going to argue both sides from our morning on "squawk box," and you'll get both sides of the debate in your inbox tomorrow, as well. if you sign up now of course, this is off of those comments elon musk made to david faber this week. >> i'm looking forward to that by the way, we need to talk about the fact that we're twinning on tv >> we don't plan this. but we do plan on "fast money," it begins right now. right now on fast, florida feud disney versus desantis taking a new turn bob iger scrapping plans for a new campus in the sunshine state that would have housed thousands of employees. plus, full stream ahead. netflix soaring as they add over 5 million users. the stock jumping nearly 10%. then later, walmart's grocery gains. the retail giant says consumers are cutting back on pricey purchases but still spending on essentials we'll go inside the numbers. all that, and the chart master is here, with a industrial stock that's so good, it's bad the reveal just minutes away

i'm melissa lee, this is "fast money. and we begin with a developing story on the fight between disney's bob iger and florida governor ron desantis. disney ditching plans to build a new florida employee campus and not asking thousands of california-based employees to relocate to the sunshine state cnbc's julia boorstin is here on set with the latest on the story. >> well, this is all just gone down this afternoon. disney announcing that it is canceling plans to build a new campus in central florida. this was estimated to cost nearly $1 billion. disney is also no longer asking about 2,000 employees in its parks, experiences, and products division, which it had asked them to relocate to florida, to do so. disney parks chief announcing this in a memo we obtained this memo. he said this was due to new leadership and changing business conditions he also said that he, quote, remains optimistic about the direction of the disney world

business, and the plans that they already have to invest $17 billion to create 13,000 jobs over the next ten years. he said, quote, i hope we're able to do so. this comes amid disney's battle with florida governor ron desantis a disney's earnings call last week, bob iger reiterated his frustration with the state being anti-business. now, we reached out to governor desantis' office, they told us, quote, given the company's financial straits, falling market cap, and declining stock price, it is unsurprising that they would restructure their business operations and cancel unsuccessful ventures. now, just to fact check that a bit, disney did purchase that land and they did already move a few hundred people, now they're talking about moving them back but they didn't break ground on that $1 billion complex. >> yeah, obviously, desantis' office does not watch cnbc it feels like this is a moment where iger is sticking it to

desantis, saying, we've been playing this game, and we mean it we can pull things and you won't like it. >> well, that's the thing. they can't move disney world, but they can say, we're not going to move 2,000 employees all the way to florida and what was so interesting about this, when it was originally announced, is that there was a lot of backlash. people have their families and their lives in california, it's a big deal to move, so, this is a reversal of that plan and this is one of those levers he can pull >> so, it's interesting, you know, right now, this is a huge to-do and iger is probably getting it from all sides, but if i think back to a number of sort of big corporate issues like this, there was one when delta said, we can't give discounts to the nra anymore and georgia said, you know what, we're taking away your tax break and delta said, fine this is our values that we need. so, that was a $40 million tax break this is obviously bigger but we see it again and again, nike, when they did the colin kaepernick, and people burning shoes. nike seems to be doing absolutely fine. and then we saw it with north

carolina, with the nba saying, we got to move, and the nba seems to be doing just ine i don't think this will be a permanent issue -- >> right >> for disney, which is huge >> right, they do have other battles to face. >> sure do and look, cost reductions at disney are part of the story, i mean, that was the story it's really about where parks were fantastic, dtc was coming up short, we're worried about the second half on where some of the subs might not meet acceleration, at least for fiscal 4q. this is part of the soap opera, but this is part of the story at disney right now i think shareholders, first of all, disney is a stock that historically was a free cash flow generating company that was paying a dividend and that was part of the franchise, so, i -- you know, i think these are great headlines, headlines that are still going to play out, but i'm not -- this doesn't change disney as a stock, doesn't change it in terms of their business model >> streaming espn might have an impact, julia, and that news today, as well >> and there have been all these

headlines with disney moving forward to bring espn direct to consumers. bob iger has talked about this, he said it's an inevitability, but you have to be careful about the timing and the pricing and what it is you offer, and they have to work out the deals with the paid tv bundles, with all the cable providers, and also with the leagues, so, this is going to take awhile to figure out, but it seems like it will happen eventually. >> i remember at the code conference in september, bob iger was up there with kara swisher. >> back when he wasn't ceo >> right he hinted that this was the course in which it was going and i think for a host of reasons, it makes sense that he's here to usher in this massive sort of change and one other point, you're going to look at the charts here, the stock is trading right back at where it was when bob iger was announced to be the ceo. you think of all the volatility we've seen in the market, especially in the media names, they're probably putting their flag in the ground in the right spots right now, under the new

old ceo to make some of these transformative changes >> speaking of the chart, yeah, sometimes, right, you can just leave something alone. we know it had a heavy volume drop in gap in response to its earns. 60 million shares worth, and typically, a rerating like that is not something to embrace. just stay away >> all right, julia, thank you, great to see you here in person. >> so great to be on-set >> let's bring in for more on this story, jim stewart. jim is "the new york times" columnist knownwriting the book "disney wars. >> good to see you >> what do you make of this whole thing? it's desantis' move next, right? >> yeah, i mean, disney just escalated this battle in a pretty significant way i mean, it pretty much -- i think it's political theater, but now we're talking real money, we're talking real people's lives, not pushing forward with this big expansion in florida , they're sending a message to the rest of corporate

america that we do not see this as a state that is pro-business and friendly and a place where we want to expand. i mean, it's not going to cost disney, you know, save a little money in the short-term, but it was one of chapek's cost-saving measures to get these people out of california into lower cost florida. the imagine pers were mad about this, but there weren't that many of them the other thousands of employees and the billion in investment is not going. so, this is going to hurt florida. i've said all along, desantis and disney have every reason to align their interests. and yet, they're pursuing this apparently ever hotter war against each other, and you know, like you said, it's desantis' move next. is he going to call a truce here or evensomething more self-destructive going to happen >> what do you make of the move, or the potential move, to offer espn as a stand alone streaming service? >> well, i think this is a

watershed moment in the history of broadcast, of streaming emerging i mean, disney has been modeling a streaming model for espn for many years now but there's -- i don't think people thought it would happen quite this fast, because the cable model for espn -- espn is getting close to $10 a subscriber when the average cable channel is getting 50 cents. i mean, it was the most powerful profit draw ever, business model that i've ever encountered but it's eroding fast. and i think the earnings last week made that very clear. didn't get that much attention, but with that linear profit, the linear broadcasting profit going down, mostly espn, and that was down 35%, i mean, it was kind of going down single digits for awhile, creeping up more, that's a sudden plunge. so, they've been modeling these, the cost of the sports rights, the revenues they're getting from the cable subscribers

against what they could potentially get through streaming and those lines are now starting to cross. and i think that's why we're seeing a renewed effort to move to streaming >> you said this is a major moment in broadcasting, because sports had traditionally been the one thing you would never drop cable for, you got to watch it on tv, and there are other types of programming and channels that have the same sort of thing, sports and the stock market is really what i'm thinking of, i'm just wondering, what does this open the doors for? if disney is going this route, what else could happen >> well, i think it is -- it's the death nel for the cable model. i think the cable model was incredibly lucrative for many years, and that's really going to be over and, you know, sports, i think you're right, finances, business, is another key draw for cable, but sports is number one. and the streaming services, the rival ones, have figured this out. and they've just -- they've realized that this is the way to

lock in subscribers and to prevent churn, so, these bidding wars are now breaking out. we just saw, you know, parent nbc make a big build for nfl presence last week and apple's talking about it even netflix, which said they would never go into sports, is apparently scrutinizing that and thinking about it, amazon is moving in there. so, espn does not have this field to itself anymore, and these costs are going to go up very dramatically, because they are must-see destination tv that if you're a sports fan, you got to have it and you can't just cut it it's t >> jim, thank you for joining us james stewart of "the new york times. netflix shares bringing the heat and rallying 10%, having their best day since october in an upfront presentation, they say it's ad-supported tiers nearly 5 million global monthly active users over the last year, the stock, by the way, has doubled.

dan, what do you think of this move >> funny i think all of us on this desk were fairly constructive when they the that about-face on adding this advertising model. if they were going to see the churn they were seeing the competition they were seeing, it made sense to do this. when you think of the margin that advertising could add, it made sense, especially with all the focus we've had for ten years on the free cash flow or the negative free cash flow it took to create all of the original content so, today is kind of pay back in some ways for that, i think probably the trade gets harder from here, as they probably, you know, they have very easy comparisons right now. and the valuation looks kind of r reasonable i know you've been in and out of the name over the last year or so it gets harder up here at the 52-week highs. >> well, it does, except for the fact that, are you starting to pay a growth multiple for the company? whatever that means today. but if you pay 26 times the 14 bucks a chershare, it's right a

where the stock is what's key, analysts are able to do, well, 5 million unpaid is equal to 2.5 million on the former metric. and so, you're getting that sub growth there's no denying that netflix is the only streaming company that has free cash flow. there's no denying, and this is a quote, i'm quoting from jpmorgan, who is quoting nielsen, basically, netflix has the engagement of three times all the other competitors combined in '22. and they're closest competitor, they're five times the engagement so, they're so far ahead, the fact they're showing growth again, you should be paying up for the one that's making money. >> does this mean that the others are really losing 5 million monthly active users are out there for netflix's ad-supported tier, what does that mean for the others >> we've seen growth stall, right? i think that -- i don't know when the reckoning is coming, but it has to be somewhat soon, when you've got, you know, i

don't know, half a dozen all vying for, if it's sports or whatever, so -- and netflix is clearly, clearly in the pole position, has been for a long period of time that being said, stock up $16 billion today-ish on -- i don't know exactly what the math means for this they didn't really go through it, we just know that it's an ad-supported tier, we don't know what the ad revenue is and we don't know what kind of cannibalization that is. your point, dan, it's a lot of things that were priced in today. today was the daley for whatever the reason i'm long, but i'm nervous. >> i mean, if you think about it, it's the equal and circumstance of disney disney is making relative lows to the market back to '09. i mean, it's a disaster. this is momentum, it's bullish price, all it's done is return to its february high still off 50% from its all-time high i think it's an example of a bearish to bullish reversal. >> how does that make you feel about disney versus netflix,

tim? >> i'm long both >> both. >> and i -- look, i feel pretty comfortable owning disney here i feel comfortable that disney is on a place to, the cost rationalization that will get this company back to some reasons why i think a lot of people will hold it. the profitability on streaming is something, it's a big question but i think they will slowly fall in line, as well. took netflix a long time we started to hear from warner brothers discovery they are maybe going to be there -- i started nibbling on that, just to be clear, so -- i don't love disney, i don't like what's going on, but they're a different company. they are a company with great assets and a lot of levers to pull in this whole espn dynamic is something, if anything, it's only a positive catalyst we know linear tv is dead, and that's been well priced. >> v. coming up, earnings action on deck. shares of ross stores on the move after reporting results the numbers next. and speaking of retail, walmart out with an earnings beat, but flagging a major issue facing consumers what you need to know, when "fast money" returns

(fabric rip) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. find your cfp® professional at letsmakeaplan.org.

welcome back to "fast money. earnings alert on ross stores. a mixed report, ewith weaker

guidance for the current quarter and full year. courtney reagan is here to break that cown. >> hi, melissa the retailer did report comparable sales in line with expectations up about a percent, but predicts it won't see growth in the current quarter sales improved throughout the quarter, with april actually the strongest month. that's the opposite of what walmart saw when you're talking about the kay dance in the quarter. ceo barbara rentler says there remains a high level of uncertainty in today's macro economic and geopolitical environments in addition prolonged innation their pressures continue to stop discretionary spend. apparel was challenged transactions were up, but average unit retail was down, as shoppers sought out the best bargains at ross stores. on the call, ross executives said bed bath & beyond will open up store rlocation possibilities

very different from what we heard from target. >> the average consumer different from the tjx shopper >> i would say ross stores consumer is slightly louner income and they have a banner called dd discounts, which skews even slightly lower income so, they're a little bit different than a lot of the tjx shoppers, which is, of course, the tjmaxx, marshalls and home goods. but it is that off-price category retailer. >> court, thank you. courtney reagan. karen, put this together with the walmart results? >> very consistent the consumer is still there, they do have money to spend, they seem to be a little bit cautious though ross stores, it sounds like maybe a little sandbagging there, because target talked about may not really being much better than april and march was bad, so -- but we're seeing this sort of tradedown value-oriented, which, when you're walmart and you have that scale and you have that offering of groceries, you can do it.

so, the consumer's still there i'd like to see us get out of what happened in march it will be next quarter before we really get a sense, i think, of -- is the debt ceiling issue solved do people feel better about banks? do they feel better about the fed and they'rre not being a recession? i think the consumer is still there, but definitely more, you know, this is better for walmart than, i think, it is for target. >> the extreme moves within consumer continue. we know home builders are at record highs restaurant stocks in general look at the reaction from target, home depot, terrible it's not a good space to be. you want to favor other areas in the market >> and i figured you would say this chart has done nothing in two years. >> yeah. >> and i love walmart. i'm long walmart but i acknowledge that there's a lot of great news. i would push back on the people that said this is all grocery, what's the big deal? the consumer might be dead it's not hooray consumer -- well -- they're managing this

margin mix and imagining the mix and how that translates to margin a lot better than people are expecting them to and i realize part of the benefit here, they've lapped really difficult freight comps. but i think, you know, walmart smangment, as they were beaten up heavily a couple quarters, about five quarters ago, deserves a lot of credit and again, nobody can push people around in terms of pricing more than walmart can, all the way through their chain. so, i mean, i think it's still a great place to be, i'm very happy owning the stock i don't own it because it's a high growth company. >> to weather the next phase of the economy, whatever it may be, it is going to be soft how soft is the question do you want to be in a walmart or in a mcdonald's i mean, what sort of -- >> walmart over mcdonald's >> what staple do you want to be exposed to >> walmart, yeah, and amazon >> amazon? >> right you obviously have the tail wagging the dog with aws, but amazon >> yeah. >> tim >> i think it's -- i like the

call on amazon i'm sure carter's got a view on that chart, which has been breaking out to all kinds of fun stuff, but i'm -- mcdonald's, be careful. i've been long i like the story, but i've been selling calls and slowly that position is almost flat now. similar to walmart walmart over mcdonald's. >> agreed. mcdonald's is rich, full, steep, whatever word you want to use. >> so good it's bad? >> later in the show >> later in the show >> something that's been terrible, it's now emerging. >> yeah. >> terrible but emerging dan, can you get onboard of that >> a bearish to bullish reversal i've been following his work for 15 years now the amazon thing is interesting. it's interesting that's where you went to. that was just, like, you snuck that in there -- >> that's okay, karen. >> would you rather rather >> yeah, but it's interesting you went there, because we spent so much time talking about the valuation of this company, how it's been associated with the high growth margin aspects of

this in some point in a market like this, that might start to appreciate that tough, you start to get a little more valuation support there. coming up, shares of materials, the stock is on the move after reporting results bring you the numbers next zbl plus, negative sentiment dragging on bio tech, but our next guest says the group could be about to turn around. the names he sees leading the pack ahead you're watching "fast money. back right after this. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term

policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. welcome back to "fast money. earnings alert on applied materials. shares in the red despite a beat on the top and bottom.

let's get details with kristina. >> unlike other u.s. chip equipment supplies, we saw the drop in demand from memory chips. it's been the -- i guess the saving grace for applied with t materials, saying that the memory market is weak and tracking at its lowest level in more than a decade though the company didn't pride a full-year outlook, they said that q-3 guidance did -- their estimates beat what was out there with the ceo pointing to demand from clean energy, electric vehicles and industrial a a a automation japan, europe, and the united states is going to help them their backlog of inventory would still remain elevated as customers delay orders shares are down almost 1.6%. >> thank you, kristina

you know, for a stock that's moved about 12% for the week, it hit a 52-week high in today's session, it was up more than 3% today. that's not bad, dan. >> not bad and trades at a market multiple. but here's the problem for earnings and sales this year, flat to down, like low single digits next year, so -- maybe that multiple is not appropriate, but there was a comment in the release that i thought was really interesting, our longer term outlook is very positive on semiconductors becoming larger and more important market globally and major technology inflection points so, that's the a.i., right? but strategically important, that's speaking to the fact they make the machines that make the semiconductors so, if you are going to be reshoring away from some of these maybe dangerous spots, they should benefit from that. to the point, it's discounting any good news expected in this quarter. >> and if you look at the move in semiconductors where they are getting 70% of revenues, you see what's going on here

digital, i mean, display is still small point and that's nothing good going on there. i think -- they have a couple things that are exciting, not only just because they are exposed to semis and the kind of growth that's largely being priced in there, but they do have a growing services business that i think is part of why the multiple is allowed to be a little bit higher. >> the stock up 3% today, carter >> well -- you've got one big player there doing funny things. but that's a different subject >> that's all you're going to say? >> well -- you either are a buyer or sell er er of nvidia h and that's going to determine people's portions. >> are you still a seller of nvidia >> a portion of my dwindling fortune over the last month, and i haven't cracked a smile about it, because, you know, this is one that when the stock was 264, okay, a few weeks ago, i started shorting really painful to me, but on a day like today, to see the stock up 5%, it barely had a down tick it feels like by the time they report next wednesday, i think

it's wednesday the 24th, this stock is probably going to be back at its prior all-time highs. and again, this stock has had huge swings around data center, around crypto mining, around gaming, around all -- every major trend that we've wanted to focus on the last five years, they get credit, but then it gets punished a bit. i think it probably encapsulates a lot of the excitement in and around a.i., at least if you are playing the picks and shovels and this is probably that play. coming up, bath, body, and bold why these two stocks are heading in different directions. the details next. and sticking with the b's, bio tech still struggling, but could there be a shift in the works? more on that when "fast money" returns. get your trades to go with the "fast money" podcast catch us any time, anywhere. follow today on your favorite podcasting app we're back right after this.

l, and a personalized plan ♪ to guide you through a changing world. ♪ you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

(funky electronic music) matching (narrator)escription. breathe in. jump in. strap in. live in. join in. thrive in. if you're all in, it's all in north carolina. ranked america's top state for business.

(funky electronic music) (narrator) invest in. believe in. move in. grow in. build in. thrive in. all in north carolina. ranked america's top state for business. welcome back to "fast money. stocks closing out in the green as investors continue to watch debt ceiling negotiations. the dow up 115, the nasdaq leading the gains up 1.5%.

shares of bath and body works jumping 11% on the back of a strong top and bottom line beat this morning the retailer raising full-year earnings guidance. but a gutter ball for bowlero. shares dropping 17% after posting a wider than expected loss that stock negative for the year let's turn now to the bio tech seconder to. the xbi under pressure this week after the ftc moved to block amgen's acquisition of horizon therapeutics our next guest says a crackdown would be disastrous for a sector that is just getting back on its feet jared holtz is here at the nasdaq market site great to have you with us. >> thank you >> so, what happens? because, you know, the xbi had jumped, thinking, oth, we're going to see deals, there's going to be targets. now what >> well, there are so many deals to be had here that's the bullish argument. this amgen/horizon is surery a

curveball. we've been talking about it all week i really don't think the government has a real great case here, when we've kind of looked at the detail. it's really around bundling volume discounts, which pretty much every corporation, every come conglomerate to some degree. is amgen a bad actor, maybe. it doesn't seem like there's anything to worry about here so, it's a little bit of an anomaly. does it crush m&a hopes, maybe, but i hope it gets worked out. >> let's say it gets blocked would that just mean the end of m&a across the board the whole point is to acquire new drugs and pipelines and to have some sort of efficiencies, consolidation, right >> well, the certain thing is on one hand, the government is saying, we're going to, you know, we're going to mettle around with the pricing dynamic, we're going to make sure that prices come down and that impacts the financial statements of all the large cap companies

then the other hand, they're saying, well, you can't go acquire assets, which are going to supplement or compliment the existing business. it seems unfair to poke them both ways, but we'll have to see. it would certainly be detrimental, i think, for this entire small and mid cap bio tech complex, if it were to be voted down but at the same time, it would be unprecedented, i think. >> i mean, it would seem like -- i don't don't know how -- there are companies that are sort of innovative, but it's not their expertise to convert from an innovative drug to a widely distributed, manufactured drug i -- i mean, that part doesn't make sense who else could buy them? how would they possibly do that? >> well, all the innovation is happening at the small and mid cap bio tech level the large cap pharma companies are marketing machines and so much of the actual drug discovery and innovation, what have you, is happening with, you know, within the xbi complex type of stocks and so you it just doesn't make

sense that you would disallow marketing companies that are actually providing access to the drugs from these drug development engines, like a horizon or hundreds of other names we could talk about. >> generally for the seconder to, as a strategist, it's been a one-way trade, to be underweight pharma and overweight managed care managed care has outperformed in ten years. do you think that trade continues or maybe time to back away from managed care >> well, i think it probably continues over the short-term, i mean, if this deal gets blocked, it is arguably worse for pharma than it is for bio tech, right because you are disabling the ability of all the companies in pharma to improve their businesses and pivot and acquire as sets that they're going to need later down the road so, i feel like if this amgen deal gets blocked, i would want to be short large cap pharma for sure >> it sounds like you thought maybe bio tech would pick up despite the troubled charts. even despite of the ftc move,

the doubts over pfizer on top of amgen/horizon, you say, go ahead with xbi, that trade >> i think so. it's dampened the day, for sure. i mentioned it earlier this week, this was definitely one of the variables at play. i feel like the negativity around bio tech has been so prevalent for so long and so many of the negatives in terms of the narrative are out there, that it's just -- it's time for the space to do better i do think other deals will happen, maybe this horizon deal, there's things about it that make it unique, but there's plenty more, you know, in this sector to choose from. >> jared, great to see you thank you so much for coming in. >> thank you >> jared holz. carter, going back to you, you called that chart god-like, so, do you agree with jared's call >> well, so, it's the most -- it doesn't care about currency, doesn't care about putin, doesn't care about tesla or nvidia it is, of course, overowned. the question is, does that group

manage care, which is literally triple the health care sector, continue now from -- i don't suspect it can and will. >> one of jared's points, i'm not going to guess -- he's talked about something like lilly as being, these names that have had such extreme outperformance even to the group. are names that you stay with, especially because they're obviously in the exciting, sexy areas of weight loss and alzheimer's, but that there's a dynamic here where truly, they are positioned for growth in a way that they kind of deserve these multiples. it's interesting, also, the way he refers to these big pharma companies really as just commercial marketing entities. if you watch enough tv, that's what it feels like but they really are massive, and, two days ago, pfizer came with $41 billion in new debt on a day when also you saw some treasury funding people attributed pfizer's deal pushing up treasury yields they're so big

and they're so able to really raise money that sometimes you do wonder if they're really drug companies. >> it's pretty fascinating though, and it seems to how confusing or difficult it is to navigate this market lilly is up 40% in just a matter of months because something that was on the horizon, you know, we know there is always these things out there, but it's gained, what, $150 billion in market cap, where pfizer, the other way, is down 35% since december, losing, what, $75 billion or something like that, so, it just shows you, like, it's starting to become a real stock picker's market out there. coming up, baba's bad day. china tech gets hit. the earnings and cloud pspin-off and throughout may, cnbc is celebrating asian american and pacific islander heritage. here's the ceo of olaplex. >> asians in general, we have this attitude of gratitude and that's because we took time, we took energy, we really want to be where we are, and with

that said, we feel like this is the right moment for us to not only see ourselves as value, but also help others in that space push yourself as hard as you can, and as far as you can, because regrets in life are never about failures, but about things you wanted to do and never did. lomita feed is 101 years old. when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. it's hard to run a business on your own. make it easier on yourself. with shopify, you can have everything you need to streamline your shipping, returns, and product storage, so you can focus on growing your business. because when we work together, the future is

bright. it doesn't have to be lonely at the top. join the millions at finding success on their own terms. start your journey with a free trial today.

welcome back to "fast money. ali baba falling over 5% missing expectations in the company's first full quarter since china has reopened after covid. also announcing plans to spin off its cloudy vision. tim, why this reaction >> well, i think the reaction should be that this -- there's a lot of potential on sum of the parts. i don't like to do that, because it usually doesn't work out and that's why people talk about sum of the parts but there's so much value to unlock we know why it's trapped and locked, but i think the gmv growth for their core business is going to grow in the second half of '23. i think people are underestimating china, and i think on valuation at ten times

on 24, you know, it's hardly expensive, as i've said over and over, you're not buying this on valuation. you're buying the view that actually it's hands off. and i mean the government's hands off. so, i kind of like things here and i'm curious to hear carter's view on the chart, because it's, you know -- >> it's a group thing. we know they're all attempting to buy them and it's not quite working and they're trying again. but you want to be exposed to the group. and my hunch is the lows are in and you want to add when you can. >> is this attracting you, karen? >> kind of i know, i know i mean, i was surprised -- >> good for getting out. i mean, at least at less painful levels >> right >> as i have not so -- >> well, i'll let you know if i get back in so you can expect more pain, but i think it was interesting. i guess the earnings were a little light tim said, this is not an earnings a little light, i mean -- that's not what this is about. it's about, do people believe that there can actually be a creation of value by spinning off some of these parts?

if they can, absolutely. there's huge upside. huge so, yeah, kind of interested sad to say >> all right, one trader is taking advantage of baba's bet mike khouw's got the action. hey, mike? >> yeah, so, baba was one of the busiest single stock options we saw today. calls outpacing puts by more than three to one. one of the bigger trade wes saw in any stock today was a purchase of 4,000 of the september 95 calls that's an outlay of $2.4 million, it gives them the right to buy $38 million worth of stock and it's beat that the stock could rise more than 17% by september expiration. >> yeah, mike, we already had a lot of chinese internet earnings out already, jd, as wells as baidu. what are we seeing in the rest of the group >> well, they did well in terms of their numbers, but no so well in terms of their price action we own baidu we had exposure to a lot of

other chinese stocks we've paired them. and i have a real interest getting back into some of these things, but it's very difficult, obviously, to do that with the punishment we've seen, but i think this may be a buying opportunity, which obviously some of the other people are saying, as well. >> all right, mike, thank you. mike khouw for more options action, tune into the full show tomorrow. coming up, the chart master has two names on his radar one blue chip flying too close to the son, and one cooler maker ready to thaw out. the names when "fast money" returns.

- double check that. eh, pretty good! (whistles) yeek. not cryin', are ya? let's tighten that. (fabric ripping) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. find your cfp® professional at letsmakeaplan.org.

welcome back here's a sneak peek at the kramer cam jim is chatting with the ceo of celsius holdings catch the full interview at the top of the hour on "mad money. we are back with a new spin on an old favorite so bad it's good, but before we reveal the name that could be an under the radar buy, the chart master has one for us that actually looks so good it's bad. carter, what are you looking at? >> you have to get your mind around that. what are we talking about? i mean, can something be just

steep? we know this, can something be expensive, or can something just be crowded on a sequencing basis, where it's gone up and up without any dips or corrections or pullbacks and general electric is that this is a stock that peaked some 20-plus years ago, a darling, of course, at one point, one of the most valuable companies in the world. and then it collapsed. big problems but it's now up from 48 to over 100, it's trading farther above its 150-day moving average at any point in about ten years and for my money, at a minimum, if you are long, you trim, or you sell calls or take measures before someone does it for you >> you've been taking measures >> i have been i'm a long-standing position that was very painful and it was definitely one of those get out of jail free dynamics, selling upside calls at 95 bucks, so, i've been called away. i was called today, it's now to in the middle of june.

i still think it might come back i'm with carter. i think this is another one of those names where they've gotten more credit for the sum of the parts and the spin-offs and i realize their aerospace business is a much clearer story to tell. i just think you've done a lot >> yeah, karen, what do you think of the story >> i remember this is, what, a seven to one split so, i can't help but think of this -- >> cheating. >> yeah. kind of. right? >> yeah. >> so, i mean, what a transformation, the business -- i think, you know, that is a huge job and he's been able to do it well, but -- i don't know, i just -- i don't have a position there i'll let that one go >> let's go back to the original flavor of this game, so bad it's good carter, what name do you have for us there >> we're going to look at yeti this was at great high flyer the chart, we know something that dropped 75% after basicallial five bagger, and has all the elements of a bottom

meaning it's basing and curing and healing and it has, from my point of view, asymmetrical upside >> how does it heal? >> like a person you go like this and it's called you're dead, or you start to con velless and you work through it and you relapse and then you heal and cure. same thing >> the amount of times, though, for the healing process on this one, hasn't really been that long it's only been a couple years. >> well, no, it bottomed in september, right, so, you know, we're six, eight months into it. >> okay. and that's long enough for the healing process? >> can i ask carter a uestion? >> of course >> you look at a chart like this, or any chart, how much, if at all, do you look at the balance sheet? >> no, no. i -- i -- >> don't tell me what to buy, tell me where to buy it. >> you can't get to sleep at night, people take medicine. if i can't sleep, i get out a q or a k

i haven't handled those documents for years. i never look at income statements, balance sheets, or any other consideration besides price. >> by the way, that's good trade school folks at home, if you have inin s insome insomnia, take out a 10-k >> the other so bad they're good, carter, going to give people a bonus round on this one. >> well, another high flyer that fell from grace, but also in this case, down almost 85% and often stocks do that and they go, like peloton and never come up for air. this one is also basing and bottoming and you have real asymmetry, upside potential versus downside. >> weren't you in that way back then >> god, your memory, harvard girl i -- yeti, i'm kind of partial to yeti. >> have you healed >> i guess i'm healing, i don't know i mean, i kind of do look at the balance sheet and i don't find it boring, but that's okay i want to understand your method

the ology. >> would you go into either? >> i tell you what, yeti is a name that at least i feel like i can understand why at some point it's overdone. if you look at the balance sheet and the earnings and actually, i have looked at it. it's not ridiculously expensive, which is why it got down to a place, at some point, valuations do matter in companies where you do know what they do so, yeah, yeti >> well, to his point, it's trade ging at next year 15 time. high single digit sales growth and i think during that steep ascent you talked about, it did not have val wagsuation support hold your thing up, karen? >> yes >> that's $35. they're beautiful, we love them. i don't know why we love them, but we love them >> they keep cold lick wilds cold and holt lick wilds hot >> they do >> the top leaks >> well, she bought -- they have the ones with a sippy cup.

>> 35 bucks, i don't want it to leak >> if you can get away with selling that thing for $35, you must be doing something -- >> have at it. >> stop drinking your coffee so aggressively up next, final trades. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪

[office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business. bmo. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley.

with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley ♪ this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪

a new development in the montana ban of tiktok for the whole state. now a number of tiktok creators have filed a lawsuit seeking to ban the law signed by the governor from taking effect. this was an interesting one. they wanted to ban the sale of the app, even through app stores, which i don't know how they do across state lines, dan. but is this -- i don't know. >> i feel like we keep saying this term political fear again and again. and how do you enforce a ban of an app that, like, every teenager in america already has on their smartphone? you know what i mean it seems really goofy. i just feel like we're going to be in this political goofy season for awhile. >> you don't see this as a prelude of tiktok being banned on a federal level >> i do, it had been -- >> a positive thing potential already for meta >> right it had been, i mean, everything seems to be a positive thing for meta these days, you know how cycles goes but it's interesting. seems like the momentum is

somewhat -- not soured, just lost, there was a bipartisan push, everybody was onboard and i don't note what happened the debt ceiling, maybe, and they got distracted. >> only do one thing at a time i don't know is that hope gone, do you think, that tiktok ban? >> i don't think so. and i'm not sure i like it, as a u.s. citizen on some level, i probably love it at a u.s. citizen. it's bizarre i feel like we are russia and china here with this, except for the fact that -- and i'm not sure what this app is telling us about our country or what it's divulging other than the inan things that people do and watch. i think it's absolutely on the table. china is a bipartisan opponent focus. >> all right, final trade time tim, back to you for that. >> well, let's go to china then. why not alibaba? i think spinning off the cloud business really is a catalyst that will unlock more value and i think the gmv is growing >> karen >> yeah, i'm right there with him. kweb thank you, krafrtecarter

>> yeti and generac. >> dan >> his chart of ge makes me want to sell. >> all right, thank you for watching "fast." right now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you a little money my job not just to entertain but to educate and teach call me at 1-800-743-cnbc. or tweet me @jimcramer whenever i'm out and about i connect with so many parents and children who watch this show