gdp, that is not something that companies can necessarily navigate around. yeah, i think 2023 numbers will come down. the problem is estimates come down almost every single year in the history of the market. it is not as if it is a new thing to have analysts have to revise lower i just don't any how severe that will be. the breath of the earnings declines have been heavy. >> all right i'll see you tomorrow. "fast money" is now. right now on "fast," amazon zetting crushed. a miss on sales and inflation and the dollar taking a toll the conference call just minutes away but apple is hold field goal there. beating on the top and bottom lines coming up a bit light on iphone sales and services. could investors breathe a sigh of relief. and a meta miss calculation. now a shadow of its former self. it is more smaller than home depot. and later maybe you could swallow your social tears with a

gold bud, a quarter pounder and then get on your tractor and ride off into the sunset i'm melissa lee and this is "fast money" and we're live at the nasdaq market site on the desk tonight -- we start off with floerj big night of the earnings our team reporter standing by with the latest. julia boorstin focused on pintestest but we start off with diedra bosa the stock has dropped out of the trillion dollars club in the after hours. what is the latest. >> all focus is on the q4 light guide there terms of the revenue. after the all important holiday season they saw moderating sales growth across, quote many of our businesses in q3 and he expected that impact to continue in the fourth quarter now that was certainly felt in cloud computing, aws growth dropping to 28% year-over-year that is the first time it has dipped below 30% plus growth in

at least six quarters. that is what i counted the cfo said that aws customers are working to cut their bills as they feel those macro pressures. the ad side fell the slowdown and the consumer at large, said that the u.s. consumer is holding up better relative to those in europe. and in terms of cost, he said there was a solid improvement in productivity but there is still a lot they have to do to drive the cost efficience so expect to see further improvements in the quarter ahead including moderating hiring but amazon has been on this drive for efficiency this year and it appears that is not enough or they have not been as successful in doing it which is felt in the operating income guide that starts at zero and ends at $4 billion back to you. >> guy, what a dramatic drop i mean, how many big tech companies will drop this much in just minutes >> i know one. >> unfortunately it is more

common these days. >> so, now, amazon is in the cut in half club since the start which is remarkable. the quarter not great. operating margins 2%, a year ago 4.4% not great. but we understand the environment. the guide was a disaster operating income between zero, that means nothing, thank you, guy, and $4 billion with the street coming around 505 that shows zero clarity. so you have zero confidence that margins will get any better and at this price it is the same price -- it hasn't moved in five years effectively which is remarkable when you think about that company and how important it is. >> but when i say disaster, as it relates to guidance after a quarter like that after under-performance in the stock over the period over the last year, you have to say to yourself, there has got to be a silver lining as it relates to the company. i don't think people will wholesale move away from this story here i think there was a lot of

people who thought that low near 104 a couple of months ago might have been it and if you take the chart back to guy's point, you know, you got to have a level down at $80. that is the pandemic low or so and so when you have really bad guidance, you have sentiment that was bad and hate selling. you kind of probably if you want to own this for years, you could start dollar cost averaging around $90 and it probably doesn't get much lower than $80 this year. >> it comes back to aws. and we've given away the rest of the company. when there is a 28 handle and people are expecting 31. and it is not like meta but i'll say this we had eight or nine years of facebook growing ad growth 40% and many years of aws growing well above 30% you start to see the numbers and people start to requestion everything even though i don't think you should do that with aws. you could have bought this back in august of 2018 at these

numbers. and it is a much healthier company and i think they have more control over profitability. but after two unprofitable quarters to tell you that next quarter we're around that same place, it is not going to look good. >> but it is not just the drop or the size, but the idea ma microsoft already forecasted for azure, so we have the glimmer of cloud could be weak. we had the glimmer of advertising could be weak. and yet again we see this huge massive drawdown. >> yes on the same news. >> on the same sort of thing. >> i think there was still some hope that aws would be okay. we talked about is the rest of the business worth zero and then aws is all of the value. and so you really want that thing to that is doing all of the value and has way higher margins to beat. and so a little bit of a miss. that is really not great it is interesting, so it is down again on the same news i don't know what turn it around

right now. by i don't put that much into their guidance they've never been great at guidance and i think why notes about as -- i think nobody should be in the guidance business it happened half way through the quarter. so it is not the guidance, i don't think. i know that is what the stock is reacting to. but to me it is aws. >> but this is a series of disappointed and under-performance relative to the big cap peer at what point do you say it is time to end my connection to this stock as you poin out, you could have owned it at 2018 at the same levels as now. it is underperforming relative to the pandemic. it is disappointing on a relative basis so why here. and why hold on? >> well, because that is a great question i mean we should have been talking about that a few weeks ago, clearly but why at this price to hang on because i think to dan's point, now you're pricing in anything t that could possibly go down from

185 down to 92 and if you think the world is somehow getting better and inflation is calming down and it should play in amazon margins karen is right don't put a lot of stock into guidance maybe i put more in it than i should maybe they shouldn't give guidance at all. but they're forecasting a lousy quarter again. so they're being punished with that and the same thing with facebook we said it last night, now is when you're getting in and not getting out. >> but for facebook for some people, their questioning. so maybe now is the time to be in amazon but yesterday you said no, you felt worse about the facebook story than prior to the earnings so there is a difference in how they should be perceived and what they're pricing in despite the drawdowns that we've seen. >> but what is not pricing it in is the street. we saw the street price down facebook and meta from 25 to 50. morgan stanley cut them in half. and we're not picking on the sell side. they have a difficult job. dan brought this up though,

there is too many buys out there and too many people that have passively said this is conservative and this is growth at a reasonable price. and amazon's case relative to itself, it is cheap but not if they're not profitable. >> the conference call starts in about 23 minutes from now. we'll keep track of that let's turn to apple. that conference call is under way right now. steve kovak has the details. steve? >> reporter: hey, there. just kicking off and i want to break down despite the beats on the top and bottom line, i wan to talk about the segments in apple and the pockets of weakness and explain what is going on here. so iphone revenues, they were up 10%. but tim cook telling me, look, demand is really through the roof for these iphone 14 pro line they can't keep them in stock. now this only represents about eight days of iphone sales but you could see where the trend is going there. on mac revenues, thanks to the two new models, up 25%

an that is also a signal that the supply chain in china has eased up and made it easier to produce those. last quarter tim cook told me they couldn't even test the demand on macs and now they're up 25% ipad was down 13% because the year ago quarter they did not have a new ipad model. they were launched a couple of days ago last week so it is a little bit of a different comp there and then services. that was a miss, a disappointment for a lot of people talking about that right now. only up 5% and the story there, mel, all foreign ex change. but despite all of the weaknesses and the headwinds, they were able to beat on the top and bottom lines because of kur cutting costs and i asked tim cook and here is what you told me he said, quote, we are hiring deliberately and so we've slowed the pace of hiring and we're going after cuts and our savings into kmod commoditin

he means that mem or chips are cheaper so prices are going down for those components, mel. >> just want to clarify. in terms of the services miss, you said it is entirely due to fx >> not entirely, but largely and also a weak ad market. they told me that the same head winds that we've heard from google and meta about a weakening ad market, that is part of it and gaming is a lot weaker too, they said. >> steve, thank you. keep us posted on what goes on in the conference call here. apple in the after-hours session. i mean, this is basically a win. compared to -- >> we don't know the guidance. so that is coming. okay and it can't be great. let's be frank you think about the headwinds. so that is going to come out while we're doing this show right now. just say this, for mid single-digits and the important part about the services, even if it is 5% and currency is a large part of it, it is not more than

5% so we're not talking about double-digit growth in services. so to me, i doent know why you would buy this thing and whatever they give in the guidance, i don't think they're guiding up so me it trades 21.5 times this fiscal year. >> and services is where consumers might cut back so you look for a slowdown in services first when you're talking about a slowdown in consumer spending. and here we have a little tiny bit of it, maybe enough to -- >> i don't know if the consumer would cut back on well i'm going to wait another cycle or a year to trade up on the iphone. maybe that -- >> why wouldn't you wait >> i'm saying it might be services but it might be the hardware part. the services part -- >> but it is usually the first thing. >> it is easier. it is easier to cut. you could go through your phone and what do i have that i don't -- that is true. that is true i mean, the stock has been down a lot, multiple times on similar kinds of things.

just general sentiment as well, as the market gunning for anything high multiple this is high-ish but it deserves a premium. we'll see what they say. i thought it was decent. and i like the strength in the hardware part and services not as good. but i don't know, stock is down, what, 10, 15% over the last couple of weeks. >> yeah, part of it, the top line, we knew it would be record sales and profits and those asp's are helping the story. and if you think about relative to 2019, asp's are up 12% by my account. and dan is talking about what growth you're getting and what you're getting in services we used to be getting 20 to 25, much lower base on services but 900 million subscribers. but apple's range on multiple over the last few years has been between 22 and 30 times. it is trading closer to the upper end. it is not a 30, but it is probably 26, 27. if you look at the street,

they're calling them 27 times. and apple has not guided letter or told us anything and everything else is suffering in china. and why shouldn't apple be >> i would love to here what cook would say about the u.s./china trade war. >> that would be -- >> how he views that somebody should ask him. >> someone should ask if something were to happen with taiwan what would apple's stance be that is a good question. no one is going to ask it. >> no comment. >> here is a hot take, just because why not. >> you deem it hot self-proclaimed. >> and the judge there. >> we're trying to figure out why apple isn't lower and service is 21% but dan is talking about 5% eps and revenue growth declining margins, yi agree abou tim. and it is still becoming this

flight to quality in the form of apple. which we've seen over and over again. so maybe amazon's disaster actually works to apple's benefit in the after hours just throwing it out there at me on twitter if you think i'm a jerk. >> amazon plus meta but alphabet combined. >> it is the general falling it is requestioning that big cap trade. >> and important for the big cap trade, meta was down and the spend is disappointing but the multiple into the print was below the market multiple by a lot. whereas amazon is above the market multiple by lot as earnings getting hit, that makes more sense to me >> let's bring in jean munster, managing partner from luke ventures great to get your take i don't know where you want to start. you didn't think it was as bad as the stock reaction is why? >> normally this would be down

5% or 10%. down 15% seems like an over reaction i just beg the question to the panel, the group, what ultimately is being painted as some horrible guidance, what was so horrible about the guidance >> what was horrible >> how about their best quarter you're talking about 2% to 8% growth and we still should be coming out, everyone is telling us that the consumer has never been healthier and right now that hasn't been the story so the other dynamic is on aws isn't that really where the market is punishing the stock? >> it is it grew at 27% versus 33%, 35% in previous quarters it is a deceleration but i just want to just put that in a context that we're seeing deceleration across the board this is bad and i think the biggest takeaway from amazon is the generals are being shot. and this is a mistake that i've

made we own amazon. and a mistake that i've made it thinking that there was some safety in some of the large cap tech companies and ultimately what we're seeing is, my general view is that it -- the guidance wasn't that bad but that doesn't matter. what matter is that it was a subtraction key, they hit the subtraction key and that is not what investors want to see and i'll point out one further piece. i'm still a believer in amazon no unone else could compete wit. but with the lower numbers with the stock down 15% is still a relatively expensive stock and so you really have to have a view of kind of what is one, two, three years out when you're thinking about investing in amazon i think this was the -- the guidance wasn't that bad but what was bad is just the read on how investors are thinking about large cap tech more broadly. >> so, gene, does that make you

worry about apple and the guidance and if that guidance is luke warm and it is not conservative and karen just said that you thought the amazon guidance was conservative. if apple's guidance is not conservative, does it give you more confidence that maybe they're doing better than the large cap peers. or does it actually leave the question mark open for the next quarter? >> i should think they're doing better in the month and in terms of context of apple's results. the big focus point is iphone. it was up 10%. and the street was looking for 12% growth that was a miss. it was up against a 47% comp other big companies weren't producing off that comp. and separately cook through cnbc reporting is talking about them still being supply constrained that was not a surprise to me. as of today we're still seeing three to four weeks lead times in eight countries around the promodel you would see lead times around

one week and so when i put this together and you just have to peel back below the layers and i put apples results together, it is quite remarkable that they're able to grow at 10% off of 47% comp with the iphone and it probably would have been a better number. the mac, they beat expectations by 25% it is a 10% of business. the ipad was soft. it was down i think 17%. but that is going to see a big rebound in december with the updates that they just did to ipad so when i think you put all of this together, what is the simple takeaway with apple is we're dependent on their products and ultimately it is whether things are difficult, yes, there is some softness and in services and some eng around what is going to happen with ipad but as we become more and more dependent on their products, they're going to keep powering through and i think this stock is going to surprise people over the next years one last piece, we're talking about what is going on today if we start thinking forward,

two years, three years down the road, what other things that apple is working on, whether it is something in dare i say the metaverse, mixed reality, augmented reality or something in automotive, that is another game-changer to the multiple so actually left feeling that this company is as strong as ever >> all right, gene, thank you. we'll check back with you later on this hour the stock is virtually flat in the after-hours session at this point, guy >> we're dependent on food, oxygen and to a certain point -- >> love. >> love and water. we think we're dependent upon apple and that is the genius of what they've done. they've convinced everybody that we can't live without them and i'm not looking to add gogene but that is my quick takeaway. and amazon is looking at their cost structure and in areas where we could save money. that means people will get laid off which plays right into the narrative that the fed is hoping for. but again, that is the environment that we find ourselves in so spread it out

if this economy is as great as everyone wants to say, it is not that great and thing rsz getting worse and amazon is telling you that. >> and coming up, intel and pint es pinterest is reporting we'll exaiwh ypln atou should be watching and we'll break that down when "fast money" returns

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welcome back to "fast money. another earnings alert on pinterest. shares jumping after a big beat. julia boorstin has all of the details. >> that right. pint esther shares up about 9% after the company beat across the board. showing that it is focus on discovery and then shopping for those things that you've discovered is paying off adjusted earnings of 11 cents was 5 cents better than estimated while revenue was $18 million better than analysts projections. the company user base returned to growth for the first time since the first quarter adding more monthly active users than anticipated. but unlike snap and meta, pintestest average revenue beat projections showing that ad revenue growth is beating user growth the company also guided to revenue growth in the mid single-digits for the fourth quarter.

that was higher than anticipated saying just now on the call that they are in vesting in the most valuable areas of the platform and they intent to return to margin expansion next year pinterest growth and this outlook come down to the focus on shopping. that is been the mission of the ceo bill ready since he took over in june he talked about the value -- about the fact that people are coming to pinterest to look for things to buy. that means it is an powerful platform now they're making on pinterest, all of the actionable. so now you could see and buy on pinterest. and now shares are up 10%. >> thank you and the ceo of pinterest tomorrow on "mad money" at 6:00 p.m. revenue was up 15% in the u.s. and canada up 11% globally. so there is that shopping that

aspect that was the lever that pinterest was able to pull. >> and i think if you look at how expensive it is to some peers, it is profitability and margin and a bill ready and not having the same exposure to apple and ios and tiktok is competition. so this stock has been outperforming for a whole quarter. it is just a number where you see a pop. but it is real. >> things are really good. >> it is like they live in a different world. >> they do seem to live in a different world. things must be really good because they have such a pass to say it is a cloudy environment we don't really know we're happy with our results but we'll see how things play out. they sound more positive than that so they must be feeling very confident. >> let's go to another earnings report here. intel, that call kicked off top of the hour. so we're 25 minutes in the chip maker will cut costs by $10 billion over the next three

years. kristina partsinevelos has been the call. >> we are not satisfied with the results, that is how pat gelsinger started off. despite guidance falling short of expectations, the stock is rising so what gives in the pain may have been priced in. amd is stealing market share but they warn that enterprise is starting to slow and the inventory connection is not as quickly as forecasted. more in 2025, up to 8 to $10 billion and this is at the expense of employees he said on the call, these are difficult $decisions effecting our loyal intel employees and given they have committed $100 billion to build out fabs in the united states, it announced a partnership with brookfield investing up to $30 billion in the arizona fab and they would share in future

revenue and today intel plans to add more of the co-investment deals. and lastly, intel treats fabs as contract chip makers and gelsinger saying that the new foundry business will help accelerate their transformation, mel. >> kristina, thank you. and intel ceo will be on tech check tomorrow morning so check that out interesting. they seem to be moving more toward for lack of a better term an asset light sort of model where they are off loading the costs in some way shape or form. >> that is one of the big things when gelsinger came in here. if you look at stop, the ten year low is trading at about 26 and a quarter. you could get into the evaluation and the cost cutting. risk is down 20% to that $20 level and you probably have 100% upside if you're taking a multi-year

view and again no one is going to be able to pick the bottom. but i think this sort of market, and these sort of disconnections that we're seeing in some very big stocks are giving you generational opportunities as long as they could execute better and take back market share from guys like amd who have been eating their lug for last couple of years. >> guy >> fourth quarter guide, 20 cents eps and street was looking for more that is no good. and data center is down 35% year-over-year that is not good operating margins, 10.8% they are 28.8% a year ago. you say a lot of that is in the stock. things not going that well at intel. and now you're looking at maybe five buck lower or 10 tor 15 to the upside but nothing is fixed in intel in this quarter. >> it is cheap it is 11 1/2 times this is a company that appears broken over the last four or five years so you might get that

down side but 5% dividend yield, pc has been priced into the moon so as into the floor and therefore it is there. >> we're keeping an eye on all of the after hours movers. amazon conference call kicking off in just a few minutes. and plus the chief twit appearing ready to close the deal on twitter and what he told staff about the plans for the social stock it is getting booting out of the s&p 500, to surprise we'll tell you who replaces that we're watching "fast money" live at the nasdaq site in times square back after this.

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i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones welcome back to "fast money. the dow pulling off another day of gains today even as the other indices pulled back the industrials up five days in a row. and the outperformance extends

far beyond just today. this weekk and this month and this year the dow handling the s&p thanks to strength in health care and energy and seeing best month since 2002 tim, it is funny because we say, who watches the dow. but we did -- >> we tend to poo poo the dow. and a price weighted index is ludicrous to me. and we know that health care and energy have been a big part. do the ratio dive sided by the spy and nasdaq divided by s&p and nasdaq continues to make lower lows in fact it is underperformed at 13% this year and by 8% and the news this week from the generals, or whatever, this is where -- remember we said value over growth. it is taken some time to play out but it is no question what we're seeing and if you look at one of the days carter will probably draft this again because he does all of time,

we're getting near support levels on the nasdaq to the s&p. >> we want to get straight back to apple the stock is down 1.7% gene, munster, what are you hearing? >> i'm hearing that they're talking about a deceleration in retch growth from september to december those words do not sit well with investors. as i look at my model here, that is what the street is looking for. previously street -- or they just reported about 6.5% revenue growth in september. a deceleration the street is at 4% as it stands right now. he did not say it would go negative so i think when you piece that together it was guiding in line. but don't like the word deceleration also don't like to hear significant deceleration related to the macbusiness they probably pulled forward some demand relative to that but the substance is they maintain guidance but use language around it

importantly, the earnings piece, the profitable, the margin, they basically guided to exactly what it was a year ago. it is probably going to be about 43.5%. exactly what it was in december. just rock solid. but again in this environment, when you start using words like deceleration, i suspect there is going to -- we're just one question into the call there will be more questions what he meant by deceleration and i think the numbers will probably be unchanged tomorrow morn. >> so deceleration of revenue from november to december. a substantial decline in mac revenues, is that right? >> that is correct the overall revenue from september quarter to december, deceleration, that is what the street is looking for going into this and the mac down significantly, 10% of the business and even with that down significantly, they did highlight a 10% fx head wind but i don't want to give companies credit for it when it is go or beat up when it is bad

so i'll leave that out of the conversation >> all right gene, keep us posted thank you. >> thank you so all important holiday quarter. and we're going to see a deceleration in revenue. how do you wrap your head around that, karen? >> i'm not sure if revenue is a post fx revenue or a pre if it is pre -- >> intentionally vague. >> that is not good. >> 10% sounds like a lot compared to what we've heard from multi-nationals so intentionally vague. >> they'll have to fess up i don't think they're hiding it. i just don't know the answer i don't know -- >> again, we're one question into the call so i'm sure there is a lot more details. but right now, it is not -- it is not positive what we're hearing. >> no. and i -- i would underweight the impact of fx maybe i'm wrong. but for a company not paying a high dividend or better than most tech, that fx head wind i

think is a tail wind i want to hear about real weakness an that is the start of it. >> where is the weakness are they going to see mac or foep weakness. what does the slowdown attributed to? >> 20 minutes ago they were talking about not having enough supply and demand was off the charts so look, apple is a great companych these are staggering numbers. they put up every single quarter. what we try to poin out is they're getting rewarded for it in the form of their valuation and you have wonder, they're not impervious of what is going on in the rest of the country it is not an indictment. it is just a reality now one 130 was the recent low that seems reasonable to me. i think the fact that it is holding up here is a good sign but then i would submit you really want apple to create because that is probably last leg of this thing. >> that is the re-set. >> that is the re-set, exactly right. >> we'll keep track of apple

meantime, meta mega mult doen. the stock losing a quarter of the value in one day as mark zuckerberg sticks to his guns full speed ahead on the metaverse. if there is no pivot, do the stock become a no touch. we'll ask our traders if they're throwing in the towel. from the virtual world to the real world tractors and fighter planes and the savory mcrib the movers and traders in to today's action we'll break it all down and maybe wash it down when "fast money" returns of risk and reward.ght be so you can enjoy more of...this. this is the planning effect. as an independent financial advisor, so you can enjoy more of...this. i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent

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welcome back to "fast money. meta just melting down today losing a quarter of its value. the company has now last $800 billion in market cap in just over a year that is more than the value of tesla. that drop in part because mark zuckerberg is sticking to his guns he changed the name of the company to meta as he pivoted to the nonexistent metaverse. and despite the spend on metaverse even though the return on that spend hasn't been paying off so far listen to what our own jim cramer had to say about facebook this morning. >> i made a mistake here i was wrong. i trusted this management team that was ill-advised

hubert here is extraordinary and apologize. >> first of all, kudos to jim for just coming clean on that. just saying, that he thinks he got it wrong and i think it takes a lot to sort of admit that on national television to everybody out there. we played this clip mainly because this really sort of encapsulates what a lot of investors are feeling right now and that is a crisis of confidence you could trust the management team and trust the vision of mark zuckerberg? and if you don't, what are the resource because mark zuckerberg is ceo for life. >> he controlled it with the voting shares, too. >> exactly. >> well i'm long so clearly i've been wrong and been wrong for quite sometime. however, i don't think that mark has said i'm going to cut expenses you watch. i will and then he didn't so i don't feel like he lied to us the question though is, is he pursuing the right path.

that is the more important question i think if you look at when they announced this, this was in november of last year. when money was free, right which it is no longer free when the business model of we're going to go after growth and we're going to just lose money for years until we get there, that was acceptable then that is no longer acceptable now, he doesn't need to change anything as we said entirely up to him. i don't know at first i said a year ago, give him the benefit of the doubt, he's made a lot of changes over time that have worked out but this is so costly. >> so the question is if he comes out and said i'm killing off the meta curse -- or the metaverse, what would happen to the stock and i think what karen is saying is that the expenditures that attached to this that are things that investors have to believe in that is an amazon model of a decade ago that we were rewarded for. so i guess why they think they

could do it. this is a $100 stock and it had one billion dau o's but i think they need to get back to what they do. >> and do something with the dau's. >> pinterest has figured it out. >> right >> pinterest has clearly figured it out we talked about that again, but there are ways to figure this environment out. kudos to pinterest huberous, the word jim used, spot on. they've burned through $800 billion of market cap in a year that is a staggering -- it is even -- >> and how much did they spend on the metaverse >> nowhere -- >> hold on hold on. >> okay. >> so the stock went from $225 to $375 having really nothing to do other than the company executing in a difficult environment during the pandemic, right. that is on investors now investors had the choice to vote with their shares and that is what avthey've been

doing since the pivot. and the voting, i mean, he has a fiduciary responsibility he changes his course right now, that would be disastrous so they have 2 billion daily active users and 3 billion monthly active users and they have whatsapp and they have the blue page going away i bought the stock on the opening today. >> you did >> yeah. >> because -- >> i think you're right. except do you want to see them spend another $50 billion. >> and you just said it yourself that is when jeff bezos did and he said all of the naysayers for years and years. so if mark zuckerberg is a -- i think the risk reward, i think you have 25% down side to have to be a funky market this is not going away it is just not. >> i don't think the market would punish them from moving away from the metaverse. i think the stock would be rewarded and i doan think they

lose credibility even though i hear you. >> just spending less on it in this environment. >> and at a time when they reap an inflection point based on internal things. i don't love him as a manager and the products and when you look at the data, everything about the company, their user base and the margins and they're going to have $115 billion in sales so i don't think you leave this story right now even if you've been there and think it is really attractive from fresh eyes. >> do you feel better that dan said you're doing right thing. >> yes, agree with him if i own some, i would say wow, i never thought we would see facebook at 11 times earnings or whatever it is. >> netflix was down the same amount it is just right at 100% and my point is you're getting opportunities. show is called "fast money" and sometimes if you think about it through the "fast money" lens and also have a few of about what the future might be two or

three years out, you'll have some great trading opportunities. >> it is not just after hours action a couple of big names moving after earnings this morning. an let this sink in. musk looking like he will close tis twitter deal and wh hhaate d to say about the social space "fast money" is back in two.

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welcome back to "fast money. time now for our check in on some of the names that reported earnings before the bell first up, caterpillarupping 7% the company beating on the top and bottom line crediting healthy demand stocking adding 100 points to the dow today, tim? >> these numbers were interesting because we've heard about demand issues and i thinker that cautious on world be they talk about commodity input prices and that is why the stock is moving higher and they see investment in mining and they do go higher. >> and mcdonald's seeing same store sales jump by 10% after raising prices on menu items guy. >> we're talking about a stock within a hair of the all-time high we've been talking about mcdonaldez's, it is reasonable d

i think this quarter backed up everything we've been saying i think it could continue to grind higher on a benign to decent tape. >> coming up, chief twit in the building nearing a possible close, what the ceo told about the plans for the company and could there be more in store nor the energy trading playing exxon ahead of earnings tomorrow. that is next when "fast money" returns. ♪ ♪

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welcome back to "fast money. the self-proclaimed chief twit closing in on his deal to buy twitter. treating to advertisers today saying twitter cannot become a free for all hell scape where anything could be said with no consequences musk adding that he did not buy twitter to make more money i did to try to help humanity who i love the tesla ceo back in the company san francisco headquarters today yesterday he posted a video of him carrying in a porcelain sink it looks like a bathroom sink to me take a look at arch capital. they will replace twitter in the s&p tomorrow dan, you were betting that the deal would not close >> i've had two trades in last po and one was profitable and was a big loser. i was risking what i was willing to lose.

when i read that today, that scares me. this is the richest man in the world and he's obviously does whatever the hell he wants he's got this vehicle now that he thinks is going to save the world because he loves humanity. if that doesn't scare all of you, i don't know what would and that is all i have to say about twitter. because after tomorrow, we don't have to talk about it any more on "fast money." >> this is exercise tonight. >> i didn't read it that way >> really? >> he's got a god complex andez doing this for all of us, because he loves all of us. >> because it is become a cesspool. >> i said we were promised tony stark and we got a bond villain. >> oh, doing it for humanity is not why he's doing it. so if we take words out of elon's mouth at face value, we would have chased a lot of deals. maybe this one will. switching gears, the oil stock now up 77%, mike khouw has

the action. >> right now implying a move about 3.4% higher than the 2.7% averaged over the last eight quarters calls outpacing puts and it traded at about 1.3 times the average daily call volume. the weekly were most active. but we saw a buyer of a 1,000 of the december 120 calls paying $1.60 and betting that the stock could rally 12.5% or month by december expiration. >> exxon-mobil, guy. >> i think it continues to go higher crude to stay at this prices for next year and conico and chevron will go higher so stay with the name. >> thank you more more opt"options action," e in, when is that, guy? >> 5:3torr0 moow >> see you then. >> up next, meantime final trades

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welcome back to "fast money. another check after the bell tonight, amazon off the lows of the session. the cfo saying aws retch slowed at the end of the quarter and it

could carry into q4. and it is down and apple is up higher, poin 8%. and it is about an hour in and we know there will be a deceleration in revenue growth from the past quarter into calendar year fourth quarter intel mean time, it's up 5.6% hold on the gain after planning $10 billion in cost cuts over the next three years and pinterest, this is bucking the trend here up by 9.4% after the company missed estimates, but it said that it is growing in terms of average revenue per user and the commerce aspect of the site. t-mobile raising their forecast, up 3%. and gilead is adding 4% after the covid drug sales drop. time for the final trade let's go around the horn. >> beer trends are accelerating at budweiser >> karen, after a huge run up in

banks, i would sell some bank of america. >> dan. >> meta. >> and i love exercise pinterest on the arpu. >> thanks for watching "fast." "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 help you save money. my job is not just to entertain but to educate, teach and put crazy days like this into some context. so call me at 1-800-743-cnbc or tweet me @jimcramer look, this market is actually starting to remind me of the old

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