banks failed to build on their momentum yet again even though yields rose significantly in the ten-year to 0.67 gold rallied a bit in the morning but closed down 1%, still higher for this quarter but giving up quite a lot of gains as well. we're out of time. "fast money" starts now. i'm melissa lee. this is "fast money. guy adami, tim seymour, karen finerman we'll dive into the numbers. plus, how the big battle over tiktok could come into play during the next round of trade talks with china later we are continuing our weeklong series on the cannabis craze truly blazing higher today on earnings. we start off with record high the s&p 500 six points shy

from its previous record high close on february 19th february 19th, that seems like so long ago. what a different world that was back then. we want to fire up the "fast money" time machine for a trip back there to february 19th. look at that, our traders there on set all together at the nasdaq market site that was fun you might be thinking to yours this is some old-timey footage of people dining together at a restaurant that was february 19th they're all sitting inside a restaurant can you imagine that they can out the theater goers waiting to see a broadway show while we're at it, there was also an nbc news democratic debate in nevada that night. take a look at that. hi, bloomberg, hey mayor pete. they're hugging, shaking hands, so much closeness. anyway, the entire world has clearly changed since february 19th but the stock market is

back to where it was guy, what's your take on this record comeback? >> well, what you didn't tell the audience is you also were playing the piano for this little segment we did. ♪ >> good for you. yeah in a word, incredible. listen, if you watch the show you know i've been extraordinarily skeptical for quite some time and i still remain so. we've tried to point out some trades that have worked and haven't worked you say to yourself, how is this possible given the backdrop of the employment picture, the fact that although a lot of people seem to think that some vaccine is on the horizon, it doesn't really seem to be anything in the foreseeable future then you lay on top of that the fact that s&p 500 forward earnings are trading close to 26 times forward earnings that's a level we haven't seen in 20 years. market cap to gdp is 170%.

that's the one indicator that warren buffett looks at. there are so many things to be fearful of except the fact that the market goes up every single day. it's extraordinary it perplexes me. we'll see what happens in the weeks to come. >> steve grasso, we are here, but should we be here? >> yeah, i think we should be here only because you have the fed, you have stimulus, you have the bridge to wherever we're going right now. the day of reckoning is not here yet. so this is a perfect spot to be. i think the day of reckoning is when the stimulus is s stopped, when the fed is not backstopping, where we're back to stepping up the economy and things are falling short but can you imagine what time would the fed not be there, what time would the stimulus checks not be there that's why the market continues to grind higher, many in my opi.

>> i think there would be diminishing returns to what the fed is doing before the actual end of fed stimulus. >> there will be, but i think we're trying to snapshot february 19, where were we we were at an extraordinary place in the market. even more extraordinary, we've gotten back there. i would say that the fed and the fiscal response for extraordinary and very quick at other times where we've had crises, there was no question this federal reserve and this administration went hard at it i think that is part of what's going on the other thing is think about where rates were yes, by february 19th the long end of the curve was starting to price in some fear of maybe what was going on in other parts of the world. but again, yields were twice as high as they were.

that's another dynamic that i think has been supportive to equities also you have a case here, never in my time picking stocks have we seen a case where investors have been willing to throw out the next year and a half of earnings effectively and look forward to 2022. th here we are. as long as the fed is your friend, that's the most important thing. >> karen, you're in the market, but it has sounded in the past that you're sort of skeptical or a little bit fearful about where we are what makes you the most nervous at this point and what areas of the market >> well, you know, it's important to note we're at the same level, but we didn't make it back where we lost it, right? so many winners and so many losers fang at absolute all time highs. that's been so much of the pull back up. on the flip side you have banks and airlines and restaurants and

retailers. that divergence has gotten incredibly wide. now, a lot of that is deserved what's happened to the airlines is a disaster for the balance sheets, it's a disaster for the business you can't look at it and say, well, they've underperformed so much, they must be a buy i'm sort of afraid for them. that's that that's an area where banks are underperformed a lot i'm surprised they were down today. i looked at wells fargo. i thought the cpi numbers were very hot and we saw the ten-year move i think banks should move on the heels of that. it's not we're back to the same level. it's a very different story of who's done well and who hasn't. >> what are some of the areas of the market, guy, you think should have done better even with this covid dip in comeback? >> i'm surprised health care has

done well. biotech has done well. actually if you asked me six months ago and told me what was going to transpire, i would have said big cap pharma and biotech would have done even better. tim is correct in terms of the fed being your friend in terms of equity prices if you somehow think the fed is your friend in terms of what it's done, and this is just my opinion i think shared by a lot of people, for inequality in terms of the balance sheets of this country, they're anything but your friend. in terms of interest rates, again tim is right in terms of percentage moves ten-year yield should be the most liquid asset on the history of mankind and it's moved 32% from the less than 51 basis points a week or so ago to levels we're seeing now. it's a big deal because for a long time bond volatility was tamped down. it seems to be coming back that was the precursor to some

pretty bad things six months ago and i'm concerned that bond volatility could be the precursor to some pretty bad things again. >> we looked at some of the stocks going higher and higher. ♪ higher and higher >> we thought this would be the perfect time to play america's favorite game, trade it or fade it let's play you know how to play it, i think. square is the first stock up it is up a whopping 68% since mid february steve, what do you say >> yes i was just on a call with the cfo of square today. if you're buying the stock now, you're betting the long-term goal of square, the long-term conquering of the cash app and of small business. for me i was in this trade early. i'm out of the name currently. but when you look at the stock

price, 150s or so to the current level, it's sold off about 14% you're getting a little bit better entry on it i think it's still a buy if you want to wait for it to come in, i agree with that i never even said it, did i? trade it sorry. if you look at international, the revenues there, it's only 240 million against a backdrop of domestic 4.5 billion. i think they still have a substantial way to go intern internationally to grow. >> yeah. i'm going to jump in and say fade it. i just think that it's a great company new york cit company, no question, and i believe there's growth in front of them. but i think a lot of great things are already priced in that cash app, people got so excited about it, but underlying that you have a problem with small and medium-sized businesses

i think the stock price has already grown out of it, so i'd be a fade it. >> >> nvida was strong what we found is that coming through this, gaming has been exploding. data center is very resilient. if you look at bank of america, we just upgraded the stock they've got about 3.65 billion and a july quarter revenue run rate and a better revenue mix. you've actually had more resilience from autos and some of the other parts of the chip complex that they're very involved in. there's been multiple on

inindividual ya has never made since. if you look at where they're competing, it's no wonder they are not only a have, but i think this move of 50% since covid with the same trends in place, i think, you stay there. i'm reluctant to do that based upon valuations. i think n individual ya stays the course. >> domino's pizza up 33% since mid february guy? >> kudos to steve, who a couple years ago talked about domino's being a tech play and not a pizza delivery play. that moproved to be correct valuation is probably stretched. you're threw earnings, 31 times. i think a lot of analysts have a $400 price target on it. that's effectively where we are now. if you enjoyed the move in domino's, i say fadeit in term of tim's quip about the mets, i could be taking the ball

every five days and met fans would somehow think they still have the best rotation in baseball because that's just met fans please don't at me. >> target notching an all-time high today shares are up 14% since mid february karen? >> i think it was up partially on a jp morgan call. i really like the story of target i think they've done a great job in the pandemic. but i think more importantly the longer term story is they're going to be able to keep a lot of those customers that they got and they've had some margin pressure during the pandemic, but i think they'll be able to work through that. i think their mix will be a little better. i think their expenses will come down for the longer term, i like target if i could throw in a would you rather, i'd rather have walmart, but i do have both. >> so unexpected coming from karen finerman, going rogue. steve grasso, what do you say? >> i would be a fader of this

one. this was one that i believe we unanimously traded on the desk back in april when it was crossing over $100 then $110 we said buy it, then 115, 120 i think it's overextended. i think it's flattening out. maybe with these price targets that jp morgan is putting on it, maybe you have a couple days left in the engine, but i think you want to be a fader of this it's moved too far too fast. we have a news alert here on the stimulus talks >> reporter: now hearing from treasury secretary steven mnuchin on a phone call he had earlier today with house speaker nancy pelosi democrats have said that mnuchin made an overture but that the administration was unwilling to budge from its position. mnuchin now saying that statement is not an accurate reflection of the conversation he said that democrats signalled they are unwilling to keep talking unless the white house agreed in advance to a $2

trillion package he went onto list areas where the administration is willing to keep negotiating including schools, child care, hospitals, rental assistance. but the treasury secretary saying the democrats have no interest in negative nati negotg we are still at stalemate despite these tendtitative attet at talks. >> for this whole entire time with stocks marching to record highs, the assumption is a deal gets done. does this throw any water on that >> you know, i think the assumption is that a deal still gets done i agree with you, it would throw water, but i still believe the federal reserve is the most important dynamic here i think there's room for the administration for the president to jawbone to throw more benefits and be there for folks that need it it's part of the white house's

strategy i realize congress is in a very different place. but i still think that the fiscal that we're expecting in terms of a broader infrastructure plan in other places, i think is not what the market needs right now the market needs the federal reserve and they need that the consumer is going to be supported or the unemployed will have additional unemployment benefits. >> with stocks sitting near record highs, where does the market go from here? what are you watching, rob >> a lot of stocks have run an awful long way i can see why people would be concerned about the market potentially rolling over i think the key point is when you step back and look at the long-term up trend for the market, it continues to rebound off that 200-week or 4-year moving average that structural trend is still very much intact we can get wiggles along the

way, but the market cycle, we had low in 2020, one in 2016, another one at the end of 2011 it's very consistent with this 4-year cycle we think there's more upside through year end and 2022. if you look at a daily chart of the s&p, we've come a long way we're getting close to the highs. you wouldn't be surprised to see some sort of wiggles we have back to school issues coming there's debate about the consequences of 250,000 folks at sturgis motorcycle rally when they get back. and then there's the election. there can be wiggles but if you look at the daily chart, there's still quite a lot of support around the 250-day moving average that's about 5% down from where we are in the 200 days there could be some hiccups but the bigger picture is still higher for longer. we look at the relative performance on this daily chart. that relative performance of stocks to bonds is starting to

move out of that 2-2.5 month trading range. >> you've got two ideas, rob, that you want to run through >> there's a lot of rotation going on we have a lot of secular growth working. i think names on deckers np cine consumer space coming out of this multi-year trading range with highs and at the other end something like a dollar tree down and out, but really when you look at that profile it's been in consolidation for almost four years i think there's more upside in both those names >> guy, i know you've been talking about dollar tree for a while. >> dollar gen, dollar tree. >> all dollars. >> dollar store, all of the dollars. you want to cover your bases, as

they say dollar gen has been a monster. dollar tree has lagged 117 i think was the october high given the environment we find ourselves in, it's reasonable to think we get there but i'd rather say long dollar general than pick the lagger in dollar tree. cover your bases, mel. coming up, we've got our eye on a couple of big earnings movers this season later, is there a doctor in the house? the latest product seeing massive shortages due to the pandemic ♪ come on in, we're open. ♪

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and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today. whaelcome back to "fast money.

we have earnings alerts on cisco and lyft kate rooney in cisco >> cisco is beating expectations for the prieor quarter but guidance falling short of wall street estimates fourth quarter revenue at 1.5 billion. still better than expectations the guidance is weighing on shares of cisco after hours. the company forecasting eps about 5 cents shy of what analysts were expecting. they're looking for another revenue drop of 9% the ceo saying on the call the results reflect, quote, the ongoing challenges of the current environment. the pandemic has had the biggest impact on cisco's core business of selling routers and switches. that was hit by enterprise and

commercial clients reining in spending on the bright side it has triggered a massive rapid shift to remote operations and automation cisco is changing up r & d investments to pick up more areas that accelerated during the pandemic, 5g and wifi as examples cisco announcing about a bill doll ion dollars in cost cutting. cfo kelly kramer to retire >> what do you make of this? >> i'm a cisco shareholder i have often touted them as being value in mega cap tech maybe there's a reason for it. they've been slowly trying to shift from a hardware reliance to software especially on the

security side. which to me i thought would you say going to be a driver to growth margins and has been slower but still very much a theme. great eps, softer guide, that's really unfortunately what you don't want to hear talking about cost cutting and saving a billion dollars is not what you want to hear at a time there are folks in the enterprise space cleaning up this is frustrating. around $45 is abpr pretty good level of support >> they seem to be a little bit on the back foot to hear they're now increasing research and development on thing s like 5g and wifi, they also have web x in an era where everybody is on microsoft and zoom you don't hear i'll web x

you. that's not part of the jargon anymore. >> that ship has sailed. that's unfortunate tim is talking about trying to shift to make of less hardware, more software and services, obviously trying to get a better multiple there i'm kind of surprised the stock is down as much as it is it is a value name it's not like it's trading at a crazy multiple they do have a fantastic balance sheet. i don't own it it might be a little bit overdone on the downside i don't know the value girl in me is starting to maybe get interested here. >> we're going to hear from cisco ceo chuck robbins tonight on "mad money. deirdre bosa has the highlights from the call? >> shares turned lower in the after hours on this comment from

cofounder and president john zimmer. >> we may appeal this ruling and request a further stay if our efforts are not successful, it would force us to suspend operations in california >> this relates of course to the california ruling earlier this week that will require lyft and uber to treat drivers as employees. the stay on that injunction expires august 20th. uber's ceo has raised the possibility that uber should shut down entirely too if their appeal is not accepted by the court. within just over a week, requid sharing in california could be shut down with imp kalications riders, drivers and their income during a recession california represents a major market, but the hit perhaps not as big as turning 100,000 plus contractors into employees

zimmer also just said on the call that california makes up 16% of total rides lyft is keeping its focus on ride sharing despite the huge hit to the business amid the pandemic revenue dropped by more than 60%, but the company also cutting costs substantially so even if rides don't fully recover and they see 20-25% fewer rides, a leaner structure will keep them, they say, on profitability on track for q-4 of next year ceo logan green said he is encouraged by recovery trends. he said rides are up nearly 80% in july from april and 12% growth from june to july that's coming off a very low point and a lot of different factors in play here, but they are having a leaner cost structure but regulation remains a big risk factor. >> just to be clear, when they talk about shutting down business in california,that would be a temporary move until he hears the appeal, is that

correct? >> that actually happens if the appeal does not go through or there isn't a further stay potentially you're looking at ride sharing being shut down from now until the november election >> wow. >> that is when uber and lyft are putting it to voters on a ballot initiative. >> steve grasso, imagine if 16% of your business were gone from now until november >> it's a problem. when you look at the stock, the 100-day moving average is 30.95. lyft is currently trading at 30.10. this is almost a lottery ticket at this point. i wouldn't be willing to take a bet on it, but we understand why management is making it such a dire, extreme situation, because it is. they don't want to tip their hand for me going into the appeal, they're saying they're going to be crushed, so they might be leaning towards saying their business in california is going to be zero, but i think there's

probably light at the end of the tunnel you have to be risky to take a shot, though, here i would wait for it to trade above that 30.95 level which is the 100-day if you want to be conservative with your money. m ccoming up new developmens over the big battle for tiktok later, we're getting in the weeds again for the third part of our cannabis craze series the ceo of true leaf is with us. we'll talk about it all when "fast money" returns like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected.

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welcome back to "fast money. we've got new polling on the big battle over tiktok

the latest survey showing only 15% of voters in battleground states feel favorably toward the app. reuters saying president trump's executive order could go as far as forcing google and apple to remove it from their app stores. you are a current investor in apple as well, roger the perfect person to comment on this what would that do to apple? we're not talking just about apple but potentially wechat and the impact for tiktok and the impact in china on wechat would be tremendous in terms of sales of handsets. >> i think this is an issue for apple for a slightly different reason than people believe removing the most popular teenager app from the app store would obviously be undesirable from apple's point of view but it is no different than the situation for google with google

play china is an unbelievably important market for apple given the increasing depositions betwe tension between the u.s. and china, apple risks being a pawn in that battle that makes me nervous. i think apple has done an amazing job of balancing itself through all of that but things are getting really weird right now. the issues that we're raising about tiktok are actually largely true of google, facebook and also data brokers in the united states. that is, china already has our data that's not what this is really about. i suspect that deep down underneath, sarah cooper amay also be a factor. >> in terms of how apple navigates this, tim cook obviously has a good relationship with the trump

administration, also has a pretty decent relationship with china. i'm wondering how they sort of get through this and what ta. >> i wish i knew the answer. the obvious answer would be for the united states to have a less emotional foreign policy relative to china. i don't see any sign that's going to happen in the near term so i do think we need to be cautious as investors about what the risk is here you know, i think apple is amazingly well-positioned for the issues that are going on right now. the probability of greater regulation of privacy favors them the probability of greater regulation of other aspects of internet platforms, particularly safety, that also favors them. but the klechina thing is unknon i don't want to pretend i've got a crystal ball here. i just know that apple is in a unique position and it has work to do to make sure it doesn't

wind up inadvertently being on the wrong side of it. >> the stock being where it is today, if we do find out that the executive order will include actions such as forcing apple to take down wechat from its app store, do you sell apple stock >> so i don't believe that's going to cause a change in my behavior i think the uh is issues go well beyond what's happening with apple. optimizing for shareholders caused us to move labor to the lowest cost places around the world. china was a huge part of our economy. apple has political risk because it's so visible, but i think this is an issue throughout the economy. china has shown in the past a willingness to target its responses to trump's actions very strategically at places trump needs politically. you can imagine they have a lot

of power right now to target red states either in agriculture or other things i don't want to pretend i know what's going to happen i'm very nervous about it. i think investors need to pay attention to, as i'm trying to >> guy, that brings us straight to the trade talks which are supposed to happen at least virtually sometime this week roger mentioned agriculture. china still has more than $100 billion worth of products they would need to buy in the second half of the year in order to be compliant with the phase one part of the trade deal. >> i want to be clear. i think there needed to be an administration that took on the chinese and this administration decided to do that i think many people would say correctly. my point has been not that, but the fact that the market is looking past the risks associated with that to roger's point, i don't have a

crystal ball either, but i do think the chinese will play this in the election and i do think some shoe will drop at a certain point that potentially could be, well, could be negative for the broader market i understand why apple's in the cross hairs but i think this has broader market implications as well as we sit here and we started the show with the s&p at all time highs, nasdaq, apple adding a trillion dollars of market cap since march lows everything appears to be fine, so why worry but you have to point these things out because they definitely lie in wait, in my opinion. >> karen >> i agree just think of how iconic apple is and what a perfect target for the chinese to make a statement. in the past i've been concerned about china trade issues and yet every time the market doesn't seem to care about all i wonder if the market seems to think we'll have a biden administration, if they think it

will be an easier time or we'll have a less confrontational relationship with china, which the market i think would like. i'm long apple i'm staying long it wouldn't shock me to see some sort of retaliatory measure. what's more american than apple? coming up, the latest twist in the kodak saga. new details in the company's lobbying activity ahead of that multimillion dollar deal with the government

welcome back to "fast money. shares of kodak taking another leg lower today as the drama

around the company continues to swirl. the latest twist, kodak significantly upped its lobbying spending before being awarded the $765 million government loan according to reuters kodak spent $870,000 in lobbying efforts between april and june compare that to less than $5,000 it spent in q-1 of 2019. as we've been reporting here on "fast money," the rise in kodak shares before news officially broke of that government loan sparked concerns of insider trading. kodak's ceo said he supports the government's decision to put the loan on hold until an investigation is complete. karen, you have puts in this stock. what is remarkable is that it's nowhere near the level it was trading at prior to when the loan was announced >> right it's 500% more than that it's interesting to me that's a great return on those

lobbying dollars, right? $800,000 i think the ceo had to say that. i don't know what else he could say. disregard all that options rights, give us some money anyway i think it's sort of become an embarrassment to the trump administration and they probably should just -- i'm speaking as someone who's long puts, right they should just let this one go and not fund this loan it's too noisy every part of that option is just terrible. >> tim >> it gets back to even if they get the loan, are they the right company to be producing these pharmaceutical -- >> a photography company once upon a time tried to be a blockchain company, now back to a photography company, trying to be a generic drug maker is the right company? >> look, this is a company that

has tried to reinvent itself multiple times since the 2012 bankruptcy it's hard for me to understand we don't have enough of a show to talk about what lobbying efforts are like and the impact and how this shouldn't happen anyway if you look at the trading volume on the stock, it went from trading by appointment to trading 250 million shares at its peak, you know, two weeks ago. it's still trading about 9 million shares, which tells you there's an extraordinary backdrop. coming up, it's weed week on "fast money. truly lighting up after a smoking hot earnings report, ceo kim rivers joins us. ♪ you should be mad they gave this guy a promotion. you should be mad at forced camaraderie.

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buy now and get two days free at the parks. restrictions apply. welcome back to "fast money. it's weed week here on the show. we're doing a deep dive into the cannabis craze true leaf shares went up 10% after the company reported record revenues in the second quarter. we have true leaf ceo kim rivers great to have you with us here on the show. >> thank you so much for having me. >> what a quarter. sales were up 30%. the average customer visited a true leaf store 2.7 times a month with the average basket being about $125 a visit i'm wondering how sticky do you think that behavior is or is part of that because of the pandemic >> well, we've been tracking patient metrics for a very long time it's something that we report on

quarter over quarter if you look at the trend line, we're actually stable from q-1 to q-2 on that basket size as well as that repeat visit. we have very, very loyal customers and our loyalty rate is at about 76%. that's also up quarter over quarter. we really pride ourselves in having that loyal customer base. >> you got total of 57 stores nationwide 55 in florida and 50% market share in that state in flower as well as concentrate. you're a medical cannabis dispensary let's make that clear to the audience in terms of how much more you can penetrate that market, what would that be driven by? is that more patients, doctor awareness, how do you do that? >> the penetration rate in florida has been interesting when you look at the overall market size in florida, it actually has been growing at

astounding rates when we entered 2020 we were averaging 2,000 to 2500 patients joining the florida medical program on a weekly basis. last week we added 7,000 patients to the registry here in florida. we're at about 380,000 patients program wide in the state of florida. we have about 21 million residents. that's under a 2% absorption rate arizona and others top out about 3.5 or 4%. we have some more runway in florida and there's additional catalysts ahead. we have the potential for adult use or recreational coming on board at some point in florida plus the adoption of edibles rule which is we're looking to happen by year end which we think will drive market growth in florida. >> tim >> great numbers the gross margin is extraordinary.

77% is something that's hard to fathom i realize that the tax issues on the retail level, we can't get into it here but it's very difficult for cannabis companies from the irs perspective being the dominant player in florida and choosing to go narrow and deep, can we expect to see numbers stay that high? >> great question. i think absolutely i would be here to tell you that economies of scale and being able to really reach and have an increased capacity is certainly part of that along with driving official s efficiencies across the supply chain. certainly you may see margins come down once we enter into the wholesale market that margin is 70-75% and will remain attainable. we have win of the largest

cannabis in the country. we distribute to our 55 locations throughout the state of florida as well as that next day delivery having that scale drives margins but also making sure we have that repeat customer and we really are getting to know our customer at the point of sale is important as well. >> kim, great to speak with you. kim rivers of trulieve vertical being seed to sale. you grow and then you sell it. the gross margin was a staggering increase up 500 basis points in the quarter. >> they're the most profitable company right now in the market. on 120 million sales they did 60 million in ebitda. a lot of people have been critical of some of the players. we're referring to the big four this week on the show. trulieve is very different they decided to go after florida and florida alone and they

dominate florida i think people will wonder when they're going to make their next move they have a couple dispensaries outside of florida but they are the florida play and it has led to high profitability and free cash flow. >> the ceo of green thumb with us tomorrow. coming up, ourehow to play the p risk what happens when a wireless carrier

puts its customers in charge? well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today.

welcome back to "fast money. check out some major movers in the chips today. amd qualcomm and others the day's big winners. the etf that tracks the space logging its best day of the month finishing a few pennies short of a record intraday high. is this trade back on track? steve? >> we've had value outperform for the last three days so friday, monday, tuesday. usually on average it's been three-day outperformance of value and then tech takes the lead again i would think you'd start to see

money flow back into tech and the semis. we talked about nvidia that has the best chart in the space. amd seems like it's rolling over believe it or not, intel seems like it's bottoming here i would start to put some money to work in intel that's been out of favor, out of sorts in the whole environment and the whole sector. >> guy >> khouw is about to come on qualcomm to me is probably still one of the most interesting. i agree with steve on amd. hopefully you get an opportunity to buy it back in the low 70s. intel is not going to go up 15% in a day, but you might get in here and grind back to 55 or so. >> one of these chip stocks reporting earnings after the bell tomorrow. options traders are betting the results could push the name even

higher mike khouw has the action. >> so yeah we're taking a look at applied materials the options market is implying a move of about 4.6% inline with the 4.1% or so the stock has averaged over the last eight quarters we saw a lot of that activity were buyers of the weekly 65-67 call spread. they were spending about $1 on those spreads. those were bullish bets. they were basically risking a dollar to make a dollar if earnings turn out positive this is a what the quick point i would make is that the stock also did rally today and closed not that far off that $67 price target they had in mind. >> mike khouw, thanks. up next, is there a doctor in the house

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welcome back to "fast money. the pandemic sparking a rush to all kinds of comforts, especially comfort foods and perhaps sometimes a different kind of doctor is needed dr. pepper reporting a shortage of its namesake soft drink due to hoarding. the company acknowledging the problem in a tweet, writing we know it's harder to find dr. pepper these days. we're working on it. hang tight karen, i don't know what companies do to prevent this sort of shortage in the

marketplace. people hoard, right? >> you know, you buy them when they're cheap and then later, you know, there's demand for them you know, it's just -- i know a guy. that's basically how that happened >> by the way, that's 18 cans of dr. pepper. >> i got some fresca too. >> fresca is hard to find as well >> how about fanta. >> which flavor? >> tab >> mr. pibb is a stand-in for dr. pepper >> i was around when they created it by the way, hockey i think it's a mastferful pr move. >> drinking some dr. pepper with

my domino's pizza. >> i like wells fargo here good value. >> steve >> sonos going higher. >> xilinx. >> thanks for watching "fast money. see you back here tomorrow at 5:00 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 trying to make you money. my job is not just to entertain, but educate and teach you. call or tweet me @jimcramer. we know, we know, that splits, stock splits create no val