criston ailman the cio of the largest teachers folk cused peno fund tune in >> looking forward to that brian, it was great to sit with you today and with you as well, mike san tolly >> that will do it for "closing bell". >> "fast money" begins right now. fast money overlooking new york city's times square tim seymour, brian kelly, mike tefor and guy adami. wall street believes in the disney magic and the stock getting a slew of positive coverage ahead of the streaming service. is the stock heading for a big breakout the traders weigh in plus check out shares of lyft and the ipo falling 10% today alone hitting its lowest levels as it approaches 60 bucks a share. we'll tell you what it means for uber as that stock gears up to go public itself we start with the ceos surviving

a grilling on the hill as they gear up for earnings in the end of the week. j.p. morgan is the worst performing of the big banks up only 8%. citigroup, goldman sachs, morgan stanley all up double digits and the sector has been mostly dead money for the last year and will this quarter's earnings be the catalyst to set the financials on fire. >> the answer to the question is yes, i just don't see it happening. for the life of me i don't understand how you get the re-acceleration in earnings from the banks and they'll be off to the races. earnings have been fine and j.p. morgan's earnings have been very good and when you get toward 1.8 times price in terms of a j.p. morgan i say maybe it's just a tad ahead of itself. why is city bank trading effectively tangible and why is deutsche bank in europe despite the whole commerce bank thing continue to go down? i still think the banking woes in europe at a certain point manifest themselves here >> you have another reason, guy,

to really be angry with the fed. it's negative interest rates that i think are killing the global central banks it's certainly killing the european banks, and look, for somebody that's been constructive i'm long j.p. morgan and i'm long bank of america and i can be long with those valuations with a capital deployment approach that is now investor friendly with a balance sheet that's fantastic and with a business model that's conservative and not reckless, but is there going to be anything in this quarter's numbers and we'll see a downward tick in terms of the net interest margins and a downward tick in mortgage originations and nonetheless, j.p. morgan continues to print record profits. record profits >> you brought up a good point that there's nothing about the banks and they're the safety type of thing and utilities and that's effectively what they've become is utilities and they should trade at one times book and if you are looking at trading at one times book and it's a j.p. morgan and citibank might be below that.

so that's probably why it's up more than the others and one of the leaders this year. the only thing in my view that is going to change this if you get a steeper yield curve and that can happen one of two ways. the economy accelerates which it doesn't look like it's necessarily going to do or the fed decides to steepen the yield curve by with their balance sheet. so to me, that's the bet you're making if you're buying bets right now. >> there is nothing that excites me about the banks right now it's really, really difficult for them to make money with either a flat or inverted yield curve. we do own j.p. morgan. i think j.p. morgan's best of breed and their roe is head and shoulders above the rest of the peers and you get revenue diversification from them in the aum ref aum revenues >> i was talking to mike mayo. >> for the first time he said he's bullish all five banks that he covers. >> i thought mike -- who has been very negative, by the way let's be clear he's been bullish for the last couple of years. >> for a while, and i said you

can make the same argument over and over again, quarter after quarter in terms of the strength of the balance street and the growth of the economy and the u.s., et cetera, but what is the catalyst to get these stocks moving higher? and he said interestingly, every few years all they have to do is not mess up and there will be a re-rating of the bank shares >> have they not messed up for the last couple of years. >> goldman sachs, absolutely messed up over the -- >> with the imdb. >> you could make the argument that wells fargo, all they've been doing for the last few years is messing up. >> although they're trading at a premium. >> and they are. >> i take my statement back. >> now that i think about it, those are two posterchildren for mess ups, but i do think in referencing when brian said about the banks kind of slow and steady like utilities and by the way, they're at all-time highs and you can make an argument

that they should be keeping pace and they're involved in transactions and collecting fees and that predictability even with a lot of disruption and maybe that's it. at the end of the day every industry is getting disrupted and you can make an argument that all of the things disrupting financials they're as poorly positioned as everybody. >> why not just grab some of the preferreds and at least you know you will collect that dividend so i think there's potentially some opportunity with the preferreds. >> so if you think that banks are being disrupted, do you go to the flip side of which stocks are disrupting the banks >> critical currency. >> for sure. >> you know i'mgoing to go wit bitcoin on that. >> who is right to be disrupted by cryptocurrency, it's the bank so eventually that will be a problem. >> that's not a paris trade. some people are advocating and put that on and shorting the banks and long bitcoin

b.k. would not advise that and be long bitcoin. >> the question i should ask and the question we're sort of asking is would the bank set the tone for the rest of the earnings season. >> i'm glad that you asked the question. >> fantastic an excellent question to ask >> think the answer is probably no >> think j.p. morgan's earnings will be outstanding and goldman sachs' earnings will probably be middle of the road and who we've seen historically j.p. morgan trading higher and goldman sachs trading higher and it will be the norm with that said, in terms of earnings season across the board. we've had the conversation and i do think we're in the brink of an earnings recession. i think people were setting themselves up for a lot of disappointment as we go through the next couple of weeks >> i don't think the bank has set the tone for years. >> i would be shocked. >> and the drills would do awe better job of doing that and it's got the squares as it relates to the market. >> correlation. >> what i will say about the banks is what we've seen in the

last two quarters, two to three quarters, the banks come out of the gate and beaten in some cases by a significant amount. shares don't do anything, in fact, they kind of disappoint and hold on to a rally the banks have rallied two weeks and three weeks into earnings season as the rest of the earnings have largely been very beneficial to their cause. so is that going to happen it doesn't sound like there's a lot of optimism, but i would go back to market positioning and the thing that bothers me is going into the earnings season and bull, bear spreads and whatever you want to look at sentiment is very, very bullish, and that's for the market overall. i don't think sentiment going into earnings is bullish in terms of what you will hear and in terms of guidance for the second quarter and the rest of the year because of that i still think there could be a risk for upside responses for a lot of these companies. >> what sectors will be the tale for you? >> for me, you would have to go for the industrials and the banks, you can trade them and

trade them on a breakout, knock yourself out what both tech and stills together do for this earnings season at these levels to me the markets are riskier the heier we go >> we have loose mochy and at some point fundamentals do matter >> there is an argument that's being made that people in general are underweight the markets. >> i feel that's one of those sectors that people point to and say value, value, value and the bull case was the case they were making a year ago. what's happened since then >> i think it's hard to be underweight banks each though it's easy to say what will be the catalyst in banks. my sense is people are generally equal weight in banks because banks have been running a steady course of giving earnings and giving guidance and 2% 3% dividends which in the last four years is a building dividend base and why i think a lot of

people own the banks just to be in them. >> maxine waters >> great interview with wilfried frost. >> i very fiery and i bring her up and alexandra ocasio-cortez and has the environment at all even on the margins changed for banks? if we had believed that deregulation was the wind at the back of the banks, could incrementally be some tougher time ahead >> is there an exist earn risk with the banks now that there are new sheriffs in town and dragging them off capitol hill for seven hours at a time. >> i don't think the rhetoric will get better. i think it will get worse and that could be an absolute headwind for banks that we haven't talked about, but we should start talking about >> especially because the opposite is really what happened, right? on the election you had the triple clean sweep across the board and although nothing

really happened for barks and they continued through the stress test, but the bull's-eye in the bank was removed and it's a fair point, melissa, and thery a lot of people that speshgly the beg banks didn't just make do, and a lot of these are different ceos and it doesn't mean that the banks themselves aren't considered villains. >> squawk box's joe kernen sat down with a rare and exclusive interview with mike pence earlier today. he called for the fed to help stimulate the economy. >> there is no evidence of inflation in this economy. >> so it's inflation >> we really do believe that what the president was saying was the quantitative tightening has want been the right approach he's spoken out against the policies of the fed over the last two years. >> i missed that >> like many presidents have before him this is a president that really does believe that this economy's only starting to grow.

i mean, you look at nations around the world, nations that we compete with every day, and the president really does believe that 3% is a starting point in this economy. >> you can watch joe's exclusive interview with the vice president tomorrow on "squawk box" starting at 6:00 a.m. our next guest says she doesn't see the fed cutting rates any time soon. let's bring in rebecca patterson. welcome to you. >> thank you. >> that's a good thing and a constructive environment for e quites >> with the unemployment rate at 8.3%, inflation i don't necessarily agree with the vice president's comment that it's not non-existent it's just under 2% and we're seeing wages rising, and it is modest, but it isn't nonnf existent with that combination of factors i can't feel the fed feeling any need to cut their rates soon they're still looking at risk,

both ways, if we get's trade deal and better global growth into the middle of this year we could raise rates, and if if we saw oil and other factors lifting inflation to 2.8 not if.four, when you look at the performances, does it concern you that a couple of aer is sent is at all-time high and we have the russ knell negative territory and how do you read the market tea leaves? >> i've been struck in taking the market and putting it on an economic lens by the disparity by international versus dommestic and if you look at how the markets are performing that's reflective there, too the u.s. economy is doing well in term of the consumer.

we have low unemployment rate and high savings rates and the manufacturing side globally it's collapsed the u.s. is being pulled down by that and part of that is china and part of that is the trade war so as we talk about earnings season that's all going to come through and a lot of diversification in terms of earnings guidance we get and that that's reflected in the mark, too. you have the american consumer, jen they're going to be a company, or trade, god help them right now. until we get a trade resolution which i'm not sure we do opinion how about the other trade out there, the european trade war. how does that fit into your equity decisions >> the u.s.-china one we will get a deal everyone here will agree we'll get some sort of deal and how it's enforced what the details are, does it make people feel

good or not? do they lift the tariffs or not? the next thing for washington is autos and there's a lot of angst towards germany right now in particular and they want germany to import more lng and they don't want germany to use huawei they want germany to lower tariffs on autos and germany is pushing back fairly hard on some of this stuff and the fact that we could threaten auto tariffs is very likely do we actually go ahead with tariffs and not really a lot of support in america for it, but that doesn't mean the rhetoric won't be there and that rhetoric a lobe could be a reason that european equity sentiment stays capped even though the valuations are relatively attractive >> so back to the fed, the last i checked analysts are pricing in a 60% probability of a rate cut. >> yep >> by january of next year what's your fake on that >> so i think there is so much priced in here that the risk is skewed the other way if we don't see a rise in inflation the fed is on hold,

but why on earth would the federal reserve cut rates with unemployment rate at 3.8%. so what makes me a little nervous, maybe not today, but over the course of the year is that equities are getting support on the fed hopes if they don't come to pruition and tfru that a cap on multiples or certain types of sectors in the stock market and i think it is. we still have a lot of equity exposure in our portfolio, but we're using pockets of strength to incrementally take money off the table. we did a little bit of that in mid-february and if i see another run-up on a trade deal, for example, with china i'm going to keep saying thank you very much and just take a little bit up because we think growth will slow pretty materially as fiscal becomes a drag on the united states. maybe china's stable i think europe continues to face a lot of headwinds even though the european central bank is fighting back. >> i mean, because you're basically saying you want to take some off the table, but

right now this is the best place to be at this point. >> well, it's definitely not credit the preferred point which is a good one and one thing the bank ceos when they're asked what scares you they all mentioned cyber and leveraged loans and corporate credit we saw leveraged loans of $700 billion just in one year, globally and you've got the less liquid trading market compared to the last economic cycle and a lot of the stuff packed and sold to asian retail investors, when the economy slows more, you're going to see a lot of people wanting to get out of the stuff ahead of a downgrade cycle and a lot of this is issued by shadow banks that aren't as regulated so there is a real reason for these bank ceos to worry about that >> how big of a risk is that in your view? >> i don't think it causes a recession. i think it will exacerbate the

equity sell-off when we get there. when people see their credit holdings losing money. they want to offset those losses by taking profits off stocks the two are increasingly correlated >> you're underweight banks and what are you overweight? >> our biggest overweight has been and continues to be tech. not a big surprise there and it's served us well in the last few years and we're being mindful of which companies we have exposure to, but we're very comfortable in the space looking at the political issues around tech and what's priced in, but for the moment we're comfortable in that position >> rerebecca, thank you. >> thanks for having me. >> guy adami, what do you have to say >> the mike pence thing is interesting. quant tate of easing is the measure putting in if this is the greatest economy in the history? that's madness mike pence saying there's no inflation, i don't know where he's living, but gas prices have risen substantially over the

last couple of weeks and healthcare is ridiculous and education cover thes are through the roof we have inflation in all of the wrong places i don't really care what the fed says inflation is and we live day to day and you know it's there. a lot of crazy talk going on out there. with that said if the market thinks the fed has their back it will continue to grind higher. >> she talked about credit, rebecca, that is she and we're talking about the u.s. leverage loan index and measures stress and funding and it's just not there. in fact, i think right now you have a sweet spot in that you have rates going lower with gdp that is flat to sideways it does not mean that there isn't droutrouble ahead and deb gdp. it's something to watch, but if you're playing tactical markets right now, credit is not your enemy. >> still ahead, do you believe in magic wall street does when it comes to disney's stock. we'll tell you what has the street so excited about the future of the house house. plus, check out shares of lyft sinking today hitting its lowest

level since going public and we'll tell you what that means for uber as it gears up for its debut and we're making "fast money" history and mike tepper will step up to the take to give us his ft aspitch ever much more "fast money" right after this 300 miles an hour,

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welcome back to "fast money. wall street feeling the disney magic, the firm jobbing the likes of cowan, goldman sachs, rosenblat all putting out bullish notes ahead of disney ahead of the big investor day when the media giant will launch its new streaming service sending the stock up more than 8% in just the past two weeks. so is the stock about to stream even higher? the cowan note struck me because the analyst basically said this would be a debt clearing when it comes to sentiment surrounding the fox acquisition and what would it mean for the dilution of the brand and the cost, et cetera, but here we are. now product reset. >> think about where we were a year and a half ago and that was probably the low of sentiment when we started to understand about what was about cutting the cord and hard to believe it took us that long to figure it out and the cable business was

flailing look, all they've done is had their studio continue to mint money. theme parks and consumer products and oh, and by the way, espn has come storming backand guess what they are going to compete on streaming and the question is what's the multiple here disney used to trade at a major premium to the sector and the entire sector was downgraded at around 18 times forward. i think it's still got a little room to the upside and i have to say i'm long the stock and it's overbought and i don't think you need to buy it program. >> two years ago the stock is approximately where it is today. so what do you make of the stock. >> i like the stock, but my concern right now is around their content strategy i've heard so many people talk about how great their content library is, and i get it, but we're talking about selling subscriptions to disney plus, and i can't see people paying for subscriptions to watch snow white and aladdin over and over and over again >> do you have children? >> i do.

>> do you not see that >> that would be self-inflicted pain for parent, i guess >> listen, the point that you mentioned that two years ago disney was trading around these levels and for two years it's traded between 100 and 120 you need some sort of catalyst to bust it out of the range. i think this might be it, we've had this massive run up from 108 up to 117. so to me, i'm a seller of disney against 120 here i'll wait for it to prove it to me and break through, but once it breaks through, i think you've got a lot of room on this thing to run it's just trading tactically want a great time to get in and not good positioning, but in the long run, i think disney does quite well on this news. >> mel, you look like you're up to something >> i'm not up to anything. >> i feel like a game was coming i'm just having a good time here, and i was thinking, let's flip it around, the disney to other players such as a netflix.

>> i watched tv all day and you were up at 6:00 a.m. >> you really did watch all day. >> you made a great point, and the same point you made to mark that the stock was basically two years ago it's where it is now and it's vacillated in between, excellent point by you tim's point about espn, you know, when they legalized gambling that was the saving grace for espn recall the stock was trading at 99 or so that night and we talked about it and the stock is up 18% since so maybe that's somewhat priced in and just because they'll compete with netflix doesn't mean they'll beat him, right? we'll compete in the spelling bee and i can try, but i won't succeed and the same way disney will try and they won't succeed. >> for more on wall street and what's expected from disney go to cnbc.com. i'm melissa lee. you're watching "fast money" on cnbc, first in mono worldwide. >> the cryptocurrency is in the midst of the a stealth rally up

35% this month and back above $5,000 we'll tell you what's behind the move plus, mark tepper is making his debut at the plate he says one under the radar stock that's surging is about to rev up, and yes, that's a hint he'll give us his fast pitch, h there's much more "fast money" right after this quick break every day, visionaries are creating the future. so, every day,

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record highs means every record stock is in the green so far this year in 2019. yes, we know that it's easy to post a 12% year-to-date gain when you fall by as much as you do in the fourth quarter, but what may be surprising to some traders and investors is that it's technology that's leading the way higher in the dow and that's because it's the dow. we're talking about the biggest big-cap names in the business. the three best year to date performers in the index, cisco systems up around 28%. apple, up around 27% and ibm is up around 26%, as well if you expand it out further to the top ten names you will find that both intel and microsoft are in there, gaining around 18% a piece. so old world tech is ruling the roost for now. as for what's lagging. it's health care names like johnson & johnson which is up only 5% and pfizer is down 2% year to date that techtrade, melissa, may be the relatively safe way to get cyclical exposure, but doing it

through stocks is relatively less risky and we'll see if the trend continues over the first of the year. >> thank you, dom chu in the newsroom of course, this is the perfect time to play a little round of "trade it or fade it." >> the legacy tech edition and i think we know how the rules work by now >> we'll kick it off with tim. >> cisco up 28%, tim, trade it or fade it >> feeling confident i'll trade cisco it's a stock i'm long and in mega tech land is the best combination of certainly valuation, possibly earnings growth, but think about where these guys have gone and they went to proprietary hardware to proprietary software and they have cyber security and end to end solution on networks i love this company and this is a name, i stay there and i'm trading it again and the chart looks fantastic. the technicals and if you look at five-year highs and one-year highs. you know what happens at

five-year highs? everybody is happy and everybody has a profit this one, as long as the market keeps running, cisco looks like it wants to keep running with it >> sorry, guys i have to fade this one. it's seen quite the run up in price and there's not enough growth at this stage of the guy. >> guy, why don't you weigh in i'm not breaking the tie so i can only create a tie. >> i never said you were breaking any tie. >> glad you say that >> my grandmother used to say, little guy -- little guy, because i was a little person. slow ask steady wins the race and the valuation is reasonable and they've made a transition. so cisco was fine here and it t continues to grind higher. >> i forgot when we were doing. >> and the rules >> a different game. mark 10er tepper is up next. >> fade it over the last three years they

haven't grown at all and they're not executing well on their internal initiative and i don't know how they will execute on their acquisitions and again, they're not growing so i would be avoiding this one. >> maybe this could be a value play >> it could be a value trap, too, melissa ibm to me, despite the fact that it's an interesting valuation, they've seemed to begun turning this titanic it's not the titanic, but it's certainly nothing to get excited about in terms of earnings growth or positioning, frankly at one point it was a bitcoin play and i don't know what's going on >> anymore >> no, they have a block chain division they make an awful lot of announcements and again, it's the growth to go back to the titanic and it trades like it has an anchor around it and it just doesn't trade well and i'm a fader. >> i'll play the game correctly and i'll say trade it although i'm not predisposed to ibm and it's sort of -- it's changed your stock >> it's in your head and it's

been mulling around in my head and we used to have the power pitch and we power pitched the red hat and what did ibm go and do they bought red hat. remember that whole thing? maybe that was their hail mary and maybe they overpaid through the nose and maybe that gets them through the 21st century and just so they say i'll trade it >> just for kicks. >> got it. apple, trade it or fade it b.k. >> b.k. is going to fade it here i'm not -- i'm a fader, not a hater. the thing about apple here is i'm going to take more of a war ebb buffe ren buffett approach and a lot has been priced in here and they've got a lot of hype into this so i would wait for apple to come back probable tote 150 level before i were to trade it so here i'm fading it. >> tepper? >> i would trade i'm going with trade it here i think they've done an awesome

job transitioning from selling units to offering services, and you know, we haven't seen sentiment on this stock so negative in quite a long time. this is typically a consensus buy. right now it's about 50/50 as it's hitting new high, once the street flips, the stock's going to pop. >> all right from old school tech to one of the new kids on the block. shares of lyft major because kill since the stock has fallen to its lowest level since going public in march to $ 60 a share after the dean appeared on this very show and sat over there and said the stock is overvalued and should be trading at $59 a share. good call. >> my estimate and i'm bending every single rule to breaking point is i get to 15 or 16 billion. you have a that lost a billion and hasn't figured out how to make money yet and it's broken across the board in ride sharing. >> plus we found out today that

uber's valuation will be about $100 billion and that's $20 billion less than what had been expected and is this bust the ipo boom turning into a bust at this point >> i think what this is really about is this is lyft versus uber i think the valuations were the same i'd rather own uber. >> really? what you saw happen is lift priced at the high end of the valuation range and uber is pricing at the lower end, and i think investors at this point are saying, you know what? i'm just going to pull my chips off the table and i'll see what i can get with uber. >> guy, i know you weren't here yet to listen to the professor's full interview and his point is that he prefers lyft over uber because lyft is a focused business and he knows the geography and the business which is all ride sharing whereas uber is spread out and it's got businesses like meal deliveries and autonomous and all sort of other things and that's why he would prefer lyft. >> and i would have that question to you.

would you rather with a publicly traded company and a private company. >> it's not apples to apple, but if you had to choose one that you would be more favorable about in the next year, what would you say? >> my sense is probably uber and the reasons why the professor liked lift ahead of uber, that's why i would flip it back and say that's why i like uber and that's why it's more diversified. in order to believe lyft you have to believe in the next ten to 15 years we're not driving cars anymore and we're not buying cars anymore. i don't believe that will happen and if i don't believe it i won't buy the stake. >> trade it here at these levels. >> still ahead, bitcoin in full bloom soaring more than 30% in april alone. we'll tell you what has the crypto world spreading spring fever and mark stepping up to make his for viffirst fast pitch whatto h sckas this rookie so

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and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program call or visit >> welcome back to "fast money." autoparts retailer are on a tear with autozone, monroe, o'reilly all at double digits trading near or at their all-time highs and one of these is about to kick into overdrive and that's according to the fast pitch young gun, mark tepper is stepping up for his very first fast pitch what's the pitch, mark >> i like o'reilly automotive for a few reasons. number one, the auto industry landscape is pretty brutal right

now which is favorable for o'reilly so new vehicle sales peaked in 2016 they've been on the decline ever since. we've recently seen that 90-day delinquencies are now hitting an all-time high which means people are struggling to pay for these new vehicles and right now the auto fleet is the oldest it's been in history. what does all this mean? it means that consumers are going to opt to fix their current vehicles rather than purchase new vehicles. second thing, the amazon and electric vehicle threats, quite frankly, are overdone. so everyone thought that amazon was going to come in and crush all these brick and mortar retailers and that's really not the case with the autoparts retailers because if you think about it, if you're driving down the street it's raining and you need a new windshield wiper you'll stop and buy one and you'll buy it from amazon to have it delivered the next day and as far as electric vehicles go, yes, we are seeing growth in electric vehicle, but it's still

only 2% of sales and then when auto sales slowed down o'reilly outperforms. so if we take a look at this chart here, going back to june of 2007 all of the way out to june of 2009, the last time we saw a significant slowdown in auto sales we can see that the s&p 500 was down 38% over that timeframe. over the same, exact timeframe o'reilly was up 4% not too shabby if we take a look at a three-year chart on o'reilly, we can see that the price bottomed right here in july of 2017 why was that that's because at that point there was a big fear that amazon was going to crush them. however, margins actually expanded the stock advanced, and went through a small consolidation phase here and then in february of this year broke out to hit new all-time highs so we like o'reilly. >> who has a question? >> i have a question for mark.

>> great job coming out there and getting on the hill and actually throwing some heat is not easy to do in front of a tough stadium like this. question for you is everything that you've said about the company to me may possibly be in the price. at around 21 time, i think the company is at least at its natural, mature multiple arguably, you could say it's expensive here. >> okay. i can agree with you there, but i think a lot of companies right now, and the stock market in general, when you look at the multiple and at or near their higher average multiple. so i do think there's more upside from here and quite frankly, as the economy continues to slow down, this is one of those stocks that outperform we're seeing the economy slow down we are still far away from a recession, but i do think this one has more upside. >> so mark, i'm curious, why o'reilly versus its competitors and is there something special about this particular company that you like other than anybody else >> yes so they're continuing to grow their stores

when it comes to revenue per store, they are generating the highest amount when you compare them to autoparts and autozone and they're doing the best job and they're excellent and by far the best in inventory management. >> no more time for questions and time to vote are you buying mark's pitch on o'reilly tim seymour. i had to think about it for a little while and i decided it is a buy. i do like the fundamentals and i do think it's going through a transition that favors the autoparts business. >> b.k.? >> for me, he struck one right down the middle and biofor b.k buy, buy, buy, buy everything. >> buy everything. that's fantastic >> i don't say necessarily buy or sell. >> which is what you're supposed to do. >> j.p. morgan added to the focus list and operating margins improve and it continues to rally through the release.

>> the rookie threw a perfect game >> hold on the more important question is are you at home buying mark's pitch for o'reilly auto? vote in our twitter poll at cnbc fast money and we will reveal results later in the show. not looking too good, but it's early innings for this rookie. >> this stock is up more than 70% this year and it's tanking after hours and we'll tell you what is driving the move when "fast money" returns demand a cfa charterholder. cfa institute. let's measure up. you should be mad at airports. excuse me, where is gate 87? you should be mad at non-seasoned travelers. and they took my toothpaste away.

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welcome back to "fast money. we have an earnings alert on bed, bath & beyond seema modi is at headquarters with more. >> melissa, it's been an active stock to watch bed, bath & beyond shares are lower and it initially sent the stock back to 7% after hours and it detailed its guidance for the first quarter 7 to 12 cents adjusted the street was looking for 29 cents and furthermore, full-year revenue expected to decline each more than what the street was anticipating projecting an annual sales decline the ceo says the company is prioritizing the transformation plan to streamline its cost and improve the revenue growth gross margins and launching private label brands interests from activists and investors has excited the stock this year.

it's up about 65% in 2019. let's pivot to costco which has also had a nice run this year. same-store sales for march up 5.9% and 20.6% for e-commerce as it tries to fend off competition from amazon and whole foods, just 6% of costco's sales stores and costco stores are with in a mile though shares of costco are lower right now. >> seema, thank you. seema modi, for bed, bath & beyond and it's lined of like when linens in things went bankrupt and it's being disrupted by amazon. >> you go and bed, bath & beyond to buy the products and they had the unique place in the ecosystem and it turns out they don't. the only reason it was up this year is baz you had activist investors and to me this say no touch you stay away. >> anything you can buy there you can get off amazon, right?

you compare them to williams-sonoma which does offer their own products and they can't get awe multiple there's no reason to own bed bath and beyond. >> who honestly goes to bed bath and beyond without the 20% coupon >> that's money. >> guy, how do you pick out the scented candles online you have to get in there and -- and since henry bendel went out of business and hundredaenry bea the greatest scented candles and gi there for my bath mats and my scented candles and my po pouri, and the stock went from 11 to 20 from the beginning of december until recently valuation people say valuations are compelling and it's been compelling for the last four years and the stock went straight down. there is a huge short interest and the question you have to ask

that i don't have the answer to, will shorts cover on this sell-off that we have in the after market or is this the opportunity to lean in again my sense is with the activists in there they'll use this as an opportunity to cover their shorts. >> check out the homebuilders crushing it this year and a bullish from j.p. morgan saying they should see positive momentum in earnings season and one trader betting $1 million and one, in the space it's about to rally and mike ko is in reno, nevada >> like a golf ball. >> d.r. horton's saw two times the average daily call volume. someone went out to buy 4,000 of the may calls and paid $1.44 this is a roll of the previous bullish bet and they sold 2350 of these and they're doubling the size of the bullish bet and betting that d.r. horton will be

above 5.41 which is four week away mike ko in reno, nevada and not epcot center check out 5:30 eastern time and still ahead bitcoin is back. the crypto surging more than 40% this year so what is behind this move our resident bitcoin baller brian kelly will weigh in and there's jim talking to the kohl's ceo about the company's partnership with amazon. catch that at the top of the hour we are live at the nasdaq marketsite in metis square much more fast still ahead ♪ ♪♪ ♪♪ ♪♪

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that protects what's important. it handles everything, and reaches everywhere. this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome. >> welcome back to "fast money," bitcoin making a comeback topping 5,000 holding steady near the cryptocurrency's highest level since november and is this a sign of a bitcoin resurgence we got the bug, by the way, back what's driving this bounce >> think it is a bitcoin resurgence the december lows we saw in the 3,000 is probably the lows for this cycle there are a couple of thins that are going on you see improving fundamentals and you see active addresses and that's up 26% from the january lows you look at transaction levels those are back to 2017 levels. so there's a lot of network

activity and you look at who is buying this and people like fidelity still rolling out the institutional platform and the large holders and those are at all-time highs and they continue to grow. so last week they saw record volume on cme futures. you are seeing investors with the big fundamental tailwind and they've got them back in the saddle again. >> will we see previous highs? will we see record highs >> without question. >> and how long is this? >> you're talking a two-year cycle. so generally speaking, in 2020 the supply of bitcoin will get cut in half and the cycle for bitcoin is usually about a year before to a year after so over this two-year period you will likely get the big upswing. >> brian, i tend to believe that

bitcoin is certainly the conduit and this is certainly something that's here to stay. are we going to see the insanity of the other tokens and with all due respect as we say in the south. >> so we had that insane ico craze, right and there's a lot of junk out there and a lot of those have gone to zero and you have the coins in the 2020 market cap. >> that i think are here to stay and part of the ecosystem. >> up next, final trades

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welcome back as mark tepper's first time at the plate and he hit a home run. three buys, but mark is about to find out the song we play when the traders lose the twitter poll toni braxton over 60% of the twitter fans say they're not buying your pitch. maybe next time. >> this happens. >> i believe the rookie was gloating up at the plasma. >> anyway. foo fin f final trade, tim. >> love the stock. >> i think momo will turn into

fomo. >> they will underwhelm on the streaming strategy. >> it was a fun show, mel. >> fun if you slide my final trade here >> i love what happened. >> you got it. >> ilove what happened there >> that does it for us see you back here tomorrow at y 5:00 "mad money" starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you money. my job isn't just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. there's washington and then there's every where else that's what i thought when the nation's top bankers were being rakd over the coals by congress for the sins of their predecessors today and the averages, well, they