expected to widen to 28 cents from a 9 cent loss earlier in the quarter. as the company invests in growing the employ base and facilities now, roku shares are likely to be volatile depending on how knows numbers come out, because remember the stock rallied 358% since the start of the year. but still down 21% from september. back to you. >> one to watch closely. that does it for "closing bell." >> "fast money" starts now >> live from the market sited overlooking new york city times square this is "fast money." i'm melissa lee. traders pete narjen. karen finerman and steve grasso. walgreen's in talks toth private. could these be other dow shake ups in the works if walgreen's gets the boost lafts in space analyst how do you value the space tourism company when no one is there to

compare it to. reality check for the real real what a cnbc investigation uncovered sending the stock tumbling come on in the water fine. dow and nasdaq soaring to all-time highs as treasury spreads hit the highest level since july is the bond market signaling it's time to take off life jackets, jumping back into the record rally we mentioned the yield curve if you look to it 10-year yield 1 the.86%. german bunds back to all-time highs. >> jp morgan to 130 all across the financials great gains we talked about it yesterday but i'll say it again. earning season a better than expected volatility is getting sucked out of the market right now. we were talking about 18s, 19s a couple weeks ago here we are in the 13 and a half to 14 and a half call at it's you amazing how quick people digested what's going on in the options mechanic one area that i see more and more is energy

people going after some of these areas if you are looking at volatile names in there that's where we have seen it. we've had 40 different stocks hit over the last two weeks in the energy space alone with unusual activity looking for upside and get going. happening in days not weeks. and going very, very short-term. >> is that a product of worst is first now that we see the laggards bought for the beta play how did you start off the segment there you said earnings not as bad china trade not as bad. fed better than expected you have a hoeft of things impeachment rolling off the market's back right now. everything is not as bad so that's why people are buying. >> does that equal record highs. >> if you look at industrials breaking out to record highs and people aren't talking about that they're talking about the more exciting -- and the meanings maybe should be more exciting back to bonds a couple of things in the bond market we have record supply coming also there is a supply issue putting heaviness on yields if you don't

think think can you digest this process. in the past environment when yields were hitting lows there was no question we were dieting it and we had the ism services today. we've been watching in part of the u.s. economy to see if it's falling back and a couple of times the last three or four months that's been a trying are for the market to be cautious. the numbers today not great but better than expected china pmi last night slightly better most importantly i think you have sentiment for the equity market that we haven't seen in a long time. i'm not telling you we're at january 2018 but it does feel -- what's the measure, the cnn greed index, an aaii coming out tomorrow the sentiment is part of where we came from which was so bad i think that's playing into stocks >> yeah. >> how do you feel about the markets right now? we have come a long way in short amount of time. >> a really long way in a short amount of time kudos you were positive when strayed was looking terrible and

i was more concerned however that being said, that was 6% in the s&p also only three weeks ago. >> 8% and 23 sessions off the october lows >> great, the yield curve has shifted. or steepened that's really good for banks jp morgan up $18 in the last three weeks. that was the time to own more jp morgan i think here -- you know, yesterday i sold some 130 calls against my position i love jp morgan i think it's an outstanding. >> how far out did you go on that. >> just two months it's a nice run. i don't think it's crazy expensive here but i also think $18 move in a stock like jp morgan is an extraordinary move any protection i had is going to zero the volatility as pete said got crushed. and i'm long when the market is up that's great and when it's

not not so fun. >> i agree with karen, last week i said the market was very close to being overbought in rsi i said 10 handles away i catch 308 0 as overshoot level. we're battling with the level. i think it's time to lock in profits but i believe there is reassessment and people will ultimately buy it back. >> it's a great opportunity to trim. >> united rental it hit 150 food in a short time. i love united rental it's not expensive here. but that is an extraordinary run. >> okay. so f2 a pullback, do you -- you're going to time it because you're a. >> short term. >> fast money trader. >> it's faster than ever if if i give you a small synopsis what we saw in the last couple of days we are seeing more and more paper coming in expiring friday. i mean, i'm talking about they are ultrashort-term but they've been so successful with the trades within scary. they've been right, right, right. week after week.

you tack about the big move. how about the guys buying options monday expiring that friday and then the next monday wednesday last week and then expiring friday two days later that's the kind of market we're in right now i think it's partially because people do trust it especially at the these levels. >> can i ask a question? >> what was this. >> at what point when you see that put call skew or something that's wildly bullish in terms position attention right now do you say the contrarian in you say this is getting dangerous. >> well. >> that's what mied spider sense is tinkling. >> it's not so much about put call ratios because that doesn't mean anything to me. it's about buys and sells. are they selling or buying they are buying and the buying has been short term and they continue to be right i'm riding this thing along. i'm trying etrimming like you were talking about karen you sold call in jp morgan obviously implied volatility has gone like this you're not getting paid as much as you would like for the options. but i've been trimming the omissions today, mel

today wells fargo, morgan stanley. love the names still love the names i think they're going higher but it's a great opportunity to take some off. >> can i ask a question now. >> i wish you would. everyone wishes you would ask a question. >> i have a question for grasso if you think there is a chance of a pullback at this point when does seasonality kick in are you better off troo trying to trade the pullback. >> if your time horizon is five years then just stay the course. if your time horizon around this desk is pretty quick, then i think you trim in november, get long again december. and that's the way you play it to pete's point, alta, roku, snap, all up 20, 30% in six days. >> wow. >> you could playbook your year in the individual events really quick. you have to be able to buy them sell them quick and don't fall in love. >> or you can lose the years in a short amount of time with a quick pullback. >> with stock setting a reported

high some titans are heading a cautious tone heading into the end of the yaoer we heard from a bunch here on cnbc here is what they said. >> we've been at a peak for a kwhiel i don't think how much longer it continuing we've been saying it's a peak for a couple years and we were wrong. >> there are a lot of valuable companies preponderates are low. looks like the markets are fork forecasting a rosy outcome in the bond market it's a lot being bought by central banks. >> investors are flush with money. as a result they are taking low returns and they also are buying dreams rather than earnings in stocks >> our next guest is also on alert for predicting a pullback with rattle the market between now and december but he views it as a significant buying student tp tony divider chief market strategist a at canaccord. a pullback of 2 to 5%. >> no one expects me to come on

at a record high being bull. >> europe the bull guy. >> what i'd like to do is put data what everybody on the desk is saying. how do you know when the pullback is coming we found when the s&p 500 is up more than 20% year to date through the he said of october it's always up through the end of the year by a median of 5%. greater than 5%. by but five out of seven occurens you could buy it cheaper than the october 31st print. if the market is up a% and a half or 2fers from there you could have a 2 to five% pull back over the next two weeks my buddy found that when the dow and nasdaq make a record for altogether on the same day to for the first time in over three months, you typically get a 75% odds of a pullback over two weeks by under 1%. i'm not calling for a monster pullback and people are going to say, 2%, why trade it. >> down 2% everybody is freaking

out. doing a cnbc special. >> easy, easy. >> the threshold is like 3%. let's get that straight >> usually i'm on it so i get it no seriously everybody down 2% thinks it's going to be 7 to 10% and don't buy it my message wolbert be triem my message would be if you're getting in because you make the new high you don't have to chase the next tick wait. >> just wait. >> down 2% -- i'm flat and then some down big like 10%. >> sure. >> when you see a down 2% would you say time to start buying the ones that got hit, the down oh 10%. >> i would, karen. i'm kind of in your institutional fund manager you can't buy the low tick anybody saying they are buying the right exact percentage is delusional i know i can't what i can do is the know why i'm buying that way it goes down it's hard but at least i can add into the

weakness if i'm not convicted before it comes down and expect a pullback there is flo way i'm buying down 2 to 5% because it could be down 10 to 15 that's why i'm fundamentally convicte >> if you are waiting to buy what do you buy when you are down 2% to 5%. are you buying the sectors that got hit the most. >> i've buying offense and buying offense the guying prbt printing the money. i can't yell it loud enough process. the guys printing the money gave us the game plan globally. i can't say emphatically enough. people said last week an amazing thing that people didn't pay attention to he said the thing making miss raise rates is meaningful ins flags but he said next year the fed is copping out with a way to get inflation expectation higher that's not tie-downing that is adding liquidity or making asset prices go up or some way of creating more

spending you. couple that with the comment, mel that he said earlier this year they thought low inflation was transitory and it wasn't. he announced a generational change in fed thinking that we talked about in july where they are more worried about deflation than inflation it's a generational change what does that mean? fed put 101, higher valuations and flou given the turn in the global data that timmy outlined in the manufacturing pmis not that they're good. they're less bad let's say you turn the global da data and the u.s. and consumer is benefitting from the easier rates and lower fed. you could have what we talked about the whole year a mid-90s environment a post '957 environments with big drops but oh 20% years. >> didn't he come as bearish everything i heard. >> no, no. >> i'm being cute. >> no, no. >> if i don't convince you ahead

of time you know we're not buying the weakness. if i'm not consequence convincing youhead of time you're not buying the weakness i want to buy the weakness. >> fundamentally you said i'm looking at this fundamentally talking about a couple of triggers what is the downwarding trying is it a traed headline what's moving it? what i'm hearing is sentiment, positioning, tactical timing in the calendar and history. >> what's the fundamental trying. >> reporter: down 7% october 2nd with the market collapsing there is no trudy trigger in the downside process could be a trade headline, a fed comment, earnings statement, really anything there is no identify -- or position for it meaning we are set up for a news item out of no where. >> good to see you ton grow tony divider. he was like a bull with little bear ears on. >> he is difficult to -- and largely right with the bull call you can understand why he wants to dance with the bull that brunk him. >> the most important thing he said about the fed when you look at the food

everyone worries about the a hawkish or dovish cut it seems the love is leading the fomc and stay that is way once market participants get it it's off to the races for the market. >> match zbrup reporting the earnings the low after hours. and the chairman of boeing sitting down with cnbc we'll tell what you he said that gave the stock a lift today neve from times square in w york city, much more "fast money" right after this. ♪ ♪ i've been a caregiver for 20 years. no two patients are the same. predicting the next step for them can be challenging. today we're using the ibm cloud to run new analytics tools that help us better predict and plan a patient's recovery.

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well back to "fast money." we have the earnings alert on match group. the stock down 15% in the after hours session. let's get to eric chemy back at headquarters with the latest. >> that's right. investors swiping left on tinder parent match shares hit after hours trading down more than 16% earnings and user numbers beating estimates. match posted 19% jump in subscribers. but the key metric came in weaker than expected growing only 4% since last year. and guidance for the current quarter, missing forecasts, in part due to long-term investments and heavy legal

captivates costs match is under pressure from rival online dating fss facebook launched a dating platform app this year. and another launched zblchlt match is it reliesing on tinneder to okay skup i had to match in emerging markets. subscribers jumping 29% internationally and nef revenue growth in emerging markets nearly 80% but the company has work to do and no surprise shares of iac also down sharply in the after hours session. pu still match has been a stock to buy up 34 peppers this year even with the steep losses after the earnings back to you, melissa. >> eric, thank you eric chemy at headquarters steve grasso i feel like you mentioned match recently. >> i feel like you have a lot of experience. >> no. >> the issue with match. >> just kidding. >> this is something i bought way lower than where it is now and i rode it up facebook was never going to be the real competition there i think people wanted a separate

dating app other than being facebook and seeing friends and whatnot. i never thought that was the headwind the headwind is the ftc saying the headlines in the last couple months that 20 to 35% are not real people. that's the headwind for the daying sites that. >> mo are they. >> well -- why you swiping to me, man. >> he has no idea. >> from a match to going private, shares of the drug store chain a boost today on the reports of exploring plans to go private. people familiar with the situation telling cnbc the drug story wantwell greens reached out to -- if it happened it could be the largest lbo in history. >> what's your take karen. >> kind much surprised >> why. >> one, the size of the deal right? a deal that big, that's -- that alone it makes at a active to do second part is this is an industry that, you know, is undergoing big change, right

and that isn't always a good time to take on a bunch of debt. even though it might look cheap, i think, you know, an industry in flux like this is really not a great candidate. on the flipside k.k.r. was involved in o with boots alliance if you think of private equity k.k.r. comes to mind if there were a deal this big i would imagine it would be a number of private equity players and lawyers involved and that spells leaks that we would see leaks of information and that sort of is interesting something to watch. >> right when will you say the industry is undergoing a lot of change, do you mean the pbm front of the store. >> both, all of it and so to take on a lot of debt at the time you undergo change is hard. and the size. >> have you seen any unusual options activity. >> no, i you were thinking about that i was thinking that same thing we have not seen anything incredibly unusual will. i wouldn't say there there are

some interesting aspects about the company growing private. they throw off cash. yes they have debt but throw off cash maybe there is ways to massage the debt around a lot of them can figure out that might make it more palatable. it's not ultraexpensive. there are some reasons why maybe private equity would have interest here injury. >> if those the reasons it seems like an activist would have more luck as opposed to taking the whole thing private. if they wanted to lower the leverage of the company, right, and better utilize the free cash flow, you don't have to buy the company to do that. >> i think the stock would respond. and often with the right active it with the right track record gets in there. >> the amount of debt they have on now is not problematic. the amount of debt they would need to take on. >> i see. >> to go do the lbo, unless he put in as the 50 billion of equity they can then they could do it with a lot of debt that's an enormous equity check to write. >> if you remember walgreen's replaced general electric in the

dow last june. a if they leave the dow and there are calf yats before that happen we ask who replaces them? let's put the caveats out here we don't know if the deal gets done, when it gets done. could be a long time before et cetera removed from the dow, et cetera, et cetera. but this is a fun exercise. >> we're having a little fun. >> don't get too serious >> the dow in theory is -- should be a reflection of the economy and so what could better reflect the economy if you had the opportunity to replace wahl greens boots alliance, pete. >> i'm going with a little bit of surprise pick maybe i'm going with a retaile >> oh, boy. >> let's go to minnesota for a second. >> where else? >> by the way, walgreen's right there. united health, right that's minnesota tlchlt 3. minnesota company. travelers minnesota company. what naks sense. why not target when you look at target it fits the bill you obviously have the cvs within the target stores there is different things about it

but looking at the stock, $ 110 it 2.8%. pe it makes sense. and injury it's a measurement of what you were defining, mel. measuring what's going on in the economy and everything else. >> tim >> well if i was going to target something it would be probably cvs. to me it's almost kind of painfully obvious. if we are talking about walgreen's, what is the closest competitor, stock price for a stock -- essentially a stock weighted index, in terms of representative part of the economy and both of the companies are either struggled from or deal with some of the same issues arndt the pbm business and core retail footprint. escalating kind of retail costs and escalating labor costs and possibly input costs from the trade war. but cvs would be the clear and obvious replacement. >> karen >> yes, i'm choosing facebook being with all capsed to. >> apparently. >> that's the new logo and there you see, the the dow

doesn't represent nearly as much as it should social media, advertising revenue it seems like a big missing. >> nice call nice modernizing of the it would. >> with all the regulation. >> boeing is in there they got plenty. >> how about another mass merchant in the theme of pp but i think this is the symbiotic active of the company. costco price weighted index not the market cap it's a excellent choice representing the economy. >> great gram. by the way just a simulation. >> there is a lot that could happen. >> walgreen's is still on. >> for all the challenges facing walgreen's and the public med era market head over to cnbc dog. much more after this. >> boeing getting a big vote of confidence from the company chairman but will investors buy into his support. >> and later facebook upping the game in the hardware market with the roll out of the portal tv vi rwill consumers open up the

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welcome back to "fast money. check out shares of boeing jumping 2% for the third positive day in a row. process cnbc sat down with chairman dave calhoun talking everything from the grounded 737 max plans to the ceo dennis mulan rk phil lebeau more with the big interview what a catch. >> welcome. >> good to be here. >> two objective for dave calhoun change the narrative from last week, and making it clear to the market and to regulators that the boeing board

has the back of dennis muilenburg >> from the vannage point of our board, dennis has done everything right from the beginning. it was sort of clear to us no one was hiding anything. it was a set of engineering decisions that ended up being wrong. this control system will be fixed and it will be safe. and it will have been tested like no other control system at least in my history in the aviation industry. in airplane will fly and will be safe and i'll fly it and my family will fly it. and there is -- the only way to win the brand back is is not advertise it or talk about it but to win it with every next flight >> one other piece of news regarding dennis muilenburg. dave hal calhoun on saturday said he received a phone call from dennis muilenburg -- on capitol hill he was asked by senators and representatives, why are you being paid given the crisis involving the 737 max he didn't have an answer he said that's up to the board

on saturday he called dave calhoun and said forget about my bonus and stock grants for 2019. also forget about them all the way until the max deliveries -- they're caught up completely which may not happen by the end of next year it could be early 2021 by the time they catch up with all deliveries he is -- his compensation question they have put that to rest at least for now. and don't forget, he is at deal book talking with andrew ross sorkin. >> it's interesting calhoun said it was a series of engineering decisions. what did he say in response to text gate, one of the most memorable emmoments in the hearings >> yes. >> why didn't somebody in the staff come running in with the hair on fire when they saw the texts. >> we did ask about the emails and whether or not this was a culture of oh not telling everybody everything, and essentially not a safe culture at boeing. what he said was, look, we acted as quickly as we were armted to

information. that question is out there and regulators on capitol hill have said we still want to ask more questions in fact they wrote a letter yesterday essentially saying we want to ask more questions to boeing executives about who knew what and when did they know it but at this point dave calhoun said in their opinion dennis muilenburg is not hiding anything not keeping anybody in the dark about what happened with the max. he says look, he has been forthright from the beginning. and that's why we believe he is the person to loo lead the company right now. >> do you think not taking a penny of pay until the bag lock had log is resolved does that alleviate the heat from regulators in congress. >> no. >> i don't think it does anything. >> i think the heat is there and i think that they're -- after being in washington i get the sense not everybody in washington is completely satisfied with what they heard from dennis muilenburg last week. >> it seems like investors are satisfied. i don't know what do you think. >> i'm not sure. i think investors have a lot of

questions too. >> you're an investor. >> and ultimately comes from when do we get the max -- first max's out. q 12020 if you listen to hunter k. one of the best out there, wolf, he has the 42 coming out in january 52 by august and basically says down 50 planes by the end of the year. >> if you can ramp up to 57 per month and get the deliveries ramped up as quickly as they had like that's going to be the real logistical operational challenge between january and july >> and is that because you don't have the -- you might not have the workers's back that you you need to do the full camp. >> it's not that you don't have the workers. it's that you've got somewhere around 350 to 40 oh grounded with airlines. now you've got another, i don't know 250 to 300 where in that range that have been built but not delivered yet. it just -- it's not a case where you can flip the switch and say fly off and go somewhere it takes time to get the plains back in service.

>> okay. phil great to see you thanks for coming by. and phil mentioned this. but dennis muilenburg will be speaking at the deal book conviction cnbc has live coverage starting at 8:30 a.m. eastern time. coming up, a reality check on the real real what a new cnbc investigation uncovered that sent the stock lower plus, facebook shipping out its first pertle tv devices we tell you how it stacks to competitor in the b btligate for screens. much more "fast money" coming up make nature's bounty hair skin and nails step one. it's the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. nature's bounty, because you're better off healthy. ♪ not much, how about you?

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and another way aag is working to make your retireme... better. don't wait. get your info kit now! welcome back to "fast money. shares of the real real up 4% since the online luxury consignment marketplace went public in juan the company reported earnings last night, told investors that they are growing but the question is, at what cost is it sacrificing quality for profits? and why are some employees sharing a different reality? cnbc did a deep dive into the company. here is part of what we found in our investigation, the real question >> did you actually see fakes make their way onto the site for sale >> yeah. >> she was a copy writer for nearly three and a half years at the real real warehouse in new jersey but says the team she

managed did more than just write about designer goods they authenticated them too. >> do you think they had enough training to authenticate the luxury bags. >> no, i don't think anyone had enough training to authenticate anything. >> the company declined a repeated request to go on camera and said sending this statement saying in part we stand behind our authentication process and will work with examiners to make it right and if there is a question about the authenticity of the item purchased we refund the purchase pris upon return. and this is great report you can catch the full report by andrea day on cnbc.com karen, you're a shareholder. >> i am, yes. >> this is a concern i would think. >> absolutely. >> the stock went down in response to the report. >> particularly where real real twice in your name, you know it's somewhat problematic, right. moufr i do think this is a widespread issue for the industry at large. not just them. but they are i think -- i think of them as sort of the leader in

it they need to fix this. i think they will. they will do what it takes about but you know they have some -- some work to do. >> who the other industry players though when you say sfree at large, you mean consignment. >> yukes or some of that is new. but an ebay or. >> i am not -- my wife will buy stuff on real real but for me how do you trust in any of in going forward? is it the handbags was, the trust, the belts that you don't? i wouldn't know how to even think about in with tremendous headwinds, and that the interview -- snepd there is people that don't know how to look at anything forget about just bags it's everything. >> there are to be fair to the company there are teams of authenticators specializing in various things gucci bags. >> the head authenticator is gone. >> this is a classic case. >> i bet guy adami would be good there. >> that's where he buys his

bonkers. >> this is a classic example of growth at all costs because the authenticators copy writers meaning the people who write the blushes about items are pressed to come one daily quotas those were enormous. if you have to authenticate a certain number of products every day, that's a real pressure to keep up with that. >> so you're coming right at the conflict between the ability to kind of essentially produce when in fact the -- look you would think real real's core mandate is to make sure everything is authentic because people will live and die if you look at the stock the numbers reported are god thitd quarter sales up 50% guidance for the margins were very strong. the pullback here is certainly. >> is it buyable. >> it's an existential question. >> is it a buyable pullback. >> i don't think it's buyable right now. but, again, this is -- this is a report that i'm sure an enormousment of a work was done on getting at exactly the authentication process and

understanding it for investors is going to be drilt right now. >> i was speaking with andrea about the report earlier today on the exchange and she madeth point -- because we mentioned ee pay bay as a platform that resells goods. there is no promise made by an ebay but there is inherent promise made by the real real because the founder said we don't sell fakes. and it's a categorical statement. >> which is a problem in the whole thing. how much do they want to press this in terms of customers will they back off a little bit? you were talking about the mandates how much they have to do in a given day. that starts to be a factor as well that's something where you think they have to loosen up on that it's too important for us. we have to have this authenticated. >> two issues. there is a lockup expiration in december on christmas. the pichlt po price was $20 it found that $20 mark. keep an eye on that because of elliot oaf the algorithms and

electronic trading plfrp platforms put in in the trade. >> could this help a tap evidentiary or course. the threat was the provides point for coach or cores bang was competing against lvmh and now a question about authenticitity. >> it would for me, mel. >> it does beg the question if that was pulling away, would the reverse of that -- but it reminds me earlier when you said match has the issue or 20 or 30% of the people fake and you find that something that makes it uninvestable, then that would be for you real real would be uninvestable i think they can fakes it. but no doubt this is a problem. >> all right coming up, twitter ceo jack doorsy throwing serious shade at facebook as the so many wars heat up will they set the drama. >> and shares of jack doors yes, sir a company ttg geinhit. but one investor betting it will pay off the results.

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as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. welcome back to "fast money. facebook officially entering the fight for your living room the social media giant begins shipping new tv portal device today. julia boorstin here in the flesh at the nasdaq with all of the

details. julia. >> great to be here. and that's absolutely rate the portal tv starts shipping today. it's a $149 device, designed for making video calls from your tv set. using facebook messenger or facebook's what's app. the device has a camera as thachs to the top of the tv with a remote it enables them to listen to spotify and watch shows it's about kbungs and the video chat calls as for privacy concerns, the camera which is designed to track movement around a room, can be covered up and the microphone can be turned off now, while facebook will not generate ad revenue from the device at the moment it could do so potentially down the line if facebook can get people to spend time facebook products on the big screen tv that could give facebook access to the fast growing connected tv advertising market spending on ads of connected tvs is expected to grow to

$7 billion according to e-marketer expected to surpass $10 billion in the u.s. a i lone by 2021 this comes after yesterday facebook nouned a new logo in all caps appearing on the different brands to show the ownership of the likes of instagram and what's app now twitter ceo jack doorsy taking a jab at the news tweeting twitter from twitter. now dorsey has been taking aim at facebook lately last week he announced the plan to eliminate all of the political and issue adz from the platform he made the announces announcement from 9 tweet that the moment that they released earnings at facebook. >> the bamgts of the social media kings. first on the portal tv, do we have any sense of whether or not they eye use what is picked by a microphone left on in order to sell adz. >> they are saying for now they are not selling any adz on this device and they're uponing to the concerns by saying, look, you can slide this thing over the

cap on the camera and physically turn off the microphone. so you don't have to worry about whether or not you have to you know like with alexa you can say hey, alexa and tourns on but don't know if it's listening some people unplug them if you want to take the extra step and you don't trust them to disable the camera and microphone you could do that. >> but they're not saying at this point we're not using any data culled from an open microphone. >> they say they are not cloekting data from open microns. they're aware of the fact that people are wary. thn they want to. >> who who would put on the the of the portal tv devices in their living room. >> i already have alexa what's the difference >> you're going to darkside. >> when alexa amazon says it's not listening. it has to be listening to hear alexa. it has to be listening a host of other things i have no problem with this. but facebook is just throwing all -- you got to give them

credit up 48% year to date. they are throwing everything out there. a target on the back for d.c. and don't care anymore they are cramming everything down the channel and see whag sticks. >> the question is what screens are left they own the desktop ads, the mobile ads far more valuable let's make a play for the big zreen. you may not be afraid of the privacy issues but the question for me is i use face time on my phone and works great. i just don't have a need for the communication on my flat screen tv they would have to convines me that's a real value. >> or if quizzed want to see the grandparents and not everyone has a phone. i know everyone kids a kids phone early. but that's how my kids talk to the grandparents on alexa. gives them the ability to call mo he on my cell phone from alexa as well. >> if facebook is doing this if apple wants to own the tv also, this this is a blueprint for apple to go in apple is no enmore not being the first one

in on a particular technology. using this as a pulpit for what they can do to capture the tv. >> funny because steve raised his hand i would walk around my house and look for any of the devices and make sure they were gone. >> sweeping for bugs in your home now >> why wouldn't i. >> you're the whistle-blower. >> no comment. >> julia great to see you thanks for being here. >> thank you. >> up next virgin galactic struggling to take off since the public debut one analyst says the stock could be heading to the moon we're digging into that. we look at the cramer cam, jim talking with the twilio ceo after the company rereleased earnings guidance because of a calculation mistake. the interview coming up at the top of the hour on "mad money. livet e sd athnaaq market site in times square. much more fast still ahead low sugar. tastes great! high protein. low sugar. so good! high protein. low sugar. mmmm, birthday cake! pure protein bars. try lemon cake.

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hey. ♪hey. you must be steven's phone. now you can take control of your home wifi and get a notification the instant someone new joins your network... only with xfinity xfi. download the xfi app today. well back to "fast money" it hasn't been hip to be square the under performing the broader market in 2019 but options trader bet for big things when square reports tomorrow after the bell. mike khouw in san francisco with the action hey, mike. >> square did see about two times the average daily options volume when i looked at this earlier today. implying a move about 8.

% one way or the other by the end of the we can. well above 6.35% averaging the last eight quarters but probably makes sense given the if a accurate that last quarter we saw a big decline in the stock much large rn than implied by the options market right now the sentiment overall was fairly mixed one of the tradeswork, the largest trade actually i was looking a was the weekly 63, of 6 call spread, somebody spent about 96 cents for that a thousand times that's a bullish bet making through the 63 strike price by at least the dollar they paid break around 64 level maybe looking to the 66 level or slightly above at least one trader is making a bullish bet into urngs earnings but making risking little. >> what do you make of it karen. >> i think i did it at 139 maybe sold it at 16. clearly missed the ride. i like the company tp there are interesting things going op.

square capital, square cash is interesting. interesting things in the payment space. the valuation is a little rich for me but not crazy down to get to 100 these a significant pullback i don't own it but i do like it. >> you've also owned it. >> i did owned it from 13. i had better luck in this i didn't sell sell it at the top but sold it in the 70s for me i would need to see more proof about guidance going forward and future fundamentals to get back in. >> how you. >> i've long the stock and been in early level and traded around it i have a core position left. the i think the sale of caviar was good news. the stable zbags arization of organic growth is good i think square cash is excite. stickiness on the platform what raeps remains in the position i like what the company is doing. >> grub hub showed us how cut-throat that aspect of the business. >> finish tech has a little bit of pressure on it. you look to it vc master card,

paypal, great move to the upside now a lot of easing back and square part of that. i think it creates an opportunity. i like square. i think they're doing a lot of things right so i would imagine that they're going to knock it out of the park. >> we have a news alert to get to let's get to leslie picker with the details. leslie >> hey, melissa. here at the greenwich economic for up just got off the stage with avenue capital investor mark zasry i grd him whether he agreed with leon cooperman bleaching the stock market could drop 25% if senator elizabeth warren is elected take a listen. >> i think the best trade out there today is that you should go short the market the minute it's clear that warren is nominee. i don't know if. >> >> the nom zblee. >> the nom sflee. >> or the president. >> the nominee because that's when the market is going to realize there is a possibility. today that's being discounted very, very heavily i don't know if it goes down 25%

but it's definitely going down 10 to 25 i don't -- i don't know what the number is. but it's not going up. >> so now of course this is noteworthy because lazary is a well-known democratic donor having supported hillary in numerous campaigns he described his rational why he believes the market would dpo down with the warren nomination. saying he believes that, you know, she is going to raise taxes quite a bit, that there would be more regulation under a warren presidency. so yet another voice adding to this debate over what a warren presidency would mean for the stock market melissa. >> and the flipside leslie of course is the mark lazary is a distressed investor that would be good times for mark if the market went down 10 to 25% >> exactly won be bad for his own business. but it might be bad for others out there, listening. >> leslie, thank you leslie picker.

it's interesting that he said the short is when she gets the nomination i would say the short would happen even before that when it's clear -- i mean we saw what happens to health care when it looks like she is winning over baden. and this is early early days but health care you could see that chart in terms of the spread between warren and biden and when warren gets ahead health care starts to go down so with all the pulls these tais -- >> you have to see there is so much green between now and then. >> a lot, yeah. >> she doesn't have to be the nominee. we could see anybody be the nominee out of the group you have to wait i like the call of waiting until you get it think about what caused the market run deregulation and lower taxes both of those things. >> you take away. >> are not part of their platform if you're not a -- if you're a capitalist you can't like what's going on in democratic party just can't. >> up next, final trades this piece is talking to me. yeah? so what do you see?

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left. >> chairmanwoman. >> hitting on it a fau times facebook all caps process i like it here. >> couldn't help biese bought shake shack. you aren't in when everyone else is running. >> "mad money" with jim cramer starts right now "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'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 make you some 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. let's play a game. let's call it mercy and no mercy as in market is showing mercy towards some stocks and no mercy toward others. why does thi