>> it's not clear to me that it's pure value that would work. maybe kind of quality and defensible stuff and maybe other elements as opposed to just pure -- >> you make a good point, too. irrespective of what the numbers were, listen to the calls. does it for us "fast money's" now right now, the three-day winning streak for the major averages with the s&p and nasdaq up over 5% last thursday the dow just a shade less than that can it last? we'll debate that. plus, a stealth streaming comeback netflix jumping 24% this month, an epic rebound. one of our traders is looking at this comeback and wondering if snap can follow in netflix's footsteps. and elon musk pledging to sign on the dotted line and buy twitter by friday. how it was said of the hockey

team, do you believe in miracles tonight on the desk -- we begin with a monster night nfor earnings texas instrument, chipotle, spotify, all on the move we've got full team coverage kristina partsinevelos, julia boorstin, steve kovach, all dialing in diedra >> hey, melissa. well i would characterize this quarter as a disappointment but not a disaster the fundamentals continue to hold up better than that at meta and snap of concern though, there was further weakness in not just youtube, which was well expected, but there was search advertising business that came in lighter than expected and has been more resilient to softening this year that along with a stronger dollar hit the bottom line eps is 15% below expectations. that makes it the big earnings

miss in a decade google's cloud was a bright spot microsoft saw a miss at azure. we'll have to see what amazon says this week as to how alphabet is thinking about next year in a recession, i just spoke to the cfo who said their capital allocation plans are on track while the macro climate remains challenging. the calls kicked off we'll be listening carefully and bring you anything that comes out of that. >> keep us posted. let's trade this one value trade is regarded on the desk a value trade or is it, dan? >> it is a value and when you start thinking about pe to growth, especially in a period we're in right now, we haven't had this confirmed recession they're trying to give some kind of outlook and they know it's going to be difficult. things are going to get worse right now before they get better that's just the fact of it here. so i think a lot of us were ex expecting to see this sort of miss in the q2 results in late

july so we didn't see that i don't think you have to jump in and buy any of these things i think we're going to be talking about apple and amazon's quarter. no matter what these guys guide to right now, i think you have to be a little bit skeptical anyway because the visibility is really poor so the question is though value trap or do you start lighting into a position if you missed it i think you do somewhere between, i don't know, you tell me 90 bucks or something like that. 85 bucks or so >> that makes sense, but let's rook look at the quarter. 1.40 last year operating margins. this sounds like a nitpick it's not 25%. close to 28% not good then you know all the other metrics. cloud, not good. youtube, not particularly good you can make a compelling case on valuation

could have said that $25 ago what does it mean? as much i thought google was best suited to weather this storm, clearly they're falling victim and quickly i don't know what they're doing over there, but they added like 11,000, 12,000 new employees, up to about 187,000 new employees in an environment where everybody seems to be going the other way. so at a certain point, you have to see people getting laid off there as unfortunate as that is. 90, 94 is the right level in between oand given what we hear from microsoft, it feels like we might actually get there >> the question for a lot of investors particularly having seen the earnings for the third quarter is what do you pay for this slowing revenue growth and does that number change given the context of the markets where these might be seen as more defensive. so you are willing to pay a higher market, higher than market multiple perhaps for slowing revenue growth just because this is more defensive >> you talk about value trap i'm going to keep the word

value. this is really a relative value performance trap seemingly. because the notion going in was that this search was going to outperform display in terms of ad revenue guy already took you through the youtube numbers. you want to see growth in cloud. they've made cuts around some of their other growth engines related to gaming and in-house incubation they've really pulled a lot of lev leverage trying to bring down costs. i'm surprised this thing isn't trading lower. i think the perception was that alphabet out of the other megacaps was where you could, you still did have that margin of safety. let's take apple out of this conversation because i'm going to argue that's hard work ad play or tech play. but i don't think there's much good to find here. and i do think that you are probably going to start having a bit of a waiting on the positive side, nothing

but negative from here, it only trades about 19.5, 20 times forward earnings i think maybe people had seen some of this coming to guy and dan's point, but i don't think that the margin of safety that was perceived to be here is here in the earnings space. >> julia, it's interesting to see meta is trayding lower on th ad revenue coming out from this company. >> you think about the ad spend company and your stalwarts are your facebook and google so seeing the softness and seeing it so broadly across the business, it's corning this one was really, even by mme that just has a level of durability the it. particularly just the market share and search is just, no one has this kind of market share. so my concern going forward is that probably have only started to see all of these advertisers

deciding to pull back on their ad spend i think they still stay with a major players and pull back on snapchat et cetera, but it's not positive looking forward from here >> let's get more with gene munster. do you think investors will rethink how quote unquote safe google is given what it said about advertising in particular? >> i think they will for the next three, six months maybe even nine month, but ij i think that the answer's probably going to graf convitate to lessn history. everything's accurate in terms of the headwinds 4% year-over-year. a year ago in september 2021, it grew at 44%. so talking about a deacceleration that's all bad.

will investors get over this they will. there's nothing in this that makes me think the business won't rebound. now go back 13 years to 2009 when they reported their september quarter. i was an analyst at the time i was on that call i think i asked a question on that call, but eric schmidt and ceo led off saying they had a strong quarter and grew revenue by 7% despite a difficult economic environment in the subsequent year in 2010, they grew revenue at 26% and the average growth over the next five years was 25% i think the takeaway is that google's business is impacted by the macro, but we cannot separate our lives from their products and advertisers understand that. ultimately, investors will recognize that and shares will respond appropriately. >> it's interesting. i don't know if it's a big deal,

but margins are a big cldeal and those are declining. that math to me doesn't sort of add up something's got to give there. am i looking at this correctly >> only piece i would mention is that september typically is a strong quarter for head count. they hire a lot of people out of college. they get the summer off. they come in to work in september so there is a little bit of seasonality in those numbers. but i think that the broader trajectory around head count is a flattening it's still going to grow but the pace of head count will decline and i suspect we're going to hear a lot on the earnings call about costs. about some of the things that the company's been talking about more recently about tightening head count and improving margins. getting more productivity. i think they've talked about getting 20% more investors will like that because it should have a positive impact on margin. >> the call is about nine

minutes in i'm curious what you think, how you think they're going to approach guidance. that seems to be you know, that will be very important in terms of how they speak about what they're seeing the trends through the quarter in terms of ad spend, et cetera, how do you think they treat that? >> i think they're going to draw a line between brand advertising, which is what we heard from snap last week and what we're going to hear from meta tomorrow, which is negative around brand advertising and performance. direct response. i think they're going to talk about an increased softening around that and probably not as much visibility. so i suspect that you know, that the substance of this of their commentary is probably going to be neutral to slightly negative but i don't think, i mean, their business is being impact by the macro. we saw tonight the macro's not turning on a dime in the next two and a half months an so i suspect we're going to pick up commentary.

again, i don't think that changes anything about where this business is going to be long-term. i think a year from now, we're going to be talking about 20% growth back in search. >> all right, gene, thank you. >> thank you >> and actually the company just addressed your head count issue, guy. q4 additions will be significantly lower than q3. >> so the ceo at the conference, the first or second week of september, he was the one who made that comment about becoming 20% more productive and a lot of analysts and onlookers were trying to figure out what that means. so again, when you see the sort of quarter they had, misses on these core business segments, when we get this guidance, i suspect it's not going to be great. let's think about this ou investors think about this if you said we're expecting 12% earnings and sales growth and it's trailing 18 times, that seems reasonable to it and its peers. why not the current quarter?

they at least have that visibility right now let it flush a little bit. if you get to guy's point, that $90 or 85, you're basically filling in you're round tripping back to late 2020 or so. and then you set up for a stock that we know is going to be a market leader in all those different areas they have then they can start beating again as we get into 2023 when the likelihood when we have that recession. >> the question going into this, why don't all these companies just take the opportunity and throw the kitchen sink out there and say these are going to be the impacts. for alphabet, it was 6%. they knew that maybe not 6% specifically, but they knew there was going to be an impact and is a negative to neutral, neutral to negative guidance on the call or neutral to negative commentary on the call, will that be good enough, julie in it sounded like you're having a crisis of confidence in your alphabet holdings is that going to be good enough or do you say i know things are going to get worse in the near term and i rethink my position

>> well, i think everything depends on your hold period. i'm slow moving turtle my average hold period is five years so for me looking at a business like google with a franchise like that, it's fine i don't see anything that's fundamentally impairing that business my concern is google is regulatory that's longer term what i see as being a bigger issue but you know, i think on the head count and the need to cut costs, i think we're going to hear that. we already heard that last quarter, but we're going to hear it a lot more from some of these tech businesses. that's it. no more ping-pong tables no more kombucha stations. it's done. we need to make people come into the office and do their jobs these businesses are fundamentally very profitable. >> without kombucha, i don't know who's going to go into the office >> it's something you put in a

bowl >> we're going to move on. we got bigger fish to fry. >> chipotle bowl with kombucha >> beating on the top and bottom lines with cloud revenue coming in foggy steve is here with a look at the results. >> yeah, so let's talk about what's going on with azure it's one of the culprits cloud growth coming in light at 35% or as microsoft likes to put it, 42% on a constant currency basis. street looking for 36.4% growth there. now the story microsoft has been telling, mel, they see a long runway ahead for public cloud adoption and azure growth may falter in this recessionary environment, but it's not going fall off a cliff so expecting more details on the call at 5:30, but it was likely foreign exchange headwinds the other big miss, windows oem.

the money pc makers pay microsoft. that was down 15% which was worse than amy hood predicted last earning so this is bad news for pc demand three other things though i want everyone to listen for on the call which doesn't start until 5:30 should be listening for more comments from hood they said it should ease up in the first half of 2023 curious to hear in that stays the same plus, comments on fall and it spend especially among small and median businesses and finally like i was talking about earlier, is pc demand still falling or are there any signs of recovery as we head into the holiday season all three of those things give insight not only to microsoft, guys, but the macro environment as well. >> all right steve, keep us posted. your take on this. >> you know, so the it's one thing to keep in mind but i really think the cloud was,

that's the engine of growth behind microsoft that's why you're paying 25 times forward earnings for this company that's been around forever. it's a cash cow. we can wax about the balance sheet and everything they're able to do and ability to return shareholder value, but ultimately, you're paying for growth so if you don't want this thing to trade at a multiple of what alphabet trades at, you're going to need to see growth there and resilience in the snb segment. that's where you're likely to see economic shocks. >> we're 15 minutes away from the call so who knows, but the stock feels like up it to go higher really holding in there down 2% right now. >> it's the same, you go back last quarter it's almost a mirror image of last quarter in terms of the conversation we were having. the stock closed that day at 255. post market was trading the levels we're at now. made comments in the conference call they were not seeing demand destruction. the stock proceeded to trade

north of 255 then the rest of the month, trading 290 something. i think it's different this time it's two quarters in a row to bonawyn's point, it becomes a concern. here at 245, it's sort of no man's land we traded 222 a couple of months ago. >> if it got down, the stock's going right back what's different versus now and three months ago is that at the time because sentiment was poor, there was this expectation the fed might pivot. step down now. we also learned a will the here. to me, if we have two guide downs today, we're going to know during this show and say expectations are going to be lower for thursday when we have apple and amazon, but if that

doesn't deliver, i don't think we're going to have the broader market rally in july and into august because again, i just don't see the incentive of bidding this margaret up into year end when we know a lot of these companies are dealing with a lot of headwinds here >> we've had three days of rally right now, julie so how are you feeling about, we don't know what the companies will guide at this point, but how are you feeling about continued gains at this point? >> i think a lot of it comes back to you know, what the sell side estimates are versus the buy side if i think about the second quarter, it seemed like sell side estimates didn't move buy side had gone down quite a bit and when companies did okay, that really supported the rally and this concept of the pivot really took hold and now i think we're in a situation where you know, we had been hoping for better results and they're not so good and it's not in line with estimates which are the ones making the trades here. and i think that actually creates more vulnerability

so even if we get a step down or step over or step along, i don't know, i don't know what happens on this side, but the critical thing to understand is that where are expectations relative to the market. that's really what's driving things >> so julie just makes a great point. but on the sell side, you look at a company like microsoft. there are still 52 analysts who rate the stock a buy only six holds and no sells. if you do have a kitchen sink like you just mentioned, a lot of those analysts with the buy ratings are going to have to change >> they have to now. >> that doesn't mean these stocks crash because of that no one really cares one way or another, but it means you're having a shift in sentiment and sometimes it takes a little bit to work off those excesses in a really small group of names. >> elementary school in the late '60s >> got to be quick >> how quick can i be? we had to take square dancing

and i learned the term, doesy doe. >> it's what it is on the west coast. doe sigh doe we're going to have a lot more on microsoft later this hour, but first, there's more on tap spotify, texas instruments, both dropping on the results. details on the quarters, next. plus a couple of stock comebacks that caught our trader's eyes today. we'll name names when fast money returns.

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welcome back we are back with a double dose of earnings alert starting with texas instruments. the company reporting strong results but sharing sinks. >> well, texas instruments is considered more resilient than other semiconductor names and given to its great exposure to industrials as well as auto. but today's earnings report shows the weakness is starting to spread. i was literally just on the earnings call, ended about five minutes ago and said quote, weakness is broadening to include industrials. they also said cancellations increased in q3 as customers worked through their backlogs. higher labor costs also hitting

margins. the auto market is taking longer than industrials to correct. possibly the only vertical not to fall next quarter and analysts why that was so and management said electric vehicles entertainment and some driving systems are helping. q4 came in light and shares dropped on the news, but there's quite a run up we're almost back to where we started $153 and stocks semiconductor those are down only 18 >> thank you when we say weak guidance which she mentioned, with as much as 40 cents below, you know, what analysts >> guidance, so analysts were ex expecting $2.23. they guided a buck 83 to 211

i could drive a truck through that may as well not give guidance. to your point, you're talking about a significant guide down i'm shocked that the stock isn't down more than it currently is because going into this, it traded at a premium valuation. it is a very expensive stock i would submit, mel, it's more expensive now as low as it is 45 minutes or so ago. you like what i did there? that's math. probably a different show. >> let's get to spotify here we're also watching shares sink there. the company reporting bigger than expected loss in q3 revenues coming in above estimates. you had a chance to catch up with the ceo and cfo >> i did i spoke to an daniel eck and the cfo. what's interesting is even though the stock is down over 5%, they added 23 million

monthly active users six million more than than projected. they told me that while they saw some weakness in advertising, the fact that ads are about 13% of their business, they see that as an advantage and on the earnings call just now, the ceo said when it comes to the company's premium subscription service, they would like to do a price increase he told me, quote, we've done more than 46 price increases and many of those have had way more inflation and economic issues than the u.s. is currently experiencing despite all of that, our subs numbers held up way better than expected, saying we think we have pricing power now, in our conversation, eck took a swing at apple saying apple had unfairly rejected spotify's app saying they're fighting that and particularly apple in the uk.

we see those shares down just under 5%. >> thank you what do you make of this >> we spend a lot of time talking about netflix. when you look at spotify, it's a company that's not as profitable and both have had issues netflix has just raised their subscribers and they're really trying to focus on that. 40% gross margin at netflix. 25% here i think those active users going up the way they have, that's great for them that 13% is only going higher here so again, this company probably does have pricing power if they are able to raise that it probably drops down to that margin probably a good buy at some point. i got to tell you, where is the stock in the aftermarket >> coming up, microsoft's call set to kick off in just a few minutes. a top analyst will join us plus, stocks staging a nice rally but there were two names in particular that caught our

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visit findyourindependentadvisor.com welcome back the tech heavy nasdaq leading the charge climbing more than 2% two names catching our traders attention. netflix inching toward the $300 mark shares of snap jumping more than 15%. that stock hasn't quite recouped its losses after last week's report, but it's getting close, dan hopes. >> we were talking about this on our call so i was long into this. down 30% on friday

wasn't great that was my final trade on thursday afternoon i got my arverage down to eight bucks here now we have this move up to nine and a half. to me, that's how you have to trade a name like this as maybe an analog, if you look at the way netflix have had massive gaps over the year, there's a lot of things going don. macro headwinds. seems like they're coming out of it guy had a call that netflix would fill in the last big gap to 300 bucks well i think that snap, it's kind of like who's left to sell here i guess is the point. we know they have a restructuring, so to me, that's the kind of play i did take some profits on some of that stock i bought at 7.50 at 9.50 today, but i expect it's going to fill in the gap to about ten and a half bucks >> we use the word trade a lot how do you think of that is that time, percent gain >> for me in the situation, i am long and have a long time time

horizon on a portion of this position, but because we had such a massive move, i bought more and had an outsized position so to me because i had such a massive gain, that's why i traded a portion of it >> nice trade, dan i will say those two aside, this really felt like a race day. not an earnings day and that is like extremely odd being we're in the middle of earnings season and the whole argument for why we should move up, okay, yes, expectations have been lower, but stocks aren't performing and earnings aren't as bad and the apocalypse isn't coming, et cetera you see the rate down, fed fund futures up none of this to me and going back to the two names you said, snap snap leads the market higher how about home builders? did you not see the report out of home ownership, prices, mortgage applications? there is nothing fundamentally strong about this market aside from the fact you saw a reversal in rates and i think that's why

you see names like snap that are like the most spected of the pockets now, great trade aside, it's why you're seeing that leadership i don't think this is about earnings at all and for those people leaning into this thinking that us beating much lowered expectations, i would strongly caution you to look around and see what's going on doe see doe, two step or whatever >> in an information vacuum like we've had the past three days when we did not have the luxury of knowing what the earnings would be for big cap technology, a decline was enough fuel nor that rally, but now, julie, how have things changed or is it all about rates? >> emostly people are concerned about guidance as we get further on into how is the consumer doing, these tech earnings are important in terms of understanding business confidence, but i think consumer

confidence is now the bigger issue as holiday is lumooming i agree with bonawyn i don't understand any of these fundamental drivers or why we're so enthusiastic about inflation being softer when it's mostly in housing that's slow to become unstuck. >> m coming up, more on microsoft's quarter. a top analyst will join us next to break down the headlines and chipotle charging higher what do we call that >> a burrito blowout >> we've got the details when "fast money" returns

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giving up early gains. the company the latest to show its ability to raise prices for customers. pippa has more from the report >> hey, melissa. chipotle raised prices by 4% in august which was the third price hike over the last 15 months the ceo saying just now on the call the company has seen minimal resistance to price increases this quarter, although

transactions did fall 1% during the period he warned that consumer discretionary spending is tightening and he said there's a widening of trends by income level. lower income consumers have further reduced frequency with higher income households increasing he added the majority of their customers are in that high er er category. >> thank you that's an interesting little nugget the higher income people, sounds like a trade down is happening maybe they're not going to whatever restaurant and they're going to chipotle. >> not going to the place. i love cmg i don't care what income here's what i'm concerned with digital sales continue to fall 13% increase since august of last year. you wonder how long that will

continue before people say no mas. there's a lot to like here, a lot not to like given the valuation. i'm going to give them a pass and say they'll still be able to pass on costs the same way coke and pepsi have been able to do, but now we're sort of on the razor's edge on does valuation matter or are people going to look past it >> julie >> when you start to be at these higher end valuations, it starts to be critical to have execution. it's kcritical to have pricing power, which they do t if you're losing a part of your customer base, it means your earnings power has been reduced. i worry a little bit longer term how they're going to manage through a downturn will people trade down from their three martini lunch to chipotle i hope so for them but it's really important to bear in mind, the health of their consumer is critical

>> it hasn't even made a dent in the gains it's made in the this past three-day rally quote unquote pullback maybe that speaks to the kind of stock you want to be in in this environment when it comes to the ones that have pricing power the quote unquote staples. has chipotle become sort of a staple >> listen, again, it's one thing to be a coke or a pepsi or proctor and be able to pass the costs through. when you think about a chipotle, you think about the demographics i go back to the beautiful shrill kwoi bonawyn had in that last block investors told us something. remember when walmart told us they're seeing a new customer? earnings season is amazing to me, somebody who thinks about the here and now, but also about longer term. if you put together a mosaic u this is not a good data point as far as the u.s. consumer two-thirds of our gdp is the u.s. consumer so to me, this is

kind of the tip of the iceberg >> alphabet is down by 6.8% now. let's get back to gene what did you hear? >> i heard ruth talk about difficult comps and difficult fx it's going to weigh in her words on december revenue growth you're probably going to see the street lower revenue she also talks about slowing head count to guy's point, they had a 51,000 people last year. that's going to slow down but when you put those two comments together about just fx impact and the difficult comps along with kind of some of the commentary about head count, the substance of what ruth said on the commentary was pretty light and i think that's spooking investors. some of the follow up questions from investors, they continue to kind of stay away from the macro commentary and so i think they're seeing a slowdown in

their business i don't think it changes the trajectory of it long-term but that's where the conference call stands. >> thanks for the update down almost 7% in the aftermarket. that's to the point that i was trying to ask gene about in terms of how they handle guidance meaning commentary about the future, the trends they're seeing now and the fact they're sort of still an information vacuum in some way that he was talking about. not really giving a robust picture. that's scary, but what we all do not see right now. >> companies are starting to do it going forward, we're not going to give forward guidance this is not an environment to be giving guidance if you have zero visibility, which a lot of these companies don't. you see how quickly things turn within a couple of weeks in this world. >> yeah. >> they're weeks into the fourth quarter. they have plenty of visibility so to me, i actually think they should be able to guide for this

quarter and guide confidently you know what i mean, so guy just talked about guidance that was given. maybe drive a truck through it fine give wide guidance then let analysts move the midpoint of the prior guidance to me, it's not great. >> when peers are removing guidance, it gives you the wiggle room to remove guidance and being that your charge is to maximize shareholder value, we talked about why they don't just kitchen sink quarters when you have the opportunity that's why you don't want a stock to just fall off a cliff if the person you're competing against the removing guidance or giving an opaque guidance, it kind of empowers you to do is same thing no reason for you to paint yourself in a corner a la walmart. they give guidance then look what happened. the fx effect is going to be 6 to 7% and it's been 8, 9, 10%. i think it's really about comparing you're to the norm and what your peers are doing. >> coming up, microsoft earnings

call we're talking to a top analyst to get you the details plus, we're edging closer to the itr.line for elon musk to buy wi ll it actually happen? what the options margaret is saying about the deal. back in two. upwork. i would have hired actually talented people from all over the world. instead of talentless people from all over my house.

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microsoft out with earnings after the bell shares near afterhours for more, let's bring in brent phil brent, the slowdown in azure and cloud. how do you think about the valuation how microsoft is valued valued given that slowdown in the growth engine? >> it was the first time that i can recall she's missed her guidance on azure. the commercial bookings was way below. so i ultimately feel that it wasn't a wideness, but the problem you have with google, ti, the rest of tech missed tonight, so i think we have a general overall continued weight across the tech group. we've been saying this repeatedly we think there's tactical concern across the whole group

as we're seeing demand soften. you're seeing it across the board so this is general macro this isn't competitive and ultimately, i think microsoft is valued on earnings this is still a $10 earnings story and what do you want to pay now. at ten to 11, maybe $12 of earnings in the next year, you start to look at you have to put a mid 20 multiple to get upside. we think that's still reasonable to get there on the valuation of stock. i want to be very clear. tactically short-term, that we think there's an ongoing technology storm that has moved in and right now, most of our clients are sitting on the sidelines waiting for the storm to clear underneath the bus stop with the hail coming in and they want to come back out. but it's going to be another quarter or two before these companies clear the deck on the real numbers and we still don't know what '23 looks like

our economists are saying we're going into a recession in '23. so we still have an ongoing reset. i think again, most tech investors are waiting to see what the numbers look like for '23 rather than this quarter or next the storm seems to be getting st stronger we recognize these stocks have been hit hard, but we're also cognizant of hey, these stocks probably won't find support until we get a full fundamental bottom on what we're seeing across the group >> thanks for joining us you spoke about your economist forecast for recession next year would you mind shedding more light on to how that might affect the small, medium sized business impact of microsoft's offering >> it's a good question. so last quarter, they called s&p weakness for the first time in as long as i can remember. and we start to see small business weakness you wonder is it going to filter to large

enterprise i think that's now what's concerning to investors is at some point, are we seeing the s&p weakness microsoft called out filter in. and we still don't know. we haven't had the q&a with microsoft yet, but i think that's the concern and i think that's kind of where everyone is expecting this to go that it's going to start to filter in. into the larger enterprise so small business, no question, feels it first they are starting to feel it there's various degrees. who we cover has not seen any weakness yet and microsoft called out last quarter, they are starting to see weakness

so much of the economy is is driven by the smb. we talk about it like it's this divorced group away from us. we're all consumers. so consumers confidence being weak, it broadens out and that starts in the smb. so i think you see early cracks happening and i think broadly, people were really painting up the multiple because it's high recurring revenue. and i think any kind of weakness there really cualls into questin that multiple. >> microsoft after hours session lows, we'll keep tracking this coming up, will elon musk's twitter deal go through? "fast money' bk t s"acinwo the new iphone 14 pro is amazing. the camera is incredible. and you'll get our best deal. nice, but i can't accept it. unless every business gets the best deal. on every iphone. uh, actually... we already do that. the plumber with the ascot! big bjorn, little bjorn, too! the caterer who really cares. every business should get the deal!

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earnings alert let's get to kate rooney >> visa's ceo saying on the call just now that there is clearly a high risk of a global recession. they don't have a certain point of view on it and if and when as well as what kind of global recession, they are presuming stable conditions though and say they're prepared to act fast if

circumstances change so they say here it's not necessarily factoring into visa's guidance, but that's what they're expecting for the macro backdrop they talk about staying nimble and being able to control controllable expenses. some of the operating expenses things like travel, marketing. on revenue, we did get some guidance they're expecting net revenue growth in the high single digit range and that's on par with what we saw in the fiscal fourth quarter. the stock jumping a bit after that revenue guidance. >> thanks. let's get to twitter here. shares posting their highest close since elon musk first offered to buy the company and as the deadline approaches, optimism is rising that it could get done david "ffaber this afternoon saying he could receive papers from his lawyers mike >> above average call volume in twitter. the activity we're seeing are

bets the deal is going to close possibly as soon as the end of this week. for anybody's who's looking, please don't pay any more than 20 cents because they settle to clash once the deal is consummated. >> thank you tune into the full show friday, n30 p.m. eastern time upext, final trades.

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welcome back to "fast money. let's get another check on shares of microsoft. down by 4.8% as far as we know, they have not yet given guidance but in just a past 15 minutes or so, the stock dropped by about 1.3%. we're looking to open lower here on the nasdaq. the qs are down by 1.7%. obviously from all the blowback from these earnings reports. final trade, julie >> i like west pharmaceuticals gives you exposure to healthcare, but a nice, small mid cap name >> bonawyn >> don't believe the hype in the home builders. be fading. >> dan

>> twitter i still think there's a chance i still think there's a chance it doesn't close on friday so downside puts. >> guy >> defense stocks are defensive. northrop grumond thi high my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market some 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 money. my job is not just to entertain but educate you and put it in context because teach thing day is hard. call me at 1800-743-cnbc or tweet me @jimcramer.