treatment of consumers and work to ensure that the bank is held fully accountable for its wrongdoing i think the target is likely to fall away as time passes. >> i'm all about fighting crony capitalism, but when politicians know better about who should lead your company, we've got to ask about that. >> and criminal activity is a step too far we've run out of time. apologies, "fast money" team >> it starts now have a good weekend. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. the dow surging today to ending the quarter, having its best start to the year since 2013 if you missed the party, don't worry. the chart master will tell you the one stock to buy to catch this rally. plus the worst performing sector so far this year. check out some of the losers the traders will tell you which

ones are beaten down buys. lyft making its public debut right here at the nasdaq let's go out to deidre bosa for all the details. >> hey, melissa, that's right. shares of lyft popping more than 8% on its debut. that's a good signal for the company and a good signal for the ipos to come of course this story is just getting started. remember, snap on its firs paumd nearly 50% and a few months later it was below the ipo price. groupon, another hyped-up tech name that was loss making and profitable it surged 30% in its debut and just a few weeks later it had lost all of those gains. now, the point is i don't want to be a debbie downer but the story is just getting started and there was a lot of excitement over these names, but they struggled after they became public companies there are still a lot of questions about lyft, such as its path to profitability and its dual class structure if

things do go sideways. this morning co-founder logan green telling andrew ross sorkin that its corporate governance will set them up for long-term growth. >> collectively, we really need to set the company up for this long-term opportunity and to create the type of durable growth we're going after >> now, uber, on the other hand, will go public with a one share, one vote structure we are anticipating that ipo as early as april so far we have one day to judge lyft it has been a good start that should bode well for uber, at least when it's trying to get its valuation. >> all right, thank you, deidre. despite the euphoria, the market remains in a vulnerable state. will the ipo parade reignite this rally a lot of questions i don't want to confuse you guys because you're prone to confusion when there's so many questions. but it's also worth noting that

lyft shares opened higher by 20% and finished the day higher by 8%. >> i was actually surprised. i was surprised that it closed below $80. i thought $80 was an interesting level for the syndicate to sort of step in i don't know how the whole ipo world works but i'm surprised it closed below 80. in terms of what it means for the broader market, we'll talk about larry kudlow obviously that had much more meaning. but the fact that people will be talking over the weekend about this lyft ipo. i think it's reinvigorated some of the retail interest jim cramer has talked about that as well. we can argue whether or not valuations make sense. i do think it's given renewed interest to the marketplace after a long time of not seeing deals of this magnitude. >> what is it it say about where we are in the tech trade if people are willing to reach for growth, reach for a company that doesn't make any money. >> reach for growth is exactly the right term here. you look at the qqq or some of the nasdaq stocks, that's where this idiosyncratic growth is

going in a low growth world. investors will go after names like this. they don't care if they make money necessarily, but if they have revenue growth, that's where they worry to guy's point, it's a sentiment boost. if this thing failed, broke the ipo price, that could have been negative for the market. sentimentwise, really positive for stocks. >> i think it's good for stocks and good for companies that do the offerings. that's great for the investment banking and equity desk of wall street but when it comes to lyft, i just -- i look at the numbers. i don't get it i mean i like the product, i look at the metrics going the right way. they went from losing 200% of revenue to 50% of revenue, which is an enormous leap. however, i mean i don't really get how -- something's got to give the revenue growth is great. the pricing of the product, they need to run it much more efficiently.

i don't know what it is. and it's going to get more competitive so i don't get it. >> to me i don't need to own lyft right here and now but i think this ipo is important not because i think it signals that there's a ton of unicorns on the sidelines, i just transportation as a service is a new investment doctrine, whatever we want to call this. lyft to me, this is not snap i'm not a lyft bull. i didn't try to buy the company, i didn't try to get into the ipo. but they're growing. they are growing they went from 20% market share to 40% market share. yeah, they're losing more money look at the addressable market here how about google with wamo and where the legacy mega cap players are already threats to these guys before they ever get out of the gates it's important to point out where transportation is a service is a new investable place in the same way social media was and this is not snap it's not.

>> when i go to google maps and type in guy adami's house -- >> are there statues out front, like marble? >> fountains large fountains. >> metal gates >> it already tells me how to get there and there's another piece to that part of the puzzle for transportation as a service for google with the deep pockets, with the wamo to get dt point last night you talk about valuation that does make sense, it is probably alphabet at these levels to tim's point, they have created a new asset class, but a new sector effectively and people wanting to to be in it the math clearly doesn't work. tim talked about addressable market i think it was $1.2 trillion even if it's $750 billion, the upside for lyft and uber is tremendous so yes, valuation is crazy here.

but the fact that analysts are talking about it, at a certain point this becomes a very compelling story. >> think about the people that have backed these two companies. i'll throw uber into the mix too. there's some of the biggest investors in the world lined up behind these two companies these companies raised more capital than anybody else in private equity history that tells you about where some of the guys in private equity believe about this market. >> that's good for them. uber and lyft have raised more venture capital money than any other company that has gfor tho. but what does it mean for joe -- >> that's a different issue. >> is there a short-term trade here or what's the long-term threat google, amazon, everybody drives the price to zero. in the short term you do have a

window that might be interesting. you have uber coming out in april. number two, may 15th you have the first earnings announcement from lyft. if you look at a lot of these past ipos, when the first earnings announcement that generally didn't mark the top but all of a sudden wall street came in and started to look at the metrics more thoroughly. so i think the next 30 days you have an interesting opportunity to buy lyft. >> the carpet here is from the lyft ipo it's not that we renovated or redecorated or chose this color. >> it's nice. >> speaking of guy's house, i would imagine your living room color. >> i was going to say this looks like your dorm room in college. >> nice laugh track. >> the tinge of sarcasm in the laugh track. a very busy day today. we want to talk about white house advisor larry kudlow on "power lunch" with a message to the fed. cut rates now. take a listen. >> first of all, when did you change or decide that a 50 basis point rate cut is appropriate

here >> well, look, i am echoing the president's view he's not been bashful about that view he would also like the fed to cease shrinking its balance sheet. i concur with that view. looking at some of the -- i mean the economy looks fundamentally quite healthy, we just don't want that threat there is no inflation out there, so i think the fed's actions were probably overdone let me make a point here this is our view, this is his view, this is my view. the federal reserve is an independent central bank, they're going to do what they're going to do. but somebody asked me and i responded to it. >> all right so what's interesting is that he later on when pressed said that this would be a protective measure, that the economy is actually fundamentally strong, but there is signs of slowdown around the world and that just to be sure, to make sure that this economic growth is not interrupted, he wants 50 basis points cut

does this add up >> no. i don't get it at all for so many reasons, right? if what he's saying is true, that the u.s. economy is doing great, and i believe the u.s. economy is in good shape if that is the case, then why do you need this protective 50 basis point -- which is a big -- that is a big move in this market, a very big move. why do you need that now, right? it makes no sense to me. don't you want to have some protection for when you don't have a good market, when the economy is slower? you want to have something left. i don't really get that at all let's goose the economy as much as we possibly can until november of2020 and then who cares, just get re-elected, do whatever it takes, don't worry about deficits, don't worry about -- i don't get it at all. >> as a cryptobitcoin investor, i couldn't have asked for better news so i'm a bit mixed because i think it's the wrong move economically we don't need a 50 basis point

rate cut what we need is a steeper yield curve. the fed to effectuate that but in terms of where the economy is, i think if monday morning they came out and cut rates by 50 basis points, i think oouyou'd have a panic in market wait a second, maybe the economy is weaker than expected. >> or what is the federal reserve's role i'm sorry, but larry is wrong in this we got within a range and the fed has a mandate on growth, they have a mandate on inflation. they don't have a mandate on being tactical or preempting a downward move. they also, by the way, now suddenly are so worried about the rest of the world that actually our policy is going to come under, i think, undue influence from the rest of the world. china has some issues. china has been slowing, the rest of the world has been slowing, but it's not a case where we see u.s. gdp falling off the map

look, let's face this. this is a political statement. this is a place where we're getting into an election season and we all know elections have been won and lost based on the economy. you can say hey, look, should we have cut taxes a year ago? i'm not sure that we needed that tax cut a year ago by the way, wouldn't it be great to be cutting taxes now possibly wouldn't that have been a better opportunity? i have to say i'm disheartened by these kinds of comments coming out of larry kudlow because i think larry knows better. >> i thdon't want to make a mountain out of a molehill but session highs on the back of those comments. >> quarter end, larry trots out, which is great we say larry because we all know him for many years, we're not trying to be disrespectful, number one number two, it's america first i get it i'll play the game but america first are the citizens first 73% of this economy is driven by us buying things if the u.s. dollar gets

stronger, that's great for all of us. the fed in a global weakening environment in my opinion has an opportunity to strengthen the united states by raising rates as counterintuitive as that might sound. it makes our dollar much stronger, our buying power much better it might hurt the stock market, but the stock market is not the economy. the fact that they keep parading out here trying to prop up the market to me is a real problem. >> you mentioned the yield curve and it should help cutting 50 basis points but do you think that would be isolated to the shorter end of the yield curve? that was my question to larry also >> exactly i think if you cut the short end, the whole yield curve will shift lower. they'd be better off, if they want lower rates on theshort end, they'd be better off selling their 10-year and 30-year positions and buying 2-year and under it's a reverse operation twist or r.o.t

but you do a r.o.t. type of thing. that would steepen the yield curve, get your lower rates on the short ending that's what i would do. >> we saw the short ending down. stephen moore was out there two days ago. coming up, stocks having their best quarter in a decade but health care is hanging out the traders will tell you which of the biggest losers of beaten down buys. wells fargo initially jumping after tim sloan said he was stepping down. but the stock is falli tngoday much more "fast money" right after this

welcome back to "fast money. health care is flat lining this year the group is the worst performing sector in 2019. this after it was the best performing sector in 2018. check out some of the sickest stocks p biogen the biggest loser we thought this would be the perfect time to play one of america's favorite games, trade it or fade it. all right. i think we understand the rules by now it's been a while. so guy, we're going straight to you. >> love this game. >> biogen down 21% trade it or fade it. >> trade it means i want to buy

it, right? i'm just making sure, melissa. trade it, mel! >> very good, guy. >> what are you, nuts? that alzheimer's thing, that was huge for them and, yes, it was huge for them. but i said it a couple of weeks ago when it happened alzheimer's is the holy grail f these biotech and pharmaceutical companies. okay, they missed. they just announced a $5 billion stock repurchase plan, valuation is ridiculous. you had huge volume, i think it traded close to 22 million shares which is nuts for biogen. they might by in the crosshairs for an acquire >> guy, i hate to push back on you when your tie is the same color as the carpet, but biogen even with the great balance sheets and ability to buy back done largely nothing biogen has outperformed with those that have one or two drugs in the pipeline. if anything, this puts more pressure on them to do a deal. as much as i like the sector,

frankly i'm getting tired of this routine i don't see a lot there. >> i think it's dead money i think it's dead money for a while. i would fade it. i think you fade it, you leave it alone you let it wilt on the vine. if you want to be in the biotech sector, maybe go to the nasdaq biotech etf because those are the ones that are going to be acquired >> all right next up, tim, cvs down 17% trade it or fade it? >> i'm going to trade this one this has been a very sick stock. it's been sick ever since they acquired aetna and it looks like they were going to have a new blueprint how you put pharmacy and health care together the wellcare deal directly competes and it's a contract that actually probably could not get renewed for cvs. i don't think it's that big of a deal i think it's a low margins contract for them. i think people have priced a lot of bad news in there and this is a company that has a lot of cost savings and they're going after

the assisted care business which is probably the place a lot of these guys want to be. i kind of want to own this one here, trade it. >> because it's so bad, it's good maybe there could be a bounce. i'm just so afraid of the pbm business maybe it bounces, it's cheap, it's a well run company but i really don't want to have that exposure to pbms. >> didn't i. >> it's been grim death since the summer of 2015 it's been -- right if you look, it's been straight down i don't know what's going to change but if tim wants to trade it, by the rules, be my guest he's not going to trade my biogen i'm not going to trade his cvs. there. >> it was the tie comment, wasn't it. this one is for cigna. trade it or fade it? >> it's similar to the cvs story. that's a pbm i'm really afraid of that business i mean i also, with all the talk of obamacare being repealed or not, i think at the end of the day it will not be repealed, so

all of these may bounce. but it will just be a bounce on that. >> trading or fading >> i'm fading. >> i'm with you. i'm with you, chairwoman i think you fade this. the pharmacy benefit manager exposure is a problem. it is in the crosshairs. if you talk about who's the evil one raising drugprices, it's the pharmacy benefit managers in the eyes of the politicians. i just don't want to be anywhere near it. you fade it. >> bristol-myers squibb down 8% this year. this is for beakers. trade it or fade it? >> i'm going to fade this one. we got some decent news today, they were able to get some of the activists out of there everybody agreed on one thing. but the stock went nowhere, right? like every other name in the sector, it looks horrible. they're wilting on the vine. that's not something b.k. wants to buy. >> he's like the dan nathan of friday night. >> oscar the grouch. >> salty brian.

>> salty b.k for more on the health care trade and what is next for the stocks go to trading nation.cnbc.com. you're watching "fast money" on cnbc, first in business worldwide. here's what else is coming up on "fast. >> get in, loser, we're going shopping. >> not so fast one trader says stay out of the mall he'll explain why he thinks retail could be the next trade to crack. plus -- ♪ celebrate good times, come on ♪ >> stocks having their best quarter in a decade. the traders will tell you how to cash in on your winning trades there's much more "fast money" there's much more "fast money" right after this who can grow with you. cfa charterholders have the investment expertise to unlock opportunities other advisors might not see. learn what a cfa charterholdr can do for you

at therightquestion.org at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge intelligence.es on and on.

that's the power of &. & when this happens you'll know how to quickly react... welcome back to "fast

money. time for wbuzzkill wells fargo shares dropping after tim sloan announced he was stepping down as ceo the stock fell today even as the rest of the market rallied, ending lower 2%. is this a bad sign, guy? >> yeah. we talked about it last night. you were here and we said it's ridiculous that the stock rallied, sell it we talked about tangible book being $32. wells trades at 1.6ish wells ain't no jpmorgan. yet tim sloan stepped down after "the new york post" runs an article about there's an open casting call for his job so let's just all put it out there now. the problems at wells are severe and it takes more than just him stepping down for the stock to rally. >> it's not a bad sign for wells fargo or the banking sector. it's just retraced a move that was probably an aberration of some kind. banks have underperformed the

s&p by 5.5%. let's get back to the yield curve. i think yields are overdone here i do think that banks are overdone here relative to the s&p. >> karen >> i'm surprised they actually chose him in the first place after he was embedded or seemed to be. >> part of the culture, 30-year veteran. >> so that was surprising to me. he really did seem to have a chance to clean house, to bring everything --he could have don it all not on sort of his dime if he announced all kinds of problems so i'm surprised, but i'm more afraid of who they pick off to run it and i home it's not marianne lake. >> because that would be bad for jpm. >> time for the final trade, tim. >> look at that chart at b of a. i like it here. >> b.k. >> if you're going to torch the dollar, you might want to look at something like xme, metals and mining. >> karen. >> all that having been said about banks, i'd rather go with

jpmorgan right here. >> guy. >> the only thing mr. kudlow didn't have is a blow torch to the u.s. dollar. newmont mining. >> see you back here monday at 5:00 don't move, "options action" starts right after this break. ♪ you e mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis.

hey there, we're live at the nasdaq after a very big day for the markets. the guys are getting ready behind me. while they're doing that, here's what's coming up >> stocks just closed out a blowout quarter, but if you missed the rally, there's one name to play catch up. plus -- >> you have no style or sense of fashion. >> that's what dan nathan is saying about retail stocks right now. and it could be about to get ugly for the group he'll lay out the trade. and -- >> what's ther