continue to perform well and we've seen some great prints from caterpillar, sherwin-williams, schlumberger, et cetera. >> all right, thank you for joining me here to wrap up the hour disney has turned positive, it's up 1.5%. the market, though, ended the day lower. that's it for "overtime. "fast money" begins right now. right now on "fast," disney is on the move just turning to the green. shares of the entertainment giant upping pricing, even as it loses streamingsubscribers what is next plus, a canary in the cole m coal mine. an $18 million company lost money over a warning of a.i. does this single trouble ahead plus, a big call on walmart just a few weeks before earnings i'm melissa lee, this is "fast money. we'll get to disney's results in just a moment. we start off with the potential

cracks forming in the a.i.-led rally. nvidia continued its decent today, dropping 5% the stock down over 11% from its all-time high hit less than a month ago. and yesterday, we got that warning from data dog, those shares fell another percent and a half today, the lowest close since mid-may. and there's super micro, shedding 23% the company warning about weak demand for its a.i. servers. the nasdaq closed below its 50-day moving average for the first time in five months. so, is this the canary in the coal mine? could there be more danger ahead? if we are to believe that a lot of gains were built on the promise of a.i., and now there are cracks, guy, should we be concerned? >> in terms of demand? the story's intact, without question the run in some of these stocks, we talked about it, i think that's clearly gotten ahead of itself and you couple with what super computer said, with taiwan semi couple weeks ago, then you start saying to yourself, hmm. obviously, it's an industry

that's coming around, it's not going anywhere, but a lot of pull forward has been done without question and a stock like super computer went from 100 to 300 in two months you give something back today, it makes sense but will it start to feed on itself you're going to start to see the same thing, i believe, in nvidia important company, but a company at 60 times toward earnings, 25, 26 times sales that's rich in any environment >> yeah, you were doing some -- some comparison -- >> right, interestingly, super micro, even with that big loss today, i think we have a chart of it, both the one-year and the five-year has outperformed nvidia nicely, particularly over the five years, which is kind of surprising to me so, it's -- they are a supplier to nvidia, nvidia's extremely important to super micro, a little less the other way around, but i mean, you know, when you're trading in a.i. pixie dust, kind of everything in the dust bowl is going down a.i. and -- so, it's not

surprising i do think to guy's point, did it get ahead of itself, probably we're going to have to wait to see what nvidia reports on august 23rd. i think that's really going to be big i still think we're sort of in the early innings here i did put on today a one by two call spread of 450, 500, that expires right after earnings did it for a tad over four bucks. make money between 454 and 546. that's a wide range. if it really goes berserk, then i'll be selling some of my stock, but that will probably be the options action kind of thing anyway >> 5:30 on fridays >> but i'm long the story. for sure i'm going to see this through. at least -- this -- reporting this quarter was good, right >> right, right. >> and that -- >> it's the guided >> the guided. i don't know what nvidia's guidance will be it has to be very big, otherwise

stock's going to continue to fall, but i think -- we're in a va vacuum, that, until we have something on the 23rd, i'm staying long >> and we're talking about a company that we really hardly ever talk about on this show data dog yesterday we led with that again, another company that we hardly ever talk about, but take a look at, for instance, the microsoft earnings guidance about monetizing a.i it was a longer projection in terms of when they were going to monetize than what an lists had been expecting and that's why that quarter was so disappointing. so, it's all of these things put together are you worried here about the rally? >> yeah, i think, if you think about a.i. broadly speaking, as a technology, it's still very vague, what the implications for it are every time i hear a ceo talking about it, it seems very hard to follow how it's going to help their business it's going to help their business, for sure they are all assuring mel of that but it's so vague. the only people who really talk

about it concretely are the writers on strike. the thing about a.i., unlike e-commerce, it's really hard to get people enthusiastic about it most people on the street are not, like, yes, i'm so excited about a.i., the way they are about e-commerce and, like, shopping for handbags to offset -- it doesn't have such a clear value proposition. i don't know anyone that's, like, gosh, i wish technology went faster. and i think a lot of companies feel that way, too they don't necessarily want to be investing in a.i. so, i think the underlining fundamental drivers of it are really vague, really unclear and gosh, things have gotten really expensive around it >> carter, how do you view all of these charts here >> well, of course, you get -- take the flavor of the day, smci, dropping like that is a simple function of one of two circumstances. extreme strength or extreme weakness meaning you get some of the biggest moves to the downside in a stock that's been going down and down, and then it pulls yet another mess-up, an enron, and

you plunge or you it's this circumstance. steep, steep uncorrected, and what comes out is not good enough to keep it going. but the real issue is this -- we're not getting the kind of follow-through from the ones that have popped google popped, didn't follow through. meta popped. netflix popped but the ones that have done the sort of the unhappy drop that's microsoft, apple, they've followed through the downside. and so, the nasdaq 100 now down more than 5%, one would have to assume that it's not going to stop here. >> all right, so, more downside ahead for the nasdaq, according to carter. let's get to disney. subscriber losses, restructuring costs continue to weigh on the entertainment giant, but the company is raising prices for ad-free disney+. julia boorstin has been listening in on the call what's the latest? >> reporter: well, as you mentioned, melissa, disney has adjusted earnings were a big beat, as the company has made progress with cost-cutting this is something that bob iger has been stressing on the call,

saying that disney is on tract to exceed its initial goal of $5.5 billion in savings and improved direct to consumer operating income by $1 billion over three quarters. this particular quarter, streaming losses were far less than anticipated on the call just now, iger announcing that ad-supported disney+, 3.3 million subscribers, saying he's very optimistic about the long-term potential of advertising in these streaming services with that, iger announced they are expanding ad-supported disney+ more internationally, they are going to be launching a new combo of ad-free disney+ with an ad-free hulu in september for $20 and perhaps most important, they are hiking prices of the ad-free streamening app, in particular, disney+ is going to $14 from $11, hulu to $18 from $15. the ad-supported versions are going to stay flat now, iger saying also that they

are looking at a crackdown on account sharing, sounds a little familiar, with what netflix did, and they will roll out tactics to drive monetization sometime next year. he also said plans to take espn direct to consumer, it's not a matter of if but when, noting that ratings on espn's linear networks have increased even as cord cutting has accelerated they noted that domestic sports ad revenue is up 10% disney shares up 4%. melissa? >> no word yet on espn bet >> no, they were just talking about it as being part of the broader strategy the call is still ongoing, though, so, i'm going to jump back on and see if they have anything to say. but they are still looking for partners, they are looking at taking disney+ direct to consumer seems like the betting partnership does not preclude them from doing anything else around monetization here >> all right, julia, thank you julia boorstin in los angeles for us looks like they took a little playbook out of netflix -- >> netflix >> in terms of the price hikes

and cracking down on password sharing. >> all right, so, let's talk about the stock, because there's a lot for bears to like in this, a lot for bulls to like. free cash flow, good the net ads were disaster, but maybe this restructuring plan is starting to get some teeth and maybe they finally have troughed this is what i'll say, carter will probably back me up the fact we traded down to and seemingly have held levels we made in the woes of covid in march of 2020, that's encouraging. and again, not great news, but great price action is something you want to see if you are about to make a bottom in a stock, so, we might have -- if we open here tomorrow, and there's obviously a long time before that, this 91, 91 1/2 level, we are through a downtrend line that's been in tact for quite some time i sont don't want to make a hug deal but bad news price action, that's what you want to see. >> carter? >> that's right. you have both reactions here in the immediate aftermath. initially down, now up a bit but the key takeaway, it's not

up enough, at this point, while that can change, to really set an important kind of low my hunch is, and we did a poll, interestingly, institutional clients much less sanguine than retail individual clients. they, in fact, were looking for an up move institutional, in general, looking for a down move. but here we are, up, but fairly muted. i think this is the kind of thing that you just leave it alone. >> all right julie, what are some outstanding quells in your mind still about disney >> you know, i think understanding how they're going to do it all, right? how am i going to cult kt costs, raise prices, and still have enough good quality content that you can continue to drive the business forward and, you know, drive the shareholder price forward. it cannot just rest on the laurels of the parks there are limits to what the parks can do for this business and i think until there are concrete answers to that, it's going to be really hard to get super enthusiastic here. >> yeah. karen? >> well, we were talking about this in the green room before.

you know, that iger/faber interview, which was so good, he really talked down that stock pretty decisively, i think, so, i'm sort of wondering, is it a sell the rumor, which is waiting for this terrible quarter, and then buy the news, which is, okay, wasn't all bad, you know, the subscriber wasn't good, but -- i mean, that -- the bottom line accretion, when you raise prices by, what is it, 20 some odd percent, you are probably going to lose some subscribers, but that's going to be a net positive. if you have the product to do it, that's going to be good. so, i don't know if this is enough to stem the tide, but i would start to look at it here >> or maybe you lose some subscribers to the paid version, but they migrate lower to the ad-supported version, where you don't lose them completely >> and you have the ad revenue >> if they had not introduced price increases in this quarter, if they did not see they were

going to crack down on password sharing, would we see the stock up 4%? >> you would have seen it where it was 40 minutes ago, which was 84 1/2, 85 so, that turned the tables for sure, and -- listen, we were talking about this again, we had this conversation, this is not a broken business, this is just a flawed business, they can turn it around, absolutely. and, you know, this is when you start to see bottoms being made. when you get a quarter like this, it wasn't great, but the price action is, we'll come back in a couple weeks, you know, mark my words, if this holds here tonight, we'll come back in three weeks, four weeks, say, remember that earnings release traded lower in the afterhours and it -- that was a sign. >> all right, for more on disney's report, let's bring in tom rogers, he's currently the newsweek editor at large and the first nbc cable president. tom, always great to see you >> thanks for having me. >> what did you make of this quarter? and is it worth 4% of the stock, the, you know, the hike in fees and also the crackdown on password sharing

>> well, there's much more to be skeptical about, i think, than to be excited about, and, look, the linear business is clearly in decline 7% revenue decline leading to a 23% operating income decline is obviously not good you have a stalled streaming business they're not growing subs, yes, they have lowered losses, but most of those losses are over the backs of disney+, which will probably lose close to $2 billion this year. advertising on streaming, which should be a really positive element for them, something iger talked a lot about in the cnbc interview, as a major important ingredient of streaming success, disney+ advertising down, hulu advertising down and hulu advertising per sub for the first time in about five quarters was up. and the only way that can happen, if you have hulu advertising declining, is to

have a -- a situation where your number of advertising subs, people taking advertising on the hulu services, down, which is not a good thing and disney world was down, consumer product is down it's a good day to be talking about gambling, i think. >> yeah, tom, not surprisingly, you did a masterful job over the years talking about disney comes as no surprise to any of us here, nor our viewers, they know that tom is what -- melissa? >> you say it. >> a stud. >> it would be cooler if melissa said it. >> can't get everything in life. this penn gaming/espn deal, late to the dance, but everybody is talking about it today does this even move the needle at this point? >> look, it's a contribution, all contributions, when you need cash and an answer to a declining linear business are a good thing but just to put this $150 million a year in licensing fees on the gambling side i

is worth $150 per year so, this makes up for the loss of about a million subs. now, espn over the next te years is going to lose 10, 15, 20 million subs, just to put in context how much of a contribution toward filling that hole in the bucket it is more importantly, look, we've seen media brands try to drive sports gambling business fubo failed at it, bally's, with the regional sports networks could not make a difference there, as they go into bankruptcy, obviously barstool with penn didn't help. and fox, a great sports brand, just discontinued fox bet. so, there's a lot here that you can be skeptical about, as to whether espn paired with penn, which only has about 2% of the gambling market against the combined fan duel/draft kings,

75% of the market, whether it's really going to make a difference off the back of that, particularly when espn is going to continue to take advertising from other gambling players, so -- how much 0 a diof a diffe is this going to make? >> tom, we have maybe a minute left how would you rank abc as a problem on bob iger's list and what can he do with that asset? >> well, abc is an issue, because it's very hard to imagine how to separate abc from espn, which they plan to keep. given the importance of the broadcast network in terms of major sports packages. it's also hard to see how to maintain what hulu is in the absence of abc and the cable networks and so much of hulu's programming is a function of the programming on those networks. i will say, he's got kevin mayer

back, which is a really good thing. it's great that he and milted bob chapek was a mistake bringing kevin back further admits that mistake. this is a company that has to transact, and it's a company that has to figure out its major issues probably no better around to handle both of those so, if there's an answer for abc, i assume kevin will find it >> tom, great to speak with you. always great to get your thoughts, since you are, as guy called you, a stud >> there you go. >> you said it much better coming from you. >> for you tom, thanks. tom rogers >> thanks. >> karen, we were talking about that abc, like, what do you do it's so entrenched in the business >> it's so entrenched, and, you know, the headwinds that the business faces, who would want to buy it? >> right >> i don't know. that's interesting, does this make kevin mayer the, you know, the anointed one when ultimately bob iger does step down?

i don't know >> seems like they have no other candidates >> but -- i don't know, i just -- it's -- when we were talking about it, it hit over 200 you just slightly over 200 during the pandemic, when streaming was seen as so valuable, and money was free then, and they didn't have the disney debt that they have now, so, a lot of things were different. but i mean, 50% plus off since -- that's sort of intriguing for me for an iconic name worth a look. coming up, wynn is on the move in the afterhours shares are up almost 3% after delivering results we'll bring you the details out of the quarter next. plus, carvana enlightening investors with guidance. should you namaste in this name? we'll debate that when "fast money" returns they collect hundreds of data points like hrv and rem sleep,

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welcome back to "fast money. earnings alert on wynn resorts a beat on the top and bottom lines. the casino operator seeing continued strength in north america and a huge boost to operating levels in macao.

contessa >> craig billings kicked off the call with an enthusiastic "what a quarter" after a beat on the top and bottom lines strength coming from north america, with las vegas and boston generating a new second quarter record for adjusted property ebidta. rook b room bookings, group rates trending upward. wynn seeing strength in macao and the mass gaming market, luxury retail, their hotel business, billings says that v.i.p. volumes are still surprisingly good there, though there's been a dramatic decline in the junket business customers are spending more in macao, but their length of stay has decreased. and when it comes to the luxury consumer, so far, so good. billings says consumers seem more than willing to keep spending on the nicer things in life billings says they are looking ahead to the big vegas f-1 race in november, and, of course,

super bowl in february, where already wynn, as well as other properties up and down the las vegas strip, melissa, are seeing premium. >> contessa, thank you contessa brewer. up 2.4%, guy >> should be i don't know what's going on in boston, they did $221 million there. las vegas does almost $600 million in the quarter, so -- i don't know if folks in boston, they have hobbies, clearly, at the roulette table good for them. this was a huge beat stocks should be higher than this, because it's sold off recently on the back of concerns of a slowing china, i get it valuation is still compelling, so, i think wynn continues to go higher >> carter, what do you see in the chart? >> yeah, fairly muted response, to guy's point i would point out, no pun intended, this is a gambling chip the stock peaked in 2014, it was $250 a share here we are at $100, down 60%, down 70% adjusted for inflation. you got to catch it for a trade. i think their trade has already

come and gone. news-related pop today, but so what >> everybody wants to travel, everybody wants to pay for experiences, julie marriott, airbnb, does it fall in the same category in your view >> yeah, i do. and i think for just those reasons, it has the same level of risk as those kinds of names. you know, for the time being, everyone is super thrilled to be spending on services if i see one more taylor swift concert picture, i'm going to throw myself out this window, good-bye but you know, so, i think that's definitely been the underlying trend, but whether that continues, i'm less certain, because i don't think that we continue to have just endless amounts of consumer spend on these kinds of experiences i think this was really the summer of love, everyones have a great time >> trillion dollars in credit card debt in total for the u.s. consumer. >> yeah. i saw you talking about it this morning. that's a little scary. student loan repayment >> scary that you watched it >> because you were on it. i was flipping around.

and i said, i know -- that's melissa lee and i stuck around >> kind of funny, oh, yeah, i know her i'll watch >> i mean, any concern about the consumer would hit -- >> well, we saw some great travel news and then we saw some really not great travel news >> exactly >> so i -- i think to julie's point, maybe that is peaking so -- i -- i think some of the international travel is still there, which is, we talked about, great for more business-related airlines, but for southwest and -- >> jetblue, yeah >> but since you brought up debt, i mean, think about this the consumer is combatting inflation with -- by adding debt to the balance sheet that doesn't end well. and that's something we've been talking about for awhile here, so, stay tuned, sports fans. there is a lot more "fast money" to come here's what's coming up next. cash karma carvana boosting its profit forecast but shares seem to be stuck in reverse. we're driving into the details next

plus, new restrictions on investing in china how president biden's latest executive order could change the game for companies trying to raise capital. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this.

welcome back to "fast money. stocks dropping ahead of tomorrow's cpi report. the dow falling nearly 200 points the nasdaq leading the losses, down more than 1% on pace for its second negative week in a row. and check out carvana today. shares initially jumping after the company boosted its profit forecast, but quickly reversing and closing the day with a 6% loss

the used car retailer up 800% this year. meantime, a few other afterhours movers the trade desk falling, while sonos jumping. karen, quickly on carvana? >> completely, you know, detached from fundamentals of any sort -- >> except for today. >> well, that's a good point yeah, they did up their adjusted, which i think it adjusts for all the things that would make it bad, i think -- they pulled that out and the numbers looked very good i think this per unit, you know, wasn't as good as it seemed, they were selling loans with that, so, you know -- good for them, they managed to get this stock, or, with the meme community working together, i'm not really sure how. if they can issue shares now, they can pay off their near-term debt and they stay alive so, good for them. coming up, new data out of china showing inflation at more than two-year lows what it says about growth in the country and how it could impact investments overseas.

and options traders eyeing the tech etf for a move. we'll talk about that when "fast money" returns. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time.

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welcome back news out of d.c. in the past hour president biden signing an executive order to restrict american investment in chinese company. eamon javers has all the details. >> the biden administration is announcing a much more narrow than expected set of proposed rules around investment in china today, in an executive order, the president is directing treasury to propose new rules regulating u.s. investment in three technology sectors in china. kwan cquantum computing, semicondsemiconducto s, and artificial intelligence there's not going to be new restrictions outside of those high tech sectors. and that's what makes this more narrow than many had expected, as some on wall street feared restrictions could be coming on a much broader array on investment categories. senior officials also said they're considering exemptions

for publicly traded companies in china, which narrows today's move even further. the reason for that, they say, is the white house recognizing that the chinese already have access to a lot of money what they don't have, the white house says, is know-how, and it's the intangible benefit that come along with those private investments that can transfer that kind of know-how such as introductions to key experts, partnering with portfolio companies, that kind of thing. and while they were careful to say they can't predict chinese reaction to today's move, they also revealed the treasury secretary janet yellen briefed chinese counterparts on this move when chef was in china back in july, so, beijing has had some notice that this would be coming the new rules will go through the treasury department normal regulatory process, so, they won't take effect for some time now. and it's worth noting the choreography here, which is always intentional with the white house. we're not going to see president biden doing a big signing

ceremony here today. he was in new mexico earlier giving a speech about the economy, didn't really mention this thing and he's now en route to utah, so, this is not one that the biden administration is putting front and center, at least on your television screen >> can you go back to what you're saying about investment in public companies? because i would think that an easy way to get around this is for a company, even if they have no product on the market yet, to go public anywhere in the world, doesn't have to be in the united states and then u.s. firms can just make significant investments and do the same exact thing that they would do if they were to invest as a private equity company. >> yeah. so, a couple things that senior administration officials said today in a call with reporters one is that they're going to come up with a bunch of rules to try to stop that kind of workaround for example, using a foreign subsidiary to do the investment for you. they're going to try to create a lot of rules around this to ring fence that kind of thing

but they said specifically that when it comes to public companies in china, the idea here is that a passive investment in a public company, buying shares in a company, doesn't transfer the kind of know-how that a private equity investment does when you talk about, you know, helping install people on the board of directors and introducing them to your other portfolio companies, introductions to top scientists in the u.s., all that kind of thing, comes along with a substantial private investment that's why they're less concerned about the transfer of money than they are about the transfer of sort of economic and technical no-how >> and last question, is this mostly a formality i would think that most investment in the united states is basically not gone to zero, but really, ground to almost a halt just because of the uncertainty surrounding this issue. >> yeah, that's absolutely right. we have seen foreign direct investment into china dial way back since before the pandemic, right? so, that is, in some ways, is a problem that's taking care of

itself, if you view that as a problem, but what officials said today is that even just by discussing, and this -- this announcement today was telegraphed for months, right? a lot of conversation that this was coming for a long period of time they said that even by discussing this publicly, that this was a possibility, they feel that people in the marketplace have already started to change their behaviors, so, this kind of investment is already being taken off the table by people who are in the venture capital and private equity industries. so -- in some ways, this is coming, you know, cart and horse kind of thing, where the investments are already going down, even as the administration is now putting in place the process to now regulate that kind of investment. >> eamon, thank you. >> you bet >> eamon javers at the white house for us well, we knew this was coming for a long time, beijing knew it was coming, but still, this is -- still, another reason for these tensions to remain rough and for beijing to retaliate, if

it chose to. >> 100%. and listen, my concern -- it's come to fruition in terms of what's happening, but it's not man any festing itself in the stock market i'm actually sort of surprised there have been comments by a lot of people out there talking about potential, the catastrophic impact of a china, beijing. over the weekend, last week, china, russia, joint exercises off the coast of alaska. 11 warships. unprecedented stuff. the rhetoric is being racheted up, and you just have to wonder when apple, the crosshairs for apple or starbucks or nike, mcdonald's, any of those multinationals, then it gets real in terms of what we talk about every night. meantime, china's consumer price index falling into negative territory for the first time in 28 months on a year over year basis the inflation measure fell 0.3% from a year ago. for more, let's bring in the managing director of china beige good international

great to have you with us. let's first deal with the executive order, since that's the newer news here. you see this as, i don't know, a big change and will it redirect investment away from china, or is this a formality? >> no, i don't think is a big change to be very honest, this is an investment restriction executive order in name only rather than creating a mechanism through which outbound investment could be screened and restricts, a reverse as was expected at the onset two years ago, what you're really getting is a review mechanism. and even though the rule-making hasn't begun, there are so many loopholes within this thing, that i don't think it's going to change investment decisions as dramatically they kind of will be on their own tracks, coming, of course, we're talking about, the private market, the pe firms, the venture capital firms. doesn't even effect the public market

>> let's shift now to the data that we got overnight out of china. do you think this shows -- there are a lot of ways to explain the decline, one was sharp decline, in particular, in pork prices, because of heavy rains that impacted pig supply and pork supply so, do you think china's actuallyinto deflation or is it too early to say? >> you know, for -- through the course of this year, you know, we certainly have seen several instances where there's, you know, some amount of disinflation present in the numbers as it is now, for economists, this year has been incredibly torturous from a year on year comparison, just given the on again, off again switch that the economy was on last year but i think there are a couple of things worth pointing out there's no doubt that demand has been a lot softer this year than anything anticipated and it's very clear there's been a severe pull-back on a lot of

spending on retail goods and so forth, which clearly is factoring into the limited pricing power of companies >> do you think that we are in for bigger stimulus from beijing? >> i don't i think beijing still sees the 5% growth target as achievable the view is that only some amount of fiscal stimulus might be needed. targeted support to the property market is being provided and the cumulative effect of these small measures will be hitting that growth target this is not the year we see big bank stimulus rolling out, if we ever do. i don't think policy makers in china are nearly as panicked about the recovery this year as folks on the street are, just because of the wily unrealistic expectations they had at the beginning of the year. >> great to speak with you, thank you. how we factor this in, julie, to our outlooks for companies operating in china >> i -- i think some people have

and i think some people haven't. i think the bigger factor to think about is, if we're thinking that inflation is going to start coming back up, it's actually maybe a positive thing that, you know, the economy in china is not as strong as people would have thought, because it will put upward pressure on a lot of commodities prices. so, i think in his heart, jerome powell is hoping things stay soft over there. let's look at how options traders are positioning themselves chris has all the action in kweb >> hey, so, yeah, what's interesting, cpi and ppi fell in china, and this will help continue the narrative that there will be governmental stimulus that will support the economy. so, in the options market, we saw most participants placing bullish bets in the middle of the term structure, which is generally three to six months out. we saw a lot of scattered buying in kweb, and most of the activity today was on the november 33 call

the calls outpaced the puts by a ratio of 4 to 1, and to give viewers a comparable relationship, if you look at the floating strike terms, three-month 10% out the money call on spx is trading at a ten-ball, where kweb is trading at 43. so, quite high there overall, this feels like more so retail participation, or rias. the more sophisticated shops will have their exposure in a more complicated manner. but no doubt, people are buying china, making a higher move in the options market >> chris, thank you. for more options action, tune into the full show, friday, 5:30 p.m. eastern time. coming up, price check in aisle three. walmart shares hitting an all-time high today. what is behind this bump can it keep going into earnings? the trade is next. and later, it's so good, it's -- blank. the chart master has some hot takes on some recently hot stocks how he's pyi tlanghe names

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well come back to "fast money. call of the day on walmart

earnings report next week. bank of america arguing the retailer has the upper hand in price sensitive category like grocery. wall smart shares hitting a record high and closing just shy of $161. i mean, we were talking about the strains of the consumer, and that's basically the reasons behind this price target increase, karen. >> yeah, you know, it's a bold move to make a prediction like this in front of earnings. you know, i like walmart, i'm long walmart, it's performed much better than target, which i also sadly own it's getting to the upper -- the upper edges of the pe multiple, i think, so -- i wouldn't be adding to it here. but they've done a great job i mean, they don't get anywhere near a -- well, who knows who an amazon retail is, because it's o overshadowed by aws. >> 24 times next year's -- >> little higher >> karen is probably right

starting to get to nose bleed level. buff you have to admire the call ahead of earnings. given the run that the stock has had, that's a ballsy call. it's a valuation thing and it's a margin thing, as well so, if i that can start to turn the needle a little bit on margins, it's not ridiculous to see the stock here, given the fact we've just broken out from an all-time high >> we're going to do it's so good it's blank, carter, but i have to ask you the same thing for walmart here what is your take on this new high >> yeah, well, it's such -- it's not to say feeble high, but it's a small, incremental new high. i don't think it has the twerk, the ability to really break out in the traditional sense of what a breakout is. i would point out, also, that, you know, walmart's relative performance to its sector peaked in 2000. walmart carried a 57 pe. it got bit up with the dot com era. and, yeah, i think -- it's full here, may be the word that karen used or similar word

>> so good it's full -- >> is this the so good -- >> no, just an extension >> all right coming up, coming up is the real segment, so good, it's blank. we'll ask carter what he's seeing for a trio of this year's top performers more room to run oti trur meo n away "fast money's" back in two mlb chooses t-mobile for business for 5g solutions... ...to not only enhance the fan experience, but to advance how the game is played.

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it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. all right, we have a triple take of 2023 outperformers elf beauty, general electric, and eli lilly, all on runs this year, but are the gains too good to be true let's find out with a solo game of so good it's blank. starring the chart master. carter, fill in the blanks here. >> sure. i can be a spoiler and tell you all at once what i think, but let's go through them one at a time so, when you are steep and uncorrected and increasingly sort of unrelenting advance, at some point, you have the risk that what comes out is not good enough, similar to the stock today dropping 27% because of a.i. now, let's look at elf elf is not a.i., but we know that estee lauder is under

pressure, we know lvmh, we know that ulta beauty elf has lost its mind. it's -- well, take a look. 20 to 140. i would point out, it's gapped up several times you can typically get two and sometimes three gaps on earnings it's very hard to get a fourth, because the price targets get moved up to the point if it's very hard to be. i think it's so good that it's bad. let's go onto the next one totally different business, of course, we've got ge ge is nowhere as near as steep and uncorrected, but it's the lack of variance it's just literally tick, tick, tick, higher, forever higher no dips, no drops, no corrections, no drawdowns. that's not how stocks work eventually, you get that down. i think this is also so good that it's bad. last one, a little harder to discern. lilly, because of its gap up

today, it was rerated. news, we know, of course, having to do with the very big business of weight loss but here, too, how much is now priced in? how much is known or said differently? how much of all that's coming, almost all that's coming, is already discounted i would say a great deal so good it's bad >> all three are bad all three are so good it's bad >> they're so good, but they might -- you know, there is that moment, as you all remember in the kitchen, the beautiful piece of fruit, it goes ripe, ripe, ripe, ripest, and then one inch more and you've got fruit flies, so -- >> funny you should say fruit flies. that will be the afterhours show i'm saying i mean, we've got flies flying around here. >> minor fruit fly issue here. we'll leave it at that julie biel would you disagree with carter on any of these charts

do you like any of these charts? do you think they're so good they're good >> you know what, the charting is always well beyond what i know elf is a really interesting name, right? they have started off as a brand that, you know, was selling makeup for $1, $2, and now, they are holtt and heavy in creating duplicates, or dupes, and they do a fantastic job on tiktok i've obviously been very influenced so, i think they have a lot of potential in terms of their ability to trade down, but it's very much what carter is saying in that there's no asset that's so amazing that price doesn't matter, and i think price does matter here, so -- while i think it's a really great story and a great company, i'm not really so much sure of it as a stock >> karen >> well, one -- the lilly one interests me, just -- pointing out today, in the green room, that moderna has round tripped the entire pandemic move when they were only one of two companies that had the most important product on the earth -- >> right

the most valuable product in the world. >> yeah, and now that's come all the way back down. so -- i get carter's -- why it's a little too good. >> we had -- we had a conversation about eli lilly the other day -- >> jared >> fantastic you are going to start to see analysts chase today, jeffries raised their price target to 615. swan raised it to 600. and i think bmo capital, 633 analysts are stale behind the curve now. now, today's price action scares me you're going to get it back, but this is a stock you want to own. >> all right, up next, final trades let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her refund to build an outdoor patio.

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do not miss an exclusive interview with the ceo of x, formerly known as twitter, right here on cnbc final trade time julie? >> ticker bl this is a company that had softer revenue guidance, but they're making a lot of good moves on their profitability, and their founder perez tucker is back. >> carter? >> alibaba earnings tomorrow i like it. it's the biggest -- >> karen >> yes sticking with the energy trade

i like the xle >> guy >> i'm with k-fine in '09. sticking with the energy schlumberger slb. >> a little behind >> i know. >> thank you for watching "fast money. we'll see you back here tomorrow at 5:00. don't go anywhere. "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 make friends. i'm just trying to safe you a little money my job is not just to entertain, but to teach you and put it all in context so call me 1-800-743-cnbc or tweet maine @jimcramer here is the way the market works. something will be happy for weeks or months on