast was readying this bid >> i'm sorry so i asked him if he's consulted with murdoch about what murdoch is planning to do with sky, because, of course, comcast has gone in and offered to buy the remainder of sky that fox does not already own. should fox go in and offer more for sky, that's going to ultimately be something that really impacts disney should this deal -- this acquisition by disney go through. he wouldn't say what he and murdoch have been talking about, but sounds like they talk frequently. >> julia, thank you. julia boorstin from headquarters

let's talk about the report. if there is no deal, do you still continue to own disney based on this quarter and based on what they are saying about cord cutting losses. >> if you're comfortable with valuation, i think you are you don't want disney to have to pay up too much for this deal. i think the deal is for fox for two reasons they want fox sports for espn, hulu, want to control now more than 50% of hulu because i think they want to compete with netflix that's my view i might be wrong the valuation. does disney deserve to trade at 45% premium to cbs yes, they deserve to trade at a premium given everything else they do but not that kind of premium. that's the problem i have with disney, it trades too rich. >> content we're talking about that when you're making your own content like the way netflix is making its content up 70% year-to-date, doing originals versus disney had to get back into netflix's game. i agree with guy

they want hulu, the ability to compete with netflix it's the 100 pound gorilla even with the parks i don't think there's the growth you're looking for indexes even though they have a boatload -- >> saying you would rather own netflix than any other media property now in any environment, even best environment for media company because netflix has higher growth. >> everything looks at flick, try to package it as a different things, it's a beast, tech company, growth company, everyone tries to slap an evaluation that makes sense and they run into a steam shovel. >> that's what's rewarded in the market, that growth. they get a pass like amazon. you look at disney, inside these hulli increasing over the quarter. disney probably isn't going to get the same pass netflix does on this. i actually think this wasn't a great, great quarter i came in thinking i wanted to be bullish, great reward here. early easter which boosted their

theme park theme park reservation down 4% going forward. it's meh as you would say. >> all spending money on content. i don't know why we're acting like netflix isn't burning cash and making a lot of money, that's what's going on, let's be clear here the hulli acquisition is very important. that's what bob iger means, our deal is different. we're putting pieces together that makes sense i think the deal makes sense numbers reinforce the problems with disney. to say disney needs other content when i think it's the best brand in the world i think is not right getting right to the point, disney frayeded a premium for a long time. >> the only difference, though, about the content is netflix is no longer paying for other people's content they are making their own, which makes me think it can be something able to be replicated going forward and not reliant on the disney that was the bear case, deals unwind, going after their own

content, are they going to be able to curate their own content domestically and internationally and i think they put fears to rest for the time being. >> in terms of disney, content, sky for distribution particularly international that's exactly what comcast wants as well international footprint with which to distribute its content therefore, do you want to own disney here if it means that disney wants to go after this deal so much it is going to offer about $10 billion higher. >> which is my original point. how desperate are they the more desperate they appear to be, you say, wait a second, maybe disney is behind the eight ball more than the market is anticipating, which is why -- what time was saying -- >> they deserve a premium multiple i don't think they deserve 45% to a group like cbs. for example the multiple for cbs has to go higher but the multiple for disney has to go lower. >> didn't we get excited when disney went after this deal. wow, bob iger is being really

aggressive this is not their own option out there. this is a tricky transaction, especially when they are going to get to a place whereby the way, if they are competing with comcast, comcast is a distributor of a lot of their content. they have a complicated relationship with comcast. i realize it's been thorny in the past but i don't think they want to go to war. >> why didn't we see media stocks other than these three players obviously? trade higher then. why lionsgate trade lower. something to be said for the idea murdochs first put forth when they unraveled their dynasty, their company, you need scale to compete in this business therefore all the ones left behind, they are left behinds. >> that was the top for content or somewhere maybe 18 months ago. i agree. although i think it's company specific in other words, what we're seeing with cbs and viacom is really based on cbs sold off because people thought they were overpaying with depressed stock and going on to buy a deal they should have a year ago

lionsgate really going on with their tv. >> viacom, obviously significantly off that $23 low or whatever. you're talking about a stock trading at six forwardmultiple viacom should be given their problems how much of a discount do they need to trade at at what point is m and a coming in to be the white night cbs the most interesting followed by viacom close second. >> give you a positive for disney, 12 buys, 10 holds. you know they aren't going to sells. they have catalyst if they find something positive maybe this deal, maybe look through earnings, something said on earnings call they can find something positive there is a catalyst for upgrades. >> here is a thought what do these companies instead of spending tens of billions of dollars spend part of that creating content just like netflix? >> i think disney is certainly the one that's best able to do that

and -- >> so as a shareholder, would you prefer them do that? if you say they are not behind the pate ball, they don't need these assets, build out distribution, can't they build out their own content by putting every penny into content. >> what i think about disney and why they deserve their premium multiple, diversified business, massive theme parks and business that compliments the studio. oh, yeah, and media and cable. that's why they get the premium and all those businesses do not require them. >> the reason why products segment when you look under disney, they are too diversified. the whole idea behind why netflix succeeds and beats them, they do one thing, and they do one thing really well. if disney tried to do that, that's what disney did disney made its own content. disney was the king of content nobody battled disney until now. there are two diversified. the public, the generation now, we don't get and absorb our cob

tent the same way we once did. i'll give you parks is a huge number, a big part of the percentage of their business i like the parks but i think it's too diversified. >> again, i know this isn't a conversation about netflix but when i hear us anointing netflix as the victor, they have been successful and over the top. they created streaming service well out in front of everybody else more competition from netflix -- >> early on they are the victor. early on they have been the victor. >> at the very least they are causing everybody if the space to scramble. every deal has been fiction. >> streaming, not way out in front in content, branding disney controls their destiny more than netflix. >> disney has a massive platform that's what we're talking about. only get one or two things right and drive their earnings so much higher by distributing through the entire platform. that's the power of disney again, if you want to look at the positive here, they get it right and start to get market share from netflix and do the

things we think they should be doing right disney has the potential to be the winner. >> quickly, make an argument disney's content over the last few months -- >> the pipeline also. >> love it. >> long live wakanda. >> content, content. all about distribution so far behind the curve distribution-wise, which is why they are going after this fox deal, which is why they want to be majority owner in hulu. >> what's comcast multiple. >> i don't know the answer to that. >> comcast down 23%, disney down 5%, netflix up 70% the market, i think, has already passed the verdict here. it has already given the verdict on the names netflix is the one you buy right now. >> quickly, comcast does trade at a premium comcast 11 1/2, 12 times x parks and studios comcast probably trades the same place disney trades right now.

they are on par. >> trades at a significant discount to disney. >> if you back out -- agreed if you back out parks and other stuff, it's the same company. >> here is a question. can you guess what the question is >> would you rather disney or comcast? >> exactly. >> comcast. >> brian kelly, i'm not asking you. >> too late. too late. >> i'd rather -- you know what, disney i think they just have a bigger potential to turn this around. >> tim >> what i like about comcast they already have a footprint which is where on some level disney wants to be, maybe through broadband, streaming i think comcast has an enormous platform this fox deal would be better for them. >> that question was stand alone. comcast or disney plus the fox assets plus 100% of sky. would you rather guy? >> it's a trick question. >> why is it a trick question? >> if they get fox at the price they are looking at, don't have

to bid up, the answer is disney, yes. >> we're going to stay all over disney earnings call including any comments about potential fox deal jim stewart from the "new york times" will be here to tell us what needs to happen to save the deal for fox. plus president trump making a bombshell announcement to pull out of the iran deal it could be good news for one. adopting bitcoin brian kelly said he has never been more excited about the crypto universe. he'll explain why. live from times square in new york city. much more fast money right after this

money. president trump with drawing from iran nuclear deal earlier today sending crude prices on a wild ride. eamon javers at the white house. >> steve mnuchin finished a briefing a few minutes ago he said a couple of things explaining detail behind these sanctions. one is the licenses for boeing and airbus to sell aircraft in iran will be revoked under new sanctions. he also raised the possibility of waivers and exemptions to be given to specific companies and countries going forward. so it's not clear exactly how much impact that's going to have

on boeing and airbus's business. we'll have to wait and see more detail on that front meanwhile the president today, there was some expectation he might have some mitigating circumstances, some carve out, some time delay here in fact the president shows the most significant sanctions route that he could choose here is how he explained it. >> i am announcing today that the united states will withdraw from the iran nuclear deal we will be instituting the highest level of economic sanction any nation that helps iran in its quest for nuclear weapons could also be strongly sanctioned by the united states. america will not be held hostage to nuclear black mail. >> her is some of the reaction from around the world starting with iran, which said that the president's decision is illegal, illegitimate and undermines international agreements the french president emanuel macron said france, germany and

uk regret the decision to leave jcpoa, nuclear nonproliferation at stake benjamin netanyahu thanks trump for his courageous leadership and commitment to ensure iran never gets nuclear weapons what about north korea president said secretary of state on his way to north korea now to engage in last minute negotiations over the fate of the north korean nuclear program. a lot of questions about whether the implication about getting out of the iran deal has implications for a possible new north korean deal. the president seemed to be talking straight at north korea when he said this. >> today's action sends a critical message the united states no longer makes empty threats. when i make promises, i keep them. >> that could be a signal to the north korean side that the president intends to honor any deal he engages in with north

korea even as he's tearing up the iran deal that was negotiated by his predecessor barack obama. >> eamon, thank you. eamon javers joining us from the white house. market reaction interesting, intraday lows s&p 500 shortly after the announcement basically we ended the day flat. as for oil we ended up off the highs we saw of the day. >> to me it feels such a contrived move we have saudis say they want $835 oil saudi aramco down the people, $85 oil. they are trying to transition away from being oil dependent and want to move into a different phase of their country's wealth then you have iranians saying between 60 and 65 is the right level for oil. to me this is all geopolitical, which we all get do you think that iran is going to do anything to stir up that region in the face of trying to hold everyone at the table, i think it would be counter-productive for them. i think if there's a

geopolitical premium on it, you have to sell it. this is sell event. >> wall street going up nine months, 75% off the lows and everybody -- bottom line fundamentals in the oil sector look good. whether you want, 3, 4, $5, bottom line dislocations are placed into oil where they were not two years ago. oil companies most importantly for the stocks are being run much more efficiently. oil services and good balance sheets showing capital discipline are ones you stay in and ones that have been great trades for nine months regardless of iran. >> oil prices are 18% off tr lows -- their lows of 2018 this has been a trend for a while. >> today if you take away the news, i don't know what's happening, look at the chart, highest volume since 2016. massive volume on a reversal a reversal at the high you want to see reversal off the low. looks like it wants to break out

on purely technical. >> what did we beat. >> 76. >> tells us that was the premium, geopolitical premium priced spoke oil, 76. >> we made this point last night. oil has been going higher. >> saudi aramco. latest awn. >> trajectory in oil has been the same last year and a half. >> saudi aramco. >> interesting the president said something we talked about last night. dan nathan, what's going to happen with north korean agreement. the president addressed that we talked about that the president can say iran deal was passive administration exactly what he said oil volatility closed down $2 today which my opinion is bullish. volatility index on s&p 500. market looking passes. all seems like trajectory going higher. >> ahead all over disney conference call.

that stock is volatile after hours down .4. bob iger ceo speaking to investors right now. we'll bring you those comments as they break. i'm melissa lee, you're watching "fast money" on cnbc first in business worldwide meantime, here is what's coming up on fast. >> u.s. dollar is soaring. it's wreaking havoc on a number of markets we'll tell you how to profit plus, something just happened in bitcoin has made b.k. the most excited he's ever been he'll tell you what that is when "fast money" returns

platform for for bitcoin citing multiple sources. what would happen, the latest big name traditional wall street company to seemingly embrace cryptocurrencies insurance talked about are simple swap agreements the reason why this could be a big step, it would settle these swap contracts with actual physical bitcoin or i guess as physical as a cryptocurrency actually can be meaning at

settlement you or somebody gets the bitcoin itself it's different from the futures market on cme and cvoe where trades are settled for cash. ice and nyc declined to comment on these stories this project if it exists is still under wraps. it does come at a time when a lot of folks are wondering about crypto comes on the heels of goldman sachs opening a trading operation and hiring ahead of digital asset trading. could this be the latest step in widespread adoption of cryptocurrencies perhaps we'll see. back to you guys. >> thanks, dom chu in the newsroom all of wall street's love for bitcoin has b.k. more excited than he's ever been. that's has he says at least. he's at the plaza to break it down and what it could mean for cryptocurren cryptocurrency. >> i saw in news and was very excited. i was excited the market didn't pick up on this. you notice what dom said, physical delivery of bitcoin

that doesn't sound that interesting except for the fact it means ice has custody solution that has been the big hurdle how do you hold onto these assets these are bearer instruments, like bearer bonds, you have to have third party custody that's .deal they have come up with custody solution for institutional holders. it now means cryptocurrencies look to becoming an emerging asset class just like futures did, like options were and foreign currency were back in the '70s again, that was part of my original thesis when i looked five years ago, that's how this was going to evolve. then finally what does this do it opens the doors for pension and endowment. up to this important important to get comfortable holding cryptocurrency if it has a solution s.e.c. qualified, fits with their compliance that's going to open the flood gates.

this is a big growing market but relatively small to the other markets. just a small amount of capital flowing into this could have big price moves. let's take a look at bitcoin where we are in this we looked at this last night still on the upfriend. 10,000 still a big number here we had a little selloff today. people just misunderstood this news they didn't realize how big the custody issue is here. i think on this news we start rallying particularly in blockchain next week, blockchain week next week my guess is 10,000 in the sights. >> do we know ice has a custody solution in other words do we know ice is working on custody itself or do we think perhaps ice has designated some be who has a custody solution right now the custody solutions lie in a handful of very small operators out there. >> cold storage. >> cold storage. what we use it for my fund kingdom trust out of kentucky, s.e.c. qualified custodian

they are smaller custodian you know, whether ice actually builds cold storage and has custody or outsourced it, to do it on the level they are going to do it, that institutional level, means quality of that custody in cold storage is really above grade so i'm less concerned whether or not they built it in house or third party. the bottom line that custody solution is here. >> b.k., when you talk about it becoming an asset class, i believe in zero-sum game what asset class expense is it coming out of for bitcoin to become an asset class. >> great questionsteve grasso. a lot it can take but most obvious is gold. bitcoin and other cryptocurrency acting as digital gold, some kind of store of value we can argue about that. that does seem to be the most orve one my view over time, we're going to get security tokens, oil backed tokens, a lot of different things here so we can

steal from different areas but today, most obvious, gold. >> thanks. >> my pleasure. >> disney volatile after ceo bob iger on the conference call now talking everything from deals to espn that stock is down by just a half a percent right now we'll bring you all the comments plus we'll hear from "new york times" columnist jim swatert, what is really behind bidding war for fox. more "fast money" after this hi'. because you've made sure this sensor and this machine are integrated. atta, boy. & yes, some people assign genders to machines. & with edge-to-edge intelligence, you'll know your customers love this color, & don't love this one. never getting grape again. & you can adjust in near real time. & if someone tries to breach your firewall in london & you start to panic... don't. you've got allies on the outside, & security algorithms on the inside. & if it's jammed up here, & it's hot in here.

& you know both those things, you can do this. & your flowers won't wilt. at&t provides edge to edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when her patient's blood pressure drops, she can share the information with...

welcome back to fast moepz, disney's earnings call wrapping up the stock has been volatile. back to julia boorstin at disney headquarters julia. >> well, melissa, when i spoke to bob iger before the earnings call i pressed him a number of times for any guidance on what he's planning to do should comcast go through with the $60 billion all cash bid for fox that we hear is in the works this would, of course, top disney's offer he wouldn't say how much he's willing to spend for fox but he did say he's confident his deal will go through. >> i'm not going to speculate at all about either what they are doing or why they are doing it i can only say and reiterate, as you know, we made a deal in december that received unanimous approval, which is important, by

the 21st century fox board we're in the process of filing what we need to file to gain both regulatory approval and shareholder approval we're certainly excited about that acquisition and remain confident that it's going to go forward. >> now, on a number of occasions both to me and on the earnings call iger stressed the company's direct to consumer app, two of them, detective to consumer or disney in the works reliant on the fox acquisition. he did mention there was some opportunity to leverage fox's assets >> on the sports front, the regional sports networks then on the disney front, we think there's great opportunities for nat geoand some of the other fox properties to be part of the disney family direct to consumer proposition but that largely is going to be anchored by disney, marvel, pixar, and "star wars. so not dependent at all on the assets we're buying from fox.

>> as we listen to iger's commitment to buying fox and hear about comcast bid in the works, it's worth noting this wouldn't be the first time that comcast and disney have been caught up in m and a talk. it was a while ago back in 2004, comcast made a $54 billion bid for disney it then, of course, pulled that offer when it became clear the offer was too low. back to you. >> thank you very much julia boorstin who here is confident that disney's deal, disney's bid will go through, as confident as mr. iger is? >> think about what they have bid fox -- fox trading 17 times next year's earnings that's basically twice the valuation of some of their competitors. what does fox have that nobody else has i'll say it again, i think it's the hulu thing, scale. will disney overpay? maybe it will. you have to ask your self, why are they so hell bent on getting this asset that's why.

>> our next guest no stranger to bitter battle to buy disney all those years ago. james stewart p "new york times," author of "disney war. how do you see this deal shaking up who needs fox assets plus sky more >> well, they both really want it that's obviously clear now comcast already apparently bid about $60 billion, which is significantly higher it was turned down on the grounds there were antitrust concerns those antitrustconcerns may go away any day if the judge approves the time-warner at&t deal that is a huge wild card here. if they lose the bid, nothing changes. the disney deal will go through. most people i think now think time-warner, at&t, will prevail in this case if they do, all bets are off and we've got a bidding war going on here scale is important for two reasons. it gives you the critical mass to go directly to consumer as

disney is trying to do, go against netflix and amazon the more users you have, the more data you have this tech-driven media world, more data you have, more you can craft advertising, more you can recommend programs to people, the smarter you are as a company. that is a huge issue that's the main argument for at&t and time-warner coming together it applies to disney, it applies to fox. >> so let's say at&t time-warner deal goes through as expected. the murdochs have to choose between these two offers as they are right now. you don't think disney is going to standstill on this is what you're saying? they haven't turned down a deal that is an all cash deal $10 billion more than the current deal you have at hand. >> the murdochs i'm sure are going to be thrilled there's a bidding war here that breaks out if i'm then, what's to lose here under the circumstances a better price. it's true, iger is right, there's a deal in place.

we all know until a deal closes, a deal can be broken for a price. it looks like comcast may be willing to pay that. there's also not a whole lot of downside for comcast either they get the assets maybe at what they were willing to pay anyway or force disney to substantially up the ante. that hurts one of their major competitors. the rivalry there goes back to the hostile takeover bid in 2004 the thing about disney and comcast compete on the comcast side disney distributes through comcast cable network. so they are like doubly antagonistic here. >> the personalities are playing a role in this bidding war. >> they always do. these companies are particularly in the vortex of everything that's happening right now. >> is there any bad blood between the murdochs or rupert specifically or brian roberts. not bob iger they have a deal to go ahead is there anything personality-wise that would make you think they are not willing

or they are not apt to take the comcast deal >> no, i don't think so. murdoch, the bottom line, he's a dealmaker. he's not going to turn his back on $10 billion again, i think there's nothing but good news for him in this situation. >> we're thinking about scale, and we're thinking about scale in the context of these media players. if you go back in time, all these media players really underestimated one big elephant in the room today. that would be netflix. remember back in 2010 time-warner ceo jeff bewkes said this to "new york times", is the albanian army going to take over the world i don't think so is there an albanian army today, jim, that you think people aren't looking at? they are so busy looking to acquire content with the distribution platform, they are not seeing what is coming down the pike >> well, possibly. it's interesting that netflix back then could call an albanian

amazon, too, they didn't go out and buy fox or paramount or somebody like that. >> right. >> they created media companies from scratch, which by the way what antitrust regulators love that, creating organic competition. it's one of the great stories of the year that they went out there and hired the people and bought the stuff and started up essentially their own studios. it's really remarkable achievement. some people saying why didn't at&t just do that? i don't want to get into that. i mean, there are reasons. so yes it's possible there are people right now barriers to entry for content creation do look low given what we've seen from amazon and netflix. the question, are they so far ahead in the over the top with the large user database. by the way, as i said, bigger the database gets, the more efficient their ability to target viewers and advertisers is, that's why google became a natural monopoly more searches you have, better you can.

more users better programming is, better able to appeal to what you want to see we're in a new world here. >> m and a is the only way if comcast spent $60 billion in cash, they couldn't raise their own albanian army to add to what they have already? >> no. some people have said netflix is spending $8 billion a year that's a hot less than at&t is paying for time-warner why don't they spend $8 billion a year we're sort of in the media business i think of all businesses, you can't just throw money at the problem. it takes discernment, judgment, taste, some unquantifiable gene to help you figure out. >> risky. >> it is risky the entertainment business has been notoriously fickle and historically it's the talent that walks away with the profits. we're in new territory, which is fascinating to watch. >> it's amazing, two albanian armies been built in the past

eight years. netflix and amazon. >> youtube and facebook getting into some of this stuff. yeah, you know, there may be more of these armies on the march. >> thank you. >> "new york times." >> did i miss -- when did albania -- i saw the whole bewkes thing. >> they are not albania anymore. >> you get the drift of it. >> i get the drift. >> okay. what do we think about -- jim cramer pointed out very aptly, as he always does, this is a lot of leverage to the balance sheet. they do through with $60 billion all cash deal. >> you want my opinion, i'll give you my opinion. i think comcast is bidding up the price it make disney flinch. i think a mistake by disney. you have to ask your self why does disney have to make the mistake? they are behind the eight ball with netflix for the last five

years. >> who is more behind the pate ball, wall street or disney? >> i think -- >> disney. >> no. i think comcast has all the foundation in place to compete at every level do they have at much content as disney, depends what you like. i will say james brought up a great point. the new era of software means that is what's helping these guys win the war they are competing almost knowing the answers to what is successful that's important. >> still ahead king dollar reigns p how much worse it could get. electronic arts rallying up. up 8% this year. tell you what has investors piling into this name. much more "fast money" right after this you were paying? was your broker a fiduciary? were you satisfied with the attention you were getting? then i explain that being independent gives our firm more freedom to act in their best interests.

independence lets us do that. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com

welcome back to "fast money. king dollar is back hitting its highest level this year and that sending shock waves around the world. seema mody live at new york stock exchange with the latest hi, seema. >> melissa, that's right markets in correction territory trading 11% off their recent high as mentioned that's primarily by the stronger dollar which makes emerging market debt more expensive. the size and speed of the dollar rebound has caught some emerging mark by surprise case in point argentina which had to hike its bench mark rate to defend plummeting currency. the country today requesting financial aid to curb future

volatility as they hit another record low today other currencies under pressure including brazilian real, mexican peso and lira lower by 5% or more in the last month further weakness will push central bankers to take bold action to stem outflows. outside of currencies, rising oil prices increased cost for net oil importers like india, japan and south korea, which has caused inflation to accelerate putting some more economic stress on these emerging markets. melissa, back to you. >> thank you so much seema mody is there an emerging market specialist in the house? tim. >> seem, did a nice job reporting about the story all day. emerging markets underperformed. i'll say this. the dollar up .58 since the lows since that time emerging markets off 6%, talked about performance on s&p dollar only going back to december levels, fwook 100 if anything, i actually think the dollar which is now more

overbought on relative strength cater do what you want, march 2015 when it went up to 103. what's been working this time of a strong dollar even in emerging is china alibaba up currencies in brazil get devalued but their dollar revenue generators petra up 10% during this time em countries not as levered to the dollar as they used to be. you need to be careful making the broad-based statement. >> should we be concerned about debt, many bond funds emerging markets, the bond index lowest level in about a year right now. >> we have according to imf about $9 trillion of u.s. dollar denominated debt globally. it's the largest number in history. people talk about deleveraging, it didn't happen

deleveraging wept out to different areas. more debt than we've ever had. bigger than ever had not saying the dollar is going to 100 tomorrow. if you're looking at what's happening with emerging currencies, hong kong dollar might be next. u.s. dollar a strong, much stronger u.s. dollar can act as global wrecking ball. >> still ahead, it is the one tech stock traders say could soar 15% this week we'll tell you what had them bullish. live osiutde new york city's times square much more "fast money" right after this people said it just made a mess until exxonmobil scientists put it to the test. they thought someday it could become fuel and power our cars wouldn't that be cool? and that's why exxonmobil scientists think it's not small at all. energy lives here.

xfinity x1 customers can "vote for the voice."g, i'm gonna vote for... unless, kelly clarkson, you're a coach, because, you know, that wouldn't be fair. [ whispering ] whatever. which artist will you vote for? vote for... ok, still know it's you. i just wanna vote! cast your vote during every live show. simply say, "vote for the voice" or your favorite artist's name into your x1 voice remote. come on!

welcome back to "fast money. electronic arts out with earnings after the bell today. the stock is moving higher in the after hour session let's get to deirdre with the latest from the conference call. >> reporter: one analyst on the call noting strong quarter p huge hit from epic games might hurt ea's engagement ceo crediting quarter with new ways consumers are consuming games and ea is reaching consumers by pushing into event. let's have a listen. >> new forms of content, consumption models, advanced technology accelerating in the network world and satisfy the unique needs whether you're a player or viewer, our competitive gaming experience for games like fifa,

madden nfl and more are becoming must see programming for fans around the world >> now, melissa, to be honest we were waiting to hear more on the events strategy and impact from fortnite a lot of questions focusing on doubling of buyback and specific titles back to you. >> deirdre, thank you. both from san francisco, esports we cover that here huge trends. >> ea is the leered in the group. ea is up 20% with that after hours market move. it was based on for me a lot of it was corporate repurchase, buyback. but i like activision, take two, a reason it's lower, that's basically flat year-to-date. i would play -- instead of buying ea at these levels i'd be activision. >> jpmorgan initiated may 1st, 150ds price target people knock this on valuation

they are wrong, a lot of room in this stock i disagree with take-two. >> deirdre was mentioning pop polar fortnite, esports how big that is in terms of eyeballs, could be a real sport. remember back in the days when disney was reportedly making a bid for ea >> would that kind of deal be interesting today? >> i'd rather see disney make the deal that's the new distribution platform rather than old tech, new tech tim talked earlier the idea software is eating everybody's lurch out there. why wouldn't you want to do this the growth area? look at esports games. madison square garden, the expert apparently. he was there early, they filled the arena. >> e supports correspondent. >> i am now chief esports correspondent. guys, behind me, margins on these things going higher not lower. global reach going higher. i like the valuation even though it's too high.

>> guy can't hold a job down, though video games to video streaming roku set for tomorrow. big moves on the results let's get to mike in austin to break it down. hi, mike. >> hi there. above average volume today, calls outpacing by more than 2-1. the market kbrig a move of 15%, pretty big up or down after earnings where we saw the most activity may calls, trading about a dollar the best options traders are making, above $38 after earnings. >> thanks for that, mike for more "options action" check out friday 5:30 eastern meti up next, we've got the final trade. stay tuned (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't?

coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.

time for the final around the horn. >> multiple media space viacom get there. >> brian kelly. >> if you think oil is going higher like i do, go way out on the risk curve trans ocean buy that. >> steve grasso. >> tesla, bought on weakness traded above $300. still long, doesn't mean you can't lock in profits. >> guy. >> a lot of tv shows out there very few can surround the walt disney company >> feel good about that. >> i do. i think we gave the folks at home a lot to talk about in the

realm of walt disney. >> there is a lot to talk about in the rim of disney and comcast. >> take-two interactive. >> did you forget? just checking. i'm melissa lee. thanks so much for watching. see you 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 save you some 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. ever since president trump pulled out of the iran nuclear deal today, i have heard it is good for stocks. it is bad for stocks