i'm melissa lee, and this is "fast money. one of the hottest ipos in the year falling in its first day of trading. we're breaking down the action of robinhood tim draper with his take despite a bomb of a gdp, and later a streaming smackdown.

sca sca scarlett johansson sues disney. let's get straight to deirdre bosa, who has the details. >> melissa it's that top-line miss, and its revenue guidance for the third quarter that has that stock sinking in the afterhours. i also just off the phone with amazon's cfo he said the step-down in growth is likely to persist for the next few quarters. of course, last year during the pandemic he said once he lapped growth on may 15th, see the business growing mitt teens perks. he also said that they are still aiming to return to the office in september and amazon will not be mandating vaccines this is a bit of a depar, but

keep in mind amazon is the second largest private employer in the united states a vaccine man dade from the company would be a much bigger deal, perhaps also trickier. he said wages are one of the biggest elements of inflation right now. he told me the step up was due to demand bouncing back. the call, as you said, melissa, kicks off in about 30 minutes. this is the first quarter with andy jassy on the helm bezos was not on the call for years, we'll see if jassy is back to you. >> this is the last quarter under which bezos was the ceo. this is bezos' ceo, even though jassy is at the hill many. >> exactly he took over at the beginning of july, which bezos went to space. this is a tough quarter, maybe, for jassy to talk about. this is the first revenue miss

since 2018 going forward, it would be great to hear how he plans to tackle this more difficult pertain of comps. >> good time to retire deirdre, thank you keep us posted. guy adami, your first take these are the questions we had for all of the tech giants how will it deal with very tough comparisons? a lot of similarities here >> the setup in earnings was not great. amazon three days ago, look at where it is now. i looked at this quarter and said, wow margins should have been in line, and dan said, it's probably the product mix he's spot on

the guidance is just horrible. the question is, where do you get back in the stock? last few quarters, failed both times, traded one time down to 2900 i don't think we're going to get there this time, but probably there's further room to the down side. >> the questions surrounding growth, let's be clear amazon still has amazic growth, dan, but the question at which it is right now, is that growth priced in? is it priced in for a few quarters ahead of a slowdown >> maybe not where it was just a few it just kept on going. so to guy and karen's points, it's just the expectations are really high. you have to go back and look at 2020 this is a company whose sales grew 38% in 2020, okay that's why those comps are difficult. 9 kreismt fo just told you

they're seeing this dece deceleration i think the stock will figure it out. investors will be happening toward those levels. it's down 7%, that's a massive move for a $1.8 trillion market cap, but you look at that consolidation. the reason for the year to day by amazon is smart investors were already pricing this in to me i don't think there's any big problem. i think there's probably an opportunity to buy this thing if you get back toward those levels that the tom stock had run 20% from >> make maybe that consguide wa w -- karen, what did you make of the quarter? >> much of what guy said the guidance doesn't really bother me. we have seen them be conservative with guidance many, many times

it was more i want to get at the margin question, which dan and guy both brought up. i want to see what really went on there i know there were some addition at expenses. the free cash flow looked a little odd to me i don't know if that's noise i'm not sure what happened there. i want to see that i don't know that the story is very different at all here one part of the story -- two parts, actually, that were good, were aws that was very nice growth, a good beat there. and tieadvertising, which is a smaller part it makes me think on a more macro, about where we are in the pandemic and the reopen, right is this a change of behavior i know we'll get to pinterest, but that also speaks to that same point i wouldn't be surprised if we

siam zone trade down, but what are the other -- you know, are we -- the reopen trade, something like a peloton, is that going to be under pressure, if this is really happening? >> not only did the engines of growth, aws as well as advertising, the sales growth there not only beat consensus, but also showed a sequentially acceleration that's important those are the areas that investors are invested for, not necessarily whole foods. how do you interpret this quarter with where the stock is? down slightly, it tells you a bit on the price action i think dan sounds surprisingly enlightened on this. he says a lot of enlightened

things, but he sounds like he's saying the sky is not falling. hey, that third quarter, we're about to go into our second covid comp for amazon, and it's not going to be pretty the operating income will be 75 to 80% dead. remember also, the aws wasn't the disappointment here, but in the past, that's really the place where people have been most focused if you're amazon, you can't miss the revenue line, but i think these are great, great times to be amazon. it's not getting worse for them, it's getting better. >> pause on amazon we have breaking news on procter and gamble sara >> announcing a new ceo. it says that john muller, the

longtime cfo of p & g will become the ceo this is considered a pretty seamless transition, muller has been at the company since 1988 he was cfo for 12 years, more recently blasted to a bigger position, where he oversaw all of the emerging markets. this has set up p & g for success. it's been taken market share, so muller is kind of a natural fit to take -- if you were paying attention if you were an investor, you won't be so priced perhaps surprised on the timing, david taylor did what he set out to do. he restructured the company and set it up for success.

it's a good time to step out on top, at a time when p & g is growing market share remember, they had that nelson pelts, where he finally joined the board, they totally reorganized that, and that's helped them. it's also dealing with inflation. the company reports earnings tomorrow morning, so this is coming at a time, obviously right before then, when they can get on with investors and talk with them. i assume that investors and analysts would be happy about this news. muller is no strmoelleh is no stranger they usually stay pretty close to home in cincinnati, and moemoel

er has been there for a long time we'll bring in "fast money" friend gene muenster great to have you with us. a lot of this is being made on the back of the perceived sales miss you make an interesting point. >> we should have listen to do their guidance they hit it right in the middle. they'll grow it 18%. one of the most recent quarter, that means they guided down 8%, so just a level set there, when we talk about these difficult comps. they just guided down by 8%. we need to think about what the arc of growth is for next year if you start to take tim's play into action, which is looking at

the stack in the back half at 2020 or 2019, and that two-year tack effectively you probably i would say i would like to continue the thought, in terms of the guidance and what this means together there's a bigger question at play here, and you've been tou touching on it around profitability. as you said, melissa, the margin is a big deal. amazon doesn't have tech-like margins.

so i think there's a bigger question for jassy here, what will you do to show some margin improvements in the years to come. >> do you think this is a deliberate reset as jassy's first quarter as ceo >> i think that played into it they do guide down on half of the occasions but this is at 8%. i suspect he probably influenced some of that i can say, if i ever had the honor of having his job, i probably would have guided 15% below the street to make myself look good the next few quarters. >> how about aws we talked a bid about ad revenues, but where should we be

focus? where are you focused? >> i'm focused on, i guess, curtain number two, which woul be a round of efficiencies we talked about the coe-commerce system had 13% unit growth a big slow down there. as you said, aws has been rock solid. the one thing that impacts all of the revenue is around margin. i think that an area that i hope they talk about is automation. amazon has 1.2 million employees. the majority of those are in logistics. if you fast-forward this, i would like to hear the company adopt a position about, you know, putting people first, but also finding ways to greater automate the business. it is a massive operation that is ripe for automation

>> gene, always great to have you with us. tim seymour, how do we digest this >> well, looking amazon came into this under-owned and under- under-loved i'm extremely comfortable with the ability they can pull levers, and i think their subscription services from a trading perspective, look, this is a company, you have that five, is not in the top echelon

>> guy the last two quarters were extraordinary, i think by any stretch. both times the stock traded up significantly. and oh, by the way, the guide was disappointing, so you have to ask yourself, if the last two quarters had sold off, what happens now? maybe we're finding some equil equilibrium. >> 14 minutes until that kicks off. in the meantime a news alert on disney julia boorstin has details on that. >> scarlett johansson is suing disney, alleging her contract was breached when disney simultaneously released the film on theaters and disney plus. she says her salary was based on box office performance, "wall street journal" estimating that the simultaneous release could cost johansson some $50 million.

now, disney just bresponding in statement, saying there's no merit to this filing the lawsuit is distressing in its callous disregard for the effects of the pained. disney has fully complied, and furthermore, the release has significantly enhanced her ability to earn additional compensation s the film grossed around $80 million at the u.s. box office, soot $78 million overseas, plus $60 million from home purchases opening weekend the box office then felt 68% in the second weekend, the biggest ever first to second week drop perhaps the adhome option

cannibalized the box office option if talent is compensationed more in line with streaming, in other words, then does that make that whole notion of a simultaneous release, or an earlier streaming release, much less profitable? >> not necessarily we also have to remember that each of the studios is doing this differently so universal might say, and they probably have said, basically the box office bonuses that concentrators and music stars get, they would sigh that -- the number of sales they can do.

disney is also doing paid downloads remember you have hbo max, which for this years is giving the movies away for free, so you can't give a percentage of streaming subscriber revenue, but each of these studios is doing things differently they know they need the movie stars, but maybe the day and end of huge box office may be coming to an end. >> i think i would be interested in the backdrop of how this became a public spat it's my strong position they really wanted to settle. this didn't do anything good for either of their reputations if

you see how netflix models is, with the deals with shona -- shonda rimes, sand that's it big money up front, you don't ow better for talent in terms of the value of money, right? dan, what's your take on this whole thing? >> ply take is "black widow" chose violence this may have something to do with the fact this is her last movie with marshal marvel. you can empathize with her a bit. this was her solo act. here, i think it does change the dynamic for talent going forward. i just heard that report from

sara eisen earlier today that keyry irving came out with a statement about nike's kkyrie 9s they can speak directly to their fans and have a lot more say coming up, the robinhood reality check, the stock falling in its debut plus you'll hear from tim draper, one of the company's early investors. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us.

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okay chill, 'cuz mine's so fast, no one can catch me. speed? we'll show you speed. wow! -that's nothing... ...because my internet gives me a flex 4k streaming box for free. impressive! that's 'cuz you all have the same internet. xfinity xfi so powerful, it keeps one-upping itself. can your internet do that? jewel gentleman? >> pinterest may have beaten expectations, growing revenue 125%, but the shares are pl plumplu plummeting down on user growth

they were expected to end with 482 million users, but it lost 24 million monthly users, ending with 454 million while third quarter revenue guidance was in line with expectations, the company warned that headwinds continue into q3 sake, quote, the evolution of the code individual 19 pandemic remained unknown and we're not providing guidance while we have lack of visibility into certain key drivers. the company did say saying that mobile users are much more engaged and there is engagement around e-commerce in particular trying to reassure investors that their.

>> julia, thank you. >> a lot of people turned to pinterest, because they were looking for things like masks, which we largely don't need anymore, guy like you have down. >> daily. >> should you be shocked that there's a slowdown >> the market is clearly shocked. i don't think it's coincidental that the stock topped out when you got peak news about the vaccine. tim can talk about rpu all he wants, but international is where you have to look people are very myopic in user growth $57 was the low, basically, in mid may. that's probably where it will find a tomorrow i think

tomorrow on monster volume, i think there's a good look there. >> you want to be users go up, engagement increase. >> you do, but i think other other side monetization was strong they're not helping themselves today by backing off third quarter guidance i think, once again, it's another one of these companies do you really think the world of pinterest, yes, they had a particular focus in the last 15 months of covid, but no question there's a service there are trends that will not reverse a well-positioned company, not cheap. guy is right 80% of the business is international. i don't own it, i think it's

expensive, but i'm not surprised to see the response here >> karen, quick a pins >> it's expensive going in for the same online media play facebook is so much cheaper, even after today's move in pinterest. up next, the stock torrie of the day. robinhood, falling on its debut. tim draper, and fac"fast money" back in two. ice works fast. heat makes it last. feel the power of contrast therapy, so you can rise from pain. the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq

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cnbc's leslie picker joins us with the details >> that decline comes after robinhood priced its shares at the low end of the range both from the institutional and the -- now, robinhood broke into the mainstream. virtual to discuss to halt trading in certain names that notoriety didn't stop more users from signing up with robinhood nearly doubling its net cumulative fund since december the bear case really took center stage today, encompassing the multitool of litigation risks,

as the popularity of trading things like dogecoin, for example, fades volume today massive that's nearly twice the offering s size. >> pretty remarkable leslie, thank you. leslie picker. dan nathan, do you think this is any sort of ver on the future of this retail investor boom on robinhood. >> i think concentration of risen, but also crypto, we know that -- those are not things that i think you will want to bank on any time soon. the thing i struggle with on

this company, what did they innovate on? when you looked at the s-1, i thought the average size of the accounts and the sort of trading they're doing, it's not likely to be the thing they're able to build on they're going to have to offered more services and grow with these clients if foss clients' balances do grow is it a referendum on what people think yeah, but it's just not for me >> they brought the other that was revolutionary. is there any else that is revolutionary?

it's a complete 2021 thing -- but apparently you hold something, and you don't let go? it was literally trading 33 are they revolutionary in some aspects, yes danny moses called me before he said this was the worth-performing ipo of its size since mf global. that's pretty interesting stuff. >> tim draper, early investor of robinhood, great to see you again. >> great to talk with you. i don't get to see with you, but i get to talk to you did you sell any of your shares? >> not a share

i love that i'm on a show called "fast money," because i'm the slowest money there is i made my invest in robinhood eight years ago. still holding on they got all they retail investors involved in the stock market it drives create activity. it gets people fired up. it gets them all on board. >> we at cnbc always like to see more people roofed in the stock market, that's for sure. the more the merrier, we think in terms of robinhood's growth, they caught lightning in a bottle here. we had -- all of this

contributed to the massive growth that we saw in accounts and in the activity of trading why should we believe that that is at all sustainable going forward? >> i think once people get the buck and want to be investors, i think they said to stick with it it's a great way to put money to work you know, people go to casinos, and every dollar they put in, they lose about five cents every minute or two. in the stock market, on the hold, they grow 15 percent and that's you true for 150 years. whatever it was, it's brought more people into the investment business

i think that's only a positive >> aren't you worried about the concentration of retvenues comin from payment for overflow? even though it's existed for a long time, it's something that they also collect, but for robinhood, as a concentration of revenue, it's much, much greater. are you concerned there would be any regulatory action that will endangermodel? >> the investors of robinhood want zero fees they want zero commission if that revenue went away, robinhood would have to somehow charge commission. i mean, i think you have a very

well-balanced -- >> what if we said that facebook's advertising came from four customers that's basically robinhood the payment for order flowing from four firms. that's a concentration win a concentration number, from concentrated players. >> true, but they will constant -- they will need that information to run their own businesses i think they're locked in. >> i think it's fantastic. >> i do, too tim, thank you for your thoughts what do we think what's interesting with this whole phenomenon, robinhood has enabled the traders to come into the market to see how the system is set up, and now they don't

like payment for overflow. it's an interesting full circle that we're witnessing. >> yeah. if you think about the -- again, the profitability of the firm and where they're going to be tomorrow, look, the fact they have a very strong brand and very loyal following, if you're any bank or brokerage or asset manager, that's critical they built a lot of that dan brings up a great point in terms of how influential and how much size and monetization for an account more importantly, at some point this is not going to be a bull market at some point there's a lot of folks who are investing not on fundamentals, and investing mostly on, call it, a community of mindset that isn't always the best way to do it. i think that will hurt this firm it's been a very sweet spot.

i think they built a brand they have a business that's sustainable, but will be competing with some of the most sophisticated folks in the world. >> what do you think about robinhood, karen >> i don't own it. the questions i would have wanted to ask is exactly what you asked. it's not so much that i don't think the four buyers will want to buy it, but is there a regulatory environment coming soon that doesn't let them buy it but another question are there's enough after community there that says we'll pay a commission, that's fine, if they need to, because robinhood would need trevenue? i don't know if they would be

helped out like that i don't get it the payment flow is problematic. the cryptocurrency exposure is -- it's turbocharged to dan's point. we've got a huge interview coming at the top of the hour. cramer is sitting down with robi robinhood's ceo vlad tenev we'll inbrg you the under the radar name when "fast money" returns. of self-awareness you now hold in your hand? yeah-h-h. (laugh) keep your downstairs dry with gold bond body powder.

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we're watching shares of amazon down 6.9%, after company's sales miss in the second quarter and weak third quarter guide. the conference call is underway, andy jassy has not made any comments we'll bring you all the headlines. meantime, coming up, this stock topping the tape we'll bring you that name. later, amd continues its post-earnings high, the stock hitting new records today. we'll break down that action when "fast money" comes right back

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but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandcastle crumbles. you can't beat turkey hill memories. welcome back to "fast money. shares of lending club topping, as of company updated the full-year revenue by, get this,

45%. this comes after they reported the most profitable quarter before the bell. they have just one buy rating on this street. karen, you flagged this move what's your take >> i was astounded what was that company, king digital that made candy crush? they upped their -- they make little loans, packages and sells them their guidance is up 45%-plus is astounding i don't know what that says about the customer base or consumer in general. it tells me there's a thirst for the securities they create with those loans, which i think is mostly hedge funds the credit quality was pretty good that's astounding. >> wedbush was say they beat on everything that was good

tim, should we be skeptical? >> no. i think what happened here is, first of all, they very much tempished guidance they bought a bank lender last year and they guided this wasn't going to reap benefits they turned it around a lot feaster. they brought the expectations forward 18 months aggressively they're also ahead of a lot of these nio banks, and a lot to carry forward. i think this is a combination of a company that's moving faster on a core asset in bank lending, and expectations were very, very soft the folks i talked to that own the stock think there's more to go coming up, what we spotted into mketh cldart atou pot even more gains ahead we're breaking down the action keep us working remotely,

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baaam. internet that keeps you ahead of the game. that's cute, but my internet streams to my ride. yeah, well mine's always got my back. okay chill, 'cuz mine's so fast, no one can catch me. speed? we'll show you speed. wow! -that's nothing... ...because my internet gives me a flex 4k streaming box for free. impressive! that's 'cuz you all have the same internet. xfinity xfi so powerful, it keeps one-upping itself. can your internet do that? welcome back to "fast money. check out shares of amd, jumping out to a brand-new all-time high today. the big move setting off a blizzard of bullish activity let's get to mike khouw to break

down the action. >> amd traded more than four times its average daily total options volume in fact, in terms of contracts traded, it was the most active single-stock option traded today. they had good results off the earnings, and the big rally the stock has seen since that time the most actions options that expire next week, were the august 6 weekly 105 straight calls over 49,000 of those traded for an average of $2.15. you could see the stock above 107 and change by a week tomorrow. >> that's quite a move. earlier today, guy you added me about amd you've been on this, rightfully so. >> what do they call that thing? the at sign?

you took great glee when we were having an intel conditions -- conversation, which apparently we're not supposed to have, and you said, what do you think. i remember, i had lisa sue will come on and assuage the concerns of investors look at this magically it happens i will say this, continuingically trades 44 times normal involve i'm inclined to take profits on a day like today melissa lee? >> it's a tale of two cities -- it looks like a constructive chart. it looks about to break out. we know the winners there, but then tsm and intel have lagged the smh look poised for a breakout. >> you like the more value sort of side of the trade here. >> which has not worked as well, certainly on the intel side.

look, some of china's problems i think will help tsm. i think intel is deep value, because i think while this may take a couple years, we have the updates on foundry, i think this is a stock with zero expectation in the short terms kudos to guy he's been all over this one. >> >> karen, is it much too deep of a deep-value stock for you? >> it is i would rather buy it higher, i think, after we see some signs of a turnaround there. so farp, not so much >> curious, mike, is it specific to amd, or did you see bullish activity in others >> basically, to sort of dan's point, where the bullish activity lies is in the premium companies. i think that's where intel fell down i think that's something that

management currently recognizes. if you look at taiwan semi, both of those two did seal more bullish activity than bearish. and nvidia has consistently seen that >> all right thanks for that, mike. we'll see you tomorrow for options action, that's a full show torr. moow up next, we'll have your final trades it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪

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>> time for "the final trade." tim seeymour? >> citi bank, money center bank. >> karen finerman? >> yes those pinterest users are not spending as much time, maybe they're going out to ulta. that's my final trade. >> the fxi, large-capital etf. down 25%, i think you start to leg into that one here. >> guy

>> dog days of summer, mel unbelievable your baseball knowledge. >> halliburton see you back here tomorrow at 5:00. "mad money" with jim cramer starts right now my mission is simple, to make you money i am here to level the playing field for all investors. i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. my job is not just to entertain but educate and teach you. 1-800-743-cnbc or tweet me this was a