amgen's quarter pretty much fine, but it is that dispute with the irs and not it's first dispute, the stock is being driven down more than 5% amgen says the irs wasn't $5.1 billion in a dispute over the way it allocated profits between the u.s. and puerto rico for that period. it could add interest on that, as well as a $2 billion penalty. that's on top of the $3.6 billion they're already in dispute over from back to 2010 for the same issue they are contesting that they say they play to contest this vigorously, but they're also being audited for to 16 through 2018 amgen says this will take years potentially to play out. >> man, an irs audit is never fun. >> amgen has a home run relative to the peer group. if you look at the numbers they just announced, you know, i think the product guide is still something that's very impressive look, these substantial in terms of a hit on profitability. i think it's something you have to weigh these things tend to work themselves out somehow, but the stock down 5% right now, without knowing the degree of that inquiry, i would just say it's time to ta

amgen is the play. to sort of spread your chips ibb. >> in the ibb it's worth pointing out that moderna and biogen are responsible for 70% of the pain you've had in that index. again, at one point moderna was close to 8% of the ibb biogen's been a disaster since announcing their controversial alzheimer's. if you look at ibb amgen and gilead have been stalwarts and those are balance sheets that in this environment are not high-flying biotech stocks, they're actually very conservative companies >> coming up, will april showers bring may flowers for bitcoin? after a double-digit drop this month. we'll break down what is next for crypto but first verizon shares dropping today what is behind this tradlor?e we the trade on that name and more right after this break ♪ i want ♪ (production manager) ♪ i want the whole world ♪ (supervisor) ♪ i want to lock it all up in my pocket. ♪ (ceo) ♪ i want today. ♪ ♪ i want tomorrow. ♪ (warehouse worker) ♪ presents and prizes and sweets and surprises... ♪ (driver) ♪ of all

i amgen fer casarian and i work here at san francisco international airport. the idea for therapy dogs got started the day after 9/11. an employee brought his therapy dog to work after 9/11 and he was able to see how his dog was able to relieve passenger's jitter. when we first launched the program back in 2013, our main goal was to destress our passengers however what we quickly found is that our animals were helping us find a way to connect with our pang. passengers. we find there are a lot of people traveling through the airport who are missing their pets and who are on their road a lot and can't have pets and we have come in contact with a lot of people recently who have lost pet. >> i love the wag brigade. >> one of my favorite parts is walking into the terminals and seeing everybody look up from their device, today everybody is interacting on their cell phone or laptop and we can walk into the terminal with a dog or a pig and people start to interact with each other again and it's on a different level. more of an emotional level. >> i just got off an 11.

i amgen fer casarian and i work here at san francisco international airport. the idea for therapy dogs got started the day after 9/11. an employee brought his therapy dog to work after 9/11 and he was able to see how his dog was able to relieve passenger's jitter. when we first launched the program back in 2013, our main goal was to destress our passengers however what we quickly found is that our animals were helping us find a way to connect with our pang. passengers. we find there are a lot of people traveling through the airport who are missing their pets and who are on their road a lot and can't have pets and we have come in contact with a lot of people recently who have lost pet. >> i love the wag brigade. >> one of my favorite parts is walking into the terminals and seeing everybody look up from their device, today everybody is interacting on their cell phone or laptop and we can walk into the terminal with a dog or a pig and people start to interact with each other again and it's on a different level. more of an emotional level. >> i just got off an 11.

. >> amgen that giant tax liability that surprised me.wise, they had really good numbers for their migraine drug. this market hates disney so much 110 is my next level for my travel trust invisalign, people decided, you know what, our teeth look fine even though our masks are down that was a big disappointment to me i didn't like that one >> deferrable procedures you could -- you'll come back to >> i was thinking about using invisalign, but with that number i'm not going to dwruz it use it if your teeth are spreading, you have to huge it. thermo fisher, a lot of people said post-pandemic into epidemic, you don't need thermo's machines. there is life science out there. >> talking about losers, dpz and stanley works. >> stanley works has integration -- you know, they don't get -- half of the stanley works stuff is on boats somewhere. >> prior to 1,250 for the year, now 950 to 1,050 >> there's a level to buy that stock. i just haven't found it. people feltscher win williams had a good number. that was was passing on costs. jim is doing a goo

which is equal weight is starting to outperform the ibb, which is more heavily weighted to things like amgen and gilead and generon. that speaks to the brep breadth of the number of stocks, it's the textbook beginning to what should be an important bottom. >> mike gave tony his blessing, how about you. >> one thing when you are looking to benefit from decay these are investment strategies. don't think of this as a one and done trade as he suggested, once you've done this and seen the momentum build you're going to be doing more trades essentially to maintain your thesis and maintain that investment strategy. >> all right for everything "options action" check out our website and while you're there sign up for our newsletter here's what's coming up next. >> announcer: still to come, this week the president announced the largest ever tapping of the nation's strategic petroleum reserve, few know better than professor khouw what that really means, former oil trader himself has a strategic plan for you to capitalize on it plus calling all "options action" fans, reach into your pocket, grab your ph

we are going to get a final check on the markets in just a second i just want to mention amgen in termsrday the company disclosed that the irs wants some money, $7 billion, with a "b" in unpaid taxes and penalties from the latest salvo in the dispute over back taxings related to amgen's operations in puerto rico. but that immediately hit that stock, and it says 5.1 i see 7 here maybe it's a dispute as to exactly what the penalties on it are. join us tomorrow "squawk on the street" is next >>> good thursday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer david faber is on assignment the bulls try again after numbers from facebook, qualcomm, paypal, pinterest are better than expected or provide a reset. all those names higher today q1 gdp goes down, first decline since 2020 gdp does unexpectedly decline in the first quarter. meta surging on better-than-expected profit. we'll dig into tha

i amgen fer casarian and i work here at san francisco international airport. the idea for therapy dogs got started the day after 9/11. an employee brought his therapy dog to work after 9/11 and he was able to see how his dog was able to relieve passenger's jitter. when we first launched the program back in 2013, our main goal was to destress our passengers however what we quickly found is that our animals were helping us find a way to connect with our pang. passengers. we find there are a lot of people traveling through the airport who are missing their pets and who are on their road a lot and can't have pets and we have come in contact with a lot of people recently who have lost pet. >> i love the wag brigade. >> one of my favorite parts is walking into the terminals and seeing everybody look up from their device, today everybody is interacting on their cell phone or laptop and we can walk into the terminal with a dog or a pig and people start to interact with each other again and it's on a different level. more of an emotional level. >> i just got off an 11.

and amgen. better than first quarter results, but the stock is falling. the irs is seeking $5 billion in back taxes related from profits in 2013 to 2015 between the u.s. and puerto rico where most of the manufacturing operations are held. >>> back to the markets. looking to once again mount a comeback amid the heavy selling this week. futures right now are indicated higher dow jones industrial average indicated higher by 380. s&p higher by 72 nasdaq higher by 300 points. that's good for a little more than 2% gain it could erase much of the losses this week there is a long way to go until the closing bell sounds at 4:00 p.m. the three indexes are in an you will hill battle to close the week with a win. for more, let's bring in matt orton. matt, thanks for being here with us when you look at the broad earnings picture, you actually see a lot of pretty good reports from a number of companies, yet it seems some of the bad ones, netflix is top of mind, seem to override sentiment of what is going on at a company by company picture and then the macroeconomics he

>> yes the -- amgen and merck have been trading way below pe multiples compared to the s&p and making a nice curb right now and mall reits are suffering another collapse of economic competence. there's 90 million millennials replacing 65 million genx-ers. a lot of people to give shopping experiences to. >> and all things people hate and bill smead giving a case for them appreciate it. good to see you today. >> thank you. >>> on that note turn to the bear case. rising rates definitely spoiled the run of the once hot housing play especially home improvements pandemic darlings. lowe's and home depot down 20% is the fix-it boom really over jer names to hold back in october, my next guest, end of stimulus checks and rising material costs would lead to a slowdown and it absolutely has welcome back director of research at a capital group. great to see you, laura. i don't know whether we price in bearishness or are things looking worse on the horizon. >>> thanks for having me, kelly. a couple things i did not contemplate when i down graded the stocks late last year, as you mentioned. i did no

fans but you don't play in new york anyway amgen reports this week. i like amgn, melms >> fun to be all here together in house thanks for watching "fast. see you back here tomorrow at 5:00 for more "fast. "mad money" with jim cramer starts right now. my mission is make you money i'm here to level the playing field for all investors. there is 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 make friends and i'm just trying to make you some money. my job is to educate and teach you and call me at iphone phone -- at 800-743-cnbc or tweet me at jim cramer. it is tough for companies to succeed in this environment. when you do get a winner, it is worth taking a closer look at to to see how that winner pulled it off. before we go into a success story, the price of failure is high you can't deliver value, you might lose your control of your own company. twitter just sold itself to elon musk for $54.20. many think this is another billionaire van

i amgen fer casarian and i work here at san francisco international airport. the idea for therapy dogs got started the day after 9/11. an employee brought his therapy dog to work after 9/11 and he was able to see how his dog was able to relieve passenger's jitter. when we first launched the program back in 2013, our main goal was to destress our passengers however what we quickly found is that our animals were helping us find a way to connect with our pang. passengers. we find there are a lot of people traveling through the airport who are missing their pets and who are on their road a lot and can't have pets and we have come in contact with a lot of people recently who have lost pet. >> i love the wag brigade. >> one of my favorite parts is walking into the terminals and seeing everybody look up from their device, today everybody is interacting on their cell phone or laptop and we can walk into the terminal with a dog or a pig and people start to interact with each other again and it's on a different level. more of an emotional level. >> i just got off an 11.

>> there's some pockets of strength there, merck, verizon, home depot kind of a mystery there, and amgenng with boeing, so most stocks are lower he.er financials are the biggest losers on the s&p. we'll be right back. - in the last two years, we quadrupled our team and the pace we're growing, i couldn't keep up without ziprecruiter. they do the legwork and they get my job posting in front of the right candidates. i love invite to apply. i instantly see great candidates and i can invite them to apply. we have hired across all departments, engineering, marketing, hardware, field techs. you can basically tell ziprecruiter who you need, when you need it, and they deliver. - [narrator] ziprecruiter. rated the number one hiring site. try it for free at ziprecruiter.com try it for free at ziprecruiter.com when you need help it's great to be in sync with customer service. a team of reps who can anticipate the next step genesys technology is changing the way customer service teams anticipate what customers need. because happy customers are music to our ears. genesys, we're behind every customer s

i amgen fer casarian and i work here at san francisco international airport. the idea for therapy dogs got started the day after 9/11. an employee brought his therapy dog to work after 9/11 and he was able to see how his dog was able to relieve passenger's jitter. when we first launched the program back in 2013, our main goal was to destress our passengers however what we quickly found is that our animals were helping us find a way to connect with our pang. passengers. we find there are a lot of people traveling through the airport who are missing their pets and who are on their road a lot and can't have pets and we have come in contact with a lot of people recently who have lost pet. >> i love the wag brigade. >> one of my favorite parts is walking into the terminals and seeing everybody look up from their device, today everybody is interacting on their cell phone or laptop and we can walk into the terminal with a dog or a pig and people start to interact with each other again and it's on a different level. more of an emotional level. >> i just got off an 11.

ibm, goldman sachs, amgen, caterpillar all among the big dow winners, all of them up more than 1%. engel, delta, norwegian. the travel stocks, how about that? goldman and ibm too on the s&p 500. and then on the nasdaq we have some names maybe not so familiar to you, fox corp., hey, how about that? up 1%. cdw corp.. as for the dow itself, well, how about this? up 318 points right out of the back. if not bad at all. the yield on the 10-year up 4 basis points. the yield going up on the 10-year, now at 2.74%. let's take a look at gold, if we can, down $10 at 1974 per troy ounce. take a look at bitcoin, why don't we. that is up marginally for bitcoin, up $120 at 41 is,240. -- 41,240. oil still above $100, down 1 is.25, down 1.25 at 102.98, just under $103 a gallon. nat gas, marginally up, i'd say by about half a percent, just over $7. and the average price for a regular gallon of gas, $4.07. that is the national average. ah, but we like to keep a check on california, $5.71. some people have to take a mortgage out to fill up their big cars. all right -- in california. well, that was quic

i amgen fer casarian and i work here at san francisco international airport. the idea for therapy dogs got started the day after 9/11. an employee brought his therapy dog to work after 9/11 and he was able to see how his dog was able to relieve passenger's jitter. when we first launched the program back in 2013, our main goal was to destress our passengers however what we quickly found is that our animals were helping us find a way to connect with our pang. passengers. we find there are a lot of people traveling through the airport who are missing their pets and who are on their road a lot and can't have pets and we have come in contact with a lot of people recently who have lost pet. >> i love the wag brigade. >> one of my favorite parts is walking into the terminals and seeing everybody look up from their device, today everybody is interacting on their cell phone or laptop and we can walk into the terminal with a dog or a pig and people start to interact with each other again and it's on a different level. more of an emotional level. >> i just got off an 11.