either a small caps down and big stuff up or vice versa that rotation rate maintains itself although it's not as seamless >> interesting that banks outperformed >> indices coming when yields moved low. s&p closed down by about half of one percent. thanks so much for watching. "fast money" starts now. >> live from the nasdaq overlooking new york city's times square, this is "fast money. i'm melissa lee. tonight, guy, karen, dan, and tim will join us in just moments. tonight, big cap pharma, stocks like eli lilly, merck dealing under the weather. plus, peloton popping. the stock climbing nearly 10% as the bikemaker rides into lulu's lane and we are all over the after hour's action as affirm is surging on earnings. we've got the latest from it

quarter. we start off with lift off shares of united, jet blue, southwest taking flight. let's get the latest from phil lebeau >> melissa, i think the stocks were up today because the guidance that we heard from the airline executives today presenting at a conference, they weren't surprising in fact, when you look at the airline index, what we've seen from all the airlines was a trim of their guidance for the third quarter. it was not a big cut it was essentially what we all expected because we're seeing traffic that is slowing down if you take a look at all of the airline passenger levels, they clearly ticked lower in the second half of august. it is expected that we're going to see that continue if we get past this labor day bump that you see higher there, you're going to see move down for the remainder of the month we'll start with southwest and american southwest saying its september revenue down 25 to 30%

it previously was expecting it to be down anywhere from 15 to 25%. american, down 24 to 28% previously, it was expected to be -- >> biden at the white house. let's listen in. >> where we are in the battle against covid-19 the progress we've made and the work we have left to do. and it starts with understanding this even as the delta variant 19 has covid-19 has been hitting this country hard, we have the tools to combat the virus. if we can come together as a country and use those tools. if we raise our vaccination rate, protect ourselves and others with masking and expanded testing and identifying people who are infected, we can and we will turn the tide on covid-19 it will take a lot of hard work. it's going to take some time many of us are frustrating with the nearly 80 million americans

who are still not vaccinated even though the vaccine is safe, effective, and free. you might be confused about what is true and what is false about covid-19 so before i outline the new steps to fight covid-19, that i'm going to be announcing tonight, let me give you some clear information about where we stand. first, we have made considerable progress in battling covid-19. when i became president, about 2 million americans were fully vaccinated today, over 175 million americans have that protection before i took office, we hadn't ordered enough vaccine for every american just weeks in office, we did the week before i took office on january 20th of this year, over 25,000 americans died that week

of covid-19. last week, that grim weekly toll was down 70% in three months before i took office, our economy was faltering, creating just 50,000 jobs a month we're now averaging 700,000 new jobs a month in the past three months this progress is real. but while america's in much better shape than it was seven months ago when i took auoffice need to tell you a second fact we're in a tough stretch and it could last for a while highly contagious delta variant that i began to warn america about back in july, spread late summer like it did in other countries before us. while the vaccines provide strong protection for the vaccinated, we read about and hear about and we see the stories of hospitalized people people on their death beds among the unvaccinated over the past

few weeks. this is a pandemic of the unvaccinated and it's caused by the fact that despite america having unprecedented and successful vaccination program, despite the fact that for almost five months, free vaccines have been able in 80,000 different locations. we still have nearly 80 million americans who have failed to get the shot and to make matters worse, there are elected officials actively working to undermine the fight against covid-19 instead of encouraging people to get vaccinated and mask up, they're ordering mobile morgues for the unvaccinated dying in their communities. this is totally unacceptable third, if you wonder how all this adds up, here's the math. the vast majority of americans are doing the right thing. nearly three quarters of the eligible have gotten at least

one shot but one quarter has not gotten any. that's nearly 80 million americans not vaccinated and a country as large as ours, that's 25% minority. that 25% can cause a lot of damage and they are. the unvaccinated overcrowd our hospitals. are overrunning emergency rooms and intensive care units, leaving no room for someone with a heart attack or pancreatitis or cancer. four, the vaccines provide very strong protection from severe illness from covid-19. i know there's a lot of confusion and misinformation, but the world's leading scientists confirm that if you're a fully vaccinated, your risk of severe illness from covid-19 is very low in fact, based on available data

from the summer, only one out of every 160,000 fully vaccinated americans was hospitalized for covid per day. those are the facts. here's where we stand. the path ahead, even with the delta variant, is not nearly as bad as last winter but what makes it incredibly more frustrating is that we have the tools to combat covid-19 and a distijt minority of americans are keeping us from turning the corner these pandemic politics that i refer to are making people sick. causing unvaccinated people to die. we cannot allow these actions to stand in the way of protecting the large majority of americans who have done their part and want to get back to life as normal as your president, i'm announcing tonight a new plan to

require more americans to become vaccinated to combat those blocking public health my plan also increases testing, protects our economy, and will make our kids safer in schools it consists of six broad areas of action and many specific measures in each and each of those actions, you can read more about at whitehouse.gov. the measures, these are going to take time to have full impact. but if we implement them, i believe, and the scientists indicate, that the months ahead we can reduce the number of unvaccinated americans, decrease hospitalizations and death and allow our children to go to school skafely and keep our economy strong by keeping businesses open. first, we must increase

vaccinations among the unvaccinated with new vaccination requirements with nearly 80 million eligible americans who have not gotten vaccinated, many said they were waiting for approval from the food and drug administration, the fda. well, last month, the fda granted that approval. so the time for waiting is over. this summer, we made progress with a combination of vaccine requirements and insentcentives well as the fda approval four million more people got their first shot in august than they did in july and we need to do more this is not about freedom. or personal choice it's about protecting yourself and those around you the people you work with the people you care about. the people you love. my job as president is to protect all americans. so tonight, i'm announcing that the department of labor is

developing an emergency rule to require all employers with 100 or more employees that together employ our 80 million workers to ensure their workforces are fully vaccinated or show a negative test at least once a week some of the biggest companies are already requiring this united airlines. disney tyson's food and even fox news. the bottom line. we're going to protect vaccinated workers from unvaccinated co-workers. we're going to reduce the spread of covid-19 by increasing the share of the workforce that is vaccinated in businesses all across america my plan will extend the vaccination requirements that i previously issued in the healthcare field already i've announced we'll be

requir requ requiring vaccinations of all workers because of i have that authority. tonight, i'm using that same authority to cover those who work in hospitals, home healthcare facilities or other medical facilities a total of17 million healthcar workers. if you're seeking care at a healthcare facility, you should be able to know hathat the peop treating you are vaccinated. simple straightforward. period next, i will sign an executive order that will now require all executive branches federal employees to be vaccinated all. i've signed another executive order that will require federal contractors to do the same if you want to work with the federal government, get vaccinated you want to do business with the federal government, vaccinate your workforce and tonight, i'm removering onef

the last remaining obstacles that make it difficult for you to get vaccinated. the department of labor will require employers with 100 or more workers to give those workers paid time off to get vaccinated no one should lose pay to get vaccinated or take a loved one to get vaccinated. today in total, the vaccine requirements of my plan will affect about 100 million americans. two-thirds of all workers. and for other sectors, i issue this appeal. to those of you running large entertainment venues, from sports arenas to concert venues to movie theatres, please require folks to get vaccinated or show a negative test as a condition of entry and to the nation's family physicians pediatricians. gps. general practitioners. you're the most trusted medical

voice to your patients you may be the one person who gets someone to change their mind about being vaccinated. tonight, i'm asking each of you to reach out to your unvaccinated patients over the next two weeks and make a personal appeal to them to get the shot america needs your personal involvement in this critical effort my message soto unvaccinated americans is this. what manore is there to wait for what more do you need to see we made vaccinations free. safe and convenient. the vaccine is fda approved. over 200 million americans have gotten at least one shot we've been patient but our patience is wearing thin and your refusal has cost all of us, so please do the right thing,

but just don't take it from me listen to the voices of unvaccinated americans who are lying in hospital beds, taking their final breaths, saying, if only i had gotten vaccinated if only. it's a tragedy please don't let it become yours. second piece of my plan is continuing to protect the vaccinated the vast majority of you who have gotten vaccinated, i understand your anger at those who hadn't gotten vaccinated i understand the anxiety about getting a breakthrough case, but as the science makes clear, if you're fully vaccinated, you're highly protected from severe illness. even if you get covid-19 in fact, recent data indicates there's only one confirmed positive case per 5,000 fully vaccinated americans per day

you're as safe as possible and we're doing everything we can to keep it that way keep it that way keep you safe. that's where boosters come in. the shots that give you even more protection than after your second shot. now, i know there's been some confusion about boosters, so let me be clear. last month, our top government doctors announced an initial plan for booster shots for vaccinated americans they believe that a booster is likely to provide the highest level of protection yet. of course, the decision of which booster shots to give, when to start them, and who will give them will be left completely to the scientists at the fda and the centers for disease control. while we wait, we've done our part we bought enough boosters, enough booster shots and the

distribution system is ready to administer them. as soon as they are authorized, those eligible will be able to get a booster right away in tens of thousands of sites acro across the country for most americans. at your nearby drugstore and for free the third piece of my plan is keeping, and maybe most important, is keeping our children safe and our schools open for any parent, it doesn't matter how low the risk of any illness or accident is when it comes to your child or grandchild trust me i know so, let me speak to you directly let me speak to you directly to help ease some of your worries comes down to two separate categories children ages 12 and older who are eligible for a vaccine now and children ages 11 and under who are not yet eligible, the

safest thing for your child 12 and older is to get them vaccinated they get vaccinated for a lot of things that's it. get them vaccinated. as with adults, almost all the serious covid-19 cases we're seeing among adolescents are in unvaccinated 12 to 17-year-olds. an age group that lags behind in vacci vaccination rates. so, parents, please get them vaccinated what about children under the age of 12 who can't get vaccinated the best way to protect your child under the age of 12 starts at home. every parent, every teen sibling, every care giver around them should be vaccinated. children has four times higher chance of getting hospitalized if they live in a state with

high vaccine rates if you're wondering when will the vaccine be available for them i strongly support independent scientific review for vaccine uses for children under 12 we can't take shortcuts. of that scientific work. but i made it clear i will do everything within my power to support the fda with any resource it needs to continue to do this as safely and as quickly as possible. and our nation's top doctors are committed to keeping the public at large updated on the process so parents can plan. now to the schools we know that if schools follow the science, and implement the safety measures like testing, masking, adequate ventilation systems if we provided the money for, social distancing, and vaccinations, then children can be safe from covid-19 in schools.

today, about 90% of school staffs and teachers are vaccinated we should get that to 100% my administration is already inquiring teachers at the schools run by the defense department because i have the authority as president of the federal system the defense department, and the interior department, to get vaccinated that's authority i possess tonight, i'm announcing i will require all of nearly 300,000 educators in the federal program, head start program, must be vaccinated as well to protect your youngest, our youngest, most precious american, and give parents the comfort. and tonight, i'm calling on all governors to require vaccination for all teachers and staff some already have done so. we need more to step up. vaccination requirements in schools are nothing new. they work.

they're overwhelmingly supported by educators and their unions and all school officials trying to do the right thing by our children, i'll always be on your side let me be blunt. my plan also takes on elected officials in states that are undermining you in these life saving actions right now, local school officials are trying to keep children safe in a pandemic while their governor picks a fight with them and even threatens their salaries or their jobs talk about bullying in schools if they'll not help, if these governors won't help us beat the pandemic, i'lluse my power as president to get them out of the way. the department of education has already begun to take legal action against states undermining protection that local school officials have

ordered. i any teacher or school official whose pay is withheld from doing the right thing, we will have that pay restored by the federal government 100%. i promise you. i will have your back. the fourth piece of my plan is increasing testing and masking from the start, america's failed to do enough covid-19 testing. in order to better detect and control the delta variant, i'm taking steps tonight to make testing more available, more affordable and more convenient i'll use the defense production act to increase production of rapid tests including those that you can use at home. while that production is ramping up, my administration has worked with top retailers like walmart, amazon and kroger and tonight, we're announcing that no later than next week, each of these outlets will start to sell

at-home rapid test kits at cost for the next three months. it's immediate price reduction for at-home test kits for up to 35% reduction. we'll also expand free testing at 10,000 pharmacies around the country. and we'll commit, we're committing $2 billion to purchase nearly 300 million rapid tests for distribution at community health centers, food banks, schools, so that every american, no matter their income, can access free and convenient tests this is important to everyone. particularly for a parent or a child. with a child, not old enough to be vaccinated. you'll be able to test them at home test those around them in addition, to testing, we know masking helps stop the spread of

covid-19 that's why when i came into office, i required masks for all federal buildings on federal lands, on airlines and other modes of transportation. today, tonight, i'm announcing that the transportation safety administration, the tsa, will double the fines on travelers that refuse to mask. if you break the rules, be prepared to pay. and by the way, show some respect. the anger you see on television toward flight attendants and others doing their job is wrong. it's ugly. the fifth piece of my plan is protecting our economic recovery because of our vaccination program and the american rescue plan, which we passed early in my administration, we've had record job creation for a new administration economic growth unmatched in 40

years. we cannot let unvaccinated do this progress undo it. turn it back so tonight, i'm announcing additional steps of strengths in our economic recovery. we'll be expanding covid-19 economic injury disaster loan programs that's a program that's going to allow small businesses to borrow up to $2 million from the current 500,000 to keep going if covid-19 impacts their sales these low interest, long-term loans, require no repayment for up to two years and can be used to hire and retain workers, purchase inventory or even pay down higher cost debt racked up since the pandemic began i'll also be taking additional steps to help small businesses stay afloat during the pandemic. sixth, we're going to continue to improve the care of those who do get covid-19.

in early july, i announced the deployment of surge response teams. these are teams comprised of experts from the department of health and human services, the cdc, the defense department, and the federal emergency management agency fema to areas in the country that need help to stem the spread of covid-19 since then, the federal government has deployed nearly 1,000 staff including doctors, nurses, paramedics, into 18 states today, i'm announcing that the defense department will double the number of military help that they'll deploy to help their fellow americans in hospitals around the country additionally, we're increasing the availability of new medicines recommended by new doctors, not conspiracy

theories the monoclonal antibody treatments reduce it by up to 70%. we've distributed it 1.4 million courses of these treatments to save lives and reduce the strain on hospitals tonight, i'm announcing we'll increase the average pace of shipment across the country of free monoclonal antibody treatments by another 50%. before i close, let me say this. communities of color are disproportionally impagcted by this virus we will ensure that equity continues to be at the center of our response we'll ensure that everyone is reached. my first responsibility as president is to protect the american people and make sure we have enough vaccine for every american including enough boosters for

every american who's approved to get one. we also know this virus transcends borders that's why even as we execute this plan at home, we need to continue fighting the virus overseas continue to be the arsonal of vaccines we've donated over 490 million vaccines, more than any other countries combined more than europe, china, russia, combined that's american leadership on a global stage and that's just the beginning. we've also now started to ship another 500 million covid vaccines, pfizer vaccines, purchased to donate to 100 lower income countries in need of vaccines and i'll be announcing additional steps to help the rest of the world later this month. as i recently released the key parts of my pandemic preparedness plan so that

america isn't caught flat footed with a new pandemic comes again, as it will, next month, i'm also going to release the plan in greater detail so let me close with this. we've made so much progress during the past seven months of this pandemic. recent increases in vaccinations in august already are having an impact in some states. where case counts are dropping in recent days even so, we remain at a critical moment, a critical time. we have the tools. now we just have to finish the job. with truth with science with confidence. and together as one nation look, we're the united states of america. there's nothing, not a single thing we're unable to do if we do it together so let's stay together god bless you all and all those

who continue to serve on the front lines of this pandemic and may god protect our troops get vaccinated >> mr. president >> you've been listening to president biden outlining his multifaceted plan to further combat the spread of the delta variant. everything from leaning on the department of labor to effectively inact vaccine man dates to at-cost, at-home testing. let's get to eamon javers. >> clearly frustrated president biden there, melissa he's talking directly to the unvaccinated americans and he said look, we've been patient, but our patience is wearing thin this is a president who's now determined to use all the levers of federal power to push that number of unvaccinated americans way down he says that's what's allowing this delta variant to continue to spread, to continue to impact the economy and to threaten the idea of children being able to go back to school safely

so to do that, as you say, he's going to roll out the department of labor that's a big piece of this they're going to do through osha here and force every company of over 100 employees to make sure their workforce is vaccinated or tested regularly that's an enormous number of people in this country it's going to affect a lot of businesses and you can expect that a lot of private sector muscle is going to be put behind that effort. the other big piece of that, melissa, is the idea that healthcare workers will be to be vaccinated that they're going to take medicare and medicaid funds from the federal government that is another big stick that the federal government has here, which is to say you can't get these funds if your healthcare workers are not vaccinated and you're not doing everything you can to get that workforce healthy. so two enormous levers right there. then a host of other items throughout here this announcement the president's laying out today as he tries to get that number of unvaccinated americans down the economy and schools back on

track. >> yeah, it's 80 million employees total that would have to be vaccinated or tested weekly, so that is an enormous number of people eamon, thank you we've got breaking news meantime out of the fed let's get straight to steve liesman. >> melissa, thank you. boston fed president eric rosengren announcing that he will sell all the individual stocks he owns by september 30th and reinvest the proceeds into diversified index funds or cash savings. he says he will not trade in accounts while serving as fed president of boston. he says the investment decisions he made last year were permissible, but he's addressing this issue to avoid any appearance of conflict obviously, this story comes after disclosure that robert kaplan, the dallas fed president, was involved in, pardon me, multiple trades in excess of a million dollars over the course of 2020

and boston fed president also involved in a series of trades involving a whole matter of stocks, dow, alibaba, at&t owns a bunch of residential and other mortgages. verizon. most of his trades, however, are much smaller than robert kaplan's all listed between 1,000 and 50,000, but they were at least, i'm looking at the form now. 50 purchases and sales for stocks during the year >> 50 transactions during one year steve, i'm just curious. you interview fed officials all the time and during the jackson hole symposium, you talked to all of them. did i ever occur to you to ask them what they held in their portfolio and what they trade? >> they come out as disclosures every year and it's not something we often ask them about. it becomes a matter more we talk about policy and the economy, but it appears that they've been

doing quite a bit of trading and i think now it's an issue. >> yeah. certainly is steve, thanks so much. steve liesman. i asked that question of steve sort of tongue and cheek because we also ask about the timer timeline, et cetera, and those things are keys to the kingdom when it comes to trading stocks, particularly some that they are trading in like an alibaba, like the tech stocks, et cetera >> yeah. i mean, and how about, you know, real estate or interest rate sensitive stuff. i mean, if you're a fed official, you tell me you don't have an insight into where we are going in interest rate sensitivity. the real cynics would say if he's now going to go to cash, it's time to see the fed's getting a lot more aggressive and everyone should be concerned. not saying that that's what's going on, but here, fed officials saying i'll go to cash right now. again, i think this is him saying i'll do whatever is the most appropriate thing, but he's

acknowledges what has come out in the last 48 hours we talked about this on tuesday evening. i think we would all agree that a lot of different federal officials and even the members of congress that have so much insight into policy that will move stocks top down or bottom up, need to be regulated and the irony is of course that individuals are regulated that much more without that kind of information. >> i'm really curious as to when these rules were put in place because the world has changed with quantitative easing, guy, and with the flow of information that we have at our fingertips at any one moment that impact stocks on a second to second basis. it could be a case that the rules just haven't caught up with where we are in time. f >> yeah, could be. but rules no not with standing, the optics are just awful. by the way, i'd like to think in

some small part, some single digit percentage, maybe the things we've talked about the last two days have helped spur this on. he's not the first and he's not going to be the last and it should filter its way into the members of congress. people at home get agitated, exercised, mad, angry, whatever word you want to use and you understand why they look at this and they say the game is rigged it's the big guys, the guys and gals that have all the knowledge and the power, positions that benefit the most and whether that's true or not, doesn't matter that's what it looks like. so i guess at some level, good for him for making this announcement >> you brought that up when we were talking to sheila bair yesterday. when you're talking about leveling the playing field and the perception it is not level in the first place, karen, this really adds fuel to the fire if you say these guys have inside information in some way. whether or not this is true. have inside information, have some sort of inside, you know, directions as to where things

are headed the system is going and we're the little guy left on the sideline >> yeah, i think the little guy should be upset about it because they do have access to this information. and they make this information not only do they know what it's going to be, they help craft it, right? so that, i think he's doing the right thing. i don't think there's necessarily anything to read into it that there was anything appropriate. i also think he's doing the right thing by going into efts, which it sounded like what was going to happen, not just going into cash because that may send a signal that is warranted or not, as tim brought up, i don't know so he's doing the right thing. they're trying to get ahead it, but i think for congress, it's more important the idea that there isn't any kind of regulation on trading there, that's kind of surprising to me. >> and the idea -- >> good for him. >> that you represent the people congress represents the people and yet they can have, they can

have, you know, a committee hearing on something that could directly impact a stock or sector and still be able to trade in those shares. dan, i don't know about you, i hope that every fed official, it's all above ford, that they divest >> yeah, so let me tell you who will the fed officials will do it the congressional people, both parties, will not. they make their own rules and this is a rule they seem to be pretty happy about and if they were concerned with the optics that karen and guy and tim just mentioned, then they would do it themselves, but they probably are not going to do that i think i made the point the other night that if work in a large financial institution that has a large fiduciary responsibility, you have so many restrictions on what you can trade and holding periods. it makes no sense. i'm less concerned about the fed. i just think there's a few players there. i think it's congress is a bigger issue and the senators we saw some of those senators from

georgia and some of the trading they were doing and even related to pelosi and some of her family members. it all just seems a bit goofy to me >> steve is back on the phone. he's got more on the story steve. >> just saying others will follow suit. got a statement from the dallas federal reserve that robert kaplan will divest himself of his individual stocks. so all of his stocks lie that he owned by september 30th, in indet index funds or cash savings. there will be no trading in these accounts as long as i'm serving as president of the dallas fed now two people have followed suit with pretty much the same language and adopted what appears to be a new policy for fed presidents not to own individual stocks and not to trade while they're sitting in positions as fed presidents. >> two fed presidents, dan, how many more to go, steve >> let's see

there were 12. just by way of -- the federal reserve governors are governed by the u.s. office of ethics they filed separately and their trades are reviewed by that office they have other disclosures. i've looked at nearly all of them most of these guys have most of their funds in index funds and other sort of, some private equity investments, but kaplan was the leader in terms of the number of individual stocks. rosengren also had a lot, but kaplan of course has a fortune given his tenure as vice chairman of goldman sachs. that is i believe way larger than all of the other fed bank presidents and governors >> yeah. his position sizes were quite sizable as well. steve, thanks so much. for bringing us the latest on this story guy, it seems like maybe this is just going to happen on its own.

without rule changes, but it would be nice to see rule changes. >> no, listen, yes it would be great to see rule changes. dan's 100% right by the way, i thought there were rules governing congress i guess i was wrong. maybe i missed that day of college. it's comical to think that goes on actually, that's not the right word it's really upsetting to think that goes on when there are a lot of people trying to do things the right way so yes, i just said it ten minutes ago. he's the first and won't be the last that proved to be pressing although i'm not that ground breaking, but now it's got to filter its way through the government because again, when people see this read it hear it, they just like, you know what, this game is rigged and you understand again why people get so so agitated. >> we'll continue to follow this meantime, we'll be right back.

with directv stream, i can get live tv and on demand... together. watch: serena williams... wonder woman. serena... wonder woman... serena... wonder woman... ♪ ♪ ace. advantage! you cannot be serious! ♪ ♪ get your tv together with the best of live and on demand.

introducing directv stream with no annual contract. this is how you become the best! [music: “you're the best” by joe esposito] [music: “you're the best” by joe esposito] [triumphantly yells] [ding]

don't get mad. get e*trade and take charge of your finances today. welcome back to "fast money. all falling in today's session karen, you flagged this underperformance today what do you make of it >> i wasn't here to make of it until i realized it was the

biden administration's plan to negotiate drug prices for medicare this has been something that's been around for i don't know how many years maybe it was during the bush administration where they were not allowed to negotiate so it's been hard to get that passed, but you could see why that would be a negative for the big cap pharma industry. i think that just on their last segment about would it track me if congress were trading, any congress, any representatives, senators were trading on this? no, it wouldn't. i think maybe that's why pharma's been weak the last couple of days i'm still long i think this will probably not read well in the next couple of days but remember the lobbying effort of big tech pharma is possible, so i think we'll see push back >> we did see a nice pop in

shares of moderna on the vaccine mandate. >> it was a good day for moderna. it's been a relatively strong run for big cap pharma not just pfizer. if you look at the shares, pharma index or etf, it's having a strong run if i'm thinking how to be best diversified within this group, i love johnson & johnson because you've got a pharma play, a medical devices element and a consumer products element. it's had difficult obstacles to overcome in the last couple of years. largely seems to be on the right path and if you look at that chart, it's really near the bottom of a range. so i like jnj. it's a very well diversified company trading somewhere in line with its long-term average. >> dan, how you feeling about pharma >> yeah, i think you go, whoever just mentioned moderna, i think

you do the same in pfizer and pfizer had that huge run in late july from about $40 to 52. it's trading at 46 if you see this back near the breakout, i don't see it too much further from here i think these boosters are going to be here to stay and yeah, there was some tough talk about pricing. costs and that sort of thing, but to me, i think pfizer is probably a reload on a retest of that breakout level. >> guy, what stood out to you today in pharma? >> well, i mean it's been a difficult week on uesday, it was morgan stanley downgraded jnj, america, a lot of things going on karen mentioned the biden administration first and foremost, the news in biogen when the positive news came out, traded over 400. with that said, we get this low on the selloff i'm with tim on jnj.

they're a diversified pharmaceutical company with a reasonable valuation i think eli will find its footing. we had the analyst on about a month and a half ago price target was 115 what we said was the stock could get down to 330. you buy it with both hands i think 354 on august 16th now it's off to the races again. so i'm with dan and tim on the moderna front. coming up, peloton popping today. the headline that added nearly 10% to the stock plus, the big money and e thbig deal with the nfl. the ceo of reach tv is here with us we're back right after this.

(vo) this is more than glass and steel... and stone. it's awe. beauty. the measure of progress. it's where people meet people. where cultures and bonds are made between us. where we create things together. open each other's minds. raise each other's ambitions. and do together, what we can't do apart. this is space for dreams. loopnet. the most popular place to find a space.

another day, another chance. make the most of it with the network that can deliver gig speeds to the most businesses. and get the advanced cybersecurity solutions

you need with comcast business securityedge. ask how to get comcast business securityedge to help protect all your connected devices. and get started with a great offer on fast and reliable internet and voice for just $64.99 a month. plus, ask how to get a prepaid card up to $500. call or go online today to learn more. comcast business. powering possibilities. welcome back shares of peloton talking the tape the bikemaker looking to gain market share with a new bropriv label apparel brand. now earning the century ride t-shirt, kbguy, is a big deal, u maybe now you can buy one. >> i will say that and this will come off as boougie as can be, but peloton sent me some really

cool gear a while back because i do ride their bike the problem here is valuation. obviously last quarter was not great. you see the selloff. to me, the stock is noin no man land again, no man's land here. i'd wait for a pullback in the name >> selling some leggings and some shirts, karen, worth 10% on the stock in your view >> no, not in my view. i thought, didn't they have a, peloton, a lulu collaboration on some of their active wear? i thought that was the case sometime ago it's not a crazy product extension. so i get it. but that's, that's a nice pop. i don't know maybe it's delta variant and more people staying home i don't know >> tim, you going to be first in line for some bike shorts? >> look, first of all, no, i don't think anyone should be seen in bike shorts, i'll put it

that way, but speaking of the bike, i know guy's a big emma lovewell fan and probably wants to wear whatever she has so i think this is genius. they're creating, they've created personalities. there's a cult following there is a sense that they are tastemakers and defining culture. so i, why wouldn't they get into this space i think they've got an engaged audience i think a lot of these instructors have changed people's live and they certainly want to look like them i think it's great i hate the valuation on the stock. the pull forward is certainly something we've seen i believe what i'm hearing with the other panelists here that this isn't enough to change the story right now. but i think it's a great direction for them >> all right let's move on to reach tv. scoring a first ever deal with the nfl to air live games on its tv screens at airports nationwide it comes just in time for continue's kickoff game.

the cofounder and ceo of reach tv this was long in the making, wasn't it? >> many years. been working on this for the last couple of years, but intensely since we acquired cnet airport in, as of april 1st. so it's been intense going back and forth with the nfl they've been great to work with. we wanted to make sure we got the passengers, viewers, travelers, what they want to see on thursday, sunday at 1:00, sunday at 4:00, and monday night. >> that's a lot of football. how does this help your business specifically >> one of the things about this deal that's unique is we're the one network that's carrying all of the games so it gives us an opportunity to toss travelers on all those games and gives us a vast amount of games throughout the regular-season then holds playoffs and the super bowl.

>> tim, you got a question >> talk about the engagement of what the nfl sees in theat-hom and in the airports and why that's something that is that much more zdesirable for them ad other folks and for the advertisers, obviously >> when you think about 2 million people a day going through the airports and you think about the people and the demographic that goes to the airport, it's important that the nfl doesn't miss that audience that audience doesn't miss an nfl game no matter what you're doing on your mobile device, when you're watching the game, when you have 55, 75-inch screens throughout the airports and we're at the gates, the bars, everywhere, it makes an impact. i think the nfl wants to make sure their fans get to see their game no matter where they are. >> lynnwood, great to speak with you. thanks for joining us tonight. >> thank you >> let's trade this. dan nathan, it's an area we

don't talk about often, but this is a captive audience. if you're waiting for a plane, got nothing else to do >> yeah. i think it makes a lot of sense here and he was talk about that audience and demographic and it's really about advertising. if you're seeing streaming and paid for services increasingly outside of live tv, you got to capture as much of that advertising as you can and this deal, you know, makes a lot of sense to me and as a frequent traveler on sundays, i'm down. i'm in for it. >> tim >> yeah. look, i think there's a lot of different ways to play this, but i think the message here is that advertisers are looking for nonconvention always to get exposure and to find that e engagement whether you're standing in an elevator and forced to watch the news or sitting in a hotel room, reach tv, they're in hotel rooms, airports. i think they're really well positioned here.

>> and a reminder. do not miss tonight's nfl kickoff. the cowboys taking on the defending super bowl champs, the buccaneers watch it live on nbc and peacock. urverage starts in just over an ho speaking of football, some touchdown final trades stay tuned this is wealth. ♪ ♪ this is worth. that takes wealth. but this is worth. and that - that's actually worth more than you think. don't open that. wealth is important, and we can help you build it. but it's what you do with it, that makes life worth living. principal. for all it's worth.

- [announcer] at southern new hampshire university, we never stop celebrating our students. from day one to graduation to your dream job, that's why we're keeping your tuition low for the 10th year in a row. - [student] the affordability and the quality of education, it can be enough to change your life. - [announcer] as a nonprofit university, we believe in making college more affordable for everyone. - southern new hampshire university, it was just amazing experience. - [announcer] find your degree at snhu.edu.

in the spirit of tonight's nfl kickoff, it is time for some touchdown final trades tim, what do you say >> i think jnj's like that fullback that you can hand the ball out to and crank out 80 to 90 yards i know you like those kinds of players. it's a buying opportunity in jnj. >> love them karen. >> i'm more of the four yards in a cloud of dust kind of investor so want to you know stick it out in the long-term and i find myself agreeing with dan on pfizer i think it will probably read poorly tomorrow with the biden administration talking about negotiating prices pfizer trades down on that, i think it's a good opportunity to buy some more. >> dan, i hope you saved that. >> i will. listen, jet blue, they matched up that kind of revenue decline.

just a little bit. i think it's okay here >> guy >> as you know, mel, dak is going to air it out tonight the way z scaler aired it out with their earnings release >> "mad money with jim cramer" will start 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 oney my job is not just to entertain but to educate and teach you call me or tweet me. let's accept that right now there's a widespread belief that you can't get into this market without losing money