powell said no not really. we just have to set the stage. and they've set the stage. and it is one year of perhaps 5% change. >> and they need to be a little bit patient to let it work through the system and see how it plays out. >> eventually. >> i'll see you tomorrow all of you as well "fast money" is now. right now on "fast," a rate surge and a currency climb taking a toll on markets and now snaps after hours miss cratering that stock will the rest of tech follow we'll go inside of the numbers plus a tesla tumble. shares falling to 52-week lows as they call you know what on elon musk planes and later, at&t dialing up big gains. when is last time we said that rolling the dice on las vegas sands and the options action on an energized this is "fast money" live from

the nasdaq market site tim, karen, guy, dan. >> let's get right to snap losing a quarter of the value since going public this is the street's first look at the struggling online ad market let's get to julia boorstin. >> that stock down 25% after the company beat on earnings and it grew its users faster than expected accelerating daily active user growth to add 16 million in the quarter. but revenue missed by a hair as after revenue fell short of estimates and declined both sequentially but the source of concern is warnin warnings that fourth quarter revenue will be flat for 6.4% revenue growth as snap anticipated revenue growth will decelerate for now which is seeing 9% revenue growth throughout the quarter. siegel writek, we are fining that our advertising partners

are decreasing their marketing budgets. especially in the face of operating environment headwinds, inflation driven cost pressures and rising cost of capital and the company noting that overall users did increase total time spent watching content in the u.s. decreased 5% from a year ago. carl >> not a good metric julia, thank you let's trade it dan, what do you think >> i'm long it i've been long calls i think there is a two down five or six up scenario we have the have two down or three down it is massive. when you think about all of the news that we've had from august with the job cuts and restructuring that we saw in september, the market liked that in september, right. so the stock had rallied and come back here karen, you said on the desk the other night, this has not gotten out of its own way in a long time i'm buying more. i bought some on the plunge below $10 on the last really big disappointment here. and i just think that, again, if elon buyed twitter, a company

that will do $5 billion in revenue with a margin about 60% of much lower arpu than facebook, then this thing is way too cheap. even though they're in the throes of a massive downturn so to me i think it is interesting, if you're new to the story. but it is a tough one here because it is a hat size now. >> is it big enough to be a tail that is what i'm hearing st is it systemic. >> i think directionally it is because the apple privacy is still weighing them down and i think meta is going to have the same issues. but i think that alphabet should be much less effected because of the search, not so dependent on the apple. also just the broad talk about advertisers sort of, you know, pulling in the purse strings a little bit, direct response advertising, the brand

advertising is not doing as well so i think they're going to do less of that so, i think that will read also to meta, unfortunately, which i own which has been awful this year and i think less so to alphabet. i think we've seen alphabet be beneficiary in some ways. >> we always ask this question is this a snap issue or is this an industry issue and think we need the industry has headwinds and they have budgets being cut and anxiety and we also know that every media company has been hit hard and often. and i would say that they were the first ones to get knocked down and snap has done this many times. but i'm going to attribute this to snap. because when you think about their model, they are at least highest in the funnel on attribution in terms of where advertisers could say i want to snap and give that budget to and they can't do that and the ios issue hits them harder than anybody. facebook is getting the sales done on their platform so to me, i look at this, we all know it is a difficult time and if you're an advertiser when

you're cutting budgets, snap is the first place to do. so i think that is really what it comes down to i think it is slightly structural at a time when it is a difficult place. >> i go and look at it, yes, this is a disaster is it a 25% disaster on top of the move we've seen. this is flat lining at months for $10. and if you're making the jump that google should be down in s sympathy, i understand why you are doing that and why it is wrong. and flirting with a 52-week low sits up well and snap, we talk about the three day rule and say that is trading north of three or four times of normal volume and i think you could buy this for a trade. so snap for a trade and google for an investment going into erjs next week. >> and it is not just a snap thing but it is a tiktok thing how they're taking share within this demographic if quwe're in a recessionary

environment and you're focused on digital ad spending you're going to cut off a teen audience that doesn't have a lot of disposable income that comes first. maybe it is apples to oranges but if you're thinking about things from a strategic and we just saw star bird make a couple of activists investments in the software space, you look at this thing and evan spiegle this great product guy, they're cutting back on all of the things that they were getting into hardware and other things and they've cut staff and they're going to cut to the bone and get back to that app that one thing and if elon thinks that twitter is start of building an x app, that is everything sort of app then this is a very unique social property to some other strategic sort of things so to me that is my bet. i'm picking out multiple months if not years. >> is the valuation, and i'm asking, does it look interesting at $8 a share on a rev per share. >> i'll look at this

they're going to do a little less than $5 in sale this year and so is twitter. they are being taken out next week supposedly for $44 billion. that is all i'm going to say they monetize better so to me, i don't know you tell me. >> well to me, i look at meta and quite a similar space. the valuation is so vastly different for a company with so much more -- snap is plenty of resources. the only thing that it doesn't happen, they're not a takeover candidate. >> this is a take private. if the -- >> private in this market. why not? because it would be -- >> they have $4.5 in cash and they're losing money and they have a lot of debt it looks better on paper for an lbo than twitter does. >> but he admits he's over paying. >> by $25 billion and this is a $14 billion enterprise and they have the same user base. >> coming out of netflix there was a notion that this gave you

a path to own but does it do this week? >> i understand what you're saying i understand how people made that leap. i didn't see it. netflix is a netflix story in my opinion. it always has been but i get it this undoes it, absolutely, because it is dragging down fames like facebook and google and pinterest. we'll rattle them off and we could put them up on the screen. this is not a snap specific thing. think netflix is reed hastings running his business better. >> and here is netflix with an ad supported model and at a time they want to show some numbers that is what the numbers were all about for netflix. no one cared about their subs. in fact, they obviously beat on the upside but it wouldn't have mattered if they missed on the down side. would you get back to i think a lot of the media companies that could attribute the business to them but also have very large bases are the ones priced on

recession very early and i think these have priced in recession these are not companied with credit issues and that makes them interesting. >> the other big move, we'll see in the morning whether we're talking about this on the ten-year or the dollar and the big move in the highest level for the yen since '90. kathy, i wonder where you think we are in terms of chapters of stress and how much longer this could go on? >> well, i think we have to look at in the near term, the u.s. fed policy is the most aggressive but fed fund futures are pretty much tied to pricing at 5% rates which is what is priced into the u.s. dollar. so while i think it could be another push higher, we got above 150 in dollar yen and that was important for investors, i don't think we'll see much more momentum i think for long-term investors looking at the u.s. dollar, now might be the type to scaling into the dollar short trades because while the fed is certain to raise interest rates by 75 at

the next meeting, their confirming this move in the dollar i don't think they have much more of a surprise to get them back into additional long dollar trades. >> kathy, it is tim. thanks for joining us. but this move in the end is so extraordinary and so extraordinary and the reason part of it is the boj is paying no aettention to inflation and o mismatched on policy does that concern you. because people talk about yen and they talk about it in terms of policy failures an systemic and this is the stuff that frankly i think a lot of equity investors don't get a chance to look at every day. >> yes, you're right they have really struggled with managing the currency and also where inflation is at. and they're under a lot of stress because at the end of the day, yep is weak and bond yield is rising and so the bank of japan has a policy meeting next week an they need to take action i don't think they're ready to

but if they really want to put a halt on this monve, they need to catch up with the other central banks. >> kathy, currency crisis is a term you're hearing more and more of. and the moves in developed market currencies are unprecedented. how close are we or are we in the midst of one now >> well, i think, you know, it is a cost for a lot of countries. and i think we are in a very sens senseive position. the gas is pressed at the signs of weakness. so i'm worried i this i we may be in a situation where growth could break down very aggressively and quickly across the globe an the courtesy factor won't be able to pick up the slack. and overall it could be become a serious issue. >> last one, kathy goldman today, we're inclined to think that the u.k. fire has been arrested and that the u.k. story will now move to the back burner you think the pound said that today? >> i completely agree.

i think that the u-turn that they have in terms of ousting the prime minister and jeremy hunt throwing out the tax cut plans is going to lead to a u-turn in the british pounds the way the pound is moving now. saw this as a positive move and it will restore confidence because a lot of the policies that they caused a chaotic mess in the u.k. markets. so i think we're going to calmer times and the pound had dropped to very weak levels. we're going to see bargain hunters in the latest developments. >> kathy, appreciate that. let's trade this, karen, what do you make of that earnings guidance or analyst day or corporate result. >> right we saw p&g, and it is interesting, sometimes the market cares and peoplizes and sometimes the market looks through it. >> that is when there are bigger fish to fry like right now. >> right

i think now everything is sort of through a negative lens if you see ump wallet, it is not -- it doesn't have a occurrence issue, just the recession looming or here already, i don't know. so i feel like we will get penalized for fx hit. >> how long have you been with the cnbc network >> 20. a little more. >> so you have a good memory how on have you talked about currencies in your 20 years. i guarantee not that often. >> well think about it it is coming into your morning show and that we're talking about it and the bond market volatility is problematic. >> does that mean we're toward the end of this. the dollar has been rising for a year and a half. >> i could understand why you would say that. >> i feel like we're at a place and if you read that bank of america fund manager survey, long dollar is the most crowded trade. even for people that don't buy the dollar

it is their view so i think this is a tail wind i think we haven't heard about the dollar from the multi-nationals because there are bigger issues out there. it is a great time to throw excuses out there but using the dollar as a hend wind, i think no and you see the boj get in gear and and the yen will strengthen. >> given what tim said, i'll buy that and the volatility is not going away and bond market volatility which we have in spades and now currency volatility will manifest in the equity markets an we're starting to see that. so none of this, by the way, is healthy. none of this is a good sign. and if we do reverse, it will probably reverse in a meaningful way. and at a certain point everything makes its way into the equity market and i don't think we're there. >> over the last year, the sell-off in the stock market, and the s&p down 22% feels

orderly. and the fix seemed pinned in the high 20s or 30, and that means that people could can hedge are hedged that doesn't mean their wrong. when i see stats about putting buying last week versus call buying and whatever. that is going to go poof and those people are wrong are means that sentiment shifted. maybe we've become sophisticated enough that sooner or later it does have to work on the stm as i've said on this desk a lot we've had how many panicky days in the stock market. after the reversal last week, to me, i think next week will be a big week for the market. >> this week, people seem to be making the assumption that rates are stabilized they have gone up every single day. it is go from 358 to 420 in nine sessions and we talked about this last night, not only are they north of 5% they're over 5% today but

they're moving out the futures curve which means it will take longer to get to that place and plateau. and rates are a big problem. you change your equities when you discount on the ten-year these are all things that i think unfortunately -- >> bua agree that the fact that the s&p does here, hovering above the recent lows it is acing to complacent. >> i think it is difficult not to plum lower on the s&p with rates moving higher and down doesn't make sense. >> certainly reflected in the fed speak this week. coming up. after the bell, whirlpool and csx moving in opposite directions after results we'll have that coming up next plus tesla tanking shares hit the low elf levels in over a year on the back of last night's results. elon is far from the apple aramco market cap. "fast money" is back in two.

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see how easy it is to save hundreds a year on your wireless bill over t-mobile, verizon, and at&t. talk to our switch squad at your local xfinity store today. welcome back to "fast money. a couple more after hours movers beginning with whirlpool, stock sinking deeper in the red after a miss on the top and bottom

lines. shares mit a two-year low during the session today. kristina partsinevelos has more. >> well whirlpool shares put through the ringer after warning about a weak demand. they cut the full year guidance and said it would produce reduction volume by 35% in this current quarter. it is fully eps was slashed substantially to $19 from a prior range of $22 to $24 per share. so where is this weakness coming from north american sales were down 7% but it is europe and the middle east and africa that contributed to a 28% plunge in revenue and still not bad enough whirlpool ceo warned that, quote, we see these challenges persisting into the first half of 2023. shares are down over 4% in after hours and doan over 44% year-to-date. >> let's trade it. big ticket weakness. is that what it is about. >> it is also about inflation and so they see softening demand when you have a production cut

like that, you can't be so efficient. you can run as well. so they're going to have obviously an earnings cut. i would assume big margin hit. still, the valuation 6.5 times earnings so go into this. this is a big cut. 19 from 21 or 2e62. but at a mid single digit mumt multiple, the market wasn't expected a lot but the pack rows are not great here and i mean all of the other things, inflat inflation for them and then hitting the customer as well. >> this is a cheap multiple for whirlpool relative to is itself and these are different times. but they didn't get the best of both worlds. they lost during supply chain and they couldn't deliver and get the product out there and now it is a situation where you're still seeing some margin pressure the knock on this is best buy and home depot and loweez where people are buying these things and buying 15 other things

so i would be interesting to see how that goes. >> tim dropping some van halen for you and it is a sammy hagar. >> no, we've talk abouted this. >> but i like the rock hand as you do it. so we'll debate best friend man on twitter, folks. >> first there is no debate. but there is a debate as to where you buy whirlpool. i think the low close was 115 and we're within shot of that now. if you get there, you buy with both hands but valuation is a reason to own the stock and it is a real reason so tim is right to point out home depot and the other names but i think 115 looks good. >> i was on 5150 i didn't realize i had done that so gooder to you. >> i pointed it out for you. >> as a pull forward story like peloton and webber and other names -- >> a little bit. but i think tim made a good point. if you think about home depot,

there are other outlets rather than just the manufacturer who has to deal with the headwinds of the strong dollar and the other dynamics but then look at a build product, making new 52-week lows they report next week. trades at 10 times earnings. a cheap valuation and tim, i would say relative to his history and cheap gets cheaper and we haven't had the official recession. so again, we're still waiting for the whole housing market really to slow down. to start to see the data so i think these things have lower lows. >> and i have some fremont today on a stock that is down massively over the last six months as much as i say the companies are run better and i they freeport is, i think there are still some debt pay down and the best time of the cycle for them are behind them. >> once you make this stuff you have to move it around csx recouping the day's losts. bertha coombs is on that

tonight. >> it is beating on the top and bottom line. adjusted earnings of 52 cents was 2 cents better than the expectation. revenues of $3.9 billion compared to $3.74 billion estimate the giant saw growth in every segment pretty much. led by 36% in coal, even as volumes were actually down 2% year-over-year due to production in the mines 31% gross margin in automotive as the company said that the semiconductor challenges continue to ease and 26% growth there trucking due to higher pricing and fuel recovery and they've been able to attract more drivers. the operating ratio was 59.5%. operating expenses up about 25% year-over-year fuel costs up nearly $200 million and the company included $43 million in labor expenses related to the tentative union agreements crew availability did improve during the quarter

but csx is starting to, well they're going to target double-digit revenue and operating income growth for the full year. despite the fact that they say that the situation does remain uncertain but they do see things starting to get back to normal in terms of shipments, carl. >> bertha, thanks you. let's trade that i'm glad she mentioned efficiency. >> we talked about j.b. hunt and that lines up with csx is sayinged and for you technicians out there. carter is watching, go back to february of 2020, the stock had resistance around 25.5, $26 and pounced off that and pasted resistance and becomes support and you buy it around here and listen, this trades at less than a market multiple on a stock that should be doing better, even in this environment with the market trading lower i think you could own csx here. >> and emp had a very different

story and comparison they had some labor issues and inefficiencies and volume down i dough know why it was so different. but good for csx we've seen other transports that have had labor issues. good for them for solving that problem. >> you think you get in front of any transports if you believe in a recession next year. >> so, guy, when you and charles penned the -- >> that is an aged jeoke and it is not funny, because i'm -- >> with the dow theory >> the transports needed to confirm what is going on in the industrials and they're just not -- they're leading you to somewhere else and in my opinion here so i think that was the thesis here i'm going to stick with it, guy. >> he was at the button wood tree. >> is there a problem with that. the world was a much different place. >> there is more "fast" to come. here is what is coming up next

>> announcer: tesla heading downhill, shares nearly breaking below the $200 mark as investors get a view under the hood. so how long will delivery delays keep this name in the shop the details next plus oil options traders fuelling up on one stock ahead of results tomorrow. but don't count on high energy when the numbers cross you're watching "fast money" live from the nasdaq market site in times square. we're back after this.

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♪ icy hot pro. ♪ ice works fast... to freeze your pain and your doubt. ♪ heat makes it last. so you'll never sit this one out. icy hot pro with 2 max-strength pain relievers. welcome back to "fast money. an update on elon musk's takeover of twitter. washington post with a piece

reporting that the tesla ceo has told potential investors he plans to cut 75% of the company employee base on a day that shares for tesla dropped to the lowest level since june of last year, crossed below the $200 mark that is a big number we're used to five, ten, 20% of a work force. >> what does that leave them with i'm surprised he would announce that before he would close maybe he's hoping people leave in droves an that is an out for him. i don't know. >> if you're a twitter employee right now and i'm sure some of them are watching, are you sticking around for that no you're out the -- >> your resume is out there. >> and now let's talk about tesla. and excellent job by dan nathan and we get a lot of haters in the morning show because we've been bearish and it is also been right. tesla is down 50% from the all-time high in november and going lower from here. there will be a point to buy tesla. i think it is 175 and you buy it

when it gets there but it sure feels like we're headed that way, carl. >> you were talking about twitter earlier, in framing it through the lens of snapchat >> i look at this and i see this as posturing he does not want to buy it the people who committed to the equity don't want to buy it, and the banks committed to debt don't want him to buy it the only people that want him to do it are twitter shareholders and think about the employees getting fired, not well for them and in a bad job market. so if you think about that i think this is posturing and we'll get to that date next friday and i don't think the deal will close. and this is not good for tesla stock. >> so we get back to -- >> maybe >> but it is been twitter and 52.40. why are you even hanging in there. >> $54. >> so we have two bucks. >> and the whole thing was a ruse should i sell stock to pay taxes and never thought a court would make him buy it.

he's been the best-seller of this stock from $1.2 trillion market cap all the way down to the lows down here. >> are you saying the twitter thing was a ruse to get him to sell tesla >> no way. you don't sign that. okay >> we'll see >> okay. we'll see. it will be interesting >> we get a -- here. >> i'm the only person that i know that doesn't think he'll end up buying. who knows. maybe i'm the dumbest guy on this desk. >> the date is approaching fast. >> coming up, we're keeping an eyes on shares of snap the stock plummeting after the earnings report tonight. a top tech analyst will join us next to break down the results 25% loss after hours plus energy options. we'll hone in on one name gearing up to report tomorrow and that has options traders piling in. how they're playing it when "fast money" returns >> get your trades to go with the "fast money" podcast cap us any time, anywhere. follow today on your favorite

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welcome back to "fast money. another look at the major down side reversal we saw today on the street

the nasdaq up nearly a percent and a half at the highs and closed down more than half a percent and the s&p and dow did follow suit. ten-year treasury closing over 4-2 and the yen the weakest against the dollar since 1990. take a look at shares of tennant health care. outlook was below expectations and they did announce a buyback program. that seems to be the trend some bad news, buyback. >> a billion dollars buyback is probably a $6 billion company and that is significant. and this fourth quarter guide is a joke they guided $1 to $1.54 and that is coming off i think consensus of a buck 80 none of this is particularly good so the stock is trading 46 or so i'm looking at it now. it should be lower this is a name that i've liked in the past and still like but this guidance is a disaster. i would like to see what they had to say

with that said, their still probably the best hospital out there but the guidance, somebody has to do some explaining here. >> on the flip side, el vance had good numbers today, lower pled cal loss ratio so maybe that is dollars that would have gone to tenant but didn't. today it is spot on for a long time. >> to your point about it seems to be the buy back the stock when you are lower and this company is a joke. they have like $5 billion equity market cap and $15 in debt and it just seems like -- >> it doesn't mean they buy it back either. they could make an announcement and it is a great headline but it doesn't mean they're buy that stock. snap does the same thing they talked about a $500 million program. big deal. >> and another look at snap. tumbling to the lowest levels since march of 2020. advertising are fleeing. brent phil joins us for another look brent, what stood out to you in

terms of the metrics, the guidance and even after six weeks ago telling us that august was accelerating >> what stands out is they don't have a clue on visibility. they're basically saying revenue growth is accelerating what they see now but they're saying it is going to drop off a cliff in the back of q4 taking revenue growth to zero. this is a company a year ago said they could grow 50% indefinitely and everybody is like they jumped the sharp there is no way they make that number if they get to zero, it shows you they don't have any visibility in brand advertisers and they're pulling back and this is a sign of the macro economy. we've said this before advertising is the first thing a ceo cuts at a company. when we go into a macro pullback and so ultimately we don't think that google and amazon and the rest of the advertising eco-system is going to be as bad as snap. but we're seeing this. we're seeing it in the results of adobe they have exposure to advertising markets.

these markets are softening and it is a direct re-election of the macro coming down in the tactical we're all seeing across the broader macro landscape. >> brent -- >> part snap specific, this is advertising and clearly i don't belief google will be as bad but i think everyone is bracing for the worst. >> so i think you've addressed the main questions so i'll get into then the companies that have been already marked down multiple times that agree are not snap where are valuations good when we know that the ad spent is coming in. >> i think at google at 9.5 times ebidta and more than s&p so google has good support i don't think anyone in advertising right now has support. we're seeing multiples in internet fall out of the sky there have been named like lyft that go and uber got to one-one

halftime sales even though snap looked cheap going into this, the multiples don't matter as long as the fundaments are deteriorating, no one wanted to be in tech and i would say is that our clients continue to be overweight energy and other sectors and tech has given them no reason to come back in. so our clients are telling me, hey, thanks for talking about software and internet but i'm talk to you in 2023. so it is an awful tone and everyone is out of the group and i think right now everyone is just waiting for all of the companies to re-set numbers and we've sen this, there is going to be a lot of black ice this winter and q1 in '23 until they cut the numbers hard and we're starting to see almost every single tech company cut numbers. that is probably not going to come a head until early '23. and that is why we're concerned about the multiple compression and i heard the show earlier when dpan was talking about

below $10 on snap. how could twitter worth $44 billion and this is worth $13, $14 the ebidta and the numbers were okay, it was just the guide was awful. >> as for snap itself, we spent the year going through earnings report after earnings report all year long where we get 25 down after the market do you think it is worse at snap than just at about any peer. >> they're going through some turmoil. they lost two of thetop ad executives to go to netflix. so you have that happening you have, i think the advertisers are saying they want to go where the wallets are. so my kids love snap they're on snap. they use it more than they did a year ago but advertisers aren't there because the younger audience doesn't have the capital the participants hav-- the pares have the capital so you're going to see

advertisers flock to amazon and still spending and they're going to trade desk for connected tv and they're benefiting in a big way. so others are benefiting from snap's failure and obviously there is a tiktok issue going on as well here so i think it is competitive and it is dollars in advertising moving to proven spend and then just overall macro slowdown which the first thing is, it is a stereo knob and a ceo could walk in and say no more ad spend and they don't do to that salesforce budgets this is the first place to cut and i think it is an indication where the macro is going for the broader market and again there is little visibility that we could see right now. and again snap starts at a zero

for the quarter, that summed it up right there it is zero visibility. >> brent, appreciate that. let's trade it what do you think in light of all of that. >> i think for investors that watch the show, they're long-term investors and evening he said about google and facebook, but i'll stick with google is why you should be nibbling in stocks like this we're talking about a company with a peg ratio of less than one. throw some recession out there, throw ad budgets being cut i i think these are the times that these companies go on sale and google's business doesn't get destroyed here on a relative basis they are the place that people will go to. >> do you think it is instant knife to add budgets because pga was maintaining some budgets because they believe their pricing is going to hold. >> i believe we we could believe snap

we'll see if meta confirms that. i think directionally it is happening. maybe snap is massaging it to look better. but alphabet is my biggest position so this is painful for me as well but i just feel like the valuation, and i know he said black ice, that is an interesting term >> scary stuff i lived in russia and there is a lot of black ice there. >> and i'm long and i'm staying long i don't think i would sell it and buy it back and figure out when i'm staying long i like the name. >> we have a history lesson here by the way, david lee roth in a landslide on the wall number one. >> back to van halen. >> i'll go to google i think all roads lead back to google which is a stock on valuation could make a compelling case into earnings next week. and facebook, meta, they're problems most of them are self-inflicted 126 now. worth a whisper of their 52 heff week low and that is where you think it is now and even with the valuation it is compelling how poorly it is traded. >> remarkable.

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welcome back to "fast money. we're counting down to earnings out at schlumberger. they have numbers before the bell tomorrow and option traders are betting there is weakness to come let's trade it with mike hey, mike. >> how are you so in schlumberger we saw three times the average daily put volume they are implying a move of about 3.6% in line with the 3% that the company has averaged over last eight reported quarters an the busiest contract for the october 45 puts. we saw over 22,000 of those trade for about 44 cents and that was largely the result of some big institutional purchases that took place about 20 minutes before noon. we saw about two-thirds of the volume trading at that time today. buyers are betting that schlumberger could fall after they report earnings tomorrowing morning. now it is possible they could be hedging because the stock is up over 8% since last friday.

>> let's trade that. tim, what do you think >> i'm long schlumberger the free cash flow gets better i think the margin and growth gets better. this is a digital companych this is a tech company, they have digital and less capex intensive and higher margin businesses that lead the industry and think we'll hear more about that >> for more "options action" tune in tomorrow at 5:30 p.m. eastern time coming up, big moves in different sectors. regionals getting wrecked. at&t on a tear and lvs, our trader triple play is ne wn 'rba itwo.xthe

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can. welcome back to "fast money. time for a trader triple play. first up, regional banks rattled today, posting losses bigger than the financial sector. all hitting at least 52-week lows even as yields continue to rise let's trade that key was another problem today, karen. >> yeah. i'm surprised. you think it would set up nicely

but we're seeing deposit runoffs. so i was surprised i thought that i would do better but i think it is the dumbest names of all time. >> truist. >> it is so much better. dress barn also really dumb and the third worst, the athlete's foot which used to be a thing. >> this is a fun game. >> it felt like an entire section. >> athlete's foot, that is awful. >> and the letter t is tearing it up. at&t on a strong earnings report and they see wireless revenue rising stock is up 10% at highs, best day since march of 2020. let's trade that telecom name. >> i would rather have athlete's foot than at&t good for them today. i saw the ceo did a great job explaining things talked about how in order for the yield to go lower in terms of dividend, the stock has to go higher >> that makes sense. >> that helped me.

until recently at&t has been awful for a decade i don't see any reason why it is going to stop being awful. >> it seems like the players were fighting each other now they're ganged up to fight an entirely different industry. >> and it is never been more competitive within the energy and the failed media forays and remember the only thing at&t had for it was, in fact, that it wasn't named dress barn and it had a big dividend and at this point, who cares about a big dividend people owned it for a yield even if total return was awful and i think in this environment, you don't need at&t stock. >> and you have to point out, t-mobile here. the relative strength relative to verizon and at&t and the market is up 17% and it is trading well so there is something going on over there in this competitive market i don't see the forays interesting. the peer play is t-mobile. >> and las vegas sands jumping

despite a loss revenues did beat. tim added to his position today. >> i have owned this stock around this level for nine months and it is frustrating but i feel comfortable about the balance sheet in broader asia, so in singapore, sands showing some real traction but the multiple is down two-thirds from where it was and i just -- what we hear about these guys and forget the maddance going on in china as long as they hold the licenses and i think we have some good news in china at end of september is not simple but very rewarding. ioknow you check and squawk on the street and you should good. but if china zero covid policy goes away and the world gets back to some semblance of normalcy, tim is right, these casino stocks are way too cheap. >> once we get done with this congress in beijing, that is the

time when they make the move. >> the lead-up to the pandemic, the story for the names, wynn in particular, was macau and now it is dead. and if you like, to your point and you say what is that being valued at, that was two-thirds of revenues, when it bottoms out >>hen here it is the way to go. wwe come back, your final trades ♪ ♪ this is the moment. for a treatment for moderate-to-severe eczema. cibinqo — fda approved. 100% steroid free. not an injection, cibinqo is a once-daily pill for adults who didn't respond to previous treatments.

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time for final trades. let's go around the horn dan. >> i have to wish a happy birthday to a very special, probably the luckest woman in the world, my wife nap, i'm long and i'm adding to it here. >> and as we talked about for most of the hour tim. >> a company that is not snap and it is google and maybe it is one, or 1.1 or 1.5. >> karen i love that one. the one year treasury well north of four, i think it is a great reward. >> and tim is playing across the street literally if you're in the area of times square, you can go because tim is a great dumber and yankees

are playing. and lockheed martin has been on fire, tim seymour. >> yes thank you. >> it is great to have you guys. we'll see you guys if the morning with am ex and schlumberger and verizon we'll see how snap opens thanks for watching "fast." "fa. "mad money" with jim cramer starts right now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer! welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you a little money my job is not just to entertain but to educate, teach and talk about days like today where it looked great and then just gives it all up. so call me at 1-800-743-cnbc or feet yes @jimcramer. when you throw enough negative