losing $100 billion in market cap last week this is apple and tesla are going to report earnings dan morgannior vice president and portfolio manager. dan, the fact that these stocks continue to bleed after a beating last week, does that indicate a shift in sentiment towards the whole group? >> i think technology is strong year to date we had a sour note friday with twitter's numbers that rolled into the weekend i don't think core fundamentals, changed. we have strength in cloud, artificial intelligence and themes that are driving the sector i think the market is a little tired now. we have outperformance of the tech sector to date. >> i heard that argument, tired, crowded trades, needed to lose a little air then there's the bearish argument that a facebook, for instance, is saying it is no longer a growth stock. that has implications for value the rest of the year and beyond. >> i have the benefit of been in the media space. and seen pull backs from different quarters here and there over the past ten years, but the way i look at it, as long as the fundamental long term outlook for stocks ha

david: dan morgan, synovus trust and jim polson. thank you for being with us.x: let's get an update on what is making headlines. emma chandra his here. -- john doerr is here. -- and much under his here. -- emma chandra is here. there was a solemn ceremony at an airbase in south korea today. an honor guard carried the remains of americans killed in the korean war off a plane that had just brought them from north korea. it was the first tangible outcome of president summit with north korea's kim jong-un last month and it signals progress in the talks between the countries. more revelations from president's former lawyer michael cohen. according to cnn, michael cohen is prepared to tell prosecutors the president knew in advance about a meeting where the russians were expected to offer damaging information about hillary clinton. that would contradict the testimony of the president, his son, and other campaign officials. the options on brexit are shrinking for theresa may. the european union has rejected a key part of her proposal for a trade deal. now she has just

. >> dan morgan joins us now to talk more about these numbers. thanks for joining us tonight. >> first on the all important subscriber growth, they are blamg a flaw in their internal forecasting, do you believe that? or is something else going on here? >> well, it's interesting, it's kind of the million dollar question, not only did they fall short for this qrter but they guided for the next quarter also below expectations. was content too flat for the second half of the year. it because of the wor cup? it's kind of like, they didn't really answer that question.he they just said estimates are off. >> they were quick tooint out ey didn't think it was a result of all the competition out there. but yeah y have to pay attention to the competition. >> in terms of, you mentioned diey and amazon and hulu and some of these other companies. the other big issuhey're creating content. what about maintaining relationships with people who havet. cont that's going to be very challenging. >> what are you doing with the stock? i know you own some, are you tding

let's take a closer look at tech with big earnings on deck this week joining us, dan morgan, vp, portfolio manager with raymond james. good morning to both of you. a couple of top picks are all facebook and alibaba it is up less than 20% in 12 months which makes it a lagger among big tech companies why is that a big pick for you, where do these companies fit in the overall narrative you see playing out. >> yeah, so alibaba consolidated recently last year was up roughly 100%, it is consolidating gains. concerns around china with tariffs, doesn't effect it that much, but it is a concern. you have seen some devaluation recently of the chinese currency, 6% of the last few months that's weighing on the stock overall, look at the company growing 40% on core retail business, trading 17 times core earnings we think that's too cheap. have a $300 target strong buyers at these levels of alibaba. >> dan, i was asking mike what he thinks investors need to hear from big cap tech this earnings season i'm curious what you think alphabet investors specifically are going to want to hear from that company, w

. >> last week,s dan said morgan stanley gearing up for more pain ahead. >> if you look at the one year, the 52-week low and finding support. you can buy the july 48, 44 put spread paying 1 dl$1.10. >> fear not, we were able to catch up with him in london england for a special update on the trade. >> hey, it is dan from london, last week we detailed a put spread and the stock was below 48 that put spread is worth a little more than a 155 for a 50 cent profit. >> it is incredible. by the way, we'll see dan next week what do you think? >> it is an unmitigated disaster down 22% from the peak and it is the market trade the market is struggling and the morgan stanley -- >> up next, we have the tweets and final call from the options pits so lionel, what does being able to trade 24/5 mean to you? well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you? [

market watcher dan morgan is here.hat -- you heard the between, you saw the tweet, what's your action to it, and -- reaction to it, and why is the market selling off? >> good morning, stuart. i think what it kind of brings back is the pendulum kind of got away in terms of focusing on earnings. everybody was worried about the tariffs and what china may do to retaliate against what president trump has done with some of these tariff ares he's put on different products, so i think this twitter or comment kind of brings back those fierce again that now -- fears again that now we have to focus back on concerns on what's going on with china, and now he's made this comment about devaluing the currency and how's it going to impact sales growth here -- stuart: isn't there some concern that he's going to pressure the fed and jawbone the dollar and interest rates which may or may not be the historical role to have president, but that's what he's doing and that's what he does, and maybe that's what concerns investors. >> stuart, if

. >> also last week dan said morgan stanley was gearing up for more pain ahead. >> if you look at theear chart, i think there's room back to the 44 level. that is the 52-week low that maybe it's buying. you can buy the july 48-44 put spread paying $1.10 for that >> shares of big bank are down 2 2% sam is not here but we've been able to catch up with him from london, england, for a special update on the show. >> hey, "options action" viewers, dan from london last week we detailed the put spread the stock was just below 48. july 44-48 put spread. that put spread is worth a little more than $1.65 for almost a 50 cent profit. at this point stay with the trade keeping an eye out towards earnings in a couple of weeks. have a good weekend. >> isn't it amazing "god save the queen" plays everywhere all the time in london it's incredible. we'll see dan back on the desk next week. >> unmitigated 22% and this is an environment for the data trend the marketing is struggling as of late. a beta trade couldn't come to life. >>> up next, we have the tweets and the final call from the options pits what

are ticking up the way you want it to if we're getting to the big in be >> we want to bring in dan morgan portfolio manager at sinovis trust dan ed was just talking about the misses in the second quarter. there's also going to be misses in the third quarter when it comes to guidance. do we have -- are we starting to see maybe a pattern? i don't want to -- i don't want to project on to the stock story because we're seeing a major reversal, but are you getting concerned here >> obviously, as you mentioned, the third quarter, you know, guidance was way below estimates. we would have to go back into the first and second quarter of 2016 where we saw these -- a series of missed guidance in terms of subscription -- subscribers. it may be too early to pull the emergency cord now, but, you know, you kind of wonder if if that seven consecutive quarters of strong growth in the international subscriber barks and you start to wonder if maybe that's going to start to slow down, and that's really the whole preface behind the stock, right? because much domestic being so saturated. >> i'm glad you mention

. >> yeah, dan, start with morgan hill fire first. hot there. 92 degrees now. humidity, 23%. challenge here for firefighters will be that north wind. gusting to 19 miles an hour. really dry air in that vicinity. south san jose area, it is warm. 86 degrees. relative hoouumidity. 26%. wind is lighter there. as you know fires can create their winds. out of the north-northwest. 7 miles an hour. >> thank you. you know right now, fires burning also near the griffith observatory in los angeles. see the thick plumes of smoke near griffith park. the fire started after 2:00. so far burned around 2 acres, show, still small. and we are told that it does not pose immediate threats to any structure. >> look at all the smoke. well, tonight the pedicab community is mourning the loss of one of its own. >> we learned that kevin manning died after the hit-and-run accident late last month. he is being called one of the most belove the members of the pedicab community. >> kate larsen is live in san francisco with more on the man so well respected. kate. >> well, dan, kristen, two weeks ago. kevin

dan from london. last week on the show we detailed put spread morgan stanley, below 48, july put spread the stock at 47put spread worth a little more than $1.65 for almost a $0.50 profit. at this point you stay with this trade, keeping an eye out towards earnings in a couple weeks. have a good weekend. >> isn't it amazing god save the queen plays all the time everywhere in london it's incredible. by the way, we'll see dan next week on the desk carter, what do you think? >> it's unmitigated disaster, the stock is down 22% from the peak it's the market beta trend the market is struggling of late, morgan stanley beta trade. >>> up next eetwts and final call from options pits see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st.

he dan, which stock are you looking at >> i'm looking at morgan stanley. it's not worse than any others of them. there was some lapping waj that wasn't great for more fwan and goldman. i want to look at morgan back to the 44 level that is the 52 week low. maybe it finds some support. i want to think about the q2 earnings i think all of these stocks, if they can not ral ill into the q2 earnings, it will be the week of july 13th, i think we're going to see new52-week lows on all of them. today in morgan stanley, if you think the stock is going to continue to trade down into that earnings print, you want to look to the july expiration today when the stock was trading 47.90, you could buy the july 44, 48, paying $1.10, selling one of the july 44 puts at a quarter, your max risk is that $1.10. you can makeup to 2.90, 46.90 down to 44 worst case scenario you're risking a little less than 2% of the stock price. the press is sure, play for a catalyst back to the lows. to me i like the risk reward in this trade it's a 3 to 1 potential pay out. >> one of the things

dan ashley. >> and i'm kristen sze. alma daetz has the night off. the first fire broke out just before 2:00 p.m. in morgan hill, burning 40 acres. then about an hour later, another one broke out just south of san jose. >> that's where abc7 news reporter amanda del castillo is live tonight. amanda? >> reporter: dan, kristen, the main road into the santa teresa park is still shut down at this hour. i was told by a cal fire representative just a few moments ago that crews are expected to be here all night long pushing for full containment. at last check the san jose fire department says that the curry fire is 85% contained after it burned 70 acres. >>eporr:ri del favezozens who w fast moving fire scorch the hillside behind their san jose homes. the curry fire started around 3:00 tuesday afternoon. hours before, he said he had ridden his bike through the county park. he said conditions were fit for a fire. >> i was up there at dry, windy, hot. >> reporter: at least 120 fire personnel responded. assistants and full air support from cal fire also helped stop this tier 2 fire from spreading. a few miles south, s

dan ashley. >> a major road in contra costa county is still closed. >> traffic is stopped in both directions from marsh creek road from morgan territory road to gill drive. >> kate larson is live at a library that's been turned into a temporary shelter. we understand you got some new numbers. >> reporter: yeah, that's right. and there actually are a group of people at the shelter, which is the library, who have been evacuated. and others showing up wondering if they can get home, because there are roads starting to open up tonight. i did just get off the phone with cal fire. they tell me 247 acres have burned today. the good news, the fire is 20% contained and the forward progress of the fire has been stopped. however, there's still a hundred structures that are threatened. with the glow of fire twinkling in the distance, fire engines on marsh creek road and clayton. anxious residents hoping to get home, lined up further up the two-lane road. >> if it were just an hour or two, that's one thing. but to have it be all night, it just seems really daunting and exhausting. >> the evacuation order is in place for a reason, because there are homes threatened,

morgan i did get that you know this nigga didn't want to come you don't know if i was even in limousine. yeah you listen you know you don't this isn't you dan your little things in built in the wind is a coming of a command we're going to. look at a young woman who went on the eve of one of the european and they can do how many. children i don't know if you and i am they are the dahlia. that i am arguing that it will go. mariam allows you almost a line of thinking it was all i have. asked this year than you can really tell you. the only dolly i know that i'm rattled because i don't even i am a young man up only guy on the zambian who boy you can buy some of it delivered to me cousin can't go elder cuz like you danny i look too little sign you got to wriggle i have the devil of a woman's there i had it in a body and then there look in those you will not only under severe. what and yet i'm. not only them at the end of ok but as you enter me and one of them are following. i. know some we talk a lot of political maternity leave. your career but i don't. see those that throws up more than i'm really going. to really have to get. a million on i l

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announced tuesday afternoon. at the alameda county courthouse dan kerman, kron 4 news.147/std ( darya ) in the south bay... a home depot in morganived a call about a weird smell yesterday afternoon. 4 people were taken to the hospital. there is no word on their condition this morning. fire crews were not able to determine the cause of the odor. the store will reopen this morning. ( darya ) we now know what caused a big grass fire in concord on firday. investigators it was caused by a car backfiring. firefighters worked over the weekend to make sure the fire stayed out... by putting down some barriers. officials also are reminding people to take extra precautions to prevent a fire. they say don't smoke in grassy areas... and don't light anything in public open spaces. ( darya ) firefighters say it's also important for people to call in a fire quickly. ( james ) in the south bay.

morgan idea again. you know this nigga don't want to come you don't have a season in limousine. yeah you listen you know are you going this isn't he dan your little things in built in the wind is a coming of age american a. look at a young woman who went on even one of the european how they can do how many. children are not really i am they are the dahlia that i am are taking the middle don't. mariam allows you almost a line of thinking it was all i have. asked this year than you can really tell you so far the only dolly i know when i'm rattled because i don't even i am a young man up only guy always know me and. boy are some of it delivered to me because i'm the ample elder cousin to you danny i look to. your to wriggle i have a devil of a woman's there i had it in a body up in there long in those years we were not only under severe. what and yet i'm. a eunuch not only i'm at the end of ok but as you enter the angle of the following. you. know sam we thought our. political maternity leave. your career but i. see those are still looking more men are really going. to really give me a chance to get. a million i love what if. it wasn't g