tv Fast Money Halftime Report CNBC November 25, 2020 12:00pm-1:00pm EST
of the journal about salesforce and slack. salesforce shares have been a little bit more of a drag on the dow, the last few moments, taking about 70 points off the index. session low on the dow was down 240. that kind of coincided with governor cuomo of new york saying new york city has topped 6,000 cases for the first time since april. have a good thanksgiving let's get to the judge i'm scott wapner, welcome to "the halftime report." means to your money, are stocks too tired for end of the year burst or perfectly primed for one last push? we debate that joining me are joe, jon, rob with ubs private wealth management is one of forbes top 100 financial advisers good to see everybody on this pre-thanksgiving show. let's check stocks
the dow coming off its first close ever above 30,000. still down 180 a lot of focus continues to be on the so-called cyclical trade, energy, banks, airlines all pacing for their best month ever rob, it's good to see you again. i come to you first because your note to our producer today really piqued my interest. the last three weeks, you say, were transformational. how so >> i think going into this, scott, we did not have a prospect for a stimulus plan it pivoted focus to the virus and the virus count really, really increasing. since then you've had three months of very, very positive news on the virus front. you've had an election outcome that appears to be more and more benign with the actions of the -- with the actions of our president-elect. specifically nominating janet yellen
it looks like it was an outcome that was squarely middle of the fairway that was not too far left, not too far right. really goldilocks like from my perspective. now you're at a place where when you look at major pivot points historically, whether it be coming out of the gold standard or volcker in raising interest rates in the '80s, the tech bubble, the financial crisis, those have been major pivot points for markets and you've seen major shifts in terms of how investors are allocated. and i think this latest move could be the beginning of such a shift. i'm not saying tech needs to underperform i'm saying i think the whole market can go up, and i think where investors want to be is in the catch-up trade i don't think that's -- sorry. i don't think that's a straight line, though and i think you can pick your spots. but certainly looking out into
mid-'21 as they accelerate and news trickles, i think it's going to be positive you >> and others agree, clearly for what the landscape holds moving forward. carrie, let's set the scene, if you will i look to come out with these lists and have us debate sort of where we are and what the state of play is we know that stocks have run a lot. dow, 30k, that's a milestone s&p, new record. the vaccine, i wonder if it's baked in at this point, at least some people are wonder whether the market's tired or it needs a breather yes, you have the transition under way. key nominees are known, as rob said janet yellen got the market all excited yesterday. what, though, the catalyst now to take stocks higher, let's say, over the next couple of months is there a catalyst left >> well, i think one of the best catalysts we could come up with is the market is broadened remember, for the first nine months of the year it was really a tech and platform
communication kind of market the number of s&p names that had beaten the s&p as of the beginning of this quarter was about 38% or less. and now it's 60% of stocks are beating the s&p. that had to happen in order for the whole market to move higher. it was getting too narrow. in addition, if you look at earnings estimates, those numbers are also starting to inch upward. even if we look at first and second quarter earnings for 2021, when we'll still have covid through the country. everyone's not going to be vaccinated those numbers are moving up. third and fourth quarter '21 numbers are moving higher. most companies in the s&p beat their estimates on revenue and for earnings in the third quarter. >> that wasn't that difficult. that wasn't that difficult, right? >> of course, of course. >> and you could have beat the estimate, right?
>> absolutely. >> let's temper the enthusiasm a little bit based on where expectations were. my question, steve weiss, now, is okay, a lot of stocks focused around the reopen have already moved a lot. the boeing at 50%. the airlines, the cruise lines, some of the retailers. we went through the list yesterday. nordstrom right now, month-to-date is up 139% in this month. hotel stocks i'm looking at, more retailers like kohl's up 50%. is there room left in the near term for them? >> in my view, i don't think they should be where they are. i think they've gotten ahead of themselves, clearly ahead of the fundamentals it's not just that things aren't going to return to normal for a while. particularly with the airlines and business travel that's going to be, i think, permanently impacted it's that these stocks are trading as if covid never happened no matter that you're closed, a
lot of them, and taken capacity out of a lot of them in terms of store closings, et cetera, now you expect those stocks to do better than they were doing better before where you still have the same issues affecting those industries so i think that's purely been momentum trades. momentum trades go until they don't go, but they're not trading up on any type of reasonable fundamentals. they should not explode when a vaccine is actually in the market they've exploded already >> but does that mean i can't buy any if i'm watching today? i'm sorry to interrupt you if i'm watching, i can't buy any of the so-called reopen or epicenter stocks i mean, how do you make the differentiation of ones that shouldn't be where they are versus ones that still have a lot of room to run >> well, i think you can buy some the ones you can buy have been ones that have changed their business model a little bit. that have responded to -- that are seeing increased interest in what they do and what they bring to the market versus before. so, to me, that includes some of the technology names
to me, that includes, if you take a -- you know, a salesforce they look at slack as we may talk about. >> but that's not an epicenter stock. come on, that's not a re-enter stock. >> let's talk about honeywell, a stocky recently bought honeywell is -- look, they're doing more and more both on the esg side they're doing more in the automation side. so, they're positioning themselves better for the work from home, the stay at home, the work anywhere type environment the autos, you're going to see less people taking mass transportation so, you can still buy those. so, yeah, there are some you can buy. can you still buy zoom here? zoom is staying with us forever. but is the valuation staying with us forever? i don't think i think so i think much of the inroads have already been made. >> joe, maybe the so-called reopen or epicenter stocks are getting harder to fine, ones that are okay to buy after the
kind of gains that i laid out for you. however, leave it to tom lee, our buddy tom lee to find more because he's added now 14 names to his, quote/unquote, epicenter trifecta list. they include a number of energy stocks, discretionary names, hasbro, polaris, financials, mgic, jb hunt, energy, helmerichip and national oil well, pioneer, hollyfrontier, marathon petroleum, phillips 66, sonoco, vornado. maybe he's searching far and wide to find new names do these make sense to you >> tom's done an excellent job identifying stocks that are highly heaviered to the announcement of a vaccine and the expectation for a quick reopening. two names stand out here for me. number one would be j.b. hunt.
that is a name that you're purchasing not just specifically on reopening but also the quality of its balance sheet vornado, that is directly related to a reopening here in new york city. they have a lot of real estate assets that are tethered to new york city. so i think what tom is doing is answering your uestion, scott. i think you're trying to identify what's the difference between an epicenter reopening stock and then a stock that really is a falling knife that seems to be rallying here in the last five to ten days. let me just give you a quick illustration on that if i go back from when the pfizer vaccine was announced on monday the 9th, the s&p is up about 3.5% if i look at the top performing 100 stocks in the s&p 500, since that moment, do you know, scott, only five of those stocks are actually higher year-to-date so, that tells you what we've kind of transitioned towards
here this is really about the falling knives beginning to participate, in addition to a lot of the epicenter stocks that had already been participating tom's done a great job identifying those already. >> yeah. jon najarian, what do you make of these additions are we trying too hard to find other reopen or epicenter stocks that are worthy of buying right now? >> it is getting harder. and i think to everybody's point, when you have some of these stocks, even the vegas stocks, scott, and we know how it's been impacted, whether it's vegas sands, whether it's winn, mgm, cesar's, a lot have come back to, within, 75% or 80% of where they were prior. and yet the business is nowhere near that level. to steve's point so, one of them that i talked
about yesterday for unusual, sabre is less than half of where it was back in january-february time frame where we got this hammering. so, i think that is what you're looking for. you're looking for stocks, scott, that are somewhere in that 50% or less even, if you can find them, range of their january and february numbers not necessarily chasing the ones that are already up there 75% or 80% of it. yes, there is still alpha in some of those names, but i think there's far more in a stock like sabre that, you know, we all know if you're booking hotels and airfares and moving onto things like that, if people are starting to get rolling again in that space, these guys are right at the epicenter of that, to borrow from tom lee. so, that's what i'm looking for, scott. those are the ones that i'm still adding to. the others are the ones that i'm lightening up on am i exiting completely?
no but am i lightening up or selling at the money against it? yes. >> you're still going to have this debate. it's not going to go anywhere. it's going to continue into next year over growth versus value, what is deemed to be cheap, still cheap or a willingness to continue to pay up for growth. you know, as you look at the stocks that have had great runs. that leads me to the salesforce and slack news that "the wall street journal" has broken steve weiss mentioned salesforce, in talks and has been in talks, apparently, to buy slack. i want to welcome in josh brown, who's called in on the brown he used to own slack, if you recall so i wanted his take on this from somebody who knows that company better than most josh, thanks for calling in. >> yeah, so, scott, this was the deal that i always thought made the most sense and that i thought would some day happen and we don't know if it will definitely happen, but this is such a no-brainer. it's such a home run for
salesforce it's a great exit for slack shareholders, assuming no activist comes along and tries to stop it and for users, it's going to be incredible because i'm a huge salesforce customer. salesforce has a service full of chatter built into it. and my employees sometimes use it but prefer slack. i can see salesforce removing chatter, having slack be that in-house employee dialogue engine, and then employees could assign each other salesforce tasks directly in slack. it would just be a phenomenal combination. and the other thing i would tell you about this, this pits salesforce against microsoft this is going to be absolutely epic microsoft has up to 75 million teams users. slack is at 12 million users which is impressive. they were at 6 million when
microsoft invented teams but they're so far behind that i almost feel like they need to do this deal. and then salesforce on day one, once this closes, could zoom that number up salesforce has 150,000 paying customer companies, about 83% of the fortune 500 companies, using salesforce those are all potential slack users. >> so a couple of questions off that, if you were optimistic about slack for so long, when you owned it, why did you ever get out of it? >> i just felt the pressure being put on the company, and stewart butterfield has been quoted saying microsoft is killing slack, there were easier trades to make i bought slack the day it ipo'd. i added to it, i added it to in april when markets were crushed and i got out at 29 on august
24th i had to look back i probably left some money on the table but there were too many other trades that i felt were easier. >> the other interesting point, i think, is it speaks to the overall conversation, josh, that we're having, and we have every day about the willingness to pay up for growth. not only as we're now learning from investors themselves, but from companies that want to do deals with these companies that no one had heard of a year ago now you're willing to pay up if you're a salesforce for the kind of growth that a slack would deliver for you that would enable you to better compete with microsoft in certain areas. now, salesforce is up 56% year-to-date our dom chu points out on twitter, that's a lot of capital to work with if you're salesforce, and the journal talks no price he with don't know what kind of premium we're talking about, but
slack has been no slouch when it comes to its own stock gain. those are all kind of things to consider in the context of this potential deal >> yeah. so, here's what's important. it's like a chicken and egg thing. people say, oh, facebook stole instagram. they got it for $1 billion instagram would never have grown to the size that it did had they not been bought by facebook. and facebook mapped its entire social graph over to instagram and tens of millions of new users within the first few months started using the app so, it's salesforce takes slack, they can use slack as almost like a premium way for people to start slowly coming into the salesforce ecosystem, who could then be upsold that enterprise software so, slack has more potential as being part of salesforce than it does on a stand-alone basis because of the might that salesforce has and its inroads into the fortune
500. that's really what the potential -- look, it's transformative for salesforce, i think. it will be the biggest acquisition they've ever done. enterprise value right now is -- assuming this is the premium already. you're talking like $20, $21 billion. the only ordeal they've done close was tableau and that was probably transfirmtive i think benioff is the guy that could really build slack so, if you're a salesforce shareholder, i think that that's how you win. >> yeah. that's exactly why i wanted you to call in i so much appreciate your insight. thank you, josh. we'll see you later on "closing bell." >> happy thanksgiving. love you guys. >> happy thanksgiving. you can catch josh on "closing bell." jon najarian, i don't think you own slack but everybody owns microsoft so you can address it from that angle, if you'd like >> yeah. well, number one, scott, there was huge buying on slack calls
today just ahead of this announcement somebody's going to take a hard look at that and just as we were coming on air, the volume in the calls was up over 67,000 to 14,000 puts. that's way above normal. and now it's right now at 119,000 calls. so, it's almost doubled while we've been on air, the number of volume traded in the calls, upside calls of slack, scott i got to believe this deal, if a deal indeed does happen, and it certainly seems like it, happens north of 40, probably 41, 42 the june high was right around 40 and even though we've gone nearly parabolic here, scott, breaking to $38 or thereabouts just moments ago, i think it goes north of 40 on a deal that doesn't mean we go there today. to your point about microsoft, this is still the killer microsoft embeds this with everything that's part of that
ecosystem, scott, which means you subscribe to microsoft 360 you're getting all of the goods with that, and then they just keep making things like teams better google has meet. again, zoom. both of those guys going after zoom and now you've got microsoft obviously with a real focus on slack. and you don't think that focus gets even more so if this goes over to crm/salesforce i think benioff has a real -- i'm not saying there's only going to be one. this isn't highlander. but i do think you're going to see microsoft really go after crm in a big way here. >> so, another microsoft holder, carrie, your thoughts? >> well, we own a lot of crm, more crm than microsoft. i think this is a great deal for them if it happens remember, in the middle of august, crm was $60 billion lower in market value than it is now. so, this deal can cost them $20,
$25 billion. it's not going to touch the gain we've had in appreciation on the salesforce stock itself. and remember that during all of covid, what you've this is an acceleration of adoption, of various crm systems across the world as people have been able to integrate their entire enterprise that's been remote in a way that it would have taken years for that to happen for salesforce so, i think this is a perfect time to do it. and i think they would welcome the competition from microsoft i love microsoft, but a huge fan of salesforce. i also like to it's rate what you said about the growth side of things. it just shows that where there's growth in sales and earnings, it's worth something and it's -- you have to pay attention to that relative to the valuation that we've now given to, you know, some of these reopen plays, the value side, the cyclical side. they do not have that type of
upside and just if you could put that chart up, there's a little table that vin made for me today crm is a pretty expensive stock, but still the growth potential in deals like this is much more than what you're going to get out of the reopening trade some of those stocks, as you said, are getting pretty expensive and trade pretty close, very close to where some of the big growth companies are trading right now. >> weiss, you've got to pay up if you want some of the action, right? that's what we've learned, if nothing else, throughout the pandemic >> yeah. and you're paying up for quality. and i don't want to pay up -- look, here's how i look at it. you've got to be -- you're either a stock investor or a fundamental investor if you're a stock investor and when i'm investing in honeywell, i think it's a little elevated in valuation, it's because i think it will go higher. as a fundamental investor and a stock investor, i'm getting that
in some of my other names. those are my long-term plays so, that's whether it's qualcomm or whether it's jamia, also a stock and fundamental play, that's where i get that. so, you have to know what you're doing and why you're doing it. in terms of salesforce, if they're using stock for this acquisition, then they should go do it. the stock's gotten not cheap it's expensive i think it will continue to be expensive, because it always has been, but you should use it as a currency it's a phenomenal currency to use. but i don't mind paying up, taking a long-term view, a year, two years, three years, five years for a core position if i think it's going to eventually exceed what i paid for it. >> but, i mean, i'm looking at some of the moves you're making. it strikes me that you're trimming from areas that have had big growth, particularly in the last few months. you know, apple notwithstanding. that's had great growth all year long you've tripped apple, you trimmed qualcomm, you trimmed
qorvo. does that tell me you're rethinking the runway that's ahead or at least the power play in these stocks moving forward that maybe they take a little bit of a breather or a backseat to where we started the show with these reopen and cyclical and economic comeback stocks >> no. and the majority of my answer is no i'll tell you why. i've been looking at trimming those names because they performed so well. skyworks i trimmed earlier they're all still core positions, putting apple aside, which is a core position they just got way too big. once the momentum, once the stock traders, those momentum traders stepped aside t means they would come back to earth. so, come back to normal portfolio positions. so, i see better opportunities to generate alpha in some other areas. so, the point of it is, is that
i wouldn't say i was loose with my risk management i was on top of it all the time. but all of those positions were way, way too big so, i'm just cutting them back so, it's portfolio management. and that has been my intent. we saw jimmy say, look, i'll own roku until it stops going up and he got rid of it all that was a complete trading position these are fundamental. and i owned an oversized core position until they stopped going up and so i think they'll reassert. i don't think it will keep going down and those are ten-year plays, for sure. >> roku hasn't stopped going up, that's the only problem. >> i didn't say jimmy was right. >> i'm just saying you -- >> that's something i'll never say. >> but if you want to use that as an example, there obviously are examples where you think that something has stopped going up or the momentum has seemingly stopped, but this market can make you pay in other ways with these kind of names that continue to go up. joe, i want to come to you,
before i take a break, to go over some of your moves. you sold abbott labs you sold extra space, which is exr for those playing wherever you're playing today, exr, and texas capital, tcbi. i think that was an energy play through a financial stock. but you tell me. >> yes, sir. so, i sold those three names those are three names that have benefitted significantly on the announcements of a vaccine i'm paring back, obviously, selling out of those, raising some cash. instead of holding what would be the kind of melting ice cream cone of cash, i'm reinvesting that money into the strategy that's represented in my index, which is - >> the joe t >> the joe t. etf tracking viewers can always assume i'm going to put money -- if i can't find an individual equity name,
i'm not going to put the money in cash. i'm going to put it into the strategy just real quick if i could, scott, real quick on this crm, there's a trade here and i believe the trade consistent with what carrie is saying is to buy crm you're talking about the reopening and looking forward to 2021 don't you think capx is going to in 2021 on the reopening accelerate don't you think i. tmpblts spt.s going to accelerate? salesforce reports earnings next tuesday. i believe december 1st they're going to report. this company is a buy. they've done a phenomenal job integrating tableau in the past. if this is going to be an acquisition they're going to be successful on, it's signaling to you i.t. spending is coming back on the reopening salesforce is repositioning for it it's a name i would consider buying and i probably would sell adobe to raise the funds to do it. >> interesting let's do this. carrie, i want to take a break and then i'll come to you about yo you are move, which is interesting, too let me get a commercial break
sue herera has the headlines for us >> i do, indeed, scott here's what's happening at this hour new york state reporting another big increase in covid-19 infections with more than 6,000 confirmed cases in just the last 24 hours that is the most for that state in a single day since april. in southern california, fire watches will go into effect on thanksgiving due to concerns about heavy winds. southern california edison says it's considering shutting off electricity to 76,000 customers to avoid starting wildfires like those we saw earlier this year in pennsylvania, a state court has ordered state officials not to take any further steps following the certification of the state's presidential election results. nbc news says the lawsuit is unlikely to succeed in reversing biden's win. a court hearing is scheduled for friday and one of the greatest
soccer players ever has died diego maradona led argentina to the world cup title in 1986 with one of the best goals ever as well as the controversial hand of god goal. he was 60 years old. you are up to date, scott. that's the news update i'll send it back to you >> happy thanksgiving to you see you on the other side of the holiday. carrie, fortive and vonteer, you bought more of both? >> yes we've been adding to those fortive, vontier was a spinoff they're both industrials they were both spun out of daniker which is a health care/instrumentation company they are both pe, particularly vontier to the extent they do the measurements and they do a lot of the kind of fine-tune
testing at filling stations and other types of gas and fuel-related mobility centers. we thought they were both reasonably attractive stocks they attractive in terms of industrials, which we think is a reopening play and we were light on industrials they have a runway of, i'd say, gdp growthle going forward, if we have the vaccine and more reopening, driving, of course, has been picking up for months we don't see that that's going to slow down over the next year and fortive does an increased number of instrumentation panel measurement systems for, you know, highly tuned and specific types of capital equipment companies. and on their own, we think they're better within danaher and both very attractive here. >> thank you for that. let's go through some of the calls of the day, if we could. first up, weiss, ford,
downgraded to equal weight, morgan stanley they say their electric vehicle strategy is not clear. the target remains 9 bucks you own shares of letter "f. >> i do. it's been a great run. let me ask you this, when they do reveal -- >> go ahead and ask. >> -- their electric strategy, what's the stock going to do >> why are you asking me >> the stock's going to go up. >> do you want to call morgan stanley? >> i want you to see what it feels like to sit on this side of the desk. >> can anybody get weiss in touch with morgan stanley about their ev strategy? james gorman sometimes watches this show, by the way. you heard this, mr. gorman, from steve weiss. you can address it directly to him. >> yeah. i'll tweet out my phone number look, i'm staying with ford. let's stocks trade in unison there's very little divergence
ford does have an ev strategy when it becomes the clear the stock will take another step up. i did buy gm, followed my good friend jim labenthal into it ford will keep going up because it's a cheap stock it's very cheap. i'm sticking with it >> don't mock farmer jim without farmer jim you wouldn't have gotten into general motors. the price target, by the way, goes to $53 at the aforementioned morgan stanley, the firm that's done that. tell me about that >> jim's had a great call. i do wish i had listened sooner and got on board sooner. >> you can stop right there. we'll hold this tape forever compliments from you, few and far between. we've got to hold this and rerack it every time we need one. >> i throw them around like manhole covers doc looks very good playing king
leer in his throne room. but gm will keep going higher. there's a scarcity value that's why i bought gm. >> fisker, jon, price target $26. you own fisker calls, you own neo calls, you own tesla calls, you own lee calls. you previously owned nikola calls. >> see, this happens - >> it's really incredible. it's incredible how often that happens with jon's mike. it's at least once per show. >> fascinating it's fascinating i'll just give you names sensada technologies, which is delivering the electrical
components into these evs. it's a small cap, i've been in it unfortunately, i shook myself out of it too quickly. forward value looking pe around 30 that's a nice complement to some of the ev trades that have been suggested previously the ticker symbol on that is st. >> assuming we can hear from jon again, we will do his unusual activity trades next prosecute before we go to bt me show you the s&p sectors with the s&p giving some back today do we have that? discretionary, technology, staples are in the green the s&p is down nearly 10. the dow is down nearly 185 after hitting 30,000 for the first time ever yesterday. and closing above that level black friday is here early.
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scott, we have some real strong activity in palantir i talked about how the feedy frenzy was going on in work options, which is now up over 180,000 calls. in palintir, this is big buying. they're buying aggressively up to the may 40 calls. this is a stock that came public basically just about six weeks ago, scott, at ten and now it's already pushing into the high 20s. i bought the january 30 call, scott. like i say, they're buying all the way up to the 40s out in may. there's a feedy frenzy in palantir over 380,000 calls double what we see in work right now. second trade, scott, lows. the march 170 calls, aggressively bought. this is one you normally see a lift into march and that is baz because, of course, people go in there to buy their early plantings, so forth, get a headstart on springtime.
i'm buying these calls the nov 170s at about 153 bucks a shot >> thanks for that speaking of lows, steve weiss, you sold lows. tell me why. >> when they reported the quarter, which by the way i thought was a pretty good quarter, and i said, i've been thinking of selling it anyway. waiting to recover it to the old high and look at getting out i just decided that the stock is acting tired and even if it recovers to the old high, i have other places to put my capital, which i think will generate much larger returns i've done that and i also think that there's been a lot of pull forward to all these companies going back to what we discussed before. and that's not going to follow through to ad infinitum. >> thank you for that. coming up, ask halftime is next. you can send it in by video,
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let's answer some of your questions. a video question for steve weiss on alphabet and it comes all the way from ireland >> hi. this is govinda from ireland, dublin i would like to ask advice on google, if i could keep it, sell it or add to my position thank you. >> okay. thank you for your question. all the way from dublin. steve weiss, google, what to do. do i keep it do i sell some what do you think? >> first of all, love dublin, city i've been to. great city, great country. in terms of google, i own it it's right up there in one of my top positions. i would say it's number six or seven. i think you hold it. google was a major underperformer relative to the other big cap techs for a long
time now it's come into its own in the last quarter where they finally controlled spending. i think the momentum continues in the stock it's not going to be up 5% or 10% every week or every month, but it will march steadily higher you do have the political risk of the anti-trust hearings but that will take so long to wind their way through the courts and at the end of the day, if they break up google, this is one where the sum of the parts is worth more than the hole. i continue to like it. i would hold it. i'm not adding at this level, but stay there right now >> joe, for you from yash in new jersey, is morgan stanley a buy? be careful, joe. weiss is already on gorman's list, so i don't know if you want to be there, too. >> i -- >> wait a second let me clear that -- >> i think -- >> he's a great analyst. >> it's too late you already dug your hole.
joe? >> amongst many holes he's already dug. morgan stanley, scott, you can't say this about other financials, can you? traded to its highest level yesterday since 2007 so there is certainly a lot of strength both in terms of quality and momentum behind morgan stanley i own the name i'm going to stay with it. on a forward-looking basis, again, it's cheap. the pe is 12 they just did the e-trade acquisition. they have a lot of strength fundamentally in the business model, both on the wealth management side, m&a, investment banking. they really have recreated and positioned themselves for the future, fantastic job. congratulations to james gorman and the management team there. they really are hitting it out of the park. >> wow what a suck-up >> scott, scott, i'd like to -- i'd like to echo everything that joe just said. >> okay. >> jon najarian to you from
tyler in new jersey. with black friday coming up, what is your top pick in the retail names that's from tyler in new jersey. jon? >> all right, here's my pick number one would be lulu, number two would be target stores, tgt. i loved lulu before. i love it even more now that courtney's on their board. i know she's not setting strategy there yet, scott, but i think that this is a great stock to own long term target, same thing brian cornel, he's hitting the ball out of the park the reoccurring revenue from their subscription model also works for them much like it does at costco, walmart and amazon. i think these are two to own for a long time, scott. >> that's what happens with the najarian brothers. you ask about a specific stock and target comes up. big shock. >> yep, it does. >> wasn't even the focus of the question why am i not surprised
boston scientific, 25% peak to trough and it hasn't kept up with the market or the medical devices industry what do you do >> well, tony, i guess i'm a gluten for punishment. we've owned it all the way down. they had a recall. i think they've taken the lumps. they should start to accelerate. they can focus on the present and the products that are in the market and have more people do elective surgery therefore, i would hold it right here >> okay. rob, finally, stacy in miami wants to know about oil. what do you think about oil? >> i understand the temptation to get involved. it's the worst performing sector of the year. down mid-30s, up high 30s month to date so i understand the desire to chase. i would say short run, i think it may continue to run as we get into year end, could face some tax-selling pressure and more intermediate, there's too many headwinds for me to be involved in the energy sector.
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it's time for the futures outlook. gold is higher on pace for its fourth straight monthly loss for more let's bring in kkm financials jeff kilburg. you are a buyer at these levels? >> i am. i am a buyer at these levels i think rob hit the nail on the head earlier, judge. he talked about the pivot in the
marketplace. it's really interesting to see how allocations, not only from family offices but financial advisers but active investors. we've seen a pivot point, and the major shifts in the allocations and gold will receive a higher allocation. there's a lot of technical reasons. to your point you did see a 5% pullback, nearly hat 2,000 and here at 1,800. this is where i want to be a buyer. looking at a target up to 1850 me hand michael have been stopping at 1775, judge. therefore, i'm risk 2,500 to make $5,000. >> good stuff. happy thanksgiving, jeff, to you and your family. see you on other side. >> appreciate it happy thanksgiving, pal. >> let's go to cnbc.com to read about why the bull market in gold may not be over goldman and citi see prices soaring much higher xteane yr. final trades are next.
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and this town said: not today. (music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries. less than a minute left. final trade. steve weiss, you're first. >> you know, joe convinced me and i asked myself why don't i own morgan stanley i used to open it so i bought it during the break that's my final trade. love the management, and they are very well positioned sorry, scott you know, i'm eating humble pie today and i'm full. >> you're nothing if not predictable. happy thanksgiving, by the way. >> joe, what have you got? >> well-deserved love.
i want to buy salesforce and sell adobe to raise the funds for that trade. >> okay. carrie, is it? >> i love it booz allen, hamilton. >> quick names, john and then rob. >> wba, bought it as we just came back. >> rob >> vxf in the pittsburgh steelers on thanksgiving eve not anymore. that game was moved to sunday. >> happy thanksgiving. "the exchange" is now. >> that was brutal thank you, scott welcome to "the exchange" everyone and on this thanksgiving eve i'm kelly evans. home for the holidays. the housing market is hot and soaring prices and are both housing and stocks getting a little too hot we'll ask. plus, special delivery pharma companies are readying to ship vaccines, so how will the states actuall