joining us you explained it you got to what we were looking for, appreciate it morgan, one more day left in the trading week >> one day more. >> has been quite a week for sure >> it has been quite a week. really earnings, election, and economic data when you start to look to next week, which is also going to be back in the market 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 and electric performance tesla jumping more than 20% following a better than expected earnings report and a bullish growth forecast. is the ev maker back on track after its best day in over a decade we'll debate that. plus, delivering returns u.p.s. surging as cost controls take hold. the analyst who put a sell rating on the company just this week will be here. will he change his tune? and later, viking therapeutics a shot in the arm a disastrous day for newmont

and still grounded at boeing what happens now that the union voted down the company's latest offer? i'm melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- carter worth karen finerman dan nathan, and guy adami. we're going to get to the markets in a moment. but we start with breaking news in the retail space. capri shares cut in half after a u.s. judge blocked its merger with tapestry, the owner of coach. let's get to gabriel fonrouge for more >> yeah, huge news today clearly the market hadn't backed this in. capri shares down 15%. $240 million breakup fee we just got a statement from the ftc on this moments ago. quote, today's decision is a victory, not only for the ftc, but also for consumers across the country seeking access to quality handbags at affordable prices these bags are a product which millions of people rely on throughout their daily lives the decision will ensure that

tapestry and ka tri-continue to engage in head-to-head competition to the benefit of the american public. so, melissa, you might remember, in september, tap try and capri faced off until a courtroom. the ftc was arguing that tapestry's coach and michael kors, owned by capri, they compete head-to-head, and if they merge, that means lower quality bags and worse benefits for employees. looks like the ftc has prevailed. we've gotten indications they don't plan to appeal >> all right no appeal. any sense ofwhat is next for capri? >> this is a rough day for capri. already, sales were falling tremendously at michael kors that's why it was willing to merge with tapestry, it was going to be able to come into a bigger umbrella, have the synergies, and, i mean, right now, it's just having trouble competing. michael kors used to be one of the most popular brands with

american consumers and now it's a mainstay at places like tjmaxx you can't argue with that. they're going to have to find the investments necessary, find the cash on the balance sheet to invest into growth, figure out new strategies and fix that brand, and that's not easy or cheap. >> gabrielle. karen, you've been following this closely what happens next for capri? what are its options in your view >> so -- they're in a difficult spot i think they only sold because they wanted to sell and felt like they needed to sell, that kors was having difficulty i don't -- i think they would look toll sell again, which is not a great position to be in, certainly with your stock trading well lower than where it was before the merger started. i don't think the price that capri is trading at right now is super shocking what i think is far more surprising is the decision, right? stock was 41 on a $57 deal, it was telling you that there was

downside if the deal didn't happen but it seemed far more likely to me, and i would bet to our community at large, far more likely, thank god they're saved from this competitive handbag situation, the consumers, this is just ridiculous >> the american public deserves this kind of protection against -- >> it is absurd. >> overpriced handbags that are so important to daily life >> millions of americans these two companies have combined sales of $12 billion. gap is 15, kohl's is 15, target is 100 this is what the tax dollars are going for? this is a joke, i mean, come on. >> it is -- it is absolutely ridiculous i mean, tapestry is up on this, this wasn't a great deal for them at the price they paid, so surprising -- this is the end of the deal to get it finished by the time the merger agreement runs out, that's not going to happen the deal's over. >> karen started her career in

risk arbitrage >> this is the risk. >> can't lie i'm long calls, i'm long some stocks and long tapestry as a hedge, but -- >> i mean, you see what happens. but that's why hedges are in place, that's why dan talks about options, so, it all's playing out right before our very eyes. the question is, i asked karen before the show, where does this stop you get forced liquidation here. it feels like there's a little bit of downdraft still to come, even with it trading 21 bucks. >> yeah, i -- look, i mean, news-related resets like this, you stay away, but imagine, movado and swatch are going to merge, millions will be -- it is literally absurd >> the ftc statement really underscored how ridiculous this whole fight is to keep handbags well within the reach of the american public. you know, handbags that we depend on. >> millions. >> i like that line in

particular anyway, we'll continue watching the story. moving on. the dow dropping for a fourth straight day, weighed down by lackluster results from ibm and honeywell. yields on the ten-year holding steady near three-month highs, but with earnings season now in high gear, we wondered what charts the traders think tell the true tale of the market. guy, what's your chart >> so, you know, i did this because i wanted to tee up dan nathan, and mine is the iyt. go ahead, dan. >> listen. early in your career, when you and charles dow came up with this theory, it's still applicable now >> well, that's why i bring it up, because i think it is. these transports are not your grandfather -- or my transports. if you look at the three biggest holdings uber, which is a relatively new company, right, in terms of its formation as a publicly traded company. union pacific, and u.p.s the three us a wide swath of the economy.

that's 42% of this etf put up a chart and you'll see, we're right up against prior highs from november of 2021. so, one would think the most economically sensitive names, they're going to tell the tale here we're going to go blowing through the prior high or going to stall here. and they all, obviously, impact different areas of the consumer and the economy, so, for me, th does it continue, does ill stall? >> to the charts prove the dow theory is still relevant >> one would be slow to contradict a lot of history. we have a lot of history with dow theory, and the transports were literally frozen. iyt made a slight new high because it's a price-waited index. the act xual dow jones transportation index itself has not made a high in three years it's got to give my hunch is that it's not going to break out in any meaningful way. >> you don't believe it in anymore? >> i think what guy said is

really important if uber is the largest holding, it's just not that relevant to some of the other names that i think a lot of folks would kind of rely on uber is such a unique sort of situation within the transports. and the growth there does not look like the growth in many of the other sectors. i think it makes sense, but what carter's saying, with all that history, you want to lean in towards it a little bit. >> the iyt, while it attempts to mirror the transportation, the weightings are completely different. fedex at 11% uber is only 3%. so, there's a bit of a different between the iyt and the actual dow jones. >> karen, what is your chart >> so, my chart is the ten-year, and so, what i think is sort of interesting or relevant here is the -- the ten-year and the bond market seem to front run the cut, right and once the cut happened, that was it for bonds, i mean, yields started to rise. and i think -- i think we've reached a point of leveling off, which is good, because as we saw, what we thought was going

to be, oh, great, existing homes will come on the market and all of the things that go on with that would be better, but then -- that didn't happen, as rates started to rise and mortgage rates went sort of right back up, so, i think leveling off is really important, even if it stays there. stop the ascension of yields is important. >> i agree with that carter's going to have a different take, but i think the rise in yields is something that the market is starting to take some -- i think it's taking notice of without question now, as we had katie on the show on tuesday, she thought the tlt was a buy, in other words, yields might have topped off in the short-term that's proving to be correct but i think she thought it was a short-term trading opportunity i'm of the belief that rates are going to continue to go higher into the end of the year and at a certain point, the market's really going to take notice. >> what i find interesting, it's probably the most confusing trade in the market right now, if you think about yields, and it's obviously one that was very controversial heading into the fed's meeting on september 18th, the% fact they cut 50 basis

points that was the dead low, and since then, it's gone to 4.2% i think it's got folks turned around, when you see guys talking about how they're positioning for higher rates and for longer, it makes guys like me say -- >> what? >> pikers -- >> not a bad word. >> no. >> if i called carter a piker, it wouldn't be that nice of a thing to say >> well. >> okay. >> all right >> i agree with him. >> carter, what's your chart >> all right well, let's work from top down if the most important sector is technology at 32% and the most dynamic within technology is semiconductors, we have a comparative chart here of the actual philadelphia stock exchange semiconductor versus the equal weight, and we know that the actual index is up 24% year to date, and the equal weight is up only 4% this is a three-year chart three years, and the equal

weight semi is at zero this area of the market is actually underperforming the s&p. it's not as good as the headlines would believe. how long can a few players hold up and sustain the group which is deteriorating >> right this was your chart, as well, dan, you wanted semiconductors -- >> yeah, that piker jump that -- got right in front of me mine is kind of similar in a lot of ways, it's microsoft. this is one of a handful of $3 trillion market cap companies, and obviously, a huge beneficiary of this whole generative a.i. trade. they were one of the first ones to really get rewarded for their investments, obviously openai, and their access to that technology and how they're integrating it across their products and services. the thing's really stalled out, if you just look at it it's about 10% or so off its all-time highs made a couple months ago only up 13.5% on the year. you have a nasdaq and s&p up more than 20%. so, at some point, it just

appears, at least investors are thinking that you're going to see a downshift in growth. going to see some metric degradation, or you are just not going to see the return on the sort of investment, and so, you look at microsoft, they're azure, cloud business, you know, they've been building out a lot of capacity, a lot of clients are going to access the models and the compute on there -- and i don't know they report next week. let's see what that guidance is. and if you see a downshift in capex from microsoft, from meta, from amazon and google, then that's going to be a real problem for nvidia >> noun. a stingy or cautious person, a gambler who makes only small bets in new zealand, australia, if you are watching, a person who withdraws from a commitment. piker. >> oh. okay in the financial world, somebody who makes small bets, there's a small player -- >> okay. karen, does it bother you that there's such dispersion in the

semiconductor index -- >> ah, no, not really. i mean -- i do think -- well, you know, my chart was really much more macro, which was the ten-year, i think very specific earnings will matter a lot now sometimes they trade in front of them either on good news or bad news you trade on the same news multiple times but i do think nvidia's very specific earnings will be important. meantime, let's get to tesla, having its best day in more than a decade, second-best day ever the ev stock surging 22% a day after its first earnings beat in five quarters. elon musk up, expectations, saying vehicle growth will be up compared to egs mates of just 15%. wow. the latest earnings just enough to -- justify this move. what do you do here? >> we had an interesting conversation last night, and again, i want to say, i was not bullish of tesla going into this release. with that said, what we talked about last night was, the margins, the free cash flow,

where the stock was suggested it could trade up to these recent highs. we actually said 263 and if you go to a chart, you'll see those highs. couple times now since december. and that's where -- i think it was today, but here we are the question is, having traded three times normal volume, does it explode from these levels or exhaust itself again you have to do something here if you've enjoyed this ride up today. >> this piker has to eat a little crow. i was very dismissive last night. you had 263, where did it close, 260? >> 260 and change. you have a knock for this. i just thought, we hadn't seen the call yet we hadn't heard the outlook. i just didn't think, based on that quarter, because i just don't believe that margin number, i think there was a lot of stuff that went in there, cutting r&d and a host of other things but when he throws out all of these sort of -- this timeline for robotaxi, a lower priced thing, he's not going to hit any of them.

>> lower cost car, i mean, that's a very short time frame it's not like we're going to see this in two years. this is first half next year >> you think that's good for margins? he actually said they're not going to create a model 2. like everyone said they're going to make the model 3 cheaper. so, the problem, why margins have been coming down so dramatically, because the margin three has been getting cheaper, because they've been in a price war. so, you know, if you're buying this based on those sorts of outlooks, i think you are probably making a mistake, but the stock's been very range bound. i would be very surprised, i said that last night, if it breaks out here, but guy, you had it right >> what does one do? >> yeah, so, in principle, it's such unusual strength with such heavy volume that a stock has been rerated and belongs at this level. meaning, the news justifies that kind of move apparently. i didn't look at the news at all. it's not what i do what we do know, you discount it a great deal you cannot discount out nine years. some people in wall street think you can. or two, or even a year, but you can discount two to three

months, and much, if not all of what's to come, is discounted by the magnitude of this.what's ini stock, there are so many bears out there -- i don't want to say emotional, adamant bears, they feel very strongly about the bear case. and very rarely do i see a bear change his or her mind when it comes to this stock, no matter what the stock does. >> well -- >> i sure wonder why is that >> he's been on the show, our show, a number of times, i mean, i want to use the word legendary in the wall street community i think he has $110 price target on the stock and he's had that for quite some time. on the flip side, adam jonas has a $310 you can see the disparity. nothing really has effectively changed. it's all still there, in terms of, i think, the bear story. it's just the volatility in the stock makes it very difficult. >> so, i think, much earlier on in tesla's history there was a

case for bears to change, and that was when the balance sheet, which really had been an issue, they finally -- they banished that, right? it was no longer an issue. they had cash flow, they raised debt that's one time to do it just looking, the short interest now is less than 3%, it's so -- >> yeah. >> the bears have, they're hibernating, i guess for me, it's just the valuation. i would not be short it, but i can't get on >> that's the key thing. there's almost no short interest like two days to cover there's not a big -- >> okay. coming up, talk about delivering results shares of u.p.s. jumping as the company breaks a revenue rut, but will earnings help the stock return to its former glory we'll talk to an annist who isn't so sure. plus, newmont mining matching one of its worst days ever the results that had investors throwing this name down the mine shaft. more "fast money" in two

this is "fast money" with melissa lee, right here on cnbc.

welcome back to "fast money. shares of u.p.s. topping the

tape after the company beat on the top and bottom lines this morning. delivery volumes increasing for the first time in seven quarters barclays downgrading the name to an underweight, saying long-term pressures from competitors could cause margin challenges. joining us now is the man behind that call. brandon, great to have you with us we gave you props, that call, it's rare for wall street to go to a sell rating, and ahead of earnings, so, that took a lot of courage. where are you now? because some would say that u.p.s. just proved that the challenging times, there's some sort of floor when it comes to the stock at this point. >> yeah, thank you, melissa, thank you for having me on, and for sure, it's not easy to downgrade a big company to a sell, especially during earnings this wasn't really a call about their thursday quarter, because they set up a pretty low bar and stepped over it. but the question is about profitability going forward, and here's the challenge, and, you know, we like carol at u.p.s she's running the company, first

ceo outside of the company in history. she's dealing with a unionized work force and amazon is their biggest company. the new contract has really pressured profitability. so, her path forward is to say, let's take a lot of price. but the problem is, when you take a lot of price, especially an amazon that has their own delivery network now that rivals the size of u.p.s., you incentivize them to in-source even more of that traffic. so, it becomes this negative spiral and feedback loop that i suspect is going to be hard for them to get back to long-term profitability targets. >> in respect to amazon's delivery network, is the writing on the wall that amazon will e eventually take all of that delivery volume back and put it back into its network? >> i'm not certain that amazon can take it all back, there's certain things that amazon can't do today, like they don't go both ways, they only deliver, so, returns, when you return things, it usually goes through the u.p.s. network

that's value that they're going to offer for a long time but the challenge here is, again, as they push more price, amazon has a lot of ability to in-source more of that and it's really telling. carol had an investor day in march and said the glidedown as they call it in the amazon business halted in march this quarter, we learned, no, actually, amazon in-sourced more of these next-day air volumes, they're downgrading to ground. >> so, let me just switch gears a little bit oper operationally, they improved, that was good. but they talked a little bit of softness, a little bit of moderating expectations for the fourth quarter that's more broad. does that weigh into your cap cue lus at all or not really >> well, for sure, that's more a near-term issue and we saw it with fedex last month, they had a pretty terrible quarter, as well we're not seeing the industrial side of the u.s. economy come through, that urges things through the supply chain

we're not seeing the pickup that, and u.p.s. called out that some of their biggest retail customers said, hey, pull back our expectations through the holiday just a bit >> i admire the call, as well, i think you're right, it wasn't about this quarter this stock, if you pull up a chart, it's been in a downtrend for three years. nothing has changed, but i guess my question to you is, at a certain point, we're going to wake up and say this is not a value stock. what is that point in your opinion, price-wise? >> oh, that's a great question i think in the low 100s, this becomes a very attractive dividend yield we're not seeing that the dividend is not safe, because they're covering the dividend. the challenge i have at 130 or 140, where it's trading today, you're not going to get a lot of dividend growth from here. they took the dividend up quite a bit during the pandemic when we had peak earnings and volumes, and now they're well above their payout ratio i know a lot of investors own this in dividend funds that want to see dividend growth that's my fear, at these levels,

you're not going to see the type of performance that you want fedex is merging their package operations here in the u.s., it's a very important aspect of this story, because this is a duopoly, but for a long time, fedex just never had the asset efficiency, because u.p.s. runs one truck, one network fedex has always used two or three. now that they're merging the networks, you're going to get better asset efficiency and they're doing without a union. so, you need to think, like -- i'm sure you have looked at ltl, old dominion we had yellow go bankrupt, a teamster trucking company, one of the last remaining in the ltl sector u.p.s. is the only one remain eshg and they are going to go up against nonunion competition in the future >> did you get a call, did you get a question on the conference call >> they did let me on. >> just checking brandon, thank you for coming by, appreciate it. what's the chart look like to you? >> so, the action was ported in.

despite being up, of course, it couldn't stick its landing, right? fading all day the high was 145, low 136, but closed at 138, that is slippage, not a good day >> no. carter's spot on, on big volume, and what happened, the price action today does not change that three-year lower lows, lower highs, so -- i think that was a great call and i admire it i think he's going to be right >> that q-4 commentary was interesting. they said they're going to see competition from in-store shopping, which i thought was an interesting thing to forecast. >> yeah, are you speaking of nike, thinking of nike, particularly, or -- >> just in general, you know, people returning to the stores, not ordering as many things online >> i wasn't so delighted -- i believe it to be the case, them seeing moderating expectations it's not ideal >> no. a lot more "fast money" to come here's what's coming up next newmont mining getting the shaft.

as the stock notches one of its worst days ever. the results that had investors scrapping the stock. and what the chart master is mining in the neck any calls. plus, hopes for an obesity pill getting easier to swallow the name inching closer to the finish line. and what's going on to help tip the scales you're watching "fast money," live from the nasdaq market site in times square. business internet. employees get the information they need instantly. this is how business goes further with t-mobile for business.

we've got developments on the news we brought you at the top of the hour. cap stri responding to the u.s. judge, saying today's decision is disappointing and we believe in correct on the law and the facts. tapestry and capri operate in an industry that is intensely competitive and dynamic, constantly expanding, highly fragmented, among established players and new entrants we face competitive pressures from lower and higher priced products and continue to believe this transaction is pro competitive and pro consumer we tinintend to appeal so, looks like they are seeking some remedy. >> right, but there is a clock there, so -- that's the issue. >> right >> on the merger agreement

>> okay. we've got a buzz kill here on newmont mining the gold miner having its worst day in more than 27 years. tumbling 15% the company missing wall street eps estimates, but beating on revenue. what a drop. so, what do you do this is, again, a news precipitated drop. >> a couple things we have some charts, but never, ever step in day one and it's not so much, you'll see a three-day rule, there are no rules, but there is an expression let the dust settle. more importantly, what does it really mean? before today's move, newmont was up 39%, s&p is up 21, right? gold miners have had a great year, and this is a setback. number one worst performing stock in the s&p 500 the only gold stock. but here is newmont, we've broken trend if you look at gdx, of course, which of newmont is an important constituent, next chart, we're still above trend and the slight dip doesn't change the pattern i would take advantage of the

weakness to buy the theme. but let's move onto something sort of bigger and more important. here is the comparative chart, year to date, of gold, gold miners, and the s&p. gold miners are ahead of gold, and gold is ahead of the s&p, even with today's drop in one of the bigger constituents. and finally, just where we are in relation to precious metals two eye debit call charts. the first one is, this is an index of 75% gold, 25% silver. so, it's a nice blend of the two. and clearly, we've moved up and out of this formation. second of these two and last chart, we have yet to move to the former high. we're still in aggregate not above where we were years ago. so, stay long, be long, and take advantage of any dips, in my mind, to buy more miners >> and the newmont-specific problem was expenses, which rose dramatically year on year, even though the gold prices rose, also dramatically year on year >> obviously not all gold mining

companies are created equally. with all that said, though, i didn't think it was a 14%, 15% move to the downside if you told me given the rub, y 2%, 3%, that would make sense, given what they reported this is -- this is a bit excessive, i think with that said, i mean, i don't think the trade is over in any way, shape, or form, in terms of gold or the mining stocks. obviously, a setback today, but you got to stay with this trade, mel. coming up, a big move in bio tech, as viking therapeutics surging more than 20%. the positive pill news getting investors and amped up and what it means for names like novo and lilly. southwest shares grounded as it reaches a deal with elliott management the details after this break "fast money" is back in two. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients

are likely to recommend us. ameriprise financial. advice worth talking about.

(man) these men of means with their silver spoons. ameriprise financial. what will become of them when they discover robinhood gold allows others to earn their very liberal rates on idle cash. they would descend into chaos.

welcome back to "fast money. stocks closing mixed as investors digested all the corporate earnings the dow notching a fourth straight day of losses, down 140 points the s&p snapping a three-day losing streak, and the nasdaq up shares of live nation higher today. jpmorgan raising the price target from $118 to $137, citing

the company's effort to develop venues molina health care soaring 18% after an earnings and revenue beat this morning. that stock still down more than 10% this year. shares of cbre zwjumping. raising full-year profit forecast deckers outdoor on the move. shares jumping after a top and bottom line beat and shares ofspirit airlines higher after hours the company saying it will start cutting work force next year in an attempt to cut $80 million cost annually. shares of viking therapeutic jumping more than 21% after the company's latest earnings call, in which it outlined plans for a quadruple combo formulation of its obesity medication, one that could deal a blow to the offering from eli lilly and novo nordisk. let's bring in jared holz. great to have you with us. was this really a surprise to the tune of up 21%, the quad combo? >> yeah, i mean, i think when we look at viking today versus

yesterday, what they -- what they kind of revealed is that they can dose the drug way higher than a lot of investors thought. so, when you triple or quadruple the dose that was the underlying assumption, what it says to the street is, they believe the drug is incredibly tolerable, if they're willing to go that high, and if the drug is tolerable at higher doses, you probably get better efficacy, as well so, we'll see. there's a big obesity meeting next weekend that's where they're going to reveal some of this data, not all. so, we'll get a better sense. >> that specifically is v vk-2x735 we're going to have poster at obesity week, that's going to be the catalyst but in terms of the sort of combination there, and then plug in combination with that drug, that seemed to be sort of upside, the sort of, wow, that could be a game changer for viking, in terms of differentiating it in the market >> yeah, that's the key.

differentiation is what i think viking wants to see, that's what investors want to see and it's what corporates want to see. we've talked about a lot of pharma companies missing this wave and they're all looking for differentiation, whether it's merck or pfizer or other companies that are not really in the market, but could be or should be. i think that's what the significance of the headline for viking was today >> what is next for viking in your view? >> i think we need to see more oral data. to me, the injectable is not as interesting. we figured that out. we've solved for it. maybe there's better dosing regimens or potential slightly better efficacy out of one of the companies, but the oral, i think, is the bigger deal. and the reason for that is, novo has had a couple of hiccups this half, which is very unusual. the cb-1 data was not very good, at least the headline numbers were not very good and then their peptide oral seems like it could face challenges so, this is really the first

time, where maybe viking slides into first or second position in oral, with lilly >> is the number one challenge the manufacturing process? >> i think so. i think that's the biggest hurdle >> okay. >> so you i was thinking you were going a different way what's going to happen for the company? that wasn't what you were going for. in terms of are they -- >> a takeout or what not i know they raised money higher than here, but i mean -- obviously it's the most exciting space in i don't know how long, so -- >> right. >> how big a risk will somebody take, do you think >> well, it's an $8 billion company, they've got a billion in cash, so they'll tell all of us that they believe they have enough money to fund the injectable and the oral trials basically through approval at that point, they'll need a lot more for manufacturing and commercialization, but yeah, look at viking as, you know, it's at the top of the list in terms of what i think should get a look, i think the question comes down to price, you're going to have to pay 15-plus

billion dollars for the company outright, and another several billion every year to manufacture and supply the channel. we've seen just how much money the other companies have thrown at this just this year so, you've got to be willing to take that initial hit and then continue to invest behind it, so, it's going to be diluted for awhile, but yes, i think, we know what the numbers are, this is a $100 billion market, according to pretty much everyone on earth, so, yeah, i think that possibility where the potential is high. >> i guess then, the question, with that potential, can they go it alone billion dollars, but probably only gets them so far. >> yeah. >> i'm sure given the choice of the two, they'd rather go it alone. >> they can go it alone. they'll just have to be kind of perennial money raisers until the sales are at a point where they can -- their cash flow break even or positive, but yeah, they can go this at alone. the manufacturing, i believe they think they can do, but they've also mentioned publicly

partnering, getting acquired, so, these are all things -- i think they're trying to consider everything, every option, but yeah, long-term, could they go at it alone, definite life just going to take a lot of money. >> jared, great to have you with us >> can i say one thing, i know we're tight on time. i was in high school once -- >> long time ago >> for a long time >> i went to pizza place with a bunch of my buddies on a saturday night and i saw the girl that i was dating with somebody else. >> does this pertain to -- >> i was crest fallen. >> oh, i know what you're talking about. >> yeah. >> i saw jared holz on another show -- >> on "the exchange. he was on "the exchange" yesterday talking about managed care >> i was crest fallen. >> i saw that, too we're watching >> he's got to do what he's got to do. i understand >> jared, thank you. >> thanks a lot. >> you can go now. >> dismissed the viking chart, how does it look >> okay, we know that effectively, this stock went from 40 to 100 in february, that huge gap up, news-related.

and since then, as of yesterday's close, you are down some 40% from the peak if you just do a simple search, how many stocks are down 40% from their 52-week high. in this case, today's big move puts the chart back in play, right? and so, i would, if you are long, i'd double it. if you don't have any, i'd get some >> wow. coming up, southwest ending its feud with activist elliott management, but not without making some big changes what the airline agreed to do and what it can mean for the stock. and nba commissioner adam silver sitting down with cnb sport. what he had to say about the future of the league, as well as profitability for the wnba all that, when "fast money" returns.

your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. our advanced matching helps find talented candidates, so you can connect with them fast. visit indeed.com/hire

welcome back to "fast money. southwest airlines slumping 5.5% today on news that the company has reached a deal with activist elliott investment management. the agreement will keep bob jordan in his job and add six new directors to the board elliott just shy of having control. southwest also agreeing to an earlier retirement for executive chairman and former ceo gary kelly. gary kelly's gone. guy, do you like the story now >> yeah, i do like the story

i'm surprised it traded the way it did if you want to look at a chart, $22, a bit of a double bottom, we bounced maybe it's just sort of a sell the news or people looking to get out on the back of earnings. but i think you can make a reasonable case, if you want to be long airlines, the most beta, given the run that delta had, might be in luv. >> from their august low, which isn't that long ago, the group, as measured by the etf jets, is up 39% to my eye, it's stretched. i would reduce exposure. all right, coming up, nba commissioner adam silver sitting down for an exclusive interview with cnbc sport, covering everything from the future of the wnba to a.i. the highlights, as the men's basketball season tips off next. more "fast money" in two

♪♪ [inner monologue] this is going to sound crazy. but i know these attack vectors. oh, had a little upgrade have we? ♪♪ okay, so that's how you want to play. ♪♪

let's go boys. the way that i approach work, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪

welcome back to "fast money. fresh on the heels of the new york liberty bringing the wnba championship to the big apple, the men's regular season is tipping off this week, and the nba's focus is firmly set on the future commissioner adam silver sitting down with cnbc sport for an exclusive interview, covering everything from the wnba's path

to profitability to the nba's use of a.i fascinating conversation, alex >> you know, i asked adam about wnba, because it's such a hot topic, particularly in the sports business world, because the ratings and the overall enthusiasm have been off the charts, and now people are thinking, well, how do we monetize this, how do we keep this going the nba struck its media rights deal in partnership with the wnba that whole deal was $77 billion. any idea how much the wnba's piece of that was? >> karen does. >> in the 200s >> 200 a year, 2 million overall. so, that sounds like a pit answer in other terms, you could say, well, it's a six-fold increase, but still, that's a big delta between 77 and 2 so, there's a little bit of angst in the ownership ranks ab about, is this league too tied to the nba so, i asked adam silver about

this, and take a listen to his answer >> we're working with wnba owners, wnba owners that ols own nba teams, and more broadly, the nba owners on what the right valuation of the wnba teams are going forward, what the best way is to operate that league, it's very integrated now with the nba, there's aspects over time under the commissioner's direction where they're still fairly integrated, share the same office space with the nba, but under her direction, we've added some separate departments, like for example, where they're doing their own marketing right now, they have their own basketball operations department so, it's a balance of things, but i'd say we're collectively looking at all those issues, figuring out the right way to operate going forward. >> there is a re-evaluation of the media rights in three years, where as if the popularity of this league continues to go up and up, media partners will, in fact, pay more money to the

wnba, you can see that adam silver and the owners are starting to think about, okay, we may be sitting on a gold mine here, let's figure out ways to make it, because right now, there's a bit of a conglomerate discount, i would say, on the league >> sure, sure. and that is the case for the liberty's owner, right >> own an nba team, right. there's just a ton of interest it's -- a couple of years ago, the wnba wouldn't have been in a position, you know, remotely close to what it is now, but i think they may not be in a better position again, even what you're talking about >> we'll see, right? there's obviously caitlin clark has really driven the popularity of that league, but still, the finals, which did not have caitlin clark in it, was a 25-year high this year, so, it's more than just her we just really don't know quite yet how much more. >> a lot more, though. >> yeah. >> and i agree, caitlin clark effect is massive, but this was sparking already, and it just -- >> from your standpoint. >> yes

>> separation of the two leagues be better for the wnba is it like unlocking value, sum of the parts >> that's -- that's a good y question i think so highly of both commissioners, it's great leadership on both sides >> i think it's a question that needs to be asked to some degree, and i asked adam silver, in hindsight, do you wish you had negotiated this in a carve-out way so that it wasn't just the wnba kind of going along with whatever the nba did, because the partners are the same, but actually, if they negotiated separately, theoretically, they could have brought different partners to the table and maybe that overall number for revenue would have gone up. so, the next time around, of course, it's an 11-year deal, but you know, if the wnba is, in fact, sort of a rocket ship up, and all you need to do, to your point, is to look at women's college basketball, and the enormous attention on the big schools there, to figure out this is more than just caitlin

clark, you do wonder if we will see a little bit more of a separation of the nba and the wnba in the years to come. >> right these issues are interesting, because it's happening across sports in terms of how valuable women's leagues are, and we saw it also in lacrosse, right -- >> yeah. it's interesting you said that did you see joe on the float i saw him speak a few weeks ago opportunity in sports? wnba, he said that's obvious, but pro lacrosse, he's an investor in that, too. he's excited about it. >> alex, thank you fascinating interview. >> playing hurt, too, alex >> yes >> needs a cough drop. >> for the full interview, cnbc sport content, go to cnbc.com/sport. up next, final tras. de

(♪♪) [child laughing] (♪♪) [child giggling with delight] (♪♪) (♪♪) ♪ ooooh. ooooh. ♪ ♪ ooooh. ooooh. ♪ come on, you two. dinner time. ♪ ooooh. ooooh. ♪ baby. ♪ ooooh. ooooh. ♪

(♪♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com

one more check on shares of michael kors parent capri cut in half tapestry says it will try to appeal, but as karen points out, the clock is ticking there is a small window in order to get that done, so, we'll continue to monitor this story again, capri down 47%, tapestry up by 13%. time for the final trade carter >> crocs, i think, is going to be a winner. >> karen >> we don't talk about it much, zoom video slowly working its way up. >> dan >> the z in zebra, sister. come on. give me a little love, here. smh. his call, his chart, i wouldn't

be chasing that one. >> guy >> rangers play the panthers in a -- >> so exciting >> southwest air, mel. i think the selloff was too much >> thank you for watching "fast money. adon" thimrar ere tomorrow "m meywi j cme starts right now. jim cramer starts right now ♪ we're a long way from home 140 miles off the coast of louisiana. where american technology has unlocked new resources buried deep beneath the waves below it's a new industrial revolution that's happening right before our guys and tonight you're going to learn all about it "mad money," invest in america, from chevron's anchor platform in the gulf of mexico begins 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.