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tv   Fast Money  CNBC  July 27, 2018 5:00pm-5:30pm EDT

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two or three months with what yields have been doing is unbelievably strong. that's a question we can ask whether that's justified does it matter quite that much but that's coming live exclusive on monday in "closing bell." right at the top of the show around 3:00 p.m. eastern time. 12:00 p.m. pacific time. that does it for "closing bell." >> "fast money" starts right now. "fast money" starts right now. live from the nasdaq market we overlook new york city's time square tim see more david see more. david grass op ton on fast cbs getting slammed as all of hollywood and wall street brace for the wol bombshell report about less moofs that could drop any moment bebring you the details and tell you what it means for the stock. plus tesla now town 24% from the highs as it skids into earnings. now the short seller who called the financial is crisis taking at musk will the shorts prevail first we start off with the tech rebelled bath remaining
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on .nasdaq down nearly a% in the half taking the rest of the market with it seeming like an earnings bombshell after another. it may be time to lay to rest favorite names a sad dayen and on fast holding funeral for tech names fwun while it lasted the stories how about this time. it's different how nothing can take them down nothing except earnings, intel, mr. old value tech losing 9% then netflix we think we miss you mostly most of all. facebook you had us at hello pf and of course twitter it look took so long to get the groove back backup about you but now in a one day bear market with death comes potential revival do any of them have life left guy we kick it off with you this is a game here >> let's see the game. >> i give you a fame and ask you dead or alive intel dead or alive. >> like the song why do we come in sarah
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mclaughlinen i followed her on tour for aier all three canada sarah mclaughlin. >> i don't know what i think about you. >> you went on tour. >> shh. >> hear that that sarah mclaughlin it's alive not dead it was dead now back to live why is it alive because on valuation alone. >> it's alive! >> don't let that strakt distract. >> you it didn't we need to bolster up. >> it's alive. >> you're going to get that the rest of the show 12 times forward earnings you got to say this is inexpensive stock. a lot of analyst took down price target but look at the price target anywhere from $52 to $58 which is tremendous upside in the shares trading more than two times normal volume. it's alive. >> data center was a disappointing they're pushing
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out the 10 nano meter chip. >> until they announce management succession plan it's a problem you can't buy until that's announced. >> come on. >> look an. >> riderless ship. >> this is argueliably one of the top ten most important i would say on a steel horse it rides. it rides this is a company if you look at semis and nvidia and the high end and gaming chips do intel is in this space. data center has been a bright spot for these guys, the fact that we have tough comps it's alive. >> here an interesting -- now that nxp is free of the potential equal crom merge he would you rather nxpi. >> it's like a duck of games. >> i would go it's alive with intel. >> um-hum. >>en a rather nxpi. >> he played it right unbelievable great. >> clap him out clap it out. >> intel people talking about value versus growth, intel is
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always a value name and i think after today you leave it a couple of days i think people will be resurrected to this name it's a value name. buyers will come in. >> that's a lot. >> netflix is up dead or live, tim? >> dead. it's all the same only the names will change. bottom line here is netflix if it's a content play frankly it's flimsy i think the valuation is what it comes down to. we have been through the media sector up down and sideways. if you don't think hbo is a throughout or hulu and amundsonen is not come i don't know why nonpays for this valuation even though it's a great zbloofs i say alive and kicking. the fact is in there is two things this is not a zero-sum game there is room for multiple players. massively growing. they're -- they're -- they're international subbase whatever you want to call it. i would say this really important to look at reed hastings is not a fool he knows how to manage the street they had an internal with how
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they came up with data but he is going to fix that. he sand bagged it i would say a buy. >> how could you say it's dead though when you look at two names up there i don't want to get ahead of myself but netflix up 85% year to date. twitter up 42% year to date. >> you bits still dead. >> i don't think it's dead i don't think it's dead. it's a content play. they're a monstersy in the content world. it was disney now people look at netflix -- i don't want to say the king disney will always be that but netflix is a content play. >> do you believe they're forecasting at this point? is that a fundamental issue in terms of whether to belief the story? >> so i would -- i hate playing the game incorrectly can i play my rules. >> dead or life. >> you can't -- do whatever you want i give up. >> it's clearly alive with a caveat you like that? >> okay. >> it's alive. >> the caveat being i think we're retesting the levels we saw in april when they reported the quarter that took us up to
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40ever $414. you got to do the whole round trip listen, international growth is tremendous kpekt growth wasn't really there. but this is now the second misstep under reed hastings tenure they will pay the price in the environment we find ourselves in i don't think it's dead but there is more downside. >> the pricing. >> the prices when you raise about six years aig. >> that was the first misis step. >> in my opinion it was. >> the earning and slower growth and lack of ability to forecast that surprises don't equate to higher valuation look at facebook. >> dead. >> dead. yeah, that's a tombstone in case any question facebook is the next candidate here grasso dead or alive >> spo i'm going to say alive on this it's needing some days some weeks maybe to breathe on this but -- and i wouldn't step into all of -- all of these are the three-day rule i wouldn't step in they have to bottom out ffb has a long way to
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bottom out but it's a behemoth, still a sales jerner. >> tim. >> i think it's dead let's qualify what dead means on the show near not going out of business they're not breaking into pieces but the stamp is because again this was a disclosure issue. i think it's a governance issue if you think about data as a product i'm in the sure that they really know how to -- the cost attached to producing their product. in other words, securities a major cost for these guys going forward. we don't know what it is how do you rank a company that can't value the business. >> that was a back drop for twitter's report twitter is the next one. dead or alive. >> dead and buried. >> oh. >> dead and buried nothing. >> dead and buried. >> nothing in the report that was promising for the company. i tell you right now it's bleeding as far as the price continuing to go lower in my opinion because informs a hedge fund trade a hedge fund took the stock up and played this out. as far as i'm concerned the selling pressure is remaining on
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the story. i see it going lower. >> every other stock we talked about the hedge fund trade and the stock doubled since people said it couldn't go higher >> the only reason they did this trade with wab was for the monetization and expectations they were g going to money says not something you want to own. >> i'm surprised we can't afford the letter be rip, just so people know what thas. i had to look five times before to figure that out. >> it's alive. >> it's -- it is alive yes, thank you for flashing that graphic. i do think it's alive. listen, they have made mistakes clearly and theirability -- inability to give us the right user metrics daily, monthly, they are tripping over themselves with that said, far too valuable an entity and fact that it's now 20% on huge volume leads me to believe you see a bounce it's alive. >> all right coming up apple on deck for earnings next week could it be the next big tech stock headed
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for the graveyard we give you the details. plus cbs getting slammed on the yet to be released new yorker magazine article what does it mean for the network and the potential merger with vye come. and espn gears up to cover the overwatch competition this woke. talking to the lead commissioner about the hype live are from times uasqre in new york city more "fast money" after this
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welcome back to "fast money. check out share of cbs tanking on reports that a yet to be released bombshell article could detail misconduct by les moofs our julia boorstin live with more. >> cbs shares ended down 6% ahead of the expected article from the new yorker by ronan pharoh pharoh tweeted about an hour aig saying i don't comment about articles i haven't published if you are reading from second sources. you may not get the correct story where there is interest in down playing or spinning >> the cbs issued a statement ahead of the article saying it's investigating and taking appropriate actions. going on to say the timing of the report comes in the midst of the company's very public legal dispute. while the litigation process continues the management team has the full support of the independent board members along with that team we will continue to focus on creating value for our shareholders the legal dispute is enbetween
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movies and scherr y red stone. cbs is suing to dilute national amusedment controlling stake national amuse thes sueded back. red stone issuing a response to the board members saying, quote, the malicious insinuation that ms. red stone is somehow behind the allegations of inappropriate personal behavior by mr. moofs petition shoeps the investigation is throe and traerp a couple of analyst weighing in. barclays report saying the obvious implication is the red stone family could get more negotiating leverage of course i want to note here that via come shares moved up 4.5% on the news melissa back to you. >> thank you jewely. more on this btig rich greenfield joins us.
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great to have you with us. >> thanks for having me mels aif. >> what do you make of the situation? >> look, we have believed for literally two plus years that. both via come and cbs are too small. and it's been kind of sad watching the rest of the media universe merge and get bigger. you look at just the big news this morning, disney sharmds and fox sharmds approving their megamerger at&t gobble up time warner scripps sell out to discovery. meanwhile less m moonves has been the personal impediment to the merger of via com and cbs. from the standpoint of what needs to happen both need to get bigger unfortunately i don't see a long list of buyers for either company. the best first action and i believed this for some time is to get to get, get bigger themselves and then explore
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other transactions that could make them bigger than that. >> if we are to connect what is widely expected from the new yorker over the weekend with what you are saying are you saying this will precipitate les moonves's stepping away from the company on terms we don't know but stepping away effectively and facilitying the merger between the companies. and how does a lawsuit fit into this. >> i have believed for some time that les did not want a merger meaning he personally blocked the merger two years ago didn't want it to happen unless it was on his specific personal terms. i really felt that given it was right for him to step aside. and so whether it's just him retiring, whether it's the things that you're alluding to and julia just talked about, doesn't really matter to me. i think the key point is in order to get the two companies merged together which is good for both of them long-term les needs to be gone and we have been steadfast in
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that belief over the last 12 months. >> but if cbs prevails in the lawsuit against national amusements could it be a situation where les is gone so cbs prevails anyways so it dilutes the interest of national amusements. >> we are a big believer that delaware recognizes the ownership rights of shareholders it would seem hard to imagine when you look at controlling shareholderers like the myrhh dauk family, evan spiegel like mark zuckerberg for the courts to overturn shareholder rights and reverse decades of shareholder rights seems very unlikely we were pretty confident that cbs was going to fail in this attempt anyway this seemed like a crazy hail mary i think honestly les has been delaying the inevitable two plus years. >> in terms of retirement. >> no in terms of stopping a merger >> stopping a merger >> yeah. and again he doesn't want to do
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it -- in an ideal wormed the best case with les moonves would working to and build the combined company for the future. but i don't think les really wants to do it if he doesn't want to do it. >> right. >> but it's the best move for the company he should step acid for whatever the reason is. >> okay. rich we got to go thanks for phonecall? >> thanks for having zblee rich greenfield btig. >> what do you think happens how do we trade. >> on may 3rd, eps bet and revenue beat the stock trading $48 within a month 1/260 dollar stock. a lot of analysts raised the target process stock reports wednesday or thursday next week. i think it's still a compelling story on valuation i think the quarter will be strong and in my opinion going to want to own i don't think anybody knows what's going on with mr. -- this gives you an opportunity to buy the stock great entry level into earnings >> at one point i think the via com was bad.
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what you heard rich said putting that but it doesn't need to happen in the short run. guys talking valuation 13 times trailing, slightly more than that going forward major discount to the sector add revenues strong. probably the best of the network frankly. >> so this -- i don't disagree with either tim or guy but this story just broke basically. so you have tots whatever hurts cbs helps via com. i'd put on that trade. at least until earnings coming out. i can't argue. i had be long via com. the short cbs. close that up day before. >> because via com trading cheaper than cbs but i worry about the collateral effect in cbs management structure. if les is ousted and there is a combination of via com and cbs is there cooperation on the cbs side or do you lose key personal that makes that substitution messy? that's the concern i worry about. >> coming up apple's turn to face the fatal earnings season
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that has the rest of tech struggling to survive. if you are word worried we have a way to protect yourself against another deadly drop. i'm melissa lee. you're watching "fast money. first in business worldwide in the meantime here is coming up. >> will apple buck the trend when it reports next week? we'll tell you how to get protection plus coming soon to an earnings call near you. elon musk. will he have a meltdown? will he troll an analyst and what could it mean for the stock? we will explain when "fast money" returns
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biggest franchises thanks in large part to the gamt's e sports league. it's became the first global league with city based teams like traditional lesion when the inaugural launched in january. boasting a prize pool of $3 million. the overwatch league commissioner gives us an inside look at the epic showdown kicking off from the barclay center welcome to "fast money" great to have you with us >> yeah with, thanks for having me. >> give us an 8:45 how the teams get preciped literally minutes away from start time >> it's superexiting fans pouring in we had a huge line of people outside the center hours before doors opened the teams are downstairs, probably just resting, focusing, thinking about what's ahead of them i can't wait to see when they walk out and see thousands of fans it's going to be exciting >> as we mentioned overwatch
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this particular league has seen tremendous growth. there were nine teams in the u.s. one from the uk one from south korea, one from china where do you see the fastest growth. >> overwatch is a global support. overwatch is played all over the world. that's why we -- it was important to have a global league we have a huge audience in the u.s. but we also have a huge audio greens in mcand korea france, germany, uk, brazil all over the world. and you know what other sporting event in the world can you tune in and see philadelphia play london in a final? it's something unique to the league, the noble nature of it a and we are excite big time epic event in new york city. >> there are a lot of e sports leagues now nate focusing on different games, is this competition does this bring attention overall fnz awareness and interest in e sports in general?
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>> yeah, i think it does we are focused on what we are trying to build with the overwatch league first and foremast it's celebrating the players, the best in the world and putting on the epic experience. we do epic entertainment experiences. we have definitely i think taken a leadership position in terms of the progressional nature of the league and proud of the owners many of them from traditional sports, great owners from endemic e sports as well and all over the wore. for us it's about celebrating the players but doing so at a high quality bar and creating a product incredibly professional. >> nate, tim see more fired up to go tonight. what did bob kraft bring the league from a sports perspective? >> well, i think what's really exciting from my perspective is tonight we are going to be live for the first time there's never been an esports event live in primetime on a espn one. fans will see philadelphia and london it's looking familiar to what
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they see on espn we have heard that from fans all over the where the city based nature of the overwatch league is a great on ramp into becoming a fan and if you're a new yorker you have pride in being from new york it's only natural you support the new york time with all your heart. >> nate thajs for your time i know it's busy nate of the overwatch league. >> awesome. >> shocked tim -- he is going to be at the barclay. >> i'm a gamer -- did i have the chief. >> he is the game correspondent. >> it's nice they are on the espn not the ochoea sports reported last night great quarter disappointing guidance stock down 9% more room to downside we talked about take two that's the most interesting one. a little more expensive they report next woke i'd rather be there. >> between electronic arts activition, blizzard they are up 19 petros year to date but take 2 has been the
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underperformer it has a smoother taqle chart but activition blizzard is where i want to be longer time. >> i agree with guy. take two from a valuation perspective that's the name you want to own in this space right now. >> all right time for the final trade it's friday show is fast. >> friday dead or life jon bon joef twitter alive. take down by president bush it's not the same story we volunteer our information to twitter that's why we like it. >> sea berg. >> cbs i'm a seller of cbs there is too much hair on the story right now. just getting momentum. i would avoid the stock at this level. >> grasso. >> i used to have a favorite in domino. >> i thought you were saying pepperoni. >> you beirut me there many i'm going to mcdonald's now. spoke to management exited about the second half of the year. mcdonald's mcd. >> next week is a crazy -- it's good to have you onboard next week to steer us. >> i'm on vacation in two weeks. >> she has another vacation for
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two weeks she said. >> did you tell the people at home you'll be away. >> they know now. >> we're getting through barely. >> trade or what. >> i don't know -- us bank corps expensive but i like it. >> before i go on vacation there is options action right after this break stay tuned imagine traveling hassle-free with your golf clubs. now you can, with! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with makes it fast & easy to get to your golf destination.
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hey there live at the nasdaq market site on the steamy summer the guys getting ready here is what's coming up op the show >> don't be a. >> good advise because despite a 100% gain this year, the chart master says now might be the time to sell shares of square. pete will break it down. plus. >> he is so fine. >> what do these two men have no common. >> they're both really good looking. but only one has a way to make money on tesla earnings. mike kko he breaks


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