example of maybe more corporations starting to think about adopting some of these assets. we'll see. >> yeah i mean gamestop is up 9% now. you wonder if a different flavor of meme mania might be coming back. >> yeah. retail sales tomorrow, among other things. and all the averages higher today. 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. tariff talk president. >> trump signing. >> a sweeping action on reciprocal. levies and promising. >> more are coming. >> what it will all mean. for companies bottom lines. >> and your portfolio. and confirmed. >> one of the. >> president's most controversial. >> cabinet picks winning confirmation to. >> lead today. >> what rfk. jr could mean for u.s. health care. and the stocks in the space. plus investors check. >> out of hyatt shares. >> are microsoft. >> bonds more attractive than treasuries? and what. >> is behind. >> intel's best week in 50 years? >> i'm melissa. >> lee coming to you live from

studio b. >> at the nasdaq on the. >> desk tonight. tim seymour, karen finerman, dan nathan and guy adami. we start off with the very latest on the. president's tariff. >> tit for tat. >> markets seem to breathe. >> a sigh of relief after trump signed a memorandum laying out his plan to impose. >> reciprocal tariffs on. >> other countries. >> but stopped short of actually. >> implementing any. the s&p closing within a whisker of a record. the nasdaq jumping. >> a percent and. >> a half. and the yield on the ten year treasuries dropping ten basis points. >> for more. >> on what we heard out of the white house today, we are joined now by eamon javers. eamon. >> hey there melissa. >> we'll take a live look. we've got tape feeding in right now of president trump and narendra modi, the prime minister of india. they are meeting at the white house today. just a few moments ago, they sat side by side in the oval office. took a few questions from the pool. we'll update you if there's any news coming out from that. they are expected to have a press conference here in just a short time. but earlier today, i was in the oval office as the president signed this presidential memorandum directing his government to conduct a study on reciprocal

tariffs. and the study will analyze the ways in which the united states needs to respond to tariff regimes around the world. the president in that meeting said that india is, in his view, one of the worst offenders on tariffs, charging too high of a price for american goods to come into that country. i asked the president what the timeline is on all that, because that's what the market wants to know. how soon are we going to see these tariffs take effect? he turned that question over to commerce secretary howard lutnick, who had this to say. >> our studies. >> should be all complete. >> by april 1st. so we'll hand the president the opportunity to start on april 2nd if he wants. so i think we'll be ready to go pretty soon. >> but first. >> and we'll hand it to the president and he'll make his decisions. but remember, if they drop their tariffs, prices for americans are coming down. our production is going up and our costs are going down. >> so, melissa, what does that mean in real terms? well, it

means there's a tremendous lobbying opportunity now until that april 1st deadline, when industries and governments around the world have the opportunity to talk to the west wing, make their case for any exemptions that they want to have. other countries can come to the united states and work out a side trade deal if they want. i think this is going to set off a massive wave of global tariff haggling between now and april 1st, and we'll see where we land on all that. but crucially for the markets, it means that the tariffs are not going in place today. and a lot of people as late as yesterday or this morning thought that might be the case. that is now not the case. and now you see what the market reaction is to that melissa. >> all right. >> eamon thank you eamon javers in washington. >> the specter of tariffs. >> increasingly becoming part of the. earnings conversation. >> of the s&p 500 companies that. >> have reported q4 results so. >> far, more than 60 have said they. >> are closely monitoring. >> the situation. >> many have been noncommittal about the impact. tesla, general motors, mondelez, cardinal health and others saying. >> it's too early to. >> quantify the effect on their

businesses. but chipotle did say that tariffs on mexico and canada would have an ongoing impact of about 60 basis points on its cost of sales. and as we discussed yesterday, ford ceo jim farley said tariffs would blow a hole in the u.s. auto industry and that so far he is seeing a lot of cost and chaos. so how can we expect. >> these. >> latest levies to shake out? we do have a one month reprieve, tim, but companies are doing their backup plans right now and trying to forecast. >> i think we're. >> we're waiting and seeing. >> i mean, companies. >> also need to. >> get out there. >> and just. >> like the federal reserve. >> they're going to say, well, you know, we are concerned about this, but until they happen, we don't really know. >> and that's really been the strategy. i mean, i applaud the white house for using the. ability to. >> use tariffs as a stick. >> whether this fall through and whether there's actual long term pain from relationships. >> that are. >> bilateral and long term. friends of the united states. i mean, you know. >> and if and if. >> that hurts the friendship, then so be it. i mean, that's the mentality here. and the white house has taken a very pragmatic view on whether whether these things actually happen. so far, we haven't really seen the follow through.

so ultimately, if i'm an auto maker, i'm absolutely concerned. and it's not as if the auto sector needed any more headwinds. and if you look at what the sars data. so the annualized us car purchase data, if you look at some of the margins, if you look at ford as a company, even as they have struggled with some of their operations that have been not around the world, but even in this country, there's a lot to be concerned about. doesn't doesn't surprise me that the auto sector over the last weekend was lobbying very aggressively. so i think we kind of wait. but again, i you know, yesterday was the was the day when the european reciprocal tariffs were going to come out. you heard 27 eu ministers say something on the tape and you heard a bunch of german companies. those are some of the companies i was watching because i own a couple of them. talk about the impact. it doesn't surprise me. companies are saying what they're saying. >> it's pretty. >> clear the market is looking. >> way past it. >> you say that. why do you say that? well. >> a. >> vix below 16 is pretty clear to me. s&p 500 all time highs. that's pretty crystal clear to me. i mean there seems to be a lack. >> of. >> interest now. and just even to talk about tariffs and what they potentially mean for the

market. so it's back burnered to tim's point, what today i thought was interesting and you sort of led with it. ppi today was. hot by any. and if you said to me again we play the game last night, it's going to come in much hotter than expected. i would say the market is getting lambasted and yields will go even higher. but apparently some components in the ppi that feed into the pce were soft. so people are really grasping at straws here. i'll say this again i do think rates are going higher. i'm shocked at how they performed today, but i think this was just a reprieve. >> so i think to your point, a couple of those things were medical services looking a lighter for our next big inflation. >> reading as. >> well as airlines ticket prices. so that may be partially what we were talking on our half time call about what what was weighing the airlines beside hyatt. that might be it even that all that together though i'm still surprised at how strong bonds were as the tariff thing. i mean, i agree, if india lowers their tariffs, that's better. but i do think we always talk about the animal spirits and how good that's been for, you know, just companies feeling

positive and willing to spend money to grow. and i think this throws a wrench into it. you don't know what your costs are going to be. it's hard to really plan. >> yeah. >> you know, one thing like an auto industry, for instance, you might see. >> a. >> surge of buying ahead of this if, you know, you. >> have the ceos of these companies. >> come. out and. >> say. >> you know, it's. >> going to blow. >> a hole. >> i think. >> it was that exact. >> quote. >> you know. >> one way or another. i mean, you also might see some activity where folks are buying. >> a lot of these. >> you. >> know. >> inputs to their manufacturing ahead of time, too, which might skew qanon growth to some degree. and if these reciprocal tariffs are put in place, and then you have a scenario where maybe the global economy starts to slow, if. >> you do get. >> into a tit for tat sort of trade war. so again, what karen just said, i mean, the uncertainty is probably pretty good. but when you think about the. >> playbook that we've. >> seen from the first trump administration, i think the baseline is most likely. >> when you. >> have this much. time for him to negotiate with these folks, the back and forth, the likelihood is that the worst case scenario is not going to happen. you know, but we mentioned sort of.

>> the lack of. >> volatility and in a broader market without question. but we talked about this last night and it happened again today. i mean, individual names not small companies. multi billion dollar market cap companies both to the upside and downside. post-earnings moving up and down 15 and 20%. i mean, the trade desk and i'm not picking on the company but stock was down 30%. i mean that was a 60 something billion dollar company. so you're seeing some dramatic moves in individual names. me, i just think it's a matter of time, given the backdrop that we talked about for the last six minutes before it makes its way into the market. >> i just think we have to be reminded that all this tariff talk and the speculation on inflation comes when we've had back to back prints that are awful. i mean, it's not there's no disinflation anymore. if anything, we really have inflation coming back and the cpi, what we learned is that the core services cpi 5.3%, i mean that's a nasty, nasty number. and if you look at the intermediate goods today in the ppi. so some of these things are trickling all the way through. there's very little to feel good about about what's going on with inflation, with trends that have nothing to do with tariffs. so i

think that's very important to guy's point on volatility. i think there's absolutely a relationship with the dollar and volatility. the dollar has given up. ground volatility has fallen. and if you look at where we are and it's part of you know what's going on. also in european and global stocks they're outperforming the us. and when you you know you may think when you own an etf that it's really just about the underlying. it's really about the currency and it's imputed back again. it will rally more if the dollar weakens against those underlying currencies. so global investing has been the best place to be to start the year. the dollar may have peaked, rates may. >> have peaked. >> the us. >> ex us. and again i won't speak on the merits. i'll just speak on the performance to this point. and you know when you also have the mag seven running out of gas and it's now the mag one and a half, that's another reason why you had seen crowding out for other investments when the mag was doing so well. i think this has everything to do also with the rest of the performance. >> so are we hearing those animal spirits and all those ceos are so excited about all those bank ceos we're talking about at davos. >> right. how everybody's. >> so excited. and there's been

a real change in mentality since the election. et cetera. are those spirits dying slowly. we're hearing the whimperings of the spirits just sort of fluttering. >> well if a lot. >> of them existed in tech and we can talk about the deregulation financials. >> and the potential for m&a, i mean, that's a separate thing. i think i would mention that jp morgan, at this valuation, it's not something that you want to go chase some of these banks that have seen a lot of appreciation and seen valuation, you know, bumps that they haven't seen in a very long time. but the tech thing and you talk about the mag seven, the mag one and a half, you know, if you start to see like all these companies, they put out their capex numbers. microsoft, google, amazon, they all got hit on the other side of those because there were big numbers. but yet revenue growth has kind of slowed. right? it doesn't mean that they say they're going to do 65 or 100 or 80 billion, that that's actually what's going to happen. and i think if you see a pullback on capex because you don't see uptake of this, you know, compute in the like, and you throw in deep sink in there, it's going to put pressure on, you know, like the cost of this trickle down. yeah, it does trickle down. and i just think if that capex comes out of

the economy, that might be the sort of thing that slows things up a little bit. so again, you're seeing it in some of the names that are playing a bit of catch up. and i think one example would be an applovin or some of these other names that have just gone ballistic, carvana. and that's where that sort of stuff. roku tonight after the close, that's where that's happening. but to me, that's not a broadening out and that's not a bullish sign for the market. >> all right. meantime intel shares they jumped 7% today bringing its gains for the week to 26%. the stock now pacing for its best week since january of 1975. i think i was starting his first job then okay. >> yeah. you know what? hold on. you're right. >> i was working like a carvel. i was making carvel cakes like fudgie. >> the whale. >> jinx. >> all right. helping to boost the. >> stock intel. >> that is, reports. >> that the trump administration is pushing the chip maker and taiwan semi to form a joint venture for chip production. earlier this week, vice president jd vance also promised to safeguard american ai technology. let's bring in patrick moorhead. he is the ceo at moor insights and strategy. patrick, great to have you with

us. jd vance may want to protect american ai, but intel doesn't really have american ai. at the same time, there's a real emphasis on bringing production here and preserving the chip industry on our shores. so how do you see that benefiting intel? because we thought for years now that that was going to be the trend that would help this stock. >> yeah. >> so politicians. >> as we know. >> fast and loose with what they say. >> and my interpretation. >> of what jd vance. >> says is very. >> consistent with what the administration wants to do. >> it wants. >> more manufacturing. >> in the. >> united states. and it wants to. >> sell more us. >> based chips. >> and if. >> you put those two. >> together. >> they would favor intel. not only is intel a us. >> based company. >> but it has. >> most of its. >> manufacturing here. >> in the. >> united states. >> and with its upcoming 18, a process. >> should be very. >> competitive on those large. >> chips. >> even with tsmc.

>> and you can imagine the pressure that. >> the. >> trump administration. >> would be. >> putting on. >> right now. >> on the nvidia. >> is the broadcom. >> the marvell's to motivate them to take. >> a second look. >> at this. >> we could also. see some. tax breaks. on manufacturing. >> that is done in the. >> us before. so i think all of those are. >> on the table. >> and i believe all of. >> those benefit intel. >> patrick. it's karen. thanks for being on. so intel as we all know is somewhat rudderless. and tsmc is obviously considered, you know, the premier name. do you think there's something to this. does this seem could this be likely. >> so i don't see let's say a tsmc acquisition for. national security. >> reasons and. >> keeping intel. >> an american company. but i could see. >> some joint. >> ventures as a. >> form of. >> financing and. >> potentially an intellectual. property sharing. of some sort

that could help intel. but let me be very. >> clear. >> intel, from my point. >> of. >> view, what i know. >> doesn't need. >> help on. >> a with. >> big chips. >> it could use some help. >> on smaller. >> chips that could. >> go to, let's. >> say, apple. >> or a. >> a qualcomm. >> intel needs. >> capitalization too. >> and as you've seen from some of. >> the. >> structures that intel. >> has. >> put up. >> with, some of the. >> 49% investments. >> from companies. >> that would be. >> a needed source. >> of cash. >> this becomes a homeland security thing. so the flip side of that coin is who's potentially negatively impacted by all this. on the chip side of things. >> i think. >> it's clearly. >> tsmc. right. they're between a rock and a hard place. they're in a good situation in. that they are the leading provider. of the. >> most difficult chips to produce. those are done.

primarily in taiwan. >> they have they're starting. >> to do. >> some of. >> that here. >> in the united. >> states, but they. >> are potentially. the biggest. >> loser here for sure. >> so is. >> this does this mark a turnaround? patrick, this stellar week that intel has had, are we going to say we've seen the worst for this stock or i mean what do you make of this run. >> so listen. the company. >> was trading. below book value. and any. whisper of anything. >> that could be construed negative was taken negative. and its stock has been driven to. >> the ground. >> i do believe. >> that the company has reached its low point or did reach its low point. one of the reasons its designs didn't go over as well as they. >> could have. >> was. >> because it was on a less than competitive manufacturing process. >> in fact, they. >> they fab some of. >> their chips. >> at tsmc. i think that's

changing with aetna. the biggest issue for intel right now from a market acceptance is that they missed the data center. i gpu market. somehow amd with a lot less resources would was able to get into this market. and intel as as you know, pushed back their roadmap a year because what was supposed to come out this year wasn't going to be competitive. >> right? patrick, great to get your take. thank you for joining us, patrick moorhead. so we don't have a management team a permanent management team at intel. they missed steps. so do you have i mean do you have been an investor in intel. do you have faith in it at this point? >> no. i mean i think we need to call it what it is. and dan has it in his acronym, i think for a good reason, which is, is that it won't take a lot to turn this thing around. but let's remember, we just had numbers from the company. i don't know, however long. and as patrick just pointed out, they pushed

out the clearwater you know, dynamic. their gowdy chip is not really ready. essentially the other one is being at least worked out internally. the dynamic here is this is a company 25 is now a transition year at best. this is a company that if anything, what we've heard from them over time is that they are not competing. and we've been very worried about cash burn. we've been very worried about this. a company that's been cutting costs, that's had to cut private equity deals with some big private equity firms. their ireland project, which i think is 49% owned by apollo for a big number, this is a story of a stock that if the headlines this week about tsmc, no way is that a takeover. i mean let's be really, really clear. and there's a lot more risk even in getting closer manufacturing bed with them. even in this country when we think about all the risks around tsmc. so, you know, i want to believe i own the stock. i own it from higher. i've also bought some lower. i mean, i, i believe there's an opportunity to make money in this stock. the news flow is not going to be good unless there's a major strategic change. this is without a ceo. rudderless is the right word. i think this is

a big week. you could fade this. >> yeah. and you know the tsmc thing i mean intel is in the process of building out fabs. that was a big project. you know that was one of gelsinger the former ceos. you know main kind of strategies if you think about it. you know i go back to like m&a and the potential for like some sort of deal. remember qualcomm had approached them in september. but that would make absolutely no sense when you think about the end markets that qualcomm serves, you know, 40% of their revenues go to samsung and apple. we just had patrick just speak to the fact that you know we know those end markets are really weak i don't know what happens for intel if you put those two companies together i'm sure there's a lot of crossover as far as employees and the like here. but qualcomm is a fabulous company. but it's just the wrong end markets for this company to get turned around. that would be intel. that would make a whole heck of a lot of sense. >> coming up, a number of names on the move after hours gamestop surging as a company considers some crypto investing. and wynn volatile on its results. the details on both next and they're not the only stocks we got our eyes on the headlines driving monster moves in a handful of names, and the latest on one cyber stocks return to market. cyber stocks return to market. do not go any (grunting)

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>> welcome back to fast money. we've got a news alert on gamestop, the meme stock popping after hours on news that it is considering investing in bitcoin

and other cryptocurrencies. kate rooney joins us now for the story. hey, kate. >> hey, melissa. so gamestop is evaluating this plan to invest in bitcoin and other cryptocurrencies. cnbc.com reporting this one according to three sources familiar with gamestop's plan, those sources say the retailer could still decide not to follow through with those potential investments, and it's still in the process of figuring out and evaluating if this makes sense for gamestop's business. it comes after ryan cohen, the ceo of the video game retailer, posted a photo earlier this week with michael saylor, the chairman of microstrategy, which is the largest corporate holder of bitcoin, one of the first to do this crypto investing strategy. although two people did tell cnbc that saylor was not involved in this decision. gamestop has tried to expand in the past into digital assets with crypto wallets at one point, but it shut that down in 2023, citing regulatory uncertainty. gamestop has had a volatile few years since it was front and center of the wall street bets and meme trading mania. the stock was up as much

as 20%. it's up closer to 9% now. back over to you. >> all right, kate, thank you. kate rooney. >> it seems. >> that for anybody who saw that picture on twitter, you would have known that this was going to be the next step and that the stock would pop at least this much on that news. >> and didn't we just i think we had a conversation about it. and i think one of the reasons you get in this fate is because people that are taking advantage of this, but i don't well, i don't see any compelling reason to buy gamestop, certainly not because they're going to foray into into bitcoin. if you want to be long bitcoin be long bitcoin. >> it also it cannot be a micro strategy. it doesn't have the balance sheet. it doesn't have it. >> does have a lot of cash. >> it has cash yes. >> but $4.6. >> billion of cash. but you know the hope that all right we're going to use our cash even though our business is losing money. yeah we're going to use our cash. buy bitcoin. and we really hope and think it will trade at a premium to the bitcoin that we own. that has to be the strategy. >> they can go out and buy apples. >> right right right. >> if you're telling me i'm going to go out and buy an asset

and i think it's going to go higher, go out and buy bitcoin, right? >> no. but but when you see them together obviously like a strategy hope of okay it trades at two times bitcoin. i mean i wouldn't short it. >> but why. >> should it. >> but why should it. >> insane. >> but you know. >> what's funny. >> and i agree with. >> you i'm. >> long bitcoin but but but saylor he's there i mean he's like bitcoin jesus i mean like you know what i mean. you'd have to pry it out of his cold dead hands. i mean like these guys at gamestop, they will not go back to elon. you remember? well, they just sold. they just sold their bitcoin in an effort to kind of make their numbers look better. so i just think you're going to have what do they call it. we can't know what was the hands the diamond hands the diamond hands. these guys won't have diamond. >> hands opposite of diamond hands. >> cole. >> we've got another earnings alert on wynn. shares initially surging after beat on the top and the bottom lines but now well off after hours highs. cnbc's contessa brewer joins us now to break down the numbers from the quarter contessa. >> yeah the call just wrapped up to melissa las vegas seeing healthy business against some really tough comps in the previous year. remember f one

launched. everybody charged a ton on the call. ceo craig billings said they saw about a $20 million drop in ebitda. if you compare the two years of f one, mostly because of room rates, they went down. but he pointed out they were still 50% higher than wynn's two closest competitors. also, by the way, vegas players really love slots. the amount they wagered on those machines went up 13%. and we heard that from mgm yesterday saying that it set slot records. so hey, that's good for vegas moving forward. and billings said the first quarter shaping up well, excluding the super bowl, which vegas hosted last year, you can't really beat that in macau. billings said january saw full occupancy in the hotels. healthy gambling, strong volume for chinese new year, although he said hold was choppy. that's how much of the wagers casinos actually keep because of luck. cfo julie cameron pointed out that wynn is in a strong cash position and it means dividends, buybacks, reducing leverage, all of that. good. a lot of focus on the call, melissa, about when al marjan in the uae to.

>> draftkings up after hours about 7.5% contessa. they're out with results as well. >> yeah. and their results miss top and bottom lines. they missed on monthly active users. however, they raised the low point of their guidance from 6.2 billion this year to 6.3 billion. so the range is 6.3 to 6.6 billion. and that does not include what everyone assumes is going to be fantastic results from super bowl. because of the eagles winning and it being such a blowout and the player parlay the props not really paying off the way that they could have, and certainly not in the way that we saw in the football season, where customer friendly results really cost the sports books big time. so that's probably why you're seeing the stock up as much as it is 6.5%. >> all right contessa, thank you. contessa brewer, what do you want to trade tim. >> i'll trade wynn. and by the way, if you want to own formula one and exposure to that own formula one, that's a stock i actually am long. so you don't have to own these companies that are actually done. well when formula one's gone through their streets. when is, to me, still a

macau story. and therefore i think we're, you know, certainly like las vegas sands, i think that's the number that we really want to see headline change on. and i still think you're going to get it. i think people that that are spending time in macau, all the checks i have, my sense is macau is heating up and it's heating up well. and it doesn't have to be china macro that does it. so that's the story. >> i'm surprised win is not significantly higher. i mean we're getting down to levels we saw in august of last year. valuation is compelling. this was a good quarter. so i think you buy wynn on to the extent that there is any weakness. and on an aside tim would be an amazing formula one driver. >> like he's got. >> so you think. >> he's. >> got the looks helmet would ruin his hair. >> but then he. >> was wearing. >> a helmet. >> off and. >> wearing a. >> helmet. >> as it is right now. >> so i mean. >> i just think. >> thank you guy i appreciate that. very nice. would you back my team? would you be like a sponsor? >> why wouldn't i? >> i'd be in the pit i'd wear, like the thing. >> on my. >> head. >> like the. >> wheels and stuff. >> have a lollipop and talk to.

>> you and your guy. >> all right, coming up, more of today's after hours movers. roku. airbnb releasing results in just the last hour. the details from those quarters. next. plus, the morning headlines that had shares of molson coors, mgm and crocs heading higher today. you're watching fast money live from the nasdaq market site in times the nasdaq market site in times square 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. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. at ameriprise financial we know our clients are so much more than clients. they're go-getters and game-changers, legacy-leavers and visionaries, healers and confidants. the goals that matter most to you matter most to us. helping you achieve them is what we do best.

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>> welcome back to fast money. stocks jumping today after president trump laid out his plan for reciprocal tariffs on foreign countries but stopped short of imposing them. the dow climbing 342 points. the s&p up 1% getting within two points of a record close. the nasdaq rallying 1.5%. some big stock moves from a few key names. molson coors up nearly 10% after reporting earnings and revenues that beat expectations. and shares of crocs surging nearly 24% after its own earnings and revenue beat. shares of meta further extending their record winning streak, the stock closing at another all time high, now up 19 days in a row. and papa john's surging more than 18% today. a qatari backed investment fund reportedly eyeing a takeover of the pizza chain. papa john's has been cut by more than half over the last three years. and shares of netflix hitting another all time high. that stock up nearly 90% over the past year and the first major tech ipo of the year. cybersecurity firm sailpoint

returning to public markets today. listing on the nasdaq. the stock price at $23 a share but closed 4% lower. and some more after hours action here. roku surging on its own top and bottom line. beats and applied materials lower as q2 revenue guidance comes in light. that was a lot of stocks. that was a whole lot a whole. tim tap i think you want to talk. >> let's talk about molson coors because it comes a day after heineken had great numbers. this is a case of beating a really, really low bar. and in fact they got back to their 24 guide. and if anything you're getting some sense that low to mid single digits in 25 is something that they can they can do. i think we know what's going on in beer. we know what's going on in spirits. there's pricing power issues. there's certainly some competition in terms of where people are spending their recreational dollars. i think you buy these names. i mean, these are these are commodities. this is cpg at its finest. there are multiples that they should trade at. and i think this is where valuations get pretty compelling. >> crocs. >> that was an interesting move. this is one from way way back when. but i mean they've done an extraordinary job. these were

really good numbers. the stock was up huge. and still it's not expensive. really really. >> you ever worn crocs? >> karen i feel like. >> you. >> have not. >> yeah it doesn't surprise. >> me, but your little your little guys have crocs. >> they have the sparkly ones. yeah, yeah, yeah. >> this pops and drops. is that what we're doing over here? >> no. did you have it? do you want to talk about a stock though? >> it's not pops. >> and drops. no. do you hear music? >> we had a pop. >> do you want. >> to drop something? >> i'm going to drop. yeah. hey, man, talk about the applied materials. i mean, this is one that i just find really interesting. it kind of goes back to some of the things that we've been talking about is like, you got this capex, you have reshoring, you have the build out of fabs. and this is a company that makes the machines that make the chips. and you'd think that they'd be having better guidance and better results. and so, you know it goes back to think about their biggest customers samsung some of their end markets not doing particularly well. but taiwan semi is also their biggest customer too. so at 11% of sales. so this is kind of surprising to me a bit of a value trade. it really doesn't trade particularly well. but there is a price for it.

>> all right. by the way, we are so excited about our first fast money live event, which takes place february 27th here at the nasdaq. >> yeah. >> if you have been waiting to purchase a ticket, now is the time to act. we just released a limited number of tickets first come first serve. so if you want to be part of fast money, live at the nasdaq and meet us, all of us here on this desk, plus a couple more february 27th, scan the qr code on the screen or go to cnbc's fast money to purchase your ticket. we are very excited to meet you, particularly guy. >> now think about this because there are a lot of procrastinators out there. tim is at times a. procrastinator. >> it's been known to. >> like christmas. but if. >> you looking. for a valentine's gift, you like. >> this. >> now you're talking. >> and i'm telling you, this is going to go like this. because people coming off the wait list. so don't wait. >> i tell you guys, there's an extra bonus for folks. would you show up in your crocs that night? because i know you love crocs. >> i don't wear crocs, tim. i don't wear them. >> valentine's gift. i think you got to reassess your

relationship. >> a lot of. >> i'm just going to go out on a limb here. >> you know? by the way, we did a psa. >> years ago. >> about crocs. >> if your crocs are dirty, first of all, you shouldn't be wearing. >> them in the first place. where you're going. >> with. >> them in the dishwasher. >> yeah. >> put them in. i've never done that. >> do you do that at carvel? >> i'm going to try that. no. >> we. >> didn't have crocs at carvel. >> wise guy. little tiny crocs in the dishwasher. okay, there you are. so sign up. get your ticket. coming up, the senate voting to confirm robert f kennedy jr as health secretary by a narrow margin. today, we'll take the temperature of the health care sector and dive into the policy impact straight ahead. more fast money right after this. >> missed a moment of fast. catch us anytime on the go. follow the fast money podcast. we're back right after this. >> at interactive brokers independent, aria's work with the. best research. >> and trading tools designed to help them. outperform the markets. >> meet them at interactive. >> brokers investor's marketplace for advisors advisors at interactive brokers. keep all they earn on our low cost platform with no ticket

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today robert f kennedy jr, passing a key vote to lead the department of health and human services by a margin of 52 to 48. kentucky republican mitch mcconnell, the lone senator to vote against party lines, raising concerns over rfk's history of questioning public health institutions and spreading scientific misinformation. so how concerned should investors be? as kennedy takes the helm of a $1.7 trillion federal health agency? angelica peebles has more on

this. angelica. >> hey, melissa. >> yeah. >> now that he's confirmed, the question is, what will kennedy do. as hhs secretary? his goal of making america healthy again is pretty broad. so will he focus on food, pharma? and what about vaccines? so after kennedy was sworn in today, he said that his plans are, quote, radical transparency and returning gold standard signs to the nih, the fda and the cdc. he said he wants to remove people from panels that have conflicts of interest. and president trump signed an executive order creating the make america wealthy again commission. it calls for understanding and reversing chronic disease in the us. one interesting nugget in that eo is that it calls for assessing the prevalence and threat posed by the prescription of drugs like ssris, stimulants, and weight loss drugs. in his confirmation hearing, kennedy called glp one miracle drugs, but he said that he doesn't think they're for everyone. and we haven't heard from this administration yet on where it stands on compounding, mizuho's jared holt today says that he sees the rfk led hhs taking a

fairly lenient stance with compounders. so something to watch there, mel. >> all right, angelica. thank you, angelica peebles. and in fact, we saw hims shares up by 27% today. for more, let's bring in len yaffee managing director at capital management. len, great to have you with us. >> thanks so much. >> how does this change the landscape? i mean, there's a lot we do not know, but we know things are going to be very different. >> yeah. what rfk. talked about early on, i think is getting rid of some of the indirect costs spending by nih. i think he was looking at 4 billion of the 9 billion of indirect costs of their $35 billion budget. i he did talk about looking into the increase incidence as to president trump of autism. and also and this is to me very interesting looking at the increase in incidence in chronic conditions. and it's a topic i spent a lot of time learning about. if you look at chronic conditions, 60% of americans

today have at least one, 40% have two. they're responsible for a disproportionate expenditure of healthcare dollars. seven of the 15 top chronic conditions are directly related to obesity. and if you look at the rise in obesity over the last 60 years, it's gone from 10% of the population up to about 44%. interestingly, 2023 was the first year where there was a flattening or a slight decline in the us adult obesity rate, and it probably coincides with the approval of semaglutide in june of 2021. so although diet and exercise, which is harder, especially for older people, can help lose weight over time, i personally very strongly believe that the gop ones are the most transformative drug class that i've seen in my career, and that they will help prevent many of the chronic

diseases reduce morbidity, mortality, and costs over the next five years. >> so if you if you piece things together, given he wants to stamp out or stem chronic diseases, obesity is the source. we've got glp one. we've got compounded glp one, which is making this this drug class more accessible to americans writ large. and then you have the head of the fda, doctor mccarthy, who was on the board of a telehealth company. what sort of the conclusion here? is there a conclusion to be made? >> well, they're whether they're the right ones or not that i have. my conclusion is i look at the fda rules, they're called 503 a and b that relate to compounding. and they very clearly state that when a drug is no longer in short supply, compounding is not allowed. the compounded drugs are not as fda regulated as are the branded drugs, and they're not fda approved. tirzepatide lilly's drug is off the shortage list.

semaglutide is still on the list, and there's an fda decision due out, i think, march 19th as it relates to appetite. so my own personal expectation, if history is any guide, would be that compounding should not be allowed as the drugs are no longer in shortage, and that the branded companies lilly and novo in this case should be allowed to sell the drug without compounded competition. and again, as i stated, i think we're, you know, in the first inning as we approach spring training of the use of glp one, and it's going to do far better than wall street thinks, my own expectations are 50% higher than wall street's expectations in 2030. so i think it's a phenomenal class. i am not in favor of the compounding solution, and i think these two companies will be the leaders. >> it's karen, thanks for being on. so if you're as excited about glp one as i probably heard anyone, do you think

there's a scenario where the government covers the cost? it's very, very widely used and actually can help the cost come down of our overall healthcare expenditures? >> yeah, and it hasn't surprised me in the last year that lilly had to lower their expectations for glp one. what drives the use of glp one isn't obesity per se. it's the reduction in chronic conditions that, again, are associated with tremendous morbidity, mortality and cost. so as the data over the next two years, we had data in cardiovascular outcomes, sleep apnea. we'll get data from novo later this year in an alzheimer's trial. they'll be data in knee osteoarthritis, kidney disease, liver disease. as this data comes out and the insurers realize there's tremendous cost savings to be had, not just cost because of obesity, they will be forced to cut to cover the drugs for

reimbursement. the government likely will. and we'll see a much healthier america in the 2030s. healthcare costs will lower in growth. >> all right. we got to leave it there. thanks so much for joining us. appreciate it. len jaffe, what was interesting is that, you know, nestle's ceo was asked about the rfk confirmation and actually had to defend packaged goods. i mean, the ripple effects are can be everywhere, not just in the pharma sector, but just, you know, in food. he wants to attack ultra processed foods. >> yeah. look, making america healthy in terms of processed foods is sounds like a good thing to me. and i think let's wait and see how some of this policy goes through. and when i hear we're going to rely heavily and we'll try to re-instill like, you know, gold standard in science, that's great. i believe in science. so i would get back to the companies that have been most oversold here on the back of this, there are a lot of opportunities in the health care sector. and even if you look at the xlvi, it started to hold support. i would just go straight to novo though. i mean, novo is down 40% off of those highs. they provide two thirds

of the volume of gop. i realize there's been some concern around oral and some places where they're not competing. this is the place that you have the opportunity. >> just on the flip side of that, hims i see does have 34% short interest. so that. >> for sure. >> creates a very big. >> interesting, real quick pepsi, which was everybody's darling into 2023 ish glp one has come out. the stock goes down probably 35%. but you know you look at that and say is there value here on these sell offs. it might come in the form of pep. >> coming up. time to check out the disappointing results of shares of hyatt hotels dropping in what airline w weighing on the travel trade as well. he's back in two. >> in a world of uncertainty and disruption. how will your investments stay resilient? we've been navigating change for 125 years, always looking forward, anticipating risks and trusted to manage over $1 trillion in assets worldwide. solving for the needs of investors today and tomorrow.

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across the airline. the travel trade. marriott. hilton. down in sympathy. airlines solidly in the red today. keep in mind marriott was already down on lower guidance before. what do you make of this trade, tim? >> i tell you what i, i look at what expedia announced last week, and i don't know that there's problems with the macro on this trade. i think ultimately you get into a place where, first of all, costs related to hotel rooms, costs related to their businesses. i think there's a margin dynamic. i think this is an opportunity. there was a lot of these that were priced to perfection. airlines have had a tremendous run. i think we're talking also about something slightly different there. although, you know, dennis brought this up. those charts don't look great. and they have been trading stocks. but i think there's a fundamental story. the macro around travel, the macro around the service industry related to travel, i think remains very strong. and that's what we've heard. >> yeah. the airbnb is kind of interesting. you have the marriott, you have the hyatt. and then you look at what they have to say. airbnb, like the quarter was good, but the guidance was kind of squishy. and then you go back to expedia and they own the vrbo. and they had a lot of good things to say. so maybe there is some sort of bifurcation. >> i think the guidance was better than squishy. i think

there were more optimistic about 2025. we hear this thing over and over again, which i don't love the quarter being a little, you know, a leap year. >> oh, >> yeah. >> yeah. so i don't really love that. but no, i think airbnb that was a that was a good quarter. >> 164. if you go for crack, staff can put a chart back for march of last year. this level i think it's trading there now. this is where we totally broke down from in the spring. so theoretically melissa lee, this should be huge resistance here. >> all right. coming up, the ultimate would you rather a tech behemoth debt or both of our own, of our own us government debt. so it's either a big cap tech debt or own government debt? that is the question. we'll answer that question right after this break. >> in the world. >> of. >> investing, a beast lurks between the numbers. some watch from the safety of the

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>> next. >> if the. >> market is. >> becoming more. >> skeptical about. >> these types of massive. >> ai investments. >> and even punishing. >> companies that commit. >> to that type of spending, there may be the hyperscalers. >> will start dia

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declining and its high debt burden rising. interest costs continue to weigh on the government. so we ask, would you rather. >> would i rather i would rather the us government because they have the ability to tax. microsoft does not. and the microsoft bonds will trade with interest rates just as us treasury grows. so to me it's easy. >> there's not a question. to me it's us government debt. now the question is if you're looking for relative value, i mean we you know, tell me where the microsoft's trading and what durations and cetera. et cetera. but as a as a credit story the us government and again we can print as much as we want. we've proven that. so we're not going to default. >> we're the same. so let's move on to something else. no, no. oh really. >> i'm going. >> to take i'm. mr. softy. >> really? >> really. you're going? >> microsoft said the government can print in perpetuity until people start saying, wait a second. and so, you know, that's when things get a little dicey. and a lot of people a lot smarter than i am, which is not a high bar to think yields are going significantly higher. >> microsoft bonds. >> will trade.

>> that's what i was going to say i do i do have a comment then. then microsoft don't want to be there either. >> all right. >> up next controversial. >> next final trade. >> our to do lists. >> can feel. >> never ending. >> but i don't have. >> to stress about meal planning or. >> eating. healthy anymore. >> how hungryroot. >> hungryroot delivers healthy groceries with easy four ingredient recipes so you can have a healthy, home cooked meal in minutes. with hungryroot, you save hours planning, shopping and cooking. that's why 96% of customers feel less stressed after joining hungryroot healthy groceries and simple recipes. plus, get free veggies for life!

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and goal-based investing in solutions. it's no wonder we have a 4.9 out of five client satisfaction rating. ameriprise financial advice worth talking about. and even punishing. >> companies that. >> commit to that type of spending, then maybe the hyperscalers. >> will start dialing back their hardware investments. >> mad money next cnbc. >> final trade time. tim. >> happy early valentine's day, mom. >> oh, yes. >> yes. >> and let's go to formula one. that ticker is f wonk formula one. >> karen. >> i'm the best wife. i got my husband a card to give to me with stickers. sign here, sign here. my trade. even with this new hhs xlvi, i like that. >> happy valentine's day to the luckiest woman in the world. my wife. let's just say not microsoft bonds. how's that? >> you guys just watered down my

valentine's thing. my. >> was the mom. >> so what do. >> you got? >> guy. >> guy. >> luckiest woman. >> in. >> the world. >> yeah. >> do you have. >> a trade? >> pepsi. melissa. >> very nice. thank you for watching fast money. see you back here tomorrow at five. mad money with jim cramer starts right now. >> my mission is simple to make you money. i'm here to level the playing field for all investors. >> there's always a bull market. >> somewhere. >> and i promise to help you find it. >> mad money. >> starts now. >> hey i'm cramer. welcome to mad money. >> welcome to cramerica. >> icu with my friends. i'm just. >> trying to make a little money for you. my job. >> not just. >> to. >> entertain. >> but to put. everything in context. so call me one 807 43 cnbc or tweet me jimcramer. >> investing isn't. >> easy but it can be. >> a whole lot. >> easier and much less daunting. >> with a little instruction. >> the whole business of managing your money. >> is madenf