sa salt performance in software overall pretty strong. that seems to be the theme we'll see how it goes with the bigger players >> yeah, talking about tesla earlier, cyber truck became the third-best selling ev in the u.s. behind only model y and model 3, so, maybe not so much of a bust. that does it for us here at "overtime. >> "fast money" starts now live from the nasdaq market site in the heart of new york city's times square, this is "fast money. here's what's on tap tonight tesla charging higher. the ev maker posting a big earnings beat, but coming in a little short on revenue. we'll go inside the numbers and break down the conference call coming up. plus, a tough day for tech and the overall market the naz dag leading thes los apple hit on iphone demand fears. nvidia and the chips feeling the pain could this be the start of a fall today then, the latest on the e. coli breakout at mcdonald's. go inside the luxury warning,

and dialing up a bright spot on a bad day for stocks plus, the ceo of vuori, i'm melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- tim seymour, karen finerman dan nathan, and guy adami. we start off with tesla. shares of the ev maker moving higher posting earnings 72 cents a share. the earnings call kicking off in a half an hour time. phil lebeau has all the numbers. and margins were a stunner, phil >> they were, and that's the main driver here there is a lot to like in this q-2 report, both in terms of the numbers into q-3 and the outlook there. let's go first off with the earnings per share you mentioned 72 crents a share that's 14 cents better than what the street was expecting that's one of the drivers for the stock moving higher. revenue a smidge light, but this is not a miss by a wide margin $25.18 billion street was expecting $25.37

billion. and the automotive gross margins, if you include zero emission credits or exclude them, they are better than expected they were expected around 15%, they are coming in closer to 19%, 19.5%, depending on what exactly you put into the you a motive growth margin calculation. energy storage deployments more than doubling this year versus last year. and they also have given some guidance on the more affordable models that they have been teasing us over the last couple of quarters about, they will be going into production in the first half of 2025 that means, for 2024, deliveries this year, they're not going to be impacting deliveries this year, not going to happen this year and the expectation is that they will have a drop in deliveries for the first time as a company, really going all the way back to when they had meaningful numbers. 1.75 million is the expectation, but generally speaking, when you look at this report, as you take a look at shares of tesla, and,

again, moving higher cyber truck, positive gross margins for the first time melissa, really, across the board, if you are long on tesla, there's a lot to like in this report we'll see what elon musk has to say coming up in 25 minutes. >> always an interesting appearance by a ceo. phil, thank you. >> you bet >> in addition to the margins, which phil mentioned, you know, they're very strong, x auto credits, it would be more than 100 basis points automotive gross margins as a whole, 200-basis point beat. these are just firm beats. >> yeah, x regulatory credits, the margins were still 17.1% good for them. the number, aside from margins that stuck out to me, free cash flow almost $2.75 billion, which was twice what the street was looking for. okay, so, how do you trade the stock. first of all, full disclosure, i didn't see this coming but where does it go from here we topped out around 263ish in july we've obviously come off a bit

that's the level that off the back of this earnings report, it should get to, mel >> cost of it sold, lowest ever. $35,000 vehicle. >> how do they get there i mean, listen, you know, if they're not going to beat on units this year, i mean, to me, i don't know how you get that sort of lev ramg, but again, last night, you asked us, what is this stock going to be graded on it's going to be margins looks like the automotives are better looks like the gross margins are better we focus on the fact their margins on both of those were coming in line with gm, you know and this was yesterday after that huge report the other thing, you know, that folks were very focused on going into the robotaxi event last week was a lower-end ev, $25,000, that's what they're suggesting it comes in at. there's not a single ev they've come out with in ten years when they put the price point on, that's what it actually costs. so, we'll see w, and we'll see what sort of demand is this stock, again, this is afterhours, and who knows what it's going to trade tomorrow that gap lower, that 10% gap lower after the robotaxi, it's

from 240 it's at 232 right here it will be interesting to see how far it can get going, you know sbooshgsinto this sort of . i think your estimate, 260, something like that, i think it's a little optimistic >> your take >> i think it's all about gross margin doesn't really matter, because you are still 250 basis points over where you were on the st street the trends are good. this is the issue, though. i just think there's a lot of -- there's a lot of sloppiness, there's a lot of unevenness in these numbers. in other words, to say this is where gross margins are going to be, it's hard to know. we knew gross margins were going to be under pressure that's why this is such a surprise part of what it does for at least medium-term traders is, you know, this is a stock that a lot of people are saying, there's not a whole lot of good news coming outside of some surprises on the headline stuff, but in terms of operations, in terms of that turn, until you got into the middle part of next year maybe it's happening sooner. the price of ev and battery

inputs and things like that are coming down. that's -- there's no question about that, whether that's also some dynamics, they were higher than they should have been and as demand picks up, you might see a squeeze again. we knew deliveries and we know where deliveries are going to be china, we have to hear about we have to worry about the competitive landscape. those are going to be issue. >> yeah. karen. >> margin really is the issue here i was surprised by the strength of that. i want to look through the cash flow, free cash flow, which actually looked good >> very good $2.74 billion. >> very nice beat. so, that's clearly a good thing happening. so, the stock, i think, 260, maybe, recently, so, it was sort of set up nicely for a beat, because it had come in a very long way still, i'm surprised by how strong these were. >> i mean, you have sort of this -- why didn't they talk about that lower end vehicle -- >> last week >> last week >> listen, i find it pretty

curious. when you think about the price action of this stock and you think about the things driving it, folks out there say, it's not an auto company. this thing is trading off of automotive gross margins and trading off a low-end ev $700 billion market cap, just look at what gm, you know, it's a $60 billion market cap, there's a lot of debt there, so, higher enterprise value, but at the end of the day, it's just not that compelling as an auto company, until they can actually more clearly lay out this vision for autonomy until they can get full self-driving, not supervised those are the things that i think that a lot of folks are valuing it right here, and i don't know if it deserves to be that, robotics and all this other -- >> does it deserve a premium because it is in the lead -- >> premium premium? i mean, like -- here's a stock that trades, like, all the other auto market caps combined in the world are less than this one, and then you think about it, it's still down 50% or so. >> should it trade at the same multiple as gm >> no, of course not

>> should it trade where it is trading here >> ah -- i think it's expensive, but i mean, this is -- valuations never really come into play in anything you do with this stock. again, you got to give them something. i mean, their energy generation, their margins there were 30% the street was at 23%. their services, which is, i think, a $2 billion business, almost 9%. so, they're operating better, regardless of what i think of the company. good for them. and it's been in this range. we mentioned 263, i think, the level in july and the level in september. this quarter alone should sort of get the stock there, i would think. >> i think about the -- the marginal investor in tesla who is the next dollar to allocate and there's room for another dollar to come in based upon where i think the sentiment is around this stock. it's one of the great trading stocks in the market you've had -- i was playing around, you know, there's probably nine moves of 40% or more in the last two years is this one of these moves that's sustainable hard to know i don't think you make that call off of one trading move in the

afterhour. in terms of sentiment, in terms of where the gross margin profile came in that was so far in advance of where people were -- dan's right, where did this come from i don't know i don't like tesla here, because i think the valuation is something that i really can't get behind >> let's get more with "fast money" friend gene munster gene, you heard the conversation here where did it come from and to tim's point in terms of lumpiness, this looked like a great quarter, but we have no idea what next quarter is going to be. and that's sort of the roller coaster ride, i guess, that investors have to just expect. >> i want to put a little bit of context on next quarter, that they did give some guidance related to what the revenue is going to look like they said that they expect deliveries for 2024 to be up slightly that basically implies 10% growth for the december quarter for deliveries the street was at 0.5, so, call it 1% growth so, their outlook for december was a surprise i was expecting the

profitability to be below the street i was not expecting that to move up so, as somebody who is optimistic about this, this caught me by surprise, kind of the strength in these numbers. i do want to highlight an important point on the profitability, the 17.1% that auto x credit number, the critical number we've been talking about, that did have a benefit, a one-time benefit of some of the cyber truck fsd recognition. we'll hear on the call how much that impacted. so, i suspect that there's going to be some dial back on that, either way, it's still likely will have beaten where the street was expecting for the margin number. >> what's your number one question going into this call? >> number one question is, this -- what this new vehicle looks like, and ultimately, is it just, like, an adjustment to model 3? that's what i'm going to be focused in the reason they didn't talk about that at the robot event, they don't want to show an image of a new vehicle coming and slow

existing sales, so, it makes sense they held it to this forum, and hope to get some context in terms of what that vehicle actually looks like. >> should we assume this is basically -- it uses the same sort of chassis or parts as a model 3? so as not to have to, you know, create a whole new line in a factory or mold whole entirely new parts? >> that's generally where consensus is at, that we're going to have to use existing. they don't want to, as you said, speed up giga mexico that's probably not going to happen that would be the case if they were making progress in mexico, which they're not, for kind of a smaller two-seater, so, i think it's optimistic to think that we're going to see that. i thought maybe because they're building some of them for the cyber cab, but i think that investors should probably put their head around a stripped down model 3 here to get to this i like what dan said, they're not going to hit the $25,000, it's probably going to be 30, but keep in mind, this is the part that blows me away, that i think investors should be

contemplating here they've cut their cost by 6% year over year on doing evs, they're making money on evs. or car companies are retreating. they're doing that with some of these lower cost vehicles, asps are down 6%. what this all means is, they're doing all the right things to prepare for the future, to build electric cars, and i think this is still a major problem for traditional auto how are they going to solve this when they're not investing in production of evs? >> gene, it's karen. thanks for being on today. what are you expecting to hear about china? >> it's kind of fallen below the fold here, and so, it -- ultimately, i think what's most important is that they see growth in china. and so, like, when are they going to see growth? that's been a headwind, so, call it china's about 15%, 17% of overall units right now, and so, it's important, i'd like to hear about growth, but it kind of falls below the fold >> hey, gene, so, you talked

about that margin improvement, benefiting from cost of goods sold coming down how do they get there, if you think about, like, raw materials and shipping and all this sort of stuff, have they come down that much that would help the margin -- just help me with that, because, again, in a year where you're going to have deliveries, you know, in line to probably a little bit less, how do you get that leverage i'm just curious >> so, one way you get it is by improving production and efficiencies around the cyber truck. that's been huge drag. so, by just streamlining that, you get some of that benefit keep in mind, the asps are down 6% year over year, and the cost per vehicle is down 6% so, not only did they lower prices, average price now of a tesla is 42,000. average price of a new car in the u.s. is 47 so, to answer your question, dan, how did they get there, and the answer is that i think a lot of it was related to what's happened with cyber truck. >> gene, we'll check back with you when the call starts, that's in about 15 minutes time

i do hope an analyst asks about what happens if donald trump wins and if he actually leaves the company, but we'll see we'll see. that's sort of another outlying factor to -- as -- you know, nobody's a shareholder here, but if you heard that elon musk is going to step away from the company to join the trump administration -- >> i think he would say he could do both. seriously. >> i mean, probably. >> of course he'll say it. >> if that's the concern, right, if he's got -- >> i don't see how you can do that, if you are -- if you are not allowed to hold stock in a company actively, put it in a blind trust. >> he'll put it in a blind trust. >> run a company -- >> right that hasn't stopped some of the things we've seen go on. >> yeah, i agree the norms are no longer the norms. so, historically made sense no longer does. so, part of the agreement, my sense would be, i get to do both, and they probably let him do it. >> that's nuts but anyway

we'll get much more on tesla in a few minutes. again, the conference call starts in 15 minutes time. a lot to go over on that call including the point that gene raised about the automotive gr gross margin x credit. what kind of benefit is it getting from cyber we'll see. meantime, let's get a check on the broader markets the nasdaq leading thes losses the drop led by megacap technology nvidia dropping nearly 3% after hitting an intraday high just yesterday. meta and amazon seeing outsized losses, too. and apple souring today on an analyst report of -- >> go ahead. >> like a granny smith, right? >> weak iphone 16 sales. the report saying apple slashed production for its newest device by about 10 million units. all of that as yields continue to rise. tim, what did you make of the action today >> well, i'm not going to say a day and a half of heaviness, and it's not even that heavy in a

world where everybody's focused on armageddon in the rates markets when, in fact, the rest of the world's rates have also moved up with ours, so -- i don't know i -- i'm not too worried about the price action today i think getting to apple, you know, apple, heaviness in terms of what they're seeing in terms of iphone sales, the word at least coming through is that ultimately orders of at least the new a.i.-featured iphones or the features that at least would give people the reason to go out and buy it are down. and not where people expected. the question is, really, if you buy apple today, if you bought it in the last, say, two months when it's made this move from 195 to 230, it -- do you really think that's in the price? i mean, i think it really gets down to a place where the market is looking at apple, their services business, their margin profile. the capital markets and the fact that the stock has done zero in a world where the equity markets have moved a lot higher. that's been the story for apple. so, the iphone story, in terms of the a.i. and the refresh cycle, i don't think, is in the stock price right now, i'm no

too worried about this headline. >> the analyst saying there's no evidence that apple intelligence is driving any sales, and that's sort of your point, there is no apple intelligence right now >> right now and, interestingly, so, the whole notion that there's 300 million iphones that haven't been upgraded in three years, that sort of thing, again, that's great we've heard about the super upgrade cycles for a long time they really don't materialize. so, if there's finally a reason to do it, i get it, but it's a 2025 thing we've been talking about that for awhile here's the other issue china is 20% of their sales. so, they have a new phone out in china. there was some talk a week ago that sales were up 20% in china. >> right >> apple intelligence will not be in china. >> no. >> so, it's just not going to be -- the firewall, the whole thing or whatever. at some point, might they kind of partner with a baidu or alibaba and have some cloud stuff there and some of the software intelligence, maybe, but if china's a really big part of that, so, that's not happening any time soon. i don't mean to -- i'm not

particularly beared up on this and gene will come back on and tell us, the story is going to be 2025 and 2026 the mixed shift of all of these services are going to be built on top of these a.i. models, that's when they start getting a larger share of that, and it helps 46% gross margin get above 50 for the first time ever >> tim cook was in china today, probably trying to smooth the way towards some sort of partnership for the a.i. part of the business there, karen. that's going to be criteria came >> it's going to be critical and difficult, i think there, again, so, does the election make a big difference, do we have -- do we have a, you know, sort of difficult relationship with china either way? maybe. i don't know you could see trump maybe being more hawkish >> uh-huh. >> but also, i mean, i agree with dan, it doesn't really matter right now what the sales are, because we don't have the product yet, and so, i think any numbers that we hear that are light, whatever, i don't think they make much difference in the long run >> we've talked about valuations

all the time 7.5% eps growth-ish -- excuse me, 7.5% revenue growth, 11% eps growth, margins that have flatlined to slightly higher at 31 times next year's numbers the good news, to tim's point, the services side is a bigger portion of revenue now i think it's north of 25%. so, deserve the premium multiple but the move from 193 to 237 predicated on that june 10th is a little overdone. all right, coming up, more earnings action to bring you shares of ibm, las vegas sands, and more on the move the details from those quarters next. and it's not just ibm. back in two. this is "fast money" with melissa lee, right here on cnbc.

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low return on investment projects and reinvesting that money in gen-a.i. proof of concepts he cited a choppy economic backdrop what is working for ibm is continued strength in software, with revenue increasing 10% year over year, driven in part by that acquisition of red hat, and generative a.i. bookings topping $3 billion in the quarter, more than a billion higher than the previous quarter cavanaugh says clients are looking to u.s. a.i. to increase productivity and enter new markets. shares pulling back slightly after hours after hitting a record high last week. still, the stock has vastly outperformed its software competitors so far this year, melissa. >> all right, seema, thank you seema mody shares down about 3% right now just yesterday, we got s.a.p. earnings, thought it was a good precursor to ibm here. maybe not. >> not horrible. i think the revenue, slight miss on the revenue side. maybe people looking for more on the a.i. side. i'll tell you, i think $3 billion is pretty significant

rise from last year. the integrat tegration going we clearly not well enough. it trades at 24 times next year's numbers ish, which is not cheap. maybe a pull-back is in order. >> did you say redhead or red hat? >> i heard redhead >> we knew what you were talking about. you've been talking about red hat for a long time. >> redhead, red hat. >> when's the last time this stock has traded at a market multiple and expecting 5% earning and sales growth i think to -- you know, there's probably faster growing stories that you'd rather pay 22, 23 times for. >> now i'm wondering why i'm thinking about -- i have to look at the tape. >> i heard red hat >> i heard redhead >> still with the redhead? >> still >> we have to move on. you know -- >> i'll say this, the redhead acquisition back in 2018 was something that everybody laughed at the price, but now it turns out that red hat is exactly the kind of move they needed to

make, and honestly, i think it's -- there's a reason why this company is trading at a market premium when it used to be at a major discount is the fact they have a services business that's as kind of been there. the cloud dynamic puts them in the game the -- the, you know, the argument here around some of these things, the headline around discretionary spend affecting their consulting business, do you really care about that a 90% move since may of '23 is part of the reason why the stock needs a reason to pull back. i'm not a raging ibm bull, i'm just telling you, the moves they have made have not gotten a lot of attention and yet they're the ones that are paying dividends now. >> this is all part of a search for a legacy technology company that is going to participate in the a.i. story to pay a lower multiple for a growth story. this is not the one you picked you picked dell over ibm >> yes, yes, it's a very different business model i guess i think of -- well, to me, dell was somewhat cheaper, now it's some what more expensive, but i think -- i don't know, i'd rather be in

dell, i feel like just the history of ibm sort of being -- weighs too much on me. i give it too much -- >> history of it being -- >> the history of ibm being -- >> financial -- spending all the money on buy-backs, it did trade higher, but it was worth doing but they seem to be late remember watson? watson was so cutting edge >> it was so -- >> and this is so old now, but -- but at the time, the idea of it -- >> stock's been a beast. the stock's been an animal >> after years of not being an animal >> of course >> right >> what could they have done with that money instead? >> there's skepticism. >> too much of a penalty of that >> every major computing trend, they've talked about watson and what that was going to do for then they had a commercial five years ago, how watson was tracking over the block chain tomatoes moving around the world. that's why people are skeptical of this story. redheads or not.

>> they had those commercials? >> yes >> i'm a fan, but it doesn't mean i'm wrong, but overlay, when gary cohn stepped in and look at what the company's done. i mean, he came in there and did a little sort of recalibration, it's worked out really well. and by the way, ibm was the i in our senior executive producer sa sandy's annagram -- is it an annagram -- >> no, it's a acronym. >> for some people, it east just a bunch of letters that mean nothing. >> right. coming up, the latest earnings headlines the issues that have two names in the red. and the earnings keep romming in we've got the results next you're watching "fast money," live from the nasdaq market site in times square. back right after this.

welcome back to "fast money. stocks continuing their pull-back this week. the dow falling more than 400 points the s&p down 1%. the nasdaq snapping a five-day winning streak, dropping more than 1.5%. all three averages notching their worth day since early september. shares of mcdonald's down more than 5% today after its quarter pounder was linked to a multistate outbreak of e. coli at least one person has died

mcdonald's saying today that it was informed by the cdc about the potential link last week and that it pulled the menu item from restaurants in the affected area the cdc infections may have been caused by slivered onions, the company said it has not ruled out beef as a potential source meanwhile, shares of seagate technology dropping more than 8% despite top and bottom line estimates. revenue guidance in line with expectations kering 3% lower after posting a 6% drop. the gucci owner issuing a profit warning, saying 2024 operating income would be almost halved as weak china demand wakes on sales. and whirlpool higher after an earnings beat and upping guidance las vegas sands and united rentals missing, and mattel reporting a beat on earnings, but a small miss on revenue. karen, you own uri, kering, where do you want to go? >> i'll go uri

i really want to caution people, you've got to listen to the call, which is tomorrow morning at 8:30. and hear about the quarter, but also about their outlook i mean, this has been a beast, and down a lot in the last ten days, but still, an extraordinary story. kering, just awful, but they've -- anyone who wasn't expecting awful hasn't been paying attention, particularly for kering there's a very specific issue, which is gucci, which is a disaster >> you flagged seagate >> yeah, this is interesting there has not been a stock that's been caught up in the gen a.i. euphoria over the course of the last year. maybe they can put a one-year chart up looks like a 45 degree angle the guidance looked at when you look at some of their customers, it's dell, it's hue let. it's just these pc guys. the optimism there is that they're going to have generative a.i. pcs, that's the next stretch of this, so, you know, maybe some disappointment on the guidance

it actually looked kind of fine. i don't think there's a lot to extrapolate. the hard drive business, they have the solid state drive the solid state drives are the ones that are used to train the models i don't think it's a great read on the a.i. trade. coming up, the price of alzheimer's drugs comes into question what regulators in the uk are saying. you have seen their commercials and maybe wearing their clothes right now. th the athleisure brand making ways what the ceo has to say when "fast money" returns in two. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right aft ts.erhi

welcome back it's a major disruptior in the athleisure space it's been eating into market share competitors like lulu and nike, and now it plans to open dozens more retail locations in the u.s. joe kudla is the founder and ceo. great to have you with us. >> thanks for having me. >> i know you said in past interviews you don't need lululemon to fail in order for you to succeed, but you want their share. where are you gaining the share most from at this point in your

estimation >> look, i think it's across the board, but you know, when lululemon was building a business rooted in leggings, vuori was building a business rooted in versatility and lounge with the way people are living our lives out of covid, we're seeing people rush to occasions, they want to dress up, but they don't want to lose that comfort that they got so comfortable with during covid. and that's what vuori does, that's at the heart of our brand. and so, we're seeing it across all categories our design ethos is built to move in, styled for life and we apply that not only to fitness product, but to lounge, also to travel commute, and we're seeing all -- we're seeing this recipe of built to move in, styled for life, applied to these categories, and it's really resonating in a deep way with our consumer. >> you say that you built a deep connection with that consumer, but that consumer very recently has shown its willingness to try a lot of other brands, hence the

rise of vuori, in addition to all these customers. also still shopping at lulu, still buying nike gear how do you know that connection is firm and that they will continue buying when they've already shown they're willing to try all sorts of new things? >> look, i think in our business, it always comes down to product it's product, product, product, and innovation you know, our number one value as a brand is to make great product, and that starts at the textile level. vuori has innovated, we've prichb that we brought really incredible innovative products that strike this perfect trifecta between performance, comfort, and all-day wearability. that recipe is what we apply to everything we make, and i'm confident that as long as we continue to keep that product obsession, institutionalize that product obsession and take incredible care of our customers, the future looks bright >> joe, it's karen, thank you for being on big fan, i got the joggers, the

polo, the whole deal i'm really interested by this -- i know you want to grow your stores, but seeing lots of times of vuori and alo and lululemon on three corners of a busy intersection, how do you think about, when customers come to look for athleisure, related, lounge, how -- where do they go first and where do you fit in that >> yeah, you know, we want to be at the -- at the center of where people are shopping for this category, and we want to win through innovation and we want to win through aesthetic and our textile sensibility. so, we like hanging out where lulu and alo hangs out in some respects, a high tide lefts all boats, you know, we don't believe lulu has to lose in order for us to win today, we're in a $95 billion category, it represents 23% of

all apparel sales in the u.s it's scheduled to grow to 25%. so, we're in a growth market, and we think as long as these continued trends towards casualization and health and wellness continue to be prevalent, we think we're in a really great spot to grow the business >> joe, it's tim again, love the brand, love what you're doing started out as a men's brand, where as lulu started out with women and moved into men do you have a demo that you think is more important to your future right now in terms of differentiation? i think part of -- as a man, i think part of that appeal in the fitness world is something that actually is more wearable. but i'm just cup use, as you think about growth, is there -- do you want to focus one side or the other? >> one of the beautiful things about our business today is we're 50/50 men's and women's. we started in men's back in 2015 but we launched women's in 2018. it's grown to be 50% of our business and that's how we assort the line, our retail stores. we think that's a competitive

advantage. we will always speak authentically to men this build was build by a man. it's always going to be very important and a strategic point of differentiation between some of our competitors, but women's is coming on very strong and i think our tactile sensibility and our aesthetic that comes very natural to us is -- is resonating very deeply with women, so, we think 50/50 is where we would like to stay >> we just showed a graphic, you want to open 100-plus roe tail locations by 2026. how do you fund an expansion of that magnitude in such a short amount of time is there an ipo along the way, joe? >> i can't comment on the ipo. we're keeping an eye on the public markets, but we've largely grown this business through cash flow generation, you know, at a time when a lot of the dpeers were raising a lot of money, we were always focused on very positive economics, and that resulted in

a really healthy balance sheet, a really healthy cash flow generator. and so we've been largely investing in our growth through cash flow. we opened -- we will open over 20 stores in the u.s. this year with additional stores abroad, we've got another aggressive year of store expansion planned for next year, we love our stores, because it introduces a broader assortment of product to our customer, and some of our highest valued customers originated in our retail stores because we provide an exceptional level of service >> i'm personally looking for a pair of, like, athleisure pants that i can wear to work that look acceptable, so, if you have that in the store, i'm willing to check it out. joe, thank you for joining us. >> thank you for having me >> joe kudla tesla shares are moving higher as we speak. they are up by 11% on the back of its earnings report gene munster has been listening into the conference call gene >> hi, melissa

musk says they expect 20% to 30% year over year delivery growth in 2025. the street was at 15%. so, it's a continuation of what we saw in the december quarter playing through. attributes some of that to the lower priced vehicle don't have details around it, but it's having an impact on the growth and he just added that he said it's extremely likely, he added the word extremely, that fsd will be from a technical standpoint done by the end of 2025 >> wow all right, gene, thank you gene munster >> thank you >> keep us posted. again, up 11.3%. i want to trade vuori before we leave that story, because it's a fascinating sort of landscape here and such a disruptor of a company. >> they've just done an extraordinary job. i'm very interested in the ipo you've got to believe that their banker is just clamoring to get to that ipo. lulu has found some footing and it was close to 300 a couple of days ago they've done an extraordinary

job. good for him >> first of all, tim should be a model for them, 100% >> he's wearing a lulu -- >> i don't know what that means. i can tell you, i have never worn anything but a homemade tank top to the gym. >> homemade? >> homemade. >> are you sewing it >> i'm talking about a muscle tee. >> you're weaving the fabric >> by the way -- >> the image -- it's a family show >> you guys had a lot of nice things to say about the brend, but somebody who will never is this guy casualization in the -- not happening for guy. >> no. and, you know, years ago i heard the phrase specialty retail is where hope goes to die, and listen, under armour was a great story until it wasn't. lululemon was a $510 stock december of 2023 got cut in half by the summer. so, it is a great product, without question, it's a great story, but -- you know, as quickly as things are fashionable, that's how quickly things are not >> but the sector, i guess, you

know, the athleisure world, is very fashionable, and in other words, i think there's a lot of room joe said there's room for everybody. there's no question about that because the fitness to the office, that whole dynamic is something wasn't just a covid dynamic. and it's something that's going on the space, i think, is growing, the addressable market is growing. >> and he is taking share. regardless what he says. they're taking share >> we've seen it in the lulu results. by the way, more tesla headlines here before we get to break. elon musk talking about the cyber cab, saying it will reach volume production in 2026. this is on the conference call he's aping for 2 million units a year of the cyber cab, so, that's what we have so far shares up 11%. coming up, the headlines that had pharma stocks in the red. don't go anywhere. "fast money" is back in two. it's all the things that keep this world turning.

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welcome back to "fast money. a couple movers in the pharma space. let's start off with eli lilly the stock down 2% after uk regulators deemed its alzheimer's drug too expensive for wide use, recommending it isn't offered to the national health service the agency citing both the price of the medicine and the high

cost to treat its side effects. shares of hims and hers shares down after novo seeks ban on compounded glp-1s you are tagging lilly, guy >> yeah, it's been a slump since the middle of july-ish it's not like it's cascading lower, but it's moved from 990 down to 904. one has to wonder, i mean, the alzheimer's stuff, without question, you should flag. obviously, a glp-1 story, but they report earnings on the 30th of october -- tim. >> boo >> boo >> thank you very much by any metric, very expensive stock. they better say some great things to hold only this 900 level. i think it can trade lower from here >> didn't you say october 30th >> he did. >> and that's why i was slow to my boo >> i didn't understand, why are we saying boo? >> close enough.

>> the eve of boo. >> i agree with the boo on lilly, though. and it's a case where the valuation maybe starting to catch up to it we still really haven't heard that the competitive landscape makes it more than a two-horse race, but it will be. we have some more coming in we have some more coming in on tesla right now, which

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let's power on! power on with the leader in connectivity. powering possibilities. comcast business. power's out. . welcome back to "fast money. let's look at some telecom movers t-mobile raising its full-year guidance the move coming after at&t this morning said it was maintaining full-year guidance, despite missing revenue estimates. the company posting better than

expected wireless subscriber numbers and seeing shares pop 4.6% tim? >> well, it's a bit ironic, as rates move higher that some of the names that were already seen have been dividend plays have actually caught fire and been on fire all year. in at&t's case, i think it's a function of t-mobile it's a function of t-mobile's leadership, kind of channeled that business, i think there's a less predatory environment, in terms of pricing amongst the big three. all three focus on their core businesses i think it can move higher in at&t >> guy >> t-mobile continues to crush made an all-time high today, if not, within a dollar or so valuation always a concern probably more than twice the multiple of verizon, at&t. the problem is, it deserves it, and t-mobile is still the way to play it. >> some would say the valuation of at&t is too expensive >> well, they have a lot of debt >> plus the spend they're going to have to do next year to upgrade their network. >> it's not a value play, that's for sure and the question is, are they oper

operationally more efficient than they've been in a long time >> i never liked the sort of dividend plays, but it's worked. remember, this was -- the stock's done surprisingly well but it has worked. i didn't own it. >> why are you smirking? >> it's probably somebody's a in their anagram, but it shouldn't be -- >> it's not an anagram, either >> yes if karen were putting it into her acronym. >> it would be an r. t-mobile >> you could have slipped at&t into your clam >> you don't want to put too much in there, tim >> wouldn't be good in the clam. >> you know, look. >> you don't need a phone in there. up next, final trades. personalized financial advice from ameriprise can do more than help you reach your goals. -you can make this work. -we can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients

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final check on tesla we're at the afterhour sessions highs up 11.6% the gross margins were a blowout. musk saying adoption of the full self driving increased after the cyber cab event. and the new affordable vehicle will begin launching in the first half of '25. and delivery growth in 2025, that's a big blowout, as well. the stock is up. final trade time, let's go around the horn. tim seymour? >> yeah, at&t. not something to be doing cart wheels over, but steady improvement may be enough to move the stock higher. >> karen >> yes, i'm going to cover some meta calls that i had sold a couple of weeks ago before they earn next week >> dan >> yeah, the kweb, it's got a gap to fill, but i think that's a great entry point. >> guy >> according to people on twitter, i'm big enough to say,

people said that i said redhead, gentlemen that says they tape the show every day -- >> you've said worse things than redhead. >> you meant hat >> where your head a'st. >> walmart, 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." my friends, i'm just trying to make you some money. my job is not just to entertain but to explain. so call me 1-800-743-cnbc or tweet me @jimcramer. when the s&p goes u