Transcripts For CNBC Fast Money 20240713

Here believe it or not, maybe your stat of the day, 164 of the s p 500 are actually higher now year over year for all the market damage over the past year. A good chunk of the market still remains higher we have a great Investment Committee lined up for you again today. That would be guy adami, and karen finerman, who will join us in a bit let us begin the show by focusing on four big mac row calls today from well known firms, all kind of saying the same thing are you ready, folks lets walk you through it, number one, goldman sachss, the market urn likely to make new lows morgan stanley, pull backs should be bought jpmorgan chase, were going to hit all time highs in the market next year. Piper stanley being more direct. The bear market has concluded. There you go guy adami, you heard that, you have four calls all saying the same thing, its not taken away from main street and the human toll we understand we are focused on the markets. Do you agree with those pretty optimistic views no, but i hope theyre right. The short answer is i dont see how we get there i thought the market when we made an all time high of 3400, 3393, you are assuming 160 worth of earnings. The market was trading at 120 times. Were not going to get anywhere close to 160 you could see 100. Even if you say 130, its a 20 discount the market was expensive at all time highs, i think its expensive now, we have a great run off the bottom will we make another new low i have no idea, i dont see this thing continuing to ratchet higher in this current environment, so no i guess theres another way to look at it, which is, i know weve had a little bit of a run here on the tech heavy nasdaq. If you throw 6 to 10 trillion at a problem like the government has, you may expect a little more in some ways. That was guys dog flip in the background agreeing with his view on the market you have to ask what made this quartet of strategists bullish after a 25 move you have to look at fridays action by the Federal Reserve is something i think well talk about for years to come, the day a lot of debt in this country was socialized or at least the prospects of it could be, we talked about this on friday, i wondering what suddenly gets people bullish other than price action is the question. I think were asking today we have seen the plumbing improve by the feds, talking about how liquidity in money markets, credit markets, commercial paper, things that need to move to have not only business as a function, but obviously to have investors feel comfortable in markets thats very good hard to see where equities get away from you on the upside. Theres very little in earnings season that will compel c suite who are not going to give you any Second Quarter guidance or much in the way of 2020 guidance to say much 6 anything does this put you in the same place we were with the job market when people knew we were going to have 6. 6 jobless claims one week, and 5 1 2 the week before, and the market didnt blink. That may be good news for equities here, ultimately whats the multiple you want to play on the s p 500 when were going to be going through a painful contraction period the market hasnt been here, the last time we were here, trading the upside on the market was june of 2009 its hard to feel the backdrop was as strong as it is there you have to be cautious when you get this response from the street. You talked about this, you can disagree with them but these are huge firms with continuings or hundreds of thousands of clients saying we think the bottom is in, if that puts money to work it could become a selffulfilling prophecy, could it not yeah. Of course it could be i think you have to go back to 2019 and think about that rally we had in the q4, where we broke out in the s p 500 and over the next few months we went to the highs. At the time every strategist on the street was tripping over each other to raise their rates. Then they started to do their repoe operations we had this liquidity reduced rally late in the year here we are now, the stock market crashed commodities crashed, the credit markets crashed, and we have a situation where were off the lows were at 3400 to 2300. People dont want to be caught offside at some point this year, find the bottom. If we go back to the highs any time soon, theyre going to be in trouble i would not be chasing tails around here. Thats whats going on in my opinion. This is what these infrastructures are there to do, theyre there to keep people invested this is a time where people should be preparing for the worst. And hope for the best. Morgan stanley lays it out clearly. Pull backs should be bought. Right, i dont see this as a pull back, actually. I see this as a giant leap up, were down 20 from where we were, i think the market now, after the run weve had is so much more expensive than it was at 3400 given the uncertainty that we have, this i mean, i guess if theyre saying a pull back from here, but this to me is not a pull back given whats happened in the world. So im always long, and thats sort of my cross to bear, im not adding new things here, because i think this market is really expense iive. Very expensive, lets bring in another voice to this conversation that is Christina Hooper well known to our audience its good to see you again you heard the conversation you heard the calls from those banks, there tends to be optimistic bias on the street. You believe that to a point. Reading your research correctly, listen, be smart, think for the long term, you want to buy when things are less expensive. Brian, thats absolutely right. Let me qualify that by saying we cant think of valuations right now as an exact science. These are extraordinary times, and the dominant factor impacting risk assets is not valuations, it is the fed. What we learned from the Global Financial crisis is that when the feds throws money at a problem, typically risk assets do well, regardless of valuations is there anyway to gauge valuations right now i mean, i think tim made a great point, with all due respect to our coverage i dont know what earnings are going to tell us the ceos dont know, theyre not going to say anything. Is there anyway to gauge how cheap or expensive the stock market is right now . I think it can be a fools errand, certainly we want to try, but it is difficult to do that i think what we need to do instead is look ahead to what we can imagine once recovery gets underway and also look to the policy tools that are being utilized now. Its nothing to sneeze at. We have a fed thats far more activist than it was during the Global Financial crisis. And we have a congress that was up until now fully functional and relatively generous. This is an environment that should be supportive of risk assets that doesnt mean a straight rally up, it means a lot of volatility, but i do believe that risk assets are benefiting from this environment. Let me ask you a question i generally agree with everything youre seeing about the fed. The fed, the extraordinary measures the fed has done up to this point i think about the Global Financial crisis we didnt bottom for another four or five months after that that is correct, but i think that the market knows what to anticipate now because weve seen this before so were seeing a faster reaction time. That doesnt mean that this is over certainly i expect more volatility, i expect up days and down days, i believe that as we see the fed to continue to bias ets, and really expand what its buying, that should be positive for stocks just quickly, what looks from a macro perspective sectorwise, good for your team at invesco. Technology looks attractive its an area where were likely to see improvement in earnings and revenue once the economy begins to pick back up certainly companies are likely to spend more of their cap ex dollars on technology goingforward. Ditto for some within the Communications Services area as well Christina Hooper, invesco, its a pleasure to have you on hope we can sit around a physical table in person soon. Dan nathan, im going to go to you you talk about the maga trade, the one thing, when this is all said and done. The one thing were going to learn, is that work and how we live will change i think that christinas point is Big Technology firms whether its through contract tracing. Work from home networks. Technology is very likely to be the big winner here. Would you agree or disagree . 100 . I think the outperformance is telling you that i was just looking at intel down 2 on the year. A very very cyclical part of the economy. Semiconductor. It was a big laggard to much of the space. When you think about some of the things that are going to come out of this crisis, internet of things is going to be a really important part of that, some of the technology that goes into autonomy this is a company that spent the last few years buying companies, they spent 16 billion building out tear i and mobil eye theres a lot of things these guys should be piecing together over the last few years. Its hard to think about microsoft, apple, amazon, and maybe even alphabet given the way they have from advertising that wont benefit from some of the new trends that emerge in the post coronavirus culture okay. Im sure we have a lot of thoughts on that, speaking of technology and being at home we have breaking news on roku. Brian, thats right, roku shares spiking in after hours trading after the Company Announced it was given an update on the impact of coronavirus beginning in the late latter half of the First Quarter, roku was starting to see the effects of large numbers of people staying at home, this has resulted in an acceleration of growth and viewing the company withdrawing its full year 2020 outlook, saying it sees First Quarter revenues thats versus 305 million it previously reported. It reports 3 million new active accounts since the end of 2019, it sees its First Quarter streaming hours of 49 year over year you were just talking about the tech trends that will be forever changed because of this. It looks like there has been higher adoption much roku and its business and well see if that sticks around as well over to you. Well see if those gains stick around julia boorsten, thank you. I wonder if some of the things like roku will be temporary. Hopefully well all be able to leave our home again one day, and ill take you to a drivein theater guy for a malted. Ill have the twizzlers as well, my own bag, by the way if you go back to 2018, look at that stock, tops out at 70. You go back and look at the last couple weeks where it traded down to. It retested that level the numbers are good kudos to dan nathan. He said you have to avoid roku here i think you have to add to this position to spite the move higher i think this is good news, i think roku on the back of i think the stock continues to trade higher from here, brian. Tim, your thoughts. Well, in a world of haves and have notes, you explain the backdrop for where the numbers come from. Ultimately, the question is valuation of roku. I have trouble in this environment buying a lot of these high multiple stocks either the ones in the defensive. But ultimately, if anything, those are the stocks that are setting you up for not only significant disappointment in terms of their comps that which was defensive today, doesnt have a motor around it tomorrow have you to be careful about chasing those stocks in the middle of this i think netflix is one of those, ive already said that that had a big day today good conversation there on roku breaking news, that stock up more than 9 you know what was not up today that was oil despite an historic and record production cult agreed on. Earlier today, we had the opportunity to do a long interest view with the saudi Energy Minister. He hardly gives any interviews we had one there are stocks that are up over the past year barons laying out 12 of them. Which of those names, look at all the names, does our Investment Group think could be ldibyes from here to come. Wel g into that and hear about oil coming up next you should be mad your neighbor always wants to hang out. And you should be mad your smart fridge is unnecessarily complicated. Make ice. Making ice. But youre not mad because you have e trade which isnt complicated. Their tools make trading quicker and simpler so you can take on the markets with confidence. Dont get mad get e trade and start Trading Commission free today. Dont get mad get e trade and start trading and. L music fades in . Hey hi opecs decision on production cuts was anything but, but after four days of tense negotiations, the group along with the g20. Ultimately willing and able to agree on production cuts heres what the headline numbers show, despite the fact it can be a little confusing opec agreed to a 9. 7 million barrel a day cut for may and june after june 1st, it goes to 8 Million Barrels a day about then 6 Million Barrels a day for all of next year anything can be revised at opecs june meeting. Follow that, thats clear compared to the g20 im going to call it the bank nation brazil, norway and canada, they dont have an opec, they dont have a national producer, they cant say youre cutting this and cutting that they can through Capital Spending cuts, show the market what they are able to do lets call the bank nations 3. 7. Youre looking at probably a minimum of 13. 4 Million Barrels a day, which is 13 of Global Production right now at 100 Million Barrels being taken off the market thats the headline number earlier today i had the rare opportunity to do an interview with the Energy Minister one of the sons of the king with 30 Years Experience in the global oil and energy markets. We talked today, and he said, despite the headlines, he believes because of higher production numbers the opec plus cuts are more like 12 1 2 million. Its much bigger. A half Million Barrels the 9. 7 is too we are doing 1. 3 to bring us back to the 8. 5. This is as a result of the high protection effort. The uae is coming at about a million. And i believe kuwait has made also an announcement theyre coming down by half a million more than what they were doing that was part of the interview there, it was a long interview, by the way, it should be up already, if its not, it will be up momentarily in the interview, one of the things i asked him, when i asked him directly, i said, do you believe that what is happening is the saudis going directly after and trying to destroy the United States shale market, in our interview today, he reiterated his position that that is not the case if you do remember or dont. Back in december, in vienna aus tree yarks at the opec meeting, i asked him that same question directly about saudis opec and u. S. Shale what is the fate of the u. S. Shale sector we like them, and we would welcome them to come if we could i knowby law we would not. We were talking about good friday in an irish way its also a good friday for all our friends in oklahoma and texas and those who are producing. Weve been doing good work for ourselves. But if it means that we are helping them, it would be an adventure. I have lots of good friends in those parts of the states, and i would be more than happy to enjoy with them a dinner, talking about how much weve been doing work for them it would be nice if they could hear a good word for them. Not for myself, but the good effort they would love your 3 cost of production. Thank you, sir that was our interview or at least questionandanswer session in the opec basement he reiterated similar comments saying, were not trying to destroy the u. S. Shale industry. Mostly were trying to put everyone on a fair and level Balance Sheet. Well, you know, its hard to really know what the intent here is, theres arguably some opec plus producers including russia that are putting as much pain on an industry that before going into this was about the pain heres what i say about the cut and the oil markets, ill call my Storage Facility half full, using the metaphor theyre way full i like what happened and i think while it may not be enough, and demand falloff will be 15 barrels a day, i think this really prevents carnage in the second half of the year. I think that weve weve seen the bottom, at least with all the other status quo that we know right now, i cant predict the future based on other ingredients here the religion that literally has consumed many different religions involved in the geopolitics here, of what they have to do its not just about putting the u. S. Out of business, there are a lot of other Balance Sheets that are in trouble. And i think energy bottomed. Guy adami, listen, saudi cost of production is about 3. Their social costs are higher, uae, kuwait, the same. Nobody is winning at 25 oil, are they not thats the point thats cynicism on the part of the saudis, no way theyre not winning at 25 oil, the u. S. Is certainly not wing nobody is wing i appreciate you asking those questions and you have to take the man at his word, what ill say is, nobody might be winning, but there are people out there that are more than willing to lose the battle to win the war, you can tell me whatever you want, one thing were still entitled to is our opinions, and my opinion is, the russians and the saudis absolutely did what they did a few weeks ago might be a month or so now, i lose track of time to cripple our industry it comes to me its no real surprise if you overlay the charlotte of when saudi aramco went public. I dont think its so coincidental i admire that you asked the question, ill take him at his word for an answer if you dont think watching at home, that the saudis and russians dont want our oil industry to be crippled, i think youre reading the wrong book. They certainly might want it crippled, because we have been the price maker over the last couple years, kind of come out of nowhere, from 5 Million Barrels a day, to 13 Million Barrels a day, a lot of that is fueled by debt, and there are companies who trade today that im confident in saying, and i dont want to editorialize, their equity will not exist in a year oar two, but there will be survivors. Are you ready and willing and able to bet on any of these companies surviving this and ultimately making themselves and investors a buck or two down the road not yet i mean, i agree bankruptcies are, of course, coming it doesnt necessarily mean that there will be a complete contraction at all in what we produce. Im wondering, brian, you can probably answer this better, that deal seems tenuous at best, and with it sort of phasing out rather quickly, it wouldnt be shocking to see it not really ever get going, and so im wondering with the oil here. Is oil saying we dont think this deal is so great but were its just bottomed out. Even without your point is well taken, 35 Million Barrels a day, its not enough i asked them, could they get more aggressive at the june virtual meeting. By the way, that interview i think its up on cnbc. Com. If not, it will be very soon coming up, were going to meet another ceo who has taken over steps to lay off 12,000 workers. Youre going to meet him and hear what hes doing as well how close are we to maybe some kind of treatment for this fa meywee g do, youre watchin ston, rback right after this its a challenging market. Edward jones is well aware of that. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. Dad, im scared. Its only human to care for those we love. And also help light their way. Its why last year chevron invested over 10 billion to bring affordable, reliable, ever cleaner energy to america. Positive news about a possible treatment for the coronavirus. Gilead science continues to move forward on that. It wasnt in a clinical trial, it was from a collection of patients that received this drug these are severely ill patients not included in clinical trials. Gilead showed that 68 of them showed clinical improvement in terms of how much oxygen support they acquired. 30 of those patients were on ventilators. 17 of them were able to come off of that support. Seven patients included in this group died because it was compassionate use, there was no control, no group to compare this to in the new england journal of medicine article, the lead author on that saying, theres no proven treatment for covid19 but the observations from this group of hospitalized patients who received remdesivir are hopeful. Hopeful is the word a lot of folks were using. Were going to see that pretty soon gilead says we should see data from its trial later this month. Maybe some good news there, meg terrell, appreciate it coming up after the break. Banks are not set to care about earnings, but the future well find out more as well. Could they give us much needed hope about a possible treatment . Were going to find out and hear aye options traders m b doing around j j a lot more to do on fast money, were back wright after this t r, the world needs all the good that we can do. To everyone working to keep america strong, thank you. Welcome back to cnbcs fast money. Were about to enter what we used to call earnings season its doubtful that a backward looking indicator is going to matter a lot given that the last month of that quarter pretty much saw the greatest single handed slowdown in the history of the american economy. However, we have to pay more attention perhaps to Companies Like the banks are seeing right now and saying about the future. What are you looking for i think that the other panelists are going tohave a lot more constructive things to say about the banks, their earnings power how theyre positioned into this crisis this is not the banking krisz is from 12 years ago. I think its worth noting last year, the last time theres a volatility you know, that obviously portends some difficult time for the economy. We know that has preceded every recession prior, were going to be in a recession now. I make one point the yield curve inverted in 2006, it started going up pretty steadily in 08, 09 just as bank stocks were crashing bank stocks now are some of the hardest hit stocks what are we seeing were starting to see the yield curve after it inverted last summer, its widening out again. To me, that does not that should not mean that bank stocks are out of the woods a lot of their businesses are very exposed to some of the industries that are very impaired and i would say that we are very early on in this economic crisis the color we get from banks, i suspect is going to be somewhat disappointing. Its not going to be were not going to see a ton of visibility on the earnings either we know that things are slowing down on main street. I dont know about you guys. Everybody i know on wall street, despite having to go through all these hurdles seems to be pretty busy volumes are up, the markets were dislocated but that means theres opportunities. What are you closely most watching when it comes to the banks. For me, its all about credit quality, i agree with you, trading revenues will probably be, and Capital Markets revenues will be pretty good. Its really all about credit and as you said the march quarter doesnt really matter. And companies could make it through marine ones that wont make it through the next quarter, survived those three weeks of march they had to get through the finish line. Its all about credit quality. And really having some sense of how badly this Balance Sheet, even though its very well capitalized, how badly its going to get hit i dont know that they have visibility yet one thing thats been focused on a lot is will the banks continue to pay dividends jpmorgan has paid out about 30ish of their earnings and dividends. The rest they use for buy backs and book value i dont know if they will feel comfortable paying out all of their earnings lets say they get crushed by two thirds i dont know if they would feel comfortable using the last third to pay out dividends i dont know that theyll have clarity on that. Im glad that jaime dimon is back, thats great, we need them right now, i want to hear what he has to say about the economy and also the fed really did them a favor with looking to buy every type of security as much as they have loans, they have other securities as well. That helps the banks, to me, its much more important than the Net Interest Margin or the trading revenue or whats happening in their asset wealth business, its just about credit quality. Tim, listen, im not trying to be glib when i say this, i think theres going to be theres going to be a lot of ceos and cfos who come out and say, our earnings were terrible and we dont know whats going to happen. And thats, i think going to summarize a lot of the guidance were going to get. Yeah, i think jaime dimon who has been sober of late on some of the comments. Hes been a thoughtful rational folk here, i think he had a question where he said net income doesnt matter. The revolving loan, theres been runaway issuance, theyre making a lot of money in Capital Markets right now, i care about credit, i dont think we have an insight into that credit horizon in this short term tim seymour, earnings season, like it or not, is certainly upon us, coming up what else is coming up . 7 00 tonight, the story, the economic story, the health story, everything continues to evolve, all the latest you need to know about the markets, about the pandemic, everything that is caught in the middle coming up at 7 00 tonight. Coming up, weve heard the stories about ceos laying people off, while paying themselves more, coming up, were going to meet a ceo whos done the exact opposite, hes taking steps to make sure that none of his 12,000 or so employees lose their jobs. Its a couple simple steps hes done to save their jobs. Maybe other ceos can learn from bob chapman coming up right after this achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. When yowhat do you see . Itical issues facing our world, we see a billion more people breathing free. We see access to fresh food being the global norm, not the exception. We see homes staying cooler, without the planet getting warmer. At emerson, when issues become inspiration, focusing core strengths to create a better world isnt just a result, its a responsibility. Emerson. Consider it solved. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. One of the biggest economic stories out there has been the airlines, travel has been you irly decimated all while they await federal aid. Some of the statistics i saw, theres basically like 99 of people who used to travel arent. Yeah, well, and we have a new one, just got one a few minutes ago. Well share that with you at the end, thats called a tease, brian. The payroll grants that the airlines were lobbying congress for, that was approved by congress, the airlines thought, were going to get 25 billion that doesnt need to be repaid in exchange, we wont lay anyone off. The treasury secretary has the latitude to change the terms of those, hes decided 70 will be immediate cash the airline s dont have to pay. The other 30 , low interest loans they do have to repay. Theyre not happy about it, but be grudgingly, theyre likely to accept these loans or the grants that include a debt component. Heres the concern within the Airline Industry, that there is a debt component as part of these cash grants that have been offered by the Treasury Department when you look at the debt levels of the airlines, consider this, just since february, just since february, take a look at some of the Airline Stocks, you are looking at an industry that has taken on an additional 15. 2 billion. 15. 2 billion in loans, just since february and thats why fitch and other Credit Rating agencies, they cut the ratings for the airlines and basically said, look, they may have to take out even more loans in the future. They may borrow from the government another 25 billion they may have to go to the private market after that. How much more do these guys have to lever up in order to keep this industry at the level of employment where its at right now. I just got this a few minutes ago. The number of commercial flights in this country is down 70 . The number of commercial flights globally down 80 . That gives you some indication of what kind of an impact the coronavirus has had on the Airline Industry worldwide and also here in the u. S were going back to the flight levels of the 1950s probably literally. Youre down 90 in terms of the number of people that are flying right now rather than the same day a year ago. Pictures of one guy on the flight, and hes the one that took the picture guy adami, any of the airlines investable theyre getting back stopped no, but i dont financial alka my notwithstanding. I hear everything you said about the amount of money being poured in here, and i get that part of it, the question you have to ask yourself if youre watching us at home is, do you think over the course of the next 6 to 9 months to a year, were going to have any semblance of normalcy precoronavirus in terms of the airlines my sense is no and Business Travel is a huge part of it, i think people have learned the hard way, maybe its not necessary, so as much as id love to say theyre screaming buys i dont see it, when you see american and united were down 4 you bounced off the lows made a couple weeks ago not really in a meaningful way, in my opinion, along with the Broader Market i think theres more pain ahead for the Airline Stocks im not going to editorialize here based on aggregated wall street estimation most people consider delta to have the best Balance Sheet. Would you be a buyer of delta . No, i agree with guy. Im concerned about the industry, i dont think were going to have a real v shaped recovery i dont think well have one for the industry so, you know, if you look at their onds, and i feel like th credit markets have a better understanding than the equity markets. Until the fed said they were going to buy debt that has become junk recently which was delta, those bonds were trading in the 70s, to me, that says the equity value is too high, given where the credit markets were saying they would be no, i mean, im sad for them its a great company, but i dont want to own the equity all right, karen, thank you very much. Looking there at the airlines. Theres been so many stories out there about companies furloughing workers while the executives raked in all this cash lets flip that story on its head i want to bring in a ceo, inc. Magazine named him the third best or most recognized ceo in the United States. Hes taken some simple steps to make sure that all or nearly all of his 12,000 employees are able to keep their jobs bring in bob chapman, the ceo of a privately held Company Based in st. Louis, missouri i reads some of your stuff over the weekend after hearing your story. Thanks for joining us. You sliced your own salary, you asked some of your workers to take some unpaid vacation time, but what have you done else to make sure all your team members stay employed . Thats what matters right now . Well, one of the things i want to stress is that business could be a powerful force for good and right now our focus is on our people how can we as businesses focus on creating an environment where our people feel safe and valued. What weve done is weve done a lot of things, taking a little pain, so we dont hurt anybody the key here, brian, is your Business Model design, we designed a robust Business Model that takes us through worse conditions were good stewards of our financial Balance Sheet, were going to get through this without hurting our people, that is our focus, that is the responsibility of a leader how long can you keep that up, bob, biced on Current Trends it is my sense from our latest estimate given the backlog we have, and we serve basic industries, like the tissue toilet paper industry, the beverage industry, the pharmaceutical industry, we serve corrugated industries. Our businesses are built around serving robust businesses, so that we again, my responsibility is to give my people in my span of care, a grounded sense of hope for a better future. You should be mad they gave this guy a promotion. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. What are you looking at for tomorrow this is implying a move of about 5 , much bigger than the 2 to 3 or so it averages. Options were above average today as well. The most active calls for expiring this saturday buyers of those calls are betting that the stock could be up that 5 implied move by the end of this week mike, thank you very much watch those numbers tomorrow after the break, barrons names 12 stocks it thinks it could keep running the traders take on names you may want to own right after this it didnt take us long to realize. We werent in the car business. At lexus, we were in the people business. We needed to be helpful. Respectful. And compassionate. To treat people like guests. Its what we all signed up for. And now when people need this most, we will do what weve always done. Take care of people first. The rest will follow. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Welcome back to fast money barrons over the weekend laying out 12 stocks that have benefited from the chaos surrounding this work from home environment. Anything from gilead, dollar general, which pushes video over the web. And even an oil and gas company. Kevin flynn saw that article and said, lets talk to the investors about those names. Were going to start with guy adami. He for a while has liked dollar general. Everyone has piled in and piled on, has it gotten too rich for your blood yes, the move has been pretty ridiculous i would understand why based on what you just read from barrons they would want to take profits here the other stock mentioned, theres new mont mining weve talked about since last fall the goal market wants to go higher if you asked me to pick two, those would be the two walmart doing a lot of good, hiring a lot of people, is the stock attractive the stock is kind of expensive, certainly this market expensive. It deserves to be. As you theyre hiring a lot of people, their Online Business businesses this is a true test for them, theyre passing well now i think they will see a more permanent change to online even if the economy goes back to somewhat normal. I think there will be a shift in how much we do theres a lot to like theres a tiny bit stretched on valuations its kind of walmart light with a walmart light multiple its cheaper, i like where walmart is and what theyre doing. Yeah, i was told tim seymour theres a name on this list you like, i promise ive not seen the notes, im going to guess it Newmont Mining youre kind of right. How about gilead and nasdaq. Gilead, its not just some covid19 prospects its all about the Balance Sheet despite the fact that the company has been so defensive. Nasdaq debt to equity, point 5 growing 8 eps growth. And certainly some derivative products there its fine you know what, dan, well get yours later this week, we promise. Thank you all for watching cnbcs fast money. Nasdaq up, dow down, jim cramers going to lay out all the market 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 to educate and teach you. Call me at 1800743cnbc or tweet me jimcramer. This market spent last three weeks roaring off its lows after not