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tv   Fast Money Halftime Report  CNBC  August 18, 2021 12:00pm-1:01pm EDT

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founded unicorn in the space with a valuation of over $1 billion. i spoke to maven founder, kate rider, who led that latest round. you can check out the entire conversation on our show, linkedin and twitter pages it was a great conversation. a great milestone in the space. >> very cool very cool. cisco and nvidia tonight let's get to "the half." >> thanks so much. welcome to "the halftime report." i'm scott wapner the only question that matters to your money, are we about to have the biggest correction and which stocks might be most vulnerable joining me, stephanie link, krnks's jim cramer, the host of "mad money" and he's at the desk with me today and i'm so happy about that let's take a look at stocks. we're down across the board, except the russell, but it's been down lately and a lot the dow is holding on to 35,000,
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a loss of 40 points. the s&p is a fractional loser by six. nasdaq, let's just call that flat jim, i do think this is, the big question, are we on the cusp of a substantial correction or not? yesterday we had jonathan krinsky on he tracks the technicals i want your reaction on the other side >> we're seeing a weak ends of the market remaining weak and getting weakinger. we're talking kweb, china tech, the arc funds, the spacs there is a market that typically have seen rotations throughout the year that the last few weeks and last couple of months they're not responding to the upside like they have in the past >> is that an issue, small caps he points out have been weak the semis? we'll go through some of the
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data what do you think. >> nvidia now the most important semi, by the way taiwan semi, largest asian company. there's this guy, he works for alumina and pfizer not really an analyst. >> dr. gottlieb. >> he's talking about a peak in delta and he's not talking about dal. i want to know you want to be short a big short ahead of a peak? how right as opposed to the cdc and fda has dr. scott gottlieb been you are going to wish you were on the wing of a tell that in the twilight zone by a spidey fingernail i want to buy the dip because i bet on gottlieb who, by the way, is on the boards of pfizer and alumina, because you have to say that, apparently. >> he does and for good reason. you like tom lee, then we still want to, quote/unquote, lean in on this weakness even
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harder after tuesday's selloff, ubs says we believe in weak sides. >> i'm not sure of energy because there are secondary issues one is opec plus, not so good. i think people have to be thinking about venezuela if they come back on oil, you do not want to own oil. maybe the piece is being referred to as buy everything in the world except the kitchen sink. >> there is the mr. everything rally. >> does he really want that? i have mr. wonderful now i have mr. everything? i've got too many misters. >> steph, what do you think about this notion of being on the cusp of a correction krinsky says, don't buy the dip. it was a powerful note out yesterday and the market seemed to go weaker and then you have tom lee and the ubss of the world and others, jim, who's defending this market?
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>> and i'm defending the market as well, and i have been for a while. i point to the liquidity and how much there still is in the system i know it's not as much as it was but it's a lot and we're getting more likely in terms of the infrastructure bill i don't know the size of that, but we're getting more the fed is not going to do anything other than talk about tapering then maybe they taper but they're not going to be increasing rates rates probably stay around 1.5%, 2% that's positive for corporations that's positive for the consumer we've got to get through delta and we will. i have no idea the timing of that, but we will. yes, dr. scott gottlieb is the person i pay attention, but i also say the uk trend -- >> some say it could peak this weekend. >> my portfolio is all about delta weak peaking, quite frankly. i don't know the timing of that, though i can just speak to the stocks getting hammered in terms it of the reopenings that's wri find the most value, quite frankly, in the market
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but we have to get through delta first. then we have to get through seasonality because august and september, really crummy months for the market we've got to make a shopping list and, as i say, the reopenings are the ones i like. why do i want to stay involved not only is it liquidity but the economy is actually fine it's strong. both consumer and manufacturing. and earnings are strong. they're not going to be as strong but it's -- it's going to stay elevated and above trend. >> we're going to discuss that in a minute because some of the data makes you think as though the consumer is about to go off a clip they're hanging on for dear life then we'll get to that in a second kari, what's the most important thing you're watching today? >> i think the fact that the market is flat today is pretty good news because yesterday people might have been listening to jonathan. they were selling stocks and the market started to come down pretty hard. you saw a lot of the high beta stocks really take a hit
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and that began to sort of feed on itself and people were saying, whoa, you know, this is bad, gdp growth is not going to be as strong as expected consumer spending wasn't as great in july. so, i think today's action is a little better than i had expected so i'm comfortable with that if you look at what's going on under the surface, we know the market has been grinding higher, then you put together a table, this is over the last six months, it took them three-month segments, first three months, february to may, you had much stronger numbers from caterpillar and jpmorgan that was financials, cyclicals, value stocks and apple and microsoft, and then you had may to august, much stronger apple, microsoft. if you look at the six months in particular the last couple of months, who's been beating the s&p of that group. only microsoft but the top of the s&p, the top 25 stocks in the s&p for the
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last three months, there's only five of them that have market caps over 200 million. the majority are 50 million or less that says people are being discerning they're looking for what companies really have growth now, guidance, over the next year or two. that's good. that's good for the market you spreaded it around, i think, even though, you know, you might not have the action from amazon that you like, but having more participants and discerning type of environment, to me, speaks to some underlying strength in gdp and the economy, as stephanie and jim were saying. >> joe, who do you agree with in terms of everything you heard and krinsky in context, too? >> well, there's a lot to unpack there. as it relates to jonathan krinsky, a correction of 10% takes you down to the 200-day moving average i don't think that's where we're going. buyback is going to be strong.
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this is an historic year as it relates to buyback what's not been priced in is maybe the tax policy that will be presented to congress at some point won't be as onerous as people have priced it in to be year to date i agree with jim on energy commodities are not something i want to touch. i spoke about the rest of the world having this uneven recovery relative to the united states i agree with kari and stephanie where i believe the delta variant peak is coming you are seeing a lift in treasury yields. i think the right place to be is i've been communicating to you is going to be financials, removing a lot of that global risk you're seeing some banks recovering that's a place i want to be. and i think the troubles that exist right now as it relates to the chinese regulatory actions, i think that's going to continue to make mega cap technology a port of flow you'll see a lot of capital flows in a safe haven capacity going towards those names. >> i'm glad you end there because that's kind of where i
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wanted to go next. jim, i'm wondering if, dare i say, is apple the key to the market right now the reason i say that is because how can you have a larger correction if faang plus, if apple and those big mega cap technology stocks keep going up, or at the very least, don't go down >> i think that, as kari mentioned, microsoft we all like microsoft. that's at its high the piece that frankly concerned me about app store, but otherwise not. we know -- let's address krinsky head on on the semis the semis that are weaker are apple-like semis i understand the cross-current. >> like what skyworks >> sky works i come back and say, let's just understand, these companies are the stalwarts. yes, i wish amazon was going up but amazon is viewed as not a
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good opening trade you have good leadership and i think that chart you put up that shows caterpillar as the one that's been falling and the winners, that's it i think that is the market let me throw in a wrinkle. i know stephanie will have something to say about this. we have seen a rerating of the dwrug stocks a lot of people thought that was slowdown i'm beginning to feel it's democrats not having any strength to rein in price increases. we're seeing the drug stocks break out and it is not, stephanie, pricing in a slowdown it's a group that's lagged the stock market for a long time. >> steph >> definitely lagged for a long, long time. i also think the pharmaceutical companies -- rates are so low. some of these drug companies, three, four, 5%. those dividends, most of them
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are very safe because there's so much free cash flow with these companies. i totally agree with you in fact, i recently added to j&j. i know it's at its highs but it's at 18 times forward estimate and i get a 2.3% dividend yield houchgts has he beaten and raised in the last year alone? i think that's going to continue. >> don't mean to interrupt but when you have a vaccine that's been pulled out of a major drugstore and the stock keeps going higher, what does it say about that one if it pulled out of another one -- >> health care's been great. look, there are a number of positive calls on the faangs you were talking about amazon. alphabet gets raised, facebook gets price target raised from 395. do you subscribe to that notion that you can't possibly have pullback of magnitude if big tech doesn't pull back in magnitude? what's going to drive the market
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lower? >> kari and i have been in the business a long time she was at fidelity. you had mutual funds selling and locking in soon. if i am at the big dog, so to speak, would i be thinking of locking in gains because of the calendar >> well, locking in gains, you're talking specifically about amazon or -- that kind of big name or what could be going on under the surface >> target up 44% 44%. >> oh, yeah. well, sure - >> brian cornel could have said, you know what, personally, there's a line into our stores and i'm okay walmart up 4% and target up 44%. i say, i have to lock in target. you know, nothing can beat that at this point. >> kari, we had people on the show yesterday, whether it was weise or pete the last couple of days, not looking to lock in gains on a target. looking to up more because they think that stock has a lot of
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momentum. >> but i think what jim is saying, you know, it's the middle of august and as steph said, you have a tough september often. so, if you're going on vacation for a couple of weeks until labor day, seriously, why not sell target. you have this monster stock and -- >> no one's doing that no one's doing that. by the way, when jim sat down, the first thing you said is, doesn't feel like august. >> it doesn't. >> there's too much going on to be august. >> i went to march that's vineyard 25 years ago and i took everything off the table everyone since then felt i was a generous no, i didn't have a phone. >> this idea -- you said something -- >> you had a fax machine >> that's exactly right. i had the fax machine. i was in some sort of able's and i was come back and i would say, did we miss anything she would say, who knows >> who cares you said something earlier i
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thought was interesting in a conversation with carl this week you got the bad retail number and it followed the sentiment number, which was really ugly. people started to assume, okay, this may be the beginning of a down turn because the consumer is obviously buckling up because the delta variant. you get these retail numbers you said, i'm not willing to say that i'm not willing to suggest that everything has changed. >> no. i have home builders that have come in the last 24 hours -- actually the last five hours saying, ignore that number i've got retailers, whether it be walmart or lowe's, hey, moss matter, saying, listen, things are really great i come back and say, where is it already reflected and where is it not if you want to do stock selection. >> okay. that's what i'm thinking things were great, the quarters were great are they still going to be great because of delta >> but, marvin said august is running well. >> you have marvin ellison on tonight. you'll get into that with him as well i know
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>> stock up 20 small caps is up 20. joe, i wanted to ask you about the energy trade i mean, to me, you and i are on the same page on this. so, where is the inflation we're all thinking about right now could that be peaking along with delta? >> the inflation is in the supply chain and transportation cost i think you heard that with home depot. the inflation is not represented in commodities the problem for a lot of these commodity names, jim, they're all debt-laden if i were some of these companies, i would be doing secondaries to pay down the debt they do it with the do-it-yourself stock they should do it there. >> cleveland cliffs are pretty smart guys >> that's a huge jim leeben that will farmer jim loves that stock. >> i first heard it on his show. i must have been 12. >> he's loved it for a long time bought more. speaking of buying more, what do you do with some of these retail
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names today? the best in show today is who? target or lowe's >> lowe's, could tap out a stephanie link favorite. how about tjx. >> is that where you're going. >> it's got a great chart. i did go there yesterday but it was really for belt and socks. >> it doesn't matter what you went for you spent money. >> there's a big line to get in there. i'm not kidding. i do want to say that i keep coming back to walmart come on, this is -- we're looking at home depot. $40 billion, nothing to sneer at walmart, which was up earlier, is in a straight line and relative to the others i would love to hear what the group thinks. >> joe, you can take walmart walmart has been an underperformer that's why everybody loves target if you put the charts next to each other, one looks like best in show and the or looks like, i don't know what. >> walmart more recently is
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seeing a little strength in the performance. we're in target. we're in lowe's. i thought the expense management, it was such a critical save from marvi ellison and the team where operating margins were really good i think specs management is going to be important. two other names i'll put in the conversation i like steph's tjx the industry owns burlington and ross stores. both of those names, i think, have a lot of upside potential as you move towards the end of the year >> here's an interesting thing >> joe takes your question and then my question and he immediately pivots to tjx. i feel like that's a statement in and of itself you try to get people excited about walmart, they deflect and start talking about something else they like even better. >> maybe that's because they want to my walmart in quakerstown and was -- i call it
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quakerstown because my wife calls it that. it's really quakertown i'm looking for something up four, not 44 i think the problem, judge, is that stocks are up for a reason. listening to doug mcmillan who says, we have an online and look out. it wouldn't surprise me if that guy didn't just make every drug $4 if you want to go into -- instead of walmart plus, you go in and you use the brick and mortar part and then you have stuff delivered at home. i think walmart is really undervalued here that i'm passionate. >> so, steph, why not almart why tjx so passionately and not as passionate as jim is about a name like walmart for such a tried and true value investor and he says this thing is way too cheap. >> i don't think 25 times forward earning is cheap, number one. number two, walmart --
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>> i'm sorry >> walmart - >> burlington, have you been to a burlington have you honestly been there it's a frightening place i mean, burlington, i went to the one near coney island. my wife says, what are you doing here it's like a hand-me-down it's like goodwill i like goodwill. >> back to walmart - >> sorry for interrupting. jim's face was like, oh. >> well, no. >> jim, we agree on so many other things we can disagree on walmart if you want to be this is what i'm telling you 25 times is not cheap, number one. number two, it's a consumer staple stock it's actually considered a staple and i think it's getting caught up in that, to be honest with you. staples hasn't done anything in a very long time >> i disagree. it's a grocer. kroger, look at those two. the grocery business is on fire.
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>> well, walmart is -- they're such a behemoth on so many other things >> i can't comment on walmart. >> if it were to pull back and i could get comfortable with earnings, why i like tj is, a, it has totally disappointed in the last year. it's flat year to date that is because even though sales have been better than expected, margins have been under enormous pressure because of covid now if you want you think -- if dr. gottlieb thinks delta is peaking this weekend, well, this is a reopening people want the treasure hunt in the marmaxs the home goods, the open store only, up 36% comp. my point is, you know, i say this a lot, operating leverage when you have margins starting
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to improve and can recover, that to me is an inflection point that's what's happening with tj. by the way, i don't be just think it's tj. i think it's ross and burlington as well. i think off-price retailers are taking massive amounts of share. this company, it opened down today, which was silly i think you want to be buying tj all day long because i think the earnings are at a trough it looks expensive as margins improve, margins go higher and it's not nearly as expensive. especially for a reopening. >> kari, you have something on walmart, i'm told? >> yeah. i think as jim knows, everyone as fidelity is a fundamental analyst but a technician wannabe. if you look at that walmart chart going back to last december, it looks like a u-shape that can break out it has a very good looking chart. they can both go up. we don't own walmart but tjx, it looks good and walmart doesn't.
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>> why don't you just own it you just made the case for a breakout why don't you buy it call me crazy. sounds to me - >> that's a possibility. that's a possibility but we don't own it right now. >> maybe not explicitly telling other people it looks good, you're doing to guy it. >> i think it's more of a cup and handle >> exactly >> oh, god. >> we have to do more work. >> jim liebentha writes in >> especially the john lee sure of cyclicals. >> props to the farmer for being in there kari, i'm coming back to you i'm glad jim is on the show to have this conversation you sold alibaba
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better late than never, i guess. >> really. >> as i've heard people say on this show, i couldn't take it anymore. you're under this pressure with a stock you think is very attractive with this huge market and a lot of growth and the chinese government is insdeefrable they don't like jack ma, they don't like the business alibaba is in. there's a lot of pressure politically. you don't know whether it's going to get delisted, you don't know what's happening with the ant financial ipo. we can't as researchers make any coherent predictions about what's going to happen and just for us, you know, it made sense to sell it and use that spot for someone else. >> sometimes you have to take a loss and move on it's a tough pill to swallow to actually sell when the stock is getting hammered
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you've suggested it's irresponsible. i think that's the word you used >> if it was a brokerage house, he would be going, cutting numbers. alibaba, they discovered the wonders of communism they like to spread the wealth they take it from the rich and give it to the poor. it's kind of a fiction there it's fact. >> i'm looking forward to that report. >> are you >> yeah. why not. it's the fest one. >> i'm looking forward to opening day. i'm looking forward to many things. >> kari, you sold am well, american well corp, otherwise known as. >> it was a small position, small cap company, $2 billion. we bought it, virtual, telemedicine we were disappointed with what they said on the quarter we bought it after they came way down it was a size 47 it went into the teens
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we bought it it's not -- as we said, small position, was not meeting our expectations maybe it will over time. perhaps it shouldn't have gone public when it did it just makes more sense for us to step away maybe we'll buy it some time in the future it just was a good portfolio decision. >> the stock is only off 70% off the yearly high. maybe that's the understatement of the year. >> we didn't buy into it anything close to that. >> but still -- >> we bought it close to this price. >> okay. but you get my point >> we thought he wrp getting a great price. >> it's beating context logic. you don't even focus on that. >> we'll get to that later >> disney and netflix shares were down but both were picked as top picks you can watch or listen to us on the go on the cnbc app we're back on the half in two.
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welcome back to "the halftime report. here's our cnbc news update.
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afghanistan will not be a democracy under the taliban, a senior member of the group telling reuters that the country will be governed by a ruling council. another senior taliban leader says the role of women in the country will be decided by a council of islamic scholars. evacuations are more important than with drawing u.s. troops from afghanistan. before an august 31st deadline, according to chairman of the house foreign relations committee. he says u.s. forces should stay in afghanistan past that date if needed to get americans and afghan allies out of the country. on the news, the latest from kabul and the pentagon's response as more troops head to afghanistan. tune in tonight at 7:00 p.m. eastern. meantime in california, the caldor fire has doubled in size, burning more than 53,000 acres west of sacramento at least 50 homes have been burned and two people have been sent to the hospital with serious injuries ain georgia, the state's election board has moved a step closer to taking over elections in the most populous county.
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they have been targeting fulton county before the break, jim mentioned roblox getting a nice lift today after being up. joe owns it. i want joe's opinion i want you on it first. >> a great conversation. it's very clear that july's very good people are wondering, once people go back to school, they do their homework and then kids go on roblox only if you have kids, do you know it. we're talking metaverse. don't laugh about metaverse. unity likes it when i talk to roblox, they're talking about virtual concerts like the black mirror, season three, but i am talking about the idea of getting together with beethoven and brahms, bach, yes, i'm talking about having guests over and programming
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them, holograms that i talk to maybe i just listen. that's what the metaverse is let's start realizing, you can be part of a whole new universe that is better than this one where they don't even talk covid. >> bottom line, there's upside in this stock? >> yes >> joe >> well, that's how you're going to grow the active user base, beyond just kids under 12. you'll grow it by the utilization of the metaverse you'll see the international expansion. you'll have individuals like ourselves who are going to be engaged with it. i agree with jim the recovery off earnings was also something i thought was very compelling and given where it is here, i think this is a stock, as i've said all along, that could go north of 100 >> what hear you guys saying, jim, is that the pandemic, post-pandemic, doesn't matter. whether kids go back to school or not, and they are, their
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participation in this stuff tied to the pandemic doesn't necessarily matter because of all the things that you suggested are good for the stock? >> it's a direct listing it doesn't have the coverage it shut there's good cash flow, very good management and i think they are part of a new world that if you don't have kids, you think, what the heck is that? if you do, you say i hope they're on roblox and not watching tv. >> joe, quick? >> i don't think it's just a pandemic stock i think it's unfair to call it a pandemic stock >> right that was the conversation going into the print what happens when kids go back to school and they're not sitting in front of their computers playing video games or in the metaverse or whatever what's the impact on the stock you and cramer lay out a thesis in which that's not the most relevant thing that's what i'm trying to get down >> true. >> let's talk about disney and netflix, by the way. top picks for the second half of
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the year at morgan stanley we spend a lot of time on disney these days we don't spend that much time on netflix, which you own, which you call a, quote/unquote to our producers, a crappy stock for 2021 that's what kari says. >> i don't -- did i say that >> what? >> we have excellent producers the producers don't lie. >> oh, my god. i apologize. >> it's been a crappy stock in 2021 >> that's right. it has been. it's down 3% the market is up 18% i called that worse names, in fact that doesn't mean we don't think it's attractive now. and netflix still has enormous base now they're starting to have more content last year they couldn't produce content. they year they are now we're going to see after we've cycled over those bishgs huge gains during covid, we're going to see they will continue
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to grow once those comps get easier and i am sure they have pricing power. talk about inflation and netflix is going to be able to raise the price. nobody is going to balk when they raise the price $1 some time in the next month we think there's a huge run. the multiple has come down because the stock is so bad. again, it's possible that, you know, we could start to see big outperformance of netflix over the next year. that's why we own it >> it is water cooler talk again. after a pronounced period where even reed hastings had nothing good about the productions people come and say, have you seen this? have you seen that it's on netflix. disney is back to where it was before that quarter. disney has disney plus if we don't reopen let's say covid peaks at 11:47 on saturday night, okay? do you want to be short dis? i? the great es story ever told you're getting it at 175
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with that great quarter, no one cares? no one cares -- what sna about, judge? >> steph doesn't care. she sold it a long time ago. she's out. >> steph, why do you hurt me >> i actually think this vie acome/comcast deal is quite interesting. it's a very competitive space. that's the area i would be playing. i have owned both comcast and viacom in the past i have owned disney. it all depends on the valuations yeah, it is sort of surprising that the stock is down 3% year to date. i wish it was down even more because i would certainly entertain getting back into it because exactly what you said. you have a reopen piece, which is theme parks that did quite well in the quarter, in the most recent quarter. and the stay at home with disney plus and then hot star and going into malaysia and thailand and latin america. you're going to see the numbers at disney plus and hot star accelerate meaningfully, even if a competitive space. it's a price thing for me and
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i'll keep watching the space in general. >> you may watch it go even higher that's what jim said. >> i might well, i -- i have plenty of reopen names, judge. >> joining us next, professional golfer collin morikawa, an olympian, u.s. tour champ and won the top ten, which means he has a lot more money than he did a couple weeks ago don't miss the first on cnbc interview in just two minutes.
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the number three golfer in the world collin morikawa is $2 million earlier fresh off his win in the open and recently returning from the tokyo olympics he joins me now. it's good to see you welcome. >> thanks for having me. >> i gave you an extra major i said you won the u.s. open, it's the majors. >> it's good i've been pulled on a bunch of pranks on the european tour.
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i didn't think you were the type, but you never know. >> you can't trust us for sure you've been described -- your first on tour in tee to green, first on tour in birdie average, and rated by "sports illustrated" as one of the top five people to watch in the playoffs you want to talk about a rise, what's that been like? >> it's been a lot of fun. it's crazy to think about two years, three months ago i was still in college, graduating from berkeley and now top three in the world and giving myself a chance to, you know, win the fedexcup playoffs it's amazing. >> what do you do with all these earnings and this new-found wealth that, frankly, you have you have a lot of sponsors i went down the list taylermade, adidas, u.s. bank, thera body, et cetera, et cetera, and i'm assuming a lot of people are bang your door down. >> you missed one.
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i have zurich and grant thornton great partnerships, great sponsorships number one, spend a lot of money on food and everything else, throw it in the bank, throw it in investments being smart with it. i'm still very young i'm 24 but, you know, i've got a lot of things in my life i'm very happy with for the most part, it's just -- i don't mind taking in a couple extra million, like you said it's great to finish that kind of regular season first. >> i got the great jim cramer with me, too, here with me, so if you have any investment-related questions, you can throw anything to him. he can handle anything on the fly. what do you expect in the upcoming playoffs? do you really feel like you're one to beat? >> yeah, i think so. i've shown it throughout the regular season obviously finishing first in the comcast business tour top ten shows a lot of consistency, but this is a three-week stretch of a lot of golf. and i'm kind of looking at the playoffs as a whole, not necessarily three separate
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events i want to peak in the final event because that's where it's all going to come down to. you don't -- yeah, you can win the northern trust this week and win the bmw championship next, but to get that final prize and finish out on top and finish first, you've got to play well that third week he so, just prepping for those three weeks to come. >> there's been a lot of conversation thinking if tiger is going to be back, if so, when, what the state of the game is going into the future and then you have new faces like you, getting major wins. phil is still hanging around, doing his thing. how does the state of the game feel to you? >> it's great. i think the game is growing. obviously, covid was very unfortunate. to see it still around the world and getting worse, it's tough but it's definitely brought out the game of golf it's opened its arms to a lot of people i think that's what golf needs it needs more opportunities. it needs to be a little more
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just including -- inclusion about bringing people into enjoy the game for what it is. and i was very thankful for my upbringing and how i was able to get into the sport and hopefully a lot more people have that opportunity as well because it's amazing sport to play. >> described as one of the best shot-makers on tour, they say. we'll be following you thank you for coming on. best of luck. >> that's colli collin more ka. you know how cramer feels about nvidia and jensen wong can he deliver one more time
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i'm looking at my computer sxre screen and i'm looking at nvda better known as nvidia currently at $194.12, up almost 40% in three months. i know you love the company. i know you love the ceo. he's on your mt. rushmore. i know it. >> actually, he's in the louve it's da vinci. >> this stock has two consti constituencies
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one loves it for what it does and two and who it is. the only throws the cards away if he says anything about where this deal is, and he backs away at all, which i hope he doesn't, that this deal is going to be done, then i think that's what the stock is going to trade on i think a lot of people wish he would walk away and just do a jv a lot of other people who want the deal closed. i think one of these groups could sell, is what -- quarter. the other thing you've got to realize is that when you look at the metaverse, it's all based on nvidia chips that's because it's not like us. we can't envision things that he can. >> we're mere mortals. >> and he is not a mortal. he wears this motorcycle jacket. his daughter's a great cook. he's got a wine bar. he's actually a cool guy it's mount olympus out there
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this guy is the real deal. he's zeus. he's mercury she's shazam >> when the stock is up 50% -- i know, but people sort of search for all these reasons as to why you shouldn't take anything off the table or it has so much more to go. and for a large number of people, that narrative are centered around crypto >> and that's so wrong >> you said this morning that's wrong. >> remember, remember, gaming comes first. if the chip isn't up to snuff for gaming, then it goes in the scrap pile i'm telling you sell it now. sell it now because you don't belong in the stock. you don't have the right to be in nvidia. you just don't i'm telling you right now, if you're in pretheorem, shame on you. >> you're out. >> yes >> joe t it's in, joe t >> it absolutely is. this is a quality company.
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i agree with jim the concern i have is gaming it's a little wobbly right now, isn't it >> yes, yes, yes, you're right >> so, that's the current concern i have and what kind of guidance can i just if he doesn't give an update >> remember they're back ordered to all these different game companies and some of these things like twitch seem to be an addictive quality. look, it's been heard -- it was hurt by an inventory glut e theer yum. jensen is going to come up with more things so we'll look back and say that stock wasn't that expensive. a few years ago it was 18 times earnings >> stephanie said it will be incredibly strong. they're going to kill me, but i'm going to ask you anyway. cisco, after the bell also >> who's going to kill you >> the producers are probably like -- >> this is what you do, okay
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we're talk about cisco, chuck robins pull it out. >> give me one quick >> so, enterprise spending if this was an enterprise spend recovery story, this is a margin improvement story as the supply chains clear out a little bit. low expectations, 17 times, 2.7% yield. it's one of my largest technology positions >> all right we'lta tl kehat break. we'll come back. we'll do final trades next ♪ music playing. ♪ there's an america we build ♪ ♪ and one we explore one that's been paved
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estrella. this has been too much fun you're going to have more tonight at 6:00. who else are you going to have >> we mentioned cummins.
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>> i'm sure you're going to be thinking about robinhood amc, they're going to love robinhood. >> what do you seriously think about the stock from here? >> i think it's a sign up stock. it's a netflix stock if you sign up -- they go from 22 to 25 million, i want to own the stock. >> okay. well, i will watch that later on today. final trade. what do you have >> ford motors down from 16 to 12.5 i think ford is doing incredibly well >> you love farley >> i love farley because farley loves profits and he loves race cars and he loves to win he's not a loser it's ford versus ferrari with that guy >> i'm no expert, but profits, they're good >> yeah. he's the prophet of profit >> thanks for being here steph, final trade >> yes gxo logistics.
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it's one of the largest logistics and supply chain services company worldwide its play on ecommerce, outsourcing automation >> had them one, steph >> i know. it's 430 billion address on the market a year. it's a good one. >> carrie, just give me a name and joe a name >> salesforce. >> joe >> berkshire >> say it again. >> berkshire hathaway. >> good stuff. thank you again. "the exchange" is next >> loved being here. thank you, scott hi everybody here's what's ahead this hour on "the exchange. economic data are coming in weak again as housing starts now disappoint but one fund manager who's up 33% this year is continuing to bet on both housing and the consumer plus robinhood releases it's first public results after the bell can it leave up to the meme stock hype and kath


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