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tv   Fast Money Halftime Report  CNBC  October 15, 2021 12:00pm-1:00pm EDT

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cars are flooding deadends and cul-de-sacs confused by the concept of having to turn around and maybe not good at three-point turns. a new car appears every five minutes before going back to where it came from, carl, which is probably to plug in somewhere. >> they have more data than anyone, so we'll see how they manage that. buckle up for a busy week of earnings next week have a good weekend. let's get to the judge >> all right, carl welcome to "the halftime report" this friday. i'm scott wapner front and center the rally in stocks are about to have a bigger move higher. we'll debate with the investment committee as always. jenny harrington, steve weiss, jason snipe and jon najarian co-founder of market rebellion.com. let's go to the wall s&p 500 is edging back towards a new high and only 2% away and the dow is up more than 1.2% away and 35,184 and the ten-year note and there's the yield on it, 157.
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jon najarian, i'm going to begin with you today i can make a checklist this week that looks pretty darn good, and i want to get your thought on it earnings, all of that earnings, we're off to a great start economic data looks pretty good to me. ppi, below expectations and retail sales above expectation and i mentioned the yield on the ten-year, it's behaving and more good covid news and you've got the international travel announcement today seasonality is starting to look a little bit better and there's a risk on feeling the market and you take a look at what bitcoin is doing is this the week, dr. j, that broke the corrections back >> perhaps, scott. perhaps. i still would like to see a little more on the companies that are delivering goods side of the business. we've got great earnings you're absolutely right and that's from alcoa, to bank america, goldman sachs, morgan
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stanley. i mean, these are folks with the exception of alcoa that don't really have to deliver things. it's the movement of those goods and so forth, scott, and exactly bringing in things in particular from asia to the united states that i'm not so much worried that that's going to trigger a correction, scott, but i am keeping my eye on that to see if, indeed, it does crimp some of the earnings that we're about to get from the likes of apple with macs and ipads and iphones and so forth if it does crimp that, then what's the guidance going forward? so those are two things that could -- could be things that we worry about. for that reason, i bought a few s&p puts today just to sort of protect some of the tech side in tech of my portfolio, scott, but not significant. it will help if we see a bit of a correction, but it wasn't like i bought enough to cover the
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entire portfolio just a little. just in case something happens and right now i'm not looking for that something to happen >> yeah. jason snipe, it feels like we began the week talking about this new call from mike wilson and an addendum to a call that he already had calling for fire and ice, a greater than 10% correction and here we are today with that list that i made that looks pretty good. tom lee says today the case is strengthening for a year-end rally. mike santoli, our chief markets commentator says his mystery broker >> here's what he tweeted. the mystery broker backs off his call for a correction and now expects stocks to move higher and cites the market's resilience and cites the energy and eps forecast dip, near textbook technical bottoming process and coming seasonal strength is this the week that did it are we back thinking that the
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market can move higher >> yeah, scott it's a great question, and i have to go back to what john just said. what i'm looking at, the cpi and ppi numbers were a little more tame off the higher base and inflation is here and unemployment numbers were tough from september, but claims data this week had a two-handle on it and it was the first time we've seen that since march 2020 and part of it when i look at earnings and financials, i'm really curious to see how the companies that john just described that deliver things and how do they deal with supply shortages and supply chain issues and input prices rise that's what i'm starting to turn to as we head forward deeper into the earnings season, but i've been happy with what i've seen thus far. >> you see what's happening from the last couple of days and it makes me think of one person and with all due respect to you,
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steve. it's not you, it's jim lebenthal. it's mr. all in. the guy who has been -- why -- you see the look on his face it makes me think of you, farmer jim. why is it still frozen >> because you are mr. all in, and you've been the most bullish guy on the whole show this week was made for you, my friend. >> i'm enjoying it, steve and i'm enjoying those digs. it was very well done. there are two very important forces and one, delta has peaked and i can't understate how important that is and that means children go back to school, parent goes back to work parents go back to work in the ports of los angeles and long beach helping to unclog that congestion and they go back to work in semiconductor plants in southeast asia that we know were hard hit by the delta variant. it doesn't mean the supply chain issues are solved overnight with
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a snap of the fingers and it starts to thaw and we're moving in the right direction and we'v discussed this, and the fed will taper and guess what for the next eight months the fed will be putting liquidity into the financial system and albeit at a lower rate and they'll be swapping cash for bonds and that is supportive for the market and that's why any correction that we have has been no more than 5% overall. >> 5% is the number. >> yeah. >> that's the number yeah, and you and i were speaking with mike santoli, the re-opening names and the value and they've all searched higher in the open and then they faded
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into the close we discussed that at one day when the market started to fade midday that's telling me something and that's telling me a lot of people who got stuck in the first leg of the reopening trade from november of last yearto may of this year, they got stuck in it, okay? and they've spent the summer saying oh, my god what do they do those weak hands are getting shook out, but they're selling those shares to people who are going to hold it for a rally that i think will pick up steam into the end of the year i really like that this rally is unloved right now. i like it a lot. jenny, do you think it will? is this the year that we'll look back and say that's the week that did it? that's the week that did it. jim's points are solid and i see not necessarily headwinds and i see hurdles and these are hurdles not just for the next 18
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months or longer which is $30 trillion of government debt and a lot of money is coming in between now and next summer when tapering is done, can which means there will not be $120 million being pumped in and inflation might be stickier than we expect and taxes and government regulation are not getting easier and they're getting tougher and geopolitical issues are tough and, sorry -- i already said inflation i got my things covered. sorry about that i think there are just hurdles in the way i look at the bank stock earnings and this is john's point earlier, those are great, but they're not necessarily indicative of what's to come because they're not facing supply chain issues and they're not facing labor cost issues and they're not facing issues from energy prices going higher i don't see a super rosy next quarter. now i'm also fully invested, right? but i think this is what it comes down to, what's the magnitude of your bullishness and this is really the question and does this mean we'll be up
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10%. jim, do you think we'll get 10% or does it mean that we'll get two or three i think what we'll need to do as a society and as investors over the next several months to start to temper expectations the last ten years have delivered a 16.5% annualized return that is unlikely to be delivered in the coming ten years, and we just need to get more realistic, so when we talk about being bullish, that's fine, but let's define it. >> so steve weiss, you've arguably been one of the more cautious committee members on the desk you've talked about your cash levels going up. you've positioned yourself for maybe a larger pullback. are you re-thinking that after that checklist that i hope you at least heard if your shot was frozen i'm assuming you can at least hear the conversation. i certainly hope so. what do you think? >> yep i heard the list and what jim said look, i've been to the golf course with you and when you get
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in the range your game is completely different from when you tee off. this week was practice and this week was the warm-up and we tee off next week when you get the earnings that jason referred to, that jon referred to and i still think it's going to be that smooth i have added cash in not because i thought the market would go up, but because some of the stocks i own would be with the fundamentals and that includes fedex and keep talking about the market averages and how he's all in and how it's near the top and jim doesn't own the indices and he owns stocks and some that have done very, very well and that tells the story to me, where we are i don't buy this garbage, much love, everloved, under loved who cares? okay those are people's opinions that are out there, strategists saying it's going up and it's going up except one or two here's what i know i know that we're going to hear from companies and they're going
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to talk about the supply chain. >> which we know. >> and they'll give themselves some room. >> right we know that >> well, do we know that any more, scott? >> how will you tell us we don't know >> the market knows it why would they tell us we don't know >> scott, what do the banks tell you you don't know that b of a will print a lot of money and that banking was great and all of the spacs attitude and we heard all that and we knew all that and the stock has gone up because the market discounts right away and discounts again so while we know that about earnings, just wait to see how they handle it when the companies disappoint okay we knew trucking was good. j.b. hunt was up ten bucks today. so it's not what you know when you know it. it's what you know in the future. >> farmer jim. >> so steve said something amazing which was very on target which is i am an investor in stocks as opposed to the indices
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and this is illustrative and we talked about this role in correction and that correction in the cyclical re-opening and value stock trade. it already happened in the summer and this is the time you've got to realize we're coming out of consolidation and you can look at the bids to financial like goldman sachs and an industrial like northrop grumman and marathon petroleum and believe me, this list goes on and on. >> northrop all-time high today just to throw that out since you mentioned the name but this list is incomplete. you can see the bid to what's been a battleground stock like wynn resorts you can see that bid, and you know, what i notice about steve and he and i know each other very well. steve is angry today i don't know why steve is angry. is it because he's not as invest as he thinks he should be? is it because he's listening and saying wait a second, why are
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the stocks flying right now. >> farmer jim has every reason -- farmer jim has every reason to crow a little bit today, steve you should be on the defensive today, weiss >> let's put into perspective, farmer jim was crowing before the correction happened and so we're getting back to where he was when it happened and let's put the facts out there that a true facts and not alternative facts and that's the reality do i think the market would trend up sure, i do my portfolio has what you call beta which means that it acts better than the market on up days generally and worse than the market on down days, beta. so i've actually performed in line with the market as its rally. moderna, beta, so that's how i'm playing it and yeah, by the way, i've made money in the short side and by the way, i've covered stocks when they're need the bottoms like baba and i've
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been able to play both sides of the market. >> why are vow you so -- i love when you get fired up. >> i am fired up, scott. >> i love it you know what? farmer jim >> you know why i'm fired up, scott, one more thing. the reason i'm fired up is i didn't think jim would be on the show today i thought it was going to be us. >> i knew that was why >> i was going to go to jim, and you know i'll keep you around. you spend the rest of the a block with us, jim if you can >> i can >> i want to bring in brian belski, he's with us once again. good to see you again. welcome back thanks for having us hello from canada, open for business. >> you heard the conversation. is this the week that broke the
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correction's back? you must think or hope that it is because you've got 4800 on the s&p. listening to your family there sounds like the belski family christmas dinner this is, and i'm not a technician, but my very first mentor on wall street was william o'neal, and he taught us a really cool pattern called a cup with a handle, and i think the market over the last few weeks has made this cup with a handle-type pattern which is very, very bullish, and as you know, and i've been called a pollyanna and all of this kind of stuff, but it's always better than be better coming out of a negative this side of things than bitter and we can be better and we can be positive because the macro environment actually is better than everybody thought. earnings are better than everybody thought. here are some facts. if you take a look at what s&p earnings are going to be as of june up 23% and they went up 25%
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by the end of september and now we're coming in at 27% and earnings are going higher and not even talking about financials come on. you know i've been on this program saying, belski. >> financials, financials, financials. >> yeah, and here's why. look at what these companies have been able to do and it's not just that goldman would print money and look at the wealth management side of the business and the big money center banks are similar in scope to what's gone on in canada for the big five banks and that's why want to own these companies because of scale and the numbers are unbelievable with respect to the notion that earnings are slowing analysts and companies have been sandbagging the numbers for ten years and they underpromise and overdeliver and it's never been more prominent in the next two years and this trend will continue and oh, by the way, it's not just this first week
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pip think e and they transition to an earnings driven market it will be positive and lastly, this whole notion of calling indices versus stocks, we've said for the last six to eight quarters, that the market is a market of stocks this is a stock, and the last six months especially with the tug-of-war with respect to growth versus value. so yes, we're an investor and yes we're bullish and yes to 4800 and the market is going to surprise people like they've never seen you're too cautious and that's what belski is just saying and he doesn't want to call you out directly and it's an arbitrary time period and it's a month on the nose and half a percent over the last month and you were roses and sunshine, too. >> it sounds to me, jenny that you're still expecting a storm.
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>> you go, jenny it sounds like you're still expecting some kind of storm and belski says put your sunglasses on the sun's out and it's going to get brighter >> let's be really clear i am not expecting a storm i just think it will be hard and what's interesting is we can have a kind of flat market and there could be huge winners and huge losers under the surface. there's a lot of churn and boil under the surface of the market and i am not expecting a storm and i think that's where that $120 billion a month is still flowing in is going to support us and we also have a government that's pretty convinced that they need to keep the market up to win re-elections and there's a lot of focus out there to keep the market going and i think that will continue i don't expect a storm i just don't expect sunshine and will be hard to make money i feel like belski is, and brian belski i'm trying to figure out what he
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said, and the market will be up. >> it's not just this week he said you made the case, if i recall correctly don't take earnings for this week that the heavy lift starts to begin next week so this week, whatever, the real work starts now. belski is basically saying no, the earnings will be good for the next many weeks and i don't want to misrepresent it, and i think i accurately got this. that's where we disagree in terms of the market overall. i don't think that's going to be the case in the industrial sector and there are some stocks they own and earnings will be pretty good and the ones where i think will be issues and i shave those back like sky works and the corvo, and they'll blow it out so it is stocks and we agree in that where brian's wrong is that earnings are slowing down s&p forecasts show earns up 9% next year versus whatever they
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were, 40% this year and that's slowing down are the analysts going to be wrong who is great with this and the earnings are 2% and when you go through the sectors that financial was talking about and they'll have down earnings next year and that's true of the estimates through the entire street so you've got to be very careful and say the markets will go up and that's a pretty rogue statement and the markets always go up and they go up 90% of the time and i'm not looking for a major bear market and a major sell-off i'll just check the data i have. >> i understand. he's suggesting that we'll hit 4800 on the s&p by the end of the year i mean, just because markets go up 90% of the time over one's lifetime doesn't necessarily mean that they're saying it will go to 4800 is some sort of, you know, no, duh, kind of statement.
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>> hold on, jim, you're not even supposed to be here. my view is i'm looking at the quarter at this quarter and i'm saying that i think the quarter will be weak and i'm keeping cash as i was with fedex and some others. so that's why i have cash because i think that some of the names that i had are going to have bad quarters. >> belski. >> why not try to manage the portfolio? >> belski. >> wapner. >> i mean, he said he thinks you're wrong isn't that kind of obvious >> no, first off, i feel like i should have a bro hug with farmer jim and jenny, congratulations on the call there and that's a rounding error. >> thank you so much
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whoa when you sit across a client and you have 50 basis points they're not coming back and that's the reality of what i've seen in my 31 years of doing this with respect to steve and he mentioned industrials and he didn't mention industrial stocks except fedex and if you look at industrials and you buy it because of the performance and cash flow which look amazing and it's the conglomerates that have been crushed because of what's happening globally and because of what happened in china, that will continue and you want to be domestically focused, the truckers and the rails and the waste management companies and northrop, lockheed, gd and these are names that we've owned forever and we'll continue to go up and you want to become more domestically focused and this is about fundamental analysis and
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bottom-up stock picking and not just calling out a sector and you have to do the work and call out individual names and with respect to the financials and the low numbers. >> hold on, weiss. i want to jump in because i want to steer it forward before i have to go sorry. where do i want to be in terms of technology? because it's obviously been a spot of consternation and the chip stocks and some of the high-flying and high valuation stocks although kathy woods' ark innovation fund is up 5.5% year to date and it's been a nice bounce there i looked earlier today and apple last time i checked was 13 buck away from its high it's a 143 and change. it's flat right now but the 52-week high is 157. bellski, where do i want to be in terms of tech and i want you in after belski answers that the four parts of tech are the
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value plays and the hypergrowers like the arc funds and those will be the ones that are the harder ones to hold, scott technology overall put out a note on the interest rate cycles and tech has outperformed so it's a misnomer that tech can't do well and we will equal weight across the board from whether or not secular and structural growth like nvidia and mor value-type growth it in terms of cisco and texas instruments. so we love the technology sector it's our favorite sector over the next three to five years and we think it's more deflationary than inflationary. >> did you see the retail report today jason snipe and say, okay, we've talked about the financials and we've just talked about technology and maybe we need to talk about retail. you bought more target, right? >> you bought target is this a new position or an addition >> we've been a longtime holder
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of walmart and target, obviously, this has been a huge execution story and they're up 30% plus this year and for us, they pulled back a little over 10% earlier this week, and i know we're heading into the fourth quarter and supply chain shortage which we talked about ad nauseam and i do think from an execution perspective, target is a name i'll bet on going forward and we'll get a position on the name. farmer jim, leave me with a thought before i have to say good-bye and send you back to the farm for the rest of the day. >> can i do that can i say good-bye to him? >> no, hang on, steve, you're too bitter and angry today you pipe down. this is a happy show for happy people >> i'm happy, many let me summarize this. all of us are investors and we're thinking about the next piece of news and it could be bad and it could be that there is a new variant of covid and what do you think the
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probability is that the ships outside of l.a. and long beach is going down? what do you think will happen when the market says hey, wait a second ford is getting more semiconductor chips and what do you think the market will do if congress passes an infrastructure bill by october 31st i know these are all ifs and there are negative ifs, as well and they a high likelihood over the next coming weeks and we'll rally hard into the year end. >>k do, give me 30 seconds on top of what farmer jim said. i know you didn't make too much out of the s&p put, but you still bought them. >>yia. i bought them, scott, because quite frankly, as you know i've been buyingenergy like crazy and i've been buying uranium, i've been buying coal and adding up i view those -- that area as a problem going forward unlike
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kalanovik. i think it draws the consumer back rather than letting them enjoy what they should be enjoying right now >> all right brian belski, see you soon also appreciate having you on the program. >> high-flying moderna you know who owns it and we'll debate it next and next week marks the anniversary of cnbc. we have an all-star lineup and some of the biggest names in investing to talk markets and their best ideas and it all starts monday with carl icahn and jim chanos jeffrey gunlock, david tpeepr, jim reynolds so many more we're back after this. as an independent financial advisor, i stand by these promises:
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i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com
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welcome back i'm rahel solomon and here is our cnbc news at this hour nicholas cruz, the accused gunman in the parkland school shooting will plead guilty to murder in the deaths of 17 students and staff members according to his attorneys they will bypass trial and go to a penalty phase and despite the pleas they will still seek a death sentence cruz pleads guilty outawithout
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deal and how he might still get the death penalty. he will receive a letter of reprimand. >> and this is different, in australia, a brazen robber is accused of using a front-end load tore smash his way into the motorcycle dealership and steal two bikes and he didn't get far because police followed him on a slow-speed chase and he was arrested on foot after the front loader slid down an embankment i don't know how those fast those things go, but he made an effort >> take a look at shares of moderna. there is news according to dow jones that the fda has delayed moderna's vaccine for adolescents. that's an interesting
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development there. also see here that that delay, the decision on it could take weeks is what the report does say and you can see the move on the stock on an intraday basis weiss, i was going to go to you on moderna today regardless of an upgrade everoverweight at pi sandler and the target and so you had some good news in the middle part of the week regarding moderna and this is a no-doubt, negative >> well, yeah, and i haven't seen the report. i listened to all eight or nine hours and the fda panel discussion just with moderna and it was all extremely favorable look, there have been, as we saw in europe about a week and a half ago that myocarditis which is inflammation of the heart and the sack around it, there have been incidents of that, but they haven't released the data showing that, and in fact, when you look at the kaiser data
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which had 2.5 million people in it that they showed eight cases from pfizer and seven cases from moderna and they all healed and out of the 1.5 million that weren't vaccinated there were 75 cases of it and there was nothing there that this was momentary and they'd come back and we've seen the data including yesterday that it's much more effective than the pfizer vaccine because it only dropped to 85% from the efficacious standpoint even with delta versus 45% from pfizer the good news yesterday and why they recommend the stock is why the fda approved a booster at 50 micrograms versus a hundred. they will double their production so increase by $1 billion at the same price. so i expect this to go away. keep in mind that moderna was approved and eua approval after pfizer and there's delay in the data and additionally the pfizer
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data comes from israel which was way before in terms of authorizing the vaccine and so they have a much longer history of data. look, this is an opportunity to get in front of it and to buy it because i also expect mix and matched to be approved later on today when the panel votes and why would you ever take a j&j, bo booster or a pfizer so i'm not concerned by this. >> that's one investor's opinion, someone who is long moderna and let's just throw that out there and make that clear that it's your opinion >> well, actually, it's not my opinion in order of it being effective. that's in the data >> i understand. it's why would you ever comment. i've got you no, that's true. i agree. >> we'll have more on this, if we do have more developments on this certainly moving forward. by the way, i don't see much of a negative impact and maybe the
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dow's lost 20 or so points over the last 90 seconds since we started talking about the moderna delay as being reported by "the wall street journal. we'll bring it to you immediately and there's the move on moderna shares and weiss, i do want to talk about a couple of moves you made. you brought back jabil and you have a new person in atcore, atkr is the ticker why don't you tell us the new position first that we've spoken about this show and on buying back jabil, please >> -- i got out of the position and i had concerns over pricing. >> weiss, forgive me for doing this i have meg tirel on the phone here to give us more perspective. meg, what do you know?
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>> he's had it since june and it's an interesting timeframe because pfizer got his application in for that age group first and the fda reviewed it and then we started to see the rare signal of the myocarditis risk for both vaccines and that, perhaps, has influenced the fda not acting on clearing the moderna vaccine down to age 12 as quickly as it might have the other -- thing is, of course, it is available for anyone who wants it down to age 12 folks can go out and get the pfizer vaccine right now it took the pressure off the fda to also clear moderna so quickly. that being said, once the signal emerged the fda will be very careful about clearing any additional vaccines until they really understand the risk profile there that will play into how they look at vaccines for younger age groups for both pfizer and moderna, as well and of course, this risk is in the label for these vaccines and it is very low, but it's higher for
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younger men under age 30 and it's something that the fda has been paying close attention to and it doesn't surprise me to see the headlines because the way the wall street journal is tying this to decisions and other countries and that's new to me and it all kind of makes sense. >> in terms of a timeframe, the early reports that we were getting said that this could take weeks is how it was being characterized. can you shed any light on when something like this happens and there is a further review by the fda and what kind of timeframe we should or could be thinking about without knowing specifically, obviously? >> well, i guess the question is what was the timeframe already because this application has been in front of the fda for months now this is just for 12 to 17-year-olds from my understanding from this reporting and so, yeah, it could potentially take weeks and the fda has a lot on its plate when it comes to the moderna vaccine and it got moderna's full
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approval waiting for them and they've got to review pfizer's applications for kids and 5 to 11 and that's coming up in two weeks. we've got a lot going on and this might not have been a top priority and you add into it a potential additional risk for kids when there's not an urgent need because you already have another vaccine out there, it doesn't spell a lot of hustling on this particular issue >> we appreciate you helping us out, meg that's meg tirrell with the vaccines on adolescents as first reported in "the wall street journal. forgive me, i wanted to get it from meg on this breaking story. today about atcore >> atcore has had a stellar performance. the stock got up to -- i may have sold it a point or two lower, but they're managing cost supply chain very well and it's a small company, and they're doing a great job, so it's a
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cheap stock at about 10, 11 times earnings and that's why i bought it. >> and jabil >> so jabil, when they report the quarter, it was disappointing, unquestionably was disappointing and i was able to sell the stock before it started to collapse and the stock traded down five bucks and i said, you know what? this is overstating the risk in it and it was a new position and i didn't have the full position just yet and not that it was a small size and it wasn't small i said, you know what? down here it is overdone and i bought it and i've been adding to it and they'll still talk about a $10 earnings number and the company is doing extremely well and they would manage the call and they haven't missed over the last, count the quarters, so that's why people got unsettled and i looked at it as an opportunity. >> i appreciate that and don't miss john's trades before they go to break and led by
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discretionary and a good retail number and the financials, really strong earnings and there's the industrials as well. w we're back after this.
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dr. j., what do you see today? >> well, scott, this one's got a great name, venom. vnom it's actually viper energy bryn talkington mentioned this one and they have the june 24 calls and that's not much upside because the stocks are up $23 right now and they bought 5,000 of these and i love that it's out there in the future, scott, this is balken and it's a fracing play love that. second one, aer and they rent aircraft, and i think that's obviously a hot sector we've been talking about re-opening today that's a sector where people need those jets and they're going to pay the leasing company for them aer, november 62.50 calls and they bought a bunch of those quick update, scott. sofi, we talked about it several times and the sktock has gone up and up and up and the calls are up 400% and we cashed out over
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half of those and we're hoping for more upside going forward. >> up 2% for sofi. bryn's viper energy pick and when we did our mid-ier picks for names that we'll outperform in the second half and viper is up, and it's up 30% since then and it's a great pick and you're seeing some activity, as well. >> the lady knows energy what can i say in houston, who would believe that >> thank you >> macy's is in the crosshairs of activists and billionaire investor carl icahn stepping up e rybattle with southwest gas. thve latest on those two we'll do it next
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welcome higher today on an activist move. leslie picker. toing the money for us as she always does with both of these stories. hey, les. >> that's right, up the ante in october. pushing macy's spin off its a commerce business. i've spoken with someone who tells me they have a stake in the business though it's unclear how -- inbound interest from outside suiters who would be interest in the potentially acquiring that e-commerce division in the event of a
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spinoff. macy's declined to comment they're up pretty significantly again today. southwest shares getting an activist boos, up 7% after carl acoop announced he's launching a full-on proxy contest to replace the entire board there he's issuing a tender for all common shares for $75 a piece. the move comes with caveats, though icon is displeased by the company's recently announced acquisition from pipeline energy southwest gas triggered a poison pill on monday icon said that would have to go if he's going to be moving forward had with his offer i'm guessing you'll be chatting about that a hot with icon next week. >> we absolutely will. as leslie said, carl icahn will be joining me monday all art of
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halftime's weekle we'll big investor guests lined up up next, weal get you ready for all big earnings next week as well plus final trades, of course tio. let's get you on some antibiotics right away. you could have it brought right to your door, with 1-to-2 day delivery from your local cvs. or same day if you need it sooner. but at a time like this, aren't you glad you can also just swing by to pick it up? and get your questions answered. because peace of mind is something you just can't get in a cardboard box. that's healthier made easier. at cvs.
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another reminder of the huge week we have ahead on "halftime" as we celebrate our 10-year anniversary. that's just part of the lineup there. so many more on and on. we're looking very much forward to that. it is a big week of earnings as
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well netflix is one of the headliners reporting. you owned it you trim a little earlier in the year streets bullish on it. netflix target goes to 705 target goes to 675 at morgan stanley. it's added to tactical overperform. stock as like 15 bucks, that's it, away from a new high. >> you're right, i trim it earlier this year. i thought it was conle is dating netflix for me has always been a content story, and now that production is back, i can see netflix continuing to move higher, so i like it here. >> dr. j, you have calls >> yeah, like jason i like it. scott, $650 is my target for it next week. it's 6:30 right now. i pick that target because that's where the most active spec is to the upside. time will tell, but these guy have been hitting it hard, just like your group that's going to join us next week. >> jennie, intel, we've given
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you grief over that. we've given you grief over it. the stock is down 3% over the last three months, trading at $53 right now. what's your outlook? what are your expectations for this report? >> the stock everyone loves the hate earnings expectations are expected to be flat. for the quarters gelsinger has been in charge -- i think he's going to use the call as a base of confidence. should operate off its 10 times multiple. >> don't you give me a trade >> give it time. disney the u.s. lifted travel restrictions and that's going to be beneficial to disney. >> crkraemer said the same thin as well. >> j.b. hunt reported earnings, be they were incredible.
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freight brokerage and freight i think will do right well excellent management okay jason? >> crm i like the momentum. i think it pushes 300 in the run. >> dr. j. >> riot block chain. >> we'll take you out with a look at the dow. it is a good friday for stocks thus far "the exchange" begins now. thank you very much, scott hi, everybody. i'm kelly evans. ahead of the exchange, consumers may be furious about higher prices, but their spending was much stronger than expected last month. strong retail sales, strong earnings have the market rallying we'll look at whether these gains are sustainable. oil is dumping -- and a different commodity could that i can take the reigns from here. the stocks wall street says are going to red

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