the company did beat fourth quarter estimates. they are down 12.5%. and we've got about 10, 15 seconds left mike, tomorrow key things to look at. >> gdp we get some real macro numbers we'll see if it can shock the market off this slumber. >> and larry kudlow at 9:30 on "squawk on the street. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. tonight on "fast" stocks falling for the second day in a row but steve says buy, buy acti, buy. plus a bit of an earnings dip after hours. we'll bring you all the details of those conference calls. first we start off with two sides to the trade war robert light hizer putting a bi

question mark on the deal between the u.s. and china. >> let me be clear, much needs to be done both before an agreement is reached and, more importantly, after it is reached, if one is reached >> but on the flip side, boeing, the poster child for the trade war in many ways, is flying high in fact shares are soaring to an all-time high, taking off since the december lows. now up nearly 50%, adding almost $80 million in market cap during that time frame. so what should investors believe? which side is a true trade war tell, guy? >> the trade war tell. i think the true trade war tell is mr. lighthizer, his comments today. i think it's going to get slow walked quite some time i've been in the camp a deal is not going to get done any time soon then you'll say wait a second, guy, how did boeing go from $285 a month and a half ago to $425 -- >> answer your own question.

>> he is. >> what was the question >> the answer is the following the fed bailed us out, number one. the market realized, wait a second, boeing isn't necessarily a china story, it's a free catch flow story and the valuation is reasonable has it gotten ahead of itself? yeah, i think so but i don't think boeing is necessarily saying a trade deal is about to get done. >> i think it's more a trade war story. i think it's going to roll i think the market will roll and we're getting very close to that day. >> i think boeing is the ultimate noncyclical cyclical story. i need to explain myself guy talked about they're going to have 17 to 17.5 billion in free cash flow in 2019 this is better than expectations which were extremely high. look at the order book look at the duopoly with airbus and you have a dynamic i don't think you have any place to go

i think it's probably 6%, 7% of essentially their bottom line and i don't get worried about that for a company that is executing on all cylinders so i'm not going to tell you they won't be moved around by trade war headlines, but stay the course on boeing this company is worth owning. >> and their peers in terms of the sector, that sector has been outperforming. >> if you look at the industrials, part of the story here, mel, i agree with whomever is on the side of, look, the trade war is the trade war i think this is more of a cash flow story what's been performing technology what's technology? these guys are all free cash flow guys. apple and microsoft and all these various names. you look at some of other areas and you see the same thing tim mentioned $17 billion in free cash flow we're talking huge numbers and the pe is still like a forward 18 so 60% commercial airlines i don't think they're as

dependent on china as the rest of the world seems to think. china needs them more than they need china. >> you're the only person who thinks boeing is a trade war stock still. >> i do believe that's where it started. i do believe that that's where it started and evening you brought up industrials, right that's the sector that they belong to. it's overbought on an rsi. so i think it's overextended i don't think it's a terrible stock. there's a hell of a lot of reasons why they rallied, but i believe they're overbought. >> what's tonight, thursday night, right >> no, it's hump day >> remember the double dog dare? remember christmas story, pete double dog it went straight to double dog dare. >> on caterpillar. the caterpillar downgrade. >> ubs went from a buy to a sell if you said what is a bigger tell, boeing or the ubs downgrade, which is a different game, i know >> bigger tell on trade? >> the bigger tell on trade.

why is that? if ubs believes there's a trade deal about to be made, there's no way in god's green earth they would have gone from a buy to a sell. >> they're separate issues they were calling out weakness around the world regardless so maybe some stocks are -- >> if you're teetering on recession and even if the trade deal gets done, isn't there a host of reasons why china growth has been lackluster? why it's been upper left to the lower right, as dennis would say, but he'd say the reverse? there's a host of backdrops that's negative for the market. >> so there are reasons already to be negative on some of these stocks. >> i am of the view that if you look at the chinese data for the first quarter and the fourth quarter, obviously there was two things at work one, you had china already slowing going into a trade war the chinese authorities and policy makers were flat footed by the trade war they have cut triple rs,

stimulated their economy, have more to go and are cutting taxes. january the highest credit expansion in china in a long time i think china's data has bottomed i think europe's data has bottomed for the short run as long as we get this deal i don't think it's going to be great, steve, but everyone has priced in the end of the world and that is in a lot of these numbers already. >> i think by the same token you can say what tim said and be 100% correct and you could also say we've also priced in 90% to 95% of a positive trade war deal so you can sort of trade both of them, which is sort of offsetting for me. i think the market has run so much into a trade deal getting done that it's actually -- >> here's a question has the rest of the world priced in a trade war deal? has china priced in a trade war deal has europe priced in a trade war deal arguably their markets might see a bigger boost from a trade war resolution at this point >> my view is absolutely not

and i would argue also that china's markets, which i think by their own standards are crazy cheap right now, and we've had a lot of technical breakouts, i'm not saying china is a great story. but relative to where people were pricing it. you also have msci inclusion, you'll see a lot of asset and passive flows. the dax has been a disaster. the dax was most punished by the trade war because they are the largest export economy relative to their gdp i actually would own germany here as well. >> i still think it's not priced in nearly to the level you're talking about, steve. >> here in the u.s.? >> here in the u.s and i still think that china quite honestly, the need for us is bigger than everybody wants to say everybody thinks we need them. >> i see what you did there. >> us, u.s., yes i still think there's plenty of upside built in for us i don't think it's as much priced in. i think all the other elements

are priced in and now all of a sudden you look at china that, i think, puts us near the 3000 level of the s&p 500. >> one of the reasons for the market or participants thinking china was going to cave, was because their markets are performing so poorly, down 32%, 33% a month, month and a half ago. those markets have come raging back if the markets have come back, maybe that gives them more resolve than we think. i understand what pete is saying and they probably do need us more than we need them with that said, i think the chinese play the long game, we don't. i think they string us along. >> so you have said that a trade deal will be the sell the news event. what kind of selling do you think we'd see >> i think the calculus has changed. the same way we saw the sell-off based on powell in october and we tested that february low, we got down to 2346, the calculus has changed now. he's got super dovish. so i don't know if we retest the exact low but maybe in the 2500 range. >> exact low of december 24th?

>> 2350, 2346. i think you can see something in the 2500 range, somewhere between 25 and 2550 would be a good enough test for me. >> our next guest believes just the opposite basically he says a trade deal is coming and to buy stocks now because a rally is alive and well. let's bring in the portfolio manager at federated investors great to have you. your year-end price target is 3100 is trade going to be the major catalyst >> they're underwriting an upside move by taking a policy error off the table. we were here a month ago the market was pricing in a recession in q4. that's not going to happen and if you don't have a recession, the bull market shouldn't die. by definition if it's still a bull, you have to hit a new high you guys are the traders, i'm the investor i don't know what the next 2% or 3% move in the market is but we feel it's going to hit a new high in 2019.

>> how do you account for slowing growth around the world. this sort of underscores a notion that there is concern outside of a trade deal happening that glorowth overalls slowing. that's going to hurt markets for u.s. multi national companies and that might be a sign you might want to worry about companies and how they're doing around the world. >> everything you said but i'd change one word. growth isn't slowing, it has slowed it has slowed and we think it's bottoming in q1 and will reaccelerate later that slowdown is causing the central banks of the world to go from kind of synchronized tightening to synchronized stimulus that's the part of the story we think is different we're at 2800 today on the s&p we were at 2800 five months ago. instead of being at peak earnings and peak growth ready to decelerate, we think we're bottoming and reaccelerating we think you're paying 16.5 times now, you were paying 18.5

times five months ago. the fed is no longer in play all of that suggests to us that this 2800 is more attractive than it was in october. >> you know what's so interesting about the totality of what you said is that basically you're saying in the u.s. we've taken a policy misstep off the table or we will when we have a trade deal. a fed misstep is out of play either but you're putting your faith into central banks around the world who can stimulate those economies around the world to prevent us from feeling the pain. >> i think it's faith. china threw more money -- >> you're not worried about the missteps in europe or in choina. >> we believe in the face of that growth slowdown regardless of the fact that powell was finding his way to the right rhetoric that ultimately the fed wasn't going to hike our way through a recession. we don't think the rest of the central banks are interested in killing themselves either. >> was it a policy error because you made the markets go low or because it did something to the

economy. the president talks about the greatest economy in the history of the republic. the fed is just trying to get to some level of ormalization i don't know why that's an error. >> the fed has mandates of maximum employment and stable inflation. one of them is not to just cause a recession because. if they were in a scenario housing was under pressure, autos were under pressure. the dollar was strong, global growth is slowing and their hand isn't being forced by inflation, why? if slowing down today means that they make the expansion last longer and can one or two more or three more hikes over the next two or three years, that's a better trade-off yeah, you want dry powder but you don't want it sooner than you have to have it. we think it's just a matter of looking at the risk and return and saying we don't need to be crazy here if you don't have a fed hiking and you don't have a policy error, it's hard to get to a recession. all recessions have that. >> steve, based upon dry powder

concept, where do you put money to work here because you're going to 3100 most people would say we need to see the same horses ride on and those would have to be mega cap tech and ultra cyclicality. >> the easiest money to be made is in the united states. cyclicals, small caps, interest rate sensitive parts of the market all you need is no recession and the fed to do exactly what they said they're going to do, which is nothing if i go internationally, i need the trade war to go right, i need the dollar to weaken. >> you just said the trade war is going right. >> i know. but in the u.s. in terms of easy money, if all that we do is the fed doesn't do another about-face and a recession doesn't come, we've had parts of the market that were down 25%, 30%. this is energy, industrials, materials, financials. we think that along with small caps and dividend plays are your easiest money in the market right now. >> steve, great to see you

what do you think? >> i think that industrials -- i agree with most of what he was saying i think industrials are overbought so the market can move sideways and lower. as he said, he's not forecasting the next 5% move, he's forecasting it for the year. i think industrials are overbought i think tech is overbought i think you have to go away from those. >> the question is are we in this place where the market is not where it was ft first couple -- the first month really of 2018 or last part of 2017 everything i'm hearing from anybody who at least is talking about an earnings recession says this is a market that looks a lot more like 2015 when we really hadn't recovered. we're buying the market because there isn't an alternative. >> i think you just look at the stocks like we just heard. if the fundamental story is there and they have got growth and if they're trading at pes that seem very cheap, i think there are great opportunities out there. i think there are names in technology that aren't the big four or big five that fulfill a

lot of that. i think there's all kinds of different opportunities that have room to the upside and give us a nice push to get us to that 3000 level on the s&p. twitter shares are down nearly ten%. what's wrong with the stock? it's been a little slice of retail heaven but there's something happening that could bring it back to earth. and later, pete will pitch one stock that he says is about to soar. much more "fast money" right after this ♪ ♪ dear tech... let's talk. we have a pretty good relationship. you've done a lot of good for the world. but i feel like you have the potential to do so much more. can we build ai without bias? how can we bake security into everything we do? we need tech that helps people understand each other. that understands my business. we've got some work to do... and we need your help. we need your support. let's expect more from technology.

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awant more from your entejust say teach me more. into your xfinice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ]

show me my wifi password. hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome. welcome back to "fast money. we've got an earnings alert on box getting crushed in the after-hours session. josh lipton is in san francisco with more. hey, josh. >> melissa, i reached out to some analysts for some quick street reaction. i spoke to one from d.a. davidson he said billings obviously fell way short. the revenue outlook was not just below the street but represented a significant deceleration he made the argument to me that box is still a company with good technology to him this looks like, though, extended sales execution issues. the bottom line he says is that

a turn-around in sales and a reacceleration in growth could take significantly longer, he told me, than investors had first expected brian peterson at raymond james is telling his clients, there were solid cost controls in the quarter but bottom line for him, prior indications of growth acceleration in fiscal '20 clearly in his words off the table. i had a chance to check in with the ceo as to the guidance, weaker than expected he made the point that he would point to two broad points of weakness, a few seven-figure deals did get pushed out in terms of geography, they continue to see weakness in amia andfocused on new sales training and new sales leaders i asked aaron levy about that and he said dropbox does compete

with customers, especially in the small business category, but in his words he is not seeing them show up in the enterprise back to you. >> josh lipton in san francisco. shares down 23%. pete, what do you do >> i think one of the issues they have, and josh kept mentioning deceleration and he talked about some of the geographic issues. i think the other thing is they're just plain losing to not just drop box, they're losing to microsoft, google and others out there. that's a problem if you're supposed to be the one gaining market share because you have so little and you're not and it's decelerating, that's a huge problem i think this is a no touch at this point you have to wait and prove that they can compete at a high level like salesforce does and destroys the rest of the competition. >> fiscal year '20 growth they're indicating 15% and that's a huge gap in terms of expectations versus what they say they can deliver at this point. >> i think this is a struggle for all these players. dropbox is not a stand-alone on

that the fact box was up 50% didn't leave any room for error i think this is an overreaction. this is a massive, massive move on a miss that was not good, but not terrible. >> it's been afforded an incredible multiple. as pete said, any pullback, even though they had growth 20% year over year in revs, if that doesn't do it for you, then it has to be a no touch it seems the writing was on the wall and it was given a wider berth and it seems that berth is narrowing. >> this will be the fourth in a row where things have gone pear-shamed. goldman sachs initiated the stock by, $31 price target a couple of weeks ago. it will be interesting to see if they reiterate i'm with these guys, no touch. if it gets down to 17.5, i think it becomes an interesting deal once again. it's not just box.

check out some of the other big earnings movers, earnings disasters. square, brands and booking all getting slammed. we'll bring you the latest details on all of these stocks i'm melissa lee. in the meantime, here's what else is coming up on "fast." well, retail heaven doesn't look too far away. this group is stocks is surging. there's something that could bring these stocks back to earth. we'll explain. plus pete najarian is stepping up to the plate to pitch one stock that he says is about to take off. and, yes, that's a ht.in there's much more "fast money" right after this duncan just protected his family

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money. cellgene is tanking after hours. >> that's right, the stock is down more than 8% after hours after wellington management issued a statement saying it does not back the deal between bristol myers and celgene. bristol-myers has an 8% stake. in early january bristol announced the agreement in a deal valued at $74 billion they believe it asks the shareholders to take on too much risk back to you, melissa. >> thank you very much there are other investors, the fifth largest shareholder, dodge and cox, also unhappy with the deal so what happens at this point? >> could be a blessing in disguise for celgene down the road at some point it does make sense we probably talked about it at the time i thought bristol bit off far more than they could chew. it's a hail mary for a company

that hasn't been doing well. eli lilly, merck, pfizer have been doing well. i think it's a hail mary and a lot of people are calling them on it. bristol is at $73 billion market cap company. this is a huge deal for them i understand why wellington would push back. what does it mean for celgene? in my opinion i think you buy this weakness. i'm not suggesting somebody else comes in to scoop them up, but at this price the stock is undervalued. >> reportedly the fifth largest shareholder and then starboard, the activist who wants seats on the board of bristol unhappy with the deal. >> well, if anything, to me bristol seems the place you could maybe take a nibble. we'll let the options actions guys deal with that. this is a stock that has not participated in any snapback of the markets. it was a deal that seemed to be made out of not desperation but not out of strength. there's a lot of overlook, there's some expiring pipelines in both companies. it's like let's get together and

eliminate some cost overlinks. >> i think the opportunity is still celgene. bristol is masquerading as a pharma company that's actually a big biotech. >> you've got appen activist th you can invest alongside >> i look at it if the whole deal completely falls through, i think celgene is way cheap. >> it already had that huge pop. it popped 40% off the recent lows, maybe even over 40%. >> yeah, it did. >> i get what you're saying about bristol, but i think you'll probably see that one creep higher. >> bristol. >> bristol creep higher versus celgene. >> i just don't like them long term. >> who could buy celgene at that size if left alone, they're more likely the acquirer in the next transaction. yeah >> masquerade is one of my favorite songs at fphantom of te

opera. i won't sing it. i understand what pete is saying steve is saying, yes, celjegene did have a big boost off those lows but the balance sheet suggests the stock should be higher i would buy celgene and sell bristol myers. now shares of l brands bucking the broader retail rally this week. bob pisani will break it down. >> hello, melissa. the retailers aren't dead yet but department stores and specialty apparel are having a really tough time. l brands reported fourth quarter earnings that were above expectations but they gave 2019 guidance that was well below expectations that stock trading down about 6% in the after hours still, a spate of results, the etf is up 2% since early

december, up 20% since the december 24th low. that's about matching the s&p 500's gain since then. companies like etsy, dillard's, best buy, macy's, they lead the price dpgainers. many of these retailers are returning money to shareholders. home depot, best buy, tjx increased their payout and best buy is one of those corporations i call buyback monsters these are companies that have lowered their shares outstanding more than 25% since 2010 in best buy's case they have gone from 418 million to 269 million shares from 2010 to today. that's a share count reduction of 36% today's $3 bill buyback announcement will reduce it another 3% what this means is all other things being equal, best buy's earnings or 36% higher than 2010

with no change in the fundamentals, just fewer shares. but the recent gains doesn't really mean retail is back in a big way that we've seen. so there's very clear winners here and very clear losers in this ongoing battle with amazon. discounters like wall matt, tjx, ross stores, target and the dollar stores will be survivors as will the home improvement companies like home depot and lowe's costco and best buy also appear to be survivors. but department stores and specialty apparel stores like l brands, they're still under tremendous pressure and they are still ceding share to online players and off-price stores back to you, melissa. >> let's trade some of these names. i'll go to the option monster. >> oh, pete. that's you >> i talk about that whenever i'm doing a power pitch, fast pitch, power pitch one of the things i always like to look at, is this something they have been doing a long time or something they're trying to

do for financial engineering that's why i look back at the last decade or so. the interesting thing about retail right now, those that are having success, they have success because they're doing it online, whether it's best buy or target or walmart. go across the board. and they have great cash flow. i started the show tonight with cash flow being a really big deal look at the cash flows versus the market cap of a target or a walmart or some of these names it's unbelievable. best buy, you can see all of the stock that they're buying back, most of that is coming just from the cash flows that they have got. so that and raising dividends, there's a lot of different areas of retail right now but you've got to execute lowe's is on their way lowe's is one of those i gave up on it was just home depot and lowe's in the background i think lowe's with this new ceo, ellison, is doing an outstanding job positioning themselves better and better against home depot. >> all these to me, so far superior to anything else in big

box or in broad lines, staples, you name it. food retailers are a mess. to me the margins are really poor, to put it lightly. i think that's where you want to stay in these names. a big move in best buy, stock is not expensive. >> what do lowe's results tell you about home depot >> they're catching up if you look at the year-over-year change, they're catching up to home depot. if you looked at the initial reaction of lowe', it was actually lower and then it reversed so i think the market is saying it's catching up quickly about l brands, people will say it's cheap, gross margins continue to decline. this guide for full year is a disaster they guided to 220 to 270. it's probably going to come in at the lower end of guidance you have negative eps growth that coupled with the fact that it's so bad we don't even pay the gratuitous victoria's secret

footage anymore. >> exactly. >> because people don't buy it apparently. >> we're not talking about it. >> pete likes the bath & body works part of the business. >> absolutely i do. >> that scented candle >> the what? >> you don't even know it's part of the business. >> what, the mango wash? i love a good mango wash. >> you could use one. >> like rossi needs a razor. jack dorsey is speaking on the company conference call. we will hear from him in just a few minutes. plus pete bringing the heat getting ready to pitch one stock that's about to soar will the other traders get onboard? yes, that's a hint all that when "fast money" returns. from pl.. to full-blown production. ♪ ♪ let's go from being on-call... ♪ ♪ to being on-line.

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welcome back there is one stock that's in the correction territory, down 10% from its highs, but pete thinks the name is about to take off. pete will give us his fast pitch. pete. >> we talk about the airlines all the time tim is a fan of this one so i think i've got him in my back pocket warren buffett owns 8% of united airlines that's pretty significant. he made a huge investment and

he's already up almost 50% from the initial investment i think the ceo has done a great job of execution he needed to do some cost cutting and some absolute looking at the efficiencies of the airline. i think they have done a great job there. then when i look at this company trading at eight times, that's really pretty amazing. these guys are a serial buyback. they have bought back 27% of their shares why? because they got incredible cash flows. that's another area of growth. i love what we're seeing right now. this is a stock that is off those highs, but more importantly when you're looking at different areas of growth, the earnings this past year were about $9 they're saying they'll be between $10 and $12. let's say it's $11 this is where the stock was, it seems to have bottomed but when i look at this chart it looks like a little bit of a creep to the upside i think this stock has a little bit more room depending on oil,

we've got to keep oil between 40 and 80, but depending on oil, if it stays in that range, i think this company gets back up and through $100 a share. >> pete, two questions >> two questions. >> the dollar, the dollar is where i'm at if dollar is correlated or inversely correlated to oil, if powell is super dovish, then that means a lower dollar, higher oil, which could mean that you have a headwind for your ual second question real quick, is this a cross the board you like this one the best? >> i think southwest is creating an opportunity and also hawaiian air, which doesn't get talked about nearly enough. oil, i think as long as its under 80, as long as it's under 80 to the upside, steve, i think we're okay over 80 we've got a problem.

>> pete, let me ask you six questions real quick can you talk about capacity, please we've been concerned about being restrained and running a tight ship. >> they have talked about expansion and i know you know that they talked about expanding some of it. right now when you look at that number that you bring up all the time this is a company that seems to be hitting it right. i think they're doing everything right from a price perspective this is one area where millenials not happy about pricing, because the pricing here is definitively higher than most millenials would like everything else seems to be in their favor. not the airlines >> all right, no more questions, time to vote are you buying pete's pitch on united, guy adami, what do you say? >> 11 times trailing, 7 times forward. friendly valuation i see what you did there. >> see what i did there? >> i see what you did there. so yes grasso. >> big buyer of pete, seller of aol. >> tim. >> check out pete wrestling the

airplane like godzilla, i'm voting yes margin expansion coming in 2019, i'm long >> did pete's pitch for united make you want to hop onpourboar? you can vote in our twitter poll while you're there, weigh in on what song we should play to reveal later in the show plus check out shares of square. that stockaseen h bon fire but is the run done? much more "fast money" still ahead. s. and i'll tell you some important things to know about medicare. first, it doesn't pay for everything. say this pizza... is your part b medical expenses. this much - about 80 percent... medicare will pay for. what's left... this slice here... well... you have to pay for that. and that's where an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company comes in. this type of plan helps pay some of what medicare doesn't.

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welcome back to "fast money. we've got an earnings alert on square it's getting slammed in the after hours. deidre bosa has more from san francisco. >> melissa, this stock is up more than 40% year to date so expectations were sky high the story here remains largely intact subscriptions and revenue grew by triple digits for a second straight quarter and the company continues to expand by going after traditional banking services jack dorsey on the call says the cash app continues to grow the ecosystem. >> i think the biggest driver is really going to be how the network is spreading and the effects that it has as a business as we add more utility and more

financial services, such as the card or instant deposit, atm, it just becomes a much, much more durable relationship. >> dorsey also mentioned that square card is one of the things that he is most excited about this year. it's a free business debit card that is connected to a merchant's square balance. shortly after he said, this a square merchant asked dorsey what other services are coming that will allow her to transition from her banking system completely over to the infrastructure that square is building square has applied for a banking license. there is no update but dorsey said they're still in discussions. it's one of the best parts of the call because you get a sense of how merchants are using the services you see them ask questions about the different services and

subscriptions that square is offering. >> all right, thank you, deidre bosa in san francisco. i feel like they're hand selected to showcase square's services square runs circles over the other payment stocks the stock is up 800% from its ipo. >> i'm in the stock. let's remember a couple of months ago it was trading at $50. this is a bargain. i think you'll see this stock back to 80 in short order. it's about services, it's not about payments it's about services and that's where the people get it wrong. >> so there's some concerns also that google will enter the fray and begin to consolidate direct and indirect, and this has also been knocking the stock around i'm long the stock as well i believe in the infrastructure, i believe in the payments, i believe in the entire ecosystem and the value added. it's hard for me to say value. the stock is very expensive. >> maybe google takes them out.

>> maybe. elsewhere in the world of jack dorsey, shares of twitter down about 8% in the past month getting ghosted by snap which is going paraballic it's up 50%. twitter's ceo reiterating a 20% expense increase here's would you rather. at a very critical moment in time where twitter says it's going to spending, spending, spend to grow, it's got a problem policing content and snap that gave you a good but muted idea of what growth is going to be like would you rather snap or twitter? >> i would rather twitter. consistent with where i've been all along so there's nothing new here i struggle with snap's ability to grow and the bar was so low in terms of their user metrics they're changing their user metrics, et cetera, et cetera. i realize twitter is not a sexy growth story, but i'm encouraged by the consistency and the

double-digit dau growth and the fact their ad revenues are growing north of 30%. >> i'm more on the ad growth side because i think they have slowed down to the point that they got what they have got. maybe they grow a little bit but it's about the advertising i think going into the presidential campaign the next year and a half, two years, they are in a great spot. meanwhile, i look at snap and say other than short covering, why is that stock even higher than it was? guy adami. >> he asked a question so in class you have to raise your hand pete picked me out i'll give you the answer to that question i think the missteps of facebook is one of the reasons snap has gone from 6 to 10 because facebook can obliterate them once phobia gets back on terra firma, i think it heads back to $6 a share. still ahead, will a massive payment put the company in a crunch. let's get a check on our

cramer cam he's talking to the gw pharma ceo after that stock soared yesterday. we are live in times square at the nasdaq much more "fast money" still ahead. you.

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welcome back tesla is just two days away from a nearly $1 billion debt deadline the electric car maker has the money but the bill could put them in a cash crunch. let's get to phil lebeau with the details. >> you bring up a good point tesla does have the money to make this payment for a convertible note that is due on friday $920 million by the way, that payment due friday, if they had shares of tesla over 359 a share, 359.87, they could have just issued stock to the convertible note holders. it's nowhere close to that so they'll have to come up with that money they had just under $3.7 billion in cash on hand at the end of the fourth quarter so they have plenty of liquidity. they have said or it's been speculated so to speak that there could be a cash burn in the first quarter. but tesla indicated in the last earnings report it expects to be

cash flow positive in the second, third and fourth quarter. they are also lowering their cap ex spending this year so they are mindful of their cash position as you take a look at shares of the tesla bonds, if you take a look at this, they have been pretty volatile over the last year elon musk tweeted early, early this morning, melissa, that there will be some tesla news tomorrow afternoon if you missed it, maybe it's because you didn't recognize that his twitter handle is elon tusk, not elon musk. >> i noticed that. he emphasized that today in another tweet where he had e.t. phone home, no answer. e.t. being i presume e.t. the creature in the movie or elon tusk so all this s.e.c. business hasn't crimped his twitter style at all. >> not at all. >> all right, phil

thank you. phil lebeau outlining the latest adventures of elon tusk. you know what's so ironic is that -- okay, so 359.87. that's the average price on a volume weighted basis for the 20 days, blah, blah, blah that's the price that it would have had to hit. if he stayed off twitter, he may have saved the company that much money in this convertible debt payments >> well, my view is that actually this whole s.e.c./twitter thing is a bit of -- it's nuanced but he's looking for the s.e.c. to be a scapegoat for reasons why they have a lot of liquidity issues but the s.e.c. is really ready to not let him do a raise. they can't do a raise right now anyway the question is do you believe they have $3.7 billion at the ending of the fourth quarter i think there's a lot of people that don't i think there was some window dressing in there. it implies they had about a billion in cash. there's rumors that they're not

paying suppliers, there's rumors of stuff like this i think it's a tighter squeeze than the market is letting onto. >> we had a spirited conversation last night, but we do every night. >> on tesla. >> on tesla. and i said, look, the opportunity for shorts to lay into that stock yesterday was right there in front of them. >> silver platter. >> and they didn't do it it closed higher on the day. for the first time in a long time, here's a long side opportunity. tesla is up 6% today with that said, i think there's further room to the upside i think the shorts have tried everything they can, unsuccessfully >> if elon, for instance, lays off for a while on the twitter -- >> he's laying off >> no, it doesn't. >> it looks like he's about to dig deeper. >> the question would be does he layoff and it goes higher? or does he continue tweeting >> you're not even talking about the fundamental issue which is the debt we are talking about she nan

dp - s shenanigans on twitter one company sees the slide accelerating in the near future. mike, what are you seeing? >> probably not surprising given all of the news that we did see double the average options volume today one of the them was a purchase of 290 puts in march that would be a bet that's going to fall below that strike by $5 that they paid i would also point out that a lot of this volume is basically betting that it is either going to be sharply higher or lower within the next 30 days. we saw a lot of buyers of the 320 calls expiring on march 29th annual the 280 puts of the same expiration this is basically looking for moves of 10% or so in either direction. >> all right, thanks for that, mike mike khouw in san francisco. for more options actiochk n ec

out the full show friday at 5:30 eastern time. up next, we've got the final trades what do you look for when you trade? i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪

(butcher) we both know you're not just looking for pork chops. you're searching for something more... ...red-blooded. right this way. you thirst for adrenaline, you hunger for raw power. well, you've come to the right place. the road is yours, dig in. welcome back we asked you on twitter to pick a new song to replace our

classic fast pitch tune, toni braxton, "unbreak my heart" and it is true, everybody hurt >> is that the song? >> yes, especially pete. that is a song you voted for on twitter even though you voted against pete's pitch. >> i've got to tell you something. you voted against me, it's going up $7. bp will be my final trade. >> wow, you self final traded. >> yes, self final traded. >> that's sweet. i love we've got rem as a theme song on any part of "fast money. by the way, united airlines. how about that one. >> you know a group that was thrown out last year was the cruise lines i went on a cruise line and it was exceptional. norwegian cruise line. >> you should just let this play the soundtrack of college. >> do you like this better >> 100%. rem should reunite

>> forget about michael. >> what's your final trade >> exxonmobil. it's going 82.50 his mama named him clay, i call him clay and that's 82.5 >> "mad rnlts hey, i'm cramer. welcome to mad money my job is to teach you to call me or tweet me what's keeping you up at