excuse me. >> listening to the too-hot side rather than the too-cold side. clearly we can't assume goldilocks, but i think that's where we are, bouncing between the two scenarios. at 2 or 3% is not a big deal we're not far from the area where we say just another bear market rally "fast money" is now. >> rates are going higher and will stay there for longer the s&p and in that case dass down three of the past four days google ai's oops moment plunging as chat gtp competitor has accuracy issues in a demo. later we're live in beijing has china reacts to president biden's state of the union and the balloon shootdown. plus capri's disastrous quarter, down about 25% today the results so brutal, one of our traders kept hitting the

sell button during the conference call. i'm melissa lee. this is "fast money. we start off with some big changes at disney. ceo bob iger announcing major job cuts, restructuring and cost cuts in the first earnings report since retaking the helm at the entertainment giant shares slightly higher, up about 8% cnbc's julia boorstin has been listening in on the call. >> disney beating expectations different by better than anticipated growth in the parks division, both operator and subscriber losses in the direct to consumer streaming division ceo bob iger announcing a major restructuring which he described as a transformation that rationalizes the streaming business and puts the company on a path to sustained growth and profitability. the new disney structure has three segments the first is disney entertainment including tv, film, streaming, co-run by alan

bergman and dana waldman a new espn division run by longtime espn jeef jimmy fataro. iger saying it's to creative leadership the company is targeting $5.5 billion in cost savings, $2.5 billion is non-content cost and $3 billion will come from reducing non-sports content costs, also announcing the plan to cut 7,000 jobs. iger reiterating the company's target of disney plus hitting profitability by the end of fiscal 2024. also, they just said they aim to reinstate disney's dividend by the end of the fiscal year cfo christine mccarthy moments ago saying that the disney plus price increase is playing out as expected with only modestly higher churn

she also said they're going to stop giving subscriber guidance but did say the core disney plus subscribers only grow modestly in the fiscal second quarter, similar pace to the first quarter with higher core subscriber growth towards the end of the year. just some positive commentary here about how the ad tier is off to a strong start. make sure to tune in to "squawk on the street" tomorrow at 9:00 a.m. eastern bob iger, disney ceo, will join david faber in a cnbc exclusive interview. melissa. >> julia, in terms of their restru restructuring, your reaction to walling off because it seems like potentially spinning it off or potentially allowing that business to get deeper into sports gambling. >> i think it does exactly that. what's so interesting here about the espn business is at one point it did really make sense to combine it with the linear tv business now sports is such a separate thing, the rest of the entertainment business, whether

it's tv or movies, and this question of whether things should be put on streaming or released in a more linear traditional manner, that's a different story than the decisions and conversations going on at espn and also the conversations about how to invest in sports rights and what to prioritize right now. i do think it is very, very rational, and it does, of course, set up espn to be a separate piece that some day, should they want to separate it out, they would be better equipped to do so right now. >> i had the exact same thought you did as soon as i saw it. i think they wanted that, people to have that thought to me it seems like this call was basically a shareholder sort of presentation for the proxy fight. look we're doing all these things and moving forward and we've made momentum here, cutting costs there. and don't vote for nelson peltz. that's what it seemed to me. >> julia, we'll talk to you a little on. what was your reaction to all of

this you know when a ceo comes back -- a new ceo comes in, you set the agenda on that first conference call. >> i think everyone was so happy to have bob iger back. he's almost the adult in the room, if you will. with him there, you don't neat nelson peltz if he was not there, then you neat nelson peltz in the room. i thought it would bounce to 120, 130 if i look at the pandemic, the low is $85 during the pandemic the february high before that was 140. i don't know what's the right price. i know it wasn't 85. i think it gets back to $130 i can make the case it shouldn't get back to prepandemic levels i know the marks are going to be opening up the parks are going to surprise to the upside. that's why i held the stock. >> julie >> i think it's interesting when you talk about him being the adult in the room.

when you look back at the really good resource, they spent approximately their market capitalization on new accusations that really haven't panned out they've been very expensive. all you've seen is an earnings contraction. i worry that more of the same isn't really going to get the results that you want. i think it makes sense, if you want an activist to go away, let them on their board. it typically has a really good impact and they stop talking because they can >> barbarians at the gate. there are barbarians at this gate this quarter is trying to keep them outside of the gate cost cutting, i think for a couple quarters people will be thrilled with. you saw, is this a long-term approach to continue to get the stock where it needs to be steve mentioned the level. i think it was march 20th, if i'm not mistaken, during the pandemic stock trade down to $85. we collectively talked about that back in november.

this is the level it needs to hold it should bounce from here it's done that so 122 was the high back in august i think that's where we're trading now. it makes sense we stall here again, disney plus being profitable i will tell you, if tim were here he'd mention ar pfrmtsu, average revenue per users, came in at 393. steve was looking at 425 to be honest with you, this is the quarter, if you've enjoyed being long on the stock since the fall, i think you've got to take some money off the table and look for a back and fill. >> karen, you also mentioned arpu. >> i thought that was a character, arpu. >> it might be it's just a metric that just sort of jumped out i think it's interesting i want to go back for one second have they done this espn spin -- spin is not the right question prelude to a spin. that's a movie right there i think it would have traded even better in a slightly

different era. media companies have been under tremendous pressure. i still think it's the right thing to do. so i mean clearly streaming is iger's baby. this is his brain child. he's got to make it work. >> now he's saying it's profitability over sub growth. so that's a different angle than when we were looking at this, it was what was sub growth. >> now they don't want to talk about it. >> it leaves himself room to fail now and still win in the game because that's what he's looking for, looking for more efficiencies versus the overall number. >> emphasizing profitability over sub growth, that's good from a shareholder standpoint. at the same time, gaming share in streaming has always been growth at all costs and always been content spend all of a sudden, every streamer out there needs to rationalize disney needs to do that, too, because of the profitability

aspect and demand from shareholders will bob iger be able to make this work when his hands are tied in another environment, all that would have been fine, not in this environment. >> especially when the environments seems to be going back the wrong direction i will tell you, a lot of the initiatives being put forth, some of the things that tom rogers talked about for a while. i think there's an understanding, sub growth, probably maxed out on this front. let's stop talking about it and focus on profitability which, by the way, is fine i also think they realize they can't out-netflix netflix. it's their world and everybody else is living in it i thought disney plus was a lost leader it's proven to be that the question is, you wrap all this stuff up, talk about espn, he's now, being bob iger, fighting this war, one against

desantis and the other seemingly against nelson peltz do you want to pay 23 times next year's numbers for this stock. it's had a great run again, we talked about it in the fall being cheap i don't think it's cheap anymore. >> for more we're joined by "new york times" columnist james stewart, also a cnbc contributor, co-author of the upcoming book "unscripted. jim, great to have you with us what's your take on bob iger's big plan >> my take is he really has his work cut out for him he gave a great presentation this is iger, the master of shareholder communication. let's stap back for a second you look at the last quarter there's a lot of ammunition for nelson peltz in there. you have flat subscriber or no survivor growth. you have still a million dollar loss in diz sney plus.

iger hasn't been there long enough to do much about the spending there's a serious conundrum here how do you put the spending without losing subscribers i think everybody in the street, investors believe streaming is ultimately a scale game. you have to be big you have to spread those costs over a very large number of subscribers. if you start cutting spending too much, i don't care how much you rely on creative teams, you can't just produce hits and you're going to have trouble with subscriber numbers. >> james, when you look at the option for third party licensing, who would the third party be everyone is a competitor if that's going to be where he's going to turn revenue or turn a profit or increase something on the bottom line, who are these third party people he's going to be licensing >> i have no idea. again, who are the big

licensers. netflix is number one. that's off the table i think it's baffling. i think the idea that you're going to turn a profit in two years is a great aspiration, but is that really realistic given the numbers we're seeing i don't know you're going to squeeze $5 billion out of there that's a huge challenge. cost cutting has never been a long-term growth strategy for anybody in my experience >> james, i'm curious how you're thinking about overall profitability, netflix running eebt damar engines doesn't seem like the profitability will be anywhere near that. >> a lot of the success of disney's numbers this quarter came from the theme parks. again, they're doing a great job. tremendous pent-up demand. but the ability to keep raising

prices, making people pay more, there's an upper limit to that china reopening may help the chinese parks. you're not going to have 25% growth at the theme parks for the foreseeable future if you start take growth out of the theme parks, where else do you see it the linear networks are in decline. everybody knows that maybe the advertising market is coming back or people think there's going to be a soft landing. i think that accounts for a lot of the run-up. let's say advertising does come back i don't see them getting anywhere near the netflix numbers. >> jim, do you think that these problems are too big for iger to tackle is it that iger doesn't have the talent or is the macro -- the environment, it's just too challenging for anybody to try to tackle these issues >> i think it's mostly the macro environment. it's the competitive environment, the competitive

landscape. bigger is going to be better in this business as far as i know disney is hobbled by a balance sheet. it has an awful lot of debt. you're not talking about him the days of iger being a master m&a acquirer disney is not going to buy a big competitor, even if they could get away with it from a regulatory standpoint. if this is ultimately scale business, where is disney going to get the scale i don't think that's an iger problem. iger's legacy rests on streaming. i think one of the things i sort of admire him for but think what was he thinking when he came back, he had the best reputation in decades of anyone in business, the media landscape. it was sterling. how could it get any better? his legacy was fantastic now he's back trying to defend an assault on his legacy

streaming service that's coming from all sides. >> jim, all great points, thank you. always great to get your take. jim stewart from "the new york times" we made that point when he came back, the flip side of it that iger must feel really good about conquering these issues if he were to come back, since he already had such a great legacy when he left why would he come back here we are, well, why did you come back? you're going to tarnish your reputation at this point >> listen, we all have egos. at a attorney point you say, you know what? they've run this in the ground if i come back, i can fix it i can bring it back to the levels at its zenith. now you're starting to see the headwinds that jim talked about, by the way, the same headwinds that tom rogers talked about as well and we brought up this is a tough nut to crack in terms of the streaming business

and in terms of getting profitability. i don't see how it gets there. and, oh, by the way, it's not a cheap stock now either you have a couple of those headwinds. talking about ego, i can't speak for mr. iger, but i guarantee he does not want nelson peltz anywhere near a board seat that's just my opinion. >> disney shares up 5.2%, well off the afternoon highs up about 9% shares of google apparent alphabet dropping 7.5% their worst day since october. the company holding an event to show off chat gtp competitor after microsoft unfailed its own artificial intelligence. in an ad promoting the event on twitter, it appeared to give an inaccurate answer about the james webb space telescope shares of alphabet are down three of the last four days and basically flat for the month when you're trying to sell

artificial intelligence, it doesn't help if it gets it wrong. not a good selling point. >> i imagine fewer people working at alphabet shortly. remember when elon had the truck, and it wasn't elon that threw the ball at it it was a metal ball into that shatterproof glass and it shattered. then they did it again and it shattered again. >> i thought you were going to say the robots, but they were actually humans dressed as robots so many different examples. >> hopefully this will be a little blip. the much bigger question is how big of a threat is this to google is the microsoft -- is this a parlor game kind of thing or is there a lot more to it google has not done a good job -- this is not like they're late to come to this, right? they've been in the ai space for a long time. they just need to show the value. i think we spoke to deep mind

being -- they're going to focus on it as a little more transparent than it has been, which has been zero. disappointing day. i still like alphabet. i think we're in the middle of a transformation that we don't know how it's going to shake up. i don't think this web telescope will be a factor >> satya nadella said something to the effect of margins and search will continue coming down of course, this after they said we have this ai enabled being in edge, julie. the second thought to that was that nadella then said, and google is going to have to defend every bit of margin they have i think that really crystalizes the challenge that alphabet now goes up against. >> yeah. if you think about chat gtp, it's a pretty existential threat for the google business. if you think about the google search experience right now, it's not targeted towards giving you the best solution. it's a mess of links that people

have paid for. if you think about chatgpt and the elegance of bringing a solution that's more targeted to what you're looking for, it has errors but i'm sure they'll get better that's a real threat to google's business the problem is they have the ai i'm sure of it, but they cannibalize their ad business. they're in a unfortunate tough situation. the only silver lining of this, this potentially opens the door to say to regulators, look, we have lots of competition now, we have this chat gtp thing that's the only silver lining i see. >> do you see it as cannibalizing its own add business, by layering an ai and making that search tool more effective? >> potentially it's not trading at a crazy multiple like the margins are unassailable >> right >> but that is potential for sure coming up, we've got more after hours action after the

break. chairs of robinhood and affirm moving in vastly different directions plus tesla holding an investor day and elon is teasing an energy plan for planet earth t at's not too big don'go anywhere. much more "fast money" on the other side of this break zable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market.

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two fintechs affirm shares dropping after reporting a bigger than expected loss, announcing job cuts affecting 19% of its workforce robinhood on the move, higher by 4.5% despite reporting a top line miss. kate rooney joins us with more on both reports. >> let's start with affirm cutting the full-year outlook, laying off about a fifth of its workforce, expecting revenue $1.48, 1.58 billion. also lower gross merchandise volume it missed its own prior guidance for that metric as well. when it comes to lay-offs, you mentioned the ceo saying and calling this a time of economic turbulence he says affirm will adapt by

refocusing the core businesses and really only focusing on the high conviction things: he did say they're closing down things like affirm crypto, not seeing a meaningful jump in delinquencies. those img proved sequentially and were in line with prepandemic levels it's been an extremely volatile stock this year and an extremely shorted name robinhood, eps and that loss was part of the result of what they called a processing error, a mistake on the company on a reverse stock split, resulting in a loss of $57 million the ceo saying this was really disappointing and as a result they made the decision to eliminate executive team's cash bonuses. the cfo said they're also able to hedge the slowdown on the revenue thanks to higher interest rates net interest revenue was a bright spot, up 30%.

monthly active users were down crypto and equities revenue also dropped 24% and 32% respectively we mentioned the cash bonuses. the founders are also taking a pretty big pay cut or at least foregoing a big payday, canceling about half a billion in stock-based compensation. that should help cut operating expenses by up to $50 million per quarter starting in q2 we had ftx related news. the doj seized $5 million of robinhood that sam bankman-fried bought in may. robinhood board approved to buy become the shares and are working with the doj on how to do that. >> the error on the stock split, kate, is just mind-boggling to me you think that it's all computerized and it's done it's not like some guy in the back coding and he made an error. how does that even happen? >> that's a big question

unforced error for sure. they really started the call off saying we've done a postmortem we're making sure this never happens again. the idea was that they had the reverse stock split on a stock back in the fall or around november and said that they pretty much messed up and it resulted in an accounting error. they figured it out pretty quickly but ended up with a huge financial hit that results in the eps loss and as a result decided no cash bonuses for executives and talked about accountability definitely shooting on their own goal there, an unforced error. >> can you imagine if it was google's ai that was in charge of doing that? >> okay. i'm a little confused on the stock-based compensation helping the cash flow. removing it -- >> doesn't give you cash. >> doesn't give you cash was there a cash bonus they're foregoing. it looked like it said

stock-based compensation of $500 million. you can imagine after a flub like that. >> i don't understand. especially for a company that almost made their business on the stock split kind of frenzy >> exactly >> i don't get that at all the ftx thing is interesting, if they can buy that stock back that is interesting. i'm not sure how they'll do it >> if you look at the price action coming off the print, the print was not spectacular, wret the stock is up after the print. it means sellers' exhaustion, overshorted. people were getting too tired of seeing it at the same level and bears throwing in the towel. it doesn't mean a bullish story. it just reached critical mass. >> the shrink on active users, 11.4 million in q4 from 17.3 the year before. that's a massive shrink year on year

>> yeah. everything is trending the wrong way. maybe it's just -- to steve's point. maybe people are getting tired of seeing it at one price and it's a short rally this is a trading stock. i don't think this is an investable stock i'll tell you about a firm if you want to go down that route real quick this is a stock probably up 160% from the 52-week month low, i think it got up to 21 and change if you want to get it down to brass tacks. it's about take rate take rate in terms of total revenue was 7.1%, a year ago 8.1% that's not good. this is even more important i think. revenue -- the take rate -- revenue less transaction costs, 2.5% a year ago it was 4.1% it's trending the wrong way on top of which there are credit concerns out there danny moses has come on the show

and talked about this. the stock is down significantly. i don't know if it gets back to $8.50 which is where it trumped at >> here is what's coming up next >> musk going green? elon teaching a master plan for sustainable energy on planet earth. could this trade be hitting to the moon details on tesla's investor day next plus, speeches and spy balloons we're live from beijing with the latest on china's reaction to the state of the union what it means for your money you're watching "fast money" live from the nasdaq market site in times square. we're back right after ts.hi

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welcome back we make way for master plan three. elon musk announcing tesla will hold its invest ertz day on march 1st, half to a fully sustainable energy future for earth. the announcement comes as two tesla models were named the best-selling vehicles in california the stock has been on a tear since the start of the year, up more than 63%. steve, where are you on tesla right now? >> got long again today. i felt like al pacino from "the godfather. just as i was out, they pull me back in. if you can stabilize above $200, there's a real gap in technicals, up to 230, 240 for me >> you'd be back theoretically through the investor day >> yes i think -- the way it stands right now, this can always change from a trader i'd rather be there. i've been using the analogy of

rabbits coming out of a hat. he can pull a rabbit out of the hat whenever he wants. this is another rabbit and another hat. >> you guys out there can't see this, but i can. i can see julie biel rolling her eyes when steve was talking about rabbits coming out of a hat. they may not actually be real rabbits, they could be pretend rabbits and the stock goes higher ahead of big announcement. >> i think he's great at whipping up a frenzy he's got his twitter and tesla behind him that's a meaningful force for the stock. i come back to the fundamentals and i still think this business is not as healthy as it could be it's going to face a lot of competition from well-established players i give elon a lot of credit forgetting the automakers out of the hole and realize they have to have a proper ev option i updated my tesla

its windows come down randomly i'll come back to the garage and the one window will be down. it's not that quality of product. building cars is hard. i'm worried about the long-term fundamentals of the business. >> hopefully it won't rain on you, julie. coming up, a big warning to china. president biden calling out the country after the spy balloon showdown what rising tensions could mean for markets next shares of capri holdings tanking on the back of results more on that when "fast money" returns.

welcome back to "fast money" the fed's christopher waller was the latest to make the case for rates staying higher for longer. nasdaq down 2% the dow shedding more than 200 points in the interview with reuters out in the last hour, jpmorgan ceo jamie dimon saying the economy is doing, quote, okay, but saying there r there are potential storm clouds he's back as a weather man here. where do we go from here, guys what do you think? >> i love that he's fantastic i don't know what he's

auditioning for. it doesn't matter. he'll get the job. you know what i think. i've thought it for a while. this move since mid december puzzled me without question. yesterday specifically was a really odd day some of the things have started to play out. the hawkishness of the fed is still there despite the fact that powell wants to throw disinflation out the economy is slowing down. the market got expensive right before our very eyes at this 4150 level, if you put a market multiple of 18 on it, $231 worth of earnings which is not going to happen. margins compressing. seeing it left and right companies are cutting costs because they have to that's just not an environment where i think you've got to be overly bullish in stocks i think we continue to go lower from here. >> he's also making some forecasts. he says if inflation remains sticky he sees fed funds going above 5% which is what we heard from many, many fed officials.

maybe it's more convincing coming from jamie die r diamond instead of somebody at the fed which apparently has weathered -- its credibility has gone out the window because nobody listens to the fed anymore, julie >> i agree i think the whole fed's ability and credibility to stay on message, it's a challenge for them nobody really believes them. i kind of feel bad, honestly people do really respect jamie dimon. they do it for good reason one, i think he's a visionary thinker. two, he has access to a lot of data on customers, consumers and businesses i think there is the real potential, maybe not so much for a meaningful slowdown. but there is a meaningful decline in confidence that you're seeing in businesses. the incremental willingness to invest and hire more people, it's diminishing that's a headwind for the economy. >> meantime, china today bashing president biden's state of the union address.

cnbc's eunice jyoon is in beijing. >> reporter: the chinese foreign ministry said responsible countries shouldn't slander and calling the u.s. to be objective and rational the speculation has been that the chinese didn't want to be seen as specifically targeting or outright criticizing president biden's remarks during the state of the union address because of his relationship with president xi this more muted tone for the president comes amid a row over the chinese balloon which the u.s. alleges is being used for spying of course, the chinese deny that president biden had described it as a potential threat to u.s. sovereignty. now, that description has irked the chinese of the entire biden administration because the chinese like to paint themselves, especially globally, as a champion of state sovereignty as well as

international rules, in contrast with the americans who they are suggesting instead are interfering as well as imposing western values now, the chinese for the biden speech didn't specifically reference the balloon. however, they did say -- the foreign ministry said the chinese would firmly defend china's sovereignty. melissa. >> eunice, to switch gears a little bit the end o of the lunar year celebration. people are done traveling. there's an expectation in the west that there's a reopening trade under way. i'm wondering what it's like on the ground i this i the difference between our reopening in the u.s. and china's reopening is there was no stimulus. for a very long team people's incomes were impaired because they were locked down randomly, so they just lost their living, were unable to pay rent in some cases, lost their homes in other cases. what is it like there?

>> it's absolutely as you described. there's a lot of discussion right now about reopening. but at the same time there's been a lot of talk about the years loss of income due to covid. the way people have been approaching consumption -- i just came back recently. my initial impression is there's definitely a lot more economic activity than in december when i left there are people out there, there's traffic actually there's people going to shops and restaurants. one big difference is that there are no scans which is kind of interesting. the last time i went everywhere people would scan you for your health codes there was always a threat of quarantine and lockdowns now that isn't the case. so people are spending, they are going out there. but at the same time they're worried about the fact that they don't have a lot of money saved

up there's a lot of discussion, should i pay off my mortgage early if i am able to save i don't want to actually upgrade, some of the items where you can put off an upgrade, such as an iphone, which is one of the reasons i think you see the smart phones down at one of its lowest points in a decade. it may be why the fact that apple put out this discount, a $100 discount which normally would stir up a lot of attention in this country, hasn't been discussed as much. >> eunice, thank you eunice yoon. the situation in china, steve, is difficult >> the way we translate, what's the china trade? i'll use alibaba as the stock. the stock stopped right where it stopped in february and in july.

every time it gets its feet underneath them, something happens, whether it's a political event or whether it's china doing it to themselves, self-inflicted or the u.s./china relations. it seems as though the china trade wants to stop in its track. coming up, a cap tri catastrophe. shares seeing their worst day in three years. why one of the traders calls the report a disaster and another is hitting the buy button we've got those trades next. back in two.

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shares of capri holdings getting crushed today. plunging more than 20%, the worst day since 2020 the company u seeing revenue plunge in its luxury brands. karen, you started selling even before the call. >> the problem was michael khors. there was a giant miss on wholesale. they also said during the call, i believe it was, this isn't getting any better so we're going to have to try to rationalize. when you've got a giant revenue

miss, it's very hard to catch up to that revenue miss with cost cutting or whatever. so it was incredibly disappointing. i couldn't understand how it was that this was so -- this wasn't apparent earlier so they talk about how they're going to do this fiscal year i think, well, how can you make an outlook with any credibility when you just sort of missed this, right? they talked about china. i think everyone knew china was in a difficult situation so this was incredibly disappointing. i think their whole concept of creating a luxury conglomerate has failed the stock is keep now. the stock deserves to be cheap now. we've seen this happen a number of times i like john idle i think he's a good manager, good executive

it's not working whatever they're trying to do is not working and they haven't fixed it yet so for that reason, i just feel like, all right, i've got to get out of this. i could revisit it i do still own some. i thought i was out. i was not 100% out i could revisit. i think at least three-day rule here it is cheap. it should be cheap what should it be? expensive? >> i don't disagree with anything karen said. i bought it because if i go back to february, to march, the stock did the same thing you go back to march pandemic, stock does the same thing. it's a serial trader looks like an ekg. if you look at the stock, they buy back 20% of the company every year so the buyback -- >> and yet. >> this stock trades traditionally from 70 to miss 40s.

buyback is back on friday. i expect it to be trading back to $60, $70 in the next couple months. uber reporting surprise profit after the latest quarter. one trader eyeing a big move, higher after the results cross kelly intelligence ceo kevin kelly joining us what are you looking at? >> hi, melissa the day ended at 1.6 times the amount of calls versus puts. very bullish activity today on lyft it's surprising given the volatility in the name didn't come down much it's still elevated at about 94. what that means is going into tomorrow's earnings, you're going to see about a 19% implied move when they average just under 6% what we saw today around noon is a trader came in and bought a giant block of 2,228 calls that expired this friday at the 18.5

strike so it needs to move up about 10% by friday. we've seen a proliferation in trading short-term options, and this one is a very bullish call on that. we'll have to see how it turns out tomorrow for this ed traer >> all right kevin, thanks. kevin kelly. tune in to the full show friday, 5:30 p.m. eastern. a couple casino stocks on the move, wynn and mgm both out. we'll bring it to you next cloer clea

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welcome back to "fast money. wynn and mgm both out higher contessa brewer joins us with the latest on the conference call >> we have the tale of two cities and companies both reporting all-time fourth quarter and annual records here in las vegas on the call, ceo for wynn craig billings said he's confident a new record for any stand-alone

property on the record momentum indicates they may actually break that record in the first quarter of this year in macaw where first quarter results, billings said over chinese new year, macao was a ra rager. he picked a couple specific metrics to show they're meeting or exceeding 2019 levels mg mfrmts has done an aboutface, quickly returned to profitable in macao up from the high single digits ceo bill hornbuckle which has been on going through out the hour, that the government's award of 200 more tables should help them shore up the grab in

macao. >> contessa brewer in las vegas, thanks guy. >> we've been talking about win it's working out now obviously tillman bought the stock in the fall, i think around 60 bucks. that was pretty well done. i've got to tell you something, it's probably still cheap here i understand why people say, let's save money off the table the same triple digits for a while. we continue to grind higher. >> i've been pronouncing his name wrong all these years. >> let the record show that you pronounce it tillman fertitta. i know his ears are ringing. up next, final trades. are we getting a dog? a great dane? two great danes?! i know. giant uncle dane and his giant beard. maybe a dragon?

no, dragons are boring. twin sisters! and one is a robot and one is a knight. and i'll be on the side of... the octopus. rawr!!! the volkswagen atlas. more room for possibilities.

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>> i'll take the other side. i gets what he's saying. the three-day rule applies. wait a little. >> the last day for our fast money page thank yo my mission is simple, to make you hundred 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 trying to save you money. my job is not just entertain but teach you. after a down day where the dow declined 208 points an