this year. it's a very good story. >> 40% of aws and that's the more expectation it's more of the same if we remain in the same kind of market that covets growth. >> to its point, nvidia is down 2% following the intel decline overall, the markets finished well off their lows and essentially flat and that does it for closing bell today. "fast money" begins right now. "fast money" starts rights right now live from the nasdaq marketsite overlooking times square your traders are tim seymour, karen finerman, dan nathan and guy adami. we start with a huge night for earnings and amazon higher and intel, ford, starbucks and t-mobile we have full team coverage on amazon and deidre is out in los angeles and gene munster, fast money friend is in minneapolis and they're getting ready to jump in on the conference call that starts at 5:30 and first we start off with intel and that chip stock getting crushed after

hours and let's go straight to josh lipton for the details. josh >> melissa, listen chips have been on a tear into the earnings season and something you guys have hit a lot and now they're starting to see the earnings reports from texas instruments from xilinx and now intel and here i want to dig quickly into the business segment and the ccg business and chips for pcs and $8.6 billion and that was better than expected and the dcg business so chips for servers and that was $4.9 billion and that did miss estimates and i caught up with kevin cassidy and that was the big number for this report because it is intel's most profitable business line because the business segment should have the most long-term potential growth and it looks to him like the big cloud companies aren't spending as they require additional capacity. the guidance here is also disappointing and finally, i just want to bring up today

headlines and intel ceo bob swan and intel did exit the 5g smartphone modem business and intel's ceo is saying that they did decide to exit that business because of that apple-qualcomm deal that intel could not see a path to profit on those 5g modems after cook and mollenkopf reached that deal that intel is exploring what to do with that i.t. and employees despite the modem exit he still sees opportunities 5g networking interesting, melissa, because when they made that exit you actually saw the stock pop some thought it was a good thing and they're getting out of the lower margin business. though it's interesting, some aren't so sure and i checked with ramsey who also discovers his name and he got those arguments and he said did that raise a certain red flag for intel investors that this company just couldn't execute on a business line outside of their core operations. i'm sure we'll probably get questions on the conference call

and that is starting right now and i'll be on it. guys, back to you. >> that is an interesting take given the reaction when they did exit that business and thanks, josh, we'll check in with you later on what's on with intel here? is this a chip problem is this an intel problem this is all important because we're staring at an smh close to a record high. >> he's chomping at the bit. >> and he's going to have his opportunity to yell at me and make fun of me and i think this is a chip problem because i say that to go back with micron said a month or so ago, and then you look at teshxas instruments whi i thought was miserable and the stock price action was pretty good in the wake of it, and i still thought that was a disaster and now you look at intel and josh mentioned it. data is 30% or so of revenues in this quarter units were down 17% quarter over quarter and 8% and the average selling price down 4% quarter over quarter basically flat year over year. that's a slowing business and

valuation is compelling, it is, but they guided lower in the wake of techs and micron and can throw ziel ink xilinx and semis topped out >> to me this is about the cycle and this is what we heard about tex t texas instruments and it's a downtrend in the semi cycle. so we know that global trade has been a headwind for this industry we know that there's been big secular trends like data center that have offset the headwinds and it was in the first half of 2018 and we saw some of that come out in 2019 and the fact that intel comes into the two-thirds of the rest of year and whatever and they lowered their revenue guidance by 3%, i don't think that's such a big deal, but i think it's something that you should expect to happen again maybe because when they report in july and this is something that will work its way out. to me, the move lower is justified and they want to be careful with the semiconductors and the price action that we've seen in the group that is double

the performance of the s&p 500 year to date should be telling about where we can see other tech sectors follow to the down side >> and up 50% or 48% off of that december, that christmas eve low and 82 trading sessions. i don't think the sector has ever seen this kind of a move, and i would push back a little bit on intel i don't think this stock should be reacting the same way a high multiple chip stock should be reacting look, the reason i think intel is a choice for many investors is the quality of their revenue mix and the datacentric move that has become part of the revenue mix and this thing shouldn't be behaving like nvidia it speaks to the move we talked about in the overall sector which means it had to pull back. i'm not saying you have to go in and buy this tomorrow, but of all of the chip stocks we talk about, this is the company i want to own. >> i just wonder if the datacentric focus of the business that is an area for

growth, this seems a little bit unique to them, right? you would think that that space is doing better than what they've reflected. so that to me is a little disconcerting that it's more specific to them >> so that might be an intel problem. >> yes >> it could be a data center problem. >> it could be so this is very important. what did we just learn this week that apple had cut its aws, being on, its usage of aws in half from 2017 from $770 million to $350 or 60 or something year over year. we might be seeing a flattening out of the growth in data center usage right now. >> really? even though we have microsoft results and the cloud was great. >> and amazon -- >> they're a smaller player and a distant number two to aws. we know oracle is in there and google is in there and ibm is in there and they're all competing on price. >> that's a margin issue the implication is there's something going on with data

center and the economy which is why we're talking about chip stocks everyone is slating data center or everything related to the cloud to be a part of their machine and i think the prices are going down >> to karen's point, say there is a concern about intel and the data center overall, and it's all right, but intel for some reason is underperforming that and josh made the point where are they exiting 5g? because intel can't execute on that is there more execution issue on intel than what would seem to be the surface numbers. >> it's no coincidence that they would announce the exit with 5g and went on their merry way and you see what happens to qualcomm since then i happen to believe that's a big component of it. add a 5g modem and the market liked that, that day and they'll focus on a higher margin businesses to push back on tim and i don't mean to do this, but you have seen intel move on this and you

go back to a $43 stock or so in the beginning of the year and traded up to 57 and i bring that up because we're topping up now at the same time of the year that we topped out pricewise last year. >> mobile is really important. why was the stock up that day? because i think investors who have a memory remember the fact that intel missed the entire mobile thing in the -- the entire thing and they were happy for them not to be there now competing with a that much more emboldened qualcomm. >> what does this mean for chips at this point? tough day for smh today on the back of some other chip stock moves lower and we're watching smh down as well >> i think after the move that we've had, the jury is still out. i think we've heard a mixed response as i think it's been said already and the fact that texas instruments traded the way it did after the indication of where the quarter is and i think they've rebounded in not only a v-shape fashion and in a way

that people think the cycle continues onward who's right? at this point the intel reaction is overdone. >> i'm quickly looking at amd. they're down 36 cents and really not a -- >> right that begs the question we're talking about chip stocks as a monolith and guy adami, you lauded nick lowery for picking two chip stocks, nvidia and amd. >> i did >> and that's for the next nine months and i do think -- i think he's going to wind up being okay for the next nine months and over the next couple of months there might be some hiccups and i'm not trying to play both sides of the fence it should not given what they said micron was asking us the investing community to believe in them in the second half breaking news. >> there's more from the intel ceo on the conference call which

is going right now he is saying that intel is seeing, quote, a dramatic slowdown in china from business customers. intel ceo right now saying they're seeing a dramatic slowdown in china. those are his words from business customers in china. >> and the question is is it a cyclical slowdown? we know china is going through a rough patch and this is something that people will be challenged by. we're hearing both sides of this china story, and this is a terrible headwind. >> a couple of years ago, intel paid $17 billion to buy altera they get into the internet of things and they don't want to be in pcs and servers china manufacturers all of these thing, right so the fact that we're hearing this on april 24th, four and a half months after apple told us that china was really bad in the prior three quarters i just don't think that's great. i've heard tons of stuff over the last couple of weeks about these green chutes in china and it is not confirmed and this is data we've gotten from china

that tells us things are better as they're negotiating a trade deal and this is not politics either and there's nowhere else to buy these chips. >> i think it is and i think you're making a good point i think the made in china 2025 includes going head-on against what these companies are and i think that's the right way. >> we'll keep following intel and bring you the headlines as we get them because the conference call is going on right now. we do want to turn to amazon the stock is up less than a percent right now as the conference call kicks off for the next 20 minutes and let's bring in fast money friend gene munster. are you con fivinced that fast money will be checked or will they drop the bomb on the conference call? they entered the investment cycle and they didn't play out in these march results, but it seems like they're going to probably guide some bigger numbers. i'm curious what you think or what the panel thinks about that that set up last quarter and very odd this quarter.

>> i asked gene, and i think jeff bezos told you a couple of weeks ago, he alluded to the fact that spending is coming and i think he was trying to temper some enthusiasm with the stock and maybe i'm dead wrong and i'm with you, i'm surprised the stock is behaving the way it is. everything is in the conference call and i do think he drops the bomb and we'll talk about amazon without a $1900 handle in about a half an hour whenever the conference call starts >> melissa, what this means for numbers is that the street is $47 and that number will come down and that earnings number will come down and ultimately what you will see is a revision down to put it into perspective, the commentary about the june quarter is that the company expects that the operating income is going to be 25% below the midpoint and the street estimates for the june quarter compare that to last quarter where they guided essentially in line so this is a measurable tone

that they're sending out in other words, this big upside that we saw with earnings, we really have to look past this, melissa, and start to focus on the other pieces of the business some of those are doing exceptionally well where retail is growing twice as fast as the overall retail and they're showing some signs of some fatigue with numbers and specifically, if you look at the overall unit growth, 10% versus 17% a year ago so when you put all of this together this is a great company, but entering an investment cycle which should impact how investors think about the amazon story over the next year >> how do you think about the story specifically how do you think about the stock here at 1900 given what you think about not just in this quarter or next quarter, but more looking, you know, for a year out, let's say? i think next year it will be choppy for amazon and specifically some up certainty

around the investment cycle that we're talking about and also with what's happening with the law of these large numbers, i think investors are going to become progressively more sensitive to the valuation you could argue that amazon's always been an expensive story, but there's always been some upside potential in the near-term around earnings and i don't think we'll see that and when you just step back and look at the valuation of amazon relative to the other tech giants it is orders of magnitude bigger i think this is a great story to own if somebody wants to buy it and forget about it for the next five years and i think investors wanting to optimize their next year of returns, there's much better places to be than amazon. >> so, gene, that's the problem here because it's a company that seems to be able to turn it on when they want and people have rewarded that in the past? where do you want to see operating margins? you recognize that they have to re-invest in the business, but at the end of the day what is reasonable to expect and should we expect anything more than what we're going to get?

>> keep in mind, this business, yes, it's impacted our lives and we can't live without amazon, but at the core of it call it almost 90% of its revenue is really not a great business. retail in general is not a great business so when we think about, tim, the opportunity around margin expansion, it is muted and they talk about this theoretical 10% operating margin target and if you look at the business model and it's difficult to get there and so i want to be clear, amazon will continue to dominate and change your life and it's a great story to own over the long haul, and i think for the near-term for this to work valuation needs to be somewhat more reasonable and to get that you need more earnings upside and we're entering into this relatively large investment cycle and we'll see what happens on the call as we step through that i suspect that will be the first question on the call is are we, in fact, entering this investment cycle >> a lot of questions there, and we'll check with you a little bit later on

we should note that amazon right now is to the flat line so it had been up by a little less than a percent where do we go from here, dan? >> as he said the numbers are expected to do $275 billion in sales growing at the slowest pace 18% which is still astonishing, but the slowest pace in over a decade. so if you're telling me they'll start spending and that will hurt operating margin, that's the problem with the stock at $1900. i'll just make one other point and if you look at the tremendous symmetry from the s&p 500 from the september highs to the september lows and back down to the prior highs that's a nice place for investors to take profits and the fact that the stock like amazon has not shown the same symmetry and has not gotten back to the highs tells you that there's more consolidation below those levels >> i just look at return on invested capital and by chance, alphabet and amazon have almost identical return on the vested capital and however, the valuations are so wildly different and i can't get long

amazon and definitely along alphabet. >> to me, this is one of those cases where someone who does care about valuation is able to say, look, they showed 360 basis points of margin expansion i think they can do it when they want to do it and you have much more reasonable and meaningful growth expectations and aws is in a competitive space, but i think they can turn it on and off. these numbers are very good and i'm not worried about it. >> they can turn it on and off and margins have been improving and it feels as though for at least a quarter or two they want to turn it off and you have to wonder what that means for the stock price bumping up against levels in september 2018 >> what happens with the nasdaq which hit a new high in today's session. we have headwinds coming from semis which looks weaker in the after-hours session. intel specifically within the semis trading lower. >> i would expect a quarter on monday from google and alphabet that looks like this and we're

sitting there waiting for the guidance saying it's not going back to prior highs and these stocks are double the market cap that facebook and we saw up 10% in the aftermarket and you're not going to get that from apple on tuesday, i don't think. especially when you get the outlook what intel's cfo said about china, that will reverberate across the tech investing world. >> all right we're about 12 minute away from amazon's conference call we're monitoring the big movers in the after-hours session and we've got you covered and plus the china factor is back and we just heard about intel's china problems and check out shares of 3m, and that company slashing the 2019 outlook and is it a worry for the rest of the market pinterest soaring up 50% from the ipo price. the ceo joins us to tell us what is next. we are live from times square. much more "fast money" right after this moving is hard.

no kidding. but moving your internet and tv? that's easy. easy?! easy? easy. because now xfinity lets you transfer

your service online in just about a minute with a few simple steps. really? really. that was easy. yup. plus, with two-hour appointment windows, it's all on your schedule. awesome. now all you have to do is move...that thing. [ sigh ] introducing an easier way to move with xfinity. it's just another way we're working to make your life simple, easy, awesome. go to xfinity.com/moving to get started. >> welcome back to "fast money." starbucks, kate is back with wall street's reaction >> starbucks with a pretty strong q2 and eps a nice beat and revenues are rid in line and strong comps across the board. global comps up 3%, america's up 4% china, asia pacific up by 2% and in china in particular the all-important market up 3% upon u.s. comps are now up 4% for the

past three quarters in a row the company's benefiting from in-store execution, beverage growth and also customer engagement remember, they've moved a lot of remedial tasks to after hours so that their baristas can interact with customers i spoke to bob dharrington and he said the same-store sales numbers arc cro numbers across the board were very strong and china was reassuring given how competitive we were and he's looking to ipo in the u.s. and plans to surpass starbucks in terms of the number of locations it has in china this year. the company also raised its eps guidance for 2019 which derrington shows the company believes the positive trends will continue. starbucks rewards also grew to 16.8 million active members in the u.s. the call as we know, under way right now and we'll hear it from kevin johnson, the ceo tomorrow morning on "squawk on the street" to break this down at 9:00 a.m. eastern and sticking with food here, grub hub with q1

and the company reporting more active diners at 19.29 million compared to 18.5 million and that stock is also higher in the after-hours trade by 5%. melissa, back over to you. >> thank you, kate rogers. >> starbucks was trading at all-time highs before this reversal >> valuation, the quarter is fine and kate said they raised guidance and they beat by 4 cents and they raised by 6 cents and it's not a huge raise in terms of where they are for the full year. margins hung in there and asia comps were good and everything was very good and then you look at it at almost 23 1/2 forward earnings and does it deserve that valuation and i think that's why it's selling off. >> for me, this is one of those ones that i've just stayed with despite the valuation and starbucks has proven that they have pricing power and they're holding on to margins and when they get the same-store sales comp beats in north america and you start to see that the china business is showing resiliency

china is all over the map depending on who you talk to in the food space it's much more resilient. i think if you look at the multiples that are being paid for in this space or in fast casual, i can't compare it to chipotle, but it's clear that if you have a company that's growing the top line and continuing to show pricing power, they are being rewarded and stock price is that. >> you're not worried about belt in road and coffee bean. when you hear that they'll have more stores in china than starbucks at some point you say to yourself this major growth area that we know u.s., consumer-oriented companies have had an amazingly hard time getting into china at a time when they're increasingly competitive with us and that is a massive headwind for the business. >> they said, we're doing remarkably well, considering the competition and that's what i would be liss edtening to. >> for more on starbucks head over to trading nation ford soaring

intel is down sharply. amazon's volatile as we await the star of that call in five minutes' time. we'll bring you the very latest. i'm melissa lee, you're watching cnbc first in money worldwide we're back in two minutes. pnc bank has technology to help make banking easier, like.. pnc easy lock, so you can easily lock your credit card when its maximum limit differs from its vertical limit. and clover flex, for when you need to take credit cards when no one carries cash. or requesting a call to help get a new credit card- one that hasn't followed the family goldfish. pnc - make today the day.

through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet...

to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. welcome back to "fast money. we have ford soaring 8%. phil is here >> if they can close above $10 that's a level that ford shares have not seen since august of last year. so what worked in the first quarter for ford well, north america continues to be the main story here they made $2.2 billion in north america in the first quarter that's, remember, they're transitioning towards more suvs and they already are strong in trucks and they're trying to push that lever even harder and that division, earnings up 24% in the first quarter and ford motor credit hadda huge quarter

and the china business is improving and here's cfo bob shafrp shanks talking about what he sees in china for ford >> the chinese economy seems to be stabilizing and they were flat on a year over year basis and the government has already announced some things that they're going to do, for example, a reduction in that to stimulate the broader economy and also our sector and there's rumors that they're going to do more so the government recognizes the importance of this particular sector and it's possible that they'll give us a bit of help and simulation as the year progresses and overall, i think we're seeing a more stable environment than we were a few months ago >> two other notes, melissa, ford affirms that it expects to keep its dividend at 15 cents a share for the remainder of this year and the conference call which starts in a couple of minutes that will be key i think analysts want to hear what the tenor and tone is from ceo jim hackett. some of the past call, he's been very vague in terms of where the company is headed and how the

turnaround is taking hold. let's see what he has to say to the analysts about the first quarter and going into the second and third quarter with the turnaround phil, thank you. phil lebeau in chicago we should note that gm is trading higher in the after-hours session. ford is telling a whole different story when it comes to china. intel ceo we told you moments ago saying that the company is seeing a dramatic slowdown and that stock down 3% 3m posting its worst day in more than three decades since black monday wiping out all of the gains and the company slashed 2019 guidance and announced plans to layoff workers and the company citing china who is selling the real story behind global growth when it comes to these stocks? >> i would submit it's 3m. i mean, you're talking about -- that would be my view. i never underestimate any

consumer around the world wants to spend money doesn't mean they should be. when you look at a company like 3m, you have to ask yourself, what are they seeing what's really going on in my opinion, 3m tells the real story. >> i think both can be the real story. we talk about different consumers and 3m, some of it was self-inflicted and as it relates to ford, good for them and i'd much rather and i do own gm, and that would be good for them and gm does have a big north american business and the valuation is more attractive >> ambassador, when you take a look at china, you take the turn in the data that we have seen recently, which companies do you think tell a better story? >> i think the industrial companies have a cyclical issue. i think the tech companies have a strategic political issue and there's no question to me that made in china is an issue for all of the big u.s. tech companies. i think you think about ford and gm and they've been very

successful in terms of partnerships in china and i'm not surprised to hear what that still works and on the industrial side there is a warm dynamic between u.s. companies in china when i think about ford, by the way, the fact that ford motor credit and that doesn't make me excited at all and that can turn on you in a hurry and if you are thinking about the credit cycle and the investment is something else that people like to talk about with ford because it gets them into the ev and they're lagging the peers and that is multiple to the stock. >> i listened to the companies who are down 10% and they're blaming china, and i'll tell you why because we know what's happened for the turn in the chinese data and you look at everything, and the change of our fed and you look at what europe's done and we went from global tightening and to global easing and yes, the data will look less bad. but these companies -- did you catch that, by the way >> i was in a derogatory way

>> just listen here. >> in a snarky way my point is that we'll see more reactions like this when people are honest about what's actually going on >> we should note the 3m ceo mike roman will be on "mad money" on monday at 6:00 p.m. eastern time check out some of the big movers amazon is jumping right now. it is actually down by .4% starbucks hitting an after-hours high and intel is getting crushed and we'll bring you the latest, and pinterest soaring 50% just last week and the rally says it's just getting started and he'll be here since his first interview since the public debut. much more fast coming up ahead you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're not mad, because you have e*trade which isn't complicated.

their tools make trading quicker and simpler. so you can take on the markets with confidence. don't get mad. get e*trade and start trading today. don't get mad. let's talk about thisd when we meet next week.

edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours.

welcome back to "fast money. as the tech unicorn stampede continues, pinterest is soaring more than 50% since its ipo. joining us now is one of the social stocks' earliest investors and let's bring in rich highsman, and earlier investor in pinterest. you have to be a happy guy >> i'm happy thanks for having me back. i think the company's done well. i think different from a lot of the ipos out there right now especially on the consumer side. pinterest had the unique

positioning and was driving value both for the pinners and the advertisers. so people are realizing that >> how should we think about pinterest in relationship to some of the comps that were brought up during the roadshow and the likes of facebook, et cetera are they truly competing or is there some sort of frenemy aspect to all of this? >> probably both so they are taking share largely from tv and digital is still such a large percentage of media spend that all of the shift is still coming off those massive icebergs to digital, but even within that pinterest has carved out a position where they operate at both the awareness part of the funnel as well as the last click, so they're able to compete with broad-based ad networks as well as things like ad words which have to be very discreet with the return of advertisers. >> now that pinterest is a very mature company, by the way, it was clear with facebook's report that advertisers didn't leave because they had no place to go, it seems to me

they'd like to leave, i think, but they have nowhere else to go is pinterest a destination for them >> it is a destination, if you think about 85% of the spend is either in google or facebook for digital. as advertisers are flowing out of traditional media, they're looking for alternatives besides just facebook and google and pinterest and snap are the big alternatives >> rick, let's go back two years when snap came out it was a few years after twitter and after facebook you could have made the same argument about this niche area and this mode that's around this what's different, though because snap really, its had the growth in sales, but its had commensurate losses and massive losses you guys are almost profitable >> yes so there are probably three things that are different. snap was a reach network and trying to be media and trying to get people to engage so they're really looking at themselves as an intent engine you want to find something to have for dinner and you're

looking for a new bathing suit for summer and you're trying to redo your house and that's real engagement and it has a higher return on advertising spend than broad-based media of sharing videos or pictures with your friend and therefore, pinterest is about the same scale. if you look at gross margin and snap and much more capital efficient and is able to drive greater profitability and just because of the value of the user is that much greater >> karen >> where is pinterest on ad load and how much room do you guys have >> it depends on how you think about ad load. i would say compared to interstitials or people having interruptive advertising that you might see a takeover page on a normal website or how you might see it on some of the video sites, pinterest ads are endemic and a lot of the ads that you see on pinterest are beautiful and almost content in and of themselves. i don't think we're sharing the ad load numbers today and i don't think we've gotten pushback where other folks are

gotten where you're interrupting people's content consumption with something different. >> we've been talking about pinterest with rick for some time now >> november 2013 >> congratulations thank you, thank you, guys very much appreciate your help. >> guy >> what did i say? i've had a pinterest page since right around then. my page -- >> what's on there >> spectacular. >> it has a smile and classic. >> i have lynyrd skynyrd it run the gamut. >> weird and the biebs. what i'll say is this. 250 million members on its way to a billion and 60% revenue growth and rick can speak to all of this and this is the stock and i said it when it came public we have a news alert coming out of the white house and let's get to eamon javers. >> we have a minor mystery here at the white house because the president was just speaking to a

group of children who were here for take your children to work day and he said at that event that president xi jinping of china will soon be coming to the white house. it made a lot of observers think that the president was talking about some sort of endgame here for the china trade negotiations that have been ongoing for a while and there might be question about when and where the two leaders might meet to sign a trade deal and that process we know is ongoing white house aides, though, were surprised that the president said that and told me that they have nothing to announce in terms of a visit from president xi jinping to the white house. first of all, listen to what the president just said just a couple of minutes ago. here it is >> welcome, foreign leaders, on american soil we have prime minister abe of japan coming tomorrow it will be a very important

meeting. we will soon be having president xi from china coming we have many, many of the leaders, ultimately all of the great leaders come here. they are reporting the appearance on our country and that's the white house press corps. they report, they let you know how we're doing and often times they report correctly. >> so there you hear the president saying that xi jinping will soon be coming here to the white house, but as i say, aides don't know anything about that or at least aren't willing to talk about it, so we have two possibilities here, melissa. one is that the president was overly enthusiastic with the different world leaders and there are no plans for xi jinping to come or two, that there are plans for xi jinping to come here for the white house and the president wasn't supposed to talk about it yet and we're not ready for a prime time consumption yet and white

house aides say that there's nothing to announce right now. >> there are a couple of trips that are planned and this would be at least a month from now or so because thlighthizer has to o to china and vice premier lu would have to come afterwards. >> that is backed up by staffers that liu, and will he come with him on that trip in two weeks? that's certainly a possibility and we just don't know at this point and the white house is not offering a detail about what exactly the president meant today. >> that's quite a take your kids to work day today. >> i thought it would be pizza, but the white house, i guess is different. what do you make of these comments >> it's almost shocking that the market has moved on without even having a deal and it feels like

this is a reminder that we don't have a deal, and in a world where china was spent so much talking about them on the show i think that the biggest issue for the markets is the fed and i don't want to change the gears and the most important thing is the fed meeting next week and the market that thinks they have no fed in front of them and stronger data in the u.s. that can give them that i don't think it's an issue. >> it seems it is a foregone conclusion that there would be a deal in the next six months or so >> i'm sure everybody would like us believe this has been march of last year and we've been promised a deal since the fall and here we are not that i'm privy to the talks, but i don't think we're any closer now than we were six months ago we can say anything you want, until there is a deal and we have a news alert here on slack and it is gearing up for this public debut deidre is back. >> ahead of that public offering which is expected to be a direct listing, it is being valued at more than $17 billion on the secondary market and the firm

that matches private companies and their employees with investors tells me slack shares are selling as high as $28 a share and that would imply a valuation of $17 billion keep in mind it's less private market round and $7.1 billion and the excitement around slack makes sense. remember, this is a cloud-based messaging software and cloud stocks have been on a tear also remember how zoom was received and slack was often compared to zoom and both have compared to viral adoption despite big tech companies getting into the space >> deidre bozman in san francisco on slack comcast ventures is an investor in slack this is direct investing to spotify. >> you know where spotify closed today? right at its reference point almost a year ago when it had a direct listing it's interesting we've seen some great performance of some of these ipos of late you know, when you don't have all that support from all those

underwriters, sometimes it can be a different thing and it will be very interesting to see how this plays out and i think the most important thing is how unique of a company this is and the growth that they have and the enterprise adoption that they've had, so to me, i expect the thing to be fine. >> it's interesting, social media again is now a new entrant and this is offering an alternative to the legacy players and if you look at the valuations that are out there, you're somewhere tween a facebook and you start to get into twitter and those territories. so i think the valuation is acceptable at this implied valuation. >> a soaring intel is getting crushed and amazon is volatile, but it is back in the green as the call gets under waand y we're about 15 minutes in right now. we'll bring you the very latest right after this i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure?

td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪

welcome back to "fast money," intel sinking after its earnings report and let's get to josh lipton. >> melissa, underlying trends are concerning that is what intel's bob swan is saying take a listen to what he's telling analysts on the call our conversations with customers and partners across our pc and datacentric businesses over the past couple of months that made several trends clear, the decline in memory pricing has intensified the data center inventory and capacity digestion that we described in january is more

pronounced than we expected and china headwinds have increased, leading to a more cautious i.t. spending environment >> now swan is saying demand will improve in the second half, but they've re-assessed 2019 expectations based on these challenges so dcg chips for servers and they see that down mid-single digits with year over year and inventory absorption and i'm going back over stacy rasgon and it was supposed to be up mid-single as of just last quarter and they anticipate an incrementally pricing environment and the pc centric forecast remains unchanged at low single digits. for a lot more be sure to tune into cnbc's "squawk alley. >> josh lipton in san francisco

on intel which is down right now. >> the stock started the year before low 50 and investors were optimist become a new ceo and all these kind of trends and pcs were better in 2018 and that was a surprise and data center was good and there were a lot of things that were supposed to go really well for these guys and all of a sudden you have a bomb like this and i know tim will say it's not a bomb. they should have been more conservative in january is my take >> unless they didn't know >> unless the business deteriorated which may be worse. remember the company used to do two months into it and the semis have to get back to that in some way. >> it should be down that's a pretty significant part of the whole story now that is really being called into question and maybe he's being conservative, but it should be down this much >> still ahead, amazon ticking higher as the conference call kicks off and we'll tell you if investors are geinttg bullish when "fast money" returns.

one of the most rigorous exams in the world. demand the best. demand a cfa charterholder. cfa institute. let's measure up.

let's hold ourselves to the highest standards of ethics. as investment management professionals, let's measure up. cfa institute. mno kidding.rd. but moving your internet and tv? that's easy.

easy?! easy? easy. because now xfinity lets you transfer your service online in just about a minute with a few simple steps. really? really. that was easy. yup. plus, with two-hour appointment windows, it's all on your schedule. awesome. now all you have to do is move...that thing. [ sigh ] introducing an easier way to move with xfinity. it's just another way we're working to make your life simple, easy, awesome. go to xfinity.com/moving to get started. welcome back to "fast money. amazon shares up higher. let's get to deidre bossa. >> amazon higher in the after hours despite calls falling short at the call. brian mentioned that amazon will be spending a lot and part of that is on one-day shipping and investors reacting well to that. have a listen. >> turning into q2, illike to

te tell you why that's lower and we are improving the prime two-day shipping program to a free one-day shipping program and we are able to do this because we spent 20-plus years of expanding the fulfillment network and this is still a big investment and a lot of work to do ahead of us. for q2 guidance we've included approximately $800 million of incremental spend related to this investment. >> it seems that investors are willing to stomach slower growth and higher spending because profits are rising and amazon by spending will continue to take more market. >> deidre, thank you let's get back to gene munster gene, you had a bold prediction before the conference call kicked off we are getting more spending and the stock is up, though. so what did you make of it so far? >> i want to break this spending down quickly in two pieces

the company reiterated and they talked about what they'd said last quarter and we're making good on that promise and we'll invest a lot over the next three quarters and that was in some ways expected, but it was -- directionally a little bit negative like we had talked about going into it, and then they pulled what deidre said out of a hat about the one-day shipping and i have to say that is an impressive move by amazon capitalizing on their logistics power and this is a boot on the throat of traditional retailers, and if i was a retailer i would not want to hear what amazon just said and i want to put it into perspective, the free shipping and they'll double the availability of that across the u.s. what that means is that ultimately is earnings are going down, but you're going to see a

reaction cell raising reacti reacceleration of earnings growth >> gene, what's your take for the quarter on amazon? >> i'm going to give it a b as in bravo and we'll see what happens with the unit growth number in the quarter. >> gene, thank you >> gene munster of loop ventures how do we trade this b from gene guy? >> b that's -- >> it's, like, meh -- >> it's a meh grade. i still think you sell the stock here >> by the way, on the grading process. if you grade the quarter in reverse or that quarter, you get one grade and if you're talking about guidance, should we be penalized if the guidance is bad? >> the game as we know and they're doing this into a seasonally weak period. >> up next, final trades

- i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

final trade time tim seymour. >> how about the numbers out of starbucks? not worried about this valuation. there you go. >> karen finerman? >> i still like anthem had a bounceback and there's still room to run with oversold. >> semis, i think the highs are in for a wild and they're down in the after hours and i wouldn't sell it there, but i would sell it on a rally. >> there is an end on do nottist that watches this show

religiously. dr. bahrut, handsome man, by the way. great endodontist. >> see you back here tomorrow at 5:00 "mad 5:00 "mad money" with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you, but to educate and teach you. so call me at 1-800-743-cnbc, or tweet me @jimcramer. on this show we spend a lot of time talking about stocks, about markets, about the fed, about the economy, interest and earnings we focus o