tv Fast Money Halftime Report CNBC August 3, 2021 12:00pm-1:01pm EDT
sexual harassment suit and ea and zinga following on wednesday and thursday, carl >> we'll watch that. and along with more news about vaccine or mask mandates microsoft now saying the earliest date for return of the u.s. work sites will be no earlier than october 4th as we keep our eye on the market action,s&p is about 25 points for the fresh high to the half. welcome to the "halftime report". frornt and center this hour, the state of stocks and why the view of your money may be dimming we'll debate that and what lies ahead for the markets with the committee. joining me for the hour stephanie link, josh brown, michael fav. pete norwegian, the co-founder of market rebellion.com. let's see where the trade is carl said it s&p only 20 points from a new high a gain of 0.5% the dow jones good for 175 hovering around the highs of the day just a bit off we are off the fourth negatives
session in five for stocks michael, i thought it was interesting. you thought the market appeared tired. does that mean it's a rest before we wake up and carry on >> kind of, scott. we're up 17% year to date. a fabulous year. earnings have kept up. investors have done very well. cinema though is -- sentiment is blehp some say i don't like stocks right now when i hear that, that's music to my ears we've gone up a lot. it's a stock picker's market it's a time to need to know what you own and choose stocks very selectively. injury there are names out there that you can buy, scott. i have even thrown some on the website today for the "halftime report" we can talk about >> we will do that in a moment nice tease i appreciate that.
josh brown, scott minert -- you asked him a question i know you remember. he is looking for the 10% to 15% correction then you have ubs on oppenheimers raising outlooks for the s&p 500 just this week where are we what is this period we are in right now? carl said it at the end of the prior program, we're only 20 some odd points from another high on the s&p. and suddenly it feels like sentiment has gotten dower again. >> so what's really interesting here is that sentiment has gotten dower because i think consumers are registering their unhappiness with higher prices for everything in real lives the good news is that's not a permanent situation. the bad news is i do believe it's showing up in enthusiasm for the overall market and for even like look at the latest
poll numbers on biden. he is dropping like a rock and the main thing people are citing as it is obviously the delta variant and the economy. and high prices. so he is now 43% of respondents disapprove in a harvard caps harris poll survey people are not feeling as good as they were a month ago i do think this spring there was a sense of euphoria as the vaccine numbers ramped up. the virus disappearing it seemed very obvious the reopening was on now things seem a little bit more murky, which has led to a drop in small caps, drop in industrials, the reopen trade looks like it's falling apart. look at the housing plays. zillo looks terrible open door looks worse. i think there is some element of that in the market i don't think it's the end of the world. and if we're having a seasonally weak period -- seasonally it
would make sense i think we're in a no-man's land there is not a big, bold defined trend goog forward but let's not forget, july was a great month for the stock market, maybe not most stocks. but still up 2.5%. up 18% year to date as michael mentioned on the total return basis. earnings up 40 pes%. we've had multiple contraction of 10% this year, which means we're not overpaying and we could rally to year end, as balance as prices come back down in some of the things we've been worrying about and the virus is more under control, i think people will come back to the stock market >> so, steph, where does this leave us we know august is historically weak delta variant is spreading out of control in many places in this country there are now discussions that
herd immunity is not going to be reached until you get maybe close to 90%, which means a lot more infection and a lot more vaccinations needed to reach that it's going to be painful we know that prepo rates are going down we get a bounce off the bottom i just checked 117 is where we set on the 10-year. and then reopen trade that josh referenced it's you go hadley carnival cruise down 19% royal caribbean. 15 mgm, 15. wynn 23, sands, 25 josh's live nation, 12 is that trade in trouble >> well, it hasn't been fun. i own a bunch of them myself as michael and josh mentioned, this is seasonally slow. august into september. we have to watch delta and mask
mandates that's the worry part of the market right now market always worries about something, scott i worry about that too by the way, those items but i will say the economy continues to be solid, right the ism tu order leading indicator for earnings and cap exbefore six months. i know the headline number on gdp was not great. but personal consumption up 12%. final sales up 7.7%. business spending up 9%. that doesn't tell me that economy or rates are telling me that economy goes into recession. it's telling us things are slowing. but they will be above trend and by the way, this leads to earnings earnings 85% of the companies beat beating by 18% it's broad-based guidance is good i've had a number of companies i own raising dividends. happy that about that at well.
you have of an accommodative fed. they may not do anything on taper talk fiscal infrastructure is coming. s tons of stimulus in the system, yes the reopening stocks taken it on the chin they have upper air disturbance bouncing hard once we wet more control and understanding over delta variants >> i feel like numbers are behind the curve numbers may tell a story but personal sentiment on where things actually stand within the economy and the stock market can be two different things >> it's still high >> well, we're getting to that maybe it's not as high as you think. pete, where are we >> we are all taking and referring to sentiment the easiest way to look at that is where is the vix? yes over 20 once again up there for a blink of an eye and recoiled and fell back down and not just to 19 but 18.50,
18.60. it tells me a lot about -- we may have thoughts. steph brought up a lot of good data, which is the economy is doing well yes, there is slowing. but the economy is doing well. and yes the reopen trade is always going to be difficult, especially with this backlooking thing as we look at the variant. i mean, the variant is certainly something people should be and are concerned about. that part makes total sense. but how concerned are they that's why i say i look at the volatility index and telling me not as we concerned as we may think. because the true measure of the volatility -- >> no, no, you think the sics is telling the true story of the volatility there are those suggests there is a lot more volatility beneath the surface than the sics is telling. be careful about referring to that as a true measure of where risk sentiment is really at. >> yeah, well, you know, i don't know whether i agree with that or not i will say this.
the fxx, which is the short-term vix measure for the future, that thing is -- we had some huge call buying in there so that is something i was paying attention to. they were buying august, going up to the 38 strike there. and they were looking for some sort of a pop. and maybe we will get that pop as of right now, though, we have gone up to 20 and pulled back almost the same day or within minutes or hours of hitting that 20 level and pulling back. where are we right now in the market we know where we are look at the markets and performance we've had. it's been very, very impressive. the bounce back has been there and we've continued to have strong -- josh was referencing july and the nice performance that we had there even though closing it out poorly. but july another strong month. what we see in front of us -- i'd rather trust what i see in the virks than have somebody tells me the vix is showing you this but this is what i think. i don't care what somebody
thinks i care about what people are doing with their money and where they're investing and how they're investing. a that tells me the direction >> the question is where they're going to be investing and how they're going to be feel and there is a tell today that things are dimming, if you believe steve liesman's all american survey which we highlight any time he does it. he joins us with more. steve, if things are still so theoretically good why are people feeling so bad? >> i think it was said before by josh it's the virus, inflation. american views on the economy, scott on the stock market taking a zis i have turn for the worse in the survey amid growing concerns about the virus and of course inflation if you look at just 33% of the public believing now is a good time to invest in stocks, that's the lowest since 2016. and, again, lower than the worst of the pandemic. also looking at it by party. republicans have turned sharply negative on the stock market,
democrats have gone more positive independents soured as well on stocks the views on the stock market, mirrored in those of the economy where the outlook turned pessimistic. look at these numbers. 51% of the public say they are pessimistic about the current state of the economy and the outlook. that's the most pessimistic they've been since 2015. just 22% give the economy positive marks views now are worse than they were in the teeth of the pandemic back in the spring. but here is the investment question i think stephanie may have an answer is this pessimism translating -- there is a conflict >> steph, what do you make of it >> the consumer is 12% vachgs rate down from 27% andthe personal consumption number were huge in the gdp number that really didn't get highlighted. up 12% that's an ee normtz
number the consumer is fine >> backward looking >> well, backward looking. not a savings rate not a pent-up demand weall open our eyes see how packed the airports are. i got back from someplace and it was jammed not only the airports, but the restaurants jammed, airlines jammed and people are eager to get out. and if we have to wear masks again, we will but people still want to get out. they want to spend and they have the money to do it >> scott, >> jae go ahead, steve >> yeah >> jim leb ena that will was -- i got back from vegas. driving around town in lanlo everything was hot couldn't get in the place. it looked like it was 2015 all over again steph's pointing to, you know, how good people are theoretically feeling. what do you say to that >> i was going to say even my band is selling out, scott i want to make that clear.
you can't get a ticket for a concert at a pretty high ticket price, i got to tell you we had turn people away sunday night. people really want to get out. here is the think. you're right the data is looking back but also the issue of the -- the issues on the table in the future can be dealt with for example, a better showing by the president that he has the virus under control, getting control of the communication so people aren't confused and afraid with what's going on. mask mandate, no mask mandate, virus -- vaccine works, vaccine doesn't work those are things the president can get control over which would have an important impact on the psyche and help clear the way for spending because stephanie is right it's not backward looking, the amount of savings people have is a fact and will become a fact in the marketplace. it's whether the psyche is in the right place to spend it >> of course the market is forward looking as we know and if the market was so
concerned with a lot of the issues out there, the dow wouldn't be sitting at 35,000 as i say these words, and the s&p wouldn't 25 or 30 points or whatever away from a new high. it would be reflecting an entirely different picture, josh >> yeah, i think -- i think that's fair. there is a lot -- there is a lot been said about some of the divergences we are seeing. one of the interesting phenomena right now, no matter the sector you look at, the big winners are the largest market cap names in each sector and the big losers tend to be russell 2000 names, tend to be the smaller cap size. the other thing going on is there is a very clear preference within each sector for high quality. so as measured by let's say by r.o.e. as a way to look at it. that's a sign people still want to be invested don't forget, stocks are up six months straight. the s&p 500.
which is a pretty great trend. but there does seem to be the preference for higher and quality stocks it doesn't mean the bull market is long in the tooth, or whatever but you want to pay attention to that because it's a tell on sentiment and does line up nicely with some of the things i was talking about earlier, just about people's general confidence in the economy. we have an uptick now, 49% of americans are telling that same polona we're on the wrong track. and that's up from 42% a month ago. this is a big jump again, i'm not one of the people that thinks the delta thing is totally out of control we are seeing a peak already in the uk like, it's going to come and go. and we're also seeing something i mentioned last week, something very important, that the vaccine rates are going up in the hardest hit areas.
this is scaring people into reality. and away from their facebook moran bubbles. these are all good signs and i think ultimately we'll get control of that, recovery narrative will come back and september is going to be a really critical month, like we'll see what happens with the 9.2 million open jobs when people can get kids back to school that's going to be, i think a make or break moment for the recovery and we have a little bit of a ways to go before we get there the pawso pause makes sense to me >> michael farr is not runs for the hills. he has been doing the tv thing long enough where we knows how to tease he said if i have cash i have five stocks to buy michael farr visa, truist financial, cvs, valuement industries and fedex if i have cash, he says, i'd buy thiem today. >> yeah, i mean, i leak them
all, scott they have all pulled back off the highs. one of the things about steve's survey is if you look at the flip of what he said, instead of 32% people feel good about the market now, that means 68%, i think, math in my head, don't. and which is great if you came out -- if liesman's survey came out and said that 68% of the public thought that this was a great time to invest, i'd probably tell you to sell. you know, these -- markets don't top when everybody is negative so i think that this thing continues to have a meltup here are five names where i think you can invest today you have good solid balance sheets, there are dividends. you look at a visa as a recovery stock or a cvs, farmer jim loves it, ten times earnings growing at 10% peg ratio of 2.41% dividend.
this is a diversified portfolio. you can buy it as the market continues to advance and we continue to see good earnings numbers, these are the sort of stocks that are going to benefit >> i'm going to be clear here too >> no money on the sidelines >> you own all these these are just ideas out in the ether >> no >> you own the names, all of them, right? >> i own them all. i own them personally. my family owns them. my mother-in-law owns them don't think i'm not catching hell if we get into trouble here >> i hope you know some good hotels in the area where i know you live just in case >> 32 years of marriage, i know hotels, believe me >> all right, steve liesman, i will give the last word. he is here >> i'm still here >> give you the last word. the contrarian indicator so everybody is getting all
upset about where we are in the economy. en the stock market. and all it takes is a headline or two relative to both that gets people to change attitudes and feel better about things >> yeah, i mean, i don't think contrarianism is an auto thing you have to think that people have missed some story out there. and if they're missing a story it's the idea that i think josh brown talked about the idea that maybe the delta variant has peaked maybe there will be efforts to get it under control maybe people will become less concerned about it, both have have an investment and spending stoip and general sentiment standpoint you don't go, because it's that way i go this way. you go the other way because you feel you have other information though inform the investment decision >> i appreciate it as always, steve. talk to you soon
bank of america flow-show, right, steph we talk about this report whenever it comes out because at least it's a little slice of what may be a broader tell people buying stocks, but no conviction at all on the inflation trade. net buyers of u.s. equities for the second week in a row there is money coming into the stock market it's perhaps more discerning about where it's heading >> yeah, because we had a nice run. i think you want to buy some of the cyclical names because they're all down about 15, 20% with the reopen names. again, these two groups are bouncing hard when delta has peaked and starts to roll over and it will at some point. i don't know the time. no one knows the timing. but these are stocks now actually very attractively valued as for inflation and nobody believes in inflation, just look around just look around where you are at what paying for things in general across the board number one number two wages are going fi higher and shelter costs going
higher they are sticky parts of inflation. i have aid this all aalong i don't know what transforemeans three years? if it's three years that a long time to deal with inflation. and people won't be happy, for sure >> let me ask you this, pete, because you have fed governor waller dropping a bomb on the "closing bell" yesterday afternoon saying the fed could begin tapering as early as october. i don't think the market's ready for that i don't think many people see that you know, in my view with tapering we should go early and go fast in order to make sure we're in position to raise rates in 2022 if we have to. so maybe governor waller is thinking about if inflation gets out of control or if it's not as transitory as the fed chair thinks and some of the other members of the committee think we may have to raise rates in 2022 we better have enough tools in the box to do that and better start tapering as early as october. if that happens, what happens with stocks? >> well, it will be interesting,
scott, because that is far in front of what everybody has been expecting. and i think the markets wants to be comfortable about what it expects and when i think that would be something that would flash into the markets. if the reaction was they were getting aggressive and for whatever reason that sent a little bit of fear in the markets, then we'd look at what i would think would be a great opportunity. looking forward, it will be very, very interesting to see exactly when and how the fed rackets and what the message will be. obviously powell has been clear. transitory, everybody it seemed like everybody else was in line with that. but if we do something much sooner i would expect there would be a negative reaction if we dw get that, i think that's a great opportunity in front of us. i keep waiting, scott, like you were saying -- we have all the different indices we talk about. they are right on the cusp of being at the all-time highs again. we need a pullback, shakes it
out a little bit, giving us the opportunity that i think that we're looking for. whether ton dwir or any of the folks out there everybody has ha 5%, 10%, some pullback for the markets. we haven't gotten it if and when we get it, i think that's an opportunity. and a lot of the folks expecting that look as that a opportunity to load up again >> somebody looking at that as an opportunity in a pullback in a name like courteva. you sold that. you -- this segueing works well >> that was a good segue >> okay down 14% between then and now you see opportunity. you bought corteva again >> i did i made a lot of good money on it- the first time around. down 16% 14, 16% from the highs i think there is opportunity you
have star board in there, activist they ousted the ceo and just hired cfo from honeywell, dave berz back in the day, who is amazing. now you have a new management team a positive ag cycle and a company massively underperforming peers. a thousand basis points below peers. i think there is a lot to fix. you know me, i like the restructurings i think there is positive operating leverage potential at the company and i like the fact that it's on sale now >> i see you also bought diamond backenergy, fang, why >> down 23% from the highs, still up a lot this year, high-quality company in the e and p space. disciplined, focusing on execution. they beat ebidta last night. raised dividend, raised production, cut capex doing all the right things taking advantage here on the pullback >> michael farr, catalink.
ctlt >> it's in our mid-cap portfolio. the stock has done well. we think they are in the executing. this is in the biotech, pharmaceutical space the stock pulled back a bit. we didn't pay the current today price for it bought it a little bit over time we think the prospect to really do well in this whole health care expansion and particularly in the biotech area of this expansion are very strong and ought to be a -- i think it's going to be driving performance in the mid-cap portfolio >> lastly before a break, simon property group, josh, if you look for a gauge on where we are in the recovery, spg up 2.3% right now. up better than 100% over the last year. they say now sails return to pre-pandemic levels in june. what do you think? >> yeah, this is one of the most misunderstood stocks in the
entire market. it's back to just under 5% of the business it was doing prior t to the pandemic. the share prices were lower. in the meanwhile they were raising the dividend and returning even more capital back to investors and i think this is a company that ultimately is just an absolute cash cow given the properties they own. and it's just going to take another couple years before they can fully realize their vision but they own a malls np not strip smalls some of the best properties in america. and the suburbanization we have seen in the last 18 months is not over the home buying from the millennial generation outside of the cities is not over and simon is going to be important for years to come. so very happy with this investment so far.
i think i'm up 10 oh%. no plans of selling >> coming up value investor, bill nygren joins us he has an interesting list of new sells and buys stocks heed added. he bought more of that tell you what i'm talking about wn hewe come back. listen to us live on the go on the cnbc app we're back after this. what happens if you ever need to miss work for a long period of time? why would i miss work? i don't know. you could sprain your ankle, throw out your back... get hit by a school bus. or a regular bus. get kicked by a horse.
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welcome back i'm rahel solomon here is the update at this hour. the pentagoning was locked down as police responded to shots fired on a bus platform near the building the role fire department reported there are multiple patients, although no further details released we know, however, the lockdown has lifted. no response from new york governor andrew cuomo. he is scheduled to speak pat 1:00 p.m. eastern. after an investigation overscenes by the state's attorney general found that cuomo harassed at least 11 women current and former state employees including a state police trooper governor cuomo's administration for the fostered a toxic workplace that enabled harassment and created a hostile work environment where staffers did not feel comfortable coming forward with complaints about sexual harassment due to a climate of
fear and given the power dynamics and tonight on the news with shepard smith, a look at why new york's ag does not pursue legal charges against the governor pivrmts inchts microsoft joining a list of companies requiring proof of vaccination for people coming to work they will also need to show they are vaccinated the company delays full reopening until early october. and flameser to through the roof of a build attention at the princeton theological seminary no injuries in the two-alarm fire and investigators are working a cause. scott. rahel, appreciate it thank you. our next guest is one of morning star's ultimate stock pickers. he managing the observing mark fund mr. nygren welcome back. great to see you >> thanks for having me >> looking at the moves you're making, strikes me -- correct me if i'm wrong -- it seems that you are or have been a little
more active than normal lately and see characterized correctly or not >> well, at oak mark we typically own about 50 stocks in the portfolio and average holding period is about five years. you can expect us to have about two additions and subtractions in the portfolio each quarter. in the past quarter we only added one new name and the rest of the money we got from the securities we sold went into a bunch of the names that were already in the portfolio, frankly, we thought were cheaper than other new ideas would have been >> you added significant -- at least you added to some significant names. added missouri keurig, dr. pepper, workday, ebay and netflix. which one do you want to start with >> well, we can start with any of them. netflix was a name that obviously benefitted a lot from the pandemic and i think growth investors
pulled back a little bit as the subscribers normally joining this year were pulled forward to last year. our view of the economy is that it is and will remain the dominant streaming play. we think the company ought to be valued at a thousand dollars a subscriber, a higher number than where the stock price is now and a thousand dollars a sub is only comparable to what other cable services like hbo are valued at we don't i think think that's aggressive at all >> josh brown, you have questions related to netflix, as i understand >> i do. thanks i think netflix is one of the toughest stocks of the large cap, let's at a call it tech or growth names or whatever it's really difficult because they've been executing, right. like earnings over the last four quarters are up 5 a5 last summe. but in the same time the stock
is flat, 4%. which versus the peers is terrible and its multiple is compressing almost like in fast-forward. it started the year 80 times forward earnings growing the earnings and now about 46 times the forward pe is down about 40%. i guess the question is why is the stock treated this way why is there so much more doubt surrounding netflix than virtually any of the other large cap growth names do you think that's all a story about hbo max and disney or is there something else going on here? >> i think there is concern that near-term numbers aren't looking great. as i said earlier, subscribers have been pulled forward it's a competitive space and i don't think investors have really come to grips with the idea that the average person is probably going to subscribe to three or four streaming services and the other thing is part of that earnings growth right now was also a pull forward because
they weren't able to do any of their original production during the pandemic so you're looking at a company that for a couple of quarters isn't going to see tremendous subscriber growth, not seeing tremendous earnings growth but we think that's the wrong way to look at it. subscribers watch more netflix than they ever have. the engagement is the best it's ever been. if you look at the two-year growth stack, the growth and subscribers has been way beyond what people expected two years ago. so we think this is a very healthy company that an extreme foreclosure on near-term numbers is keeping hidden in plain sight >> i want to get to a couple of things that you sold in just a moment because i think our viewers find them interesting but let's get to your new buy. you mentioned your turnover is not that dramatic. i.c.e. intercontinental exchange.
why did you buy that stock >> this is a business we admired for a long time and a ceo we have great respect for jeff sprecher started with an electricity trading company and now par layed that to owning the new york stock exchange among other things i.c.e. is typically sold as premium to the s&p multiple. now selling at a discount. we think with the acquisition of elie mae they put themselves in the pull position for being able to digitize the closing process on residential mortgages if they succeed at that, that is going to be a very large growth opportunity for the company. >> now, stephanie link is definitely wanting into the next conversation, because you sold caterpillar. which she disagrees. i'll say it so she doesn't have to why did you sell cat >> yeah >> first let's look at why we owned it our view at oak mark was that a
lot of the large industrial companies whose businesses were becoming more and more reliant on services and spare parts were becoming much better businesses. and yet the market priced them half the market multiple over the past year cat stock has done very well and today you have to believe cat is a better than average business to continue owning it we weren't at that point and at oak mark price momentum isn't a positive thing for us. you usually see us moving the opposite direction we sell stocks that have done well and buying those performing poorly and caterpillar at current numbers to us just doesn't look that cheap >> steph, do you counter that? you're one to take profits from time to time and things that have had a nice move and don't look cheap after a certain period of time >> absolutely but the stock pulled back 14% from highs they have strong end markets,
residential construction is probably in what the fifth inning and higher commodity costs and aging fleet helps resources business the resources business hasn't even recovered just yet. you're know at the trough. but it hasn't seen a recovery yet. i think, again, higher commodity prices will accept that part of their business i think the cfo has done a great job in terms of margins. they are doing a 300wise basis points kprovt in mortgages, this is after years and years of restructuring. i think you can see double-digit earnings growth, especially with low dealer inventories as well so i still think this is an attractive story for 2021. we'll see what happens in 2022 but i think between now and the he said of the year the stock does well >> lastly bill before i let you run, you are sick and tired of mgm. i mentioned at the top of the show, stock down 15% over a month. it's down 11% over three the reopen trade questioned in
certain corners. you sold it >> we sold that one well, having gotten out in the second quarter, we weren't exposed to july i think the market got overly excited during the month of july about online gaming opportunities for the traditional bricks and mortar gaming companies and i think the disrupters in that industry like a bar stool or like a draft kings that are being very aggressive with customer acquisition costs are going to make it quite difficult for the existing -- the existing gaming companies to get the share ofthat business that the feel they're entitled to >> i always appreciate it. we always focus on a lot of stocks that everybody is buying. i'm glad with you today we could focus maybe more on some of the things that you're selling in and the reasons why. maybe give our investors thought about their own poerltss talk to you soon
>> thankou ext up, pete has unusual activity back in two minutes. our clients come to us with complicated situations that occur in their lives. for them it's the biggest milestone, the biggest accomplishment, the sale of a business, or an important event for their family. for them, it's the first and only time. we have seen this literally thousands of times, in thousands of iterations. ♪ ♪ i am vince lumia, head of field management at morgan stanley. whether that's retirement, paying for their children's college education, or their son or daughter getting married,
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and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. it's that time pete najarian, what do you have for us in unusual activity >> sure, scott i'm giving you amd as my first one. back to last wednesday when i
was last on. we talked about the fact that they were buying the july 93 strike calls with the stock trading just underneath 93 those ripped to the upside by thursday at 101 then we saw rolls. 34,000 bought of the 101s also expiring friday. both were done, stock got up to 106. i rolled with them got out. i had no position on until this morning when we had a buyer of 27,000 of the august 6th, friday, once again staying short-term and buying these for $1.50 to 2.50. stock was 108. moved to 110 it's already 113. >> new high. >> these are producing, yes which is the absolutely -- and think about that, scott. we're going back to just last wednesday, stock in the 92s. unive blooable to the upside rolling with it, the percentages of the gains are astronomical. that's why we trade the options.
but secondly i have pfizer we had buyers of the 43 strike calls last week. today we get buyers of friday's expiring 45 calls. the stock trading a little bit lower than that. those calls were anywhere only 12 cents up to 30 cents >> new high >> inexpensive options with opportunity to move to the upside and another new high. short-term in both trades >> good stuff, appreciate it ask halftime coming up next. ask questions by videoe' wll pray them on the air or email us at email@example.com that's why i started medhaul. citi launched the impact fund to invest in both women and entrepreneurs of color like me, so i can realize my vision and give everything i've got to my company, and my community. i got you. for the love of people. for the love of community. for the love of progress. citi.
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. all right. q & a time for the investment committee. josh brown, video question for you. >> hey, halftime, i wanted to find out when to get into the tdc stock. it's having a huge run up right now. thank you >> terra data. josh brown, yeah, i picked th an impending breakout it hasn't quite broken out but on technicals alone i think you can own the stock here this is a turn-around story like ten yearsin the making bullish tdc. i haven't pulled the trigger personally but i like where things are headed. >> mike in ft. myers wants to know about ibm which is the second best performing dow stock today. is it going to move on cloud adoption is the question
>> absolutely. it's all about cloud adoptions, a a.i. and block chain last week they announced a partnership with sap so kind of industry by industry they're chipping away if you will. this stock only has four buys and 14 holds or sells and trades at 13.5 times earnings with a 5% dividend yield i like it very much. i'd be buying it today. >> michael dan in pittsburgh, pepsi or coke, which one? >> dan, i go with pepsi. stephanie link will tell you go with coke. i like dan, a terrific ceo they sold the tropicana business, not an awful business but below their margins. i love that snack food business as a driver of growth. >> steph, you have the other side of that why coca-cola over pepsi >> it's lagged and 50% is on
premises we haven't seen the reopen 100% and now we're seeing closures so i like what they're doing in terms of new product innovation, i like the ceo and i like the margins. i think pepsi outperforms long term >> pete, jay wants to know about under armour what do you think about it >> when you look at those earnings, you had to have an unbelievable reaction. those numbers are unreal when you look at the revenue growth and apparel growth, that was awesome. triple digits across the board i did have calls i sold them out because those are short term if uyou want to be a long-term holder, it makes sense. >> patrick fricsk, the ceo, wil be on "the closing bell" at 3:00 p.m. don't miss it. final trades are next. the financial watch out that gives you the options and extra time needed to help you avoid an overdraft fee. it's one way we're making a difference.
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welcome back we'll get to final trades in just a moment. stephanie link, how about anaflan, price target goes to 70 from 59. you own it and have been adding to it too. >> it's been a disappointment, down 20% year to date, underperformed the software group by 40% year to date right here i think it's a good value it's trading at a three point multiple discount to its peers by the way, they have a new cfo who comes from nike. he also was at microsoft as well so he knows a little bit about how to run a company >> i'm looking at shares of
nvidia, josh brown, which are sub-200, 197 and change. price target goes to 250 what do you think about that target >> i'll take it. what more is there to say? this is the stock of the last de decade we're running out of superlatives if that goes 250, i'll still be smiling. >> pete bought some calls in nvidia too i should mention. pete, what's your final trade? >> smith & wesson. i'm seeing some call activity today. >> michael farr? >> fedex the b 2 b is coming back, it's a higher margin business 12 times earnings, a 15% grower. so a discount to its growth rate plus a dividend, i love it. >> stephanie link. >> nxpi. they beat, they raised
earnings grew 43%. total revenue guide of 10% versus 7% and the stock opened down so silly season continues. i'd be a buyer. >> last but not least, the reform broker, josh brown, with the final trade. >> bristol myers breakout in progress coming out of the five-year consolidation period the bigger the base, the bigger the space. i like it here. >> good stuff. thanks, everybody. "the exchange" is now. thanks, scott. hi, everybody. i'm eamon javers at cnbc headquarters filling in for kelly evans today. here's what's ahead. another trillion dollars being pumped into the economy, this time in that bipartisan infrastructure bill. what's all this spending doing to the national debt we'll ask the head of the national economic council. he'lljoin us live from the white house north lawn in just a couple of minutes. china-backed hackers
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