Valuations, and when youre hitting major levels to get to another new let them, you always bump up against it and come back here youve got the added factors of, number one, a weaker dollar, which is, as he saw in the report yesterday, pushing inflation higher, that was the clothing aspect of it. What ive done over the last few days is ive added some positions that i had i initiated a couple of new positions. In what bungee. Bungee came down dramatically after their Quarterly Report theres lots of talk about an acquisition, maybe adm, their approach last year if it doesnt happen, its a place i want to be because Agricultural Prices are also down, i think its temporary i also bought back delta it hasnt moved up as much as the others ive added to baba, i added to apple, actually, just for pete nicely done, smart move so i think were okay but its time to pick stocks everything is not going up pete, who is to say this v recovery doesnt turn by a w and why wouldnt it . It usually does. The swoons of most recent memory, and dan nathan on the 5 00 show pointing this out on twitter, august to september of 15, januaryfebruary 16, right, these v recoveries that turn into a w. Why will this time be different . Where the pressure is on is where were testing highs, scott. When you look at whats going on in the market around us, how about the fundamental story . When you come back off of all this volatility, and we talked about this the other day, and you had a great young lady on the other day talking about volatility in general, in all different aspects, but the reality is, the time at which the volatility is going to be somewhere at 30 or above is very limited. I shouldnt say it cannot. It would be unusual for it to stay above that 30 number, 2 move, every single day here we are back towards 20. Do i think were completely out of the woods absolutely not could we dip lower i dont think well go lower than we were and i dont think well get down to where we pushed down in terms of the lows josh, if we retest those levels, it will feel just as unsettling as it did before. Now weve come back 60 and counting so youre up 1,750 dow points since friday, which is insane. The whole thing is insane. If youre a rational investor and your time frame is anything more than 48 hours, it wouldnt be the worst thing on earth if you were to retest last weeks do and do it on lighter volume and maybe had some leadership stocks that are the not red alo with the Overall Index sellers didnt materialize, buyers camein where they came in last time, thats a base to build off. This activity, down 10 , then right back up to the old high. I dont think it helps anyone. If we fail at that old high, psychologically way worse than a low volume retest. So were doing were talking tea leaves at this point, scott. Nobody knows why it got down so local, so quickly. When we get away from the low, we get more confident i dont think thats right. I think the tactical traders with this lift that theyve had, maybe the better play is to lighten up a little bit. And the better play for long term investors is to pay no tension attention to any of it and hope you get a chance to buy more depending on your time frame will dictate how you think about either a retest or a race back to the old highs either one, were right in the middle, either one is equally likely theres no reason to say one is more likely than the other you have tech leading once again. Joe, nasdaq has recovered 75 of its losses so here we go again, back to what worked. Okay. So whats your discipline . Thats whats important. If your discipline is managing a portfolio, you have not made significant changes to your portfolio. You have looked at bondlike proxies and pared back those allocations. Youve looked at emerging markets and maybe you bought into some of those names today, utilities are higher. If im managing a portfolio, theres your opportunity, pare back allocations this remains a derivatives tactical marketplace even with the market moving higher what youre seeing is continual tremendous volumes and turnover in the futures market. I would say from the people i talk to, and myself included, i think there is a lot of surprise that we have made this v rebound. I think most people expected it to fail by now because throw up the tenyear exactly yesterday it went to 291 and the chatter amongst everyone was, oh, boy, were going to fail and we tried to fail at a certain point yesterday, and we snapped right back at the end of the day. But the environment that were in right now has not changed over the last couple of weeks. This is a great Derivatives Market and if youre a trader and youre active, its a its a trader market. Its also an investors market think about the opportunities weve seen over the last week and a half or so last week you said, pete, what are you finding to buy how about like a vmw that was down 30 plus percent there are opportunities from an investment and a trading aspect. If they sell off the financials again and give people an opportunity, we talked about bank of america, they sell that off unjustly those are opportunities, not just to trade but to invest. And i added to be evasive you talked about delta. There are plenty of examples where theyre not just trading these are investments for the longer term. If youve got the room to buy it right whats going to determineif we go lower again or not jay powell. Is jay powell afraid of deflation or is he afraid of inflation . We know hes a hawk but he works for someone who is not going to again can i put one thing out heres whats cool about rate fears, rate fears have a selfcuring mechanism, because the modern fed is obsessed with the s p 500. So if the market goes down 10 , and then does not recover, then goes down another 5 , and the titular reason in the press, and we know that fed officials also Pay Attention to news clippings, you could argue they shouldnt, but they do, if the titular reason for that decline is everybody is freaked out about rising rates, then guess what, the traders in chicago will start pricing the latter right hikes that theyre pricing at 100 more like 70, 60, we saw 44 last week, because everyone understands that the last thing an incoming fed chair wants to do is, a, rock the boat, b, get fired by the white house, and c, be the one thats responsible for taking a slow growth building economy and reversing course so nobody should think that were going to have a 30 selloff on rising rate fears, because the prospect of rising rates will disappear as stock market valuations and its not about rising rates. Its about the velocity of the rising rates, right . We keep coming back to that. Thats the real story. And, you know, give jeff gunlock all kinds of credits he talked about 2. 91, here we are at 2. 88. Its about the grind now, scott. If we grind and start going higher, markets can digest that. If we start spiking, thats a problem. Spiking in terms of velocity in the move to the upside im talking about the rates im talking about we had a spike in rates yep and we had the big concern now weve had a spike the other way in stocks. Not all stocks. Not all stocks not all stocks but enough of them. As the market has recovered, a number of stocks have recovered almost all of their losses dom chu is at the wall to take a look at some of the names that have had a big come back guys, ive been listening intently to your conversation. It echoes my sources of where they think the tea leaves are. We wanted to take a look at stocks that have made recent highs, 52week highs, multiyears, or record ones, and that have pulled back and recovered all that ground. The s p 500 right now, 93 companies are within 5 of their record or 52week or multiyear highs, recent highs anyway 81 stocks have hit their highs, 52week or better, just this year alone 13 have happened just this week alone. Take a look at some of these names, Vf Corporation is one on the apparel side of things, within a half a percent of record high levels northrop hit a record high today, just today. Tapestry, the Company Formerly known as coach, within a percent of its highs cme group, exchange operator, 1 away from its high nike, dow component, within 2 of its record high levels as well i would point out that cme group, northrop grumman, vf corps, all in trading today, hitting record high levels themselves, guys this is really important. Every one of those is an idiosyncratic situation where all four of us could tell you the nominal reason why those stocks have held up better and are closer to their highs than their respective sector industry group. Cme is a great example here is a company that literally thrives on volatility. Whether were talking about fixed income because of the contracts trading on treasuries or commodity that is a stock that should be close to highs, especially given Financial Market activity picking up i can go down the list, im not going to its important not to look at those and to extrapolate a bigger story for the overall market because when you look at energy companies, nowhere near the highs. When you look at utilities ill stop you there was a list of 50 someodd stocks understood. If not more the markets got a condition to discounting the news pretty quickly. Look at north korea. They fired one missile the market peaks they fire another one, another one, doesnt matter. Same with rates. We go to 2. 91, comes down, now were back up. The market says, didnt matter while i agree with everything everybody said, if you do go over 3 , and you do it in the next few weeks, week, month, were going day to day in terms of inflation reports and that will condition the market more than anything else powell, of course. But while i bought stocks, i dont have the exposure that i had in the market a month ago. Nowhere near it. Because im concerned. The stocks i buy now, im Comfortable Holding for a long, long time. Some are clearly wondering whether we have come too far, too fast on the way back up, the socalled v bottom mike santoli is joining us from the Stock Exchange with that side of the story. Scott, in line with what you guys are talking about, what josh is taking, would it be the best scenario if we race back up to the old highs looking at the velocity of this come back and the fact that we havent let up in the last few days makes you wonder if were going by that traditional playbook i know you guys all understand how its comical in a way, after you get a big jolt to the market, a correction, everyones a technician, just like when the hurricanes come in, everyone is a meteorologist. The fundamentals dont move as fast as the prices theres a reason these rules of thumb existed. Was it a reflex move responding to oversold conditions right now i do think the s p is at a level where maybe it will prove whether its moving too far. Its at a very obvious level, maybe where it should stall out and settle back down its near last weeks highs, all that stuff i do think i can understand why were not patient, waiting around necessarily to see if we get lower prices its because what was everybody saying in january who studied history . What was i saying . This market is crazy, its ripping too fast to the upside but after you have a meltup like this, the first jolt down is not the big one. Everything thinks this is not the big one, so youre going to buy it right now, the next couple of days, well see if in fact its showing signs. I went back and looked at october 97. The pattern looks really similar. You didnt have a true retest there. We cant be very dogmatic about exactly how this rally, this rebound is supposed to look in terms of its pace and rhythm no, but maybe the truth comes out, as you say, were way overbought in january. We probably got oversold in february, and now lets get the truth. Where do we deserve to be, what level of growth do we think were going to achieve i totally agree, scott. Thats why its a good thing were no longer talking about all the crazy historic streaks, weve been forever without a 1 drop or 10 drop now its, whats the right price . Maybe we got that forced selling from the unwind of the products that got us lower, who knows exactly what it is but i think think this pushpull will continue in terms of whats the right valuation in this kind of environment with rates and in inflation doing what theyre doing. Great points by mike santoli. The conversations i have with investors of all types, its no longer what are the levels its, does this have another quarter, two quarters, another year to go its a time factor those conversations without exception, im engaged in too. I think weve got two more quarters before we get to levels then the market is going to discount that ahead of time. Its not that all stocks will go down but only the ones that have the idiosyncratic stories that are going to rise. Youve got to get rid of the junk, get rid of the rising tide stocks and go with what youre comfortable owning the thing is, though, in it large part, as you said, its been a rising tide market. Who is to think that thats really going to change if tech resumes its leadership spot, if big industrials do, because youre talking about infrastructure or a weaker dollar, i got a story for that too. I can say small caps are going to do well because of the tax package thats now a law absolutely. But if you take a look at whats driven Global Markets, Global Markets over the last few months havent been driven by our tax plan whats driven them is the synchronized Global Economy thats been abetted and actually commenced with synchronized global easing. Now were reversing that trend, doing it slow in some areas. And thats what the bet is when that starts to get to the level, people say, you know what, ive had enough, made my money, im gone. I think its a great time to have a plan. Because always, though. The mistake that youve made, and ive made this mistake numerous times, when you see volatility spike and range of expansions in the markets, you tend to focus on the s p and you almost become an indexer yourself thats the wrong thing to do wrong things to do. To petes point, i picked up six names over the last two weeks. Three or four are great. Northrop is one of them. Ab v, apple. Those are the names youre tactically looking at. Over the next couple of weeks, knowing buybacks will be there, im comfortable with that. As we approach jay powell, ill be less comfortable, probably sell some calls or pare it back. Thats the right thing to do right now. Not to be critical of what youre talking about, but the right thing is to take advantage of that volatility you bought those stocks, you got a 30 on the vix plus, thats when you want to start getting the juice out of the options on the upside you should have sold them before because when you get that opportunity and youve got that stock, we talk about this all the time, when are the options really inexpensive when its trading at ten, when youre buying options to the upside or protection but when the volatility is higher, you want to sell your positions. The sector is up more than 6 in a week. Chris whelan is the chairman of whelan global advisers, chris, welcome back, good to see you again. Good to see you guys. Rates are going up, this has to be good for the banks its helping. You can see the interest margin expanding. But youre also seeing credit costs vary slowly, go up the bottom was 2015 for credit so were in a mature part of the credit cycle and i think it will be a minor to medium factor Going Forward its certainly not going to help earnings credit. They were taking reserves out for many years, as you know. So overall, i think Rick Santelli said it, well still in a very strange environment big banks are one of the important sectors this year. Bank of america, for example, how do you not take that off the table, given that were in this transition you know, i cant say that theres any ranging values, other than wells, selfinflicted wounds, theyll get it right eventually pnc, great value, 1. 6 times book you dont sound all that giddy about the space you live in at all. No. The last point about selling against these positions in the Options Market i think is absolutely right over time, if we do get a 3 or 3 1 4 or 3 1 2 handle on the tenyear, i think the banks will have to reprice obligation to actual earnings. 10, 11 equity returns lets be fair. Chris, assuming a decent amount of total return is going to come from dividends, why would you spend the Dividend Income you have coming in on option premium i dont understand the strategy. Then youre just isolating the capital gain part . No, but in those periods of volatility that i think we will get as the Central Banks step back, and we really see the cost of volatility. We dont see it now. Im sorry, the Central Banks began to step back at the end of 2014, right . Ehh the fed is not going to sell anything, josh there will be no outright sales by the fed the prepayment assumptions are too conservative theyre going to be a presence for a while. And the others, well see. We hope, right pete . I mean, whalen is telling you to take profits in some of the big ones can i ask a quick question . Chris, im still curious, you say the banks are fully valued my question would be, how about a goldman sachs, for instance . Mmm a name like that where obviously trading volume, the trading the money from trading has been obviously something thats been a real headache yes with this volatility coming back into the market, with whats going on in the commodities space, doesnt that bode very, very well to those that have done well, despite the fact that the fic has been as low as its been, but the potential for that to be part of their earnings once again . No, i think youre dead right. The Central Banks, by holding all of this paper, have killed market activity. Nobodys hedging these positions. So yeah, i think youre right, goldman will eventually see trading come back. The other houses as well to hopefully Something Like a normal level but i think the past five years, the bankers have been killing the volatility in the street even mortgages, mortgages will be down another 10 this year on volume theres no hedging the street makes money on that business i think youre absolutely right on goldman chris, are you not excited about the possibilities for less regulation in financials and a lot of the cash thats been trapped on these balance sheets, the ability to get out of there, maybe ccar itself, allowing them to have favorable allocations strategies these banks are overcapitalized. I dont think we need to raise the capital. Whats happening is that the regulators on the one hand are being less obnoxious in terms of compliance, modeling, all the rest of this then on the risk side, theyre actually telling the banks to derisk a multifamily theyre telling them to be careful of c i loans theres a 300 guidance that has just become a cap, by the way. Banks will be shy on lending on Asset Classes that have had a great run for the last two, three, four years. Multifamily, my god, corporate c i growth was great, but its slowed the occ particularly is telling the banks that they want to see those numbers come down. They look at the gain in the collateral and it scares them. I think theres some valid concern there. Two quick things before i let you go do you own any of the big banks personally no. I own fintech. I own square for a while i own paypal i own nrz. The Conference Call by mike nearenberg the other day was interesting. What kind of statement is that the guy that i want on to talk about the big banks because he knows them as well if not better than anybody, comes on and says i dont own any of them, what am i supposed to think . Thats not the sweet spot for me the best returns in the industry are community banks, growth, great equity returns then if i were going to go long any of them after a selloff, going back to petes comment, i would look at the pncs i would rather own a bank that can grow the big guys arent allowed to grow there was a joke at wells fargo, oh, they wont let us grow do you think the fed went too far on wells fargo they have the power of god. They should have acted immediately when it was clear this board didnt get it that was very clear early on its a year and a half later now and yellen takes care of this, sort of, on her way out the door i dont think that was the best way to handle it i think this is a distraction and its going to be solved by the new board members. Theyre going to replace everybody, pretty clearly, right . I think wells is a great bank, you shouldnt take this as a long term issue. Chris, appreciate the time as always have a great day, guys. Thoughts on the desk . I disagree completely i think hes looking backward. You have net interest margins increasing, spreads widening, thats when you want to own these. While some of that has been discounted, i think theres lot more to come number two, the economy is still improving. While you may see slower loan growth, hes saying that in mortgages, but youre seeing it elsewhere in bigger spreads. How much of all of that is already in these names i dont think all of it is in there. These names went up when the rates did nothing. The whole market is going up. The ccar is regulations story is not in there. I think hes discounting it way too much lets jump over to Morgan Brennan with a news alert. Hey, scott fedex, a reuters report that fedex customer records were exposed by an unsecured server the big takeaway here, that according to this report in reuters, that there was data, about 119,000 scanned documents from u. S. And international citizens, passports, drivers licenses, et cetera that were sitting on an unsecured amazon s3 storage server but that fedex has now taken steps to secure that so no hack here. Simply a matter of data that had been unsecured and is now being secured. According to this report, fedex saying there is no indication that any information has been misappropriated and will continue its investigation but of course it comes on the heels of hack attacks on fedex last year including that big attack during the summer that did have a Material Impact on earnings last year back over to you morgan, thank you so much, Morgan Brennan with the latest on fedex a lot more ahead on is the Halftime Report today next up, a top analyst on under armour says beware of the stocks 38 run on the week. His new warning, next. Plus the Health Care Stock another wall street analyst says is about to soar the Halftime Report with scott wapner and the traders is back if two minutes and energy to fuel its growth. Real estate such as ecommerce warehouses. And private debt to finance transportation and infrastructure. Building blocks of strategies to pursue consistent returns over time from over one hundred fifty billion dollars in real assets. Partner with pgim. The Global Investment management businesses of prudential. sighs i hate missing out missing out after hours. Not anymore, Td Ameritrade lets you trade select securities 24 hours a day, five days a week. Thats amazing. Its a pretty big deal. So i can trade all night long . All night long. Is that Lionel Richie . Lets reopen the market. Mr. Richie, would you ring the 24 5 bell . Sure can, jim. Trade 24 5, only with Td Ameritrade. All right. Welcome back to the Halftime Report. Under armour soaring this week, the stock up 35 after the Company Reported Strong International sales growth not everyone is buying the hype. Sam posener reiterated his opinion of the stock hes at the new york Stock Exchange for us today, sam, welcome back happy to be here. You said this company was in trouble, sell the stock. They come out with an Earnings Report that sets the house on fire and the sales rip higher. Why do you say dont believe the hype first of all, the numbers were good. The Gross Margins were better. And the inventory levels were through the roof which is telling me that theyre not adequately addressing their problems they did mention that they would be that they would be resolving that problem in Second Quarter of 18 but if theyre going to do that, thats probably just going to put more pressure on the brand plus specifically in asia, were seeing the ebidt margins contract significantly in absolute dollars as well as percent, which is not that unexpected right but youre not willing to i mean, look the stock got down to 11, okay . The situation is still bad enough where it could breach that level you dont think that was the bottom, that the worst is over i think theres a lot of very hopeful people i think that, you know, a lot of the hype, as you put it, you know, theres a lot of talk about a new running shoe, their hover shoe my checks are saying its not doing that well. And i mean, you just think theres a lot of hope here and not a lot of reality yet i think things are still getting worse until they decide to make some very hard decisions sam, i agree with you completely and i think a lot of the was attributable to shortcoming and people dont want to miss out on a stock recovery and a Company Recovery to me it was just better than expectations and thats why it drove it inventories, you have to watch let me ask you this. On a fundamental basis, you look at valuation of this, and you can even be a little optimistic on 19, what should it trade at, what multiple, and where does that put the price well, i mean, look. The thing is, weve been at 11 a long time. Weve been at 11 with both a negative rating and a neutral rating and, you know, look, we understand theres lots of opportunity for this company could the stock go higher . Certainly. Could it go lower than the price we have . Certainly. We think where we are is fair. Sam, ill ask you about a multiple of earnings where should this trade relative to the others . I mean, given that the growth slowed down, it should be under the others, although it does have big opportunities nationally you said international is slowing down in terms of margins. Its slowing down in terms of margins. Some of that is structural, because they took some of their business inhouse so they reported it as higher sales, but your gross margin percent goes down im not crazy about this company. Weve been at 11, were going to stay with it. Could the stock go lower, it certainly could. About it what we see happens and they dont address what we believe are the Serious Problems as far as the brand equity composition that it has. Sam, its josh brown what would be the number one signal to you in terms of what the company itself does that would make you change your mind, do you think whats the one thing that would say, okay, i might be too bearish . I mean, look. I think if they get out i just think that they need to really learn how to segment the brand. The move theyre making now is saying, look, were going to do our Better Business direct to consumer and were going to grow the business through a more moderate channel thats how it looks to me. And the problem is doing that is, these Companies Need to be up against the best competition to do their best and if you isolate into your own little world of direct to consumer, youre not directly at battle with in this case a nike. We think theyre better off, you know, wrestling with them and becoming better that way rather than trying to do that through direct to consumer, which we think, you know, will be fleeting, because they wont it will isolate themselves too much sam, ive got to split, but why do you have a neutral on nike because we think its a great company, we think that the domestic business in north America Needs to grow midsingle digits to make the numbers, to hit that 50 billion number. We think that its sort of really the law of large numbers with the United States and they have to act quickly and combine scale and scarcity and grow the business. We think that combination will be very, very difficult. And we just dont have the vision to it yet i believe well know more by the middle of calendar 18 sam, appreciate the ime, as always well talk to you soon thank you very much thank you sam poser. I want to add something to the end of that. Lets talk about the technicals, sentiment changes based on price. Its too soon to short it. That doesnt translate into buy, buy, buy this is a stock that dropped 70 over three years weve sold that at major inflection points, twitter this past fall, the price goes up and all of a sudden the upgrades come this could be a similar scenario an island reversal is a gap lower, a consolidation period, and a gap higher thatalmost puts an end to that episode in time i dont know that youre getting this name back in the low teens again, if the buyers hold where it is. I dont know that that means it goes right back to 30. All im saying is, you have to Pay Attention to market signals as much as you would Pay Attention to mr. Poser, because quite frankly, the upgrades will come, 20, 30 off the bottom, not at the bottom. All right sue herera that wasnt good . Whats with the smirk . It was excellent. Sue, what have you got thanks, scott President Trump is calling for healing and peace one day after a 19yearold man was accused of killing at least 17 people at a florida high school. Mr. Trump saying his administration will work to improve School Safety and address Mental Illness our administration is working closely with local authorities to investigate the shooting and learn everything we can. We are committed to working with state and local leaders to help secure our schools and tackle the difficult issue of Mental Health the suspect, nikolas cruz, arriving at the Broward County jail this morning, surrounded by officers, handcuffed and wearing a hospital gown. Hes been charged with 17 counts of premeditated murder the new york Stock Exchange held a minute of silence at the opening bell traders stood in silence as a single toll of the bell was running in respect for the victims of that shooting that is the news update this hour the Halftime Report is back in just a minute. Feel that . Thats the beat of Global Markets, the rhythm of the world. But to us, its the pace of tomorrow. With ingenuity, technologies, and markets expertise we create the possible. And when you do that, you dont chase the pace of tomorrow. You set it. Nasdaq. Rewrite tomorrow. I thwell wait. What did you meetthink about her . Its definitely a new idea, but theres no business track record. Well, have you seen her work . No. Is it good . Good . At cognizant, were helping todays leading banks make better lending decisions with new sources of data so, multiply that by her followers, speaking engagements, work experience. Credit history. That more accurately assess a business chances of success. This is a good investment. Shes a good investment. Get ready, because were helping leading companies see it and see it throughwith digital. Were back shares of bristol are heading to a 18month high after Morgan Stanley upgraded the stock for the first time in over a year, the firm raising its price target to 78 bucks, the highest on the street. Its our call of the day Pete Najarian. The growth there over the next five years, all of that makes sense. I think many of these names you can lump together. Bristol meyer of the big pharma names trades the most like a biotech, because of that it gets that extra torque. Over the last couple of weeks its been extraordinary to the upside im not in this, im in gilead, im in celgene why was bristol a dud last year the market killed it. It had a couple of huge setbacks along the way, scott, where the stock got absolutely crushed on a couple of occasions that they couldnt recover from. The trade yesterday, and i took advantage of part of it, was nectar, which it put 2 billion into that stock was down news, which seemed ridiculous. I sold it, i just happened to be in the office. Thats the kind of stuff youll continue to see. Thats why biotech is going to continue to move every drug company, amgen, you name it, has said, im buying, i want to make some acquisitions i think the name im in, stephanie link got me in, the growth att abvie is phenomenal coming up, the controversy over chipotle. 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Weve helped the Marine Mammal center go solar, install electric vehicle charging stations, and become more energy efficient. Pg e has allowed us to be the most Sustainable Organization we can be. Any time you help a customer, its a really good feeling. Its especially so when its a customer thats doing such good and important work for the environment. Together, were building a better california. Were back on the Halftime Report. Chipotle is flat were following it because we were not here yesterday to react to the hiring of taco bells ceo, mr. Niccol. The stock roared on that news. We had a debate on the show a while back you had no faith that ackman and company, if you will, with a going to find the right ceo. But you said you liked the move. I think the guy i went through the guys history when it was announced i actually bought the stock yesterday, traded it, because i thought that it had overshot you bought the stock yesterday . For a brief period. It overshot on this hiring this guy didnt tell me that. I had to find stick puppet weiss. Can i defend steve . Number one, he has not been bullish as the stock has gone from 760 down to like 200. You need a bigger platform. Now you have this thing up 10 and were hitting a pinata with a bat i dont know about the celebration. It looks like a good executive i have no idea but thats number one. Number two, the mark of a professional is someone who can accept the fact that things have changed and maybe their opinions should change. So i think actually steve should get credit for having an opinion, the news changes, and now he doesnt come on the show and say, no, i was right before. Hes saying, okay, i had one view, fundamental development, i have a different view. Thats actually what hes supposed to be doing wellsaid i tip my cap to you what he said. I owe steve weiss 20 heres the story Going Forward. The guy is a great executive what he did on taco bell, which was im happy to let him talk again. He did a heck of a job. The story of taco bell, what he did on taco bell was exactly what panera did. Whats your favorite thing at taco bell . I dont eat meat. Is there a fish taco there is, actually. Dont get into the menu items. Heres the story. We got the world hanging on my every word about chipotle, obviously. Here is the story on it. Hes got a big job tolerance a lot of the stuff he did at taco was new at the time, okay hell think of some other things new to do here im talking about digital, catering im glad you were here to recap. I was glad josh was here. In fact you didnt even have to be here i should have just given it to josh. Next, pete tracks bullish moves in an entertainment stk. Oc whats Critical Thinking like . A basketball costs 14. Whats team spirit worth . cheers whats it worth to talk to your mom . Whats the value of a walk in the woods . The value of capital is to create, not just wealth, but things that matter. Morgan stanley wim really grateful that usaaq. Was able to take care of my family while i was overseas serving. It was my very first car accident. We were hit from behind. I called usaa and the first thing they asked was are you ok . they always thank you for your service, which is nice because as a spouse you serve too. Were the hayles and were usaa members for life. See how much you could save with usaa by bundling your auto and home insurance. Get a quote today. Weve been preparing for this day. Over the years, paul and i have met regularly with our ameriprise advisor. We plan for everything from retirement to college savings. Giving us the ability to add on for an important member of our family. Welcome home mom. With the right financial advisor, life can be brilliant. [fbi agent] youre a brave man, your testimony will save lives. Mr. Stevens . This is your new name. This is your new house. And a perfectly inconspicuous suv. You must become invisible. [hero] ill take my chances. Were back Pete Najarian is looking at an entertainment stock. Theyre betting on it because its beaten down theyve got earnings coming next week on the 21st, scott its pretty interesting. The stock was trading at five bucks earlier this morning somebody walked in and bought 20,000 of the 5 1 2 calls that expire next friday, within that span of earnings going there. I bought along with them they were trading for 33 cents i give you those prices so you know where the stock was and where the options were because the stocks moved up 30 cents since they started ill be in this very, very short term i have a quick update for you as well mt, we talked about it yesterday, arcelormittal, the amount of volume went from 4,000 to 12,000, really aggressive i took half. They were 36 1 2 calls, march 2 expiring that had a nice spike this morning. Going back over here. Bitcoins recent run next on half time report. Is the monolithic view of emerging markets obsolete . At pgim, we see alpa in the trends, driving specific sectors of out performance. Where a rising middle class powers a booming auto industry. A leap into the digital era draws youthful populations to mobile banking and ecommerce. Trade and travel surge between emerging markets. Everyday our 1,100 investment professionals around the world search out opportunities for alpha. Partner with pgim, the Global Investment management businesses of prudential. Welcome back to the half time report, im jackie deangelis. Bitcoin futures are rallying, crossing above the 10,000 mark for the first time in two weeks. Bitcoin is down 50 from its alltime highs in december did bitcoin find a floor do you see more room to fall here i think it might have, jackie 6, w000 was a key support level. But the factor is the lack of regulation thats on the market. Congress last week said the exchanges should try to regulate themselves rather than them stepping in. That lifted a lot of uncertainty over these markets theres a few small other coins that have been tapped for payment, exchanges, things like that but the trend looks higher at this point. Brian, whats your outlook from here . Well, when you look at it and you talk about the exchanges and in korea they seem to be easing back off of what they were going to do in terms of banning cryptocurrency changing their tune a little bit. That took boyne higher also look at it, cryptocurrencies and bitcoin have been tracking closely to the u. S. Dollar and as that sold off in december so did bitcoin now were seeing that separating apart so bitcoin is picking up strength here, jackie, where you can play it to the upside. Lets watch the u. S. Dollar, we need to get that back up to 09 bucks for bitcoin to take another level up but the move from it in the last few days here is positive for getting back to the 10,000 mark. Today on the live show were joined by Louise Yamada of Louise Yamada advisers, shell tell us what she sees next for bond yields plus tom kloza will break wndo his latest. Final trade with the half time guys next. This is where i trade andrs. Manage my portfolio. Since i added futures, i have access to the oil markets and gold markets. Okay. Im plugged into equities trade confirmed and i have Global Access 24 7. Meaning i can do what i need to do, then i can focus on what i want to do. Visit learnfuturestoday. Com to see what adding futures can do for you. It can power your apps with Public Services without starting from scratch. It brings your business up to speed, doing more with systems you have in place. It can bring all your apps to life and run them within your data center. It is. The new ibm cloud private. The cloud thats designed for your data. Ai ready. Secure to the core. The ibm cloud is the cloud for smarter business. Well take positions on earnings which are on deck coming up, shake shack oh, yeah. Cocacola oh, yeah. Beer . Josh, shake shack . Ialso own deere. Shake shack it came off the bottom. Dude, shake shack is only one of thenames i thre out got a reaction and that was shake shack. I also own deere. Lets not waste time with your fat shaming. Shake shack just wrong. Shake shack is a stock i have that buying in the doldrums when a lot of people gave up on it. It had resistance at 40, lad a nice rally at last report, low volume pulled back to 40, i think thats a got setup i dont know what the report will be but its a good setup for intermediate to longterm investors. Possibly get a doji. What about deere which you own as well . Deere is a stock that will live and die by farm incomes and global growth. Both of those are expanding. Deere has spent a ton of time in the penalty box. Broke out a couple years ago. Joe, got a name. Marriott, cant wait for the Earnings Report, s p just increased 2008 lodging budgets by over 2 i think it will be a strong report. We have a viewer question for steve weiss. Heres the question. About a month ago mr. Weisss final trade was xle, should i stay and how long . Its 55, maybe 50 to 65 so im not compelling to play id say wait, final trades, we have 30 seconds left. Going towards earnings but i already own coke but cocacola this thing is going higher i like the diversity outside of carbonation. Granite construction, gva i think its a buy. Josh brown . Cisco, this thing has broken out massively on a multiyear basis. Up 7 joseph . Twilio, crm owns 1 of. It thanks for watching, power lunch starts right now im Michelle Carew suso cabr. The dow and the s p recovering 60 of the points they lost. The nasdaq recouping 75 is the rally back on track one stock thats fuelling the comeback is boeing, already up 20 this year alone and more than doubling over the past 12 months can boeing keep flying high . Ceo lays out his flight path and think you didnt have any exposure to all those crazy volatility trades . Think again. How some of the biggest Pension Funds can be making risky bets to get that alpha. Wait until you hear about
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