tv Fast Money CNBC May 27, 2014 5:00pm-6:01pm EDT
rocky. >> for now, guys, thank you. great show. appreciate it. "fast money" is coming up. mandy is in for melissa today. b wh what's on top? >> melissa is out in silicon valley. she's going to be talking with mark and the ceos of fireeye and it's going to be a huge show and of course, we have got the trade as well. it's going to be starting right now. >> jam packed. i'll let you get to it. >> "fast money" starts right now. we live in the nasdaq market inside new york's time squares. live in silicon valley. and has an exclusive interview with marc andreekken.
let me introduce our traders tonight. we have tim, dan, karen and guy. and we have got the s&p at a record high. lots of signs of life emerging from the momentum names. is this a bounce to buy or to sell. what do you reckon, tim? >> the russell has bounced. i think you're up near levels where i think i would throw shorts out there. it's traded -- i think the rotation that continues into at least some value in the industrial cyclical space i think is part of what people should be doing if you believe the global economy is better than people think. even in japan, i think there's some -- the ecb over the weekend threw as much wind as the stimulus sales as they can right now despite the fact the elections weren't that great. there's a lot of macro working for the markets here but not all the markets are going higher.
>> dan. >> i don't think you buy it here. the s&p looks great. it's breaking out. it's been the benefit of a massive rotation. that being said, i think the russell, i think you got to a point where you can probably start to think about putting shorts out. if you're a trader, and look to press to those prior lows. to me, i think you have a bifurcated market. i don't think you want to try to pick a top in the s&p. it seems to be a safe haven trade. >> even when there's a shallow dip, there are plenty of buys. karen, what are you doing? >> we don't trade around that much. i think some of the names that started to break out a little, bank of america, that's something i would buy. we have had a trade along the s&p, short the iwm against it. is that has worked until recently. that's starting to reverse a bit. we had to take some of this off.
it's definitely not worked in our favor. >> and throughout the market that is the russell is going to underperform? >> outperform. right. if we get back to froth that will start to come down which it has. >> buying or selling, guy? >> there's certain trades that continue to work. airlines continue to work. look at delta, even jetblue. tim has been all over the s&p. and the market doesn't give you a long to sell the high which is probably why the s&p continues to grind higher. but holding the 107.5 level low in january. and again held. it feels like it wants to trade up to the 115 level. and i think you fade it again. that will be the interested move. if that 115, if it gets there, if it fails, it's not going to hold the next time down. we'll see if it has some impact on the s&p. >> what's interesting is the fact that month to date we have seen the nasdaq outperform and
seeing down names in biotech and internet. >> forget the names that were trading at 20 times sales. at the highs. we're talking about the yelps and that sort of thing. this is a real move. this is real market cap where people massively outperform the market and they are playing catchup and going for relative value at reasonable growth. we have seen a massive move in google and apple. again, i mean, i think that people went for quality and they went for -- i guess growth at a reasonable price. >> where do you put amazon in that group? it's about valuation and it's about whether they deserve that. amazon is down today on a day when the nasdaq has a big day. >> apple and a lot of speculation that apple plans to make your home a whole lot smarter. apple is taking steps to turn iphones into remote controls for things like lights and security systems. the stock is closing up about 2%
today to levels not seen since october 2012. having a buy you rating and we're inching closer to $700. do you think this reported plan by apple to get out there and own your home is going to get us to $700. >> we're pretty excited about apple here way more on the iphone 6. the big reason is the number one reason they lost market share to samsung, number one reason they lost market share in asia is screen size. it solves that. 115 million people coming off contract globally. versus 69 of the last one. it puts numbers much higher from here. >> the iphone 6 is reported to be out in august. going back to the smartphone issue, because smart home issue rather. you mentioned google and samsung. they're also competitors in that
space. who is going to win? >> frankly i have a home system right now. it's a disaster. we're looking for something that makes the average american auto mate their home. if i were to pick anybody i would think apple would be the best one at it. >> i agree with that. don't people have that with their iphone now? i can turn on my security system with my iphone and my thermostat. it's through individual damage i -- devices. >> controlling lights and security cameras and temperature in your home in one place. think of it as a home center control unit and it allows you to manipulate all those functions. >> how would that compare to nest. >> nest is just a thermostat and
kor b carbon monoxide reader. wouldn't be surprised to see samsu samsu samsung refrigerators and washers and dryers. >> we had china iphone sales and financial engineering and watches. none of that has come to pass other than the buy-backs. the china stuff has been a been muted. to me one thing is interested, and rossburg was talking about breaking with their pass and licensing some of their software apps outside of the aos. ecosystem. that is one thing this company can do to open up the whole game. they're losing the market share gap, right? apple probably has 200 to 300. it smacks issues in the past. do you think this is a
possibility? do you think you see face time and i message. >> imessage can be worth a lot. the big debate is on eye tunes. you're right. none of the stuff moves the needle today. what moves it today is the iphone. iphone 6 is the catalyst and we love the shares in front of that. >> is it going to be evolutionary? >> i think for a lot of people having a big screen size for them is revolutionary. we do think you're going to get a new product. >> you're talking about raising the price. are they going to get away with it? >> they are. if you compare them to anyone else, there's no one that has a home run product to compete against apple. that's why the iphone 6 is a big deal and the stock is moving. >> i believe, tim, you bought apple today. >> because part of this was a
technical call. i agree with peter that we don't need major innovation to see the company -- and i think we've got some of that in the first quarter numbers. i bought it at 525 and sold it at 592. if it gets back up 619, this is a long term trend line that goes back to the apple rally that started in '09. i always felt on valuation this stock is good as a play as you can find valuation-wise. >> some of the phrases -- we have said it now since the 575 level. the question is do you fade it into next week? so a lot of things that are happening next week, i think the split -- a lot of things are happening. my instincts would be probably yes. if it gets there we can be talking about talks in 2012. but the momentum seems to be towards the up side in the name. >> thanks.
we're going to go live to the west coast of the new expanded silicon valley campus. melissa lee is going to have the ceo and also on fireeye. and also marc andreessen. find out which tech phones you may want to invest in next coming up. also bank of america shares getting a boost today. we have got the trade ahead on fast. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours. are we still on for tomorrow? tomorrow. tomorrow is full of promise.
welcome back to "fast money." check out what's happening with shares of workday moving higher. it lost a better than expected 13 cents a share in its first quarter. revenues coming in above wall street forecasts. second quarter guidance is better than expected with regard to revenues. the stock up about 6% in the after hours. trading 720,000 worth of shares. this is one of those cloud-based company that is does human resources solutions. we have been watching for quite some time. back over to you. >> how are you trading workday? >> this is a classic to bounce off and probably an oversold
low. this quarter was better than people looking for. where does it go to now? i think you got to fade it over the next couple days. probably by the end of next week this is going to wind up being the yelp trade, when you saw that initial knee-jerk reaction to the up side. i think i can see it trading 90 but wouldn't be getting long. >> let's send it over to melissa lee live at silicon valley. melissa. >> thanks, mandy. the occasion is the opening of the brand new campus here. i'm joined here by ceo of fireeye who will be on the panel. and pat who a hosting us today. thanks for joining us. >> thank you. >> pat, this is a gorgeous new campus and got a lot of cool features. it's got 1,500 trees and palm
trees and has a capacity to house up to 6,000 people. that's an increase of 50%. is that where you see the company going? >> we're thrilled with the opening of the campus today. a beautiful community area here in palo alto. just a gorgeous facility. and an opportunity for us to continue to grow in the heart of silicon valley. the center of innovation so we have continue to bring these cool products to our customers. >> i want to ask you about growing. this notion seems to surface once in a while that emc and vmware should remerge. emc owns 80% of the company. wells fargo had a note outlining the reasons why the companies should be combined. do you see that happening? >> simple answer, no. >> it is off the table
completely? >> it is working so well. each company has a strategic role. we go execute like crazy and it's working for shareholders. for ecosystem. our employees and our beautiful campus here. it's being successful. >> so that is completely off the table? it is not going to happen? >> it's a great model. we're going to stay that way. >> dave, we have seen an escalation in the war of words when it comes to china and the u.s. in cyber packing. your company was at the heart of the indictment of five members. there's a notion that there's increased retaliation by china. china says it's going to be looking at ibmservers. have we seen an increase in activity that you have been able to detect because of the indictments? >> well, i can't say we have seen correctdirectly because of
indictmen indictments. over the last years we have seen a steady increase in cyber attacks. perpetrating crimes against america and western world companies. we're seeing kind of an eastern front and western front. and probably more to come unfortunately. >> and it was an apt report that led to the five indictments. as we hear more and more about this, are your products or solutions being employed more? does this mean more business for fireeye? >> it probably does. on one side it's good for the company. we're seeing tremendous need for our products. much like pat's company, we invebted machines that study security behaviors. the product works very, very well and the company's technology is being deployed to
target examples to ebay examples and it works and we're seeing a lot more thrust for our products now. we're in an important place as a private company. but at the same time, we have got to be responsible with what we're doing with reporting as well as partnering. >> are you worrying about retaliation from china? >> no matter how you look at snowden and all of those issues, it was a black eye for the u.s. and by implication a black eye for u.s. it. obviously it's in every conversation we have with foreign customers and governments. our business model is focused on enabling governments to run on their premises with their employees in their networks and on their data center. we're least affected by it. but see it as a overall effect for u.s. it. >> you actually think iran could
be the next big threat. what are you seeing in terms of activity against the u.s.? >> we're seeing a leveling of knowledge rising almost monthly right now. the iranian organizations have the capabilities now, the ajax security team that we announced which was a release. what we're finding is sophistications going up. the ability to bring down organizations like the las vegas sands casino with destructive kind of natures behind it shows that sophistication is going up and the capability is getting higher. when you see that, it's a little nervous. we're seeing cyber sabotage and the world is getting more dangerous. >> are you looking at the way the u.s. is responding to china and seeing that as a blue print as to how they're going to deal with other cyber threat from power countries? are we doing enough here?
>> i think we need to do more. we need better stronger policies in place. we're watching just really egregious activities occur. when countries military intelligence -- >> so the white house needs to be tougher? >> i don't know if i would say tougher. we need to continue to do what we're doing. ultimately we need cooperation and co-a ligs with china and russia. until we get there, we're going to see more cyber war unfortunately. >> last question, the last time we spoke was on the occasion of your earnings and your stock had a rough day. you have got through 96 million shares and execs had vowed not to sell. how long does that vow stay in place. the day has past but the shares are available for sale. >> was there a change in the stock price? no. seriously we had almost a perfect storm. we had a lockup expiration and shift in sentiment on the
markets value perception and a lot went on. we have come to a lot of that. the lockup expiration is little bit overblown. most of the shareholders in the company are very, very bullish on the company long term. we have great venture capitalists and we feel really good about the businesses for all the reasons we said. >> how long does that vow last getting back to the original question? >> i'm not in the market for selling. so the executives aren't selling. the main directors and officers aren't. we feel good about what we have done for raising cash and growing the balance sheet for the company. we're making sure we do the right thing for shareholders. >> pat, on tech valuations, we have -- i have been talking to dave since the stock was below 90, then 90 and down to where it is now. how do you view what's going on right now in technology in the
stock market? it seems like there are pockets of strength and that tends to be old technology, a quote, unquote. microsoft, ibm, apple. >> i like to think about things in three buckets of tech. we'll put dave in the hot tech bucket. we see in the new tech bucket and the ibms and hps, generally if you look at normal metrics. old tech is generally undervalued. new tech, and then we saw the large correction in the hot tech. which was way overvalued and somewhat corrected. when we look at tech overall, it's not extremely valued. over here in the super hot tech, it's still pretty, you know, laid up there in the strats fear. >> he just said you're stock valuation is in the strats fear.
>> i disrespect respectfully. you're finding newer companies with much bigger market opportunities than we ever saw before. so whether you think we're overvalued or not, i think you have a situation where the market elasticity is massive for companies like us. for vmwear, too and fireeye, we have seen more marketing opportunities than ever. >> thanks for joining us. straight ahead, hear from palo alto and speaking with marc andresseen. >> coming up next, gold sliding over 2% as the market hit new highs. could lows be in store for this precious trade. plus melissa is sitting down with marc andresseen.
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welcome back to "fast money." check out what's happening with 3d systems shares. down about 4.5%. increasing the company's share count by almost 6%. the offering would yield gross proceeds of around $327 million. that company is going to use to finance future acquisitions for working capital purposes. the stock down 4.5% on about 113,000 shares worth of trade. mandy, back to you.
>> after a comeback month of may. what do you do with 3d systems now? >> i don't think you buy it. it's going to be to survive in the future. to me, i think you wait and let this thing get washed out. i don't think you touch it. >> big gains in bank of america today. those shares seeing their biggest gain in over a year after resubmitting a capital plan to the fed. one month after being forced to suspend payouts in buyback on botched accounting. karen? >> i'm long bank america and have been long since before they failed the stress test. this is a temporary phenomenon that they were going to resubmit. that in itself isn't really news. perhaps quicker than people thought. i think this is overdone. i hope this is the end of the selloff. i think it's attractive to own. they'll be able to deliver some of capital to shareholders
either through buybacks or dividends. if you're patient, this is a nice opportunity. >> got to be patient. let's do gold. the yellow metal closing. we should note the moves that we saw in the miners here. as ryou can see, they're on the board. tim? >> the gold miners look interesting here. i think in some cases they're oversold. gold has been trading in a tight line. got smacked down on a day when ukraine escalation, if anything, says there could be some pressure on the structure. gold should be rallying on a day like today. gold is going to 1,200. and next stop is 1,250 and the breakdown is not good for the miners. but the miners to me, i think, start to look very interesting around hire. >> after the break, melissa lee back from silicon valley. and marc andreessen.
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. welcome back everybody, to "fast money." live at the nasdaq market site. time now for the big movers of the day. we have got a pop in the form of semant semantic, guy. >> better day than that. it sold off late. i think this stock goes up to $23.5. >> pop up for aeropostale. >> this is not a name i go running to. a lot of people think this is a zero. >> a zero? >> it's trading like it, yeah. >> speaking of zeros -- >> staples dropping by 2%. dan? >> last week they disappointed and got it down. huge gap, 13%. continuing to go down. you look at the chart and back
it out on a five-year basis. i don't think you want to go bottom fishing. just think of amazon and think weather, q1. it doesn't look good. >> we have got a pop with north atlantic dripping. >> we don't know the full details yet but ross net came into their store and said we'll take everything you have. very good day for them. >> as the russians will do. >> china taking on silicon valley, companies like cisco and ibm. our question is whether or not it's just the beginning. let's send it to melissa lee. she has an interview with marc andreessen. melissa. >> thanks so much. marc andreessen being one of the founders. i wanted to start off with what is in the news. that is the escalating situation between the united states and
china when it comes to cyber warfare. china announced it's going to be looking at the servers, possibly replacing them with local brands and accusing cisco with being complicit with the united states government. what do you think the impact is on american technology, the industry? >> i think there's two dangerous scenarios starting to play out. one is this, which is as a consequence around the issues of snowden, is the american technology industry -- i think it's very big for the economy. and also big for american national security. it wouldn't be good for the intelligence agencies either. the other bad things that's happening is the increased move towards the bulkized internet. take more control of it in their own country. both of the these trends are very concerning. i'm very nervous, upset, anxious about this.
i wish the u.s. government, i wish the obamacare administration we -- obama administration were in front of these issues and i don't think they are. >> would they get a b? c? >> up until the chinese military offers search officers -- not much has been happening at all and very little engagement with the technology community. this thing where they indicted the officials, maybe that's a smart thing to do. i keep wondering are we going to dispatch teams to go get these guys. >> will china continue to retaliate and block company from that growing market? a lot of technology companies are having difficulty in china.
what duo you think is the worst case scenario? >> sort of a japan -- sort of what happened in the car industry which is the american companies continue to sell cars in the u.s. and maybe in some other countries. much like the japanese car industry was protected in japan and able to use that as a spring board to go global. by the way, they should go global. they have got in some cases. great products. they should go global. it would be nice if american tech companies still had a role to play and still had significant market share internationally. i think we need more political leadership. the current trends are heading in the wrong direction. >> what exactly does the bulkize t internet mean, the twitters of the world, facebooks of the world, what does it mean separate internets for different countries with different rules? >> not picking on russia but several others like this where they have had the internet come
into their country and the american internet companies come in and they look at the chinese approach and the great firewall of china and the control they have. they say we wish we had that. it's hard to put the internet jeanie back in the bottle. so along comes snowden and these revelations and you have a domestic political issue in your own country and say see, look, the americans are doing the stuff to protect themselves. next thing you'll have censorship and protectionism. american internet companies run the risk of being blocked out these. the large internet companies will probably do okay. one of the things these countries are trying to get the big internet companies to do is put servers in each country. the internet startups will suffer a lot more. >> the companies that you invest in. >> will suffer a lot more. today we have lots of startups.
they start four kids with their laptops and raise $4.5 million and they'll have first users in a year. they'll have users in the u.s. and whatever other countries allow the free-flow information. it's going backwards for our industry and for the internet and for the people in many of these countries. i don't know that russian citizens are going to be better off with this. >> if they only have a russian internet. >> with the putin administration being able to control and dictate what they can do. i think it's a bad thing. >> huge consequences. marc, stick around. we're going to talk to marc andreessen about bitcoin. the last time we talked to marc was three months ago and at the time tech valuations were okay. a couple of portfolio companies of his found as much as 4%. was there a bubble when "fast money" returns?
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♪fame, lets him loose, hard to swallow♪ ♪fame, puts you there where things are hollow♪ the evolution of luxury continues. the next generation 2015 escalade. ♪fame welcome back to "fast money." we are live at the vmware campus in palo alto. marc, i want to get to the bubble. you're laughing because -- >> i thought it was over.
>> i don't know. you tell me. because when we're taking a look at the portfolio companies, a number of the companies have had declines. twitter is down 44%. vi zoo lilly is down 45%. what was it? >> apparently the double is over. >> you're acknowledging that was a double. >> one is i would say the name of your show is "fast money." i would say we're slow money. and our goal is to have a ten-year outlook. the great saving grace of venture capital is our money is locked up and we invest with a ten-year outlook. we're holding a lot of these stocks. we're holding twitter stock and perfectly happy to hold. i'm holding my twitter stock. people argue about the valuations. i would say say if you're overvalued stocks, don't make a
bubble. when stocks do get undervalued, another thing that happens is lockups come off. a lot of stock comes into the market. it takes time for the investor base to build their positions. i don't think it matters that much to what we do and it matters that much to the ultimate fate and future of these companies kind of what happens to the stocks in the short term. >> when it comes to lockups we have seen the happen to a anticipation of -- we have seen that in fireeye and twitter as well. if you're getting any pressure or requests from company management to say can you come out and vow not to sell shares? because that will help us? >> that hasn't happened with us. it's more that we make that investment based on what we think is good for our investors. i would say maybe people who watch the markets, it is important to understand the level of sort of organized may be the wrong term. but group activity heading into the shorts and the level of
group activity that happens with the longs when the lockup is over. it has very big impact on the prices and it's very common that after the fact there's this v pattern. i'm not saying you can predict that in every single case. then these stocks go through the jirations. >> do you see areas in technology overvalued at this point? >> one of the things that's happening is a lot of money in the public market that is looking for growth and can't find it in the public market because there are small number of growth of ipos these days. there is public money and you see these late stage financings. but a lot of these companies people talk about having these private valuations. the companies are doing incredibly well and businesses are growing very fast. in prior generations these
companies would have all gone public. it happens they're still private and because they're private you can't see their financials. we look at it and see plenty of opportunities to invest. i think it's a moderately healthy situation. >> we're in the valley obviously. apple was viewed as a leader in innovation here. has that changed? will it be the leader in five years? >> over a five year period it's up to execution on everybody's part. the way i think is every company we fund, the one thing i know is they'll be obstacolete in five years. many of the great silicon valleys have gotten build -- vmware has brought one of the companies and cisco is a company that got built through acquisitions. we're outsoared r & d and
there's a fairly healthy process that takes place. on the other apple has done a lot of organic develop. i talk to people all the time. i don't know what products they have coming out. i think that's the question. if the past is any prediction, they'll have a bunch of spectacular products coming out and do great. >> is it is sign for a company to use its stock as currency because some would say that's a sign the company has nothing else to do and it's going to use the stock right now? >> i think that would be the cynical way of looking at it. look, i mean, m an& a is complicated. the big franchise countries, they have been very aggressive. apple has bought companies over
the years and google. would you rather having google having not bought the companies it bought. if you're a google shareholder you would be depressed today. it plays an appropriate role in these companies that they can use the startup communities as the farm team. >> is there an amount in the valley where venture capitol firms to be unnamed or sit on boards of companies and sell those companies to other companies on which they sit on boards or have investments? >> that really suggests the company management and boards of directors and shareholders of companies don't make their own decisions. lex luther mind control powers -- >> you don't. >> no. unfortunate unfortunately. they have got excellent legal
teams. when i'm on the board of a company and that company considers buying another company that i'm involved in, i'm out of the room. i'm not involved. i get brought back in the room. >> the deal -- >> the deal is over. i think it presumes a massive breakdown on the part of the big companies. >> let's talk about bitcoin. you're probably an evang list. are you surprised its adoption is not fathrther along the path? >> no. i view this as a long term -- >> what's long term. >> 20 years. i compare it to the internet. >> 93. >> yeah. 93 or 94. it's going do take a long time. it's a big opportunity. money is a very big deal. if you can build a new way to deal with money it's valuable. it just takes time. >> it's not that it's slow, or
stumbling, it takes time? >> the number of startups that are ramping up right now around bitcoin is staggering. we're seeing an interesting flow of company that is have all kinds of ideas. bitcoin keys. bitcoin titles and all these different kinds of applications of financial services. and that process is just starting and it's a five to ten-year process. >> is it true that you tweet in your pajamas drinking scotch? you go on these massive twitter tarades which you're infamous for. i'm trying to get a visual how a leader in technology using technology? >> i said hypothetically. i didn't say specifically i had ever done that. >> all right. marc, thanks so much for joining us. the founder of andreessen.
we're going to continue talking with marc and get his top trend investments today. >> great interview. never drink and tweet. i think we all know that. >> that's true. that's a psa, public service announcement. don't drink and tweet. >> thanks a lot. did you see that three-month chart of some of his portfolio companies. down like 45%, 35%. it was interesting said we're slow money. we've got a ten-year outlook here. >> he also said in five years you're entire world has changed dramatically. it's not as if the market doesn't begin to price in some sense that companies can't outdo the competition. i think a lot of these guys are getting run over by the competitions.
michael kors reporting its earnings and some traders are betting on a huge move in the stock. mike, what are you looking for? >> so it's really interesting. this one traded ultimately by the end of the day more than nine times its average daily options volume. and the ratio of puts to calls was more skewed than it usually is. the two most active were the weekly 90 strike puts. the buy ares of those 90 strike puts are paying a buck and a half. now, this stock actually has never really disappointed in terms of price on earnings since publicly traded. it does move pretty violently. usually moving about 10%. we can expect maybe a good size move tomorrow. the most active options are betting to the down-side.
>> what are you doing with kors, karen? >> have done an extraordinary job, they really have. >> mike, thank you very much. you can catch options action. you're first move tomorrow when we come back. "fast money" up next. true business-grade internet comes with secure wifi for your business. it also comes with public wifi for your customers. not so with internet from the phone company. i would email the phone company to inquire as to why they have shortchanged these customers.
we have laughed, we have cried and it's time for the final trade. >> i think the tbt is to be bought. i think rates are in in a range between 250 and 280 and think they're going higher. >> twitter, i think if the stock can hold, i think you want to own calls out to september looking for the q2. >> nadl, closing 9.25, that's a place to buy it.
>> great job by you. are you watching the ranger game tonight? just say yes. >> yes, i am. what sport is that, basketball? >> jetblue, i'm going to give it one more shot. i think jetblue is making a long my mission is simple. to 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! hail cramer! welcome to "mad money," welcome to cramerica. my job is not just to entertain you but to train you and teach you. so call me or tweet me @jim cramer. this, this is what