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tv   Fast Money Halftime Report  CNBC  October 7, 2021 12:00pm-1:00pm EDT

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moving average i don't know if we've built the new cover of "time," but it is mark zuckerberg and a graphic of whether or not to delete facebook the title is how facebook forced a reckoning by shutting down the team that put people ahead of profits. so clearly, the facebook story not over yet that does it for "tech check" today. let's get to the half. carlos, , thank you so much. welcome to the halftime report the recovery can last a year or longer does the investment community agree? joining me, is josh brown, jon najarian co-founder of market i'll take you to the wall. the dow seeing its best week since june and the debt deal with the key risk. that's the story you have three big risks as we saw it and the debt ceiling debate and earnings which are coming right at us and you
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remove the debt ceiling issue at least in the near-term and stocks certainly seem to love that news. >> yeah. so, look, the good news about risks is once we get past one they'll always make a new one so look forward to whatever comes after this i think the bigger picture story is that q3 earnings are going to be very peculiar we have never seen a q3 earnings for the s&p 500 negative versus q2 in the context of an economic expansion. now, obviously, for a variety of reasons, there's a the layoff funky stuff going on in the data because all of this stuff is comps and we're experiencing a once in a lifetime economic re-opening and maybe we'll take that with a grain of salt, but i would not expect an incredible q3 earnings and maybe the most charitable thing i can say is estimates have gone low enough or have been tamped down enough by all of these headwinds that i talk about every day so that
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companies can leap over them easily so maybe that's the silver lining, but it's going to be a weird quarter and there's going to be a lot of commentary obviously about the difficulty in employing people, costs rising and look at energy prices and cotton prices are absurd and it's a funky environment and a lot of these hikes in prices for raw materials and labor. a lot of them will stick some of them won't there's just going to be a lot of noise surrounding that part of the story coupled with the idea that, look, we'll have less liquidity coming into the system each month than we have enjoyed for the last 15 or 16 months and we all know that we don't know the exact tieming of the removal coming in and that is inevitable and we'll have to see we are able to withstand the tightening of the spigot and what isn't. so i think a smart thing that
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people can do right now, judge is focus on quality. i know that's cliche and everybody thinks they're buying quality and not everybody, in reality is allocating to quality because if we do get a little bit of a hiccup market wide from that retreat of liquidity, i have to believe maybe the quality stuff doesn't stand up as well, but i think it bounces back the fastest so i'm seeing -- i'm sorry let me just finish this, this is important. >> please. >> i'm seeing the beaten up names bouncing hard today. i'm seeing peloton up 6.5%, i'm seeing a lot of that happening and the ipo index up almost 3% i don't know that those moves are permanent. i think just on the way down in a downtrend sometimes you run out of sellers periodically. like, that's not the bounce that i would be attracted to. i'm much more interested in the quality stuff right now and stuff like gm that i feel is
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quality and cheap. the xlf which gapped open and everything there is working and those are quality names. so that's the way that i'm thinking. >> so, jenny, i want to know how you're thinking about it and josh brings up some important risks that still remain and they're undeniable what i wonder is whether the improving covid news and that situation trumps everything else and that you get a more open economy and truly the other side of the pandemic and whether that is just more important than everything else. it seems to be where marco kalonovic of j.p. morgan is going who all, but dismisses higher inflation certainly as it relates to oil and certainly as it relates to interest rates because he says the market can withstand 2.5% ten-year and the cyclical recovery driven by the covid situation improving and i know you're shaking your head, doc, and i'll get to you, too,
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on the other side of jenny he says, and i quote, we believe the recent pullback is an opportunity to buy the dip in cyclical assets which would include all equities, emerging market apart from high-multiple growth sectors echl g., the nasdaq 100 so this was an important note when it dropped yesterday. what do you think about what he says jenny? >> there's, like, 95 questions in that and i'm trying to figure how and which one to answer. >> there's only one, do you agree with him or not? >> yes, but you said does covid trump all? i guess the reality is does covid trump all? i think it already has, right? we've moved away from worrying about covid in cases with respect to economic growth so to me, when i read this note from kalonovic, i saw it not an extension of what he's been saying he's been positive on energy for a while and all of this has to
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do with the return of normal to supply demand and energy inflation, our daily lives and everything, but that's not new that's what's been going on. one of the things that i thought was unique >> the bottom line is yeah, i totally agree with him, and he's promoting how we invest and yeah, obviously, i agree one of the things that i thought was interesting is how i would buy the dip, ex multiple tech and high p-e stocks, and i thought that was a uniaekque an important thing to think about as we buy the dips i manage a high-dividend strategy, and importantly when interest rate goes up and there's a potential of inflation ahead, my high yields don't perform as well and that's not what's happening now and what's happening now and this gets to josh's point, but i don't think that's sustainable i think what we're seeing people warn against is be careful about the high-multiple stocks going
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forward. those are risky and this is interesting because as we return to normal and as there's less liquidity in the system and there are less free dollars. i think that fewer free dollars floating around will decrease risk appetite and that's yet high multiple stocks may not have the returns and may not be able to sustain the multiples going forward. >> >> i want to make sure i go forward. you are sure on the calls for cyclicals and energy, but do you agree with his note that the markets would be fine if oil got to 130 and the ten-year got to two and a half that's the crux of the argument. if we're worried about inflation and we're worried about where rates are going, he essentially says don't worry about it. the market can deal with that and be just fine do you agree with that, too? >> okay. so here's my little bit of a cop-out which is all about how we get there and the pace. so if we get to 2.5% and it's in
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a super healthy way and people expect that and we go to 1.6 and 1.7 and earn's expecting it and it's growing and because we have a healthy economy with healthy supply-demand dynamics in balance, then yeah, i totally agree with him that we can handle it. look, we can handle and digest anything we handled and digested the pandemic last year yeah, we can and in over a hundred years the market keeps marching up. >> we handled it did we handled it? we handled the pan demdemic. >> is the fed going to come to the rescue of $130 oil and rates? >> it depends on how we get there and why. >> jon najarian. >> by the way, i don't think 130 is permanent >> jon najarian, you made your point of view clear yesterday and i don't want to say it's a given that everybody is with us who was with us yesterday is with us today.
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hopefully there are new people, too. you disagree >> yeah. dramatically so, judge, and it's not as much about the ten year we all know that rates are still historically low and as we push back to 2% which we will get to eventually and perhaps even 2% that marko was talking about in the not too distant future i think the market can pol rate that a lot more than the $130 per barrel crude, and here's one of the reasons and jenny was spot-on about this as you are, scott, and that is that the velocity matters, obviously, and also we will bring on historic amounts of production unless we have a pushback from the government and we will bring on historic amounts of production as we push to a hundred let alone 130, but i was talking to our trend mark fisher this morning and if we have an early winter here and natural gas
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prices here start moving to the upside, it's going to be bad because you're not just pulling on one string, scott all of these are connected take a look at the chart for coal i sent it over to you guys and not sure if you can pull it up or not, but coal is up 350% this year i talked yesterday about india only having a four-day supply of coal, and india and china and elsewhere in the world if they can't get coal so when you have natural gas prices moving up, when you have crude oil prices moving up, you will see everything else in the energy complex which includes solar, wind, geo thermal and all of that will be moving up because they can because demand for those will be increasing, as well so in particular, though, scott, when you have $130 per gallon or per barrel, rather, oil on the table you're looking at all of
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the things that are impacted by that, not just what i spoke of consumer demand, of course anything made out of petrochemical, you know, from the chemical side to the clothing side, the polar fleece that many of us wear, that's petrochemical. all of these things go up dramatically in price, and i think that's, scott, what fur further crimps growth in what will be a challenged economy without the fed with as much oomph pushing on it and that's something that will cause somewhere between 15% and 20% correction in the market like that if we see $130 crude that will not be well tolerated. i respect your work, marko, but i have the opposite view of what the result will be. >> okay. hopefully we will hear from him, i hope, one of these days soon to discuss this in further detail by the way, to your point, doc,
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he does discuss coal as a possible canary in the coal mine, too. >> yeah. >> he's with you on that >> that chart is scary that is a scary chart, scott >> he's with you i think he thinks bigger picture, once you get past covid and the power of the move in cyclicals will be enough to take the market higher. sarat, where do you come down here is it time to buy the dip? are we maybe past the worst -- past the worst part of what was a fairly shallow correction, obviously? is it time to do a marko and buy the dip? >> i don't know if it's early enough to buy the dip, scott you talked about the negatives of the three of them and one of them is off the table. i do think we have to get through earnings season to actually understand we all have an idea at a high level and what are the supply chain constraints and how much is demand so i would go head first in if you had cash on the sidelines and you should actually wait and be more patient because to
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josh's point, you can have some high-quality companies that get sold off for non-fundamental reasons, so i would wait a little bit and choose sparingly. >> so you're not doing anything, then, it sounds like. >> no. i haven't done much. it's at sarat capital? >> no. no it was slowly in, and waiting to see what earnings season has to look at and it's also year-end and tax loss selling and looking at a bunch of things in that sense and in the next four to six weeks and it will be interesting to do tax selling and point of oil is extremely valid and if oil does go up really fast -- does the rest of the world start getting more oil out and we know it doesn't come right away and there are others that can dislocate in the short term and could cause a correction so it's probably too early at this point >> i find it interesting, a move
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that you made today, josh, as you talk about the nasdaq erasing its loss for october as jim cramer suggests to buy the weakness in tech i've been highlighting over the last couple of days the number of stocks within the nasdaq 100 that are down double digits from their highs. it was 70% ontuesday which was 65% yesterday, which is now 53% today as the index recovers. you bought more matterport on some news that it had out today and that stock was ripping, as i saw it earlier can you tell us about that, please >> yeah. to be clear, that's an average up my cost is lower i've been talking about the stock for a while. i feel like this is the type of story -- first of all, it's utterly divorced from everything that we were talking about the macro has nothing to do with that at all and put all of that aside and this is a very
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company-specific story for me. so they came out with an announcement that they have successfully implemented their services within cushman and wakefield which is one of the largest property firms in the world so that all of their properties are going to eventually have digital twins. they'll have these doll houses that are three dimensional and they're a perfect copy of the space, and not only is that important so that a potential tenant can see the space, but it's important for the construction side and it's the data that really has devalued, the spatial data and efficiencies that can be derived from the property owner. this is something that for me is a special situation. i couldn't tell you if the next two or three points for the stock are up or down i'm buying it as an investment, and not a trade and i don't view it as, like, tech stocks got cheap. this one is closer to the high than the low
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i just view this as something that the news that is propelling it is the kind of news i want to see so it's confirmation that i think is in the right place. >> i'll tell you, they're up the stock was up 7 or 8% today and now it's up 11 what a move for mttr i hope people are careful -- on i hope people are careful because it's a volatile stock and it's a midcap or small stock without a lot of history as a publicly traded company. people should do their own research and decide whether or not it belongs in their portfolio. i personally have fallen in love with the story and i've been accumulating it slowly over time. >> i hear you. on the tech conversation, sarat, back to you, so these are among the stocks that have pulled back fairly hard and i get that facebook is its own individual story in some respects it's down 12% in a month and apple, alphabet and microsoft are all down in the last month you have positions, i think in
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everything that i mentioned and all of the big five. as wall street continues to defend these things every day. i've mentioned calls every single day on these names. most of them reiterated with overweight and the price target or the price target bump almost across the board how do you view these now that they've pulled back? >> so, you know, i think companies like google are -- it's our largest holding, actually, and i would add to divide new money and new account. i think google is getting punished just because of what was going on on the facebook side and when google was in the news i still do like it i would pick it up if i had new money over here because that's the time when you buy the companies when they're in the negative microsoft is a core hold, as well i'm keeping my positions, i think, but at the same time you have to have exposure on the
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other side and the cyclicals and financials and that's where that bar bell works so i'm not overweight tech >> five minutes ago you told me you would wait to do anything because the market would come down more and now you say for alphabet which is your largest position that you would add on weakness, so which is it now i'm confused. >> well, if i had capital and new money coming to an account i woulda add to it i'm not reshuchling my portfolio to have google to have the position that i want in there. >> all right from tech to energy. since, jenny, you have considerable exposure in energy. kinder morgan, chevron, duke energy, ppl corp and that's the part of marko's note that you said at the top of the program that you agree with overall. energy is the sector year to date and i get it's a small percent of the s&p 500 and i'm not sure how wudly owned these names are, but why do you think we should stay with these names?
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>> so you can see it's the best performing year to date and that's great, but to have a real perspective, you have to look back five or 10 years and energy stocks have done nothing over five and ten years which leaves them in a position today of having great free cash flow, great dividend yields on many, super low p-es they have been totally ignored for the past five years, and so even though they're up a lot today they still have really, really low valuations. >> there is an interesting ft article this morning and hedge funds cash in as green investors dump energy stocks and what it says is over the past nine months, ten months a lot of hedge funds have seen the same thing i've seen and whoa people want to think that they're in position right now to have all renewables and green energy supporting us and driving us to work every day they've billed them as evil and terrible the reality is we're super reliant on the products that we
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produce and that's kind of what we are seeing in kolanovic's report and that's because there's huge demand and there is a long runway where we can earn money and there is a lot more that we can get out of them. actually, scott, earlier in the year i was saying it would be easier to make money this year and i think you thought i was joking, but i wasn't and i still think it will be easier to get money and energy for time to come. >> touche, you win sarat, chevron and eog >> yes so i agree with jen owe this, and i think we dipped our toe and we're market weight energy because we thought it was cheap and over the last five years we got killed by having exposure there. the key in energy is having really, good, solid diversified balance sheets because you can get the $130 oil and you also can go back to 40 and we've seen what happens in the oil patch at
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that point because there is no one that you'll be lending to you unless you get ridiculous rates. investors have moved away from the sector whether it's eig and capital that is coming in there is capital that is expensive and it's hard to get, so you really want to be with a chevron who is raising its dividend or royal dutch and eog and those are the companies we like and they're going to make a lot of money in this period, but then when oil does come and revert, they have to make sure that they can still have break-even prices >>k do, what's the most compelling energy name on your board right now? >> gosh, it might be mur, scott, murphy, but there are so many that i like and as you any i have discussed these have hit and hit and hit. i credit tom lee with being early on some of these, but as long as you are a buyer on any
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of the dips this year, the xle's gone from about 37 into the 50s, scott and that's a broad swath of those companies you look at the production side of it and it's even more dramatic so i think anybody -- devin energy is one of my favorites and among my largest holdings is devon, den >> want to take a break and talk about a stock jenny is taking profits in interesting move here after a huge gain. we'll talk about that next plus we will trade the biggest analyst calls of the day jon's got unusual activity we will discuss jim cramer's investing club once again because he has some very interesting stocks about chip names that you need to know about. we will react to that. you can sign up, scan the code as well. there it is on your board. we are back on the half right after this
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working at recology is more than a job for jesus. it's a family tradition.
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jesus took over his dad's roue when he retired after 47 year. now he's showing a new generation what recology is all about. as an employee-owned company, recology provides good-paying local jobs for san franciscans. we're proud to have built the city's recycling system from the ground up, helping to make san francisco the greenest big city in america. let's keep making a differene together. ♪ ♪ ♪ ♪ ♪ all right. welcome back jenny, i mentioned the stock is taking profits and it's up 111% last year and it's interpublic and you sold it. >> right so this is a company that i bought just a year and change
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ago, and when i bought it -- by the way, it's a big marketing company. so think of all of the advertising and you can actually go old school and think of madmen, and it's so much broader and bigger than that anyway, when i bought it last year all -- everything was disrupted and everything was dislocated and i had this golden opportunity where i found the stock that was terrific and had really strong, free cash flows and listed at nine times earnings with a 6% yield fast forward a year. it's got a less than 3% dividend yield and trading at 15 times earnings and it had its move and i did valuation move and no way i can justify significant growth from here based on the valuation. the company is doing great and this is not a knock on the company. i try not to fall in love with companies and it didn't make sense for the portfolio anymore. again, and you have really strong disciplines in place. i have to maintain a big yield in the portfolio and this yield was too low and i have to look
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at the valuation and think what else can come from it. i sold it. it's hard. as interesting as the sale is i have not used the from seeds and this is to what josh and sarat said earlier and it's going to be a weird quarter i totally agree and we were talking about buying the dip and not buying everything now and we this think about rather than buying the gip, patience rid now for the next quarter, i have things i want to buy so it's not quite time yet, so patience will pay off and when i re-invest proceeds i'll let you know >> i heard you say something that josh will react to. i'm quoting now. unlike josh, i don't fall in love with companies. i was expecting you to jump on that. >> i love jenny and jenny can do no wrong in my eyes as i've said -- >> yeah, right >> my only reaction would be it pays to fall in love with companies if you fall in love with the right ones, like apple,
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for example, and i think that kind of enduring love for a company so long as they continue to deliver makes it easier to stay with those companies through the tough times especially when there is volatility driven by factors outside of the company, and so i can give you a lot of great examples of how that's worked in my favor that's one two, never fall in love without a prenup i think it's very important to say at the outset. here's why i think i'm right and if such and such changes, i would have to revisit whether or not i'm still right or now i'm wrong and i need to make a change love is a wonderful thing, jenny. you should try it. >> did jenny buy you that burger yet. that's what i want to know most of all did she buy you that burger where the? >> not yet i'm trying to convince him to double date. >> don't weasel out. a bet is a bet >> it's not on me. >> a bet is a bet. >> let's talk about calls on the
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day. i've got square upgraded to a buy from jefferies and they say it's a must-own stock and i almost feel like it should be a square or paypal conversation. i don't know why doc, you own square calls. >> ooh >> josh owns paypal. sarat owns paypal. i don't have anybody who owns both and i'm wondering -- >> how about i own fiserve >> i know, but that's not paypal hang on a second. >> pipe down, jenny! [ laughter ] is it an either/or why is this? >> it doesn't have to be an either/or, but square has made a much more concerted push into urban areas for the unbanked, scott, and i think that's really paid off for them. i had a chance to sit down with the co-founder of square at the salt conference and jim, if you are watching, thank you.
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a great conversation with him, scott. that's a company i truly believe in, and i've said it from the beginning that this is jack dorsey's opus and not twitter, and i think they just continue to do wonderful things both with digital assets and cryptocurrencies as well as providing more for the unbanked than virtually anybody else, so i really like square and that's why i'm sticking with that one >> okay, josh. again, your paypal do you think it's an either/or >> it's not, and -- and i think where they compete head to head is venmo versus cashapp and cashapp to jon's point has done a much better job in pop culture -- look, jay-z is like the de facto ambassador for square at this point those photographs of jack and sean cotter walking on beaches in the hamptons and california,
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those are strategic. someone didn't get lucky and show up with a camera. so there's a lot going on beneath the surface at square. they're very smart and they've done a great job penetrating that audience and there is a lot of growth potential there. venmo, i think, is a little bit different, but again, they do compete head to head i do think there's room for both and there isn't a third competitor unless you count zell which is this consortium of banks with their own version, but i think there's room for both i like paypal better because i think they've done a better job on the e-commerce side square looks like it wants to compete with coin base and robinhood and be more brokeragy and i'm less bullish on that no reason why both of these stocks can't continue to work. >> let me hit this neocall, too, before we get to a news break. >> upgraded goldman sachs to buy. price target is 56
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that's a big move. doc, you have calls. on this call today jim cramer said and he was emphatic, no, i do not want people in these chinese stocks so is there a rebuttal to jim on that >> well, the argument against it has been, of course, that circular firing squad. in other words, this is all damage that they've inflicted on themselves that is the ccp inflicting it on these companies, scott as soon as they put the guns back in the holster, that's the time to buy, and at least for the time being they have, we talked about it with weiss yesterday and he covered his shorts you look at the moves today. billy is up better than 10%. baba is up 10.5%, pdd is up 6% they're are exploding to the upside and they've been buying them in the last four sessions in big n both stock and derivatives, the option side, judge, and so that's why i follow it in
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i'm not saying jim's wrong i'm saying once they put that gun away then these companies can go back to work and so far they haven't shown that they want to draw that gun back out of the holster >> for ten minutes, but you have to be an extremely nimble, forget investor. >> still in a substantial downtrend. >> but we're not talking about half percent or 1% moves i mean, as soon as that pressure stopped, these stocks went zip to the upside, and so that's why they became so attractive to us, and i think why so many people in particular probably, the robinhood crowd and a host of others said well, if they're not going to inflict any more damage on these companies on purpose then i'm going to be long these because they're half off 50% off sale. >> quick, josh, because i heard you say they're still in a downtrend. if you look at the chart, the charts despite the gains don't look good and be quick, if you could. i have to take a break.
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>> even with today's gain baba is in a 50% drawdown from its high which is october 20 in the last 12 months count up the 10% rallies like the one we're seeing today not one of those had led to increased highs. so if you're playing it, i think john is right. this is, like, very, very short-term trading until we have signs of a real bottom and it is too early to say that this is it >> okay. let's leave that there let's get the news update with christina. >> hello so here is your cnbc news update at this hour 18 former nba players are facing federal charges they stole $4 million from the league's health care plan. federal prosecutors say the players submitted false claims for medical care they never received and nearly all of the players are now in custody how the players did it and who helped them with the scheme. that's tonight at 7:00 eastern this year's nobel prize for literature has gone to a tan zaynian author gerna his novels have colonialism and
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the fate of refugees he's the sixth african-born write writer to win the prize. thousand of haitian refugees were getting ready to travel to the u.s. southern border however that information was not shared with key immigration officials leaving them ill-equipped to handle the 28,000 migrants who converged on a texas bridge last month. scott, back to you >> thank you more trades ahead, including john's unusual activity. we're back in two. more than two-thirds of s&p 500 energy companies have made carbon neutrality commitments compared to one-tenth of the whole index. three-quarters of energy ceos have esg metrics as part of the compensation agreement, too. think of companies like conoco philips, schlumberger and marathon petroleum which all score highly on bank of america's esg meter and are outpacing the broader markets so
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unusual activity, what do we have today >> well, scott, i'm sure your viewers will be shocked, but oatly is a $9 billion company and of course, they get milk and other products from oats and not from cows and oatly, they're buying the december 15 calls scott. big numbers today. it's up 7,000 or 8,000 on these already with the stock at the mid-13 range and they're buying the december 15 calls. second trade, open, and great opening trade because of that, and 7500 of the october 20.5 and that's 2050 calls were bought with the stock at about $20.20 i own both of these, scott, the short-term ones and the octobers will be in ten days and the other in two months and a quick update about hta this is a health care reit
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we talked about it on the 29th and this one is having a very nice performance today and somebody made a great call early on this and we followed them in and we're taking profits today >> just a coincidence. >> 929 and elliott has a stay. >> just like twitter yesterday, scott. they were buying those calls like crazy yesterday and today they've come up with a sale of a division and the stock pops, imagine that >> yeah. go figure. >> doc, thank you. >> up next, chips and autos. they're in focus and cnbc's investing club with jim cramer will sort and debate some of those names on the list. plus, it's hispanic heritage month, and we are spotlighting cnbc contributors, business leaders and our own anchors and reporters. here is news editor fred imber >> take all of the opportunities that come to you, if it's not something that you will end up doing for the rest of your life it is something that you will take skills from or whatever your dream job is. it could also turn out that this
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opportunity is something that you really like and end up making a whole qaa roacareer out so take advantage of the opportunities as you come along and you'll be on the right track for your life.
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all right. shares of marvell technology hitting a new record high today following the investor meeting today. jim cramer of cnbc's investing club says marvell is his second favorite after nvidia. what i find so interesting here as he owns nvidia, marvell in the charitable stock is nobody owns this stock. sarat doesn't own it jenny doesn't own it jon doesn't own it and neither does josh. josh, why is that? what are we missing? what did we miss >> well, i mean, you can't own everything like, not every lack of ownership is necessarily a judgement, i just i have my things that i focus on -- >> oh, i am judging, man i am judging why not? you own nvidia >> okay. well, listen, i own the qs
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i'm okay i have plenty of cemex poesh you are. i just -- look, i'm not one of these people that thinks you to have a stock du jour i tend to focus on a few different names at a time, and like i have broad ownership of a lot of things, but like, if i really want to get personally invested, i am downloading the quarterly results on the quarter app, for example i'm listening to that religiously. i can't do that with every stock under the sun. nobody can actually do that. >> no. i'm just giving you guys a hard time no one owns it and the stock does incredibly well >> can't kiss all of the girls, what can i tell you? >> 65.60 is where it currently sits amd and the smh calls, no marvell. >> right no marvell, and i've missed out on this one, scott a little of that was, i guess some of the mental anguish that happens when they were just pounding on the nasdaq, scott,
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but there were people that did profit from it, not me, but there were buyers of october 60 calls and they still hold those calls and they bought 10,000 of them just earlier this week, and i didn't jump on that one. so obviously, some of these trades have worked out really well and jim is a smart guy. i think he's on tosomething here and hopefully it goes a lot higher >> jenny, is there a reason why you don't own marvell when you have intel and taiwan semi or teradyne >> it has to do with the valuation, right, josh or my lack of imagination. >> i wonder. what's the p-e ratio >> yeah. >> it's, like, 80 times, i think. >> oh, no. >> here is the important point -- okay, but here's a serious point, we don't need to own everything to do well and josh brought that up you really don't need to look at the interpublic group i just sold. that thing was up 100% in a
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year you can't own -- unless you own spy, and don't have fomo on this, and that's where we all are. sure, we would have loved to have owned marvell and done well like jim and we also owned things that have done equally well don't have fomo. >> it wasn't showing up on my screen gm, let's move to that because we've talked about the stock a lot lately, and it also as cramer mentioned today as the company says it was going to -- it set these huge revenue growth targets. i question why they put a gun to their heads, says cramer who can see past 2022? big mistake. too aggress you have josh brown, too aggressive from general motors >> i like it we're in a fake it until you make it world with these ev stocks we just watched elon musk
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promise everything under the sun to do so and became the richest man in the world and it's not quite at that level, but first of all, they are delivering and this is a company that actually knows how to churn out trucks and cars so they may miss one target and exceed another one it's social media, nobody remembers and they put the ceo out and she's wearing a lerathe jacket i'm feeling the whole vibe i love what they're doing and investors are not penalizing technology companies for overshooting like, that's just not the environment we're in we may get back to an environment like that. when you are being penalized for right now in technology and gm is trying to be a tech company is not having a big enough imagination. so i know all of the people are rolling their eyes at me that's fine. good luck in life and that's what's going on in the current economy. you have to dream big, make big,
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audacious moves and you have to follow up and deliver and of course, anybody can promise anything, but i think it's work are for them so far. >> you can sign up and get cramer delivered right into your inbox with the cnbc investing club and go to or point your phone at the screen in front of you at the qr code. it will take you right there coming up, we're answering your 'ssktions next it a halftime and we're back in two minutes all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. ♪ ♪ ♪
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all right. it's time for "ask halftime. and we have a viewer question today. a video question, i should say for everybody. let's listen >> hi, guys, chastity here san clemente, california really quickly, i wanted to ask you, what are some of the short-term stocks that we should be looking at investing in for the last quarter of 2021 >> all right we thank you for that question jenny, do you want to start us off with an answer >> sure. you know how josh said he thinks it's going to be a weird quarter? i agree. and weird usually doesn't super strong so i'm looking to kind of high out i've got four stocks for you new york community bank, magellan mid-stream and b&g
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foods. these all have five and a half better dividend yields, they all have earnings growth ahead if you want to hide out, this is a nice place to go >> serat >> i go with uber. if you look at kind of where we are in the delta variant coming off, you've got european traffic coming to the u.s. people are traveling more uber's really going to benefit from this in the last quarter. >> good stuff. thk u,anyo guys. we'll come back and do final trades, next wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow.
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[swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.
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[swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. let's do "final trade. i think it was, was it yesterday you said you're buying more apple calls or you did
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i understand you just bought more >> yep, i did, scott yesterday we had unusual activity at the 140 strike in the weeklies then it moved up to the 142 and the 144 strike today i'm buying the 144s at regular expiration, which is next week, not this week and above the market here, scott, at that 45 strike, 145 strike, 86,000 open interest that's a lot i think we dropped to that level and maybe even through it in the next week. >> you think apple's bottom now? >> well, yeah, i think at that 138-ish level, i think that was a great opportunity. now we go higher >> all right, serat? >> they had earnings yesterday, they were strong, they raised guidance i want to own this going for the next couple quarters >> okay, thank you the reform broker, josh brown. >> gm. nobody's going to remember 2030 targets nine years from now.
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don't worry about it [ laughter ] >> all right, jenny? >> naviat announced that they wouldn't service federal student loans anymore. it was totally misunderstood stocks down 15% since then now you get to buy it at four times earnings with a 3.4% dividend yield >> thank you guys. thanks very much for watching as well "the exchange" begins right now. ♪ thank you very much, scott hi, everybody. i'm kelly evans and here's what's ahead this hour stocks are rallying big time today as dc drama lifts. the dow has surged 1,000 points from yesterday's low but what happens come december when we have to raise the debt limit again? and soaring energy prices are typically thought of as a threat to the economy, but things have changed a little bit. we'll get into the real nitty-gritty details and talk about who will bear the brunt of these price spikes we're going around the world to show you exactly what's happen


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