With the ceo bob iger. Joins us with the latest julia. Melissa, thats right dips disney beat revenue and earnings driven by success at the parks and studio the big news is about disneys big bet on streaming with disney plus launching tuesday bob iger announcing in the interview that they have a Distribution Agreement with amazon and lg pmt iger also announcing a new plan to bolster hulu with fx. For the first time fx will be creating original series for hulu in fact we start with four of them four of them in production now and theyll be available on hulu starting in late march were also going to enable viewers to watch fx shows on hulu soon after they have aired on fx a few hours later. Iger announcing that espn plus now has 3. 5 million subscribers, that the addition of over a million over the course of the last quarter now i asked iger if all of disneys investment in streaming threatens to cannibalize the core Media Network business. We dontbelieve what were doing is damaging the bread and butter, to use your words. What we are do something really a couple of things first of all giving consumers an opportunity to watch sports in new sometimes considered more modern ways. More convenient ways were also establishing a path for us to continue basically success or profitability should the initial or the traditional Business Model be disrupted to such an extreme that its a necessary transition we have to make now disneys Earnings Call is going on right now and the companys cfo Just Announced that protests in hong kong have led to significant decrease in tourism and they expect operating income at honk donning disneyland to decline 50 million in the current quarter. Iger says he is not focusesed on skrurpgs we asked if he subscribers to netflix he does. Julia boorstin in los angeles. Lets go to the man owning disney and successfully fast pitched disney youre riding high tonight. The Blind Squirrel. But the thing about disney that got me exciteds in a company i want to own for four difference studio, parks and recreation and ultimately the streaming service and Media Business this is something on the Media Business we dont know what blended multiple to apply to the company. But when you look at parks and studio, i mentioned that studio is the gift that keeps on giving studio drives parks and drives all the Consumer Products business whether thats driving ultimately the streaming business well see disney certainly has made between that amazon Distribution Deal and the fact that they have every major distributor out there. And i would argue who do you want i would rather have disney than anybody else if they choose one, they would rather own disney. You look at the multiple, the this stock relative to the market you could have bought in yesterday if you were screening what hasnt run whats a brew chip and valuation and you can do it after the numbers. These were great numbers we didnt learn about the streaming business yet we know they are in the thick of things. It has the fly wheel effect you ms. Henninged that it should help the streaming business if it helps studios it should help that content which will be on the service. He does sort of just touch on the idea of the cannibalization he denies thats an issue. But it has to be abc, linear tv that has to be an issue. Good for them. You can either do something about it which they are. They are absolutely addressing it i kind of agree with tim, the numbers are great. Up nicely. But its not materially more expensive today with the earnings up this much. The story is very much. I think the stream stuff is interesting. I licensed to the whole interview. He said they gained a million espn plus subscribers. 28. 5 hulu subscribers. Its an important part of the direct to consumer bundle. Its live tv and a way to aggregate the content in a dicht way. I think investors are willing to give disney a pass especially with the losses right now as they ramp this service i dont think and expectations for disney plus are maybe 5 million by the end of the year we know they launched the deal with verizon verizon has 150 million subs here that could be sticky injury youre probably going to see expectations for disney plus ramp for 2020. Going back to the blended multiple if you looked in the quarter the media revenue is about 6. 5 billion and direct to skurm is half that as long as back to the cannibalization issue, they grow a better clip there and reduce losses you have a story where in stock at new highs in the not too distant future. As tim pointed out in the incredible power pitch. All right, all right. The setup for the stock the fast pitch that one was good as well. Yeah. The setup was interesting off of that 147 high back in july traded down to 125. Basically a 50 retracement of the move from spring the setup in earnings was really nice number one number two, dont discount the espn thing i remember sitting on this tevfik two years ago when disney was 99 and floundering then reported during our show theyre all of a sudden gambling is legalized. That was a life line espn needed thats why people flock back to espn ill tell you not that i gamble on sports but youre far more inclined to watch if you have money on the game than you dont. And thats way espn is doing as well as they are now what does it mean . 147 and change was the high back on july 29th or so thats your line in the sand we need to close above there every oh the next week or so i dont know it if it gets there tomorrow but thats the bowing pp 25 times next years earning. You can neighboring an argument that thats not that expense disbelieve with the earnings in the book does that lessen the pressure on the launch next week of disney plus. I think so. Because we dont know the numbers. They gave us numbers 7 million subs and 24 million subs by the end of 2024. We all summarized and tried to get whether the Distribution Channels increase or whether espn plus tells you youre going to be stronger i think they get the benefit of the doubt. Its interesting, the irony is that as the competition heats up seems like everybody is getting a little bit of pass in the short run. Look at netflix, despite the fact that it had pressure once the announcements were made. Youve seen netflix rally as competition got tight ner the last month or so the thing about disney that i just maybe ive said this but i want to say it again there is four businesses here all kicking it studio is up 52 , operating income up is 72 overall. And thats a business thats a 6. 5 billiondollar business. Parks and resorts, 6. 5 million business studio about 3. 5 if you look at the dtc, 3. 5. Four Large Businesses doing well separately thats why i i think this is not just a Media Company this is kind of a mustown. You made the point yesterday we might not know the fallout of this for six months maybe longer as people start looking at what the content offerings are and deciding how much theyre paying for what so at this point with disneys run, i mean thats a lot given were not going to know the numbers. Yeah. For a long time. Works to their benefit or not. Depends on the launch. I think we dont have enough information to know. To tims point what we know about the businesses that are not in as big flux, everything is going well. Though studios are very lumpy. They shouldnt get a huge multiple to me is comes backs to netflix. How can netflix be valued here when disney is there i just dont get it. Here is one id go back to the parent of cnbc comcast is trading inspect times next years earning growth 5 sales growth. You think of the dynamic that is disney is keying on. Comcast has had this in the work a long time let oaf the stocks can work exnetflix. At a pris pinpoint they raised price earliyer in the year and disney plus we know is 6 or Something Like that taking off content and making it there. I think that one of the things that disney will start to trade off of when this Service Launches next week theyre going to introduce in mandalorian. Stwarps show you cant wait. I cant wait for it but think about it this is a 6 a Month Service you get all the navlg all the lucas, pixar with disney stuff and theyre branching out doing a lot of stuff thats exclusive to their service. So comcast is interesting, the Parent Company of the network by the way because they have theoretically the same pieces in place to create the is a same fly wheel as disney. Sure. Can it create as strong and powerful as disney. At half the valuation is it working wofrgt the bet half the valuation of dipz here half the valuation of comcast by the way is cbs which has been floundering recently bouncing off the bottom at a certain point its the values game. I dont know with comcast you need the answer. You we can all agree disney deserves the multiple. But should comcast trade half that shouldnt they get a bump in the environment . And then cbs i cant wait for the manned lynn reign. The you can watch it together. Can we do that. Yeah that will be fun. Our next guest knows a thing or two about media both hulu and netflix. Lets bring in Simon Gallagher great to have you with us. Great to be on. It sounds like youre more concerned with the decline in the legacy business and the ability of the business to offset that. I think so. You look at the disney plus business not necessarily turning a profit until 2023. Its still a long way up and the rapid decline of the broadcast and the network the broadcast networks and also the pay tv channels its happening very rapidly. And im not sure that the disney plus business is going to lift the the numbers fast enough to offset that decline. But eventually do you think they will . Look, theyre predicting some big numbers. I think that disney has always had a great business but do i think it can . Look im not sure. Im optimistic what disney is with the fox acquisition is this really Global Business i love the fact that they have acquired hot stair in india as part of the fox acquisition. S it there are two misses coming in the fray that maybe the Analyst Community has hasnt looked at that may see them rerate a bit. Im not asking to you play trader but we talk about netflix all the time and we talked about netflix where there is no profitability and major cash burn and people and investors are giving the company the benefit because theyre banking on in distribution effectively a certainly a leadership in this pipeline. Talk about that and bring it back to disney which doesnt necessarily for the market have to be profitable in that core business right now. Sure. Look, netflix i think en a i said this last time on the network. A very clever about bringing down the pe ratio at 92 today. I think you see the pe ratio dom come down reed hayesing on deal book was heard to say were continuing to spend. But they are spending sensibly they will spend a lot of money on high profile shows but they are getting martyr and smarter about the volume of shows they need and some assets they can curate the roster so to speak they can bring down what shows are not necessarily performing and spend more on other shows. You have to in thinking about the preparation for the show i was nifrpging would you rather manage a declining broadcast and pay tv business at disney or rather be trying to manage to bring the pe ratio down in netflix . Its an interesting challenge at both businesses. Simon, excuse me thank you very much for your time. Great to have. You likewise, thank you. Im happy he plays would you rather. At home its a good sign. Ground breaking television here at fast money. Why are you looking at me. I thought that was interesting. I think here is the issue. They have no choice. They have a declining Media Business why is bob igor still in the ceo seat they made huge bets the last few years as he extended his tenure and hes seeing this gout op were not done seeing consolidation among media assets there is more to buy they are probably buying ea to broaden all the cone and be a onestop shop on multiple mediums. Thats the bet it bet for disney for decades. Coming up gap shares plunging after announcing ceo art peck leaching the company well find out whats next for the retailer the 10year yield sighing the biggest gain since the 2016 election process that has one top technician putting faith into one sector well tell what you it is. Live from new york city times square much more fast money right after this more exciting than than getting a lexus. Giving one. This is unbelievable it really is. The lexus december to rembember sales event lease the 2020 rx 350 all wheel drive for 419 a month for 27 months. Experience amazing at your lexus dealer. Welcome back to fast money. We are following a developing story on gap in the after hours session. That stock down about 6 on news that ceo art peck is stepping down Courtney Reagan at nyse with details. Informs a bit of a surprise to the market, at least we didnt get any indication this was going to happen. Ceo art peck is stepping down from gap which means he will not lead the remain co company once the Old Navy Division spins out expected to happen by 2020 and gap also giving guidance in the Third Quarter saying comps down 4 . The street expected them to be done but just 2. 2 also saying Third Quarter earnings in a range much 34 cents to 36 cents adjusted. Street looking for 5 a cents. The fullyear guidance pretty far below what the street was looking for. The cfo citing slower foot traffic and further results haefrped byproducten a operating challenges the ceo art peck just speaking in new york recently at the very end of october at the wwd conference talking about sustainability and not giving any at least public indication that this was happening. Shares are down 6 but again a combination of the guidance and peck stepping down, he became ceo in february of 2015 he has been with the Company Since 2005 and has held a variety of different positions he has led digital, the outlet he led gap north america well see what happens with the company in the interim robert fisher, who is the nonexecutive chairman of the board will be taking over. So there is no permanent successor that has been named at this point back to you. Thank you very much, Courtney Reagan with the details on gap you know when when i when i heard this news i turned to karen saying why is he stepping down before the Company Separates . And you said probably lousy quarter. This is the Blind Squirrel side i think the stock is really really cheap but deserves to be cheap. Theyve been me andreaering and had a tough time i think the spin of old navy is the right thing to do. You dont need to touch it we have to wait and see who they get. If they get somebody great, the stock trades up. If its somebody okay, whoever the person come in do a kitchen sink quarter mark it down as much as they can. Mark it do zblun i think there are better places of to be. Or they let the interim keep going and sell off. Not selling from a position of strength. Right, right. Depends on the price. It depends on the price. Its interesting on a day when ralph lauren up i dont know 15 and another brand that seems like left for decade may be talking about that later. But if you look at l brands, a couple of other brands legacy brands that have been struggling to find their way because the core cash cow has suddenly run out of gas at a time when the entire distribution model is probably broken to online. Remember this guide, the Third Quarter guide. They reporter o report on november 21st. Two weeks i can can do that math 34 cents to 38 cents to karens point i bet you they guide lower ever off the guide lower. 15. 5 was the low with he saw in july in terms of the owingy bera asked him about the interview. Nobody goes there anymore its too crowded. Nobody goes to gap anymore. Its not crowded. Its not about being crowded nobody goes. Thats the point you got to wait and see on the 21st trades down to 15. 5. You are talking about retailers that are brands. The Department Stores are interesting here we get the reports in the next couple weeks its going to be before black friday macys. In a good way look at this. Hold on you have been as outspokens against Department Stores as anybody. Nordstroms up 50 from its its 52week lays macys up 52 . The stuck in a range it reminds me a little bit of u. S. Steel prior to earnings last week. This was a stock also down 50 or so from the from the 52week highs sentiment was so bad they dont have to say anything good just not anything bad for it to go up. And we are making incremental new highs every day. 30 bps on the s p. And we saw it in energy. We see it in the material stocks you might see it if the consumer data is increasingly better why wouldnt you take a shot on some of these. Guys bad owingy bera. Sorry feels lining like deja vu all over again when saw i that. When you think about macys and u. S. Steel, whats aligned is Balance Sheet when you talk about macys theyre talking about what they have to do with the Balance Sheet certainly on u. S. Steel. Relief on the Balance Sheet is important. A lot for fast money ahead concerning relevant tail a big move breaking up the big move higher on the high end as well. Here is what we have coming up on the docket. Announcer major moves in the bond market, as stocks climb to new highs. Well break down one sector thats been leading the rally. Plus putting the bling back in the luxury space well look at one stock thats leading the charge today enfa meyree. At and a lot mor wh ston turns. Two are going ta great trip. Yeah, have fun thanks to you, we will. Aw, stop. This is why voya helps reach todays goals. All while helping you to and through retirement. Um, you guys are just going for a week, right . Yeah thats right. Can you help with these . Oh. Um, were more of the plan, invest and protect kind of help. Sorry, little paws, so. But have fun send a postcard voya. Helping you to and through retirement. But in my mind im still 25. Thats why i take osteo biflex, to keep me moving the way i was made to. It nourishes and strengthens my joints for the long term. Osteo biflex now in triple strength plus magnesium. Whwhat do you see . He world, we see patterns. Relationships. When you use location technology, you can see where things happen, before they happen. With esri location technology, you can see what others cant. Not much, how about you . Are you answering my text in person . I am. Yeah. Lol. Come on in. This is tech that helps you be there. The nissan altima. Now offering the most techadvanced engine in its class. Welcome back to fast money. Markets soaring today as stocks hit record highs the moves in the bond the 10year seeing the big jump since President Trump was elected in 2016. The big move following back and forth reports that the u. S. Appear china plan to phase out tariffs. It felt like the equity side of the the markets were skeptical of the headlines from the beginning. Again, the volatility in the bond market, if we saw half the volatility in the equity market as in the bond market. It was Headline News every day 24 7 its remarkable the moves. The 10year yield a couple weeks ago was 1. 50 now norgts of 1. 90 percentagewise its incredible volatility in the bond market in this magnitude is not healthy. Equity market sees Something Else i thought 1. 8 oh was a line in the sand now significantly above. I think dan is dealing you something about 2. 25 and thats when the equity market gets skord. Im a dumb stock jockey but ill tell you the markets didnt love rates going lower this summer too much and they are not lochg it going up too fast too i dont know the number whether 2 was the breakdown in the 10year treasury yield people wanted to see hold early in the summer i dont know with the stock Market Making new highs every day if we see rates go up quickly thats a problem. Isnt it a good sign we held on the equity side despite the move. I never understand stood the hope for bad dat and id rather have the economy improve. I think its a good sign until far higher than here i think. There is no question its a good sign. If you look back where we were on october 3rd, the day we rallied the entire market we have now gone almost 9 on the s p in 25 sessions since then. Bond yields in the or somewhere there near there no question there was a deflationary low growth spiral and that was part of it. But some of this was coincided with a fed jacked up the Balance Sheet again. Again im talk bag stealth qe which you you cant defy were over 4 trillion on the Balance Sheet. Now cut three times in a prop are we reliant on the fed . But the short run the bond move was depended on the european yields process if you look at bund and jgb they are both up 70 off lows and driving u. S. Treasurys. Well the monster move in the bond market having an impact on the financials and one top technician doubling down on the bank bet clips veren asset at the plasma to praek it down. We have to start with what kicked off the entire move, the uninversion of the yield curve u. S. 2s and 10ever 10year mintz 2 year the low nchgt 5 basis points on august 7th the irony late august, recession talk pervasive printing sub50 thats when the move toward financials and cyclety began we have a choice here. We have banks up 22 since late august are we talking profit or press and i think we press here. Im giving you a couple of names where there is more to go. Citi fwrup, obviously a bellwether but lets go back and think about the history here this is a stock that doubled off the 16 lows. We then had a 40 drawdowntown the last two years its just beginning to come out. We got up to the key 73 level. The next nearterm target is 86. Longer term, this is 100 name. Goldman sachs, another name with a bear market. Down 47 every oh the last two years. Again, starting to bottom here just broke out above that 2. 22 level. Tactically, 250 is the name there. And then lastly we almost feel dirty saying because its been such a bad stock so long but even the european banks quietly acting better. This is Deutsche Bank. I think were near resolution. We have been in this little wedge the last number of weeks we think ultimately it breaks out. The one number i want to give you there are 30 analyst kofrpg db only one with a buy on it. Extremely out of consensus, the chart Getting Better it appears around the world are kbrochgt the curb steepens be long banks, double down. Chris, come on over i mean no question about chris. Can we Say Something about will bringing the clair as chris comes over he cracked his head the other night. Bleeding. Pleading on the show. Hurt. Staples in his head. For real staples. Players play hurt. Ouch. Deutsche bank . Is it Deutsche Bank or does kommers bank have a light at the end of the tendle. I even put japan in the camp. All the dirtiest banks, all terrible two years all turning here as well Deutsche Bank can go go 30 to 10 this is a 30 stock a few years ago. But look at the japanese banks have started to turn here as well uni credit also turning. Garbage. This is a group move on the garbage names go up the most when thats the case. In a game of would you rather. Umhum. Would you choose u. S. Banks or european banks . I think ultimately were people playing for duration and time horizon citigroup jp morgan thap thats where we play structurally. The move in the bond market has implications on the dividend yielding stocks. Weve seen that play out a bit what are you seeing in terms of where that trade goes . I mean is the air gone from that trade. I think whats so remarkable remember late august, recession talk pervasive, the yield curve inverted pmi broken 50. All of a sudden you see the move toward cyclety we had 13, 14 months of lower Interest Rates there is a stim la active effect and all corners of the world pricing it in right now. Thats at the expense of the very high pe utility staple stocks i dont think those are done correcting i think there is a move towards cyclicality its beginning and you want to use weakness to get bigger there. Youre talking about the beginning of the overshoot to the upside you mentioned 85 in terms of citi which i guess you can make an argument for. But are they going to just catch up to where jp morgan is valuationwise or does jp morgan rise with them. I think whats notable talking about jpm this is an only us bank at alltime high. Highest level its been. Spent two and a half years going no where the message is dont get too cute these are two or three weeks old. Press themme chris ver own what are you buy zblag if you look at the european banks look at the eufn. Etf. As chris pointed out they have started to run who is more levered to Interest Rates. Theyve been steroid by the ecb. The rest of the world trade is significantly outperforming the u. S. Em outperformed by 6. 5 . The dax . Local or dollar terms outperformed since october. I feel like since you feel better about retail names maybe you feel better about banks. I said on options action, jp morgan breaking out. But jp morgan specifically. Ive also been saying listen when you look at the technicals take the name off it and you look at the environment you look at the Market Sentiment yes they should break out and continue to go i just dont i cant put my finger on the fundamental drivers. I want to make one point on the tlt one of my final trades last week. I actually think that rates probably see in the 10year see resistance at 2 if you look at the tlt its a nice uptrend bouncing off it today at 1. 35. Thaefrs the breakout level at july 31st. I think tlt is a deceasant setup if you think the rate run comes to an end or has resistance. Thats cheap volatility there is there is a free oa for. The always good oa good stuff. Coming up it waept just disney out with earnings dropbox, zillow on the move after the reports. Well give you the highlights from their calls and alibaba gearing up for singles day the worlds biggest made upshopping bonanza. We break it down stay tuned high protein. Low sugar. Tastes great high protein. Low sugar. So good high protein. Low sugar. Mmmm, birthday cake pure protein. The best combination for every fitness routine. Through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From managing inventory. To detecting and preventing threats. To scaling up your production. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. By the way, shes the it wasnext mozart. G day. As usual we were behind schedule. But sophies enthusiasm cannot be dampened. Not even by a runaway donut. We powered through it in our toyota prius. Because a stars got to shine, no matter what. Its unbelievable what you can do in the prius. Toyota lets go places. Are all nongmo, sundown vitamins made with naturally sourced colors and flavors and are gluten dairy free. Theyre all clean all the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. The amount of Student Loan Debt i have, im embarrassed to even say. We just decided we didnt want debt any longer. I didnt realize how easy investing could be. Im Picking Companies that i believe in. I think sofi money is amazing. Thank you sofi. Sofi thank you, we love you. Filmgate is growing really staffing a small bquickly and. Sofi tis challenging. Ve you. I needed to fill a production coordinator role. I was looking for someone with specific skills. So i posted a job on linkedin. Maribel had all the skills i was looking for. And looking at her profile. I saw shared connections. That was a plus. But the most important thing. Is the ability to connect to people and she had it. And i knew. She was the one. Post a job today at linkedin. Com grow welcome back to fast money. An earnings whip on after hours moving droppings on zillow on the move after reporting. Dedra bosa on droppings. And diana olick covering zillow. A really solid beat process. Q 3 consolidated revenue ten sending up the stocks 10 driven by outperformance in the preemier agent segment and ut out performance in the ad business its profitable but the ibuyers business is not zillow currently using the traditional ad site and website business to fund the. I i buyer segment which investors have been watching chosely saw revenue of 384 million. Up 55 sequential increase from q 2. Imq 3 of last year reported 11 million from revenue from the segment. During q 3 zillow purchased offered sold over 1,200 homes. Ending the quarter with 282 homes on the Balance Sheet launched in eight markets in q 3 and will expanse to los angeles by the he said of the year with plans to be in 26 markets by 2020 this kind of growth from a standing start may not be unique but it is certainly rare and was our hope to not just get and it was our hope to not just get on the feel in the big exciting consumer category but to become the team to beat now and i will of laufrmd a new flex pricing plap plan for agents only paying after the deal closed. Its being tested in a few markets. Outside of the markets though premier agent revenue grew 3 year over year and zillow saw strong 19 Revenue Growth in the rental listings business we all know how hot that rental market. Diana thank you in washington for us on still o. Its interesting on because the segment of the business where they buy and sell themselves and having to carry the homes on the Balance Sheet. Thats the part of the business that was strong in this quarter. Thats what attracted a lot of shorts in the stock. I think it should attract shorts went from a asset light high margin business to asset heavy low margin business that doesnt make sense. Linked to the economy. And we had steve iceman he talked about why its a short of his. Its not a monolithe of the markets that one needs to get up to speed in. There is a big short interest. I think i had 24 correct me if thats wrong. But so any beat, you know, you see some pain here i dont love that part of the business at all. Yeah, this was a bounceback type of a print for a company that is a well documented on the shortside. I do think there is cyclicality to the business. And i think at some point Interest Rates are an issue. Theyre not here existing home sales have gotten a bump here on Interest Rates. And i think the cyclicality that they added in the core Business Model makes zero sense thats not where you want to be. You ask yourself where do you put the short back out this was a 51 stock that cratered traded down to 28. 5, 29 do the math what are the shorts are they covering here some well will i imagine mr. Iceman layers back in but the real level if urine klein 40 or so would a 50 retracement of the high this summer ands low with he is saw the shorts cover, get out hope to trades up to 40 and layer in another short position. A news alert for you, the race for president may be getting more crowded elon mui has the making. Michael bloomberg is enter the democratic president ial candidacy. The New York Times have reported earlier this he was expected to file paperwork in alabama some time this week. That state does have an early filing deadline. But the New York Times did caution that that still doesnt mean he is 100 certain he will run. It just means that his campaign could potentially be increasing how serious it is about entering this field now, obviously if he does enter that could change the dynamic of this race. This race has been defined by the debates over economy, over wealth, the ways businesses amassed corporate power. Michael bloomberg of course billionaire businessman, former mayor for new york and nbc news now confirming he is preparing to enter the race. Back to you, melissa. Ylan, how does it change the race if you ar moderate democrat particularly one in this business we are all associated with, i would imagine this is a very viable alternative to what is currently out on the market. 100 . Karen did a little cheer before during the commercial break. I understand why i think he sees an opportunity given some of the polarization going around giving scott woman ners interview he was watching. Saying maybe i have a shot and maybe there is an entry point. I dont want what he is gunning for but i dont know if he can ultimately be the president or get elected but this changes the dynamic. What he is trying to do is listen who caught a lot of steam over the last couple months warren and bernie not bringing the middle in in in the general election what bloomberg can do is bring it back towards center on the democratic side. And that this is a question weve been hearing a lot what does it mean for the markets self warren is i think should be good news. Yeah, i mean its all youre doing is setting up a more middle of the road Playing Field for markets which, look, whatever you want to say we went from a pen lump that went with this and then this way in terms of regulation versus not regulation say what you want about politicsle ideology, because some of its confusing today but ill say this. If you get a centrist candidate for a market that expects change thats taking a lot of the edge out of the tension at least on the overall. We know there are sectors coming under particular duress. And lets be clear the Banking Sector off and running is off and running because there is zero regulation out there right now. Im not saying banks are good are bad guys either. Im telling you relative. Its a environment. Relative to. Yoend about zero regulation. There is a lot of compliance. There is let eye of rules and compliance there is a lot of sarbans oxly necessary governance but i dont think there is an incredible amount of push on banks to say get out of gat imwhere i think that he was the predisposition of the other dmoorgs. Back to earnings turning to another stock in the after hours. Dropbox lower by a percent on the report dedra bosa in San Francisco about with the details dedra. Melissa, shares have been bouncing around since the results hit and still are so bear with me while tell you whats happening on the call shares turned into positive territory after a revise up of the full year gains. Pushing that dropbox up above the pichlt o price of 21 but dropbox hasnt gone anywhere since going public in march of 2018 the key has been paid user growth and it hasnt been as strong as the veet has hoped so the company has been undergoing a reinvention moving further into cloud services. Revamping its desktop app partnerwood slack and zoom and its still focusing on getting more sbrps enterprises on the platform. On the call drew houston says they are seeing success from the new drpgs. Millions have used it since the launch the q a portion getting under way. No surprise they are asking about engagement shares turned red a few minutes ago as execs say they are specking slightly lower paid user growth the next few quarters. Dan, dedra said it this was a march 2018 ipo there was optimism about the cloud based businesses here is the problem. This is a revenue base only growing 15 a year on a gap basis they lose money on their sales of 1. 6 billion expected this year. Its not that exciting a story thats why this thing is washed out. They didnt give you anything there to say things are changing coming up, luxury stocks seeing rich gains lately well at the you which could bring a shine to the pofrlt. Plus alibaba gearing up for the super bowl of shopping a singles day getting ready to kickoff we tell you how options traders bet on the big event dont go anywhere. Dont get mad. Get e trade, dawg. Whether your beauty routine is 3or 57,. Make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. Announcer record highs across the board a greenlight for investors in tomorrow the sectors to wind chill. The headwinds ones horizon squawk on the street, 9 00 a. M. Eastern. Welcome back to fast money. Stocks hitting new alltime highs today after china said it reached an agreement with the u. S. To roll back tariffs. And that news could not have come at a better time for chinese giant alibaba. Singles day the worlds Biggest Online shopping event coming up monday with the stock jumping traders bet more gains on the horizon. Our xp directors is at the plays map what are you seeing. As you said singles day next week lets soo how the market shaping up with options volume calls outpace puts three to one. This stock ha has been on an absolute tear. Look at the at the money straddles imply. You can see the no straddles implying a 3 move between now and next weeks expiration id like to dive in a bit deeper into this implied volatility and see if we can identify trends and opportunities. All right. What we have here is shortterm implied volt tilt over the last six months you can see we sold off aggressively from right here postinjures we have really sold off all right this this year area right here presents a great opportunity to get in and get long options at a discount lets take it a step further keeping that in mind what we have here for you is the stock chart. And there is two trends at play here the first being, well, we have a shortterm upfriend extremely aggressive here. Secondly what we have is a longstanding resistance level around this 180 level which has been in play some time petition continued to test this time and time again and just recently broken through with somal real velocity here, real options volume, real stock volume as well taking all this into account how do you like play you go it. If you think the trend continues continue what is i like is november at the monte. Cash outlay is 1. 5 . Putting the breck even within striking distance. Thank you really good strayed setup identified a catalyst there. Tells us the price of options are really cheap and then the technical setup has not been able to break out above that level. So the fact that you can risk one, 1 the. 5 over the next week and a half with the catalyst looks like a good setup. Full option show options action tomorrow 5 30 p. M. Eastern time up next Ralph Lauren Ray racking up big gips are begins look at the cramer cam jim has the need for speed ray laying out the winners the race to 5g. Live at the nasdaq in times square much more fast money still ahead. Whether your beauty routine is 3or 57,. Make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. That could allow hackers devices into your home. Ys and like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. Its raining everybody have their umbrella . Guy, you have yours. I do. Storm dud. Galoshes. Welcome back to fast check out shares of ralph lauren racking up big gains, the best day since last may ralph lauren one of the luxury retailers shining of late. Check out tiffany. Ka pri hollings tap evidentiary beating the Broader Market the past month should investors look look to luxury to bolster the portfolio . At any one time karen i feel youve owned a few of these. Probably and i do now ralph lauren one i dont own today up a lot i thought it was up more than i would have expected given what they announced which was fine. I mean, we saw some better pricing thats good, better praysing in outlets, north america good, asia weaker but, you know, thats not specific to them at all. Obviously anyone with hong kong exposure, the general china tariff situation it was a great quarter relative to if you have a low bar i guess. The stock here is sort of okay not great in terms of the relative value i look at Something Like ka pri michael cures verscace and jimmy ciao the they announced the stock down 28 crepts or and today reacted if ralph lauren is 15 times earnings maybe we shouldnt trade at this. That continues to surprise that it trades here a lot of the things helping ralph were worse in coarse as well michael coors did better i dont understand the discrepancy. One thing i own that is new is tiffany. En a i bought it after Louis Vuitton made the bid i bought it yesterday when when tiffany said we dont think its enough. Right. As opposed to were not for sale thats a very different message its sort of know what we are now its a question of price i think it has to be something close to 140 just because it did trade near there and Trophy Properties always get sold, premier name like this you dont get that many tries at it. I think Louis Vuitton will pay what they have to. Havent we seen this around the world. Curing lvmh, quarters if trade is on youre going to see that youre going see it at the expense of the business big box retailers. This rotation is streamly negative for the cpaomnies leave it at that. Up next, final trades im embarrassed to even say i felt like i was going to spend my whole adult life paying this off thanks to sofi, i can see the light at the end of the tunnel as of 12pm today, i am debt free we have no debt, we dont owe anybody anything, and its fantastic not much, how about you . Are you answering my text in person . I am. Yeah. Lol. Come on in. This is tech that helps you be there. The nissan altima. Now offering the most techadvanced engine in its class. Ndoprevagen is the number oneild momempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. For farmers here, this is our lifes work. But when a recall happens, perfectly good food goes to waste. Now, weve got away around that. Looks good. Were on target. Blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. Its used by some of the biggest retailers everywhere. A nice wedge. So more food ends up on your table, is that daddys lettuce . Yeah. And less food goes to waste. Announcer all the leaks about the trade coming from the china. Either you hate trump its crazy to treat the communist party as a credible source. Should we do final trade. Frontmen very interesting go to twitter if you want to know what we talk about. U. S. Steal steel on the move with other high leverage stocks. Lost but making good type capri. I like it. Dan. I think acquire did what they needed to do put a bottom in i like it with the 60 stock. We missed your birthday and i feel awful about it. Shouldnt feel awful. Happy belated birthday. Happy birthday. Cvs can go higher on all the noise in the industry. Monday by the way. I know. See you back here tomorrow at 5 00 mad money with jim cramer up next my mission is simple, to make you money im here to level the Playing Field for all investors. There is always a bull market somewhere. And i promise to help you find it mad money starts now hey, crimer. Welcome mad money. Welcome to cramerica other people want to make friends. Im just trying to make you some money. My job is not just to entertain but to educate and teach you so call me at 1800743cnbc or tweet me jimcramer. After a terrific day where the dow surged 182 points, s p gained. 72 , nasdaq. 82 , you need to know thi