Najarian and steve weiss and bob lebenthal. And so what are you seeing here with the end of sports a authority, and what about this pain . Well, the Sports Authority is the gift that keeps on giving, and i saw the big bankruptcy sign, and judge, did you see the same thing . 10 off . Who does a liquidation at 10 off . Nobody. You know what i did when i saw that . I marched out. Exactly. They better have a lot of money, because nobody is buying money at a place that has a 10 off going out of business sale. Just getting started. But is it going to hurt under armour, and all of these are a death by a thousand cuts, and yes, it is going to affect under armour, and nike, and also, to a smaller extent, but those aret not the big things, and the fact that the olympics are not something that is going to be nearly the driver that they have been in the past, and that is my feeling, because of zika and a whole bunch of other distractions, i think that people wont be as geared up for it. So i think that, judge, there is a lot of reasons that the amazon, the compression of margin, and all of the rest of this that keeps these guys from really getting up and running fast. And so, pete, we have been hanging on this the notion that ath leisure, and Sports Leisure is where to be . The apparel across almost all of the retail. And now a note from Morgan Stanleys jay soul, and it is a 50pager, aed he put out 50 page, and he says that the u. S. At lettic apparel category is weakening and time to worry about one of the pillars of strength. That is one of the overriding concerns. Weakening or dying. Weakening is a little different sense of what is going on, but if you go through the b of a notice, you can see that what did stand out for me is the fact that in the shoe area, in the footwear, they are losing a little bit for the First Time Since 2010 that nike is actually losing a little bit of the market share there, and that is slightly concerning, but it makes sense when you look across, because it is a very very competitive market, and we talked about it the other day, and talk about under armour, and talk talked about it again. A small piece of under armour is footwear, but something that kevin plank wants to increase which is 10 of the sales, and that is something that nike is going to be doing. I am glad you brought it up, because part of the nike note for the bank of america today, they say the following, and i quote, we believe that nike is losing the Footwear Market share in north america for the first time as adidas and under armour are leading the growth market. Where nike is losing the market share, under armour is picking it up, and hello, steph curry accounting for it. And spieth has not hurt either. From the footwear po. Well, basketball, but if you look at what under armour is doing, and the money that the spending is doing with the College World going to pay off . I do believe it are will, but those are huge dollars. And scott, you mentioned adidas a second ago, and you have to real ize that adidas is huge in soccer or nonamerican football, and we have a summer tour coming up which is a time that nike traditionally underperforms. You combine the down trend plus adidas being in the sweet spot right now visavis soccer, and this could set up for a great buying opportunity, and traditional ly if you can get nike 20 times below earnings, that is below 50 on current multiples and seems headed th e there. And both under armour, and nike have been performing the same year to date, and when we look at the stocks in the bigger picture, this category which is red hot is now weakening, and the companies are going to be feeling the impact of that. And under armour as a stock is too expensive. The multiple is still, and the company fun dadamentals dont j buy out the fundamentals, because if you look at the announcement of Sports Authority, they announced and came out one week after they filed for bankruptcy and said, hey, is it is going to hurt our sales. Now we know that Sports Authority has been under pressure for months and months and months and the second or the third time they have gone bankrupt. But we didnt know about the liquidation until a week ago. Yes, but you dont go out there to buy the potential guide, and that would have managed the quarter better so it is overvalued. I am not worried about the share now, because it is a small base of the company, but however, adidas is also a fashion shoe. You the stan smith, and all of t the other shoes where nike is not as much, and definitely under armour isnt. So to me, it is a temporary lull in the spachlts i like the shoe manufacturers that are, i like nike, and under armour at the right price, and i would buy it. But nobody says that nike is a buy . No, the chart is terrible, and looking terrible for several month, and since last summer, it starred to break down. Again, having said that, if you are gettinging it below 20 times, and realize they are on a may 31st quarter, and get the earnings, and look at the future, and the to date, the futures have been positive, but what these two analysts are saying is that this quarter is going going to be a not a negative, but low growth quarter, and maybe that is one quarter or two qua quarters, but again, if you can get the stock below 50, that is a great place to buy it. And jim brings up a great point of the soccer tournament. Yes, the euro 16. That is something that can be a driver in particular for adidas, but not so much for n e nike, and then the focus of the brexit or the bremain however you want to look at it. And so the downgrades for nike are down to 60. And you have 10 upside and you are saying to buy it under 50 is a 20 . And so it is out of balance, and the first time to have lost share since 2010, and you have been here before, and the fashion cycles, and the style cycles, cycles, and it is not over for nike or under armour. And not only is it not over for under armour, but are people giving the growth there enough credit . Are we looking to shoot too many bullet bullets into the story that is sounding too good . Well, it has twice the multiple, and under armour for the premium, and you are asking if it is in the stock, and the premium of nike over is a substantial one. And the one area that we didnt talk about in the whole subject is apparel. And look at lulu lem mop,lemoult is not that everything is being bounced out. It was trading 52s last night, and you never even got a shot at that to daish and suddenly here barely down on the day after a couple of different analysts come out there to start to pound on the stocks, and the industry reaction for nike giving you a sense of where people think is the buy, and maybe it is in front of 50 because we may not get a shot, because im with you, but i would love to get it under 50, but we may not. And nobody is talking about the uptake are from the olympics. Well, john said that the olympics are not going to be picking it up, but there is nothing in it. Yes, i believe it is going to be a surprise, steven, if we get a positive push for nike and or adidas. But you are not paying for it now. And the Morgan Stanley note is interesting in that it raise s the issue of the impact of Companies Like nike and others are having on the consumer shift away from the traditional retailing whether it is causing excess inventory, and how the inventory is being dealt with both from the underarmour or the nike perspective, and whether you are seeing the discounting by the retailer themselves, or by the other chains, and that is the impact of the results down the road. And steve, earlier today, you talked about nike. Yes, and nike from a somewhat reliable source is that they have told the retailers that you cannot discount more than 25 , and particularly high Luxury Brands like rolex that you cannot discount at all. We dont know in terms of the impact, but i suspect that we will cut back on the ordering, because you dont want to be stuck with the inventory if you cant clear. So that is going to remain to be seen, and that is protection against the online. So to me, the reason that i like nike is because it is the brand that you are buying, and not going in shop, because you can buy on the online, and in store. And the valuation is the stocks that are not the plays that you would make . I mean, you are looking at the amazon or the netflix or the twitter before it had the down. Well, the discipline is something that you need to watch it pile up, and it could turn badly, but no multiples there. All right. Here is what is else is coming up on the Halftime Report. Mr. Doom and gloom, mark f faber predicted a big downturn ahead for the markets this year, and with the stocks hovering at near alltime highs, what does he think now . We he will join us. And the big opec meet iing. Brian sullivan joining us from the big meeting and what to expect. And amazons next big idea. Jeff bezos is going the breakdown what he calls the fourth pillar, the next area of growth for the company. That and more ahead on the Halftime Report. Here at td ameritrade, they work hard. Wow, that was random. Random . No. Its all about understanding patterns. Like the mail guy at 3 12pm every day or jerry getting dumped every third tuesday. Jerry every third tuesday. We have Pattern Recognition Technology on any chart plus over 300 customizable studies to help you anticipate potential price movement. Theres no way to predict that. Td ameritrade. Man 1 man 2 i am. Woman exmilitary . Man 2 four tours. Woman you worked with computers . Man 2 thats classified, maam. Man 1 but youre job was Network Security . Man 2 thats classified, sir. Woman lets cut to the chase, here. Man 1 whats youre assessment of our security . Man 2 [ gasps ] porous. Woman porous . Man 2 the Old Solutions arent working. Man 2 the world has changed. Man 1 meaning . Man 2 its not just security. Its defense. Its not just security. Its defense. Bae systems. Keeping the power lines clear,my job to protect public safety, while also protecting the environment. The Natural World is a beautiful thing, the work that we do helps us protect it. Public education is definitely a big part of our job, to teach our customers about the best type of trees to plant around the power lines. We want to keep the power on for our customers. We want to keep our community safe. This is our community, this is where we live. We need to make sure that we have a beautiful place for our children to live. Together, were building a better california. All right. Back on the Halftime Report and oil is lower ahead of the opec meeting. Brian sullivan is live at the opec headquarters in vienna, austria, with a look ahead. Brian . Well, thank you, scott. If you dont think that there is a lot of interest around the opec meeting, you can see when the Oil Ministers get out of the limousines, they are mobbed like Tim Kardashian in a global hot spot. You can see the iraqian minister there going in. And i will blast some of the a areas is the headquarters and that is right here and can the cartel survive . They are supposed to vote on a new oil secretarygeneral, and they could not agree on the last time, so they kept the old one. They want a new one, and you wonder why to care about that, taand the reason is that the secretarygeneral can be the gobetween in any heated negotiation like for example between saudi arabia and iran who have their own goals, and they are fight ing fing for thel market share particularly in china, and we know what did happen or didnt happen in dohd, qatar, and so will the saudis and the iranians at least agree not tin crease production furth further, and the issue of iraq. And now, iraq have been pumping like mad. Some numbers have iraq nearly at 5 million a barrday, but many oe people i spoke with said they cannot sustain it, and they have contract issues. And so by the way, if you are wondering about prices, we have come well off of the lows of 50, and some of the countries, they need higher price. Literally, it is hard to get a moment with these guys, and we briefly grabbed the angolan minister who said that 60 sounded like a better number. What would be a good oil price for angola . Well, it is okay, but maybe 60 per barrel. Yeah, maybe 60 or 70, and we will see, because it is going to the increase the Global Demand or slow the production, and most of the slowing of the production globally is where you have been in the united states, and we have knocked off 800 or 900 barrels a day, because of what has happened a and the shale revolution. Coming here, gentlemen, next time im bringing the najarians, and you can scrum around them, and i got hit in the head with a iphone, and the cameraman got pushed into the hotel vase, and it is a mad house, and bieber fever. And good eats over there, too. Brian sullivan look forward to the coverage over the next 24 hours. Who knows. Brian is live in vienna for us, and the closely watched opec meeting. And how much does the meeting matter in the market . It matters if news comes out of it and right now sh, no news expected to come out of it either way. To me, opec was never a functional organization, because everybody cheated, and they did what they want to, and there were soft guidelines. It does not seem like saudi arabia, the big dog is going the go with anything, and 60 is not good for saudi arabia, because they will be breaking e en have with the social program, and so in saudi arabia, nobody pays tax, sok look, i think it is a decline. 50 is too much . Too much too quickly. And looking at the pmis around the world, growth is slowing, and china is slowing, and europe is slowing as well. It hurt. The last time that brian took a junket overseas wu doha, and that doha trip crude oil was 39 and trying to make the surge through 40 and extend, and it didnt because Nothing Happened in doha, and very little is expected here to the your point. Well, the risk is a surprise to the market for sure. Yes, the risk is a surprise to the market or the downside. I mean, if absolutely nothing, and if saudi really digs in, the new oil minister in saudi, if he digs in here, judge, and says under no circumstances or words to that effect, you can see 44 in a heart beat. But nobody expects anything to happen, why would oil move . Well, him jawboning it, and saying it and putting nit black and white in the press tomorrow if he indeed digs in like that, i dont know if it is going to happen. And there is a lot of incremental supply coming on, and brian mentioned the Iraqi Oil Production at 5 million, and maybe it is unsustainable, but 4 million a day, is still a lot. You have libya coming back online, and canada with the Oil Sands Production coming back, and there is a lot more supply coming. I see the Downside Risk to the price of oil here. And when you are talking about it, 140 bankruptcy s ies the u. S. Companies, and those are companies that went bankrupt, and not the fields or the production, but that production is alive and coming back on by the way at a lower cost, because it got rid of the legacy costs, and you have to look for that coming back on. And the xle has held up. Looking at the 200day moving average, scott, and it is up. And up 11 . Yes, a big run since march, and looking at the trade on the technic technical, and the specifically 200day moving average, it is olding in extremely well. It is getting closer as we pull back once in a ill whooshgs but it is trading around 66, and the 200day is the is around 64, and that going to stay something as well. We have seen some great paper on the energy names that are part of the xle as well. And jim and pete still own Kinder Morgan . Yes. Right. And the play, scott, it is not tied to the price of oil, and yes, sometimes the stock moves in conjunction with the price of oil, but it is also a play of the can Economic Activity in the u. S. , and this quarter, we believe gdp growth of 2. 5 , which is enough to increase the flow through the poplines, and that is how they make money, the flow through the pipeline. And so you think that you should hold on until the end of the year . Yes. And now, yesterday, we talked about buying the michael kors stock, and you should have listened s. The handbag retailer back . Plus, the Auto Industry braking, and what does that mean . We will take a break and look at the heat map of the s p sector. Everybody knows that Business Today is built on data. The thing is, most businesses arent getting the most out of it. 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