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tv   Fast Money Halftime Report  CNBC  October 26, 2021 12:00pm-1:00pm EDT

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so perhaps this will weigh on apple. >> we'll see >> apple ostensibly is doing it for the pr purposes as sam would argue, but because the customers see value out of it. the story with the information, a lot of lessons regarding apple today. of course, in the morning we will get coke, mcdonald's, boeing let's get to the half. carl, thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour, the record run for stocks and the big question how long can it last we'll ask the investment committee today and find out what they are buying and selling and joining me for the hour, stephanie link, degas wright and jon najarian and founder of investors digesting earnings report you see the dow, s&p, nasdaq all in the green transports are hitting a new
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high and there's the yield on the ten-year it's remaining stable and weal begin with the marketses hitting new record until i learned news about jon najarian's facebook position i want to go right to you because i understand you've been selling ask selling a fair amount over the past few days. >> yeah, scott i don't know if it's breaking news, but yeah i've cut my stock position in half, scott. i still have the option position that i described to you guys a couple of weeks ago, but the combination of ms. hagen's testimony to the congress and over in europe as well as the fact that facebook has said that what apple has done with their new settings has impacted and likely will continue to impact facebook's ability to offer the ads that facebook expected i think that continues to weigh on that stock, scott so i didn't want to own as much
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stock as i did, so i've continued to lighten up on that. calls are a different story, and i can risk $3 or $4 on calls so i've decided to cut exposure to the stock dramatically >> it is breaking news for us, doc, when when was one of your larger positions gets cut in half especially when we're spending time today talking about an earnings report the flip side, of course, is stephanie link who just bought facebook last wednesday going into the print and tells us today that she is buying more stock. so you're taking the other side of doc >> i'm taking the other side of doc. look, i did not open this or buy this for the quarter i bought it because numbers had come down so much and expectations had come down so much to account for the privacy changes. everyone's going to go through this with apple. so they're no different, but the
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numbers have come down the valuations had come down to 20 times earnings, ten times ebitda, and i think they can grow at their ad business 20% on a sustainable basis. look, the quarter was mixed. i'm going to take the positive side, 35% year over year revenue growth u.s. and canada had used that which was a surprise, and i think the new disclosures for their breaking out their traditional businesses to, you know, some of the new earn nir ti initiatives in particular and i think that will get them a better rate, a re-rating we saw that with google, amazon, microsoft when they disclosed more so as facebook discloses more this is a great long-term story on sale. >> you say the quarter is mixed. the revenue missed and the monthly users missed and they
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met their daily user number so the story was more negative than positive i think we can objectively say that what i want to know from you is does this show there are cracks in what's been a fairly teflon story? >> i don't think so, scott i really don't i look at the u.s. and canada seeing growth for the first time in two years that was positive for me i look at revenue growing 35% year over year and that's respectable and i do think expectations have come down considerably this is a profitable company with size and scale. you want to compare this to snap because it's not profitable. if you want to look at price to sale on facebook if you want to look on twitter it's 11 times and this is a growth story that's pulled back 15% from its highs and maybe more now and i will continue to add to it and build out my position i started with a small position and it wasn't for the quarter and there was opportunity and
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growth on sales is what i like to look at on the growth side of my portfolio >> steve weiss is also alerting us that he sold some of his facebook as well so our own investment committee is certainly taking sides. degas, you owned facebook, as well the street is weighing in today. there are some price target cuts overwhelmingly, the street is coming to the defense. j.p. morgan reiterates it, overweight and it does cut the price target and goldman maintains buy and cuts the price target and that's largely the story you're getting today, and bringing the price target in a bit because of the challenges that exist what do you make of it >> yes, scott. i'm probably closer to john because we had underweight to facebook because ultimately the whistle-blower shown a negative light. overall it's not going to have a significant impact on facebook
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in the long term you know, if we want to deal with these issues we'll have to have regulatory guidance, however without that facebook will still be the place to get these ads and that's where they're going to be focusing on and generating ads and that's where we continue to see an upside for facebook, but once again in the short term there will be a pullback and that's what we're seeing. >> all right, josh give me the download, then and you've heard what everybody has to say and i know you have a negative overall view of the company and you don't own the stock and maybe there's another social stock that you prefer to facebook, but what do you make of the results and what do you make of what you've heard from your fellow committee members today? >> i don't take delight when a large, popular widely held stock goes down. i don't -- i don't do i told you so, but i have been referring to this company's product as cigarettes i understand it's the most effective advertising engine in
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the world which i think is more than represented in its current market cap, but from a technical perspective i think it's on the verge of losing its 200-day moving average for the first time since march of this year. that happens very rarely in the history of facebook's stock and it almost always bounces off of that level so i could be wrong and it bounces once again and let's call it 319, 320 i don't think that's how this is going to resolve i think the stock will have a two handle before it's done. listen to what they're telling you. they're telling you that there is a long term challenge to the way that they're doing advertising and a long term roadblock that rhymes with snapple, and they're talking about the metaverse which is laughable as a replacement for the ad model it is not going to replace the ad model zuckerberg is saying the latter part of this decade it might be a business latter -- it's 2021. it might be a business
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they'll put another $10 billion into that. they'll have $100 billion in investing next year in 2022 is the current guidance i don't think they shouldn't invest in the metaverse. i think they should. it's going to be a very long time to get from here to there and there's going to be a cloud over this name for a while given all of these challenges. i don't care about the whistle-blower stuff everything that's been reported we all already knew that and we knew what these people were capable of, and that part, the ethical part, i assume every gigantic technology company is ethically challenged and what's going on here is a slowing of the ad business and nothing to replace it for a very long time in terms of profitability and that's going to be a tough hold for investors here so i'm rooting for facebook longs. i'm not short the name i just want nothing to do with this dip >> okay. so, steph, he's rooting for you because you're a facebook long i'll give you the last word before we move on.
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what about what josh had to say? it's not about the noise and it's about the challenges to the fundamentals of this company >> they all have challenges now because apple changed the rules, right? it's not just facebook alone. >> no, they don't. amazon does not. google does not. >> snap does and snap was down -- >> i don't care about snap >> snap was down 25% >> i do. i care about the competition i look at twitter and snap and facebook all the same because they're in the same genre, right? so they do have the exposure and i'm looking at where there is relative value and one segment that they're breaking out is 50% margins. that's huge. that's not going away any time soon steph, twitter doesn't have the same challenge >> it's a -- metaverse is a million dollar total addressable market >> maybe scott asked if they have cracks
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on it. the we don't know. and oh, by the way, they're buying back stock, too i like that, as well the story has changed and it is changing and evolving, and i would want a growth company with all that cash to be putting stuff to work so that they can continue to see other areas where they can grow when there are challenges in some of their other businesses >> the twitter comparison is not up they do not have the same challenge from the ios privacy change because twitter has historically not been as good as facebook i'm fig urg out things about its users. twitter relies on major events and major cultural conversations and -- >> one of the growth stories -- >> -- of the advertising business they're not as good as this. they're not there. >> and one of the cases for twit twitter they do get the ad business right and i've owned that stock, too.
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maybe it's not as big a problem for them as facebook and it is a problem that they can't get that business going >> let'sdo this. >> josh, to a stock that you -- that you much prefer is alphabet and we'll get those numbers, too, along with microsoft. alphabet is one of the better performing mega-caps along with microsoft this year. microsoft is in a new high today and the target goes to 33.25 that's a 20% upside from here. josh, tell me about alphabet and why you prefer it over all of the other mega-caps if that's the way you see it >> let's do the comparison where it makes sense, right? the question has always been if digital is a duopoly essentially and i've always said alphabet and over the last year i've been vindicated alphabet is up 68% over the last year the qs are up 33% and facebook's
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up 15 including today's damage so this is a stock that has far outpaced its peers i think when you look at the fundamentals that's actually justified and let's talk about what's being expected today just to give people some sense of what's happening here and they're going to do something like $63.5 billion in sales. 16.2 billion in profit for this quarter. understand the comps last year that same quarter, 46 billion in sales and 11 billion in profit. this is the fastest growth rate for alphabet year over year in 15 years not only are they not facing the same headwinds that facebook is facing actually, unique among all of the faangs their business is accelerating why? what did i tell you about this company? it's a re-opening play yes, it got the help of people in the pandemic being on the
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internet, blah, blah, blah why do you think people start their day with before they go out and do something they research it online and they search google, not facebook and this is the re-opening large-cap tech play and the performance of the stock this year actually bared that out i think this is the best in the company's history and it's a 30% year over year if i were holding a mike rather than having a mike on my tie i would drop it on the floor and step on it >> steph, i know you're not going hate on alphabet because you own it the only negative that maybe you hang on it is as josh said it's an overwhelming positive and that's the stock performance year to date it's in the 60% gain. >> 27 times earnings 27 times earnings. it's okay. it's okay. >> it's not 58%, and i took some gains. i thought that was prudent to do, but i still own a very large
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position i do agree that it's going to be a good quarter with operating leverage and that's the reason why the stock has re-rated because they have delivered for the last couple of quarters operating leverage i think they'll have very strong top line i think cloud can grow 45% to 50% in the quarter and i think youtube can grow 47% to 50% in the quarter. remember they grew 84% last quarter. as far as being a re-open play only 10% of search is travel and that's a nice part of it, but there's so much more to this company, but my point is, this stock is trading at a premium to facebook which i actually disagree with and facebook hasn't delivered recently in terms of its share price and i'm trying to buy a good quality company lower where i think fundamentals over the long term will be very strong. >> youtube, search and apps are all better businesses than anything facebook owns >> josh, that's your opinion >> no, profit wise
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>> degas >> okay. so as it relates to alphabet -- we like the company, and we're continuing to hold the company and so this is a dominant force as josh was saying as it relates to global search, the cloud and it's going to continue to do well in the space. plus we like the valuation it's a little expensive and we like the valuation at these levels plus the profitability and once again, this is a hold for us >> doc, i'll give you the microsoft because it's no slouch, obviously. i said the stock hit a new high. it's up 40% year to date if pete were here he'd be banging the table and tell you why microsoft is so great and satya nadella would be, too. give me the read here and we'll move on to another story
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>> scott, one of the read-throughs is most of what they deliver, they deliver by zeros and ones and that is they're using the internet whether they're powering it with azure or whether they're delivering their software via the internet that's the great part of their business and they also have the hardware side of their business. that's what i'm going to be interested in, scott because if they start saying negative things about how supply is so constrained that they can't get enough product out there, that might be a lead-in to what apple who delivers far more product as fares those i phones, macs, ipads and the like all of that, i think, will be very interesting and telling in the microsoft call so are they going to do great? i believe they will, but could there be kifrnks because of the delivery that is out there again, that could be a read-through, scott, into apple,
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two days hence >> let's do this i do want to have a conversation about the broad market because i do have some interesting notes that i think our viewers would appreciate and find interesting. let's hit tesla, though, before we do that obviously hitting a trillion dollars in market cap and joining that stock yesterday the stock trading above $1,000 a share. i bring it up because we do have twopeople on the show today wh own the stock. it's up again today. it's up 1.75%. it's sitting above a trillion in market cap dr. j, talk to me here what do you see on this one? is the options market telling you anything >> yeah. that they've bet and been right and right and right on this one, scott. just in the last ten days they were buying the 850 calls that expire the end of this month and the end of this week, i guess, and then they rolled up to the 900 calls that expire in november then they rolled up to the 950s and now they're rolling up and i've rolled up with each of those. now i'm in those 1010s out in
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january, scott i mean, this one is just a monster. basically, as it's exploded to the upside as elon musk has distanced himself from the field as far as the richest humans on the planet the stock just -- hurts news was unbelievable it's great for all of the ev makers, of course, that hertz would make that kind of commitment it was also great for some of the battery and charging like blink and american battery and tech and everyone who is involved in that space, scott, has to be just be cheering that news and knock on wood, this one has become my third largest position and that's because of where the stock has gone and not just because i kept adding to it, but my gosh, the stock is just on fire >> yeah. >> it certainly is it's art adding slightly to its gains today. it's above $1,000 a share and we thought it only right to tell us
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about his new skull, buying, steve weiss joins us on the phone to tell us about his new call, selling. steve weiss, you sold 75% of your tesla calls, i understand the getting was too good >> it was too good i saw them and they were up between 350 and 500% in 24 hours. unlike john, i owned the november 1050s and december 23rd, 1100s andalso it's the december 3rd 50s so it was -- i mean, look, when something moves that quickly, and i did not expect it. i thought it would continue and then you have time value that you're going to lose, but the stock just stays flat. it just seemed prudent to book that kind of gain that you'd take at any point in time so the stock falls back i still think the momentum is there that maybe i'll revisit at
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that point, but this is clearly the momentum of the stock moving along the momentum of the fundamentals as you know, i've got a very, very sizeable position in volkswagen and porsche which needs the space which i just think is a lot cheaper and more durable at this point. >> happy it take the profits >> let me ask one quick question before i let you run >> to my recollection and you can correct me if i'm wrong, is this the first time in many years that you've played around in tesla shares or options in any way? >> it's the first time in a long time, so i periodically have been short the stock, and i don't think i ever made money on the short, frankly, and periodically been long it, but yeah, it's been -- i don't remember the last time i was involved in the stock, scott so your recollection -- >> that's what i figured and i don't recall -- pardon me, steve. i don't recall us having this conversation any time in recent
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memory i appreciate you calling in. and i want to get an upon date a and we owed that to our viewers and they should hear from you today. i don't want to ignore the broader story in the market today. we have new highs today. the dow and the s&p we are only 17 points away from 4600 on the s&p as well. look at that, 45.82 an82 and 45. micha michael kolanovic, and he said the risk market rebound will extend itself because of what we're learning from many different companies and it's not just tech. it's all sort of different sectors and not to mentioned seasonality which earn has been citing over the last ten days to two weeks that's the positive outlook for stock investors? >> i totally agree with his call i think the markets are higher
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because earnings have been good. we've only seen 30% of the market cap companies report, so we have a ways to go, 80% are topping expectations and why it is so important is because stocks file earnings and they follow profits and i expect them to be good i expect the three q earnings to be strong. i expect guidance to be tempered because of supply constraints. i expect cycles to be elongated because of supply constraintis and think the setup into the end of the year is definitely risk on, for sure it's more cyclicals more re-opens because that's a theme that will extend until next year and at the same time i'm buying things like facebook because i'm looking at growth on sale. >> josh, i do find it interesting when you have two notable strategists and names that frequently get mentioned who have differing opinions on where they think stocks can go in a reasonably short and same period of time in the market
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i said callon vick, and we see more down side risk to the s&p 500 through year end their year-end target is 4250. that's notably lower i said we're knocking on the door of 4600 and a lot of people think momentum is with the bulls. she talks about extended valuations and a sell side indicator and peak margin risks because of supply chains, labor inflation, et cetera, et cetera, et cetera. which side do you come down on if you had to pick between the two views. >> it's tough because there is no science involved in it meaning everyone is looking at the same data and they're overlaying the bias to what their gut tells them the data is wlich r whispering this scombreer if there was sentiment and strategists and valuation
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and mix that in the pot and come up with an answer. they we would all have access to that answer so we know it's hart and i don't worry too much about it here's the reality all-time high dow, and all-time high, s&p 500, and xly is going vertical home depot, lowe's, vertical we nailed that sort show, by the way, unbelievable. nvidia is goated pull up a chart of nvidia, nvda and if this metaverse nonsense goes through this will be the large of the market cap in the world. xle, 52-week high and that's what you need to be focused on to try to look at, like, oh, there's margin pressure. what you're seeing from the largest corporations in america is they've been successful at passing those higher costs on. they can't do that into infin itty, but that's the story of this earnings season and steph
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probably knows more about that than any of us and if you listen company after company they're telling you that what this big fear in the market is, this inflation story they're managing it it's not great, but not catastrophic and that's why the whole rundown of price action i've given you is probably the better thing to focus because the market's not stupid. people are figuring this out and that's what we're seeing across the board. you have to really be searching for stocks that don't look good right now. cruises, airlines and facebook that's how i look at it, i don't worry too much on predictions and i worry about today. >> can you do the mike drop because i have to go to break. >> i'll get a pastrami sandwich. we'll come back and we do have more earnings out today including general electric nelson peltz told us he's
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bullish on theomny a cpand it's one of stephanie link's greatest names. we're back in just two minutes ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq
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it's another day. yeah... oh. don't worry i got it! and anything could happen. it could be the day you welcome 1,200 guests and 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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watch earnings and watch sales and this's nothing bad that you can do to a company they had the best airline, air force, airplane business in the
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world and they got shut down okay that's coming back they have a manager i rarely ever met any who can hold his jacket and koch is phenomenal and let me tell you something, he's done a great job and it will start to show itself. >> all right that was nelson peltz with us last week speaking about general electric the company reported an eps beat and a revenue miss all right, steph you've been the biggest supporter of this stock on this show what do you say now? >> i thought it was a very solid quarter. earnings beat, as you mentioned and led by power and aviation. aviation orders grew 70% year over year. that's incredible. total revenue organically grew 10%. the biggest thing i look at with this company and boeing is free cash flow ask they came in at $1.7 billion versus 1 billion expect eggs and i think some of
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that supply chain and will be 350 basis points and that's remarkable for a company like ge he's doing a great job i like the story >> okay. then there's ups, degas which beat stocks up nicely today. i thought one of the best lines of the entire day came from jim cramer earlier when he said of the ups earnings report, quote, a true blowout in what many thought would be a blow up you have to be happy with this report look at that stock move today. >> exactly, scott. carol and her leadership team have done a great job. there was excellent growth in ash and europe of 30% and that's driving results today and ultimately thshgs is a company of great valuation and very attractive at these levels and profitability at the top, and then we're seeing that the analysts are starting to increase their revenue and also the eps, and it also has a 2%
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dividend yield long term for sustainability, they're looking at getting about 30% of their global air fleet to use sustainable aviation fuel, once again, this is hitting on all cylinders. >> yes speaking of cramer, by the way, he dropped a new note from the investme investment club, as well and the cnbc investment club and i hope you all new and they're trimming walmart shares you have walmart calls so they're selling 150 shares of basically 150 bucks, just shy of that and they say 149.33 they still hold 850 shares and that represents a little more than 3% of the overall portfolio what do you make ever this move for someone who has target stock in calls and who had walmart calls and i presume that you still do >> i do, scott, and i have
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written calls against the calls that i own because, you know, i want to hold this one until black friday it's a seasonal trade that we try to always get in if we're not already in the retailers and we want to be in consumer discretionary and in particular, retailers exposed to the holiday shopping season. labor day to black friday. that's my trade every year it's a seasonal trade i added to walmart i like it. i'm not saying jim's wrong for taking profits because you're never wrong to take profits and jim's a smart guy, and i've been doing this for a few years i like holding this one, scott until black friday that's why i'm more willing to sell 150 calls and sell 155 calls instead of selling the stock because i could have more legs over the next four weeks, basically, so that's my play jim's being disciplined and you can never knock someone for being disciplined.
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>> yeah. let me just remind you, too. the point your phone, as well, your camera right there at the qr code and it will take you right there and make everything easier for you and go to the cnbc investing club let's get the headlines from rahel solomon. >> here's what's happening at this hour. the number two democrat in the house says he is hopeful a spending deal could be reached within hours steny hoyer saidys there could a vote later this week and president biden on the campaign trail in virginia and who is leading the race to become that state's next governor? that's tonight at 7:00 eastern u.s. and european law enforcement have arrested 150 people and seized moor than $31 million as part of a probe of darknet dug trafficking. the justice department said the represents are connected to a 10-month investigation >> sudan says the prime minister
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is being deposed and held for his own safety and accusing other politicians to driving the country into civil war the council will rule sudan until july of 2023. brady giving something back to the fan who returned a very special football he's the first quarterback, and the ball was given to a fan by a teammate in exchange for tom brady jerseys and other gear and he is also giving a fan a bitcoin. it could be worth as $500,000 and he got a bit coin, too >> including the most important expert in the story, tom brady himself who last night said that the guy gave up all his leverage when he gave back the ball he's getting a pretty decent ball rahel, thank you >> up next, the trades on one of the today's analyst calls including one stock that you need to hear about because josh
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recently bought it we'll talk about it right after this last week cummins, announced the production of its 100th battery electric bus over 50 transit agencies have already purchased or have orders in for the electric bus through 2023. cummins who is known for heavy duty trucks also announced it will begin production on a 15-liter engine with natural gas by 2050. shares of cummins have underperformed so far this year. that is your esg fast fact of the day. f thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first.
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we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. that's the thing about claims, you see. they don't happen on your schedule. i mean, take a chestnut, it doesn't just say “oh, beg pardon, sir, but is now a good time for a jolly bit of window cracking?” i mean, if they did, you wouldn't need
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a geico claims team that's available 24/7. but, near as i can tell, chestnuts don't talk. or maybe they're just really quiet. geico. your claims team is here for you, 24/7. well, got things to do mr. chestnut, so...
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all right. i want to hit a few analyst calls. coin base, shares are lower today. they are up 40% in a month citi, there is a stock up more than 1%. city initiates coverage today with a buy they see a 27% upside. josh, 415, the price target. you recently bought this stock >> yeah. i didn't expect it to move as
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quickly as it did. i think i'm up 25 or 26% already. this was, like, the easiest trade that i've been involved with for a long time you look at the technicals and it had been consolidating since may, pretty much left for dead after its ipo and then is starts to break out above that may level. you pull the trigger, the stock explodes and oh, by the way, that coincides with the massive rally for bitcoin and et cetera, and the call from citi is the point i was rying to make when i pulled the trigger on the bye which is that this is a direct exposure to increased retail and institutional involvement in crypto like, you don't have to overthink it the more adoption there is the better coin base will do and the more enthusiasm there will be for their stock. that's exactly what's happening now and that's exactly what will happen into year end coin base is uniquely
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positioned they are the company that spends as much money on lawyers as engineers so, yes, there will be regulation yes, regulation actually will favor coin base relative to other companies in the space because they're already playing that game. now they'll get involved with nfts and staking and pre-paid credit cards and i just feel like if you'll make a bet on adoption this is the eastiest bet that you can make and it will have a handle >> let's move to best buy, reiterate at overweight. stephanie link, you own that company's stock. >> yeah. i thought they've done a good job in terms of execution throughout covid and supply chain issues they've laid off people and they have tough comparisons ahead for gross margins and same-store sales. i kind of think that's in the stock at 12 times earnings, but that's just something to be mindful of i'm keeping a little bit of powder dry so i can add if
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there's any disruption because i do like the long-term story and this management has done a phenomenal job >> disney gets reiterated market perform and price target remains 195. i told you in the last two, three weeks, chramer's charitabe trust, degas, you own it and there's the stock at 170 >> yes so what we're seeing is definitely a market perform for disney the streaming service will be the laggard for disney, but the re-open play into the part is what we we are seeing as a benefit and we're seeing it as a market perform >> all right we do have a number of chip stocks hitting new record highs today and two big names in that space report earnings, maybe two bellwethers in an sse 'lgethe latest from the committees up next
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it's another day. and anything could happen. it could be the day you welcome 1,200 guests and 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
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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. let's call your attention to facebook shares. take a look right there. the stock is down nearly 5%. there was a pretty good battle
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on this program, too, on word that jon najarian has sold 50% of his position in the last three days and stephanie link who said on this program at the very top that she was adding to her position on the weakness and we'll continue to follow that story and facebook shares down at the lows of the session down more than 5% amd, that stock is hitting a new all-time high today and reports earnings after the bell for tks tks instruments. >> dr. j, what can you say it's been such a great story to talk about is it go going to remain as such after earnings >> there are certainly a lot of bets that it will, scott last week, end of last week, in pack, friday the stock was 118 or 119 and buying the 130 calls and the stock had been moving up, moving up, moving up and now they're in the 130 and 135 call spread they being some institutions or
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some random institution that i don't know, but i like following those big money trades as you know, scott. so i'm in it we're in for the ride and also bought nvidia today because of the unusual activity bang, right on the opening today, they started buying upside calls in nvidia in the 340, i think, and the 345 strike or something like that 240. 240 and 245 strikes so big paper in that one, as well, scott, but those earnings aren't until november >> yeah. the stock are up nearly 6% and that in and of itself is a new all-time high as josh talked about earlier today, too there is texas instruments the underperformer year to date rally relative to its peers and in some respects maybe they still do degas, you own the stock what do you need to hear the today to get the stock moving again? >> so this is a company that has
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not gotten much attention as you just indicated however, it is up some 21% year to date and what we're seeing in texas instrument is that it provides chips for the analog, industr industrials and automotive industry in addition, we're seeing profitability at the top for profitability and what we're seeis seeing is this is a company that everyone will look at. >> just to remind you that there is a cnbc exclusive interview with amd ceo lisa su tomorrow morning at 9:15 a.m. eastern live on the street we do have more, including j'son unusual activity and we'll take a quick break and we'll come right back and do that
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in 2016, i was working at the amazon warehouse when my brother passed away. and a couple of years later, my mother passed away. after taking care of them,
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i knew that i really wanted to become a nurse. amazon helped me with training and tuition. today, i'm a medical assistant and i'm studying to become a registered nurse. in filipino: you'll always be in my heart. jon najarian, unusual activity what do you see for us today >> well, we started off with social media, scott. might as well stick with that because this one i do see people stepping in and buying in a big way, and that's snapchat snap, of course, it is down 33%, basically in the last week, scott. they're buying, they're giving themselves time though for a rebound here they're buying june at the 60 strike with the stock at about56. so that's a lot of time for them to be right.
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i like that, but i still like buying at the money, and i hope to continue to write calls against that as the stock recovers like i say, a 33% drop ouch take a look also at mpc, the opposite story just keeps going higher. this one, december 72.50 calls and that's what the stock at $68, they bought 20,000. that's 2 million share equivalent at that strike, $72.50 like that, i will hold that one probably a full month, maybe longer, scott, because i'm looking for energy to keep pushing higher >> all right appreciate that, doc thank you. we will take a quick break we will come back. we will trade some of the stocks hittg innew highs today and, of course, we will do "final trades" when we come back.
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all right. let's talk about new highs before "final trades." josh brown, starting with you. simon property group, spg, long-time pick of yours. >> yeah. the stock's been red hot lately. we've beentalking about it on the show since like 70 i have been adding to it as it has gone up. i continue to hold it. bank of america just gave us five reasons why the stock should go up to 165. is their new upgraded target there's a lot going on here. 4.2% distribution, and a lot of different ways to win. tourists are coming back to coastal cities where simon tends to be concentrated they own 200 of the best retail properties in the world, quite frankly, and they're poised to reap that benefit. they've also bought a lot of companies, retailers, during the
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pandemic for pennies including brooks' brothers and it is now going to become a profitable enterprise for them. i really love the stock. i am staying with it i think it goes much higher. >> all right steph, aptv, all-time highs, back to the ipo. >> yeah, it is a great company, it is on auto parts, auto technology company, number one in its industry. they're outgrowing the market by double digits. they're taking share, they've had a strong balance sheet they lowered guidance already because of supply chain, so i think the setup going forward is favorable as the supply chain eases for them >> good break-out stock lately, netflix, degas, all-time highs back to its ipo. >> yes so ultimately what they added, they added 4 million paid subscribers during the third quarter. so also they have content, they have the global growth so this netflix is on a tear right now and will continue. >> okay.
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home depot is trading at all-time highs, doc. >> yeah, and there's bets that it goes through 385, scott they were buying 375s, they bought 380s, 385s. earnings, the middle of november i think, scott, around the 16th. i think these guys are going to put up some astonishing numbers, and they just did that deal, i believe, with walmart to go or something like that for delivery of product and so forth. i think that can only help them. >> all right degas, why don't you give me a final trade. >> manhattan associates, supply chain software this is going to be able to solve the bottleneck in the supply chain >> okay. there's that stock getting a little bit of a boost. stephanie link >> mattel, the company beat and raised last week, the third team this year. gross margins held steady, gross billings up 11%, trades at 13 times earnings i like the story
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>> dr. j >> cvs, scott. i bought the 87.50 calls that expire friday because of unusual activity at higher strikes, i like this one going into the end of the week. >> sounds like crowdstrike is you, josh brown. >> yeah, new record high for crowdstrike today. what more can i say? top billing. >> yep all right. good stuff, of thanks everybody "the exchange" starts now. thank you very much, scott hi, everybody. i'm kelly evans. ahead on "the exchange," another day and another set of record highs for stocks with earnings season off to a pretty good start, consumer confidence bouncing back. the housing market is still strong and a potential stimulus deal, do the markets have a green light for the remainder of 2021 plus, the debut of our earnings exchange today. as the season ramps up we have the action, the story and trade ahead of three key reports tonight. microsoft, alphabet and robinhood. with the white house looking fo


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