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tv   Fast Money  CNBC  August 30, 2022 5:00pm-6:01pm EDT

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>> that's true, but i would argue stocks are going down on an increase in fed credibility. inflation is way down. it is back in the zone of their target. that, in itself, is not helping the near term for equity market sentiment. >> they have helped it with their talk, let's see if they continue with their walk. that will be what can matter most. i will see you tomorrow. fast money is next. right now, and fast, a three-day major losing streak, all ahead of what is the worst month of the year for stocks. plus, drop at the pump. wholesale gas prices at their lowest level since mid february. for consumers, prices are almost a $1.20 below the peak. later, digging into the best buy bounce. a major wall street firm getting bowled over by a bolero.
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i have the details on that one. i am melissa lee. this is fast money. we are set to roll a perfect game tonight. i know, we can't resist. tim seymour, courtney garcia, and guy adami. we start out with clouds hanging over the markets. tensions between beijing and taiwan escalating again, news of that seem to send markets in the u.s. sharply lower. then, there are the looming energy crisis in europe. the region has turned to an unlikely lifeline, china. and of course, the fed. expectations for continued rate hikes sending markets down for a third straight day. the s&p has retraced more than half its gains since the june low. it is down nearly 8% from its august highs. take a look at some of the big tech stocks that have had big losses. apple down 10% from its august peak. microsoft dropping 11%. amazon, more than 12%.
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as we head into september, that is, historically, the worst month for stocks. does this give you pause for even more concern? >> we were warned, folks, about potential metaphors and analogies. anyways, be careful. as much as i am concerned about china and taiwan, that is not what the markets were worried about today. the markets were worried about a combination of the message from friday. how about this jolt status? it is, basically, job openings. it doesn't really matter. the point is, there are so many more job openings than there are people to fill them. we have a payroll number on friday, and some cpi numbers across europe and china over the next couple of days, that is where the markets anxiety is. if you look at it a year ago, did you know that the two year rate was at 21 basis points? it is now at 346 a year later. that gives you some indication
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of where the economy is, based on the shape of the curve. it was 125 basis points a year ago. it is -36 and counting. i think today was all about reiteration of interest rates moving higher. equities don't like that. as much as i think geopolitics has something to do with this, this is what we are concerned about. >> it underscores the notion that inflationary pressures will remain. wage pressures will remain for corporations. that is something that the fed might have to work harder to tamper down. >> economists will tell you that the stickiest parts of inflation are wage inflation. i think that will correct itself , as soon as the unemployment rate start moving higher. that is the one piece of the puzzle that has not jibed with a lot of the negative data we have seen. you just said that the s&p is down almost 8% in the last 10 trading days. we have had four moves of
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greater than 10% from a relative high in 2022, averaging about 13% lower. here we are, down about 7 1/2% from those recent highs. if you think about all those things that are weighing over the economy, they are obviously weighing over the stock market here too. i would say, it is not done yet. even though we have retraced 50% of the move off the june low, i think, if you think of the stock market as a market of stocks, well, the news for individual companies is about to get worse. it is been incrementally bad all year. the stock market has been discounting that data as it is careening lower. we had that rally when people thought the fed would change their tune. that is not happening. if the economic data continues to get worse, which will cause the earnings level to get worse, why the s&p should not go back to those june lows. >> we just heard tonight that snap is about the layoff 20% of its workforce. even more pain coming. we continue to hear these dribs and drabs about layoffs and job losses that have not hit the
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numbers yet. >> yeah, and i think we have talked about this previously, but where a lot of those job losses are happening are big tech companies. those are things that are selling off the most right now. they started to recover a lot when things were recovering over the last two months. we were saying, that would not last. i would proceed with caution there on some of your larger technology names. i do think these are going to be the ones that are feeling the pain, as inflation is not coming down as fast as people would want. >> guy? ken pointed out how far we have come in far of the two year yield? why are you laughing? >> i missed you. >> i missed you all. from the bottom of my heart. i'm so glad to be back. but, a lot has changed. especially, in terms of the context for a potential -- if you are a bowl, and you're hoping there's going to be a big move higher in tech, or if that is going to be the back
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mound of the market, the rate drop in and of itself is completely different this time around. if you are hoping for some sort of revival in some of the lower quality names, that's going to be hard. >> that is exactly right. since you started with bowling, i will throw out one more bowling metaphor. it coincides, oddly enough. when i was a kid, there were no bowling guards in the gutters. in other words, if you were lousy, you were throwing it in the gutter. then, some genius came up with the idea, maybe we should democratize tolling and put these gutter guards up, so everybody thinks -- you know what, the gutter guards are down, mel. now, everybody is seeing what a miserable bowler they are. your backstop is not there. i think you make a great point. two year yields will continue to go higher.
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but, i will say this, so it is not all doom and gloom on this thursday. the hyg did not get cratered today, and the vic, surprisingly, close unchanged. by the way, today's low was basically a 50% retracement of the recent low in june, and that high we made a few weeks ago, north of $4300. back to you. >> it is a 50% retracement of the 50% retracement from the lows? is that right? >> that's correct. >> i just wanted to underscore that. >> there are certain parts of the market that have, in the first moves lower, we spent a lot of time talking about apple. weed spot the fundamentals about apple. if you look at apple over the past couple of days, the move over the last three or four days has been more aggressive.
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google broke its 50 last week. microsoft, last week. if you look at where that safe haven dynamic of the market has been, that, to me, will be interesting. i think market participants have had a chance to test some of those key levels. i get the sense, again, and i say this a lot, i think the hedge fund community is cashed up. they have significant exposure in terms of the short side. i think they are going to want to push some levels, and i think that is something to watch. >> at the top of the show, we cited the moves in big cap technology, specifically. the perceived names selling off from recent highs. is the take on that that we are just selling winners, at this point, to cash out, to get defensive? or, that whatever is coming is going to hit everybody just as hard? >> you can say that. if you talk about energy stocks, today, the stock market acted horrible with the best acting sector acting the worst. that is not a great sign.
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utilities started to act very poorly today. what we have seen in past periods, where we have had these big downdraft, and listen, we mentioned this all year long. it has been a very orderly selloff, until it is not. the last week or so has not been orderly, if you think about, since mid august, we have been down 8%. earn. the s&p went down 12% in what felt like a straight line. in some ways, you have to be careful when the market starts to get quiet. that's when all of these things start to come together. if you talk about rates, the two year is breaking out now at 346. again, guy makes a great case. if the tenure goes lower, it is not good for stocks. it's more reflective of the growth environment, which will weigh on corporate earnings. again, i think we are going into a period right now, the last month of q3, where q3 is up, believe it or not, even after the performance we had in
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august, so far. i think we will start hearing some negative announcements. i think we will hear companies taking big chops to employment, so they will have a better story when they report q3, talking about how they're trying to rationalize expenses. >> we are several weeks away from the fed announcing what they are going to do with the next rate hike. i think that is, arguably, what the markets are most worried about right now. i think we will see some chopping trading between now and then. i think that really is the reason. why is big tech and energy down at the same time? interest rates increasing will affect the big tech firms, but it will reduce demand going towards energy. it is the same cause driving both down. i, likely, think that is something temporary. people aren't stopping to travel. we are going into the winter season. i would look to buy into energy as an opportunity. on the technology front, i think that is a longer-term story. >> let's stick with energy
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prices. before russians invasion of ukraine. for more on where prices are headed from here, let's bring in patrick dehaan. patrick, great to have you back. >> thanks for having me, melissa. >> how bad will things get in your? >> i think we are at the tip of the iceberg here. supplies are still constrained, obviously, because of russia's invasion of ukraine. oil prices today, plummeting on economic concerns. there are a lot of different factors that are going into push the market up one day, down the next. a lot of challenges coming. prices likely to remain extremely elevated, especially, as it gets colder. >> here in the united states, our audience plus we have a global audience, but mostly in the united states. how does that impact the audience at home? >> when you talk about natural gas prices that continue to flirt with $10, it will be an extremely expensive winter,
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whether in the u.s. heating your home. i think more americans will go back to an office just to save on heating expenses. a very constraining winter of broader energy. keep in mind, this could pull the price of oil or diesel even higher. we're talking about shortages and power in europe, in china, shortages of coal. >> patrick, it's also very bullish for the u.s. scale. that part of the chain, especially, as we see gas coming off our shores and going to europe. is this the reinvigoration of a trade that over here, five or 10 years ago, was really a place to put a lot of money, until a lot of these companies grew too fast? in fact, it was an awful place to be, because the balance sheets blew up. >> there are a lot more challenges with ramping up this
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quickly. a lot of this was brought in by covid-19 and exacerbated by russia's invasion of ukraine. there is just no way we can bring enough new supply on quickly as we need it. especially, with opec and saudi arabia. when it comes to natural gas, this is going to be a multi- year elevated pace of prices. that could carry with it, a higher price of oil. diesel prices, now starting to go back up. consumers are the only ones starting to see lower prices at the gasoline pump. that will be offset by natural gas prices through much of the winter. >> sorry, go ahead. >> i apologize for go ahead. >> these are the joys of working remotely. maybe i will come back to the office more often. i was going to ask, patrick, in terms of december 5th, in terms
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of the european band, how do you factor that in? is that a foregone conclusion in your forecast? in urinalysis, where does that stand? >> alyssa, i will color it this way. i would be surprised to see if the eu remains one over the course of the winter. over the course of those coldest month, seeing all the country still going along with this. i think it will be surprising to see the eu not fracture over the winter, when things get really cold. this will pull natural gas prices higher in the u.s. certainly, the sky's the limit when it comes to natural gas, and it will probably remain that way well through winter. >> patrick, thank you so much for your analysis. guy, if we are talking about
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the energy crisis in the united states, there would be people in the streets picketing. it's going on in europe, right now. >> it's real what is going on in europe. it is tragic, actually. people have to make decisions, at some point, whether they will heat their homes or feed their families. that is not being hyperbolic. that is what is going to happen. with that said, obviously, we will not face the same dilemma, but what i will tell you is, the supply demand fundamentals still lineup for crude oil and energy to go higher. despite today's move, and again, maybe i am being a bit too dogmatic in my views, but i think it goes higher from here. >> i think it goes down to -- tim and i have talked about the stocks, and how the companies are operating so much better in this environment, but when you think about their contributions to s&p earnings, and what that has meant this year, we have been waiting for earnings downgrades.
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that has not happened yet. keeping them buoyed here, again, i have to mention, today's price action in crude and the subsequent move in stocks could be really telling for what we are in for chit, especially if crude were to go another leg lower before some of this stuff is really apparent about the shortages in europe. coming up, chaos in the car market. what record low levels mean for investors. we will dive into the auto trade ahead. details on the quarter, next. next. stick around. with billions of passengers taking millions of trips every year? fast money. >> this cnbc program is sponsored by ibm. ibm, let's create. now you can ts so they don't bring you to a grinding halt. and everyone's going places, including you.
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welcome back to fast money. van heusen and calvin crying dropping. >> hi, melissa. pbh reporting $2.08 adjusted earning. revenues did, but light at 2.13 billion, down about 8%, year on year over total.
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margins fell about slightly. most of that was from a negative currency drag. it is really the guidance, i believe, that is hurting the stock. the current quarter revenues are forecast to fall between 4% and 5%. it's earnings forecast, that is week two. whether you exclude russia or include russia. in the second quarter, tommy hilfiger's global revenue fell 12%. calvin klein fell 2%. the u.s. is still plagued by supply-chain issues. overall, inventory of about 19%. direct to consumer, down 5%. digital, down 7%. the international apparel player, cutting 10% of its global workforce as it works to streamline the organization. as you mentioned, trish donnelly, ceo of calvin klein global is also leaving the
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retailer. >> inventories are up 19%? is there any indication they are working that down? how does that happen? often times, you find these brands in a department store or another seller. for them to have the inventory implies there is some sort of backup on that chain. >> exactly. they listed three different reasons. part of the reason why they are up 19% is because they were so low last year, when everything was stuck, basically, in the supply chain. the comparison makes it look worse than it is. they are also think, we did not sell as much as we had hoped to in the americas. lastly, we did bring in some of that inventory early for the holiday season, because we don't want to get caught flat footed, where people are looking for our goods, and we don't have them to sell, which is what they say happened last year. >> courtney, thanks. it seems like we might have a lot of these weird inventory lips as we go into the holidays. how do you interpret the
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quarter? >> flat-footed, or just flat. going back to pre-covid, this is a company last quarter that was down about 3%. there is not a lot going on. inventory levels higher. let's be clear. a demographic and a target consumer group that is not high- end or as high end as some of these brands might've been at one time. they are under more pressure. some of the same retail trends you had it 30% rallied off that bottom. the stock looks like it has more room to go back down. >> neither the high-end or low end is what they have in the portfolio. it's the middle. >> we saw that when walmart earnings came out. you saw people making over $100,000 a year shopping at walmart. they are getting squeezed by inflation. they can choose what they are spending their money on. that is what makes retail so
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tough. that's probably one of the easiest things people can cut right now. one of their benefits, compared to their peers, was the fact they were doing a better job of inventory levels. seeing that 19% increase, that will be interesting to watch, because that could take that away from them. >> let's move onto a pair of tech names. let's get to steve kovach with the details. >> let's start off with hp. it was a revenue miss, $14.6 billion versus $15.17 billion exactly in line with expectations. it is lowering guidance for the fourth quarter sending shares down about 4% here in the after hours. onto hp enterprise, revenue, a slight mess. $6.97 billion expected. we have two different tales of
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demand. hp ceo, enrique lores, telling me that print demand is falling. saying the slowdown accelerated throughout the quarter. that has been echoed from so many this season. it is a different story. demand is strong and steady despite foreign headwinds. by the way, jim cramer will have enrique lores on mad money next hour, to go over the hp results in detail. >> actually, it was surprisingly good. i'm surprised the stock is higher right now than it is in the aftermarket. $12.40 was the recent low. you can wrap your head around valuation. listen, they are saying similar stuff to what microsoft said. i think you can be long for a
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trade here. >> the hp kind may not have come as a surprise, given what we have heard from other tech companies. >> sequentially, down 4% revenues. if you talk about their guidance, and what they have to say, it's not great. just peace that together with what we have heard from salesforce and dell. i suspect, as we get into this last month of the quarter, toward the end of it, we may see some soft downgrades to guidance. maybe it is a conference season. i think there are a lot of tech conferences that go on through september. i don't think any of these companies like to come out and drop the hammer and throw the kitchen sink. i expect death by 1000 cuts as we get into q3 earnings season. >> at least, not death by sledgehammer. they are not telling you that that core customer base, especially for hp, is very important. this is a company, what do you want to pay for a computer
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hardware company in the middle of this environment? it's five times earnings. it's crazy. i'm just not sure that multiple needs to get any higher, even if the environment is not that bad. >> there is a lot more fast money to come. here is what is coming up next. enormous amounts of cash. that is what one automaker ceo says. we will drive into the auto trade, next. later, grab your best bowling shirt. j.p. morgan sees one big bowling company rolling more than 50% higher here. is this name right up your alley? stick around. we will knock down all the pins on this trade. you are watching fast money, live from the nasdaq market site in time square. we are back, right after this.
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welcome back to fast money. shares of electric vehicle makers falling sharply today, announcing plans to issue up to $400 million in new shares. come the day after lucid declared the intention to declare $8 billion in new stock over the next three years. mark field is a former ceo of ford and hertz. welcome back. great to have you. it seems like it would be a very difficult environment for a company that is in need of cash at a rising rate. >> yeah, well, there is an old saying, how do you make a small fortune in the car industry? you start with a large one. if you look at these ev makers, that is a very capital intensive business.
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they are trying to learn how to get over the production curve. the bottom line is, when you look at the cash levels, whether it is a lucid or nikola, they are all saying, we are good through the end of 2023. the question is, what happens after that? the question is, can they get profitable cash flow by the end of 2023, in a market where you have rising interest rates and consumers being somewhat stressed? they will be first to raise money. you mentioned some of the automakers that of done that. they will have to continue to do that. >> do we see a shakeout in this space, with some of the smaller or newer players? either going private, getting bought, et cetera? >> i think, with some of them, it is still too early to sell. they haven't even launched their products yet. i think, obviously, a maker
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like meridian has over $15 billion in cash. they have huge investors, like amazon, with 100,000 vans on order. they are fine. some of them, as they start producing, and as they start sink demand for their product, or lack thereof, you could see some shakeout here, as you said. either some going private, or some getting absorbed. >> any predictions on that? >> well, you know, i would say, it is a little bit of a poker game right now. i think, when you look at the amount of money in private equity that is available, i think there will be plenty of opportunity for folks that will have discussions with some of these automakers. if you think about it, the reason some of these smaller ev makers went public, is because they needed the cash. they needed the equity, right? maybe banks were willing to go above certain levels.
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those needs are still going to be there. the question is, will folks want to buy their stock or, are there opportunities through things like private equity? >> mark, you expect auto demands to remain strong, even if there is a downturn. i'm wondering how rising financing costs to the consumer play into that? we were just remarking earlier, just a year ago, the two year yield was at less than a quarter of a percent. it is now 3 1/2%, effectively. how does that work into the equation? >> it is a very unique time. in normal times, if you look at the average loan rate right now, it is over 600. that's like a mini rent payment. when you think about the rising interest rates, that really pushes the margin out of the market. clearly, it puts pressure on
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that. i think the difference, in any other downturn in the past, you have the automakers, who have -- basically, they had a 20% drop in volumes over the last two years because of the supply chain issues. that is about the same as any recession in the past. you could argue, they have already had that. i think the biggest thing is there dealer networks, their stock levels are about 40% of what they normally would be. i think, as we go into a slower economy, the automakers are still going to do relatively well, because they will have to produce and restock their dealers. of course, that is when they book the revenue and the prophets. >> the marginal demand will remain high. it seems like it might be a little easier -- maybe you are not waiting as long for a new carpet are you still waiting as long for a rental car? it's hard to get a rental car these days. >> listen, the production
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issues are still reverberating through the industry. you see that. some automakers announced some downtimes. it's not only semi conductors. it's a number of other parts. i think the other issue facing consumers is, because the automakers are trying to be judicious with the number of chips they have, some of their vehicles don't have some of the features that some of these current products have. for example, they may not have a heated steering wheel or heated seats, because they're trying to conserve those chips. overall, i do think the demand is still there. i think the real issue is the demand going forward for electric vehicles, particularly, as you see the price increases that the automakers have just announced over the last couple of weeks. >> mark, thanks. mark fields. >> thanks, melissa. >> as long as the seat has a
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massage function. i've never thought about those features. it's interesting, the trade down that consumers make with their vehicles. >> back to the point mark made about how you make a small fortune by having a large fortune. rypien may be the best capitalized, and has the best partners. in the case of amazon, you have a partner that is strategic. they are a key part of amazon's future. they are going to burn 5 1/2 million dollars this year. by the way, that number has gotten worse from expectations. they were about 4.7 billion two quarters ago. that story is an interesting one, but not one that gets better soon. >> i'm still trying to figure out the massage function in cars. clearly, my 2002 tahoe does not have that function. >> they have massage seats. i don't have a car. i don't know anything about cars. >> i will tell you, every once
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in a while, there is a tell out there in the equity market. maybe i am just wishful thinking, but the fact that neil closed slightly higher today is encouraging. listen, you take the china numbers with a grain of salt, but july, they were up 27% in terms of deliveries. that's a good thing. i'm hoping that the trade showed me something on this tuesday, not thursday. >> you know, i have talked about this previously, but i would go with some of your old school -- like ford and gm. they are much better at playing this. ford is starting to cut employees because they are focusing on electric vehicles, but they are going to be able to weather some of these downturns and offer a wider array to a wider selection of people out there. i think that is the way to play this. >> coming up, we have a traders choice for you. four stocks our traders are watching, and how to play them.
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welcome back to fast money.
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check out bed bath and beyond losing hold of early gains to finish the day down more than 9%. the company is expected to announce a plan tomorrow to turn around its business and win back investor confidence amid a major cash crunch. there were some very bullish bets made by options traders. >> relatively small company, compared to active stocks. this was the fourth most active single stock option come with a market cap of less than $1 billion. the other 10 most busy single stock actions are close to $1 trillion. the busiest options were the weekly $15 strike calls. we saw almost $39,000. they are betting that the stock and regain some of the mojo it had earlier this week on the back of tomorrow's news. busy too were the $10 strike puts. >> so, action to the upside.
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action to the downside too. where would you place your bet? >> is that me? i'm sorry. i would say, lower again. i think the bloom is off the rose here. this has been a failing business for quite some time. tim will point out, this is where i buy my potpourri. that's true. guess what? you can only buy so much potpourri before you do something else, and i think that is what is happening at bed bath and beyond. lower. >> it depends on who you are, and what your love a potpourri is, 10. >> a scented candle gets me through the week, but not enough. the debt restructuring , to me, is the big story. >> mike, thanks for that. for more options, be sure to tune into the full show. that is friday at 5:30 eastern time.
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>> is best buy bucking the trend in the overall market? we will dig into that next. plus, a few standout moves from today. don't go anywhere. fast money is back in two.
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welcome back to fast money. check out shares of best buy managing to hold onto gains, despite the company's sellout. sales fell less than expected. they came out at the end of july, and said things would be terrible. they have lowered expectations. >> they set the bar very low, then, they removed the bar. they said, that guidance we gave you earlier was pretty interesting. on some level, the company is getting rewarded. their execution in the second quarter was excellent. their inventory levels are awful. what is concerning to me is that they talked about promotional activity, and where this is going. you are ahead of 2019 levels, on promotional activity. hang in there, folks. you will get a very cheap tv
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for christmas. >> thank you, tim. >> you are welcome. i like when the geek squad guys come over with me and hang out and watch football in the afternoon. >> that's weird. do you like best buy? >> i do. i think there are some concerns. i think the inventory levels were better than expected. the problem is, you have all of your competitors who are starting to put promotions on their products. to compete, they will have to put promotions on theirs, regardless of what inventory looks like. we are coming up on the holiday season, which is the busiest for best buy. people will really start to feel some of that. i would proceed with caution here. >> guy? >> i think best buy goes lower from here. to me, this is a relief rally. the trajectory has been upper left, lower right. there are people like me who go to best buy and take notes.
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the pull forward is there. i think the stock is lower from here. >> he's the guy sitting on the leather couch in the theater section catching the movie he didn't catch. >> anyway, coming up, our traders choice. they will break down what the moves will mean, when fast moy tus.nerern so you know all you need for recovery. and you are? i'm an invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.
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welcome back to fast money. we are back with the traders choice. more of today's movers. first, snap dropping late in the day. it plans to lay off 20% of its workforce, or about 1100 employees. the company has been making plans for cuts for the last several weeks. layoffs are expected to start tomorrow. dan has been watching this one. >> listen, it's been a good trading stock. i have a longer-term view. this cut is likely to proceed a very disappointing q3 and q4. stocks down 80 percent. it doesn't mean a stock down
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80% can get cut in half again. to me, i do think it is an interesting set up. i think you have to be prepared to buy it lower, possibly, much lower. >> your long-term view is positive? >> yes, i bought it at $12.80. it went up to $16 and got all the way back down to nine dollars. think about the volatility in a name like that. there is also the potential for it to move up 50%, or even double. next up, netflix down close to 2% today. it's new app will cost between seven dollars and nine dollars a month. it has not made any price decisions yet. courtney, what is your take on this one? >> we saw some optimism when the news came out. maybe they won't be stalled with this $220 million. right now, they are competing with disney plus. they keep adding subscribers, whereas, netflix isn't. they need to do something to bring in more customers right
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now. until we see that, there is probably more downside here. it will be interesting to watch that. >> to me, it's a story i think you -- look. the environment here is very difficult, but i think, if you expect streaming to be what it's going to be, the tailwind is there. we just got those data points on where streaming is ahead of tv, in terms of engagement. i think the reset on expectations -- we said this even after that second backorder in a row. i think it takes a little more time. uber on pace for its best month since 2020. tim, this move caught your eye. >> it did, because again, often, they are compared to each other. huber tends to be the super a.p.t., versus lyft, which is only ride-share. it outperformed by 39% in three
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months. that kind of favors lift. they are ahead of their second quarter. their driver supply is better. asp's are better than expected. look, no matter what happens in the fall, with inflation, the fed, and whatnot, people are going back to work. i think the low point for these folks, especially of drivers supply becomes better, is a trade. lyft has radically outperformed uber. finally, the treasury bond eking out a small gain today. down almost 4% as treasury yields kicked higher. guy? >> around halloween of 2018, it traded down to $108, and bounced significantly well. look at a chart and see what we recently got down to. a decent double bottom here.
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the countertrend, the non- consensus trade is 10 year and 20 year yield will go lower. i think that can happen with the softening of data. i think you can buy tlt betting for lower yields for a trade here. >> lower yields, meaning also lower banks? dan? >> i think so. guy laid it out pretty clearly. lower 10 year yields are bad for growth. they are bad for banks, because the consumer is going to borrow less. it's not a great set up for the banks. j.p. morgan is telling you that. they are saying, watch that level, if it makes new lows, soon, the market is falling. stkethe one stock that could be a ri for your portfolio. a ri for your portfolio. your final trades are ♪ heat makes it last.
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or in another room taking up space. it's just you and your people. because why would you ever share your vacation home with someone you wouldn't share your vacation with. ♪ ♪ welcome back to fast money. check out shares of bolero, rolling higher today. j.p. morgan singh, the bowling company could surge more than 50%, as demand for events increases in a post-pandemic world. analysts calling this, the magic of bowling. is this a strike?
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or, heading for the gutter? is this up your alley? >> you didn't just do all that, did you? that is well done by you. absolutely. we, actually, before the show, we had a conference call, and we discussed a fast money fall bowling event. i'm sure we are not the only ones. i'm with j.p. morgan. by the way, earl anthony mentioned earlier, it is different than earl from match game fan. back to you. >> thanks for that clarification . america was wondering about that one. we were discussing bowling, and dan was saying, why would you put your fingers in a bowling ball? >> i haven't put my fingers in a bowling ball since the 90s. >> do you roll it between your legs, real slow? >> tim, you went bowling just this weekend. >> i did. >> i loved it. i pulled a couple of muscles. that deep lunge -- the food
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didn't go so well. j.p. morgan calls this one an economically attractive industry. maybe i am missing something, polyester shirts. >> we did a fast money christmas party bowling years ago. you remember that? >> karen dominated. no surprise pretty dominates most things she does. by the way, be sure to turn in tomorrow. the bolero ceo, tim shannon, will join us. we have so many questions. that is tomorrow, 5:00 eastern here on cnbc. let's go around the horn. >> palo alto networks, and what was a good crowd strike report. >> ag healthcare had been a gutter ball in that market over the last six weeks, and is now underperforming. >> i would continue to look at those energy pullbacks as an opportunity. i think it's a good way of
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playing that. >> this is a really interesting time, i think, in the markets. like snap, you want to see them being aggressive with cuts. two down, maybe four or five up in the near term. >> did you wear shoes when you went bowling this weekend? >> don't tell anybody. next time i go bowling, i'm not wearing the shoes. >> >> i am here to level the playing field for all investors. i promise to help you find it. mad money starts now. ik, i am kramer. welcome to mad money. i am just trying to not -- put this one in context. it is getting nasty out there. call me, one 807 four three
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cnbc. we are witnessing one of the wors


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