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tv   Fast Money Halftime Report  CNBC  July 13, 2021 12:00pm-1:00pm EDT

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by platform hbo has 130 nomes. indemnity flicks one behind at 129. quick joining the front runners nbc then apple, cbs, hulu and abc, amazon last with only 18 nominations. the only streamer to win best drama is hulu for handmaid's tale let's get to the judge. >> thank you welcome to the "halftime report" what to do with your money as stocks at record highs earnings taking center stanl as jeffreyy segal joins the show. josh brown, pete najarian, good to see everybody checking the markets backup a good day shaping up on the program. talking about a lot. the nasdaq, new high s&p 500, new high as well. tech, health care, discretionary, all record intraday highs josh brown, apple trading near
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all-time high. alphabet all-time high starbucks which you own, target pepsi, start with starbucks and the overall theme today of all the stocks and the sectors hitting new highs. >> i think the overall theme is niece are quality companies with incredibly strong balance sheets that are growing in a secular fashion and do not required continued assistance from the federal reserve, the ecb or bank of japan that's the story here. these are big, global companies with brand loyalty from consumers, tons of innovation. they spend on r&d, spend on buybacks, spend on dividends, also on capex. they can do it all if you abandon those to start buying coal mines because the 10-year treasury went up maybe this is a teachable moment that hopping from foot to foot between cyclical and growth is
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not a good strategy. owning good stuff is a better strategy even if there might be a countertrend here or there that you content quite capture all of it you don't have to. it's unnecessary when look at my portfolios it's the best companies doing the best that's intuitive, how it should be look at semis today, not just apple, microsoft at all-time high two of top performing s&p 500s rb the apple and microsoft but the almost to a man look phenomenal target at another all-time high. great job, pete, one of the biggest winners eve seen picked on the show. target continues to roll the cyclicals are having a tough time with delta. people don't want to only them as voe joie de vivre as you op free porpt, boeing, amgia, caterpillar. one thing worth watching i'll eu talk about bred from
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internals all the time not great right now. only 56% of s&p 500 are above the 50-day it's short-term, very noisy. but something to keep an eye on. you don't want significantly more deterioration there outside of that, though, i think you can own good stocks. i think you're doing just fine. >> okay. nice shoutout, pete, on target we mentioned starbucks all time high you bought starbucks calls talk too many about that because we get to interesting moving after there we finish that. >> well, sure, as you know, scott, i look constantly and look at the unusual option activity and that's part of what i do on top of that a lot of the times you look at the story line hend it, the charts and all that comes into play. a starbucks continues to be starbucks. and it was just said well by josh brown, these are quality names. the quality names are the ones
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winning out. not only winning out going to all-time highs and exploding through the highs. i think stuhr bucks is interesting because of the fact that every time i go buy one, boots on the ground, there are lines of cars again. it's like raising kanes, all the other places where there is line a cars starbucks is one of those. they continue. i heard jim cramer bringing it up the cold drinks, they have so much success, the cold drinks, not just about a hot coffee. so when i look at this and see the unusual option activity, the second i see that i know enough about the background that i buy the calls. i am in the july 1919 calls right now in starbucks. >> you know, i mentioned the other moves you have, pete they're eye openers in terms of what you're seeing in technology, which has been red hot of late. i mention the naz, 1090 as well. hitting new highs. you bought snow flake calls, interesting because you've had
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issues with some of the really high valuation stocks. microsoft you bought new calls there, a company you loved a long time. apple, calls are new you've seen amazon calls you recently bought oracle calls and recently had bought apple calls too. but this is more just tell me about this. >> well, you know, last tuesday when i was upon here one of the things i brought up out of the gate was the fact that the first four unusual activities we had on systems they were all huge, all in technology. and there was names like apple, amazon, nvidia, many of the names have played out nicely then i i came back on thursday with you apple got slammed from the downside 145ish to 146 down towards 141, not unusual there but so much coming into it, scott, i was confident i thought that we'd a very quick rally to the upside that's what i think we are seeing today, not only the rally to the upside they continue, the
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monster option activity we follow continues to come into these names. i love having stock already in apple. i can trade around it with the calls. noirkts, same story. i look at a lot of these as opportunities. amazon is another one where i think there is an opportunity there. so difficult at these price levels even with the options sometimes to get in the names. but you brought up the high multiple, no multiple names, snow flake, great example, right? i'm willing to trade the stocks with the derivatives world of options. i just don't want to be in the stocks themselves. very much like the same i feel about chinese names. ip love the chinese names but i will only be there with the options. i don't have comfortable with the stocks right now so i will trade around that and we are seeing incredible volumes today in all of these different chinese names hitting the unusual as well. whether it's, alibaba or baidu, jd, we are just seeing all the
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option paper that is just flooding in. by the way, the derivatives markets still remain on fire we had a pause on monday but friday, again, pushing towards that 50 million mark on a fairly consistent basis upon a day in, day out trading, definitely over 40 million so the option world is certainly exploding, scott, as we have gone through not only the pandemic but now post-pandemic moving forward. >> pete, i mean the pollone is flow flowing into tech where the action is. i'm looking at the latest bank of america fund manager survey results, too tech increasing -- long tech is the number one most crowded trade. it's the fires time we have seen that since april tech exposure continues to increase in july it's just playing right into the themes of where you see the most option activity as well, pete. >> yeah. yes, absolutely, scott when i say big, i do mean extraordinarily big. i mean, like today for instance
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with apple, and we've talked about this name the last two weeks we've had almost every single day huge massive options coming in there. today they bought 17,000 of the july 23rd expiring, giving you two weeks, 148 calls, gone up to the 149 calls, the 152 calls the last couple weeks. they continue to come in with very large option paper committed to see that this stock is going to break through to the upside we'll see. but we continue to see it there, continue to see in in amazon while we see the option paperly follow. >> stephanie link interesting moves from you today a we need to tell our viewers about. you bought more expedia. and mcdonald's amazon. >> you want to be diversified i totally agree agree. you want cyclical exposure because the economy says stronger for longer but you want
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secular growth companies with total addressable markets. you mentioned it, scott and pete did a great job and josh in terms of explaining what's happening in the technology area the xlk up 17% op the xl up 16%. the xle, the energy etf is up 38%. so it's not too shabby that sabtly speaks to my mountain you want to have this bar bell at any given time you can be tactical i'm weighted on the cyclical side because i think the earnings will be phenomenal and i have plenty of exposure on technology as well well expetitionedia trades in the xlc, the comp comp services one reason number two, i want to be part of reopen trade i sold marriott made good money. didn't want to get out completepy it's a reopening, restructuring, cost cutting and bary diller halo as the chairman i like the reopen stories travel
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and leisure too. emerson is a hidden energy play, lagging other industrials. they have new a management team. making asset sales, doing m&a at the same time. 15 billion in free cash flow and nice dividend. and they have a technology component too in process automation totally overlooked in my mind. and mcdonald's has done a great job in the closure because they simplified the men ewe but good growth for the reopen, drive through, indigent, in terms of delivery pb now 75% of systemwide sales there is a lot of ways to win. a bit more defensive but they represent diversification. >> slb, a great gain in now is the time to take some off the table in. >> yeah, i'm still overth. i like what they are doing just a month ago they raised guidance up 130% when i first started buying and i put it into emerson because that's the hidden energy
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play that hasn't depreciated >> bringing me to the sniper jason snipe. second day in a row, disney, makes to the top of our prange program, janz, yesterday farmer jim bought more and today you bought disney too. >> you got it. i was waiting for my wim to get in farmer jim pushed me over the edge but, yeah, disney is just a great company obviously. they've done very well last year was explosives on the dtc business, obviously slowed some since but i love what they've done in terms of managing expenses and restructuring the company. i don't think that was talked about enough it's been relatively flat for the year, obviously a nice jumped yesterday, up over 4% i think there is a lot of growth here, a lot of runway as the begly sis could comes back online. >> disney was reited overth at stoob stand morgan stanley
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10% upside from here and even jason i don't know if you heard kramer talk about it, the evolution of his view on disney over let's say the past four or five weeks or so started to get a little down on the company, a little down on the performance of the ceo and said as much on the network. i'm not breaking new ground. came out of jim's mouth on this network. today said he was getting a little more positive pop chapek, the ceo doing a good job and facts have changed a stock with a massive move and then had a bit of a pause, you feel is ready to move back towards the $200 level i think that was the peak. it was around 200. >> yeah, i agree i agree with jim's points here i think they have pricing power. they obviously raised pricing on they are espn plus business. i think -- i just think there is
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a lot of opportunity with the stock. and, again, it hasn't done much this year. but i think there is continued movement as we see some of legacy businesses come back online, i think they'll see that as additional catalyst for the name. >> i was also curious, josh, in looking at disney and looking at the performance of the stock and thinking about jason's move in context of what farmer jim told us yesterday i looked at live nation, which was a pick of yours, and had a massive move just like disney and some of the other reopening stocks did but i noticed the stock is a zero the last three months, hasn't done anything i wonder why you think that is >> well, imi don't think it's like out of character for any stock to spend time not going anywhere i think one of the things that's affected all of the reopening -- the quote, unquote, reopening-related stocks is just the fact that we have the increased infection rate from
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the delta variant. people are concerned about it. we have cases of vaccinated people contracting it. and we know the vaccines aren't 10 oh% ineffective, 90, 95% effective in some cases which is good enough. but i think the market will process that and allow the stocks to rally. i think we are seeing the uptick in infection rate in clusters, tends in states with low vaccination rates, tends to be among social groups of people who think the virus was a hoax in the first place or that the vaccines are being manufactured by bill gates in order to plant chips in our blood streams that stuff is like, i don't think, going to be long-term damaging to the fact that americans and people all over the world are ready to get back out again. there may be stutter steps on the way there. there may be bouts of misinformation in the press about risks, et cetera we're going to fight through
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that stuff, because in the end we are looking at an economy in which consumers have never been more liquid and have never been more excited to get out and do things i'm long live nation, every bit as bullish as i have been since 70 i think it's a triple digit stock, wouldn't be shocked if that happens by the end of the year there will be weeks the virus reasserts in the headlines and makes people think twice about all the stocks yeah, so that's part of investing. you don't get to wake up every day and it be 72 and sunny it's not reality. >> i hear you, well said jason, you also bought more wal-mart, why? >> i did i did. so, you know, wal-mart is interesting because it lagged the market down about 2% target has peaked nicely done has picking that one target has been the darling up
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wal-mart, one think we don't talk about or doesn't get credit this year is the e-commerce business they have 21 billion in free cash flow. i think there is an opportunity here and also a play on the consumer, the healthy consumer at 12% savings rate wrb return to school, return to everything. catching a bid here. >> you for the a couple of things you sold. i'm saving those teasing a little bit and we'll get to those at some point in the program i want to bring in our headliner right now, wharton professor jeremy segal joining us again. professor good to talk to you welcome back. >> hello, scott. >> how you feeling about the market today you put news the seventh inning stretch the last time you were on, close a month ago, hotter than expected inflation read yields went higher and then reversed i've got the s&p at new high nasdaq at new high tech seems to be rolling in the environment. how do you see it?
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>> well, you know, scott i've been saying for a month that inflation is going to be much higher than what the fed thinks it's going to be i think we're only seeing the tip of the iceberg in terms of the data and the fed will have to move. but, you know, there are throwing so much money still at the economy, that, you know, it's still going to flow into stocks we're not over with the bull market by any means but the fed is going to be forced to act. maybe they will announce the taper at the july meeting, absolutely in my opinion no later than the august jackson hole meeting again there will be trimmers but the money is still coming. so -- and stocks are real assets, as i pointed out all the time it's going to still flow into those real assets. who think -- i certainly agree with many of the -- your commentators quality stocks, tech andotherwise.
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i do think that the only inflation protected yield -- because there is going to be much more inflation, is ready the dividend-paying stocks if you're into that sort of market you're going to -- they will become attractive later on you know, treasury yeah, 1.5 and inflation at 6, 7, 8, 9, bank accounts the money disappears, municipals the way same way you want in tiffs minus 1% yield if you want that income i still think that people are going to look around and say that the dividend-paying stocks are where i'm going toth doesn't mean avoid tech but it's something to think about. >> maridaly was on the network earlier, she of course the san francisco fed president, reiterated her belief that inflation is transotherer to looking at the bond market and yoeld activity, the bond market
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move, professor would suggest that you're wrong. i mean unless the bond market totally gets it wrong or yields are depressed because of all the liquidity. if the market thought that you were right, yields would not be sitting at 1.35, 19.36, having gone from 1.75 down to that level. >> remember one thing, the curve has steepened. remember, actually if i'm a long-term bond holder, i said the fed to move in a way because if they don't mow my money depreciates. if there is sort of a good bad thing if this forces them to move early, i still think the yields go up over 2% but, again, we talk about the delta variant, the treasurys are still the number one hedge short-term for investors they're willing to bite the bullet on inflation, lose value,
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as long as they have that hedge asset. there are many more things than just inflation into the long bond i think people are going to be paying the price and it's going together even more expensive later on. >> you said 2% on the 10-year. that is that by the end of the year 2%. >> i think so. because i was looking at the data, and you know, 60% of the cpi is housing according to the bls which does the statistics that is up between 2.5 and 3% from a year ago. now you tell me that housing prices and even rentals are up 2, 2.5% to 3%. it's the antiquated way they put it in the index. that's filterering into into the index second half of the year. we may have have a 9%, 10% it's already in there they can't do anything about it
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but they can stop inflation in 2022, do the taper and begin to raise the rates. i think they're going to be forced to go into that direction. >> what do you say to those who suggest you're being alarmist, professor? look at lumber. >> in what sense stock market isn't going down. >> in terms of the big call about inflation. >> there is going a lot more inflation. is that alarmist do you want to hold real assets hold real stocks. >> if lumber has given up all gains on the years. >> no it hasn't. >> i'm sorry. >> it's still up at least -- from my last reading up 50% from the pre-pandemic levels. all those have come down -- some of those, crb index and just about at the highs but they're still, 20%, 30%, 40% above the levels they were a year ago.
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>> well it's a fair point. i'm talking about the gain for the year not pre-pandemic. you're abt absolutely correct we were talking about two different things glad you noted that and we got that clear for viewers. >> we're going to have 20 peppers cumulative inflation over two or three years. could be 777, i don't know how it is and then go back down. and it will go more than that if the fed doesn't stop what i think is just too excessive monetary growth into next year they have to recognize and i think they will recognize it they're behind the curve in my opinion. >> well, look you're not the only one suggesting that by far. >> yeah. >> by far. >> and i am. well you heard m.daly. you can hear powell tomorrow, hear powell on thursday before congress say it's temporary, temporary, temporary, when the biggest item in the cpihasn't even registered the increases it should yet i mean, everyone talks about
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used trucks and cars and everything that's 3% of the index >> okay. >> housing 60% of the index appear and -- according to the bls no inflation in-housing. tell me if that corresponds to reality or not. >> a lot of people i'm are noting their head in agreement. >> pushed in that direction. >> let's play off. give you the benefit doubt you're going to be right the fed is going to move for a guy sitting here teed today and says i'm in stocks not the end fortunate bull market are we nearing the end of the wall market as a result of your view if we start tapering. >> no, tapering -- no, the only thing is if he really panic later this year or early this year when they don't see inflation going down because it's a very ininertiale pro and they say we have to stlam on the
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brakes and do a paul voelker, raise it 200 embassies something like that that's where you've got to worry we are miles away from that. >> okay. >> but that's the risk up there. is that they say, oh, my god, i let it go too far, i have to squeeze, squeeze, squeeze. a and then there is a reaction. >> you're right about that no debate about that josh brown has a question for you provese >> yes, josh. >> hey, professor. great to see you i think there is enough misinformation floating around in the ether, 24/7 in the financial media base inflation we could fill the hold of a cruise ship that's stuck at port because nobody wants to take cruises. i want you to react to this concept because i think it's your important in your book stocks more the long run which any serious investor who hasn't read this
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shuvr their head examined. it's my view the bible for equity investing for people that haven't seen the clarity you have in there of the inflation protection offered by stocks versus any other asset under the sun, including gold, i think you go back hundreds of years. >> yes. >> 220. >> these things are not playing in the same arena. the idea that inflation is the them of stocks people have it backwards stocks are the cure for an investor worried about inflation, these businesses have pricing power. they're all able to raise what they're charging users in excess of what it costs to find people. in september when the extraordinary unemployment benefit, the federal benefit goes away, we should see some tapering off of this worker shortage that's one example of several. but stocks are the right answer. stocks are not the ground zero
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for where the pain will be felt. could you elaborate that on that so our viewers have context. >> and firms have tremendous pricing power because people have so much liquidity, they say my god this went up in price, well, you know, i got the money i'm paying for it. the firms have having no trouble covering their costs this is, you know, ver different from the opec oil squeeze of the 70s where people didn't have the money and all of a sudden energy and we were a much more energy intensive economy back then, just lost purchasing power today they have the purchasing power, firms have the pricing power. they're going to pass on the price increases, and profits are going to be much stronger. i mean, i still think all the estimates are way too low going through 2021 i'm with you absolutely. and stocks are long-term excellent hedges against inflation. >> wrap it up last word,
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professor if we could. s&p right now let's call it 4,400. we're close enough in your mind what's the number for the end of the year on the s&p. >> i think -- it's another six months, we could definitely go up another 10, 15% unless we see the -- the people really worried the fed is maybe overreacting and then we see a correction it's hard to time it but i'm still in the market right now. >> frovser, love the conversation always do. thanks for coming back talk to you see. jeremy segal at the wharton school. a big interview this thursday jeffreyy gundlach. you think there is a little to talk to him about, inflation, lotes, the fed, the markets. a t more too look forward to thursday we'll be right back. to usaa gor a tow, her claim paid... ...and even her grandpa's dog tags back.
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threatening injuries. parts of pen pern penn and new jersey getting more rain as residents clean up from flash floods some areas hit with nearly 10 inches of rain the national weather service calls it a 100-year flood event. lots of post-s on social media about that. texas state democrats are in washington, d.c. urging congress to pass a voting rights law and bill the lawmakers fled texas yesterday to block as texas election legislation they say would restrict voting rights and on the news, the republican governor of texas says the lawmakers are be arrested as soon as they return. so how long will the standoff last tune in tonight at 7:00 p.m. eastern. and the emmy nominations are out. the crowd and the mandalorian leading 24 each. among networks hbo and hbo max has most nominations and netflix a close second with 129. you're up to date. scott back to you. >> appreciate that very much shares of boeing after
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announcing it will reduce production of the 787 dream liner to phil lebeau with the details. more problems, bill boeing as airplanes not the headline investors want to see. >> getting tiring for a number of people. because they wonder what else might pop up as they look at the inspection and how the 787 dream liner, remember a carbon fiber composite. it's been around a number of years. as they do the inspection with the faa that's why they bring down the monthly production rate because they're shifting workers from building dream liners at five a month to a lower rate over to inspection and reworking of existing dream liners knows are the ones in inventory that have not yet been delivered. the issue, it's the forward pressure bulk head and what they're doing is doing inspections and potentially doing rework here.
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the focus is on how this particular part of the plane, how it ages and the faa says we want them to update it and up to the standards it should be. expecting to take about three weeks. you are looking at 100 in inventory. boeing says it expects to deliver fewer than half. not all 100, fewer than half the reaction from the street, predictable. while frustrated, the analysts all note this is an issue that should be resolved maybe three weeks, four weeks, but ultimately it just pushing out deliveries a little further right. morgan stanley out with a note saying it's a headache but just a time line of deliveries to the right, does not materially change the investment thesis credit suisse with a note begging the question why after ten years of manufacturing 787s all the production issues are
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suddenly materializing that is an issue that i'm sure that the fa. a and boeing are discussing as they look at how these planes are certified. and remember, it's been about a decade where we have seen the carbon fiber composite planes in air in service around the world. by the way, all of this comes as boeing is reporting june orders and deliveries in terms of orders 146 -- remember the big order from united. that is the main reason why they have 146 orders in june. deliveries, 45 which is the highest since march of 2019. that's when the 737 max was grounded not a surprise that we are seeing an increase in deliveries, scott. because as they are building more max's that are gradually increasing production and deliveries that's why we saw a delivery of 45 but the eyes -- all eyes on wall street on the 787 dream liner and the issues that pop up.
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>> you said in inventory i want to be clear what about ones that the air now? >> right it's not a flight risk at this point. and we have talked about the faa and boeing they don't believe it's a flight risk could that change down the road? could sthe they say it's an aging and we need to pull the planes out of service? potentially. but the flipside of that they can decide, look, we can handle this with inspections on a egg maintenance schedule and don't need to pull them from service both the fa. a and boeing at this point do not believe this is a flight risk issue. >> glad we covered that. phil, thank you. >> you bet. >> let's bring in what may be called a frustrated shareholder. farmer jim joining us. are you frustrated, jim? i don't know how you could be because the producers tell me you bought more stock today. >> scott investing isn't easy. yes frustrated but also
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objective. i thought phil did an excellent job as he does excellent job laying out how the streets looks at this. you asked the right question is this a flight safety issue? no, it's not and i think what happens here is you get this negative sentiment pushing the stock down 3.5%. but overlooks the positives going on right now and a lot of those on the 737 max i don't mean to ignore the 787 you have air france klm in the market for a big order a lot of deliveries going on a lot of good out there. unfortunately i'm frustrated because the dream liner just kind of sits on top of it like a wet blanket. last thing i'll say on it for the moment because you have questions. this is now mr. calhoun the ceo is out of strikes. one more of these things and you have to have him turn over
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and you may what's taking me so long to make the call? look building airplanes is not easy it's not i think the f aft. a is getting trying are happy after the max debacle. i don't fault them for intrainspections investing is not eds i bought more today. >> you have enough confidence in management -- you don't think the company lost credibility in any respect. >> i think they have i think they have, scott let me make that clear they lost credibility with me. but in any relationship there are ebbs and flows we're at a low point in terms of my confident or anyone's confidence of mr. calhoun in management he has to turn it around right now. there is an earnings call in two weeks. he better have a lot of detail on what the production rate is going to be on the 787 and how
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they are managing the problem going forward. he is out of strikes he is out of strikes and some may say you may say i've given him too many already. but i'll say it's not a easy business if i were ones board of directors i'd say we've given you a lot of runway and you're out of it. get air under the wings or you're gone. >> i appreciate you calling in, jim and appreciate the fact that you did buy more stock i know you'll be back on the desk soon. >> stephanie link you own boeing. >> i don't think it's a management credibility this is the faa implementing tighter inspections after the 737 max debacle. i expect them to be more disciplined on this. but this is not a 787 or 777 story for all that matter. it's a 737 story 737 max which they just delivered 50 total in q2 47 of the max. more to come this is more a global recovery
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story. this is a china recertification story. let's not forget it was spirit aerospace that built this nose cockpit system that's not working. i think there is a lot of blame going around but i don't necessarily think it's management. >> steph, at some point don't you roll your eyes and say come on, guys, this is getting ridiculous just when you think this is a stock you really want to believe in again, there is at the minimum headline risk? >> well, there could be headline risk but it's coming from the faa being more strict. and they're trying to do what they can do. they were a -- they had a lot of problems they had a lot of problems calhoun has worked through a lot of the problems. and free cash flow is poised to correct in terms of improve substantially in the coming years. and it's a long-term investor you have to look at that as valuation creation >> okay. all right. good stuff. >> check out this mystery chart. a doubling over the last year. one firm calls for 30% upside
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interest here. we'll see. a nice move over the last year 135% is it too late to add to the portfolio to try and capture the gain the analyst thinks could happen talk about it in the call of the day next hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. “cracked windshield” take 1. ♪ you say ♪ ♪ i got a crack in my windshield... ♪ uh - uh, lisa, maybe less heartbroken? geico lets you file a claim online, over the phone or with their app. ♪ that makes me wanna say... ♪ ♪ stay... ♪ (sniffles) are...are you crying? uhh, there's pollen... geico. great service without all the drama. sometimes, you want speedy but reliable. state-of-the-art but dependable.
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that's the mystery chart right there. general motors, the call of the the day. price target raised $77 from 72 at rwc looking for a big beat. josh brown you open it gem lebenthal talked about it forever. what do you believe, $77 in the cards. >> i think it's $100 stock i bought it for the technical breakout initially the more i've been watching about gm listening to conference calls, i come around to the idea that really this is a technology company shaking off the guise of a 20th century automobile company. these are supercomputers on wheels we are thinking about gm all wrong. it's a price to sales ratio of 0.5. ridiculously undertral valued relative to the strides they are
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making in electronic, guidance systems and all the tech into the cars, it's leveling up further and further into the years to come. i want to stay long gm i think it's a triple digit name i like all of the progress that they are making in the various areas. i understand the auto cycle is the auto cycle but i'm paying nine times earnings that's fine. i think i'm getting credit for the fact we may have seen the peak in the cycle. >> nice move in shares of gm on that conversation. stay with us teasnual activity coming up back right after this. ♪♪ ♪♪
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pete, unusual. wlap do you have for us today? >> all right starting with old school tech and juniper the name first. trading just under 27.30 buying the 27.50 calls about 6,000 cause pup 30 cents up to 50 cents old school technology, starting to see more in cisco and june iper is a name i own the options. baba, the second one what makes that interesting, i talked about chinese stocks, all the activity we see there. i will not be in the stock but i will be in options
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stock was trading about 211, buying 215 strike calls. july 30th expiring bought 13,000. 370 all the way up to $4 expensive option but something think baba has upside over the next three weeks. >> good stuff, pete. jp morgan goldman sachs both lower despite earnings estimates today. we're trading those next
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i'm dad's greatest sandcastle - and greatest memory! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandcastle crumbles. you can't beat turkey hill memories. jpmorgan, goldman sachs, both
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lower despite topping earnings estimates. there you go so, goldman has been the big winner in the group, outside wells fargo. earnings were good stocks down. why? >> yeah, yeah. so, for me i think this is just absolute profit taking the print was fantastic. and what i will say here, you know, we knew that the underwriting ip was strong i wasn't surprised by those numbers. but the wealth management numbers were tremendous. it was a double year-over-year i really like goldman here and i would buy here >> is it the fact that rates -- the stock's moving lower because of rates >> so, i don't think that's the case i think it's a little bit more profit taking because when i look at financials as a whole, i think it's a little bit of a nuanced trade. i think the money centers volleys have pulled back some. you've seen financials drop about 10% in the last week and a
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half to two. but i think the investment banks are strong i like morgan stanley. i like goldman sachs here. i think these are opportunities in the financials. >> david solomon on "the closing bell," today we're looking forward to that interview. josh brown, jpmorgan, again, stock down that's yours >> okay. it's up 30% year-to-date so, you answered your own question these stocks have been anticipating strong results all year now you get the strong results, they don't also get credit after. stocks are anticipatory. they're not worried about looking back the thing on goldman, goldman doesn't get a lot of credit for things like booms in asset management their asset management business was up huge year-over-year but they don't get credit for that by investors or by analysts on the street because everyone knows that was a once in a lifetime year-over-year situation. it ain't going to repeat next quarter, let alone this quarter
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next year. so, it's not as though you should expect outsized gains as a result of a windfall of government created money flooding its mutual funds. the last part of that where goldman really excelled way better than jpmorgan was in investment banking this ipo/spac plays right into goldman sachs. i think up 40% they got the benefit already, which is why you want to be an investor before great news and not necessarily on the heels of great news >> steph, you've got to be quick. wells fargo reports tomorrow is it set up for a fall like jpmorgan and goldman sachs >> it's up 43%, one of the best banks year-to-date and off lows. i'll be quick. still ceo doesn't change of. new management team across the board.
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if it pulls back on the news i think it's a buying opportunity because i don't think the story changed, will change overnight >> i got to bounce we'll come back and do final ades i've got to tell you about jason snipes, other sells i teased in the show we'll do it next at the lexus golden opportunity sales event. get 1.9% apr financing on the 2021 rx 350. experience amazing. rush hour will never feel the same. experience, thrilling performance from our entire line of vehicles at the lexus golden opportunity sales event.
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he used his card to furnish a new exam room and everyone was happy. get the card built for business. by american express. i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories. another reminder, thursday "halftime" exclusive, jeffrey gundlach i mentioned a cup sells i wanted to talk about, xle and d r horton exiting his portfolio what's your final trade today? >> i'm going to go with walmart. i think it obviously underperformed the market. i can it can catch a bid on return to everything trade >> stephanie link. >> anaplan, it's up 5% under the
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new ceo. it's still down 22% yore to data >> pete najarian >> i'm looking at unitedhealth it's still cheap >> good stuff. trb, the reformed broker >> jpmorgan. best is yet to come for the economy and for companies like this bank, that facilitates all the activity within it >> good stuff. thanks everybody "the exchange" starts now. thank you, scott hi, everybody. i'm kelly evans. this is "the exchange" and we have inflation to talk about, coming in superhot for june, up 5.4%, the core reading up the most 30 years why are stocks rallying today? we'll discuss. plus we have the unrest in cuba, the latest from havana as analysts wonder if venezuela could be next and why our guest says the u.s. should not pursue more sanctions and coming up in rapid fire,


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