we do get some economic data and we will continue to monitor these markets after we have another down week. i think it is the third for the s&p. >> as lori mentioned, their questions about how much use companies are getting out of ai. we expect to hear some of that out of microsoft. >> in the meantime, have a great weekend. >> hear some of that out of microsoft >> we'll be watching in the meantime, have a great weekend, jon >> and have a great fight night. i'll be watching live in the heart of new york city's times square, this is "fast money." here is what's on tap. counting down to what might be the biggest earnings report of the quarter. >> no! >> yes, we are nvidia releasing its latest numbers on wednesday, what to expect from the quarter and even higher highs and the little known siblings that could emerge as a major force in the system under rfk jr what they could mean for medicine, plus palantir marks a

new milestone. it is game on for the uranium trade, and it's fight night on netflix. what tonight's big boxing match means for the streamer i'm melissa lee coming to you from the nasdaq. tim ymour and kari firestone since the election, more on that in a few minutes but first, what else, nvidia the a.i. darling gearing up to deliver third quarter results next week and wal street is champing at the bit for another strong report. analysts up on the chips giant ahead of wednesday's results wedbush seeing it climb. susquehanna, 180 all the way up at $200, that is 40% upside from today's close. can nvidia deliver another blow-out quarter with expectations so high yet again this is not the kind of action, karen, you love going into earnings

>> i don't love the analyst action the bar, raise the bar, raise the bar. i do like the down a lot -- the pullback not just today but the last couple of days. it hit 148 or 149 recently i like that more i think there's this sort of tension of the promise about a.i. and is it working and will demand peak, and then evidence to the contrary. and then you hear things like 100,000 chips today, right >> right >> i'm still optimistic on the story. i am long. i don't have puts right now. i'll look. they're not going to be cheap, that's for sure. i do think going into it right before the skew will be to the upside the calls will be more expensive than the puts. so i'll look at that i would rather have it be down in a few days. >> tim >> if you look at the semiconductor group overall they've been underperforming

they have been the stalwart in the space. i think that's interesting at this get back to what seemed to be the major drivers for the stock right now. where are we on production with blackwell, with hyper scalers and they have given guidance that guidance was fine we've had other readthroughs from the chips infrastructure space which hasn't been terribly good that outperformance in the charts is notable. i don't get the sense the street is as keyed up into expectations on this number for some of the reasons we've been talking about and, again, we have had the company be very clear to push back on any concerns around production side of it. so they can't really tell you how aggressively they see demand they'll do a better job of that here i'm sure we're not going to hear anything off on demand i think it's a more balanced setup despite the run in the stock, because i think expectations are lower >> eventually they have to fail

on earnings. eventually there has to be something, right you don't get to go into vegas and keep betting on one thing and have the hand perform. eventually -- but there's still 85% of the market. tim said it, every other stock that you look at in the sector, the chart is horrendous. this is the -- go ahead. >> no, eventually you will miss, but is the miss a function of analysts getting too hyped up over it and, therefore, they're setting the stock up for a miss? if they didn't ratchet up the earnings expectations, they would easily jump over -- it's the context. >> it's a point of reference karen is completely right. you would like them to talk it down the problem is every time they've talked it down in the past, it's leaped over them. and they've looked silly >> when you say the analysts talk it down -- >> i'm saying it the wrong way whenever the analysts put out their estimates, they've

definitely had a lower bar where nvidia leaps over it and they've looked ridiculous. because who should know? they should know how high that bar should be, in theory, and whenever nvidia leaps over it, they look silly. so they keep raising the bar so eventually nvidia has to fail. >> it's going to be a beat and raise here i mean, let's be clear >> it's just a matter of degree. >> i think it's really about blackwell ramping and hopper still growing, and i don- you know, yeah >> julie, jensen huang has had multiple opportunities to sort of talk down blackwell, talk down the demand, talk down the production issues, whatever the, and not one opportunity was taken. >> yeah, it sounds like he's very, very confident about the outlook. i think it's interesting to me in reading some of the research reports we've been talking about, i read one today, we

expect them to beat by their usual $2 billion on the top line, which is an astronomical number to beat by. i could only dream, right? what is important is what everyone is saying which is this relationship between expectations and execution, and so far they have been on the right side of that battle between those two, but when you have analysts just so regularly expecting this big beat and raise, it does create this challenge, this tightrope walk that they have to do i think the demand is fine, and i think the production is fine what i think is kind of an outstanding question for the long term, and this is where guidance will come into play, is what is pricing going to look like over the longer term? we know that these hyper scalers are starting to recognize that they need to be able to create an economic model around this investment and that's still a little bit uncertain, and so we kind of wait and see >> so, i mean, i agree with the beat and raise, but a beat and

raise can still trade down, right? we've seen that before >> sure. >> there's no floor guaranteed under there. jensen huang, besides running this company and being at the forefront of a.i., is also a master at expectations of wall street and, you know, what else can he introduce it was, well, we're going to have a new chip every year that was something locking in with the software he's really good at sort of moving to the next chapter of the story. >> right >> we'll see if he does it again here the bar is high for him. >> you mentioned the hyper scalers and their guidance, which does confirm the nvidia story, but nothing from the earnings report that leads us to believe that spending is in jeopardy for nvidia chips. there's also the other side of sovereign a.i., which we haven't even talked about. >> demand, building their own. >> from demand in terms of all the sovereign money out there particularly in the middle east who are going to build their own a.i. >> i think that's important. i think we know that there is kind of a gpu demand is supply

constrained for cloud growth it's just that simple. and so i think that's the story. but i do think it really is going to come down to what you're willing to pay for this company, and i think the growth is probably -- forget on a price to sales, but i think on a p/e basis, i think there's something that's actually at least defendable if you're out there right now long nvidia. >> it looks like -- so it's hard not to be bullish on nvidia. we've been talking about this. it's hard not to be bullish on nvidia, but one of those days, it's not going to be a beat and raise. and to karen's point, you can have a stock fall off. >> time-out. >> here we go. >> look out, steve i don't envy you right now >> i feel like you were pulling me in. >> you sold nvidia >> i did >> did you get back in >> no! i might be waiting for a sell-off to get back in, melissa! >> you are feeling like you missed it. >> i definitely missed it from 110 to where we're at right now,

and you're waiting and waiting for that sell-off to get back in >> let's say you got back in at 112. what would you do right now? would you sell >> i would be a seller that chart looks like it's rolling over and when you start to see 80, 85% market share turn into 70/75, i don't know if we're there yet. i think you have to start saying, all right, maybe there's other opportunities. >> i want to have julie pile on, too. all the ladies can really get after you. >> i agree it's really, really hard to feel like this can continue forever these rates are not sustainable forever forever. we've owned in other portfolios nvidia for more than ten years and all of us at the firm are looking at this very large position and wondering, what do we do with this? we recognize it's a market leader our cost basis is very low this is really hard to feel great for new clients coming in and buying our portfolios.

they're buying at this price today and that's where it feels not great as a portfolio manager. you really have to be thoughtful about, do i still feel great about the valuation now? would i buy this position right now? >> have you trimmed at all your position in nvidia >> not in a long time, no, i haven't. i just made the bet -- >> good for you. >> if you went home long, you bought it at this price. >> sure. >> so i'm affirmatively saying i will continue to be long >> if i can go out to 25 in at least a couple place that is have put recent upgrades and can get a low 30s p/e multiple on a stock, we know about the growth but, again, i look within that peer group and nvidia doesn't feel expensive to me i would bring it back to valuation. it's not going to go on forever, but by '25, and based upon the growth until then, 32, 33 times, it works >> all right our next guest is concerned about nvidia ahead of earnings

the ceo and chief investment officer at morgan creek management, $1.9 billion in assets under management. always good to see you >> hey, melissa. as i understand it, mark, you would personally sell nvidia here why? >> well, a couple reasons. i mean, one, all the things the crew was talking about, it's hard to stay on top when you're on top i'm old enough to remember that intel stock went up 20fold over ten years because their chip was going to revolutionize a.i. in 2000 and today, that stock is 63% lower than it was 24 years ago so you don't stay on top forever. and nvidia came along and met a gpu and now we have lpus innovation will keep rolling the thing i'm most worried about with nvidia, their third largest customer is about to get delisted that's a big story >> so you're referring to super

micro. >> yes >> so how does nvidia get caught up in this yes, super micro can be delisted how does nvidia -- how does that tarnish nvidia >> if it's your third largest customer and they actually -- don't have the capacity to be your third largest customer, what happens to your revenue growth and profits growth? we've seen this move before with nortel and cisco, that makes me nervous. >> hi, mark, it's karen. thanks for being on. i hear you let me push back a little bit. to the extent there is a supply constrainment not a demand constrain, so with the customers, if you look at what's happening to dell and some others, there's the belief those customers are going elsewhere and that demand would still be there. do you -- does that make sense >> that's a great story, and possibly is true but they're the third largest customer for a reason, and

that's real for me but i totally agree with you there is a demand story today. i think the thing that's not being talked about enough is gpus are really good for training they're not really good for inference. inference is the next level so companies like grok and others do and the next layer of huge demand in semiconductors, i believe, is going to be for inference-focused chips, new designs, new innovations, and i think the tech debt at nvidia is going to cause some stress could they go out and buy some of these innovators and take over those markets, too? maybe. hasn't historically been the way it's worked out for other people who are on top, but, look, i'm a huge admirer of nvidia as a company. i think they have great products i just think it's a little overpriced here. >> you make a pretty strong case against nvidia, mark your clients still own it so how

do you -- what's that conversation like when -- what's the conversation going to be like on monday when they call you and said you said to sell because they're going to lose the third biggest customer and all sorts of things and it's in my portfolio >> so a couple things on that. one, i spend most of my time now in venture capital i do venture capital in the digital asset space, things like bitcoin and companies like coinbase i still have a business that focuses on hedge funds, and we allocate capital hedge funds, and then we super size their 20 best ideas so one of those 20 best ideas happens to be nvidia still so it's a 5% position in that half of the portfolio, and i trust the process. those managers still have faith in it just like a number of the people you were just talking to. if it were me and i was the portfolio manager which i'm not, i would be a seller.

i trust the process on the other side of the house. >> let's get to bitcoin since that is your core at this point in time, mark. where do you see it going here it's above 91. i think that's more than where you see it being a fair value. >> you know this is almost our five-year anniversary, a little more than our five-year anniversary of when we were together in 2019 while i was on the show, i think bitcoin crashed 10 or 15%. what should we do? buy it well, you always say that. no, i do buy it today, buy it tomorrow, buy it next week i don't think you should buy it all at once. i think you should continue to accumulate the greatest, most powerful computing network the world has ever seen, and it is changing the nature of how we transact value i think that fair value today, as we're sitting here talking, is in the high 80s so we're right around fair value. that fair value will continue as we go forward, as new people get

involved there's been a huge game changer in the last week we now have a president-elect who has said he's pro bitcoin. he has senator llamas, who is amazing, saying that she will sponsor a bill to create a strategic bitcoin reserve, be a they want to accumulate 1 million bitcoin. let's let that number hang there a second it's closer to 18 million. you're talking 6% could be taken out of the supply, plus you have people like michael saylor will raise $42 billion to raise more. talk about unlimited demand and finite supply in the chips business you can make more chips. in bitcoin, there's only so many you can have >> mark, good to see you thank you. >> thanks, melissa great to be with you >> in case you didn't catch the graphic, 100k by thanksgiving.

>> that wouldn't shock me actually it does feel like there's a gravitational pull to 100. it broke 90 the other day but traded back under. that's an opportunity for it to sell off if it was going to and now it's right back up against there. thanksgiving, i don't know how far are we away from thanksgiving ten days >> gobble, gobble. >> call it some holiday this fall/winter. i would not be surprised coming up, palantir pops the top-performing name in the s&p 500 this year, and that's not the only move it's making. the details next plus, it's fight night on netflix. mike tyson takes on jake paul. what it will mean on the platform more "fast money" after this

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particularly after the last earnings report. >> believe it or not, i nibbled to a position i've been long and i can't justify the valuation at all. it's probably 35 times sales it trades probably two times i'm looking at the note here, he says it trades two times what crowdstrike trades at, in terms of a sales multiple. so i think it's a combination of the success we have going here we're talking about three, maybe four, even five successive quarters that's part of the story here. part of it also is truly where they seem to have the inside track on some of the choicest contracts in the world and i do mean the government contracts and i do mean the sense is these are some of the smartest guys in the room i hate the multiple. i've been long the name for some time i actually traded out of it a little bit after second quarter earnings and lamented every bit of that, and i've been trying to get myself back to where i was >> they're getting two index boosts because it was added to

the s&p 500 in september and now to the nasdaq 100. there's a little bit of the technical aspect of the run, julie, but the huge fundamental government contracts you mentioned, huge, but also the unrelenting demand for a.i., which is what alex cart, the ceo, has talked about. that's a big part of this. >> yeah, i think that's the narrative around that for everyone who missed out on nvidia, everyone is looking for the opportunities around a.i. that have been overlooked. this o longer is one of those plays. i would argue there are probably plays that are better for a.i. than this, but what i think is in the note tim was referencing in this is the company can grow for several years at 40% which is an acceleration from where it is now and still hold a 12 times sales multiple, which is high. that's a lot of good news that's priced in there. it's hard to feel confident saying i would recommend stepping into this right now >> i'm in the julie beil camp on this

do you know what didn't come up? the department of government efficiency, doge, 60% of revenues is from the government. do we think that's going up or down or getting haggled? a person like elon musk who is a tech savvy guy -- >> i would think where doge would say, wave some more in >> or maybe you're doing it for x and you have to do it for x minus 20%. things look pretty peachy when i look at the chart and all the aspects of it, that's the headwind i would worry about >> i don't own it. there's a lot of things i can't get to the math. if you want to do the value play, nvidia, relative to this that's where i am. coming up, netflix is ready to rumble. the stakes for the stream giant's move into large sports as mike tyson and jake paul get

ready for a major showdown in texas. plus, a brother and sister o as rfk jr. gets set to serve under president trump. you're watching "fast money" live more after this quick break. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out.

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welcome back to "fast money. ring the bell, former heavyweight world champion iron mike tyson going fist to fist with social media star turned boxer jake paul, 31 years his junior the event marks tyson's first professional fight in almost 20 years and has already broken the record for the biggest boxing gate outside of las vegas. no matter who comes out on top, netflix is shaping up to be the real winner. the fight available to all the streamers, 280 million plus, for no additional fee. a welcome change for boxing fans who would have to shell out for pay-per-view this is one of netflix's strategy, live sports, live entertainment is what they call it they don't have to pay for rights, and it can attract a lot of eyeballs. >> this is going to attract a lot of eyeballs. a push into the nfl as well and

i think by not charging you something is a way to garner those eyeballs i would hope that you could see the fight at a normal time not 11:00 or 12:00, but this is a home run for netflix and it actually, when i look at the chart, you could have said this was tops months ago. if they can accrue ad dollars based on this and the nfl and live sports, probably still worth a shot >> there's that and the content slate. season two of "squid games," "black dove. >> this recent run is a lot on this buy the rumor, sell the news, all right. let's say a new "star wars" is coming out it doesn't matter who gigantic the box office is, it's a little disappointing. i'm long i'm not going to trade around it i think that's what's happened in the last ten days >> i would argue that "star wars" has more fiction in it

than this fight will it doesn't matter. this is entertainment. call it what it is, and i love the fact that netflix is throwing themselves in the ring on this one. i do think that christmas day nfl football is a huge thing for netflix, and i think they have multiple levers to pull. we don't really talk all that much about gaming. i think netflix, and we spent time talking about a great week for disney and a peculiar but extraordinary three-year outlook that they gave with a lot of detail when i go out to '26 and i see netflix making 30 bucks a share to disney's 6.50 at half of the revenue and so a much more profitable business that i think possibly has more scale, this is what you're excited about with netflix. this is why the stock has moved. it doesn't mean i don't like disney i like the week disney had we're not talking about disney we're talking about netflix. it gives you some sense where they are in free cash flow and how far ahead. >> would you rather, i will pose

that question to julie disney was up 16%. would you rather, netflix or disney here? >> still probably netflix in this case. the way that i think about investing, i try to own the stocks that every other it's the last thing they want to sell they'll hold on to this to the end. netflix is that for all of the streaming bundles. i would say that even above disney if you have kids it's probably less likely. events like this make it so much harder for people to just decide to dip out and cancel their subscription i think the stickiness of this kind of event is critical for the long-term success and the valuation. all right. coming up, a pair of siblings seem to have caught the attention of rfk jr. what it could mean for the future of health care in this country and lau they plan to make america healthy again and the technicals and the trade next on cameco

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welcome back to "fast money. stocks falling to close out the losing week as the post-election rally fades. the dow dropping 305 points. the s&p falling 79 points. the nasdaq tumbling nearly 2.25%. shares of chinese e-commerce giant alibaba slipping after seeing a 60% bump. sales growth coming in below expectations and super micro shares with a late day comeback to finish in the green the one-time a.i. high flyer in danger of being delisted the stock down more than 85% from its march peak. karen, you got lured into the super micro story. you're out now, right? >> i'm out i sold puts -- >> so "fast money" of you. >> it really was >> it was unusual but we were talking that day wow, the more you read -- >> -- the worse it sounds. >> i don't know if there's some covering

certainly there's been a lot of money made to this point do you think they're going to have a hard time -- >> they have to get an auditor >> a good one. >> a decent, reputable one >> that's going to be very hard. getting the financials out if they hire one that will be good i don't have any skin in the game or opinion at this level. who knows? >> baba, tim, following jd's earnings >> it was a disappointing week to be invested in china but i've always said i think baba is a bottom-up story and i'm less concerned about the macro. i think they have levers to pull i do want to hear more about asset deals, spinoffs, things that have been big drivers for this company this is disappointing. i don't know that anyone who has been through the last couple years in baba and has traded it a little bit is feeling like

today's announcement was a reason to give up the fight. i think the china story will make it harder to make money here and there will be more trading opportunities. >> a sea of red across the board. the moves follow last night's announcement that donald trump has tapped robert f. kennedy jr. to lead the department of human and health services. casey and calley means are known for questioning traditional medicine they have medical expertise and could play a key role in the next administration's health policy queto has been reporting on the rise to prominence great to have you with us. could we see one of the heading, cdc or fda or any of the other agencies within hhs? >> there have been reports that casey means may be on the list

of considerations for the fda. >> and so what is their connection to rfk jr. and do they share a lot of the same ideology how much overlap is there? >> i think there's quite a bit of overlap these are kind of rfk proteges they have a disdain for corporate influence in regulation like big food and big pharma and think there's a big conspiracy to keep americans sick and they want to address that >> what do you think is the biggest -- you know, you have been talking to a lot of professionals, a lot of, you know, analyst, et cetera what is the biggest concern about this ideology and what it could mean in terms of medicare, when it comes to drug approval what is the one thing that sticks out >> i think it's really the question of rfk. if he gets to be confirmed the secretary of health and human services, he would have broad oversight and could get in the

way of drug approvals and make higher walls for pharmaceutical companies to get their drugs approved >> in terms of the means, what have they done so far in the pursuit of this ideology some of their thoughts align more to the left, where do they fit in >> i think that's what they've been most successful at is getting these talking points and ideas that are traditionally left, adding in outrage and make america healthy again, maha, in line with maga, they've create this had groundswell of support for the ideology, which was a big boone to the whole movement and to rfk specifically. >> let's say the means work their way in, isabella, i'm

kurpous how quickly can the wheels turn in terms of actually putting some of that ideology to work >> i think we don't know i think it depends, the people they choose to surround themselves with and staff the agency with. i think if they decide to make staffing cuts, that could kind of gum up the wheels in some of the usual work these agencies and departments do but we're expected to get more indications soon >> isabella, thanks so much for joining us it was a fascinating profile of the means siblings thanks for sharing it with us. isabella cueto we saw a lot of reaction across the board -- vaccine makers. gsk got a downgrade from deutsche bank and it cited rfk jr that's the extent we're at >> it's huge biotech and a lot of vaccine

exposure just since four days ago it's down 10% this is an enormous move. it hasn't moved this much. we've had one day in 2022, but since the pandemic, march of 2020, which ironically set up one of the great sort of vaccine runs for this space in a while this move is enormous. i'm long this is painful. i'm not a seller here. >> my thought is you should be a buyer as well as anything that sold off on the rfk headline we don't know if he will be confirmed. it's probably better than 50/50. better than 60% chance he's also on record saying he's not totally anti-vax >> he's okay with the ones already approved it's the ones coming in the pipeline might not make it >> he wants a wealth of information out there. if vaccines work for you, and this is what he said on record the last couple of days, if vaccines work for you, i don't want to take them away from you.

but don't we want as much information as possible? >> of course, of course. but if you install people at the fda who are skeptical of vaccines as well -- >> sure. >> -- it means the pipeline -- if you're on mrna, moderna, let's say, and your bread and butter is vaccines and you're developing four other vaccines down the line for whatever it may be, even cancer, those -- >> now you want to go to tim, but think about who funds the fda? that's a part of the means twins or whatever it is, siblings, so it's a part -- >> they want that pharma money out and taxpayers to pay >> i'm going to have you fund the fda that's making the decisions on whether you get cleared, people would say, that sounds ridiculous. that's what we do. >> it's over 40% of the budget from pharma. >> based on the last 24 hours,

people have made those moves i'm not even sure that this group knows what their views are. i think there are some fundamental views on where americans and how they've been treated in the past and the ability to choose and certain corporates that have dominated i don't think there's any disputing that i would bring it back to the trade and talk about tim's pfizer, is pfizer getting sold off again on vaccines when, in fact, we've already sold off their vaccine business 15 times. and if you look at where they were, a $54 billion business in 2021, i think we know why. and by '26 it's at least projected to be, even before this news, to be a $22 billion business oncology is growing 60%. those are the kind of opportunities i think for investors and for traders that i think this kind of volatility is interesting over the last few days >> julie, are you a buyer of this weakness in health care >> yeah. absolutely what a luxury we have to be able to turn down all of the scientific advancements we've had in the last, i don't know, 100 years, that have saved millions of lives.

it's ridiculous. i really genuinely believe that we will continue to see innovation, a major resource we have in the u.s. for our gdp and such large and important industries this is a little bit overextended hype and probably a lot of the anxiety of what people are feeling with some of these appointments, i think that's manifesting emotionally in this market coming up, the technical setup that could lead to nuclear gains for uranium producer cameco and what's next for the red-hot industry plus a rip roaring roundf owhat to expect from retail earnings next week, whether you should shop or drop these names right after this

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welcome back to "fast money. cameco hovering near all-time highs despite the pullback in green energy stocks. one is at a major inflection point. the chart master out with a note today saying both short and long-term charts show the potential to go even higher, his price target is 65 and that is 20% higher from here tim, you've been a supporter of the stock, and it's been volatile and, in fact, you could have bought interday highs in

cameco somewhere with a five handle, a 50 handle, that is, and i think you look at where the stock is now there's been a lot of news flow and there's been a lot of earnings and there's a dynamic this is not a cheap company, but when i look at the news and the headlines today that russia is restricting enriched uranium to the united states, no surprise there either, it is a dynamic that is setting the table. i also just think the conversation we're having about utilities all the time and the grab for power, there are utilities out there that are short uranium, and i think that's part of the story >> when you think about the uranium story, what's the biggest problem with nuclear reactors is it takes too long to build. if you have a trump presidency that lowers that regulatory hurdle, then instead of 20 years to build a new reactor, maybe can you bring that cut into half because in other countries it takes a quarter of that to bring a new power plant online >> and if you're a believer in the a.i. story, you need to be a believer in the energy side of the story as well. you have to. >> we need to solve that if the a.i. story will continue

>> julie, where are you on uranium? >> yeah, no, i agree all of the things are conspiring we need more power on the grid it can't just be renewable power. it needs to be base load power this is the cleanest and clearest solution, you know, even though we have heard about the trump agenda being anti-climate, any movement towards any nuclear power will be beneficial for the climate for sure putting pedal to the metal next week, what to expect from walmart, target, tjx and more. here is a sneak peek at the cramer cam, speaking with the dover ceo. catch the full ceo on "mad money.

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♪ ♪ welcome back to "fast money. a number of consumer names, walmart kicking things off on tuesday followed by target, tjx and gap in the days that follow, the numbers come just ahelped of the holiday shopping season. ho-ho-ho cnbc's courtney reagan and what is to come a big week, court. >> ahead of black friday, thanksgiving, a little bit happening in retail right now. overall market watchers, of course, want to know if this uncertainty that executives have talked about for months and quarters now has alleviated at

all in the early days of the fourth quarter, now that the u.s. election is over. beyond that, like mel says, all about the holiday forecast walmart is a proxy for the broader consumer environment the street is expecting comparable sales somewhere above 4% walmart has spent billions of dollars investing in technology and employees it's seemingly paid off 61% year to date for walmart investors care a lot about what walmart executives will ultimately say about the consumer consensus for target, comp sales would be the second straight quarter of gains after four straight quarters of falling sales. bofa says not so fast. we're not sure sales grew. we think target might have been a victim of sales deceleration in the quarter based on data they're looking at a.i. data shows a slight uptick in traffic for the quarter so it could be close home depot's results ex seepeded expectations but they're fight to go regain sales growth. expect a similar story from lowe's which has posted

financials slightly weaker than the larger competitor as of late, at least a.i. data does show a 4% drop in lowe's store traffic in the third quarter. now citi and tdcowan endorsing tjx. it's hit all-time highs this week it seems to be a name that keeps hitting on all lists regardless of what's going on the share performance hasn't been as strong as walmart but it's very steady as she goes, too. >> i guess there's one fewer week in this holiday shopping season because thanksgiving is so late, but black friday has started. it started last week >> it started last week. to be fair, those october sales, which were captured in some of the retail sales data this year. but if you look year over year, they were in it last year, too it elongates the season. you get the sales whenever you can get them but does confuse the numbers because of the early start. >> we will be able to get a read in terms of intent to spend -- >> exactly exactly, depending on the amount of details we'll get on october sales. it's how much they want to reveal to the granular effect of

those sales particular in that particular quarter >> how has the game really changed? it used to be black friday and now cyber monday and now cyber is any day -- >> have we begun >> haven't you been getting emails about black friday, like last week? >> did i miss it >> i am going to get the numbers wrong but it's like 40 some percent of americans have already bought one gift. >> i have. >> it's working. how it's changed is it's a little bit all the time, earlier, more spread out i think because you can buy online now and the fact with buy online and in store, sometimes you have this really big time right at the end of the season which is making some retailers nervous, like melissa says, because there's five fewer days. they're a little bit worried about the inventory, having it in the right place at the right time especially if people are waiting since you had this early rush and then this lull and maybe a big lumpy end. >> in terms of tariffs, it's going to be a huge topic on the conference calls what is the ability of these

retailers to stockpile you don't want to have inventory yet you don't want to pay the tariffs. >> i don't know that anyone is opening their play books they're all saying we're watching, we're preparing. if you talk to the smaller retailers, the nonpublicly trading retailers, they can't stockpile. it doesn't make sense. i asked a question of a seller of artificial christmas trees. it doesn't really make sense we're looking right now into who we can help lobby us in d.c. to get categories exempt or hopefully this is a negotiating tactic we can't really stockpile. we're just crossing our fingers and hope this works. and many of these retailers, small or large, diversify away from china, to be fair, before tariffs under that first trump administration, but it takes a long time, and sometimes it's not worth it with the exnspee, the time, the expertise. >> court, thank you. always good to see you courtney reagan. coming up next, "final

trades."

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time for "the final trade. around the horn, julie >> again, this health care trade is overblown west pharmaceuticals >> tim seymour >> time to get busy holiday shopping >> you are known for leaving it to the very last minute. one year i remember -- >> i still have to do last year's let's air this on national cable tv i appreciate that. let's blow this up with ccj. >> no, but you're resourceful. you got it done. >> thank you i'm good >> all right, i'm with my girl julie. i think overblown.

i like the ibb here. >> steve grasso? >> applied digital i looked at this because it's a smaller company but nvidia gave them an injection, took a small take in it, and they're a customer of nvidia's, so i don't think nvidia is going to allow them to go out of business, just taking a hey, i am cramer. friends, just trying to make you a little bit of money. my job is not just entertain, but also teach. 1: -- oh yeah, that's right. president-elect donald