along that line? >> we are in the proof it stage in the market. no doubt about it. it has to show that it's more than just a reflex bounce. i think the juvenile has a shot of being important but it's a long way down there if we can be tested. >> which you have some people suggesting it will. and that's what the market. good stuff, thank you. that's my. i will see him for his mid-day word and last were tomorrow. we will see you back here. fast when he begins now. straw ban right now on fast money, operate lined up for you from paypal to so five to starbucks and robin hood. how you should be trading these names. plus credit cards are seeing their biggest bounce in 20 years. how one economist says this is a sign of resilience in the consumer. what that means to the market. leader, uber revs up. shares a mistake since march 2020. racing nearly 3 months of losses. the company's comments say they're looking at the consumer and broader company. i melissa lee. this is fast money. ken, courtney garcia and jeff mills. we will get to those moves in

paypal and amd in a moment. we start with a latest developments, from house speaker nancy pelosi's highly controversial visit to taiwan. we are seeing the first response in china with one battery maker putting plans for multibillion-dollar north american plans on pause. let's get to philip for the details here. fill. >> melissa, the battery maker is see atl. the largest battery cell supplier in the world and there's a report this afternoon out of china that the company which is in the process of looking at possible location for a $5 billion ev battery cell plant either in the u.s. or in mexico. that they are putting that announcement on hold. at least that's the report from reuters out of china. keep in mind the importance here is that that plant would supply tesla and ford here in the u.s. if you take a look at shares of ford, keep in mind the see atl battery plant, once it's online, would supply lithium, phosphate batteries to

ford. those of the lower cost batteries starting next year for the marquee as well as the f-150 lighting. this is an announcement. it doesn't mean they are scrapping the plants altogether and that's why i don't think we are seeing a huge reaction on shares of for us for tesla, catl already supplies battery cells two teslas that are manufactured in china . they have a long-standing relationship, catl does, with tesla in china and finally as you take a look at shares of catl, keep in mind that this is an announcement that reportedly has been put on hold. the company, according to the reports out of china, would likely still make an announcement maybe next month maybe mid october. clearly, this announcement coming today that they are putting a site selection on hold is clearly in response to nancy pelosi being in taiwan. melissa? >> it's interesting timing. thank you. markets probably took a leg lower as these headlines were crossing with the snp giving him gains, down two and a 2/3%.

a heavy dose of hawkish fed speak didn't help. what you make of it all, tim? >> i think the fed speak was more important and i don't want to underestimate the importance of china, u.s. relations and were those tensions could go. and where we don't want them to go. but when i think about what's most important for the market here, it's what is what has had the most impact to this point which has been fed speak, powell last week or something along the lines of, i'm closer to neutral or a neutral which i don't believe, and i would be disappointed if they felt they were a neutral. but again, we have mr. and other folks out there who are voting members of the fomc reminding everyone, look, we are at 390 unfed funds as we got into next year at the peak, in june after the hawkish june meeting. we are down to 320. i'm not sure that's where we belong. equities of the peer look at the semis which are up again today before closing a bit lower. but when you have the dynamic here where you had a 27% move

in the parts of the market that are most sensitive to lower interest rates. so again, the pelosi visit to china is geopolitical complexity of a larger nature than i think the market was really paying attention to today. it doesn't mean companies that want to secure ev supplies and we were there from gm and ford. gm going out of their way to say they have secured the next couple of years. but today is all about the fed. >> we were talking yesterday about how we were worried that the markets were pricing in a pivot and then we trotted out the fed speaker saying don't price into pivot yet. it's way too early. we have a lot of work to be done. >> exactly right. i agree with him completely. at the time we sort of thought that wasn't hawkish, was a dovish. you hear whatever you want to hear. i think we all agree that it sounded very hawkish and i think that they then send out the troops and the troops delivered the message that they wanted the market to understand. we are nowhere near done. inflation is still way, way too high. we can't even begin to think

about slowing down or pivoting or whatever you want to call it. and, if a recession is the byproduct of that, so be it. we have to live with it. i think that was a lot of what weighed on the markets, it also it was a little sigh after a gigantic, gigantic run. so we just went back to where we were, i don't know, friday afternoon may be. >> to put it into perspective. we mentioned what's going on in china because at the very least this is another reason to be cautious here. it's certainly not a reason to be constructive, courtney, on top of the uncertainty we have, regarding what the fed is going to do or not do. >> yeah, i think it adds to geopolitical uncertainty and is going to affect things like your semiconductors. that's a lot of your semiconductors are coming out of taiwan so i think that could be something that's going to be overweighting of it and wait on your semiconductors on top of any demand problems they might be having now. i think it's too early to trade on anything like that. it's not directly affecting the markets at least at this point. but it's something to keep an

eye on. >> jeff, what do you think? >> listen, i think the added risk is problematic in the sense that there's this narrative developing that the market sold off a lot. things are cheap. things are getting less cheap. we talk about this economic slowdown for some time. the need for eps expectations to come down. they have fallen. so look out to 2023 and price to earnings ratio. it was about 14 times. so kind of cheap. now 17 times as expectations start to come down. so i think that's interesting as eps comes down, that strain on valuation increases. so any additional risk that the market has to deal with, whether it's geopolitical uncertainly or otherwise, it becomes more problematic as valuations rise. valuations are not rising for necessarily a good reason. so i think that that's maybe the most important thing to pay attention to right now, relative to what's going on with pelosi in taiwan. listen, i think that regardless, china and the u.s. is on a collision course. i think you will have a bunch of

things rattling now but make no mistake, taiwan is basically the most important country on earth right now and how this fight is going to play out over the net long-term is very hard to predict. if you're trying o play the long game, you probably mean more u.s. company on shortens, localized supply chains. applied materials in terms of semiconductor equipment and more factories needing to be built. so those are all things to consider but i think the first point about earnings expectations coming down, the stress on valuations, that's the key. >> let's go to paypal now. shares are jumping after the company reported better than expected results and also announced a change in the undersea suite. kate has the details. >> paypal without the top and bottom line. a lot of news out of the second quarter release. first, a new chief financial officer for paypal the giant hiring blake jorgensen. he had been the cfo over at electronic arts and was at levi's and yahoo before that. paypal's chief product officer meanwhile is retiring at the end of the year. also announcing a $15 billion share buyback authorized by the board.

then the elliott news. paypal speaking out about the first time that it's officially a $2 billion investment. also seeing it's entering into an information sharing agreement with elliott and there's a quote in the paypal release from jesse:who is a managing partner over at elliott. cowans", as one of paypal's largest investors with about a $2 billion investment, elliott strongly believes in the value proposition at paypal. paypal has an unmatched and industry-leading footprint across its payment businesses and the right to win over the near and long-term. but a lot of news out of paypal today as i can just that. stock up more than 10% after hours. back to you. >> wow. hey, you also spoke with a robin hood ceo on early earnings release plus layoffs announced. three manuals, both were a surprise. this company is supposed to report earnings tomorrow after the bell. came out with news that they are cutting about 22% of jobs over robin hood. that comes after a 9% reduction back in april. and vlad 10 of saying in a call

with reporters that this is them continuing to right size and exercise some of the cost discipline. he said the product road map will still stay aggressive and fewer employees will result in some of those lower costs you talk about. stock-based compensation falling by as much as 7% in the third quarter. that has been one of the areas where they have spent a lot and he said the reality is they over hired. he overdid it. when they went public and when they were trying to keep up with some of the trading frenzy that's going on in not only individual stocks, but crypto also talked about restructuring and something called a series of general managers. they call them many ceos and said that should streamline decision making. seems like they are changing the structure. he member of the c suite stepping down. are really one of their main spokespeople. she was the chief product officer and was a big higher from google. she is stepping down as well. so a lot of news out of robin hood. more cost cutting. stock down more than 1%.

almost 2% after hours. we met quite awry. i went public just one year ag . something like that. we met last summer, yeah. a lot has changed since her they talk about the slowdown in trading which really is their bread and butter for revenue. >> kate, thanks. what you make of paypal, karen? >> paypal was interesting. the stock up and down a lot on the heels of chapter 5 in this idea that e-commerce is really slowing and with they participate in that slowing here ? this was a good quarter in terms of defining those kind of expectations. the cfo, needing a cfo and having that role filled is great. i don't have a strong feeling either way on blake jorgensen. that was important. obviously the elliott thing is important. the buyback as well. that's a massive buyback, $14 billion. the close, i think they were only about $100 billion company, so that's a really massive buyback. so there was a lot to like and to breathe a sigh of relief. so that's enough. it's a big pop. >> almost $1 billion in cost

savings as well so they are really making an effort to streamline the company. >> we are not focusing on the quarter over quarter growth of 9% or effects neutral is 9%. 13% with the fx. and another fx edwin. operating margin of 11.2 which is more or less in line, but the cost savings and buybacks are things that, as is what you want for paypal? getting back to where elliott, in that statement they talked about the value proposition. again, if you look at it on a trailing basis and again this is a company that at least in the cobra dynamic, it's an important, at least yardstick to look on trailing basis. 29 times. hardly expensive. very cheap. buybacks remind you how cash flow generative this company is and at some point, they are a global leader. they are out there. they were out there before so many other players. i knew about this company when i was investing in latin america 15 years ago. on some level, this is a story

that's a very good story. elliott, once again, they really are the story of earnings season. especially for folks investing in tech. a reminder there are big hedge funds out there that are looking to make significant stakes. not small stakes. significant stakes. >> i get hung up on this notion of relative. in this market environment where we have seen huge pops in stocks that may not have had any business being where they were at one point, what does that mean? or do we just take a look at this versus the market multiple in terms of this market environment and the willingness to take on risk? courtney, what you think? >> you have to do both. when you look at paypal, they are trading at a little bit higher than markets, but they are so much lower than the longer-term averages. they have sold of so much more in the markets. they are down a 50% since the beginning of the year so i do think it's like a much lower bar they have to reach. clearly they are hitting that with some of these earnings coming out. female it's got two more furniture amd, shares are dropping. christina has the details. >> investors are hoping data center sales would help offset

weakness in pc sales but unfortunately that wasn't the case. amd, second-biggest maker of pc processors posted a slight revenue and earnings per share beat, but if you compare the earnings-per-share beat two other quarters, they barely moved the needle. you can see on your screen, the 1.9% versus 24.2, so the company's full year weaker than expected outlook is also contributed to the stock drop that we are seeing. down 5% which shows amd is insulated from the slowing pc industry. its biggest market for it products. amd's inventory levels keep climbing compared to last year. the conference call is underway right now so there's two little points i want to add that amd's mobile performance, they are breaking that down. they had a record sales and revenue for mobile performance so when you compare it to intel, intel mobile performance was down 30% on revenue. then gaining segment for amd was also down. the data center sales, that was a stronger point coming in at 1.49 billio , an increase year-over-year compared to intel. intel saw 16% drop in the same category. so it's really a battle between the two giants. slowly, amd is

chipping away at intel. take a look on your screen right now. you can see a three month chart of just the two companies. intel down over 19% and amd up 5% just over the same period. i like to point out also that amd's ceo will be on mad money tomorrow and i'm sure lisa sue can address a lot of these questions a commentary around the weakness. melissa. >> christina, thank you. this underscores the notion that amd is taking market share from intel, particularly in the all-important datacenter segment. >> 100%. i think for longtime investors, that's really the key and i think it's really interesting for intel. his report was going to be, is the intel miss competitive advantage issue or is it a macro issue? i think you can see here it's a competitive advantage issue. amd continues to take share. so that's incredibly important. i also think it's interesting and we need to pay attention

just for amd but also other stocks heading into earnings. these are stuck still in downtrends, but it also rallied 30% heading into earnings. so any sort of weakness or guy down, the stocks can be sold and can be sold hard. so i know everybody is feeling comfortable after the rally we have seen, but pay attention to that. sort of the action here is telling and might be indicative of other price action we see in the future. >> i do think it's interesting that we want to see what's happening with some of your pc demand because with all of our semiconductors, that has been the largest issue right now is the deterioration in demand. i think we will look at there has been the bill that's coming out that's going to be semiconductors. that may not help amd as much because they do outsourcing so i don't know if that will be hugely beneficial but i think it's going to help. >> the stock was up 40% up. it was a massive, massive rally. if you look at the chart when it it's now back down around the level where if you do a downtrend line, it had broken through around 95. so you can see we are right at that level. if you go back recently, we

talk about the pc impact. in a different market place whe they were showcasing their high- growth chips. the cpu, gpu chips and some of those were vamps that were really sexy and this is where the company was going. i think in a tape like this, we are focused on that, but i would not underestimate again the impact of a stock that rose the significantly going into the numbers. we met we have more earnings going your way. starbucks and so fight on the move. he will bring you details. credit card balances searching. the impact of all this as the recession peers linger. we have the details when past when he returns. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business.

>> there are a lot of things that i've learned over the years in business. but first is really the most important aspect because it teaches you to rely upon the other people that you're working with. the national bank has been an integral part of our team. they are a key financial adviser that has helped us be successful at family wines. de

>> i love it. >> find some wow now at 4 imprint .com. for certain. welcome back to "fast money". the word on starbucks. shares higher after the company reported a beat on the top of the bottom line. let's get to kate rogers with the details. >> you said it. the stock on the rise thanks to the top and bottom line beat for the third quarter. eps driven by the demand globally outside of china. for comps, 3% global increase for 9% gain in the u.s. 18% fall internationally and china, the big story here. comps for 44% in the quarter. there were ongoing mobility restrictions due to coded for about two thirds of the quarter with some episodic closures continuing. the company says customers are starting to return to the

routines in some sense, but there are short-term disruptions that remain your guidance does remain suspended for the remainder of the year. it was suspended last quarter due to china and that uncertainty. interim ceo howard schultz said quote, we have a clear line of sight on what we need to do to reinvent the company, elevate our partner and customer experiences and drive accelerated, profitable growth all around the world. the q3 results we announce today dentistry the only progress we have made in just four short months. alyssa, we should note on the call, howard schultz saying they're not seeing any meaningful reduction now in consumer spending. he's touting the brand's pricing power and also says they're not seeing consumers trade down. that something we did hear from mcdonald's and aaa over the week and particular starting to pull back. it doesn't look like it's happening yet for starbucks. >> they have had price increases recently.

>> that something all companies are testing. how much they can increase and when consumers will start to pull back. analysts have singled out starbucks because it caters to a higher income demographic that may be less price sensitive. looks like that pricing power remains for this brand for now. >> thank you, kate rogers. go to tim seymour who is an investor in a stock and a customer of the stores. >> and have been very loyal and defending starbucks for years. still on the stock and still go to the store. i do find the price points at some point for someone like me who maybe i can afford. maybe i shouldn't care so much. i always paid more for a cup of coffee 22 years ago when i went in there the first time. and defended that. at some point, it's offensive. i actually think it's offensive and i think their ability to get some of this price increases through is something that at some point they will not be able to do. i think ultimately the great news for this company is that 53% of their sales are coming through the loyalty. this is a company that now has 27 million in terms of loyalty customers and that this is where their sales are coming from. the numbers i'm seeing in terms of this quarter, karen points out as we talked about, it's summertime but 75% of their sales are coming from cold beverages. with a lot of ice, may be in

them. so better margins. anyway, i think these numbers were better than the street expected. there was not a high expectation internationally. the u.s. was 8.8. they beat them both sides. i think it's a relief. >> karen, what you think? >> i'm lukewarm on it. i think you and i were on the other side of it. i was a faded and you are treated. you are right. i agree with what tim is saying that was part of the reason i don't love it. >> get offended. >> i'm offended. and i have it downloaded on my phone. i have the app. i haven't used it in a while because i do find it offensive. and it seems to me that the consumer is tapped out. when we hear about them, inflation for gas and for food and whatever else they are paying more for. it would just seem one more thing, maybe they just trade down a little. the drink, the size or whatever. and evaluation is not super crazy, but it's significantly

higher than the market. >> they do what i do. brew it. we have an earnings alert here on caesars. contested has been on the conference call. and tessa. >> tom is on the call and he was talking about how impressed he is with her digital four way. how impressed he is with how digital is doing in such a short period of time. and he talked about the surprise beat on digital losses of $69 million versus the anticipated loss of 129 million. here's the big headline that just came out of the call. he said in july, digital nearly broke even. he says they have done the big spend on customer acquisition, grabbed 15% or so market share and then pulled back on their promotion on ad spending on the marketing. he predicts they are not going to get anywhere near the billion and a half of losses that previously he had predicted and was prepared for in terms of launching digital.

member in sports betting and i gaming, acquiring customers has been a very expensive business. he warned when football season starts back up again, those numbers are going to come back down. the ad spending is going to pick up, but it will be touch and go for a while. don't forget california ballots could send some sports betting towards the way of the commercial operators come november. if that happens, they will have to spend a lot more to open up the market. for now, big news that they nearly broke even in july. we are not hearing it from any of the competitors at this point. >> contessa, thank you. contessa brewer. jeff, how do you compute this onto a draftkings or penn national? >> i do think this is really important news. draftkings is a stock i followed for a while and the issue lately is a continue to push up the profitability and that's really not for this market. as they are spending continue to rise for acquiring customers. so i think this is very interesting. it's something that the markets will be looking towards. they want profitability now across segments.

so i do think it's meaningful. and i think that you are going to want a stock like this versus a stock like draftkings if the spending patterns continue. the last thing i will say in terms of a stock like this more broadly, we are worried about consumer. i'm worried about consumer. when i look across areas exposed to the consumer, i do think that this shift from sort of goods to services or experience spending is real. so i think that the spending that does take place even if it slows down, might be pointed in these services or experience direction. think that could help companies like this. >> we have a lot more fast money to come. here's what's coming up next. credit consequences. credit card balances making their highest jump in 20 years. so what's the say about the real state of the consumer? we break it down next. plus, a five-star day for uber. shares speeding higher on a revenue beat. so should you get in on the ride share surge? you're watching "fast money" live from the nasdaq market site in times sqreua.

we are back, right after this.

welcome back to "fast money" that we have an earnings alert on sofi. shares are surging 70% of its quarterly report card. kate rooney is back with the details. kate. >> sofi is better than expected numbers and some upbeat guidance adjusting net revenue was up 15% year-over year. it also saw record number growth and up to full your eps and revenue guidance. i caught up with sofi ceo anthony about the quarter and macroenvironment. he says yes, we are absolutely in a technical recession. we expect to be in a pretty limited growth environment for

the foreseeable future. he also talked about diversifying revenue for sofi and says quote, we continue to take share from existing banks , leverage the breath of our products to drive consistent growth. talked about very few companies having a lending business, tech platform. all those financial services products like checking, savings and credit card, investing in brokerage as well as insurance. but he says there's without a doubt, challenging macroenvironment right now. also mentioned a shift away from the student loan business. used to bring in about $2 billion in originations. right now it's only operating on roughly 25% capacity after the student loan moratorium. no expectation he says that you rebound until 2023. he also says they haven't seen a jump into the quincy's verse 05. it's around 2019 levels right now in terms of delinquencies and net charge-offs. he says sofi tends to skew towards higher credit quality , but the stock of more than 7% year after hours. back to you.

>> thanks, kate rooney. the stock was down 60% year to date going into these earnings. >> 80% in total. >> you very much caught it up in the thin tech reevaluation so the tech stock was down a lot. what made a pot today, the adjusted being decent and home loans are down and student loans being down. i think it's partially the almost 20% short interest. so if this wasn't a quarter that was going to be really bad, then i think the story of the short might be over now. >> i think it's a combination of also if you look at where the stock is come from and you now look at valuation in a world where we look at these valuations differently and we understand some of the credit dynamics. where there's actually growth and they got into about 1.5 billion on net adjusted revenue by the end of the year. that's four times sales. that's hardly expensive in the context of again where they are coming from which i know is something you are pushing back on tonight. we are not allowed to do that. >> i'm raising the question.

should we have ever been there? let's move on. credit card debt being its biggest jump in more than two decades. surging 13% as higher prices outweighed this plus the job openings dropped to the lowest level since last september. for more on all this, let's bring in mark sandy, she thought missed at moody's. it seems like it would be bad news on the service, but you say this is good news for the consumer. >> i took solace in a. bank card debt is up, but it still well below what it was pre pandemic. consumers are paying back their debt at a very high rate. bottom-line, delinquency rates are very low. we get data on all the credit bureau information from equifax. the delinquency rate is 2.35% if you go back pre-pandemic, which was a pretty good time. it was well over 3%.

so i don't really see anything in there to be concerned about. looking across all of household debt, the one thing that gives me a bit of pause is you see a big increase in consumer finance borrowing, and these are lower quality borrowers. enfin tech companies. that kind of thing. in the grand scheme of things, it's not a lot of dollars. so it's not a big macro. it's a relatively moderate. so i don't really see anything in the stata to be concerned about, at least from looking at what it means for the consumer and the economy. >> courtney here. quick question. i think it's great to see that dealing with these are low right now and you think it's positive data and we don't have to worry. but the question is how much of that is backward looking? if we are seeing inflation is starting to affect the consumer and companies are starting to see people trading down items and putting more on credit cards, how much of that you think is backwards looking versus what we need to look at in the future? if that makes

sense. >> i don't know. in the future it looks like inflation is going lower. gas prices were way in. we are $5 record high back in mid-june and are at $4.30 and falling. it feels like prices have peaked. you look at commodity prices coming in. so inflation is very high. don't get me wrong it's painful and it's coming into consumer purchasing power. but they are holding up pretty well and i think inflation is starting to recede. here's the other thing, they have a boatload of excess saving. during the pandemic, the high income households, they sheltered in place and saved a lot more they typically would and low income households got a lot of government support. so they have that cash cushion. i think that cushion is tiding them over. they are starting to burn through it and you're starting to see some lower income households in particular are starting to struggle with this. but broadly speaking, i think the consumer is holding him pretty well. she met mark, it's karen. thanks for being on. higher balances with this very good credit quality, what you think this means for banks who

have such a high margin item for them? >> it sounds good to me. i think there only worry, a lot of critical revolving. using their cards. delinquency rates are low. that all feels pretty good. the thing that makes them uncomfortable is the high repayment. people are revolving the car. they are using the card to buy stuff that's another reason why card balances are up a lot because people are buying lots of stuff and use cards. if you go out of trouble, you get an airplane ticket or hotel room and everyone's off doing that. you will use your card. you are not holding onto it. it's not debt. they are not collecting interest payments on it. so i think looking at it from the bank, they like to see borrowers use that card as a debt vehicle and so far they are not doing that. >> is in seeing the consumer zillion bad news in that it tells you that the fed has a

lot more wood to chop in terms of slowing demand down and the economy, to bring inflation down to levels they want to see? >> melissa, you are looking for bad news and i'm not going to give it to you. >> i'm not. i'm just raising the other side of it. >> that's fair. the economy has other problems. the housing market is definitely taking it on the chin. you have very significant trade deficit and balance. growth is definitely slowing and it will continue to slow. i'm not saying the consumer is outspending, they are doing just that part which is critical at keeping the economy from going into recession. in my mind, the american consumer is the firewall between an economy that avoids recession and when it goes into a downturn. the firewall is under pressure because there's high inflation. but it feels like it's holding firm and fire is now starting to recede if that continues to be the case. we have a chance to make it through without going into recession. >> all right. mark sandy, thank you. jeff mills, this is the notion of a soft landing, isn't

it? >> yeah, it is. you make a good point about the fed. you have this perceived pipit. but all of a sudden basically right after the press conference, you saw long-term inflation expectations jump by a significant amount. what the market is saying, it's way too early for the fed to pivot. we talked about that and that's generally problematic. i think the reality and courtney mentioned this, we have to look forward relative the to the consumer. we talk about monetary policy impact in the economy with long and veritable leadtimes. we are only just seeing the effects of higher interest rates on the consumer. you listen to companies and saying to consumers, okay. if you read through some of the data, you start to see the early signs of it and that's what i'm looking. at&t talking about later payments from their customers. these are saying there's no weakness, but that could be lower quantities at higher prices. similar for png. so if you read through some of the commentary, i think it's

the early signs of the consumer starting to slow down and that's what worries me the most. >> costs may be coming down, but these price increases and the consumer feeling, they are sticky, rents are sticky. it's going to be sometime before the consumer feels relief on that front. >> i agree. i think the housing market is another place where the fed needs to target. they want her to be more pain in the housing market. i go back to our conversation yesterday about regional banks. their lending and their ability to make profits from this higher interest rate environment is i think extraordinary. when mark pointed out to see seeing some tightening in lending status. that's disappointing after years of headwinds here that banks are starting to lend again. let's see how that goes.'s coming up, ride-share search. jumping 19% on the back of its eain. wl tell you what has investors speeding into this one next. more "fast money" after this.

the first time since roe v wade. >> speakera cup of coffee.

two splenda. >> lending tree. you win. shares of we were topping the take today. searching almost 19% after the writer company reported its first cash flow positive quarter ever. listen to what ceo said about those results earlier today at squawk on the street. >> of course, show me the money. free cash flow for the first time ever. it was a really, really strong

quarter. what's important to me is it was a strong quarter both topline and bottom-line. >> still after reporting a net loss of 2.6 billion in the quarter, is overstock ready to drive higher? tim? >> i think it is and i think upgrades are coming. this is only their second quarter of free cash flow in their history. there still a lot of work to do but if you look at the margin profile of this company, even in a world where you have moderation in the delivery business and in their mobility, these are pretty strong numbers even though i think also very well flagged. i think there were some expectations and some negative headwinds coming in, but i think hard to chase this one on this kind of a move, but to me, uber is in a place for this stock looks really attractive. >> lift is up 16.4 percent as well. >> i like lift. is a pure play. some of the other parts of uber that are more noisy delivery and whatnot. but it's a huge milestone. in this era.

>> right. >> i think what i like to see is when i look at some of the bigger macro themes, they have benefited from the idea that people are going more from goods to services. people are traveling and using their universe. but when it came to uber eats, they recognize they are not seeing people trading down. the consumer is continuing to be strong so another one of these is showing. we talked that the consumer is on a good footing which is great. we are on good footing. maybe not good news for what the fed will do next time, but i'd rather hear positive news. >> coming up, we get a read on what's top-of-the-line for retail investors. markets continue to be volatile this year. more on that straightahead, plus shares of draftkings jumping into the green today and that had options traders piling in. how they are playing that name next. that's when "fast money" returns.

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end of the week. that's in line with how much the stock has moved after his previous reporting quarters. and the largest trade we saw was a purchase of the weekly 16.5 call. somebody bought $0.45 and a bet that the stock would finish the week higher. makes sense to use options on this one. it has been highly volatile period of over 35% in less than the last three weeks. >> less than three weeks. tim, we were talking about the stock being up 48%. >> i see also 107 million shares traded today which is about eight times what it's been doing over the last three months. you make the most money when things go from just terrible to bad but those numbers and the announcement by caesars today in terms of their digital and online sports betting, it's become cash flow breakeven which is extraordinary. talk about a competitive and an overly aggressive predatory environment from competitor to

competitor out there. every other commercial on tv was a sports betting ad. it still feels like it. but anyway, that's great news for draftkings as well. >> the stock is up 1.5% after hours. thank you. for more options actions, tune into the full show friday, 5:30 p.m. eastern time. we are getting a pulse cckn he o the retail investor and what's topping their market worries. when fast money returns. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions

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only from xfinity. unbeatable internet made to do anything so you can do anything. we convert them to dvds, thumb drive or the clock. legacy box is simple and safe with over 1 million satisfied customers. with the legacy box .com. welcome back to "fast money". it's been a rocky first half of the trading year for markets by the recent rally off the mid june lows maybe using investors anxiety. invest opd a is out with the sentiments and tracking the pulse of retail investors. editor-in-chief caleb silver joins us with a look at the results. welcome back. so consumers are worried. they are anxious. >> they are very anxious. they are still cautious but warming up a little. it reminds me of little kid walking to the end of the diving board and saying, is it time to jump in? can i do it? not totally going in. a little less worried than the last round of surveys back in june, but still highly elevated when we look at the last couple of years. >> they are not buying the dip. their positioning. what's your top concern?

>> it's inflation just like everybody else is concerned. they are concerned about geopolitical uncertainty. concerned about a recession. they are also concerned about these rising interest rates. it's the whole gumbo of uncertainty. things are starting to clear up a bit and kryptonite for investors. they can't see, they stay on the sidelines. >> how good of an indicator or country indicator is the stata? >> it's a pretty good indicator because these are people who are self-directed investors. they put their own money to work. some use financial advisers. when they come in, they are coming in with the rest of the wave, right behind the institutions. pretty good indicator but shows maybe the last couple of weeks, they felt better about things. we did the survey this morning so this is fresh off the press. and they are still a little cautious even though had a nice rally.'s payment you can see the sentiment among these retail investors that are buying a lot less cryptocurrency.

not too many entities anymore. not too many single stocks even which was surprising to me. >> the no fly zone is crypto. a lot of people staying out of it and a lot of folks in there, about a third of our readers in it, now about 27%. stocks outside the u.s., no fly zone. individual company stocks except for the mega caps which are the home favorites. they love the big cap stocks and think of them as value stocks. and if teeth and options off the table completely. >> it seems the mega caltech are the money markets. they are a place to park p my question is, how much powder do you think there is with a retail investor? i've been amazed at the resiliency of the fund flows coming from the retail community. even through some of the worst of times, we are seeing the same fund flows we were seeing from last year. but talk about dry powder and talk about a group that has taken the market to all-time highs. are they behind us now still? >>i think so. the fact that they sat on the sidelines for the past several months mean they want to get back in. these are active, retail investors.

long-term investors that want to participate. they are looking to get back in when he feels a bit safer, but they won't go back to those risky areas from 2021 where a lot of money was made and a lot of money was lost. these are folks like the tried and-true stocks, from apple all the way down to ford and j.p. morgan. they like the big mega caps. >> the 2021 was a peek in investor anxiety? so investors are anxious, but it's much lower than what we have seen even recently. >> absolutely. the peak was 2020, april 2020. it's come way down from that so they are not as anxious about market events. they are more concerned about the macro picture but that's keeping them away from the stock market in general for at least the last few weeks. >> do you get a sense of what investors are doing outside? i know your purview is stocks in their portfolio but in terms of housing and other things, how do they approach investing in general? as of the time to be just hands- off overall? >> when the market cools off, they start looking into things like how to get more equity out of their homes and what's the best time to put money to work in real estate? these are active investors

looking for opportunity wherever it opens wherever they see the open door. right now, they don't see a lot of open doors but they are inching closer again to the end of the diving board. i think we will get more confidence in the market and they will come back in. >> always good to see you. thank you so much. editor-in-chief of invest opd a. we were just talking about robin hood and some of these other retail brokerage names. >> one of the things i noticed with some of my clients in the wealth management world is there's a bit of a fo m.o. here. people who had a little bit of powder and again, i'm looking at caleb's notes. the 30% are predicting a 10% drop still in the next three months. so sentiment early bad, but a lot of folks who were well advised or have some cash and some powder. and really feel like they might be missing one of those moments because let's face it. those covid lows, people use the term generational buying opportunity i think too much. but that was an opportunity that truly you were able to buy stocks, not even of those lows. so that's what i see from the retail investor and we said that there wasn't a by mentality. i'm seeing some of that again. >> i have to agree with that and i've seen some of that with

my own clients. i see this as good news. people, when they are the most nervous, that's when you're going to get your market bottom. by the time they wait for the clarity they are hoping to find, at that point the markets a price that in and it's going to. this is something you want to take to an investor. look at this as an opportunity because people are nervous. is probably the time you want to start getting in. >> jeff? >> i just don't think they are nervous enough. price affects mood. it's amazing how that always happens. i don't think sentiment is the coil it was heading into earnings season. i mentioned bull bears. you see outnumber bears for the first time since april and seeing it in some of the stata. i think the pressure and that anxiety easing isn't necessarily a good thing going forward and i think it serves to some of the momentum out of the rally we are seeing now. the other thing i thought was interesting is people are buying less risky stuff. again, not surprising. i think that in particular continues. i keep talking about quality growth. those types cpani. ofomes i think you continue to see that going forward. >> up next, final trades.

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issued week guidance. airbnb down almost 9%. record bookings for the company announced a $2 billion stock buyback. advanced micro continues down about 5% after issuing weaker your guidance. on the upside, paypal still holding onto a 12% gain. vantec posting better than expected top and bottom lines. an alien management has a $2 billion stake in it. sofi is soaring. up 7% after raising guidance for the full year. time for the final trade. jeff mills. >> i'm on the opposite side of tara but i'd be a seller of banks. look at the kbw bank. it looks like it's installing it at 50 day. think the economy continues to weigh on long-term rate so i think the rally we've seen in banks fades from here. >> courtney. >> i like starbucks. they have a loyal customer base as shown their pricing power may be worth a look. >> happy birthday, mom. it was a great year.

and disney. they report next week. this trait has been one of the themes of the week are very strong and i think your pricing the worst into the media. >> happy birthday, wendy, my sister. i am bearish and am also a long my mission is simple. to make you money. there is always a bull market somewhere. i promise to help you find it. mad money starts right now. hey. i am kramer. welcome to mad money. i'm trying to save you some money. i don't want to just entertain, educate and teach as well. call us. again, it is easy to get overwhelmed by the course of people clainth