Shame on you second, it was a wild ride the dow finishing up and then finishing lower, all this because of what else, the federal reserve, fed chair Jerome Powell and other officials tempering hopes of a rate cut dow and s p posted their worst days of the month. It was the nasdaq, some of your favorite tech stocks took the brunt of the beating the faang, bit microsoft, alphabet, down 3 facebook off 2 . You get the picture. Guy adami. Yes, sir. Fracas, fracas, what do we make of what the action was today . Is that how sensitive this market is to the fed thats the refor t rhetorica question the fact that we get to 2950 again and again and fail, i think it is problematic. We do it when the vix gets down to 15, pete can speak to that, levels where the last six to eight months the market has topped out i think the market is overestimating the power of the fed. I think unless we get a trade deal, which i dont think were going to get, i think we roll offer at these levels. You just gave a lot of numbers. Talking about the fed, it also thats what we do here, brian. It sounded like youre also saying that it is not just the fed. Technicals are playing some kind of a role. I think you have to take them into consideration this was a level that we topped out at in the fall, retested it, topped out again when the vix gets down to these levels, it has been a level with a Broader Market sells off from. The russell hasnt backed up this move to the upside. The transports havent backed up this move to the upside. Gold continues to rally. All those things to me are warning signs. Tom what do you think yes, the bottom line is you got a dynamic worthy expectation for the fed. I think guy framed it well it is not that the fed is not all powerful it is completely the opposite. They are everything right now. When i hear bob kaplan put out a paper talking about the limitations of monetary policy, when i hear powell step back a little bit, i think he did what he should have done when it looked like the fed gave us more than we could have possibly expected the bottom line is i dont think that will help this economy. I think that getting too neutral and staying there on the fed is very important the most important thing right now remains what were seeing on macro data look around the world over the last couple of days, hasnt been good hong kong trade data not so good French Business confidence not so good. You name it, bond yields, thats what you should listen to. Having said all that, people want to look at double tops and this and that. And i dont i actually think technicals are very important. I think this is all about the fed right now. I totally agree at this point we have got four fed cuts priced in by april next year until today people pricing in 50 basis points at the july meeting. What justifies that . Even if we had soft Consumer Confidence data today, even if we had squishy housing data today, the inflation number is not that far below the feds 2 target we know it is a volatile series. Theyre letting us know theyll probably give us 25 basis point cut in july, probably, not even guaranteed probably because last week Steve Liesman survey showed 100 , thats all the percent, of people surveyed, said were going to get a rate cut and whenever there is 100 certainty on something, maybe dont want to be certain, it sounds like you think there is a chance we wont get a cut. Look, if you have we have a lot of data next week, next week will get interesting again. Well have the g20 outcome, whatever that is, but then a nonfarm payroll report on a friday, after the fourth of july. Opec opec, we have got Manufacturing Confidence coming out next week. There is a lot to chew on and earnings season will come up again. On a short week with low volume. Right. Well be doing fast money that friday, july 5th, i bring that up, i will be here. Just to be clear pretty exciting to be here. Im very excited, pete. Five guys that hi, how are you thanks for doing your job thanks for doing your job. Great day to be here. Without that liquidity, with the jobs number, with the fed in focus, there is a lot we need to digest as investors. I pulled that back for you you appreciate that. Great to have rebecca on the desk for many reasons. Ill push back a little bit i get it here is the thing, pete, will do this tomorrow on the 5 00 a. M. Show joining us, Worldwide Exchange if it was just our fed, why is china up, why is germany up, why is brazil up, why is gold up, why is bitcoin up . A little bit of everything, right . Everything is up and were all wondering why, especially when youre seeing weakness around the globe for the most part. A great question i think what were seeing today, not that were not going to get cut, i still think 100 is pretty close to what i would put it at. Somewhere very close to 100 a cut. 100 these guys have basically trump has to put it out there, were getting a cut. I dont think it is 50 i think it is a quarter. So thats the one difference i think today that was the ship. The ship was lets step back for one second right. Where we down a lot today . Were you just scared to death today when youre looking at the market because we went down 150 points virtually right off record highs. Absolutely not this right now is fed driven, and everybody is also looking g20, everybody wants to know is there going to be any progress with xi. There is a couple of other things i know you guys keep saying, everything is the fed. It is not everything it is not everything trade is still to me much bigger than the fed. I think red is more powerful than green sort of from a narrative perspective sometimes. But we are but we are in the middle of our best june in 70 years. 1955. Were down 100 points or so off the high. Holy smokes, thats really terrible. This has been a pretty spectacular month for equity if we get up, if we move up every day, shouldnt that thats when we should be nervous. Absolutely. We had a huge rally in june coming off of may. Low yields have helped that. People are expecting better numbers out of housing and other Interest Rate sensitive sectors. The housing data today gave people a little bit of pause around that story. I think the consumer is important from that number today is the jobs, plentiful, hard to get. That little number inside that data point softened quite a bit. And thats important because it is another data point to put together with payrolls just to make us say, okay, we need to keep a close eye on the labor Market Manufacturing soft, we understand that. If the Service Sector and the consumer gets soft as well, then we have a problem. And really quick, i think it is important because if you look at where were starting to see deterioration of labor in the European Union, the feds comments on inflation, they have to where they were getting some pressure was from wages and thats disappeared as well so interesting, i mean, im with pete, i think the g20 is really important i think china trade deal is really important i dont think it is going to happen i think were getting strung along and quite frankly if i were the chinese, i would do the same thing if you want to take a step back and view it from the prism they look through in terms of the fed, the president talks about all the time, this is the greatest economy in the history of the republic he said not my words, maybe it is i dont know im not an economist if that is the case, why are we even contemplating forget about 50 basis point hes trying to neutralize it against the rest of the world. Because the ecb and super mario draghi have hit us over the head that they will either, a, be cutting, b, bond buying, or, c, all of the above. What were seeing here trump has been mad about currency issues and his whole point is i think your point is correct, your point is correct, which is you got to balance it out. If theyre going to cut but why you dont want to see the dollar get stronger. Of course you do. You buy things he buys things pete buys things. I know i buy things. But our administration for years it is a stronger dollar policy. The madness is if everybody is driving themselves into the gutter, why follow them . This is an opportunity to strengthen our underlying economy. Might be painful for the market but wond irferful for the econo. Hes got an eagle on his shoulder might be a pigeon. Rebecca, here is is the thing, i want to expand it, we talked about technology, faang stocks, bit, all this stuff. What does google have to do with the fed . What does microsoft have to do with the fed they were down 2 and 3 today i understand our broader perspective. What does alphabet care about Interest Rates you know, i know this show is fast money, so were talking about what is happening now, but i would take a step back from this and say if you think were going to continue to look for companies that can grow organically, if the trade war, Global Growth slows further, i Want Companies doing something interesting, biotech, technology, that can grow on their own. And so i say if you have a day like this, youre probably looking at an opportunity. I got you just made im going to drop some genius on this show. Youre welcome, producers. We need a segment on this show called pump the brakes where once a segment, people like rebecca come in with wisdom, and they slow it down a little bit pump the brakes. Slow it down too much. What were the brakes like on your iroc z. New cars, you put your foot on the brakes, they in the old days hes a car guy. Can we go ahead, im sorry. When hes not in an uber, hes being driven around in a limo it is not all bad despite the trade fight, m micr reporting earnings to josh lipton with more micron had been hit hard, the stock was down since the intraday high heading into this printed, primary reason was huawei and fallout from the Trump Administration black listing that tech giant. It is important micron customer makes up about 13 of their revenue. Right off the top of that call, quickly the ceo addressed that concern. Take a listen to what he told analysts. Micron immediately suspended shipments to huawei and began the view of micron products sold to huawei to determine whether theyre subject to the import restrictions we determined that we could lawfully resume shipping a subset of current products we started shipping some orders of those products to huawei in the last two weeks however, there is considerable ongoing uncertainty surrounding the huawei situation and were unable to predict the volumes or time periods over which well be able to ship products to huawei. So pretty interesting, the ceo saying we reviewed the export ban and found we could lawfully resume shipping some products to huawei though he also said, listen, if huawei remains on this export ban, this black list and fiscal 2020, there would be an impact, hes telling analysts. More fundamentally hes saying 2019, challenging year for micron and the markets that they serve, near term, some uncertainty. Also said they are seeing these early signs of demand improvement. As for the outlook, q4, looking for 45 cents on 4. 5 billion and you can see the stock moving sharply higher now in the after hours. Josh, thank you very much. Here is the thing, micron is micron is still down 40 over 12 months up 9 or 10 in the after hours. Are you a believer in micron, short bounce after hours and what has been a depressed and depressing story for the better part of a year within the chip space, there is a lot of different discussions about micron and how commoditized they are, what is going on with dram, some of the core part of the business. Relative to the s p, down 45 year over year this move and this pop after the bell, an exaltation to my right, i believe, someone is happy about it, i think the bottom line here is this is about expectations these guys, first of all, they came in, they beat, they guided better, the expectations are these guys are in for a long winter in the middle of the summer and thats not whats happening. It is a stock that the average 27 analysts covered. The average rating i buy with a price target under 42. Ten bucks above this is a stock that gets too cheap. But there is still an opportunity where you got to wait and wait for that opportunity to present itself. Now that time it recently had i bought the stock not that long ago. It was virtually based upon the options coming in, looking ahead, and trying to read through all the tea leaves, the information, some not so good. This was an unbelievable report. That was crushing of the earnings that was a nice beat on the revenues like tim said, you start to put out more guidance and it is still murky. There is still issues with huawei these numbers, brian, were pretty phenomenal. If they can even get close to these numbers that theyre projecting going forward, look at what the pe is, look at this company and the potential that exists there i own stock, i sell calls. Thats what this stock is made for because we talk about applied volatility all the time and guy referred to me a little while ago talking about the vix, the vix is low lets just talk about it the vix is low at 15 implied volatility of the faang stocks is very high. Which gives you that opportunity. If you own facebook, sell calls against it you own any of the faang stocks right now, you have great implied volatilities there where you can sell against it. Micron is not a faang stock, but that fit in as well where youre getting dollars in premium to be able to sell upside against a long position in the stock. Rebecca, the fact that the vix is at 15, given that tankers are being blown up in the straits of hormuz, the rhetoric has gone up, we have g20, the trade fight, the potential for brexit and yet vix is at 15. Because of Central Banks. Because of mr. Draghi, because of mr. Powell, because of the market has a bodyguard. It believes in that the question i have is do they believe in it too much i do think well get easing, especially if the Global Economy softens further and inflation is still low. But it is so priced in you have so much easing already priced in. This weekend, well have an eu meeting, European Union meeting, theyll talk about draghis successor. What if we get jan heideman coming in. Whos that . Janes heideman looking to do draghi this is why shes here. Because draghi was the hawkish one across the European Union that wasnt giving the ecb any room to angle. The ecb according to many people saved europe from itself this is not a black swan, maybe a black forest event oh. See what i did there . These are the kind of things we need to watch for. This matters. It does matter. Even if you do own u. S. Stocks this matters. If you see europe going down, it is going to hurt the multinationals. Shes spot on im so happy shes here. Quick, back to micron, pete is right, they beat revenue and they beat on eps and margins were better. Those three things are great this is why valuation does matter revenue, dram revenue 64 of overall revenue, down 45 year over year. 45 year over year thats pretty devastating. But the question is, is it reflected in the price of 32 . And this quarter it appears as though thats the case i dont think it is going back to 45. I think you can make a cogent argument it rallies another 10 or so from where it is. All semis or micron. This is micron. Micron specifically. We showed you, some semiconductors can maybe jump on this. Im sure if i looked right now, i havent looked, im sure intel is higher, knee jerk reaction, this, to me, is a very micron specific report okay. Now, a fast look at other earnings, movers, as we head to break. Fedex higher off its numbers Conference Call in the next 15 minutes or so. The company last night announcing a lawsuit against the United States over handling of huawei the latest plus, oil at the helm of geopolitical tensions. One talk energy watcher says a key Event Next Week could send the commodity surging. Mike bradley is here and biotech m a heating up pete says there is one name in the space that could be the next breakout stock hell give you his fast pitch. Were live as always from times square much more fast right after this al hi everyone al roker here. As a guy with his own catchphrase, i appreciate that after 75 years smokeys only said. Smokey bear only you can prevent wildfires. Al but, im filling in because theres a lot more to report like when there are parched or windy conditions out there, you gotta be extra careful with things like burning yard waste. After all, wildfires can start anywhere, even in your neck of the woods. Go to smokeybear. Com to learn more about wildfire prevention. Xfinity mobile is a designed to save you money. Whether you use your phone to get fit or to find the perfect gift, youll use less data with a network that automatically connects to millions of wifi hotspots and the best lte everywhere else. So you save hundreds of dollars a year on your wireless bill. Xfinity mobile has the best network. Best devices. Best value. Simple. Easy. Awesome. Click, call or visit a store today. Welcome back fast food stocks in focus on fast money. They bucked the trend today. Mcdonalds, starbucks, chipotle all in the green after Credit Suisse initiated these names with a mouth watering outperform rating and that is your call of the day. Stocks have been hot this year chipotle up 70 . Starbucks and mcdonalds, theyre trading near all time highs. Are these a safe haven safe haven redundant. For along tiwe were talking and mcdonalds was one of those names. But the story of mcdonalds been about u. S. Same store sales. And the brand and technology and key oftens kiosks and the quality of the food, multiple, demanding to itself, not demanding to its peer group and you look at chipotle, which, to me, trades at an absurd valuation. It is important to bring it up over and over again. To me, sometimes the valuations of the company and the margin base and the direction of the Management Team is where it is supposed to be it is going higher shake shack another one that Credit Suisse initiated, 77 price target thats probably trading close to if not more than 100 times forward earnings but maybe the growth rate justifies it and so we have talked about actually i worked there one day, you may remember it was a great day for me, i think there is a real chance every have you worked at every dominos. At the hut . Pizza the hut. And this was research this was research i did a great job. They wanted me to stay for a while, go figure brian. Why are you looking at me like that dont look at me thats not nice that makes me feel insecure. Look, there he is im always in favor of getting boots on the ground. Dont care about the valuation. Im shaking my head i dont know how i dont know how youre preparing shake shack valuation with mcdonalds. One has 70 million did you hear me say mcdonalds i didnt say mcdonalds. Did you hear me say mcdonalds im going to give you a comparison, however, that is direct dunkin and starbucks. Dunkin is cheaper and in front of them they got growth in front of them, you talk about the west coast, where they dont have enough exposure trading at 28, 29 times versus 36, 37 times for starbucks, thats an opportunity. Both are at 52 week highs. Why . When coffee prices go up, they raise the price. Coffee prices, glad you mentioned it, at 30 year lows. No kidding. Just off a 30 year thats what i do for a living. For more on the big analyst calls of the day, go to cnbc. Com youre watching fast money on cnbc, first in business worldwide. Heres what else is coming up on fast. I love gold thats what the traders are saying and someone just made a Million Dollar bet the rally isjust getting started. Well break it down. Plus doctor, doctor biotech m a is heating up the space. One name that could be in the waiting room for the breakout. Find out what it is when he delivers his fast pitch. Much more fast money after the break. Invest and protect for the future. So theyll be okay . I think theyll be fine. Voya. Helping you to and through retirement. So. How are you feeling on a scale of one to five . Wait. When it comes to feelings, its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry, clive actually, really angry. Thank you. And seat 36b angry. Youre clive owen. And youre barefoot. Yeah. Theres also apprehension. Regret. Relief. Oh and theres empathy. Ah, i got this in zurich actually, whats the opposite of empathy . But what if your business could understand what your customers are feeling. And then do something about it. You can turn disappointment into gratitude. Clive, you got to try this. I cant im working. Turn problems into opportunities. Thanks drone. Change the future of your business change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Oh, wow. You two are going to have such a great trip. Thanks to you, we will. This is why voya helps reach todays goals. All while helping you to and through retirement. Can you help with these . Were more of the plan, invest and protect kind of help. Voya. Helping you to and through retirement. Welcome back crude oil rallying 10 this month. Geopolitical tensions in the middle east rising you got tanker attacks drone attacks. Increased with iran new sanctions and export sanctions. That move sending Energy Stocks higher one of the best performing sectors for june terrible over the last 12 months with these new sanctions on iran and opec meeting next week, will this crude comeback continue michael bradley, strategist, he joins us now from houston. You and i got to stop meeting like this, talking about oil here is the most amazing thing about oil. Given what we just talked about, given venezuelas rolling collapse, were still only at 57 bucks and change in the United States is that simply because of permian production well, i think it is a combination two of or three things first of all, it is really demand really demand stats over the last couple weeks and months as you know have really rolled lower. And thats just pressing on crude oil prices from a supply standpoint, u. S. Crude bills have been massive over the last two months or so typically over the last two months you get flattish bills. A build of almost 40 Million Barrels. So those are huge counterseasonal builds thats kind of weighed on it recently, about a week, week and a half ago, the iea came out with their Monthly Oil Report and it showed second half demand going lower and 20 demand going lower as well with supply going higher so it is just a lot of those confluence of events have just weighed on crude oil at this point in time. I can remember a day, michael, not that long ago, if we had tankers being blown up, we had conflict with iran, the talk about u. S. Military ships esco escorting super tankers through the strait of hormuz, you could have seen a 10 or 15 pop in a day in oil now you got 12. 5 Million Barrels a day in the permian that is risk free. Risk free from a geopolitical perspective. Have the days of extreme volatility maybe come it an end . You know youll still have extreme volatility were at one right now, one extreme, and youre right, u. S. Production is such that, you know, volatility is going to be lower over time. I think the issue with u. S. Production is most people are down a Million Barrels a day in u. S. Production into infinity. Thats not going to be the case. We see that production from the u. S. Shales and u. S. Production in general will be slowing down from that million barrel a day a rate down to something in the 600,000, 800,000 barrels a day thats a good thing. The issue is demand looks so bad, people dont even want it look at anything else. And so from that standpoint of volatility, all to the downside. So appreciate all the points. How much is the demand slowdown priced in at this point . Your view and one thing we havent talked about yet or just summer seasonals, we got Hurricane Season coming up, started already, we have driving season does that matter anymore how big of an influence is that . I think three biggest events that will matter now is so you know at the end of this week, the g20, what happens there if we have a positive event there, thats going to take put a premium back into the market the second i was the opec meeting coming up on july 1st. Consensus is that there is going to be a rollover of cuts, 1. 2 million, and so to us thats the main thing that is going to be an issue out there and i think near term, were a little bit more positive on crude oil and more so than consensus simply because we do see u. S. Crude inventories beginning it decline over the next couple of months. And so thats going to be a positive catalyst. And seco and were looking at domestically and globally, that will be a stimulus and so no one is taking that into account. Everyone is looking at the bad demand numbers these guys are successful, youll see 2020 demand improve in 2020. When the fed cut rates at 95, mike, oil prices doubled, so there is a fed aspect, very quickly is the biggest risk to oil not opec, not iran, not the it is debt, debt levels and the permian . Is that a major risk because if where it remains the middle 50s, youll see Weaker Companies go bankrupt. Yeah, you already saw, you know, weatherford went bankrupt earlier this year. The one good thing about the equity market now, the Energy Equities is that, you know, debt levels are in the as bad as they were several years ago a lot of emps have gotten debt levels back into pretty good shape. And so they can live with oil Lower Oil Prices the area you worry about is more the Oil Service Companies. One of the things we have been talking about for a long time is just return of capital, free cash flow. As you know, these emp companies have been in a spin, you any, growth at all cost type mode and theyre going to be going in a free cash flow, return of capital type mode. The first return of that capital will be debt paydown the second thing is going to be paying dividends so thats just a net negative for Oil Service Companies over time i think those companies, deep water drillers, those are where the leverage is high, thats the most exposed so i expect the emp stocks to be a big issue except for the guys smaller cap and little more highly levered. Michael bradley, always great insight, thank you very much we appreciate that my screens here, i got all the oil stocks broken down by region theyre down 50, 40, 60 in the last 12 months it has been an indecimation of Investor Capital in energy well, you got global trade slowing down Global Manufacturing slowing down you have less production and you have less global trade what do you need less of, energy, oil, to make this stuff, to move this stuff that doesnt shock me frankly. I worry about one thing he talked about, really important, the debt levels on some of the companies. Not all of them, but some of them, and playing that into the high yield space. Mike talked about certainly for the permian and really all the u. S. Shale and alternative plays, all about return of capital, not return on capital these companies are being run differently. Thats a great thing for investors. Right now it is clearly a prove to me story. Oih in terms of oil services underperformed the s p by 50 in the last 12 months i still think this is all we have done is talk about supply i think this is a demand story and i still think the dollar which has been weaker is actually not your friend because if anything, i think the dollar catch is a bid and the safe haven, all the charts, by the way, in oil, the 50, the 200, and the hundred day moving averages are pointing down for the first time in nine months. Not good. Exxon and chevron both trade probably at trump valuations relative to where they should be you look at a conocophillips, over the fall, the market was concerned, maybe theyll make an acquisition, they shouldnt make, some of those fears have been assuaged, 59 was the level we traded down to in december. Seemingly held that now. Shades cheaper than both chevron and exxon. For a trade against 59 bucks, i think cop is interesting. I think when it held support near 51 is the key for wti everybody talked about it and it did, it made this massive move to the upside. Very short period of time. I think right now you got to take your chips back off the table and wait and see do we test that 51 level again. If you want to be in something, a stock i pitched a while back was kmi. I love this name i continue to love this name and, by the way, who keeps buying his own stock back . The richest man in texas. Thats not even an oil and gas company. It is a toll taker is what it is lets not forget, opec, quick tease, opec meeting next monday and tuesday. Well see if they keep that 1. 2 million barrel a day Production Cut deal you got iran there, a lot going on there venezuela. Well be there as well well be there covering it live. Come on. Nice. Giddyap. Ill be there fedex, volatile, after its earnings report, the Conference Call kicking off now the company last night suing the United States government over huawei. Well talk more about fedex, up 2 plus, health care and biotech lagging the market this year but pete says there is one name that is ready to break out, youre going to get his fast pitch and we want to see if youre buying it i dont know what that was were back after this. My degree from snhu has helped me tremendously. The flexible class schedules allowed me to go to work full time, run my catering business and be a mom and parent. When i reached this accomplishment, it was like, its here, its happening, its now. We at Southern New Hampshire university are the ones who succeed. We are the ones who break through. Welcome back another big biotech deal on wall street today, abbvie, 63 billion acquisition for botox maker allergan shares of abbvie falling double digits allergan surged more than 25 . This is the second largest biotech deal this year is this just the beginning, perhaps, of a larger consolidation in the biotech space . I think it absolutely is. I dont i think the Bristol Celgene thing, we said it for a while, it is not going to happen every time you get negative headlines along those ways and celgene gets sold off, in my opinion, pete might agree with this, i think it is a huge opportunity. Any weakness in my opinion in celgene shut bought not because theyre going to get bought, but on valuation in terms of pipeline the stock is too cheap. Here is what ill say about biotech. We talked about biotech for two and a half years and could have talked about cheap balance sheets, companies that had expiring pipelines, companies that probably talking about the idb. Talking about the heavily weighted top six or seven names, biggest market caps in biotech the problem here is i think that every time everybody thinks there is going to be more m a, it is a hangover for the entire sector and become a difficult sector to invest in. Thats what we have here. Is it better just to buy and sometimes you can make an argument you want to pick stocks, not just buy etfs. But so reliant on a roll the dice for a headline, right you have one drug if it doesnt work, the stock falls 70 . If it does work, it doubles. It is a volatility play, right . So we should be looking at options there. But i do think biotech, there is a lot to chew on beyond the drugs, devicemakers are, a lot of Service Sector companies that you can look at to expand your horizon i still think it is a trade fight play. A lot of it is made in china. Some of it. There is an active management play to do there. Okay. If youre looking for a way to participate in the biotech space, mr. Pete najarian says one name is about to break out all right, so why dont you you know how it works. Starting to walk. Go to the doing the pitch. Well shoot it down. They shoot is down every single time. Take a look at biogen, this has been very, very interesting. Were going to get to why it is trading where it is now. But, first of all, management. Great Management Team and by the way, new ceo, came over from merck, doing a great job so far. But he also stumbled into biogen right ahead of why they fell down well get into that in a second. Down 40 why is that . Well, if you go back into march and you look, the alzheimers results and the fact that they yanked that whole system that drug, they were trying to push for alzheimers, thought they were there, it was priced into the stock, a lot of people say i dont know it was. I think this is a huge overreaction so they have been selling that stock and they sold it down from way close to that 4 00 level, down to the levels it is now this stock is very,very cheap. Look at the fundamental story here they put off 6 billion in cash a year 4 billion of that theyre buying back their own shares they dont have a dividend, but when you look at this trading at a 10 pe now, this stock is just too cheap in my opinion. So i think there is a great opportunity there. Oh, by the way, Earnings Growth right now is sitting at 15 annually for the last five years. Their Revenue Growth is 9 in that same time frame this say company that has got a lot of great things going on fundamentally. Focusing still on ms but theyre actually expanding and they have got four different drugs right now in phase three one of them for als. That could be huge there is a Huge Industry out there. And, by the way, these guys could make an acquisition at some point if they would like to because they have a great balance sheet. All right anybody have a question for pete before we vote pete ultimately the question here, though, is about either additional m a in the sector do you see them getting o outflanked by somebody im not going to actually buy somebody i think already they have got a decent pipeline of trades really inexpensively. They are throwing off a lot of cash if they decide to pull back on buying some of their stock and decided to buy somebody instead, i would love to see it be a Smaller Player i would like to see what pfizer did. An 11 billion deal. I dont like these big megadeals. The 53 and 63 billion type deals. I think those are too big, too clunky, too difficult to manage. I would rather see them, if they make a deal, do a much smaller deal, 10 billion or less. Okay, guys. No more questions. Time to vote, are you buying petes big pitch on biogen, tim seymour . Im afraid that pete, you know, i have to be consistent with what i said i think the company is very cheap. But im probably a seller here, i think the sector is probably sideways at best. Rebecca patterson im not allowed to talk about single stocks because of my position at my firm. However, i would like to give pete props because great delivery. Buyer of pete. Appreciate it, rebecca. Youre the best. Im i have trouble with the english language so i struggled for a while. But i finally fracas. It is not it is too cheap is what it says, which means it is a vote for pete we said this for a while, traded down to 225. Alzheimers is the holy grail. Nobody is close. Biogen has other things going on it is a cheap valuation historically it has rallied good pitch, pedro. Now down to 77, if prices stay the same, single digit valuations, nice vote for petes sake guy, rebecca, tim, thank you very much. The desk has spoken. Now it is your turn. Go it our twitter page, cnbc fast money, cast your votes, well reveal the final results later on in the show plus, gold bliglistening today thats got options traders piling into gold well tell you which way, though, they see it heading and it might surprise you. Your brain is an amazing thing. But as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. Healthier brain. Better life. So, every day, we put our latest technology and unrivaled network to work. The United StatesPostal Service makes more ecommerce deliveries to homes than anyone else in the country. All right, welcome back to fast money. The gold rush on again gold skyrocketing in june, up nearly 10 , stocks sitting near all time highs, and options traders were betting on gold Summer Valley to shine on. Dan nathan is in san francisco, where your options action. Dan . Hey, sully. Yeah, so call volume today was two times that of puts on the day that gld gapped up didnt close particularly great. Closed toward the lows here. There was one trade that really caught my eye, when the etf was trading 134. 79, a trader rolled up a bullish bet, selling out of the july 12th weekly 10,000 134 calls and buying 10,000 of july 12th weekly 136 40 call spread and paying 95 cents for that that trader is looking for a break even 136. 95 and possibly as high as 140 over the next couple of weeks. What is interesting, like you said, this thing is up 10 in the last month and it is breaking out we have a one year chart right here it went on a runaway breakout here really to get a sense for the breakout, look at the tenyear, it is approaching levels that it has not seen in five or six years and here is one more chart. This is a really important chart. Peter bookfar, friend of fast money, posted this chart yesterday. This is the price of gold and how correlated it is with negative yielding Interest Rates or debt around the globe here. Obviously very well correlated you see what gold is doing that as we have seen it taking over sovereign debt here. So this one kind of interesting, trade rolling up a little bit, playing for more upside. One more thing, by the way, pete najarian, i voted against your biogen. Of course you did ive never seen you be a bull in your entire life youve been wrong each time on these by the way, so giddyap, big boy. That was a beautiful chart for pete, the nerp trade, make america gold again pete najarian, what do you think about gold im with dan. Trading 120, now trading up to 135. They have been buying, buying, buying, buying this is 16 different times we have seen bullish activity 14 coming in today another two today. Very aggressive buying in gold got to stick with that trade and i absolutely, spread it off if you have to. Not just gld, gdx, gdxj, you can play it any way you want now. It is an absolute honor to work with all of the good people at cnbc. I would i can say that with all sincerity. But some people reach a certain pinnacle where they have a graphic made with their picture in it. Dan nathan reached that pinnacle look at that right there dans megatrade. Isnt that fantastic you dont have one you dont have one i hope to get there some day. Im in the pantheon you reached the the hat was blue. The whole idea. Were making acronyms great again. The hat was blue. Dan nathan on the gold trade there. Guy going higher we have been saying it gold is not a story until it is youre going to walk in, i said this to melissa lee, typically here every night, shes on vacation, youre going to walk in one day and gold will be up 100, youre going to say whats going on mark my words, that day is coming are you surprised that bitcoin and gold are also going up together . Is this a dollar trade i think we lost dan. Jump in there i dont think it is a taller trade. The chart, the great chart before, from peter bookfar is amazing. It only goes back to 2015. This is not a long time. But it is a relevant one were seeing yields around the world go lower, gold has no yield. In the opportunity cost for owning gold goes down, global yields are down, gold is relatively more attractive that trend isnt going away. Not only does gold put that chart back up if we can, the nerp, 13 trillion by the way in sovereign debt, now negative around the world gold doesnt have a yield, it has a carrying cost. Gold is expensive to own. Like a negative yielding bond in a way yeah. So and why would it go up when yields are negative . Central tango. Thats a good one so Central Banks are buying again. They start diversifying their reserves, adding to gold that trend tends to be sticky it will last for a bit. Parking spot at the Port Authority was so tight, i had to do a backwardation. Oh tune in every fry iday at 5 0 eastern time were going to tell you what wall street is saying about the results. Frank holland on wex this morning back with us stick around see thats funny, i thought you traded options. Im not really a wall street guy. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. You know, at Td Ameritrade, we can walk you through your options trades step by step until youre comfortable. I could be up for that. Thats taking options trading from wall st. To main st. Hey guys, wanna play some pool . Eh, im not really a pool guy. Whats the hesitation . Its just complicated. Stepbystep options trading support from Td Ameritrade oil and gas 4. 0 means rethinking how our industry attract new talent, shows environmental leadership and reshapes partnerships to create a prosperous and Sustainable Future join the worlds leading decisionmakers in abu dhabi an Xfinity Mobile is a Wireless Network designed to save you money. Whether you use your phone to get fit or to find the perfect gift, youll use less data with a network that automatically connects to millions of wifi hotspots and the best lte everywhere else. So you save hundreds of dollars a year on your wireless bill. Xfinity mobile has the best network. Best devices. Best value. Simple. Easy. Awesome. Click, call or visit a store today. All right, we got earnings alert on fedex up a little more than a percent in the after hours trade frank holland. The fedex earning call is going on right now fritz saying this just a short time ago about global trade. Take a listen. Global trade disputes and low Global Growth rates creates significant uncertainty for the express business, leading us to be cautious in projecting fy 20 earnings for this segment. The integration of tnt is progressing at a good clip and we will see significant benefits by this time in summer 2021. So the company not giving hard numbers for fiscal year 2020 guidance but expects eps to decline midsingle digits from this year. The forecast has express margins lower after the decision not to renew customer contract that appears to be amazon a decision they announced earlier this month we spoke with david vernon from bernstein, heres what he had to say, quarter itself seemed okay. Guidance is for lower earnings for next year which the market has been pricing in. We also heard from deutsche bank, they say the Company Needs to execute a Clear Strategy or they believe that this stock is going to be neutral from here on brian, back over to you. Frank, see you tomorrow morning. Thank you very much. Lets trade this, guys ill trade it for you the revenues are more or less flat, profits down 15 in express and ground and i think the company after two consecutive quarters of disappointments, i think fred smith is fantastic, i think they have a credibility issue to overcome even though this is one of the Great Companies in the world and actually i think it is very cheap here. Two words for you there, sully. You want them . You want to guess . Relief rally thats what this is. Never would have guessed that. Relief valley this guidance was, yes, they were looking for atrocious, they got t relief rally, sell it. This is a case where the micro affects the macro. Look at the lawsuit against the government, look at what is going on Global Manufacturing, yes, it is priced in, yes the stock is cheap Global Manufacturing will slow further. Fedex has been doing this for three quarters. I got amazon people delivering packages now. Private citizens and yellow vests coming what are they delivering to you in. Whatever it is. Up next, i dont know, on pethe box. Up next, final trades. Boom. To form the Stock Exchange which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From using feedback to innovate. To introducing products faster. To managing website inventory. And network bandwidth. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. You know why pete seems so high on life goofy sayings. Whatever. Buying his pitch oh im almost disappointed time of his life. Sell it now nice job. Theyre going to be right. Weird coffee im mr. Coffee. Not john im around the horn. Internet of china, this will go higher, they bought calls today, right last time, right again. Tim seymour. The faangs of asia. Alibaba. Doing just fine. Yeomans effort by her, she had a hawkish german on a Conference Call, jans heideman. Shake shack, 77 price target, im in that camp there shake shack thank you, brian. By the way, that does it for us here on fast money. My mission is simple, to make you money im here to level the Playing Field for all investors. Theres always a bull market somewhere and i promise to help you find it. Mad money starts now hey, im cramer. Welcome to mad money. Welcome to cramerica other people want to make friends, im just trying to make you some money my job isnt just to entertain you but educate you. Call me at 1800743cnbc or tweet me at cramer i say it over and over and over again, no matter how muc