opposite directions, they hire after typing estimates well on his own lower despite beating both companies posting sales growth for the quarter, advance auto parts outgoing ceo saying we expect to see further improvement in inventory availability throughout 23, which reveals the single most important driver to accelerate topline growth. another data point tomorrow when we get new vehicle sales, morgan. >> it is good news for further good inflation. that will do it for overtime. >> fast money starts now right now, the u.s. versus china and prime time. we are two hours away from a live congressional hearing tackling the chinese communist party threats to america. what will this new round on major u.s. businesses with beijing and his big tech potentially in big trouble? the report straightahead. ceo david solomon thing it is big yesterday. he didn't do enough to calm

nerves following a push by the firm. we will give insight targets challenging not so terrible quarter. the next 100 a challenge in the bombshell after the bout announcement from nova packet, they say in a year from now it might not be in business. you see they are tanking. this is fast money tonight. we start off with a big surge in social stocks, it's not so jumping is a bill that could lead to an eventual ban of tick- tock makes its way through congress. have committee debating legislation right now that would revise protections given to content distributors against u.s. sanctions. the bill goes to the senate. all this ahead of a primetime hearing from a new congressional committee focused on china. house members digging in on the threat to the u.s. from the chinese communist party. amy has been talking to the committee and is here with a look at what we can expect

>> this hearing will give investors a sense, but maybe only a sense of where the new rules of the road are going to be in terms of investing in china, already seen some investors trying to recalibrate their investments in china to make sure they are ahead of whatever these new rules to be coming out of washington are. the wall street journal reported the capital is bringing a national security experts as an example to scrutinize investments in china to make sure they are on the right side of the line. it is an open question right now whether tiktok, just to pick one example will be banned from government phones are banned entirely in the united states and that is where tonight's hearing really comes in. the select committee is going to start with national security, human rights and manufacturing issues giving investors a field for the politics of others. they will hear from two trump administration figures who have bipartisan pedigrees. national security advisor hr mcmaster and former deputy national security advisor matthew pottinger. the committee is going to hear from human rights advocates

tony and scott paul, the president of the alliance for american manufacturing the one dynamic to watch in all this is whether democrats and republicans try to act tough each other on china. if they do that is an indication that restrictions on chinese investment are likely to end up on the tighter side of the line, as we tried to get a feel for where policy is going.>> thank you. a couple of hours away from the start of that hearing. it almost seems like all the factors are in place right now for there to be a tough stance regarding china. >> the rhetoric it's worse and worse. it is happening a lot later than i thought it would happen. i thought of the chinese u.s. stuff we take place last year at some point, but here we are now and it is getting ratcheted up. it is problematic. it is not getting better soon. i think the saber rattling will continue. i think the market is underestimating, 20 or so is completely underestimating the ramifications if there were to

be a u.s. china economic war. >> emmanuel said we are not even pressing the geo little risks. this is happening while china is raising to attach to the privacy rules to all u.s. multinationals who have to file and get in line. j.p. morgan, amazon, it is happening on both sides and if you look at companies, we have talked about this, companies like apple and tesla, companies like starbucks have a brand in a product. and consumer products, it's different than technology companies, but i don't think anyone is immune. you talk about china saying we are worried about the data you are collecting, it works both ways. >> the other point is our digital companies are not allowed it to be in china. when you think about apple as a great one, they are selling lots of hardware that has access in the app store, so that is is digital transfer,

but when you said about our social media companies, that goes back to we were doing the call today, we are looking at something, it seems like low hanging fruit, this is going to be ratcheted up here and when i think of us not, $16 billion market cap company, 5 billion in sales and when you think about that monthly active user number they just announced at 750 million, we have been wondering for years, sitting on his desk as facebook ran away with that user number from 1 billion to 2 billion to 3 billion. who is going to be the next one to get to 1 billion? this is an under monetized property in my opinion, so i think they have cut things to the bone. they would be the easy beneficiary if there was a tiktok band. >> sam had outlined there is no upside from china. there is no downside from being banned because they are not there. there is only an upside.

>> absolutely. if you think about every line item these tech companies are expecting, the one that is growing is the lobbyist. me personally if this gets banned, i will be devastated. where am i going to find my airfare content? the social media companies are in a great position to be able to benefit from having this wind go away for them. i think there are a lot of essences you don't appreciate that have a lot of exposure to china that could be doing well. i was on the phone with bentley securities that is the structure software and obviously with everything china is building they need infrastructure software and the only way they can access these markets is with joint ventures. it goes both ways.>> you are mentioning multinational companies like starbucks and nike and there does not need to be a pan or anything like that in order for the chinese population to be encouraged.>>

that is right. companies doing business there are collecting all kinds of data. consumer data. starbucks is a loyalty program. i think about these companies, we talk about the facebook's and the google's not in china. the american consumer, nike, these are our biggest brands and we are talking about a time on top of all this, there has been a lot of news about covid origins. you are only ratcheting up tensions about things that are deeply emotional >> more and more people in the administration side, then asked the security side, china and taiwan, that seems to be getting ratcheted up and i think u.s. companies correctly pulled out of russia when the russia ukraine things started, but obviously so many of these companies, russia is a nonstarter. it is a rounding area in terms of revenues. if china were to do something with taiwan, they would be

forced to do the same. they would have to leave mainland china and if they didn't, it would probably be worse for the company. what is the chance of that happening? 20%. there is a huge risk around china and taiwan escalating. >> the precedent that was set last year with russia, i think your point about the nationalistic tendencies when it comes to consumers, eating about apple, they are five and smart phones, local manufacturers do much better than them and tesla is an easy one and they have less than 10% market share, just a lot of local competition and so when you think about these companies from the u.s., not only do they have to worry about consumer demand, but they rely and tesla that we have set this, they have materials in sorts of things. it gets complicated. those companies will be the last battles fought in this. in the meantime there is going to be a lot of for tat and i can't imagine tiktok is not going to be one of the early

casualties in this economic war. >> get airfare recipes elsewhere. for more, let's bring an analyst , cnbc contributor, it is good to have you with us. it is a bipartisan issue being anti-china. it does seem like the rhetoric is in place. this would be the time for some sort of anti-china legislation to be passed in yet congress is congress. so how should we look at this in terms of whether something will actually be done?>> a question. i have been here all day trying to get a sense of the mood in the mood it's a bipartisan focus on competition and trying to lay out the litany of irritants in the relationship, but also a real focus on trying to figure out where the weaknesses lie and then to your point to try and put together some sort of legislation to address those weaknesses, but to your point, congress is congress.

it is fair to point out that we have a republican full house, a democratic-controlled senate and the senate can go its own way and the president has veto pins. i will say the house seems to have its pulse on the american people's opinion about china which is increasingly negative. so i think you will see a lot of issues tonight. you will find a lot of agreement that in america outside the beltway on trying to do something about the threat that china poses. i do think congress, this committee will focus on weaknesses. they think the business community may be one of those weak links. >> just to drill down on tiktok, the american people maybe anti-china in terms of competitive threat, but they love tiktok and they don't want to give that up. how do you think congress foresees that as a priority when it comes to where they can

limit our interactions or limit investments? >> that is a good question. tiktok was in almost every conversation i had today. we have some history of when washington gets zeroed in on a chinese company. while away was that company. something eventually ends up happening and i don't know if this is the round to do it, but i do expect at some point whether it is a limited band or a federal ban, nationwide, something will get done, but i did hear an interesting thought today and that is there are some people who don't want to see us target chinese companie , but rather take a look at actions that we dislike and focus their. otherwise you end up in a lacrimal situation. something else the next time around. a real focus on the actions that we dislike and going after that with policy solutions >> this is a concept of exploring strategic competitive landscape, and i get the sense on this side we often think we

don't have any strategic petition from china. our template companies are the biggest. we know that may not be the case. are you picking up on any dialogue? this is an opportunity for the u.s. to better determine where we might need to do more to compete against china. it is not just about us dominating.>> i think that is a good point. i think a lot of people don't realize the degree to which china has its own companies in the market, but also looking to compete with us and third markets. a lot of that is tech related i will note today it did not get much attention because of the hearing, but the commerce department released the latest rules on what it would take for companies to get some of that chip at funding and there are a lot of things that will limit companies from really doing business in china, expanding there for over a decade, joint research, license efforts, so

you are seeing it it really dial in and i think this is going to continue to be the trend going forward.>> at the same time this hearing is going on, there is also this notion of poking the bear, trips to taiwan and things like that that could provoke china. is there any acknowledgment that our actions could be scrutinized and perceived as threats or sort of being disrespectful to china of course our politicians will say they can't tell us what to do and that is fair. it is not making tensions better between the countries >> that is right. you raise a great point about what at some point will be a retaliatory measure from china. we know, we have seen this during the trade war. china will hit back and again, you have heard me say this, it may not be symmetrical, it may be an asymmetrical hit back, but there has been a lot of things we have been doing to poke the bear, and at some

point you have to expect there will be some retaliation from china and that could come in many forms, but it is something you don't hear discussed publicly a lot in washington, but behind closed door, there are people who are aware that china an punch back. >> you knowwe are locked in this battle with inflation here and when you think about this you have been following this arena for a long time. everything, this back-and-forth is inflationary, at a time where i think a lot of investors in the u.s. have gotten more comfortable in 2023 that inflation is in the rearview mirror, but all of a sudden if we were going to have this the globalization push, additional tariffs, isn't that just as big a concern right now for u.s. citizens and consumers and investors? >> i think it is. unfortunately i don't think a lot of people have drilled dow

, certainly the consumers have not, but i think when you start talking about decoupling, start talking about the risking supply chains, there is still a lot of uncertainty around how all of this is going to land. so this absolutely could continue to have impacts on the economy as we try and fight inflation. unfortunately it is not really a discussion we are seeing, at least i didn't care much about this as a discussion that i had today, but it is a real concern. >> always great to get your perspective. thank you. inflationary, i am glad you brought that up to bring it full circle. it certainly does not help. >> it makes their job difficult. we have talked about it for a while. this d globalization, that is extraordinary inflationary which makes it difficult job, which is one of the reasons i think the federal reserve has

shown such result in the reddick around rate hikes. >> if you look at how we are trading the markets, taiwan back in the third week of october, we formed a bond with china i think they are an investable. if you look at the web, first of all taiwan went from $63 to $97 along with semiconductors. taiwan semi will have political risk attached to that investment story and if you look at the web, 20% after 93, 94%. there is no question, although we have said and i have said and i believe em is an allocation that i can quickly continue to pick up steam as long as the dollar is around 4%, so it is really dense in the trade, but you can't tell me allie and stocks aren't going to trade at a discount in this environment. >> do you think we have sufficiently apprised in the risk exposure, the china

exposure risk on some of these stocks? >> i don't think, i mean, i don't think anything is priced into these stocks. generally speaking evaluations are rich and healthy when you about just inflation, let alone any kind of geopolitical risk and i think what people underestimate is how interwoven a lot of these companies supply chains are if there is any kind of friction, it has a material impact. think about how covid impacted power supply chains and how that ripples through our economies. i think they are interdependent and we would love to be able to sit here and say go usa, we don't need them, but we do. thinking about businesses that have a lot of exposure to china is probably not reflect that in valuations.>> shares plunging after a big morning. why the company is struggling to have growing concerns. pretty and is dropping afterth

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>> welcome back. we have got major news. never backs therapeutics moving in different directions after hours. mag has got the details.>> let's start with nova backs, that call is going on now and on the fourth quarter update, the first time we heard from the new ceo, they warned about their ability to continue as a growing concern continuing to fund the operation. they pointed to uncertainties around three areas, 2023 revenue , u.s. government funding and pending arbitration. they said as a result, given these uncertainties substantial doubt is there regarding our ability to continue as a growing concern for one year the date these statements are issued. nova backs was one of the companies and operation warp speed. they did get a vaccine to market, the fourth covid vaccine to get emergency use authorizations, but they did not get it there soon enough to

participate in the billions of dollars that came to pfizer, the front runners in the covid race. garcia nova backs down 25%, the call is ongoing and it is interesting because the ceo is saying even as they are making this for he is saying they are trying to position himself to become a global leaders and vaccines, so not counting themselves out. i will attorney to reston, a different story, positive news reading the stock higher. that company is saying the fda has said it is not going to hold an advisory committee meeting for muscular dystrophy, something investors have been watching closely. the fda said to make a decision on this by may 29 and rbc says this is a $5 billion opportunity and investors have been married if there has a meeting, that might signal the fda was unsure about approving it, so maybe this makes it likely they do. we will have to watch that inmate they are up 15%.>> novak

has got $1.5 billion from operation warp speed, the vaccine made it to market. recently the government has been buying more and more of the vaccine. so you have to wonder what other business they were doing or not doing. if they are in such dire straits at this point, who their other customers might be because it seems like the government has been its primary customer, we have been the primary funder and the primary purchaser of the products. >> that is the case for pfizer for their covid vaccines because they have been in this emergency use authorizations system. they will not transition to commercial until later the year, so governments all around the world are making these purchases. when the tech but arbitration, they are talking about a fight right now with the global vaccine alliance over doses, they have been promised and payments that have been promised and returned, so they are fighting over millions of

dollars for vaccine doses that were not delivered. so the same thing is happening here in the u.s.. there is discussion, yes we did purchase more doses, but if they need to update the vaccine for the fall and they will need to, can they do it quickly and what will those purchases look like later,>> there vaccine platform, can be made into another vaccine like an mrna vaccine? >> yeah. it is a more traditional pretty vaccine and that is one of the things people like about it. having a different option as opposed to mrna vaccines. they have data and flu, they are looking to expand it and combine it into a covid and flu vaccine. so there are a lot of options here. they have to make sure they got the money to continue funding the child's to get these things across the finish line. >> thank you. always got the answers.

what do you want to trade? >> it is a $12 million company with $2 billion in cash. they just reported their earnings today. this is big news for them without question. the question is going to be do you chase the stock up? probably not. this is a name we have talked about. weekly, novavax is probably below half $1 million. i want to be careful. this was a $250 stock in i think august 2021. we talked about it then, we said be careful here i remember this conversation because we are trading at levels we last saw in 2015, so you talk about a massive double top. it shows the binary outcomes for some of these companies. it shows the power that one drug can have the balance sheets and then the futures of another company. >> securing long-term contracts is something nobody sees and that was one of the big questions. how much of that he was funding is loved. when they start saying is a

growing concern, we are concerned. the other side of this is pfizer. it is trading at this 41 level. they announced that deal, that speculation boosting their oncology pipeline and where they expect to have an extra 30 billion in revenues by 2030. i think they are on their way. you look at the trade on pfizer, an attractive place to own it. >> we are all over the action. dropping after it is resolved, details our next. here is what else is on.ed on d solomon as he lays out plans to grow the investment bank. the trainers are giving their grades next. plus consumer crunch, our next guest since we are in the calm before the storm. the three key drivers she says

are deflating the economy's landing. you are watching fast money from the nasdaq market times square. we are back right after this.

>> welcome back. we have earnings, eb maker plunging after a smaller loss than expected radian making an offering and production targets saying they expect to make 50,000 new vehicles. that is worse than the 60,000 expect to. the company was saying the comply constraints will alleviate in the second half of the year and the forecast has positive growth profit in 2024. it does have a lot of money in the balance sheet.>> it does. we kind of knew what the

deliveries were going to be. that guide is bad and in terms of pricing, those margins and 24, the competitive cost are really important right now. it is an environment where capital is different. the balance sheet is fine but they are burning a lot.>> if you think they are planning the equivalent of that, right now that level is unsustainable and you think about the valuation relative to what they are able to produce the fact that this is a pretty high-end price and consumers that are able to pay this much for a pick up truck arson on the ground, so i continue to believe that something like this cannot trade like a software business, particularly when we know the terminal margin on this business is low. i don't care, it is a low- margin.>> we have gotten radia , we have heard from ford and its business. we heard on the eb business, and

the common thread is it is tougher than it looks, but there is a lot of competition and maybe knowing there is not a lot of on the investor meeting tomorrow, tesla is best positioned right now. given what all these guys are telegraphing. >> i was actually going to say you want to hear this continued dialogue of all your competition because maybe the competition is not as robust as the tesla bears want to make it out to be. with all that said, there is still competition and tesla still has more than 100% and it is still in my opinion an expensive stock. >> you are the opposite. >> here is a company, tesla is a market cap company, so from then they went public, you unmask never headquarters like

this where they would guide lower and say you know, we are not going to hit those targets. it would do the opposite and he got rewarded for that for 10 years and i think the story has changed because you have to trade, you have korea, you have the germans, the chinese, you have a lot of people making these cars and not just these upstarts. those guys are going to go away. it is going to be the incumbents that are going to be battling it out with tesla. my point is in the history of automobiles over the last hundred years, has there ever been a company that was able to maintain this sort of dominance as it relates to market cap relative to their market share for the product they are producing and i would say no. i think tomorrow is going to be a.and i think it could turn. >> that seems to be the consensus on wall street. the battle seems to be harder. even the incumbents are having difficulty doing this.

>> i will say this, they are still, even at a guide of 50,000 from 60 they will still be up 130% year-over-year. they are growing massively relative to themselves. i think the issues at ford are things we spent a lot of time talking about this, fort has spent time talking about it. it is not just what is going on in different parts of the world and streamlining. tessa for a long time has had a tough time making that car the model three for the amount of money they said they would make your i think they are all having that issue but tesla has balance sheets. >> the take on target writing expectations. but the company had to say about the strength of the consumer. , nearing a breaking pntoi, patterson will join us next to lay out what she sees as driving the economic landing. don't go anywhere.

>> welcome back. in february with losses, the dow dropping 232 points for it was closed since november. tuesday rounding out the interviews with the doubt down

4%. target managed to hold on today after the earnings would be to this morning. they missed expectations. inventory is low. that is exactly where they need it, down 13%. >> yeah. that is what happens. they figured it out and you are seeing a release. we have talked about it, their product makes it different. they shot. it is not all that inspired a rally we have seen and this stock has been mired for quite some time. so i don't target is out of the woods quite yet in terms of the stock. >> they did say there is uncertainty in the variable is how the consumer will be later on. that is a question mark for target. all the guys. our next guest sees big trouble ahead. patterson is a strategist at bridgewater associates. she is out with the op-ed.

the, for the storing, these drivers will take the landing for the u.s. economy. welcome, great to see you, great to have you again. before we get to the drivers, wiley coyote, that does not sound like a good moment for the u.s. consumer. that is what you think is going to happen.>> i think that is where we are headed. the target was a perfect example of this dynamic. their earnings right now are fine, their expectation is soft in the consumer right now is fine, but where are we going work so anything about what is holding up the consumer right now, they send it down other savings from the pandemic. this will transfer and what struck me and what prompted me to write this piece was the federal reserve report that came out recently that shows that in the fourth quarter we saw between mortgages and credit cards $400 billion going onto total household debt balances. that was the biggest increase on a quarter we have seen in 20

years and credit card interest rates today are up to 20% which is also a multi-decade high. i look at this and say okay, the consumer keeps piling on credit as long as the job market is tight and they have incomes, but what if companies start to pull back or what is consumers just say maybe i need to be more cautious. on the letter we saw that today in the conference board february consumer confidence report, it showed current conditions is strong, consumer expectations for the week as we have seen since last july. so we are not there yet. that is what makes this tough, but you are starting to see more and more dots, more markers that are telling us the consumer is going to get more cautious and when they do, think about the linkages. if the consumer spending less plus revenue for a company, companies are making less money, guess what they are going to start doing, paring back hiring, greater layoffs means there we go, we get the earnings hit. i do think we are looking at

equity market downside later this year and i would be watching that interplay between the consumer companies and the labor market and of course the fed and those borrowing costs. >> rebecca, great to see you again on the show. i guess you were talking about the divergence that goes on between their rates are and where stocks are. how are you explaining this because we are sitting here scratching heads, watching a vicious move on where we have gone, you know, short and/or long and and this divergence between -- it is difficult, especially we are finally getting that pullback in eps, following u.s. gap and reporting eps. what you say to that? >> i think there is a lot of reasons playing into this. to that i'm focused on, one is the consumer is so strong and i think there is a lot of hope out there that we can have a very soft landing, that companies rather than letting worker and goes will reduce job

openings and more participation potentially to all those things together could hold wage inflation down, allow the fed to pause and the consumer can keep going for some time. i think the other factor that might be leading equities to look through this a little bit is the fact that interest rates are still expected to follow starting at the end of this year. the market has increased its pricing or terminal funds rates for this year and now people are talking about 6% for terminal funds rates by midyear. we get rate cuts, rate cuts next year and for the fed to actually ease, you need to get a lot of economic weakness, you need to get inflation not only to target, but probably below. if those things happen, then i think stocks are going to come down. i think the market is trying to say the feds will put it soon. that will us. this is just a short-term and maybe we get a soft landing, but i think both of those scenarios while not impossible are low probabilities.>> free

from the shackles of bridgewater, now you can talk into visual stocks and trading and all that stuff. we used to talk about it a long time ago. how do you put this to work? what sorts of traits would you put on to back this? >> right now we are still benefiting from the china reopening, we are benefiting from incredibly low gas prices relative to what was feared, which is helping europe economy and the u.s. consumer. as i said, that is two thirds of our economy still kicking strong, so in the immediate future, things look okay. the problem is as i look six months ahead and it is hard to know the timing, i see more and more signs this thing is going to fizzle and the question is when do you start taking chips off the table? it depends on your risk appetite, on your timeframe, what kind of trader you are,

personally i am taking more of a six month you and saying i am going to start putting in some of my portfolio insurance now. they got to 5.14%. that is the highest it has been since 2007. if i can make 5% plus on six months cash, that does not seem like a terrible opportunity cost. are stocks really going to go up 10%, 20% in the next six months? i kind of doubt it. so taking some chips off the table and within your equity exposure, i know the defense has not had a great year start. utilities are down 7% to date, but starting to take that weakness and use it to build and i just a modest and her mental slice of insurance in the next couple of months, so when the party does end, when you have the wiley coyote moment, you are not dulling up the cliff, you find a nice cloudy landon., great to have you on the show. come visit us here on the desk

>> thanks. >> pass or fail, the traders weighing in on how david solomon did at investor day today. that is next. inner voice (furniture maker): i know everything about my new furniture business. well, everything except... ...the whole “business” part. not anymore. with quickbooks, you can confidently manage your business. new business? no problem. yeah. success starts with intuit quickbooks. i think i'm ready for this. heck ya! with e*trade you're ready for anything. marriage. kids. college. kids moving back in after college. ♪ here's to getting financially ready for anything! and here's to being single and ready to mingle. who's ready to cha-cha?! lomita feed is 101 years old this year and counting. i'm bill lockwood, current caretaker and owner. when covid hit, we had some challenges like a lot of businesses did.

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>> welcome back. gutted today as the investment bank hosted the second investor day. the consumer ceo said the bank is exploring strategic alternatives to adjusting possible sales.

renewing focus in the company's wealth management business think they would be the growth engine for the bank. we thought this would be a good time to grade goldman. >> well, as tim mentioned, it is difficult for me not to give them an ache, but i thought they did a great job between john and david, i think they basically laid out a plan for growth. they have a physical stream without management. they still dominate in those areas. i think it trades multiple to book value which i think is 305 or so. 1 1/2 times book on this and you talk about a stock that should be north of 400. during david's tenure, the stock has effectively doubled. i don't think people necessarily love him, but i think there are a lot of people with bows and arrows showing to knock him off and i think that is unjustified. >> julie, where do you stand?>> c+ for me.

>> that is failing >> banking and trading is an a+ business, but it is cyclical and that is why they have been trying to diversify away from that. everything that is happening has been a mess. it is disappointing to hear they have been talking about how they misunderstood the advantage. you think about it that is what they advise clients on,. it looks like they want to take their own advice when it comes to their consumer banking business. if you look at wealth management, if you look at how their asset managers have been performing they have slide that says 71% of their asset managers in equities are outperforming 50% of their peer group. 50%. they don't even have that. not everyone is performing that well. that anchorman line that is like this works 60% of the time all of the time, that is just not very good performance for

them to be touting and if that is going to be the economic engine for their business, i worry they don't have the right pieces in place. i am underwhelmed.>> i am going b+. it is the second investor day they have had. usually investor dave, you are there to show up. there was not a lot they could tell us. the management business is where you are going to get the multiple expansion. i said this yesterday, they need to deliver on the return on tangible equity and the efficiencies, 17%, 60% is what they needed to say. that is what they did and medium to long term there is nothing wrong.>> as far as i'm concerned, as long as i'm in the business, goldman earned the last 25 years has not been a great thing. they make money and bad markets and in good markets. maybe this is ship, the the fact their pacing the music, i think david solomon will figure this out. >> when option is making a bet, goldman has a bumpy ride ahead. mike has the action.

>> i think the market here is actually giving goldman a b, we saw the volume of the bigger trade we saw was a june 304 hundredths triangle and actually the traders hold that, so that trader is willing to get long 80,000 down to 300, but it is betting the upside between now and june is probably limited to the upper 400 strike. this is about basically that may be the worst of the bunch.>> tune into the full show friday at 5:30. coming up, the first 100 days the second time around, bob eicher has been busy since taking control. what challenges still lie ahead, we will bring you the details when fast money returns.

>> welcome back. bob eicher cocking his second first 100 days as disney ceo. a lot has changed since he retook the home. questions remain about where the stock goes from here. julia has the details.>> disney has outperformed the market, but underperform most of its rivals in the past hundred days. eicher has acted quickly to undo the work of his predecessor and to chart a new path for the media giant. eicher restructured the company to unite the creative divisions

and separate espn putting decision-making back in the hands of disney's creative executives. he announced layoffs and cost- cutting targeting pipe and a half billion dollars in savings, which ended his costly battle with nelson peltz. eicher faces some big questions. what is he going to do with who? will he buy out the stake owned by comcast or will he sell disney's steak. how will he manage espn's future and disney's commitment to general entertainment and who will be his successor? all of these questions, as eicher faces meaningful external challenges including an address session as well as a pullback in consumer spending which could hurt their streaming subscription revenue as well as revenue out of the parks division which as we know has been a powerhouse.>> thank you. julie, where do you stand on disney?>> it is interesting to hear the steps he has taken. i think the change in deciding not to pursue the battle is

meaningful and i think it speaks to eicher's ability to talk to people and calm people and get in a better position. i still worry that a lot of this business is really on the back of the parks and that if we have any weakness in the consumer that the parks are going to suffer and the economics of this entire business are also going to struggle.>> it is worth noting and bob eicher was announced, it was a big surprise. it was trading around the 90s and that is where the stock is trading right now and what is interesting, the stock made a 52-week low in there was a lot of enthusiasm about what he might do and maybe he gets a honeymoon period again on that sort of thing but the stock does feel heavy and to julia's point, i a lot of the stuff people were excited about with the streaming businesses, they are less excited now and we are in an uncertain economy and

that streaming business has got more competitive.>> i feel good about owning it and i feel good about their core business and i feel good about a lot of bad news for media companies. we all know what is going on. that is well priced. i like it. i think you are getting the rest of the business for six times and i think that is attractive. >> much better now than it was on february 2. we said that cost-cutting is not a long-term growth strategy. stock was 122 we set. better for the record. i am with timothy's levels. >> we sat here on this desk. >> apparently the lighting here. >> we have gotten a lot of text about that. >> final trades.

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>> time for the final trades.>> security was a company i mentioned, infrastructure software, they are steady and boring and i like it.>> pfizer, you look at the headlines, it still happens or not. in a holding on for the pipeline in 420 30 sales.

i like pfizer.>> carter goals, we are just talking about it. the trade for the rangers over the top. i like that. >> l gr. >> i am with dan "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 save you some money. my job it to put this in context. what makes a good investor it helps to be smart it helps to be hardworking, to be