on the move, but we'll have to see. >> amazon recovering what it lost during the day's regular session so far here in "overtime." >> it is. so, you know, it's going to be kind of a net neutral going into tomorrow, we'll see what the first day of a new month has for us. >> yeah, well, that's going to do it for "overtime," but there is a lot going on with conference calls, starting off in just a couple moments. "fast money" begins right now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." today's market action a fairly scary one for your money. going to tell you why in moments, but here is what is ahead on this halloween hour. tricks or treats? you got $5.5 trillion with apple, amazon, the beaten up intel, and more, all out, all the numbers ahead. overall, your markets, your money down today. we have the election next week. the jobs number tomorrow. will it all just add to

vola volatility? plus, a glowdown for estee lauder. uber's not so five-star earnings report. and a story that hits home, could comcast sell off or spin off its cable businesses, including, guys, this very channel? it is a very big night. i'm brian sullivan, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. all right. we do not have to look hard for a lead to tonight's show. it is the -- if we couldn't figure this one out, folks, we should quit. it is the massive amount of earnings rolling out right now. apple, amazon, intel, and more, all in focus and, as always, we've got full team coverage lined up for you, i ceci ma moddy looking very nervous in the lower left-hand corner. you can smile, seema. steve kovach dialed into apple's kael, seema mody has the details

on intel, but we'll begin with kate rooney, who has all the headlines from amazon. hi, kate. what were the big takeaways on a stock that is moving up 8% right now? >> yeah, sully, so, the beat in the quarter for amazon really proved that andy jassy is able to turn a strong profit while still investing in growth. that is the big takeaway. margin expansion really the story here and cloud growth, helping the stock afterhours. you can see up more than 3% afterhours, shares were up more than 5%. aws growth and that growth rate was the number to watch, sales grew 19%. right in line with expectations. aws revenue was $27.45 billion. we're going to hear more about a.i. as the call kicks off as we speak. q-4 revenue guidance was key, and that was in line, they are looking for operating income of between $16 billion and $20 billion. margins, a big story for this quarter. north american retail margins expanded to 5.9% after

contracting in q-2, and then q-3 operating margins were 11% for the quarter, beat expectations, which were around 9%. advertising also beat, it's becoming a big eer part of the bull case, grew 19% in the quarter to $14.3 billion in sales, that was strongser than expected, and then operating income grew 129% year over year to $17.4 billion. really highlighting the cost-cutting amazon has gone through and this focus on efficiency by andy jassy. as i mentioned, brian, the call is going off as we speak, i'll flag any headlines, but i'm going to tune in. back over to you. >> yeah, certainly will. all right, guy -- >> yes, sir. welcome, brian. >> come on, tim. >> nice to see you, sir. happy halloween. guy? >> boo. >> yeah. thank you. >> go dodgers. >> what's unnecessary. please. >> amazon, your take, guy, market likes it. >> the guide was not good, if you look at it, but you know what the street is looking at? look at operating margins, we're

up 11%, the street was at 9.3%. that's up from 7.8% a year ago, that's all you need to look at in my opinion. the quarter was fine, but it's all about margins, so, when they sort of turn the knob and make operating margin number like that, it stands to reason that the market's going to respond in kind. quite frankly, given the selloff today, i thought it would be trading better than it is now. we just got back what we lost today. but this quarter with that margin should be able to take us through the july high, which is, what, 198 or something. >> i think that's it. and it's a stock that's underperformed a bit and it's been easy to kick amazon around. you get back to the ad business, double 19s, those are the numbers that the market wanted to see on top of the margin. so, it's all about relative performance to me, and it's all about, you know, this is coming on a day -- i think it's appropriate that markets were as weak as they are, we're going to talk about that earlier today, because i think it puts -- it puts into framework where amazon relative to itself is showing they can -- remember the question was about, we always know they can grow, can they

ever squeeze profitability out of it, could they ever do that? those are the periods we rallied the stock, then it was the opposite, we wanted to see the top line growth. we're getting them both here. i think amazon is a stock you're staying on. i like the consumer business, which i realize we don't put any value in and i thought it was a good story. >> yeah, i agree with everything you said. the one thing with guy i disagree with, the guidance, i don't -- they're not in the business of giving you exact guidance. >> they don't like it at all. >> i always think no company should give guidance. i don't put a lot of stock in their guidance. but i think -- they picked a nice day to put out a very good enough, there was definitely things to like here. and the stock was down during the day, so, it did just get that back, basically, i like it, i'm staying long, there's nothing in this release that would make me want to reconsider that. >> just as far as the guidance is concerned, they used to give

guidance you could drive a truck through and they've narrowed it a great deal. but they moved the midpoint up a little bit, i think on the revenue line, and tim's point about the 19 and 19 as far as aws growth and obviously advertising, those are their high margin businesses. the advertising is growing very fast. it's a $50 billion a year business. you could say on their total, that would make it 10%ish or something like that. so, to me, that's really interesting, the way they're growing. some of the advertising stuff we've seen from some of their competitors has been pretty good. it's been a decent bright spot, so, to me, i just think it's a margin story as it relates to e-commerce, but you know, growth in aws bottomed out, i want to say, a few quarters ago at 13%. no one thought it was going to get that low. when you get to 19% and you get a greater percentage of total sales, that's really what i think is driving this performance right here. >> said basically a round of, you know, if you don't want to come into the office five days a week, maybe you can go find another job. it's clear they're trying to cut costs, maybe drive down those

margins up. amazon, since the dawn of time, was a low margin story, a no margin story. now -- i mean this respectfully, you talked about narrowing those guidances, it's like a grownup company now. >> look at you. i like the way -- >> big boy company. >> 11% margins are extraordinary for a company that historically is low single digits. and give the magnitude from year over year growth, you have to be aim imp impressed by that. i understand, this quarter, in and of itself, is good enough to get the stock, i think, to a new high. >> about the grownup thing, i could make the argument for 20 years they've been kind of just reinvesting any profit that they've had to just grow their market share. pretty dramatically, right, into other products and other verticals and other geographies. they were able to build up businesses like aws doing that, so, now, 20 years on, they're getting a lot of that benefit. >> it is the big boy thing, maybe we'd see -- they don't have tons of cash, as much as

the other ones do, that sort of became big boys like meta, but also, they do have their own sort of, you know, the kiper project, reality labs, just spend, spend, spend, that maybe one day will be something. >> that's bezos. you wonder what andy jassy may do. i only bring up the big boy company -- i mean that as a company. maybe at some point, you run out of new businesses to just keep pouring your money into and at some point, you become a -- dare i say, i mean, a cash flow play, right? >> harvester. >> harvester. >> well, it -- it is certainly something that at times the market has been looking to get from amazon, and at other times they have not. it is also interesting you're seeing the headlines and the ceo is saying, we're going to continue lowering product prices as unit growth continues to grow. i think that's a great thing to communicate not only to the market, but to your consumers right now. i think amazon, part of this whole platform, has been about being a place where they can dominate, and whether they can dominate certainly in the

consumer, part getting that into the advertising business, it will feed that business and now we can see where those consumer rev revenues, the e-commerce revenues, actually lead to profits. all right, now we're going to turn to apple. now, apple, unlike amazon, is actually a little bit lower right now, despite the fact that the numbers, at least on the surface, doesn't seem so bad. steve kovach out west with more on the key numbers we need to know from apple. steve? >> yeah, brian, it was a beat on the top and bottom lines. the stock is down about a percent on this. let me go over the most important numbers here. eps was a beat at $1.64 adjusted. there is a one-time charge in there for an eu tax charge, that is why we're going -- comparing to an adjusted number, not the gap number. as for revenue, it was a decent beat here, $94.93 billion, just above $94.5 billion the street was looking for. iphone, a record september

quarter. 46.22 billion, beating the street's estimate. again, a september record quarter for the iphone. services, though, this is the downside of this report. a miss. $24.97 billion, street wanted $25.28 billion. now, i caught up with ceo tim cook on these results, and talked to him a little bit about apple intelligence and the momentum there. he told me about the soft ware update that was ios 18.1 that hit on monday, he told me, quote, a really early stat, which is only three days worth of data, but users are adopting ios 18.1 at twice the rate that they adopted 17.1 in the year ago quarter. now, of course, i asked him if they're also tracking how many of those people who updated, if they turned on apple intelligence. he told me they are tracking this figure, but not disclosing. i will note, though, he did sound quite optimistic about getting the momentum numbers out there. and then, on that record september quarter for iphone, i

asked cook about how much of that came from increased 16 sales, versus more people buying a 15 model so late in the cycle. he actually said both lines outperformed their predecessors from the year ago quarter, telling me, quote, it's a combination that 15 was stronger than 14 in the year, and 16 was stronger than 15. plus, keep in mind, that the 15 pro and pro max also run apple intelligence. now, guys, the call is just getting started. i expect any minute now, we'll get some december quarter guidance, that could impact how the stock is moving here after hours. brian, back over to you. >> steve, we'll look forward to some of those numbers, as well. guy, a lot of numbers there. a lot, 15 max, 14 pro, 16, 18.1. >> moving around. >> here's the thing. i want to focus on the services number. >> bang on. >> i know it came in a little bit weak. it's going to blow your mind. >> please. >> apple's -- [ laughter ] >> what? >> just. >> i dare you. i dare you.

>> apple services business at $98 billion a year, their secondary business to the phone, is bigger than dell, bigger than dell's entire business. >> truth. >> and it gets no respect. >> no, i disagree with that. i think it gets a lot of respect. >> maybe too much. >> the valuation that apple gets is based on exactly what you just said. the reason it's trading at 31 times next year's numbers is because of that services number being 26.5% of overall revenue, which is a good thing. the bad thing is, it came in a little bit light of consensus. so, i think the market is trying to basically synthesize and digest this a little bit. i tell you, by most company standards, this is an "a" quarter. on apple, maybe it's a "c-plus," "b." i think the market's trying to figure it out. >> it's all relative, in school, guy was getting "a"s and i was

good with "c-plus," "b." i think it's a higher services business, so, if we -- whether this was a slightly weaker quarter, in terms of services, 11.9% suspect the high end of that services growth, that is exactly why this is -- i think it's more like 28 times, you know, '26 number, maybe that's the number you did at '25. i actually think apple has done find here, in fact, i think this quarter is fine. i think this company, again, based upon the tape we had t today, and some of the concerns the market has, you have to price any of this into apple. apple, i know the headline multiple is more expensive than, you know, seemingly it was five years ago, but it's no more expensive than it was five months ago or 15 months ago. i like apple here. i think the balance sheet makes it very defensive in an environment where suddenly people are questioning this rally in the nasdaq. i want to own apple.

>> the only problem here, there's no there there, as far as apple intelligence is concerned. when the stock took off on june 10th or so, it was predicated on this service was going to basically cause an upgrade super cycle. they said the september sales, but they keep growing their install base, which is great for them. you're talking about the hardware -- they are actually really a services company. the future of this company is really those fatter margins, but if you have this apple intelligence, you need developers to build on top of that. that's where they get the service revenue. so, if there's not this layer of apple intelligence that basically, you know, developers think is interesting, it's just going to take longer and -- i know gene is going to say something different, and he's forgotten more about this than i'll ever know, but you won't have the upgrade cycle until it comes, probably mid-'25, which pushes you out into september, october -- >> we're all pretty tech savvy -- maybe not guy. >> there's a guy wearing rubber

duckies. >> what's your -- does anybody here got apple intelligence? >> i do. i do. it's a joke. there's nothing there. >> no -- >> you did. do you? >> i wouldn't even know. >> no, sir. >> not me. >> i do not. >> so -- carry the one, 20% of us, 1 in 5 bothered -- >> he buys everything. >> i buy everything. i have a meta a.i. glasses on right now. >> probably shouldn't admit to, by the way. >> i love them. i try everything, we are just not the norm, when you think about the wall street types -- >> we're all early adopters. >> i have a vision pro. >> oof. >> sorry about that. >> yeah, i know. >> guy's got an 8-track tape player. >> i'm actually agreeing with what you're saying. none of us are saying, boy, that's a really compelling reason. we're not lining up outside the apple store -- >> it's a chicken and egg thing. waiting for the apps, you get the phone that uses the apps, so, i actually think for this quarter, guidance will matter,

for him to -- we'll see what tim cook has to say, because i don't think anybody is expecting huge sales up until now, but it's about, you know, the promise of it. so -- one little thing i thought was interesting, it doesn't really move the needle, but the air pod was a big beat. i think that doctor air pods. >> really? >> people use them now as -- well, that's true. it would be a hearing aid. for real. >> what? huh? >> yeah. >> that's -- >> think about that. >> tinnitus, too. >> if you use apple one, they just keep raising prices, not a lot, just like streaming, it's becoming this annuity business, you're not going to stop using. >> buy apple then. >> i'm going to need a new macbook. i can't get this to work. >> he's probably watching right now -- >> who? >> michael dell. so, you just blanked on his product. >> i love, dell. >> i don't care. coming up, more afterhours action. intel actually surging.

yeah, i said those worlds in the same sentence. we're going to talk about a stock down 60% this year coming up. plus, supermicro's super at de continues. who we make of this collapse in a once red-hot trader favorite name. what exactly broke here? we're back. this is clem. clem's not a morning person. or a night person. or a...people person. but he is an "i can solve this in 4 different ways" person. and that person... is impossible to replace. you need clem. clem needs benefits. work with principal so we can help you help clem with a retirement and benefits plan that's right for him. let our expertise round out yours. ♪♪

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welcome back. we have another earnings alert for you. this one is on intel. and intel stock doing fine, it's up not as much as it was, but up 9.5% right now, about two bucks. kind of erasing many of the losses for at least this month, but certainly not for the year. ceo pat gelsinger was on cnbc in the last hour, ahead of the conference call. seema mody has more on that, she also spoke with the cfo, i believe, so, a full intel day on intel, seema. >> well, a lot's happening at the company, brian. ceo pat gelsinger says while intel has gone through a challenging period, it has overachieved on its operational performance this quarter, and added that on the earnings call that it needs to fight for every

inch and execute better than ever before. now, one of the highlights of intel's third quarter results was data center revenue of $3.3 billion, a 9% increase year over year. intel did raise its forecast, it expects revenue in the third quarter to come between $13.3 billion to 1$13.4 billion. still well below what intel historically used to bring in, but gelsinger says the story is improving. >> but when you look at the underlying business, great progress on products, on foundry, you know, a beat and raise, so, obviously the markets are responding positively, but our view is, we have a lot of work to do, and we have a lot that we got done this quarter, so, a really solid quarter of execution. >> gelsinger added that in addition to amazon web services, intel's foundry added two more customers, and the cfo telling us that producing chips in the u.s. in its foundry division is on track to ramp in 2025.

now, when gig elsinger was aske about former president trump's criticism, he said he was frustrated the money had not been dispersed faster, but said he was anxious for whoever wins to the election to reinforce the impact of that chips money. shares up 9% in afterhours, but yeah, still down over 50% this year. the call did start, brian, i'll get you the details -- details as they come in. >> seema, thank you. i'm not going to make light of this, tim, this is a company that was -- everybody knows their little jingle and logo. >> intel's inside, brian. >> one of the most valuable companies in the world for a long time. powers this computer that i finally got working. and investors have just been -- i don't say wiped out, but they -- >> you can say wiped out. >> they lost half their money this year. i don't -- what -- is intel a value -- is there any value in

intel, is it a value trap? >> no, it's neither. it's a restructuring story. i'm hearing about $3 billion in restructuring, we're going to look at every unit. by the way, all this chip money is funny money. what's extraordinary to me is how much money is being thrown at the chip sector, how much money intel has gotten access to in terms of grants and been able to sell. and yet we hear about them burning money over and over again. you talk about -- it's been -- it's been devastating for investors. would you argue coming into 2024, intel was an awful story for investors? well, it's down 58% this year. so, you know, we're talking about a stock that's eviscerated so much capital, and a company that had basically -- you could have a business that had not do anything and they were going to dominate certainly in data center and most of cpu, and now they don't even have that, so -- look, i'm frustrated. i've owned this stock for periods where i've been destroyed in it. there's nothing i heard here other than data center is -- is

having some bounce year. it tells me that the days of this not losing money are over. >> yeah, the good news, as you said, coming in here, you know, value trap or something, i mean, they're performance on, like, their financial metrics has been so bad. in 2021, when they were at peak earnings, was $5.47, 57% gross margin this year, they're going to do 24 cents. they're going to do $52 billion in sales, with a 40% gross margin. so, the good news is, i think it can probably only go higher, you get that cash ininfusion, you sl stuff off. maybe they can remake this company for -- they were fabless forever, they can start turning manufacturing on, maybe that's it. the other thing, i think qualcomm probably buys them at some point. >> so, that -- so, guy, we have to go, very quickly, we have to move on. stock's back to 1998 price. the reason i talk about this value trap idea, people are thinking, oh, it's intel, it's got to come back. it's the name recognition

factor. knock has to ever come back in the stock market. >> they're not -- >> so did xerox. >> to dan's point, there does seem to be this little bit of qualcomm or other put. >> should be. >> almost the federal government -- >> we have to go, but real quick, this is the golden age of semiconductors, that's what i've read and heard on networks. they laid off 19,000 people a month ago and now another 17,000 people now. to tim's point. i mean, a lot of restructuring going on, in an environment where they should be growing, so, that's number one. and tim mentioned data center, he's right to bring it up. up 9% year over year, that's great. look at client compute, down almost 7% year over year and that's 65% of their revenue line, so -- yeah, the stock can go to $25, $26, nothing's changed. it's a value trap. we're going to stick with semiconductors and another company that is getting a lot of attention for all the wrong reasons. that is super micro. smci. yesterday lost a third of its value. today, there was no bounce-back,

in fact, it lost another 12% of its value. it all came out because its accounting firm left the company, saying it is, quote, unwilling to be associated with the financial statements prepared by management. shares of smci are now down 2024. i was talking about this earlier today. you know better than anybody, for a company like ey, highly respected, to leave a client -- >> uh-huh. >> is a giant deal. >> with that statement. >> yeah. >> yeah. i mean -- >> not like, ah, we're massaging it. >> you normally have that nice, you know, we're just moving on. now, and also, it makes it seem -- all right, if you are the rest of however many are left, whoever it is, there are sort of two big ones left, with the way ey left, would you want that client? so, this is an s&p 500 company,

and guy talks about that -- about, how did this get into the s&p 500, and it's not a big leap to assume they're going to be out of the s&p 500, what's that going to do for the stock, i don't know if that's part of what was going on today, but -- this is a -- >> am i hearing you right -- >> i'm long puts, so, but i bought yesterday. did not own them before. >> until super micro gets a -- and auditor, a good auditor, that blesses the financial statements, this could be a dog? >> yeah. yes. i don't know how long that will take. >> you're assuming that's going to happen. >> i didn't say it was going to happen. i said until. >> if. >> put a long-term -- we've had a lot of conversations about this company. i mean, it's remarkable, when it was announced they were being put in the s&p 500, it was march 8th. so, to karen's point, who was rigorous enough to look at what was going on? by the way, investment decisions

are based upon who is in and who is out of the s&p 500. >> correct. >> which is problematic, but we'll deal with that another time, i'm sure people from s&p would love to explain that. look back at where this started. it was a $10 stock, that's probably where it's going back to. with that said, one of nvidia's third, fourth largest customers is smci. just throwing it out there, if you want to do a little homework on your own. >> big story, still. all right, coming up, stocks selling off across the market today, with just days to go until the presidential election, and we're getting another read on the economy. you've got your monthly jobs number tomorrow. what matters more? we'll talk about it. plus, some major stock moves in today's session. big pops, some drops. we got peloton, mgm, carvana, all on your darar. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this.

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just getting some guidance from the cfo on the conference call also some comments on capital spending from amazon amazon is up 4.5%, which is $8.40. the other stock on the move, intel. intel is up 8.7% it was up more, still up, but it's not up as much as it was, so, two up, one down, let's tee it up, see what i just did there, guy >> that's why you are -- you are -- >> that's why i'm bouncing around show to show. all right, let's bring in deepwater asset management's gene munster gene, okay, you pick, dealer's choice, gene intel, amazon, apple, you pick one, and we'll just run off it >> i'm going to take the apple card here, brian >> okay. >> i think because it's the most fireworks going on >> what is your hot take, then you heard us talk about earlier about this apple intelligence and dan gave you -- he gave you a compliment, he said you forgotten more than we ever knew, or something like this it doesn't seem to be moving the

needle yet, it's super duper early. what is your take on apple a.i.? >> mutual admiration society with dan here, in terms of the take on a.i. it's really the substance of what's going on with apple we're really not going to see it for the next few quarters. i want to quickly frame that in, but before i get there, let me explain why the stock is drifting down. the guidance calls for revenue growth in the december quarter in the low to mid single digits. i interpret that as probably 4% to 6%. the street's at 6.8% they usually come in at the high end of the range, so, there's going to be some tweaks down for analysts tomorrow in terms of what the december revenue is on the positive side, they guided gross margin, another critical factor between 46% and 47%. usually they come at the high end of the range the street was at 46.1%. think of this as a slight guide down on revenue. earnings are probably goin remain unchanged what's important that's moving

the stock right now, effectively, this isn't what really matters what matters is the second question on the call, which is, what are you seeing in terms of iphone demand relative to apple intelligence tim cook said, we're three days into this, we're going to roll out more features in english-speaking countries, so, that's uk, canada, australia, u.s., not most of their markets, by the end of the year we're going to have to wait six months to see how this story plays out. >> apple is actually the 191st best performing s&p 500 stock this year. 191, i ran the search right before the show, and i believe, gene munster this is the first year in a decade where apple has underperformed the s&p 500 minus when it's up, when the markets are up, and apple's up, it has never underperformed the s&p 500 until this year. so, it's been a very non-apple type year. >> it has. and i think that most of the

people who don't own it tend to follow this path where it's a great company, but not necessarily a great stock. it's overvalued. we own it at deepwater, i own it personally i think we're going to see some upside i think that i'm always looking forward here, and ultimately, i believe that there is still upside in the numbers. i just want to frame in one piece that has changed if you would have talked to me two weeks ago, i would have said that the street -- i phone is going to go around 15% in fiscal 25 i've changed that, i think it's a 10% growth the street's at 5% so, i think there's upside, but not as much, i'm pushing some of that revenue into 2026 so, this is a -- a slight change from my perspective, but ultimately, i think if you look at the iphone over the next eight quarters, i think you're going to see some meaningful upside that's going to power this back to the top of the performance chart. i want to give listeners one important data point if they bring 8% of their base forward into 2025, now, whether that's going to happen or not, you get 15% growth, if you bring 4% over, you get 8% growth

and so, i think that there is plenty of room for upside, despite what we're seeing with the guidance in this december quarter. >> gene, tim let's talk about that services growth that some might have characterized as a little disappointing, but at 11.9% in a world where there is not the major refresh going on into a.i. talk about the correlation between that, again, refresh, and what that means for sales, and that base, and the margin on that base. >> so, the number -- it was a miss, there's no question. they grew 12%. the street was at 13%. i think what we are seeing is the iphone base continuing to increase they do that every quarter, they said that on the earnings call today, and so, that keeps propping up the services number. if you think about their business in total, the one piece that i do have a concern about over the next couple years is what happens with services, especially related to that google payment it's probably $15 billion of payment, that may get voided

out. tim, when i think about the services, i think the base keeps growing, everything is slowly up and to the right, with the exception of this basically black swan event that could happen hard to handicap all that, but it's -- i think the big picture on services. >> gene munster, great take there on apple i know long and strong, optimistic, we appreciate that guys, i have to give a shoutout, marco at dell, i got my computer working, network issue marco at dell, he watches the show he emailed me, said, i want to help you >> didn't we have that conversation michael called marco up. what do you think happened here? >> i don't know, but i want to say, that's good, fantastic -- >> good for dell >> what else can we wish for >> a lot what are we asking for here, karen? coming up, big action from today's session. results in at peloton, mgm, and carvana making some major swings.

and a rough day for the overall markets and your money, ahead of a slate of potential market-moving things the election thing you might be aware of we're back right after this. (man) these men of means with their silver spoons. 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.

all right, we got some big

single stock moves today okay, you got peloton. peloton surging nearly 28%, there was a couple of things here so, they had slightly better than expected results this morning, they did raise full-year profit guidance, but they also named a new ceo. he's a former ford and apple executive, name's peter stern, as the ceo he's the creator internally of apple fitness plus meantime, shares of mgm, they fell 11%. casino and gaming company. it fell. expectations for third quarter profit and revenue coming in weaker than some had hoped, especially out of las vegas properties. and as we said earlier today, carvana nirvana the back of their -- don't >> no, just saying hmm >> on the back of their results, up nearly 20%. carvana posting earnings that peat expectations. they had record profits. the stock more than quadrupling this year.

what an amazing run adami. >> yes, sir. >> because this company was $376 >> $10 >> i fell to $4. >> $4. >> now it's back to -- >> $260, i think >> this is a crazy stock >> karen's talked about this, and she's done a great job a lot of people were betting against this stock for a long time, so, i think a short squeeze is part of it,but people are trying to look at very fundamental first level numbers and say, you know what this is starting to make sense when they dig, they're going to find something else, but in the meantime, you're going to have stock moves like this. it -- at a certain point, it doesn't make a lot of sense on fundamentals but right now, it's all momentum-driven. probably going to continue for awhile >> just one thing worth noting is when it was down on its knees, it was less than a billion dollar market cap, $9 billion of debt. so, if you start to get into a cycle -- i would have shorted there, except that who wants to be short something with so much debt, but if it starts to work, then that's how you get a stock that ends up at $240

good for them. execution was excellent, as well >> yeah, but it's truly one of the most incredible stock stories that's not a penny stock i've ever seen >> it is, i mean -- both financial operation and operation. >> they sell cars. >> used cars >> used cars used car salesman. tough day on wall street the nasdaq dropping almost 3%, the major indexes falling into the red, which means down. magnificent seven sliding close to 4%. that's bigger than 97% of the s&p 500. by the way, do not miss cnbc's special coverage on election night, all night -- oh, we're going to trade markets now, i was going to promote my election night coverage -- >> you can do that >> just did that >> you could have done that more elegantly. >> you did go to georgetown, seymour. >> before we tease next week's election, let's just talk about the market real quick. tim? what are your thoughts >> by the way, i love the tie.

it mean, it is -- >> dark ducks? >> scary, it's halloween >> halloween convoy where the lead character's name was rubber ducky. election next week, the markets have been moving ahead of the election -- >> there have been -- excuse me, there have been earnings seasons where we have felt that the importance of the mag seven was disproportionate it just so happens, this is not going to be one of those periods, because we had other things going for the market. it's fascinating, because i think there have been some questions about the sustainability i don't necessarily have them, but if you look at the underperformance of the market, it's coming from the mag seven if you look at the action over the last couple of days, it's really been semis. it's been semis and the higher growth parts of the market so, i think if you look at the pain overall, it's a function of people needing any reason to take some risk off the table into next week markets are at all-time highs, folksing and there's nothing we got out of the mag seven, especially google and meta >> i know you talked about it

before, it's worth revisiting, it's not just halloween, it's the last day of the month. we've seen a .66% move in the ten-year yield this move, over half a percent that's not a lot for carvana, but for the bond market, that's a big move >> investors in the stock market were waiting for an opportunity to do that i was watching the show last night, you guys did a great job covering those earnings. >> my man. >> i didn't see anything in either one of those reports that should cause a 3% down move in the nasdaq to me, it has a lot to do with rates, it has a lot to do with skittishness about the election, that might not be resolved for weeks or so. guy's been mentioning this, with the s&p at all-time highs, why was the vix hanging around 20, you know and it looks like it's kind of breaking out here. we could have a rocky couple of weeks in the market. >> yeah. see what happens on tuesday into wednesday. all right, coming up, uber and estee lauder dropping after delivering their numbers this morning. the details that had both of these names down estee lauder lost a fifth of its value today. talk more about that next.

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the big beauty company down 21%. that is the worst day in estee lauder's history, as a public company. they pulled fiscal 2025 guidance they slashed their dividend, tim. weakness in china, but other than that, how was the play? >> yeah, no, and the play, apparently, we keep going to see this play over and over again, and there's usually a china scene. and that's what happens. but it's a sense that we're going to have to really possibly reassess travel, and travel beauty and their core business, which, at least, that part of it is the part that keeps getting marked down, so, you've got a management change, you've got leadership change. it gives you the sense, also, when jane lauder ran out the door, that even the insiders are running out, maybe there's a bigger issue i don't think that was what it is, it was probably a power struggle i as the "e" in the blicep acronym, this has been an embarrassment. it keeps trading down on the

same news and doesn't seem like there's a stop >> tim, thank you. coming up, our parent company comcast exploring a possible spin-off of its cable networks, that would include, folks, us. what that could mean for the future of comcast media. more "fast money" in two nefits and retirement savings. voya helps you choose the right amounts without over or under investing. across all your benefits and savings options. so you can feel confident in your financial choices. they really know how to put two and two together. voya, well planned, well invested, well protected. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo that moment you walk in the office and people are wearing the same gear, you feel a sense of connectedness

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comcast could be gearing up for some cord cutting of its own. leaders at the parent company of cnbc, msnbc and more said on this morning's earnings call they are exploring a possible -- that's key word, possible spin-off of some of their cable assets julia boorstin has more on the story. there's a lot of ifs, buts, maybes here. >> that's absolutely right, brian. there's a lot we don't know right now, but what we do know is what comcast president mike cavanaugh said today, talking about the possibility of a spin-off, saying, quote, we are now exploring whether creating a new well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks would position them to take advantage of opportunities in the changing media landscape now, there are a lot of questions about which networks,

including possibly cnbc, msnbc, e, bravo, and the golf channel, and if this end ups happening. he said they are not interested in m&a, but they are open to bundling peacock as to what drove the better than expected top and bottom line results in the quarter, the olympics generated $1.9 billion in revenue helped peacock add 3 million subscribers and grow revenue 82% to $1.5 billion. and while the broadband unit lost subscribers, it still grew revenue 2.7% now, looking ahead, cavanaugh stressed his confidence in comcast position, with the convergence of high speed wireless and mobile fiphone. he talked about the new epic universe theme park launching in orlando in may a lot of enthusiasm there. brian? >> julia, thank you. comcast, the only stock i own

through the employee stock ownership program. it's had a nice run. i did their analyst day in philadelphia a few months ago, came away pretty bullish about the prospects on the cable side, despite cord cutting, there's a lot of other business ideas here what do you make of this potential move, kind of a sensitive one on my side of the table. >> all roads lead back to netflix. and i think there's a reason why netflix was up today on a miserable tape, despite trading right around all-time high at a valuation that's probably extended they've gotten it right, so -- a lot of the media landscape is changing netflix doesn't have to change just has to keep operating the way they are, and that stock goes higher. so, i look at this and i'm > nfl. onetix >>all right, coming up, it is your final trade eliquis. eliquis reduces stroke risk. and has less major bleeding. over 97% of eliquis patients did not experience a stroke.

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all right, one more check on today's big afterhours movers. you got apple, it is down slightly, not a lot, down 2% amazon is up 5.5%, and intel jumping 8% right now those are your big moves, and stock stories tomorrow morning, but now, it is time, you know my friends, for your final trade. >> spooky. >> spooky music. organ playing. kick it off here, tim. >> happy halloween you have a little blood on your shirt. >> mine, my own. it's fine. >> starbucks brian niccol -- reed nichol played for the red sock. >> you might like this one, tim. sometimes you make the most money when it goes from really terrible to just bad it might be time for estee lauder >> oh, really, i like that dan? >> yeah, google. the quarter a couple days ago was actually pretty good might get better in the future

just filled in that entire gap from earnings. that looks interesting down here >> spooky music. we should let the music play a little bit just sit here in silence >> let the music play, shannon, i think was the name of the artist >> awful >> guy >> let's do this quickly >> thank you all very much thank you. my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you a little money my job is not just to entertain but explain days like today. so call me at 1-800-743-cnbc tweet me @jimcramer. people have it all wrong on wall street we celebrate halloween by saying trick and then treat th