Create hes taking a lot of heat. This is an unquestioned big victory. This was a 2. 6 billion score. Take a look at this name. They first got into it in september of 2011. They built the stake over a course of a month or so with prices ranging at about 63 with the average price 55. After putting new direct orreor the board and being involved with that, they began selling stock 6 million shares in late 2013 at about 142 a share so theyre up about 90. Two more sales in the years that followed at a higher price range and then the 9. 8 million share yesterday. They made most of their profits, roughly 2 billion on the stocks performance but they also benefitted from a currency hedge. They will use the proceeds of the sale to make one or more new investments in the main Fund Although not necessarily through a special vehicle. The timing couldnt be better. The fund is down about 19 through july thanks in large part to the awful performance of val ent pharmaceuticals and then theres herbalife. Given all that redemptions have been in focus ackman said in an investor call the first half of the year the redemption rate was not relatively high but its early yet to know how theyre going to do during the current quarter, the redemption deadline and the herbalife news and the Canadian Pacific performance is in a couple of months. As you know as well as anybody the good stories of his career have been overshadowed of late with the herbalife but this is being called one of the greatest corporate turn arounds in corporate history. When you look at what the performance of cp was before ackman got in, you were talking and bill was pointing this out to me today a company with margins that were less than half of its competitors. Now it has its margins from 19 to 40 . They won the proxy fight and it has been a tremendous turn around in the company and obviously the stock wind fall. Absolutely. The thing thats interesting about ackman and the reason we love to talk about him hes had some really bruising defeats. Hes had super big scores as well. During the financial crisis his work there and with a name like Canadian Pacific today makes him a stand out in this business. Last year he was down about 22 and this year 19 at this point but well see how it goes for the rest of the year. Herbalife, the storys not fully over yet and in terms of valiant hes on the board and he may be trying to effect changes there. So maybe it needs a runway. Thanks as always. With us for the hour is our panel. Ackman told me hes open to ideas so we thought wed have fun with this. In the kind of market were in, were near all time highs, values may be hard to find in the marketplace today, but where should bill ackman go next. I think theres a sector of the market where there is still value is old Line Technology and a name that has come up on radars before is kwal kom. This has to be a Large Company. It fits the bill. Theres a lot of cash on the Balance Sheet which is something he can do something and the general chip sector and particularly mobile phones is ripe for consolidation. This is something he could very easily get involved in. The two things against it are Jana Partners have been activists in the name and its an area he generally hasnt been in before. I was going to say that part of it. Hes been in a lot of different sectors whether its retailer whether its herbalife or transportations so i dont think theres anything that precluded him from going into a new field, especially one that has a loot of value in it right. How about a return to an old field. Hes been in mcdonalds before. Hes been aggressive in the burger world. His push before was spin offs. Hes talking about reets. I love the leadership of mcdonalds and the direction theyre pushing in right now and if they could unlock something more, jim is talking about huge companies, this is a Large Company and they have cash so this fits a lot of things. Hes been there before wch maybe he thinks theres something he can unlock that they have not unlocked yet. One of the issues i gathered from speaking with him and kate its good youre sticking around here i get the feeling hes looking for something thats not doing that well. Mcdonalds is doing well. Maybe one of the things with valiant is the time he got into valiant the company was doing well. Hes looking for something that he can help turn around. He had a slightly different play at the outset. When he got involved with valiant it was to help them purchase oregon. He had a different idea in mind and that may have been his intention. It evolved into this valiant but i think you make a good point and one question im curious about is activists dont seem to pursue these troubled oil drillers. Ive heard other activists tell me its too volatile and they feel that way as well about new tech if you will. Even though those areas would seem ripe for opportunity. I think the road map in 2013 is a road map that can be followed by bill ackman today or anyone. If you look at the Earnings Release for Cf Industries that clearly from a valuations standpoint and a standpoint of understanding the debt side and the equity side which mr. Ackman is proficient in understanding the debt side is important as well with this company because the company is reinstructing. Dan did well in 2014 with Cf Industries. Its a quality company. The problem is pricing and thats been the challenge. Nitrogen pricing is going to make a rebound recovery here. Were seeing early signs of that as it relates to natural gas but its a name for mr. Ackman and any other activists would i be looking with certainly as you raise the amount of capital he did. I like phillips 66. I like it for me and id love to have mr. Ackman join me and i like it because warren buffet owns 14 of this one. One magazine called the baby buffet at one point. Right. One of the issues that kate through her coverage brought up is hes had some pretty high flyers that have worked out that have flipped and gone the wrong way against him. If youre in one that warren buffets in outside of ibm if you bought it at 195 if you follow buffet at all youre doing okay. In phillips 66 i like the idea theyve got pipelines and could see a spinoff of Something Like that. Could you see the chemical sp e spinoff. Theyve really got four leverage at least and its not hes got industrial experience. We think hes chasing it up to the highs. Thats the total feeling, hes not going to buy something thats chased all the way. Hes not going to chase something all the way. I think if you pull backfi back phillips 66 over the last year, cf is in an abyssal you want to buy a business that is really challenged right now. I think its close exposure to the market where some of the names mcdonalds or phillips 66 theyre hanging up well and then you fell victim to a market decline. Some of the victories of his career have been turn around. Its not just this. Its General Growth Properties was a bankruptcy and turned out to be one of the greatest Hedge Fund Investments that has ever been made. I have i love the fact that our some of our viewers are participating on twitter with all this. They suggest agrium or pot ash. I think pot ash you guys had some unusual activity a couple of months ago but i think there youre going to have regulatory hurdles because it being north of the boarder. Ill still go with Cf Industries. I wouldnt think he would want do something with the come moddies. I think you have interesting ideas because if you look at what would he not want, hes exposed to the Consumer Sector and hes got the herbalife situation which is a multi level market, its overexposed on valiant, its like where does he have comp tensy and maybe a sweet spot, where is he protecting himself from some of the possible market declines and yet not overexposing the portfolio to one sector or another. If it wasnt for his valiant position right now one of the names i was looking at was pfizer. It makes sense to me because theyve talked about in terms of spinning themselves already or splitting themselves already. So thats another one of those names. Hes close to it with zoetus. Hes close to it. Fipfizer is a giant. The other thing that might be worth mentioning is he talked up fanny and freddie. This is not a huge percentage of his portfolio. Thats a suggestion that says someone says load up on more fanny mae. Its a question will outside shareholders get to enjoy the profits but its a story he seems to feel good about and hes done a lot of work around what needs to happen there. An interesting conversation. Halftime report is just getting started. When wall street and marijuana mix, you get an upgrade in a stock weve been telling you about for a week. More Halftime Report in two minutes. Narrator adventure can be found anywhere but the best place to start is in the forest. Kubo i spy something beginning with. S beetle snow. Kubo no. Beetle snow covered trees. Monkey nothing to do with snow. Narrator head outside to discover incredible animals and beautiful plants that come together to create an unforgettable adventure. Kubo wow narrator so grab your loved ones monkey dont even. Narrator and explore a world of possibilities. Kubo come on, this way. Narrator visit discovertheforest. Org to find the closest forest or park to you. Europeanan banks today in the news after the bank of england cut the Interest Rate by 1. 5 . We have what all this means for the Federal Reserve. What do you think this means . The rate cut was expected. The bond buying was not. How is the fed die guesting this. And the Forward Guidance which is telling them theyre going to remain low. I think its another reason for the fed not to hike. Theres a Global Movement to cut Interest Rates. What the fed will tell you is that the economics in the u. S. Are different and that weve had generally stronger growth and lower unemployment, somewhat higher inflation, but ultimately there are limits to how far the fed is going to go relative to its peers around the world. I think the central question is some members of the fed seem somewhat hell bent on raising rates this year at least one time. Lets say one time. By virtue of the fact that Central Banks around the world are going the opposite direction arent they doing the feds work for it. To an extent thats definitely true. Im not sure that hell bent is an official Monetary Policy term. It depends on which fed person. You guys are laughing while i mock you. I think theres a kind of bureaucratic mode of this which is they were in normalization. That was december 2015. So were we might get to a year without another hike. As i said in june i officially declared the end of the first hiking cycle. It cant be it cant here the ec echo of it. Some people joke ten years of waiting and all we got was a quarter point. I was reviewing a portfolio and in the investment conclusions there was the economic evidence and there was the expectations and global Central Banks. When it came to the line and this is a 10 billion plus Portfolio Fund came to the fomc the statement was make sure you have a coin in your pocket. How does the Federal Reserve restore the credibility it lost. I think about this all the time because im trying to figure out how the fed can create a Monetary Policy that is not dependent upon tomorrows jobs report. It feels to me that the overall direction of a tanker should be determined not by the latest wave coming to the tanker. It should be more at stake here. So what im trying to figure out is it a matter of bad luck in that weve had all of these different shocks to the economy that are unexpected and so what the fed finding itself is wound up to do one thing and then you have Something Like brexit come along. I think we would be sitting here talking about the july hike or the certainty of a september hike if it wasnt for brexit. If thats the case the fed is no dump dumber or smarter than the market is. The market has been smarter than the fed has been. Thats the issue that we once again find ourselves dealing with. If the fed moves in september, the market is going to be completely off sides by that. You can look at that through the feds funds future and talk to investors. The market would be way off sides if they go. Unless they telegraph it at jackson hole. They wouldnt be off sides for a december hike. Id like to go back to your original question which is why are they so enthused about raising rates and they know this economic expansion which depending on oh you you measure it at seven years long and we havent once had a quarter about 3 gdp growth theyre worried that the steam runs out of this engine before too long and the only tool they would really have to combat it is negative Interest Rates which arent working globally. And have different implications in the u. S. I think another issue is lets go back to the june press conference with janet yellen when for the first time i remember she internalized this notion of section yar stag nation where the growth rates of the u. S. Are lower than they originally thought, stuff they thought was temporary may be more permanent. Im not sure exactly how much enthusiasm there is for creating restrictive monetary policies. I think they want to claw back a little bit in part of look what karney did today, he had a quarter to cut and he was able to respond with some amount of stimulus. What happens this is why were following boe so closely. What happens if the u. S. Has a shock. What does the fed have. What about carney said in the press conference after when he said there are going to be not just incentives but penalties for banks that dont lend and would you see any of that extending over here. Certainly theres been a lot of trep addition on the part of the banks to lend to anybody but the best corporates at these low rates. Theres a play book for central banking. This is a segment where we call it how the fed works. Theres a theres a part of the fed playbook that guys like stan fisher used in israel. Mark carney used it but its the bullying of the banks playbook. We havent used that here in the states. The bigger the financial industry in a country the less it works. Stan fisher could call in the israel banks around the table and say you will dump this bad real estate stuff. Carney can call in the federal banks. Im not sure thats part of the u. S. Monetary policy. You scared the heck out of me thinking they would jawbone u. S. Banks into doing that. I think if you look at israel im not going to argue with you. Keep going. How should investors play it . Ben from nashville tweeted halftime looking for a trade school on how to buy voluntarilitity. Its a conversation we had yesterday. I get emails and texts and tweets constantly about it scott. Theres two answers. The best way is if youve had an incredible run to the upside like weve had and you look at the s p 500 and youre involved with the market theres nothing wrong with taking profits off and using stock replacement strategy to buy inexpensive options. The other side is you can hedge yourself. When the volatility the important part about this is if youre hedging yourself are you is your portfolio mimicking the s p 500. What does your portfolio look like and then you go to that side of it and you start to buy to protect your portfolio to the down side at these low levels. The more advanced you are, the more you can take a step and do a call spread which is the only way i traded. I never buy vicks calls outright because its the real pros and the deep end of the pool you need to have a spread in place. Same thing with the spider, i think thats a great way. You buy a spread when you think its too low but that is going to increase the volatility. What about the focus on voluntarilitity. Dont like them. Why. Most of the time theyre not going to give you what you expect out of them. There was one time during this year where john and i both were using the uvxy. The problem is because of its leverage its completely recalculating every day so its not going to act like youd like it to act unless you get the move immediately. Theres another problem which is the futures market. Theyre always pinpointing a certain durations of the futures and in order to do that they have to sell some of the near futures and sell the longer futures. Theyre paying more and selling for less what they paid more for the day before. So you have to get the timing right. If you do any of these its a home run but youve got to be in and out within less than two weeks, no longer. Do you guys see a problem in the usage of these volatility etfs because much has been written about the potential powder keg they could be. Huge push. I dont use any of them. Im not trying to bash them but i dont use them. Youll use the spy or go directly to that stock or do a different etf but not volatility indexes. Lets look at oil now. Its moving higher over the last 30 minutes. It was back above 41 and there it is moving to 42 a barrel on the september contract its a gain of better than 2 today. On the eve of the olympics in rio the big three all taking big positions at the starting line. Who will take gold, silver and bronze. Well werestle with that next. Thats the move following earnings were trading other movers along with square. [announcer] is it a force of nature . Or a sales event . The summer of audi sales event is here. Get up to a 5,000 bonus on select audi models. Hthis bad boy is a mobile trading desk so that i can take my Trading Platform wherever i go. You know that thinkorswim seamlessly syncs across all your devices, right . Oh, so my custom studies will go with me . Anywhere you want to go the markets hot sync your platform on any device with thinkorswim. Only at Td Ameritrade 2016 summer olympic games. They start in brazil in less than 24 hours down in rio. Our number one event on the desk is how to trade at todays competition between the Athletic Apparel sponsors. Pete kick us off here. Im going to kickoff the gold medical. Its going to go to adeedis. What theyre doing is incredible and they continue to do so. Theyre moving away from the huge in terms of putting money behind things theyre pulling back from that but theyre going after individual athletes and its been absolutely amazing what theyve been able to put up. When you look at their sales up 21 this last quarter, the numbers that adiddas is doing right now except russia they are killing it. There was a time when im sure you would have had them os your gold medal. Ive got to admit i wear nothing but addidas these days. I find it sort of fascinating because as much as i live nike i find myself in addidas. Theres no doubt theres a resurgence and pete and i didnt talk about this. 30 . You are seeing a resurgeriness right now from a Price Performance perspective. When under armour and nike is so well and theyve shown a growth. Theyve had a focus on a rebranding effort. Year to date up 61 . Second place would be under armour. I have nike as the gold because when we get to the track and field i think the webco had the speedo suites where everybody had to have a swimsuit that was making you faster. These are suites that people are wearing while theyre running and theyre going to sell a ton of them because there are more runners out there than swimmers in my opinion. I think that nike if they do this right, in other words it cant be a mistake like under armour had with the winter loic olympics and those speed skating suites but if nike does this right they will walk around with gold. Thats what jim has as well. Youre not say not close. Its a question about the stocks more than the company. So you put up that chart earlier all were talking about is the stock. Were talking about how the companies are doing but if you look at the stock, the prices of the stocks did i miss something . Youre not on the view jim. You put up a chart a second ago and it was straight up. Nike has been lang wishing for over a year and is around 20 times earnings. Its the price of the stock. I love nike but their growth is and adidass growth is 21 . The problem i have with under armour is theyre slowing growth. When you have a multiple thats high and you start to crack some growth thats slip acknowledge and thats why youre seeing them where they are now. They are spending money so much in a hury. Well have more markets coming up. Secretary of state john kerry is at a bilateral meeting and he defended the Obama Administration payment to iran denying it was a ransom for prisoners. A North Carolina man was arrested on a charge of conspireing to support isis. He tried to buy an Assault Rifle from an undercover officer and pledged allegiance to isis on social media. He was trying to recruit people to conduct attacks in the u. S. A judge has named a special prosecutor in the case against a Police Officer charged in the murder of a black teenager in 2014. The olympic torch continuing its journey through Rio De Janeiro passing by two local beaches. Look at that. Theres the torch. Crowds were cheering when that surfer carried the torch as he surfed off the coast of rio and they mobbed him as he arrived back on shore. I cant maimagine doing that. Back to you scott. Sell gene got an upgrade. The s p sector heat map. Materials leading the way. Back right after this. Watch us at noon eastern every day and follow us on twitt twitter halftimereport for instant news. Were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. Hello prashant bhuyan. Cofounder of the Fintech Services startup. Hello watson. Your analysis of social media and conversations on various trading floors, helps us uncover insights. Insights that help investors predict market closes, well before markets close. You know, your analysis has helped us improve our predictive accuracy by over 500 . 550. 2, to be precise, but we can always do better. I like your attitude watson. What the rate cut in england may mean for rate hike here. And more on the nike golf story and what it may mean for tiger woods. Were going to talk about golf and i understand why people are quitting it. Welcome back to the Halftime Report. Were watching two big calls on wall street today. Well start with scotts miracle growth. It taps into the marijuana demand and the company has a growth option. Thats an interesting thesis. It was monday or tuesday. She was talking about this stock. We talked about it going into earnings. You liked it ahead of earnings. For all the right reasons for whats working in the market. These guys have some growth. They had some headaches because of weather so may and june were difficult. They still nav gatd through that and they made an acquisition before the earnings were announced. So clearly scotts miracle grow sees the Growth Prospects going into that field. They say its a reasonably valued longer term investment. That new price target is 85 up from 70. Celgene is popping 20 . They dont see it slowing down any time soon. The firm upgrading the stock today. Welcome. Its good to have you on. Its made a sizeable move. Why arent you late with this call . You have to put it into context. The sector has one of its worst runs in the past several decades so really i think were in the early stages of recovery for the sector and when you look in the early stages of recovery in the sector you want to look for those who you think will be the leader Going Forward and we think celgene will be the leader for the next 12 months. The issues that have effected drug pricing, criticism of companies in the biotech and Health Care Space arent going to go away any time soon. Do you worry that some of that is going to come back on the campaign trail and its going to hit the sector again or do you think as some of our folks have suggested its all in there. Everybody knows its all in the stocki stocks and now theyre prime for a breakout. I think its a combination of both. I dont think the problem is going do go away. I think the discussion is going to be there and there will be a push towards rationalization of drug pricing however i think you have to look at the indications where there will be that discussion and i think where they are in oncology and immune olg the value of these drugs is there. These are diseases with debilitating effects and that can differentiate for some of the other aspects of the discussion where these companies are bringing drugs in spaces where we have pretty good drugs to begin with so why is this new drug five times the price of the old drug. What about m a. Theres been a lot of talk about it this week. Right. I think its going to continue to play into the space as valuations stabilizes especially for Smaller Companies i think management will be willing sellers so i think youll start to see them become more active and i think you could see megadeals. Am i thinking that are a takeout candidate, no. I think theyre happy running the business but i think that he have one of the best pipelines of assets within the large cap space and the best Growth Profile by far. Could they be on the board given their specialty in oncology and immune olg of course. Thanks for coming on today. Thank you. What stocks do you like in that space. I like the why didnt anybody own this one. Ill tell you why, this reminds me of a big cap farma but minus the dividend yield. Its a Mature Company and its the sort of thing you look for the cash flow to be redistributed to the shareholders and its not happening. Hes done an incredible job of a turn around. Youre seeing the Strong Revenue growth. Thats a name you would want to focus on. The fact its baxly farma. If you break it down it trades like farvma. Would you go cel gene if you had to make a choice. I think youre going to have to go celgene right now. Lets go to d. C. Now. Im told we have breaking news. Two business groups have sued the Obama Administration over the tax inversion rules that the u. S. Treasury department put in place back in april. Those rules were instrumental in blocking the pfizer deal. Two companies have filed a lawsuit in a Texas Federal Court that said that the regulation exceeded what the law allows the Treasury Department can do. The treasury didnt have the Legal Authority to do those regulations in the way that they did them and therefore they should be undone. You can expect that the Obama Administration will fight this. It might be too late for that pfizer deal, nonetheless and the Obama Administration leaves office at the end of the year. This might be political sparing but interesting the resistance groups are putting up to this. Lets do our trader blitz now. Four trades on four stocks making news today. First up is cheesa peek. It missed on the top and bottom line. Theyre selling off assets. Its recovered a little bit because it was much worse in the trading session and its starting to come back a little. Theyre trying to raise capital because clearly huge leverage. We talked about this leverage and talked about these energy stocks. This is a name that had a lot done on the sheet, trying to raise capital, i still like the name. Quanta is lower. They Service Electric utilities and oil and gas. Even though they got a nice contract their earnings miss is causing people to hit the exits and weak guidance. Stocks down over 8 . Whats going on with metlife today. While the stocks have been in a two year down trend there have been 20 gains. I think its setting up for another one because its so much below the book value and t. Square surges today. Strong usage on the Small Business side. The only question becomes here which company does jack sell first, twitter or square or does he do a special two for the price of one. Is jack worried about the fact that the square looked the thing you put in your phone needs the head phone slot. If you dont have it thats a problem for the sliding of the credit card. When they asked jack about it last night he didnt have answers. Unusual activity in retail. Look at the dow. There it is. Visa is leading the way. Dow is up four. Were back right after this. The Halftime Report is the place for market moving interviews. You dont call a company a sewer because a company made a mistake. Real money. Were short. Real debates. People think globalization has hurt businesses. Its not. Its technology thats hurt businesses. Competition is a good thing. I dont want to go back to a single marketplace. The most profitable hour of the trading day. I love the show. Im on the show. Its the greatest moment of my life. The Halftime Report week days at noon eastern. Approaching medicare eligibility . Dont put off checking out your Medicare Options until 65. 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The roadchip to food safety starts at foodsafety. Gov. We are back. There you see boys have made it over to the telestraighter for usual activity. You would never guess. Its right there. Its funny because i would expect pete to talk about it. Yesterday i bought kate because of that big dip and it came 9 off that bottom. Today theyre in there buying tjx aggressively. Look at this one. Theres the year to date chart. Its up at the all time highs and looking like it wants to break through there. They came in and bought the 8250 calls which were another 1. 50 where we are and theyve moved up quickly from around the 1. 10 level to 1. 50. Ill probably be in these right around two weeks again. Love the action and obviously love the stock. So youre just in the options. Im only in the options and not in the stock. Youre in the stock or no. Not right now. I was in the calls but im not in there now. You have retail as well. Give me a trade update over there. Tuesday we talked about gap stores and the fact weve seen this nice bounce in the stock. You can see the stock itself in the last week youre not seeing it but you see this drop. On tuesday they started coming and they were starting to buy the 25 strike calls that expire tomorrow. If you take a look they started buying those at 15 cents. Those those at 15 cents. Those had a pretty nice, significant move to the upside. Today, as a matter of fact geez, theyre even a little higher than i thought. Theyve made a huge move from that 15 cents. They bought 4,700 of them on tuesday. Thats a giddy up, scott. Good stuff. Guys, thanks. Wheat, corn, soy beans all selling off over the past month. We go to the futures pits for those trades coming up in two minutes. Welcome back to the Halftime Report. Im Jackie Deangelis reporting from the nymex. Joining me from the floor, some futures now time. Were talking about the ags today. Im hearing its an oversupply problem, jim. Is that what youre seeing . That is what im seeing. Im sure all you new york people think us in chicago look out our backyard to check out the crop report, and thats only mostly true. It is a very good growing season. I have seen that firsthand. American farmers are becoming very good at getting corn out of the ground. Weve also got to remember that theres a real live Global Economic slowdown happening. Plus, the dollar is consolidating at pretty high levels. I think corn goes lower from here. Your view, anything you particularly like in this space, think is a safer bet . Right now, i think everybody is troubled. Were growing a ton of corn. We have the third most acreage in corn right now since 1944. We have fantastic yields because of weather. And in corn, we also have two billion bushels from last year thats still in storage. So its almost oversold. But i would give it some more time. Let it come in just a little bit longer before i think about getting along for a little bit. Were talking more futures on the online show, 1 00 p. M. Eastern time. Peter is giving us his predictions for the market. Helma kroft on where oil goes from here, 1 00 p. M. All right, great day to have both of those guests. Three hours left to trade. Were looking at whats likely to move after the bell, thats coming up next. With usaa is awesome. Homeowners insurance Life Insurance automobile insurance i spent 20 years active duty they still refer to me as Gunnery Sergeant when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and im a usaa member for life. Usaa. We know what it means to serve. Get an insurance quote and see why 92 of our members plan to stay for life. Announcer when they test you, stand firm and move only when you hear the seatbelt click that says theyre buckled in for the drive. Never give up till they buckle up. Using 60,000 points from my chase ink card i bought all the framework. Wire. And plants needed to give my shop. A face. No one will forget. See what the power of points can do for your business. Learn more at chase. Com ink tech stocks are on the move. I want to show you twitter, ali. The twitter ramp, the rumors and speculations and Everything Else about what that companys future could be. You got a no comment yesterday, right . I think you said. When you reached out, you got a no comment from vollmer or Something Like that. Thats right. I think theres more to the story than meets the eye, quite frankly. I had to jump in there yesterday, only in the options. Now im in with john. What about some of these other names . We havent talked about alibaba at all in months i think on this program. That ones got some strong buying. I think at the 85 strike judge and calls, and one that josh brown talked about last friday i think. Nvda. Exploding and tons of option activity in that name. Nice call by josh. How about jack in the box . Were watching that one as well today. You have some thoughts on that . Lets take a look at the move there. Continues to move higher. This has been a strong performer yeartodate. Its approaching the 100 level, which i believe it will exceed. Keep in mind, this is not just a burger story. This is also about mexican food. They own qudoba. You have to wonder if theyre taking some of the i dont wonder, i know they are. Chipotle. Absolutely. Qdoba is phenomenal. Those two have competed. Very similar concept. No doubt about it. Lets move to second half trades. Theres a lot to consider, obviously. Youve got the jobs report tomorrow. Dont want to overlook that. How do you view the market right here . Give me a second half trade. Real quick, i think the market is fairly priced. You certainly cant call it cheap. You have to look for value areas. Im including thin that apple. I think you have to look at cisco, which is a name that pete likes as well. Its a multiyear high here, and seems to want to go higher. Joe, what do you got . I go back to the jobs report tomorrow, and back to the conversation i had earlier, i do believe that jackson hole, the conversation from the Federal Reserve, they reset the narrative. I think they might throw the market a little off sides. You have a stock for me . Or just that view . Thats an overall market call. I want to make sure i didnt skip over something. I think its relatively low bar for them to step over as pete has said earlier in the week about earnings. I think they will do that tonight. Its already up 3. 3 today. Anybody own it here . I dont own it yet. Pete . I think its pretty fascinating. Under 40, we made such a big deal. Starting to move towards 42. Ill see you tomorrow. All of you as well. Thanks for watching. Power starts now. Im brian sullivan. Welcome to power lunch. Heres your menu. You can call it the brexit bazooka. A time to bet on trumps comeback plan. Whats happening behind closed doors to get his campaign back on track. And then just dump it it. The 700 million bogey that has sports fans questioning the future of tiger woods. Power lunch with london calling. Never a clash. Starts right now, tyler. Lets talk about the markets right now. Welcome, everybody, to power lunch. Dont let those numbers fool you. Even though the dow is jus