back to micron.r sector is increasing capacity and putting out inventory so you have heaviness. everyone else is trying to. guy talked about commodity. it's happening. i think intel is a little defensive here and i said this on this desk part of this is because the evaluation makes sense and diversified model makes sense. if you look at the pc space, everybody is getting hit. look a month ago, they also had a lot of pressure. that to me is the place this is a place you have seen evaluations that have been supported as opposed to micron. >> here is the thing, one-third they sell into smart phones and pcs. smart phone growth year over year is decelerating to 10 or so %. it's a mature market so to guy's point you have a massive commodity product. you do want to avoid it. talking about expectations yes people expected a weak quarter. the stock was down 31% in the year. i don't think you buy the stock until you see a massive one, when you think it's really over done. for intel, i think you have a $30 prin

. >> it wasn't just micron guy. it spilled over to hewlett-packard, adobe -- >> qualcomm. i mean also other parts of the chip space. sorry, go ahead. >> no, listen tim makes a good point about the falling knife thing. i get it. but this was a $36 stock at the end of last year that's been steadily declining ever since. my point is that knife has been falling for the last six months. i think it culminated crescendoed today. can it go low grer here? absolutely can. but against 19 bucks, again, the level we sort of broke out from in the spring of 2014 given all the volume that traded today, given 9 fact that every analyst is late to the party, downgrading the stock, i think for a trade against 19 the risk-reward is pretty good. >> here's a question. these stocks were so hot because of aw the deal speculation and the m&a activity. some of the biggest deals of the year have happened in these kind of stocks. is that done? >> i think some of the guys -- the names we're talking about i think the deals are probably done. but

micron, it's running out of gas. maybe even fumes.more mad money ahead including my stock that roared solidly on a great quarter. i got the ceo. >>> then you better believe i will have answers to some of your toughest questions. one of the stocks i think is terrific. and another up 40% what do we do. plus let's end the week with a bang a special edition of lightning round just ahead. stick with cramer! re r4 r4. dprz . >>> yes, nike reported a great quarter last night. but tonight i want to focus on another big stock, finl finish line. roughly 1030 stores. one of its main suppliesersrs was shooting it's lights out. this morning finished with fantastic results like i predicted last week they would deliver. earned 30 cents per share. revenue up 9% year over year and 5.5% sales growth thanks in part of sales of running shoes. finish line has a number of stores within stores. and they are doing spectacular. sales up 30% year over year. it also has 76 specialty running stores. it's amazing. no wonder finish line rallied today. can it keep

nike and micron technology.ing earns of 83 cents a share and micron expecting profits of 56 cents per share. both of those stocks are trading lower. i'm vamping because pisani what are you working on here? >> turn over here. >> now i set it up i'm supposed to go to dom chu. >> take a listen to this. we have more trading volatility curves. animal health sciences giant zts halted for trading. they were up about 11% before the halt. this is on dow jones headlines that valeant has made a preliminary takeover approach of j zoetis. this is from sources familiar with dow jones. back to you. >> we were just going to mention. >> here is zoetis. pet's pan to the crowd here. the stock has been halted. i don't know if the designated market maker there will be able to open this. >> he is going to stay there with these people until the company makes some formal statement and try to open it. they'll be here after the close. they will wait a certain amount of time and be in touch with the company to see if something will happen

micron, intel haven't made highs since december.hings like ahavingo and xpi have kept this going a little bit some of the heavier names -- >> you just mentioned avago, broadcom, intel, altera. $60 billion worth of m&a right there in the last two months. i feel like in a lot of ways that has actually kept tech afloat here. when you think about it, tech is the largest weighted sector in the s&p 500. and you mentioned apple. that's the largest weight in the s&p. it's the largest weight in the nasdaq. when you think of the nasdaq, it's got all these biotech stocks that have done very well too. to me underlying tech stocks, large cap tech stocks act very, very poorly, which brings us to intel. that's the one i really want to focus on because to me i think it has the potential -- the stock is down 14% on the year. i think it's incorporated a couple guide downs over the last two quarters here. we got one in january and got one in april and the stock has acted okay, but now really it's down -- it's approaching a very, very key technical sup

was up 150%. >> micron was touted on cnbc for a long time.r the whole company. i don't know if that's true. >> tim, get in here. >> i think regis, to his credit was buying micron in the single digits. there's a lot of stocks -- i agree with evan you have a place where biotech stocks look frothy. they are doing it not only in individual names but ibb. no question when you see the fund flows the last two weeks, you've seen $15 billion out of bond funds and bond etfs into equities. people think this is a one-way trade where all assets are pulling back. today's performance tells you there are selective places to make money. just because nike and facebook are at highs at the top of the cycle doesn't mean it's time to sell everything. >> hold those thoughts. kenny, it looks like from the numbers we had a big pop in volume. what are you seeing in terms of rebalancing trades? >> we doubled the volume last minute. we traded about 640 million shares. we just ticked over almost 1.5 million. we more than doubled the volume in the last minute. that is jus

this is the major one that micron makes an micron is the maker in thechip united states.ty clear what has happened here. dramve seen a collapse in pricing. you also had a light of chips -- a glut of chips. nagy is going higher, worldwide futures orders. you can see the finish line also coming out with numbers that the estimates. i mentioned the best performing in the dow also happens to be nike which is one reason it is doing better than the s&p. pimm: that is scary. that is bad. to continue our coverage of the supreme court's historic decision 5-4 allowing gay marriage in the united states we have phil mattingly, our political correspondent. tell us a little more about the political ramifications. the president will be talking at 11. we talked about the republicans a little bit. what does this do for democrats? phil: this is a coalition that hillary clinton has made a concerted effort to reach out to over the last six months. the coalition, both in this case and their ability to round up public support and change, but also in their effort to align with as this is, this c

intel and micron are down today. micron down big, 18%. lot of concerns around that company.stocks, not every stock is down you've got monster which by the way, monster beverage? the best non-deal stock in the nasdaq 100 over the past 12 months. staples, mattel charter communications bed bath & beyond. kind of in the theme, retail that's done pretty well. micron and some of the other semiconductor names are, guys names to watch. >>> a new study is finding that most millennials are unhappy with the apple watch saying about after a month the thrill of the watch has dissipated. i'm walking. i'm going to come join natalie morris here. the thrill of the watch -- the thrill is gone saying that it's maybe frivolous or pretentious. you can put the camera on me. meantime, fbr capital markets saying the apple watch should be a major catalyst for wearables everywhere. so what is it? brian blair, managing director at rosenblatt security joins us he covers apple. and natalie morris cnbc contributor. natalie, this study is probably not what apple wanted to hear. >> well maybe not. i don't

doing the same thing for sandisk. 24 analysts out of 33 call micron a buy.y three analysts are calling it a cell so a pretty dramatic story. pimm: well done. ahead, thel ukrainian president is no longer a billionaire. taken a hithas along with his country's economy. speaking out,s talking with bloomberg exclusively. ♪ ♪ is the bloomberg market day. i betty liu here with pimm fox. pimm: let's get to some of the top stories. united technologies says it is shedding the helicopter maker sikorsky, turning its attention to high-tech products for the aerospace and building industries. they said several months ago it was launching a strategic review of options for sikorsky with if concluded -- which it concluded was no longer a good fit for its art folio. -- for its portfolio. target is selling its pharmacy and clinic is mrs. to the drugstore chain cbs. they will run it as a store within a store format. the deal includes more than 1600 pharmacies. another shakeup at american apparel. a former cochairman has resigned from the board and that clears the way for america

hank did ask me about micron technology, is it doomed or should he stay in? micron technology?it's the pc business, and it's not doing so well anymore. i think micron might be dead money for a while. charles: steve, what would you do with micron? >> i agree with hillary. even if you like semiconductors, and i don't right now, this is kind of the worst of breed. this is so massively underperformed the sector when you look at semiconductors, i don't know this is a name you'd want to pile into. the other thing that worries me about semiconductors is taiwan is trading terribly, extremely chip-dependent and oriented, and it worries me about u.s. chips. charles: yeah, i'm hanging in by a thread. evansville wants to know, is google the last possible savings grace for twitter? yes. no -- [laughter] listen, they're going to maybe go to 500 characters, focus on live events, on their private e-mails, they'd have 10,000 characters. here's the thing, anthony, people want to see a deal done in this. they don't have a lot of faith new management can build this up, and they don't have patience

when you think about it, it's not micron today.e stock was down 18% after sentiment was amazingly poor. i don't think anyone thought there was going to be a beat there. but the drubbing that stock took today, i think you have to think of some of the other moves. oracle, here's a stock that had traded very well in a tight range for a couple of months here, and their guidance sent that stock down 10%. and then there was another one, jbo which is a contract manufacturer, they make a lot of equipment for large oems, and that stock got drilled after its poor earnings. so when you think about what's going on here, it's across the pc and smartphone supply chain here. and there appear to be some problems. so, to me, i think you really have to be careful when you start to see the magnitudes of these sorts of sell-offs increasing over time as we head into q2 reporting season next month. i think you really have to be cautious here. >> we saw all sorts of knock-on effects not just in the chipmakers but across a lot of tech sectors. hewlett-pac

not good numbers out of micron.g out of greece and china sellingover night. >> a big gain in consumer sentiment. remember, the bid june read came in at 94.6. the final read 96.1. how does that stack up? we all know? january we had the highest read back to 2004 at 98.1. if you pretend that didn't exist, this would be one of the strongest ones since 2007. solid read. expectations didn't change much. the one-year is 2 .7. five to ten-year is 2.6. the high >> thanks very much. three trading days left in the first half. stocks on the rise this morning following two straight sessions of losses but the watch is on as greek negotiations come down to critical meeting tomorrow. they have been given a monday deadline to break an impasse in debt talks with creditors. we want -- hampton, let's get to you first in front of the supreme court, i think we have a ruling on same sex marriage. >> i'm going to go right to the key line here. the 14th amendment requires a state to license a marriage between two people of the same sex and

then there's micron simple moo, a stock i haven't liked. and frankly it's turned into a poor performer, down 30% for the year. that makes me interested in it. as week as micron sales might be because some of them are connected to perm computers, remember p.c.s? i get the stock could bounce no matter what. in that sense micron feels washed out just like the airlines where i told you the other day the high-speed decline has run its course and stocks have become too cheap to ignore? micron is no slam dunk but know longer think it's a pariah especially when you think of my favorites favorites. when i see cuervo i think about that. then we hear about how finish line is doing. the last time the company is reported it gave you good numbers on the heels of nike. i think it will be hard to keep finish line down this time and i expect a decent quarter although i prefer underarmor nike and skechers. the big movers seem to unfold. anthem united health will scoop us cigna or humana. aetna may want to play too. the action in the too old stocks has become

one of the big ones -- micron. >> this is almost all intel and micron which is weird -- >> sure. >> -the industries had a lot of deals so the stocks normally go. intel, no. the logistics companies, guess what. after the port strike? expeditors, i got a buddy that warnings at one of these companies, people were paying them anything to get their stuff from a to b because they couldn't get it through the ports. customers wanted it now, no matter what it takes. i want dom now. now. >>> let's get to more overall market action. ben pace, brian, you were just in europe last week talking to clients. what did they say was their biggest worry to you? >> couple things. number one, they continue to be worried about the path of the united states stock market rally. now that the inevitable is starting to come true that the fed is actually going to raise rates, they're thinking about exiting and lessening their u.s. positions. >> why would they think about starting to exit now? we've known this for god knows how long. >> i think investors actually still remain quite reactive. they want to wait until

this after micron came out with sales that fell by 3.2%. decline in revenue in two years time. the company's forecast for sales also alling short of that. there is a secular issue for micron. the majority of chips it makes is for personal computers. we have seen personal computer demand compliant -- demand decline. it also makes chips for things like server. that has been strong, but not strong enough to make up for the shortfall on the pc side. if it decline in those shares. in addition we are seeing it spread among other semi conductors. jeffries saying intel will perhaps suffer from the same trends, and as a result is cutting its price target. sandisk and amd are also falling along with micron. a broad pullback in the chips today. take a look at nike, people may not be buying personal computers but they are still buying shoes. the finish line benefiting from that. with these companies coming out with earnings that beat estimates. nike's futures orders orders that have not yet been delivered, that company is seeing a worldwide futures ord

is it time to sell micron? shares are trading at 52-week lows. morgan stanley downgraded it to underweight on future excess supply. what is the best way to play mu? pete, kick us off on this one? >> i was a bull on this stock. i've seen it slip down like everyone else. i'm looking at this thing. even if the earnings are only a little over $2 a share, which i think is part of this note put out by morgan stanley, it's relatively cheap. 11 times earnings, something like that, it seems inexpensive. the competition is out there. intel has been making that move to be much more competitive. they've got the server space. they are also trying to get themselves in the mobile space. i think the winner ultimately will be sandisk and intel and i think there's going to be a future for micron. >> do you own this? >> no, i don't. their story is that there's a new size coming that intel is going to be major buyer of so they are not competing with intel. but, you know, it's a momentum stock. it was a momentum stock on the way up, as was sandisk. you make more chip

how about shares of micron up today, thanks to an analyst call.s still one of this year's worst performers. is our panel buying into the upgrade or not? >>> and taylor swift, dissing apple. wait until you hear what the pop princess is doing now. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor. >>> day after the red-hot ipo, fitbit shares continue higher. what do we think, fit, fad? >> well, you know, i think this is a tough one. >> we didn't get to hear from you yesterday. what's your opinion here? >> i think it's a tough one. we talked about it earlier in the week. the problem is it's a one-trick pony. i did compare it to gopro and i think it was pete took me to task on that. the problem is you're in a competitive space. you've got a prod

he is going against the grain. 24 analysts out of 33 are calling micron a by.y three are calling it a cell and he now joins that crowd. take a look at united technologies, i find it a fascinating story. they are spinning off or selling the sikorsky maker of helicopters. their biggest customer is the u.s. department of defense. they are selling this $8 billion business. they have got to find a way to deal with the taxes on this because they have on sikorsky since 1929. a lot of capital gains to deal with. even though they are getting paid by you and me, they do not want to turn around and pay us to bring much in taxes. they have to find a way to avoid the taxes. scarlet: that's called fiduciary duty, isn't it? i am sure they gave us great prices on his helicopters, patriotic prices. scarlet: thank you, matt miller. pimm: the u.s. supreme court has refused to back a law forcing doctors to show women their ultrasound exams before having an abortion. forlina passed the law years ago but it never took effect and the appeals court said the measure violated the speech

but jim, a industry, semiconductor, old names like microns then new names that are doing things withquency. >> you want newer names if you can get them at right valuation. older product will be commoditized. newer will so growth but watch valuation. charles: people said, chips or commodity, and the dynamic don't work in those stocks go down. >> if you want be in in sector bay applie apply material. >> i never liked applied federal. >> they make equipment that all new semiconductors and old need to go to. charles: i never liked them. but david did ask on rite aid, loved show thank you, sacramento. rite aid, i have to tell you, i made a famous call on this a couple years ago, i would not touch it right now, they missed most recent earnings, they are coming down, and recently is inside irsales 3 million -- insider sales 3 million shares, i don't like that act but hillary you like it. >> for consolidation play, it is inevitable. cvs and rite aid. >> and walgreens they takeover everyone. just two names. >> i have to to because they need to be able to negotiate. >> rite aid is a great stor

morgan stanley taking micron to the wood shed. >> micron holding to sell. one-way stock. they also make flash. once d rams went into overproduction you had to keep cutting numbers and morgan stanley is saying enough. it wasn't a great performer for a long time. those were then and this is now. stay away. >> their point is there's usually a seasonal surge in orders. they think this year it'll be weaker than normal later than normal. >> pcs are a dying class. i read a piece about apple closing the mac. you have a winner. you don't need to close it. pks are going away and micron is inside a pc. there's overproduction. it was great while it lasted. >> web bush takes lowes to outperform. >> this was interesting. i happen to they depot had a better quarter. they are saying it's seres falling apart and they're just taking -- macrotail winds and sears going away. i've been waiting for someone just to frankly come right out and say listen sears is the greatest thing that's ever happened to lowes and home depot. >> we had this conversation last week. we said where's

we were seeing those micron shares trading lower in today's session.ank you so much, julie. julie hyman, our senior markets correspondent. europeank at how the markets did. here is mark barton from london. mark: six days of decline for stoxx 600. longest run of decline since december. chinesecusing on inflation data. it is pointing to tepid demand both at home and abroad. yesterday, i was telling you about the dax index entering correction territory and consuming its downward slide. it has lost 150 billion euros in value since april record high. summer spike for the aac in athens today. the greek benchmark rising 6/10 of 1%. the international -- the officials within greece submitting fresh proposals to unlock fresh bailout funds. one official says the revised plan is "a vague rehash of earlier proposals and isn't considered credible." if you wanted evidence of the breath of decline across european market today, this is the subsectors of the stoxx 600. declining one of them on this tuesday session. this is the big corporate story of the day. hsbc is cut

has been feeling pain today and intel has been falling with micron as well.want to take a look at what is going on with rates today. we had some consumer confidence numbers ahead of estimates. if you look at the 10 year, we have seen selling and treasuries. the rates are now moving up 2.47%. the highest we have seen in a little while now for those rates. we had an interesting note coming out from bank of america-merrill lynch about the particularly in the debt market that are going to suffer the most, but all across the asset spectrum. they are looking at fund flows right now. this is a flow that is under percentage of management since 2000 nine. here you are looking at the unwind. the things most out risk our master limited partnerships, high-yield debt. in other words, we are seeing a lot of unwinding of that trade. the unwinding beginning in that trade. the cluster of risk according to bank of america-merrill lynch is a that went rates go up, that will be in an lp investment grade high-yield debt. you can see what happens to see if any of those groups are

a third quarter miss for micron technology. earnings per share.he company posted revenue of $3.9 million -- $3.9 billion. men is recalling the drawstrings use in 300 thousand women's hoodie is. seven consumers have reported injuries to eisen faces. customers can remove the core ds. aetna is close to buying humana. they are the second-largest u.s. health insurer by market value. sessions.intensified made a formal bid in cash and stock. any proposal would likely be above humana's market cap. those are your top stories. we are awaiting nike earnings. you want to get to julie hyman. julie: we are waiting for nike earnings. i want to wait to get there. the numbers are coming out. earnings per share of $.98. has not missed analyst estimates in terms of earnings per share. it has been a consistent performer. the only question is how much it is going to be affected by currency. the worldwide futures orders were of what analysts had been anticipating. these orders are orders that have not been filled. it is a measure of forward-looking measure for demand f

indices are posting losses today, and none more than the nasdaq as a result of bad earnings from micron and disappointing guidance for the future. chip manufacturers are a little concerned, melissa. melissa: that's right, technology the biggest drag, while markets wait for mondays, here's everything you need to know now. terror around the globe, islamists attack around the world following isis leader's call to make the month of ramadan a time of calamity for the infidels. over 50 were killed in three separate terror attacks, first france, then tunisia, then kuwait. the department of homeland security warning americans to stay alert saying, quote, particularly with the upcoming 4th of july holiday in the united states, the department of homeland security and the fbi continue to communicate with state and local law enforcement about what we know and see. we are encouraging all law enforcement to be vigilant and prepared. our blake burman is in washington with more, blake? >> reporter: three attacks in three different parts in the world. the first in europe, france. the second in north afr

plus, time to sell micron. just got downgraded. of the day and wall street's best athletes competed for a great cause. we'll show you the highlights and how the team does. how much money they raised as well. see you in a bit. >> there were beasts on the field. thanks, scott. got breaking news on aig. mary thompson back with more. >> hey there. this is a lawsuit that was brought by aig's former ceo hank greenburg against the federal reserve. judge wheeler of washington, d.c. issuing his decision on this case in the 75-page ruling. essentially he's awarding no damages to mr. greenburg in this case. however he says aig shareholders were wronged by the federal reserve when the government basically set a high price that was unrealistic for the stock it took in aig. again, no damages awarded. it appears the judge has again sided with mr. greenburg in the case. more details as we go through the filing. those are the headlines now. i would suspect that if this is the case the doj will likely appeal and take the case to the supreme court. w

. >> caller: my question is about micron technology. >> numbers are too high micron. to come down. very similar to the airline situation. when the numbers come down you have to wait until everyone's cut numbers and only then can you make a stand, and that hasn't happened yet. michael in florida. michael? >> caller: yes, jim, how are you? >> real good how about you? >> caller: good thank you. i'm calling about tg therapeutics. symbol tgtx which i bought at $8 a share. >> well you know it's funny, because this is another one i'm looking at for this webinar i'm doing tomorrow because mike weis is fabulous. he did a great job. i think this is a winner. you've got a w, got to take a little bit off the table. but i think tgtx goes higher. and that, ladies and gentlemen, is the conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade. >>> the last play of the game. >> markets absolutely getting hammered today. >> i know it's not easy but i promise to keep fighting for you. >> jim cramer leveling the playing field for all. >> the road is a tough

. >> another tweeter asking about micron. you have thoughts? >> i jumped on some of that as well.me very well today because unfortunately the chip stocks after that huge week last week, we saw all that consolidation that's going on. micron is one of those names that's continued to underperform but there was some huge upside call buying in there. i bought in. >> 30 seconds or so ago you sort of noted that the market took a little dip down. >> listen. you know my feeling on the market. i am bearish. i'm playing for a correction overall. >> how big? >> i don't know. how high is high? how low is low? i don't know. >> i mean are you looking for 3% to 5% or 10%? >> i don't know. it is a momentum that continues to gather. people set equities -- our good friend in colorado mentions this to me. people sell equities on the way down, not as the market is marching higher. that's the concern i have. the market rolls over, pressure builds and people begin to almost -- >> they begin selling. we've seen that. until you've gotten to a point where the buyers come right back in. >> they have. >> is

a third quarter miss from micron technology. posting adjusted earnings per-share of 54 cents.hort of estimates. the company posted revenue of $3.9 billion. the company attributed the headwinds to weakness in the chip sector. ulemmon is recalling the drawstrings used in 300,000 women's hoodies. 7 consumers have reported injuries to their eyes so far. customers can remove the court and they'll provide a replacement. aetna is close to buying humana. we could reach a deal this weekend according to people with knowledge of the matter. and it is the second-largest u.s. health insurer. discussions between the companies have intensified after it emerged that anthem and cigna had talks of their own. aetna made a formal bid in cash and stocks. the offer details were not available. any proposal would likely be above humana's market k. those are your top stories. we are awaiting liking earnings -- nike earnings. we want to get to julie hyman for more on a potential merger between the wettest and -- zoe test and valiant. wait ai want to second. those nike numbers are coming out. earnings-p

. >>> micron reports earnings and revenue after the estimates.he chipmaker blaming the miss on the personal computer sector. shares slid after the close. the stock was off a fraction to 24.02. >>> the animal health companies was halted late in the day, after it was approached by valiant pharmaceuticals about a takeover. had a market cap of $25 billion before the report of that approach shares shot up 11% on that report. valiant also rising into the close. > tax drivers took to the streets across france to protest the expansion of the ride hailing service uber. taxi drivers burned tires, blocked traffic as part of a nationwide strike which turned chaotic in some areas. the drivers say uber's lower cost service is taking away >>> which company will build the next generation bomber? the air force is expected to make a decision this summer. for companies like boeing, lonorthrop there's $55 billion on the line. jane wells has more. >> the next defense contract will be the bomb, well, real. a cost of $2 billion per aircraft. w the air force wants a new

the nasdaq went the other direction as results from micron weighed on that. down sharply today by the close the blue chip average. the nasdaq down 31 points the s&p 500 was just a fraction lower. for the week the major averages down fractionally. so with greece looming and a shortened holiday week ahead of us what should investors work for come monday? bob pisani has more from the stock exchange. no deal in greece and a 7% drop in the mainland china stock market. ma feel that a deal will be made at the last minute in greece or if they do default, it will not affect other markets. now, next week marks the end of the first half of the year and many are arguing that the u.s. economy is showing signs of improvemen that means the u.s. stock market would be the place to be in the second half of the year even if there is a rate hike. speaking of an improving economy, we'll see if that trend continues next week when there will be a lot of data in a short amount of time due to the july 4th holiday. housing has been strong recently for example, including home prices wi

>> i think micron, probably the level's around 24 24 1/2.ee with dan that more of the enthusiasm that's -- it's 12 months ago we learned these guys were no longer a commoditized business with pricing power. that's yesterday's news. the stock you look at is intel. this is a much more diversified play across the entire chip space, a company we've also had a fresh round of weak pcs, delayed seasonality, all these things we seem to hear over and over on intel. data service to me data skrernt a very exciting part of their business. the valuation is good. it's a case where you're getting paid to be along for the ride on this one. i look for the chart on intel, somewhere around 31 1/2. i think that's your bottom. that's the place where you continue to trade. we're right there. and this is a place where i think investors have to take a look at this stock because it's a time where the chips are overly beaten up and i think there's not as much cyclicality there. >> currently sitting at 31.39. next up twitter. this stock is also hitting a 52-week low.

it's not just micron today, after sentiment was amazingly poor heading into that report and into thatuidance i don't think anyone thought there was going to be a beat there, but the drumming that stock took i think you have to think about some of the other moves. oracle, here is a stock that had traded well in the date range for a couple of months and that guidance sent their stock down 10%. and j bill, they make large equipment and that stock got drilled after its poor earnings. it's across the pc and smartphone supply chain and will appear to be some problems. so to me i think you really have to be careful here. when you start to see the magnitudes of those sorts of sell office increasing over time as we head into q 2 reports season next month, i think you really have to be cautious here. >> we saw all sorts of effects not just in the chip makers but houle let pack card, adobe. >> first of all, houle let pack card has been getting hit for, what, the last decade on pc sales. >> another reminder. >> we're making this out like it's all a big surprise, but the interesting thing is this

micron shares ticking higher. they had fallen 1.5% in pre-markets.his is after goldman sachs cut its call on the stocks. 40% fall.ts a 20 to that is bread-and-butter. out of ane initiated outperform over cowen. theirto sell are at highest in the entire past year. look at the red. as of june 21, 11.4% of analyst said they were going to sell. a lot of people saying you can buy the stock. take it as you will. sequential brands will buy martha stewart living. not much moving today. the stock is at highs not seen since 2006. martha stewart living is down 12 % or so. if you think you might be concerned about martha stewart, you do not have to. she is sticking around with the company. she will be the chief creative officer. pimm: thank you. let's look at some of the top stories crossing the terminal. has agreed tonds buy martha stewart. .15 a share. martha stewart were serve as the chief creative officer. they have lines -- sequential has lines such as jessica simpson. off -- dropping artificial food colors from its cereals. tricks and rhesus puffs will be

a story you will like to share with us and just go to kron4 that, you can submit your story under micron for story tab. >> pam:--my kron4 story tab >> pam: exxonmobil says, it has stopped oil production on three platforms. following the santa barbara oil spill. >> pam: the company says it was forced to shut them down last week. >> pam: they say the county rejected it's emergency application to truck oil to a refinery. >> pam: a santa barbara county is not an emergency. >> pam: exxon significantly cut production from three rigs after over one-hundred thousand gallons of crude spilled into the ocean last month. >> pam: the company was storing oil at an onshore facility but was reached capacity when they could not transport it. >> pam: the month of may. was a good one in terms of water bay. >> pam: the santa clara valley water district says most major water retailers reported savings of at least 35 percent. or 5-percent higher than the 30-percent suggested back in april. much of the savings is due to restrictions on outdoor watering and homeowners choosing to let their lawns go brown. >>wat

i found micron really fascinating.the endless recommendations, there are 25 buy ratings and only three cells. it is a contrarian call. he is cutting price targets from $21 to $30. he expected again and now he is expecting a drop. erik: i think this is one of the most valuable services that sell side investors -- analysts provide to investors. olivia: that's what you say about sulfide research. erik: my problem is with the earnings manipulation game. as far as hard fundamental work goes, i cannot be more respectful. matt: this is one of the most honest moves that you can make it you said the stock was going to open -- go up five dollars. i want to get quickly to the goldman call also. eli and david over at goldman sachs at the u.s. portfolio strategy review are upgrading financials and industrials. they are downgrading energy as well as utilities and materials. they have a number of names here, but apple and cisco and facebook are all buys that they had. olivia: what is the thinking there? matt: the thinking is the same

it is said that some suitors for sandisk to the micron -- could be micron, western digital, and a couplebc analysts saying an acquisition by seagate or western digital be a low probability. what i have here is a look at valuation and estimated sales growth. here is sandisk way back here. it is valued about in line with peers that the estimated sales growth is much lower than some of them. the average is the pink bubble. you have to factor that in when looking at the prospects for it potentially to be taken up. erik: thank you very much. coming up walmart's shareholder meeting is underway. new developments include royal investors. olivia sterns is there and will bring us the latest. ♪ rket makers" with erik schatzker and the stephanie ruhle. erik: good morning. you are watching on our new time on bloomberg television, 8:00 a.m. to 10:00 a.m. stephanie: we're focusing on the jobs number, but it is also national doughnut day. so congratulations to all you homer simpsons out there. let's take it back to jobs. we have not seen a report like this in five months. in may, employers added 280,000

the nasdaq really weighed down micron in particular of by 28 points.e to uncertainty, of course about greece. it all happens over the weekend with that saturday deadline. give the happiness to nike and julie hyman is joining me for more. overall and makes today, but you really have to say thank you, nike, for saving the doubt. julie: exactly, those are the push and pull. let's look again at the major averages to illustrate what alix is talking about. w has been the outperform her. the nasdaq has been the indices.ormer in the byron being affected weakening demand for personal computers. also, the russell 3000 today -- a broad measure of stocks. the russellking at index? today is the russell rebalancing. it does in annual sort of rebalancing of the indices. some stocks go in, some stocks go out. a lot of investors and funds benchmarked against the russell's indices. makeit makes changes, they changes. usually it happens in the weeks leading up to it. nevertheless you see some volatility and higher volume on the days you get this rebalancing. the index is

micron, sky works solutions making a bigger solution. micron and xerox hitting lows.ting in the s&p. this one has a bigger impact than any of the other sectors. >> thanks very much. want to talk about another deal that happened in the food business this morning. campbell's soup buying garden rush. it does speak to a larger trend. established food giants like campbell's soup playing catchup. they're going into fresher organic and perceived to be healthier snacks. it's high hormel bought apple gate. campbell's soup bought a company that sells fresh indicators an bemplgs. it's boosting results along with the cost cuts. campbell's soup stock has held up for the year. bottom line for the industry, without the strong sales growth at the companies, we're talking big companies, general mills and others, it is a race right now to cut costs and scoop up fast growing companies. consumers, especially millennials really want. >> do you buy your kids soup cans? >> no. a. >> annie's maybe. >> you could see this happening five or ten years ago. the fact they're just waking up to it n

indices are posting losses today, and none more than the nasdaq as a result of bad earnings from micronnce for the future. chip manufacturers are a little concerned, melissa. melissa: that's right, technology the biggest drag, while markets wait for mondays, here's everything you need to know now. terror around the globe, islamists attack around the world following isis leader's call to make the month of ramadan a time of calamity for the infidels. over 50 were killed in three separate terror attacks, first france, then tunisia, then kuwait. the department of homeland security warning americans to stay alert saying, quote, particularly with the upcoming 4th of july holiday in the united states, the department of homeland security and the fbi continue to communicate

micron is down about 30% for the year today.you can see, recorders quarters of the analyst out there are saying it is a good time to buy. matt: it is interesting that the buys pick up at the same time. i saw a note about the sell. but the buys are picking up as well. olivia: let us look at the top stories. the u.n. reported that the gaza war found that both israelis and palestinians may have committed war crimes. israel launched a defensive last ally in response to heavy rocket fire from hamas. u.n. and houston he officials say that more than 2000 palestinians including hundreds of civilians were killed during the fighting while 73 people died on the israeli side. israel slammed the report as biased. meanwhile, that move th -- benjamin netanyahu is reinforced his these strands -- peace plans. forined out a timeline peace proposals with house i could it is not have ironclad agreement. iran putting pressure of a potential nuclear deal. they have approved an outline to a bill that would ban the inspection of military sites. the oba

the semi conductor group, we know a big problem for companies with low end chips like sandisk or micronen crushed but basically because their products are commodities to begin with. ambarella makes high end chips and the company continues to innovate and introduce better quality technology on ever smaller chips that use less and less power. the bears would counter the superior technology really only gives them a 6 to 9 month lead on the competition. then there is the complaint that ambarella is too closely aligned with gopro. legitimate argument. because you never want too much sales from one customer and right now gopro is a gigantic portion of the business. however they have been pointing out all the ways they have been diversifying and into new markets, particularly drones. and you could argue gopro needs ambarella at least such as ambarella needs gopro. as for the bears i think it was a lot more legitimate last week but not after this massive selloff. >>> and the bull case? simple boils down to they make the best product. end markets including home security. and it deserves to trade

micron technologies will have a down taro, shares were down more than 10% actually after its earnings came in below expectations hurt by lower selling prices. chipmaker issued a disappointing revenue forecast for the current quarter. a current third quarter profit of 54 cents a share. guess what? that missed by two cents. revenue fell coming in below forecast. they're not seeing demand for chips for pc's and demand for smartphones and cameras alike. going forward their future orders are under pressure unlike nike which has basketball share. deals with the nba coming up. the olympics are coming up. a lot to watch more on nike. sandra: nicole, thank you. then there is this. barry diller looking for love from investors for his dating business. lauren on that one. >> tinder, cupid, match.com, iac/interactive. they're planning an ipo for the matchmaking group. they have nearly 3 1/2 million subscribers but wedding bells may not be in their future. seems like everyone is online or app dating but the services don't bring in as much money you expect. slightly odd, what tinder costs $10 a mont

thor industries and micron.could be due for a bit of a pullback because they've gone up pretty far, pretty quickly. the statistics here thor industries 29 of the last 31 times it's pulled back when it's popped this much. with citigroup and zions, two very positive stories but they could be due for a bit of a pullback. not that these stats are trying to predict the future. but if history repeats itself these could be some pops or drops you see going forward. at least very short term. >> thank you. >>> well twitter shares giving back. of their gains after the news about the ceo shakeup. the stock is down 30% in the past two months alone. the new ceo, co-founder jack dorsey. both men appeared on "squawk on the street" this morning with david faber. listen to what they had to say on the transition. >> the end of last year i started talking to the board about transitioning. i wanted to make sure we were doing it when the team that was in place was strong was working well together they were forthright with each other.

. >> the action, micron, another new low in the stock. drexel downgrading the stock just two months after it already downgraded the stock. >> they downgraded i think to sell from a hold. talking about continuing pricing pressure. that's painful. valuation is cheap but not that it can't get significantly cheaper. i mean, we've seen how volatile this space can be but i'm hanging on to it. drexel hamilton which -- >> drexel hamilton. >> not drexel burnham for the old crew. >> oh, no. drexel hamilton downgraded the stock. next up, wild ride for the airlines today. the sector initially getting hit hard after american airlines and southwest both warning that passenger revenue per available seat mile, prasm, a key metric, is expected to fall in the second quarter. but many of the names in the sector reversed loss, higher on the day. is the would worst over for the group? ari wald head of technical analysis at oppenheimer checking out the charts at the smartboard. is that a good sign that they managed to reverse? >> for a trading basis, yes. i wa

micron and xpi, avago. >> the smh actually hit new highs last week and hit over 60 and now all of a sudden we're in the mid 50s, 56 area. certainly there's a little bit of concern out there in terms of the technology and the sell-off. and is this another rotation into the psych many of something else? are they going to move away from certain areas of technology or the chips specifically and where is the next leg? i like the way microsoft traded today. that was one of those names that hung in there, sold off a little bit late. this is one of those names that just continues to want to hold on to the gains. >> you did not like the way ibm traded. >> other than the big move up to 175, what it appears to me, maybe there was something in the works, maybe they were in the sweepstakes for salesforce.com, maybe hasn't come to pass. that stock's going back to levels that it should be at if not lower. facebook to me really disappoints me. i keep thinking it's going to blast through that 85 level that it's had trouble with a number of times. looked like it last week. and then today right back down to

>> also a winner is micron on this topeka hold to buy. >> talk about a sustainable market.ay. that stock was very low and then they made a brilliant lp acquisition. it tightened the market because there was less competition. no now competition came on and i don't want to own that either. you have to own nxpi and skyworks. and you have to own avog go. >> car max, as you said earlier -- >> bummer. >> mace rich. >> that was a gigantic piece. it was done at a discount but that's smarting. >> simon, the stock was down. the conference call was great. the numbers are great and the stock was down $1.5. that's the mistake of the market. they don't understand the waybillings are set up. the oracle quarter was not clean. this was clean. it was a good quarter. red hot, sales force.com, they're doing it right. >> do you buy the argument that the street doesn't understand how bad 4 x is? >> i didn't like the headline which says cloud. you don't claim you're a cloud company until more of your business is cloud. they do have fabulous growth in cloud. i'm not denying that. they have this ot