Transcripts For CNBC Fast Money 20240713

Julia . Thats right. Disney cfo christine mckarther announced disney will be sustaining the dividend which will preserve 1. 6 billion in cash and this comes as the Company Announces that covid19 cost disney 1. 4 billion to its bottom line in the quarter and that includes a hit to advertising, movie delays and think, most of all, the closure of disneys parks. The disney parks alone had an operating income loss of 1 billion in the quarter due to covid driving a 58 drop in operating income now heres what the new ceo says about the plan that he Just Announced to reopen disney shanghai on may 11th take a listen. The approach we take may include implementation of density control measures as well as health and prevention procedures that comply with state and federal guidelines we are seeing encouraging signs of a gradual return for some semblance of normalcy in china the company talking about how before it began to close its domestic parks in midmarch they had been seeing an increase in both guest attendance and guest spending and how the brand is strong and the people will return to parks and theaters once things open up again and a dramatic impact of covid. Any mention so far on the Conference Call, julia, about Strategic Investments and other costcuts . Well, Strategic Investments in terms of where theyre making their bets right now, melissa. Theyre talking a lot about the focus treatmenting and the better than expected growth on disney plus and the success of their investment for hulu and the odd man out there on espn plus because there hasnt been any live sports for weeks and weeks now although they did point to the Michael Jordan documentary and the success they found there releasing that documentary early, but right now it seems like the bright spot is disney plus which is certainly in investment mode right now julia, thank you. Unfortunate, guy adami that disney plus is the bright spot here and disney is not where it makes money no. And if you listen and hi, mel. If you listen to the great tom rogers who was just on with sarre and wilf, he breaks downed he the headwinds facing disney. I dont think youll see the 79 level that you saw march 20th and the runoff off of the disney numbers were to the upside i do think youll be able to buy this stock cheaper somewhere between 90 and 95 is where you get back in. The stocks down 54 now from the thanksgiving high. Earnings are down 63 year over year so the math sort of lines up and theres just no real, in my opinion, i just dont see the catalyst to buy the stock right now in this current environment. So i think you wait and buy it cheaper and i think youll have that Opportunity One from Moffett Nathanson which we discussed and the other from rich greenfield and one point that rich was bringing up is here in this sort of environment, will disney have to pull back on Strategic Investments and pull back on a Growth Business that granted, is not making money yet, but streaming is the bet of the future, tim and im wondering how you see this Conference Call playing out. Oftentimes it is comments on spending and in this case, maybe cut back on spending that can move the stock. Whats really fascinating is that what was once an advantage over netflix that disney had, some of the strengths in their diversified business are really liabilities relative to netflix. So two companies that probably right now and if not, 20 minutes ago were the exact same market cap that were 183 million and disneys strength in studio and dtc are really hurting them now as we look for the next couple of months and netflix was this big cash burn story and disneys now having to cut the dividend we didnt think about the Balance Sheet in disney ever this was something that was some level of confidence. I like the pro activity on the activity and for investors, that will send the signal that liquidity is something we never thought about here and the ecosystem and however you want to phrase this are advantages. Im a shareholder and i think the market has priced a lot of pain here, if youre in a market multiple, it you think it should have a premium as it has that does make you wonder what sort of liquidity issue they might be being looking at in terms of the shutdown and maybe this is a conservative thing and smart move to do right now. I think it is did you say suspended for the whole year or the first half of the year they only paid dividend twice a year, so i thought that was just for the first half which was 1. 6 billion. Either way, i think it is the right thing for them to do and it is a little scary for shareholders who have always thought of disney as just rock solid and never had to question whether they would have any reduction of their dividend. This is a little bit surprising, but i do think theyre doing the right thing. You raise the money when you can, not when you have to and we didnt ever think of the Balance Sheet until they did the fox deal and it turns out the timing of that was unfortunate when the rest of their businesses and they never could have foreseen all correlating to one or to no revenue, i guess it was happening at the same time i think that it is getting a premium still in the market. We dont know what their earnings are going look like and to me the question is when do they return to whatever the new normal is and what is the new normal for some of their businesses i dont know i mean, i love the name. I just feel like i agree with guy, i think well get a chance later. To clarify they will fore got next semiannual, and that will result in a 1. 6 billion in savings. Grasso, where do you see the stock here theres no way you can talk around the void of over 26 billion in revenue thats absent from the park. To talk about technicals within the stock. First of all, when you look at the dividend that will be greeted with a screaming sell tomorrow when the liquidity comes back in the marketplace. I think youll get a shot, as everyone else said lower how much lower can it go i think we might see 92 and lower than where you see it now. I dont think well see the march 18th low of 79 and i think the stock can break 90 and be in the mid80s. So i would wait and be a buyer of netflix lets bring in the man who mrit rally wrote the book, columnist, James Stewart hi what did you make of the quarter and of bob chapices performance. Jim . I think that we lost jim. Well try to iron that out guy, do you agree with grasso . Mid80s . Listen, i do absolutely think it could have a 90 print so mid80s is not unreasonable especially if you think the Broader Market for whatever reason we hang around this s p 500 level and if you think theres a downturn, mid80s is absolutely in the cards. The last crunched as you should be and its killer that Dennis Rodman was the glue. With that said, im not hurdling myself to any of the openings, and i dont think im alone, and i think thats sort of the point karens making so i think youll have an opportunity lower, in my opinion lower is 90 bucks. I missed last weekends installment because i was doing the gene wilder movie marathon as your recommendation, guy. In terms of reopenings, tim, were getting word that shanghai parks can reopen may 11th and can we see a faster bounceback granted with some masks, social distancing and all those things in place, and maybe we get a better idea of disneys business sooner than we all think 36 of the revenue is their theme parks and Consumer Experiences and u. S. Is clearly the lion share of that, but shanghais very important, and what we are also starting to see is the anecdotal news flow out of china is people are being cautious and rightly so, leaving that aside, its encouraging to hear things getting back to normal its encouraging to know that the other side of this is not just that disney plus is better, but look at media. Look at 28 roughly up in the media and 17 in the cable so these are at least encouraging numbers in the face of what is a very difficult quarter the new normal for disney means most folks and ill listen to the analyst on this and the normalized dps you have to wait until late 21 if not 22 and the market is okay at not pricing it at the current multiple and whats that number that you put on this and i think thats how the market will really, and that will differ between youre a bull or bear. Late calendar year 2021 or 2022 yeah. I think normalized earnings based upon what we kind of know about what we dont know is probably late 21 now lets bring in jim stewart of the new york times. Good to hear you. Im in a rural area and wow, a lot to absorb here they were leading me right to the Balance Sheet and they were really worried and they have 38 billion in debt and now theyre suspending the dividend, and this really is and i know there is a lot of authority inside the company. Given the suspension of the next payment of the semiannual dividend, you would say this is a liquidity issue or will soon be i think it is i dont think see how you can view it in any other context i, ive been a fan of disney and theyve done a lot of grand things, but they are being hidden the shutdowns really only came for the most part in midmarch and most of the quarter they were going right along and you see what a massive impact and it will be much bigger this quarter even under the most capable estimates and the question is do they have the strength to get through this its amazing that were even talking about this given that it had a legendary Balance Sheet, but it did decide to take on all that good will to its Balance Sheet which a lot of people had bowed to that even when it happened and the timing was absolutely horrendous, and i think yes, they are doing what they can good for them theyre raising the debt when they can and theyll have to cut it again the question is is that enough and thats something investors will be nervous about. Tim on the panel was saying we perhaps dont get an idea of what the earnings are until late 2021 or even 2022. What does a disney look like under that scenario. In other words, what sorts of cuts in your view will they be making first what are their priorities . Will it be spending on a streaming service that doesnt yet make money, but is the bet of the future . How should we look at disney i think that will be a big problem for them because theyre going head to head with netflix and amazon and they have massive resources. Theyre spending billions a year on original programming and disney never had to spend as much given their legacy brand and theyll have to spend a lot of money and theyre doing great there and the numbers are impressive, but if they have to pull back on net spending, and i think that they very well might that is going to be very hard for them to compete. That was always going to be a lowmargin business for the foreseeable future because it does require so much investment and original program that will keep up with them. So i think they really cant afford to cut there, but they may have no choice they furloughed employees and reduced the cost as much as they can, but i just dont see where theyll get the cash flow to wrap up the kind of investment they need to do in the disney area jim, thank you so enough for your analysis. Always good to chat with you. Disney shares in the afterhours session plummeting in aftersession lows down 3. 2 . Jim mentioned facing a liquidity crisis and it is unbelievable and stunning to put liquidity cries and disney in the same sentence when just six months ago it was a completely different story. Right before fox and i was looking at while jim was talking disney bonds and the less money going out the door the better, but some disney paper traded down to the mid80s during the worst of march and rallied back all of the way up to close to par. I would be curious where it trades after this Earnings Report it is astounding, though, that we even have, like you were saying, the liquidity crisis at disney they have so much leverage to pull, though they could issue more debt and they could issue equity. I dont think thats happening at all, but there are a lot of things they can do and i know cutting corporate overhead, but still theyve got to spend this is really not the where bob iger thought it would be two months or three months after stepping down which was the top of his game. He may be at the top of his game, just may not be at the top of disneys evolution. We are just Getting Started on fast money. Beyond meat after a beef with a fake meat company that has them licking their chops. A tale of these two stocks and why theyre moving in opposite directions in after hours. Stay with us fast money is back in two. Sometimes the challenges of todays world make it tough to take care of yourself, thats why you can rely on natures bounty. To give you the support you need. To stay motivated keep active and sleep well. Add a little more health to your day. With natures bounty. Swithout even on yoleaving your house. Add a little more health to your day. Just keep your phone and switch to xfinity mobile. You can get it by ordering a free sim card online. Once you activate, youll only have to pay for the data you need saving you up to 400 a year. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Welcome back to fast money. We have an earnings alert on beyond meat. Lets get to aditi roy with the details. Nice to see you. Beyond shares are soaring after firstquarter results showed that the companys selling more product through u. S. Retail partners as many restaurants remain shuddered beyond meat says sales at its u. S. Retail partners like target, walmart and costco were more than double those of u. S. Restaurant, nearly 50 million to more than 22 million thats important to investors who are tracking the pandemics impact on the company as restaurants struggle and supermarket sales soar beyond says it sold more products because of an expansion in distribution partners, new products launched and increased demand at existing Retail Partners the company suspended its guidance in 2020 because of covid19, and ethan brown addressed the pandemic during an earnings call. As various regions around the world implemented stay at home orders, what we did see a simultaneous boost in sales through retail customers, this was not enough to offset the deterioration in demand, nevertheless, we believe the bluepronged approach to both retail and Food Service Outlets and helped to mitigate even more significant covid19 related disruptions to our revenue some other key points, profits spiking 10 million a year ago to nearly 38 million in q1 and Gross Margins rose 27 last year to nearly 39 in q1. Another thing greg tells me that as the company switches its focus from the restaurants to the retail that one challenge will remain managing those margins and packaging for retailers than it is for wholesalers. Back to you, melissa. Aditi roy on beyond meat. Grasso, where do we go here. We know that 50 of sales are in food service and thats very hard hit and will continue to be so as long as the shutdown lasts. Right schools and restaurants are closed to your point. Even after its jumped, the 2 hunday moving average is right below 111 the stock is up 35 year to date you couldnt have painted a better environment or scenario with all of the other meat producers like tyson and sanderson farm struggling with supply issues and constraints for this one to perform and its still below its 2 hunday moving average. I would be a seller of this one and a buyer for those under duress for the meat supply issues tyson did say on the Conference Call, that was yesterday and these days they melt together and the spike in meat prices will be transient, tim. Beyond meat will benefit or has benefited from the spike in prices which will make its product, the allmeat product comparable to real meat and thats only transient then maybe this boost is transient, as well yeah. I mean, i think what is this meat as a service . I dont know what were doing here, but obviously the social trends towards alternative foods, plantbased foods is something that was very early on, and i can get into that. Id be less excited about whats happened in the short run. I do think we talked about this earlier on our call, fertilizer prices are movinghigher. There is more demand some of this could be translated in entire prices and inflation is good for food companies, just be clear i like that story. I just think that the Competitive Landscape should not allow for the multiple that we have here and then obviously, the headwinds on covid19 are food service and international growths which has been a big part of what people are expecting the next leg of this story. Im with steve i should be fading this move and i wasnt bullish on the company before today and these numbers were very impressive based upon those coming i dont know any of you are fans of altmeat the investment. The trend is there. You pay for this trend and the valuation. The trend is definitely the trend is definitely there. I actually have 12 college kids living here now and at least half of them are vegetarian. So its definitely happening i just feel like a lot of that is priced in and one more, impossible burger. I saw them signing up with kroger today so i just think the Competitive Landscape will be difficult going forward. I cant get onboard with the valuation. Karen does not run a boardinghouse or a college or anything like that and the 12 kids are not all hers, although four of them are it sounds like a nightmare, by the way. Thanks for clarifying that. I dont know if you saw the shortage of beef, between 5 and 10 have chickenonly menus. Only chicken at wendys. Wheres the beef literally thats fine with me, by the way, number one. Number two, we had this conversation last night and ill say it again i dont love the product without getting into great detail and i think we all understand why and i love the stock and i still love the stock and respectfully, the evolution of the human race is transient, as well and thats been going on for thousands of years. Transient means whatever you want it to mean and the growth with this company is pretty staggering in terms of revenue and dont discount the fact that theyre starting to get an international footprint, as well so this will be growth on the back end of that coupled with the fact that operating margins were or Gross Margins almost 39 which was significantly better than wall street was looking for. So given the fact that most people do not like the product and the stock ill stay in and it will test the alltime high which was 125 or so and if im wrong ill be quickly corrected on the twitter there is irony, guy, in you calling the existence of the race called. Fast money. Spitting poison, how a new war of words with china could impact your money. Norwegian cruisein les getting rocked as it issues dire warnings about its future. We have that when fast money returns. Take allegrad. A nondrowsy antihistamine plus a powerful decongestant. So you can always say yes to putting your true colors on display. Say yes to allegrad. Thats why working together ist more important than ever. To putting your true colors on display. At t is committed to keeping you connected. So you can keep your patients cared for. Your customers served. Your students inspired. And your employees closer than ever. Our network is resilient. Our people are strong. Our job is to keep your business connected. Its what weve always done. Its what well always do. 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, stocks rallying today as parts of the nation begin to reopen the dow rallied 130 points and the index is now less than 2 for going positive for the year. What do you think of todays action, guy . Its impressive in a word its impressive and i know steve and both tim have been encouraged by the moves and theyve been steadfast i get it on one end and i totally dont get it on the other. So much of the move in many of these chip names has been multiple expansion, really dont have the commensurate eps to back it up and nobody knows where were going to be a week from now let alone six months or so so i think people are fast to say weve come out the other side i just dont see that happening, and ill stick to my guns here with the s p 500 effectively still at this 50 retracement. Steve. Yeah. I agree with guy partially there. I have been bullish on this, but ive been bullish with the certain duration once we get the economy restarted again or attempt to, you will start to see if theres failures or reinfection rates, hospitalizations, deaths and anything like that thats going to send the market right back down. I do believe we have a higher floor, but for now you have to buy the market against the 2800 level which is the 50 retracement that guy and i talk about. Todays rally comes in the face of rising tensions between the u. S. And china President Trump promising what he calls a conclusive report showing that the coronavirus outbreak began in china. Chinas staterun media, though, firing back, evil, spitting poison, filthy behavior, propaganda warfare those are just some of the words chinas media is using to describe the Trump Administration lets bring in pete, and hes a cnbc contributor as well good to have you with us this sort of nationalistic rhetoric coming from state media reminds me, at least of the depths of the u. S. China trade war. Are we in for tensions for that degree, in your view i actually think that it could be much worse than that and what ive been telling people si see the makings of a cold war here and i know thats language that makes people uncomfortable and im intentionally being provocative and the last thing for us to see is to sleep walk into this without a clear understanding of whats happening and without a clear understanding of what the strategy is, and i worry about that obviously, i hope that there can deescalation and it does require both sides to make confessions and for chinas part, i think china does need to come clean and does need to submit to an international investigation. They have nothing to hide, dont threaten retaliation to everyone who wants to investigate this whether its the u. S. , the eu and australia and lets get the facts on the table and hopefully we can come back to a more sober place. During the u. S. China trade war we understood what the u. S. Wanted to extract from china we went into negotiations and will we get an end for the technology transfer. In this case, these are response to chinas alleged role in this. Is the negotiating tactic led us into the lab and then well peel the tariffs back the likely head in my view of china coming come into the Wuhan Virus Lab to investigate seem pretty slim. Right its important to just aggregate two things here. I think you need to look at whats happening directly in relation to the coronavirus and questions about its origins and with respect to broader Economic Issues with china and the way that i see it is this and the u. S. Once is an investigation and the investigation does reveal that china did have surprising information and there was a coverup and they may respond that and independent of it there will be an assessment of the issues with china and given the climate youll see a shorter reach and thats where i think tariffs can come into play which is when you look at the trade deal, by and large china is doing a good job on the structural side of things and there are real problems when it comes to the purchases and i do think that there will be a shorter leash on china and thats where you can see the president decide, okay, maybe ill give them a pass and given all of the other things im not going to do that anymore and thats where i see it coming into play and the white house was clear last night and its not looking at punitive measures directly in relation to the coronavirus. I think the tariff conversation is a separate one and i do think its a live one and one to watch very closely im with you on this one. I think the market is underestimating how this can escalate in your opinion, listen, maybe the Trump Administration is 100 right in their assessment. Are we putting gasoline on the fire when we adjudicate it in such a public way . Again, i dont know that theres a better answer than transparency here, and i think what we know for sure is that information was slow to come out of china and i think we want to see that information and im not sure if china is not willing to do that on it requires an International Effort and i dont know another way to do it. I hear your point and i think that requires a different approach cleat, great to have you. Tim, final word quick. Yeah. I think hes his view is that the trade agenda is not that much different than what it is before and theyre deciding how much political rope they have to be difficult in this environment and its pretty shocking that this administration is continuing to cement their place with the american populous, and i think its risky, but i dont disagree the same things we wanted with china and trade war before are very much alive and well and i think we need to be steadfast. Still ahead, rushing it activision and blizzard operating and the candy crush that sent the stock soaring. And a dire s. O. S. From Norwegian Cruise Line. We have the details when we come right back and wells fargo employees are finding ways to do our part. By helping people stay in their homes, through mortgage Payment Relief efforts. Helping local businesses in their vital role in the american economy. And helping hundreds of local organizations provide food and other critical needs. When you need us, wells fargo is here to help. High protein. Low sugar. Tastes great high protein. Low sugar. So good. High protein. Low sugar. Mmm, birthday cake. Pure protein. The best combination to help you stay fit. Pure protein. This virus is testing all of us. And its testing the people on the front lines of this fight most of all. So abbott is getting new tests into their hands, delivering the critical results they need. And until this fight is over, we. Will. Never. Quit. Because they never quit. Welcome back to fast money. We have the ea arts and we have activision higher. Lets get to josh lipton with the details. Activision ceo was just on cnbc saying all franchises have seen an increase in users and engagement and saying its hard to know, he says, how much of that is from the work from home trend versus that content appealing to gamers. Will there be a delay in new releases because of work from home content planned to be released this year is still on track like the next premium release of call of duty. As for esports it isnt being played in front of live audiences, but they have moved competitions online and he says there is more interest in those coverage tigzs and ea, a different story and the Ceo Andrew Wilson on the call saying they did see rising usage and engagement in Live Services and ingame transactions and Subscription Services and he called them the legends growing strongly and thats the eas answer to fortnite i caught up with Michael Pacter at web bush and he said ea is growing by what they said it would. Investors were simply expecting stronger growth because of that work from home trend and especially what they just heard from act vigdz and they didnt get it from this report. Melissa, back to you we should point out that ea went into this earnings session up 5. 6 on the week. Tim, as the senior video game correspondent having gone to many games and competed yourself, for sure yes, i have what do you make of these quarters they have more of a reliance on the apex franchise with no new battlefield with 2021 into 22. I think the Live Services are an interesting story and Interactive Gaming is part of the media complex and interesting to note. If disneys numbers were better and i want to get back to the last block and people were saying they should be buying Something Like this, whereas activision i think has got a stronger franchise and a stronger pipeline and i think on valuation is a little bit more sense. I think both of these names have come back dramatically and offered relative value to where they were obviously a couple of years ago. 23 to 25 times, i think these are the right name to the own and i wouldnt be running away from either one. Youre stuck at home and cant go out you play videos games and you play with your friends and im sure thats all that youre doing, playing video games with each other. My sons are constantly on these and its always the Battle Royale games and i would go with activision in a head to head between these two, but this is just another reason to buy microsoft, as well those pipes are continuously flooded and its just another its not an overwhelming revenue producer, but all across the board its a winwin for cloud and gaming and what you want to stay away from is take two take two has not performed because they dont have the same games that people are chasing with shelter in place. Quick question, guy versus karen in a video game duel who will win guy . Karen me, too i vote karen, too. I mean listen, what a surprise that is. Thank you. Tim talks about disney buying this, i agree, but the culture of disney doesnt necessarily line up with games called modern warfare and call of duty with that said, it would have med a lot of sense a couple of months ago coming up, a Norwegian Cruise Line with what sent the stock into rough water, but first, a tesla triple play, what a baby, and Beverly Hills has to do with elon musk when we come right back i know that every single time that i suit up, there is a chance that thats the last time. 300 miles an hour, thats where i feel normal. I might be crazy but im not stupid. Having an annuity tells me that im protected. During turbulent times, consider protected Lifetime Income from an annuity as part of your retirement plan. This can help you cover your essential monthly expenses. Learn more at protectedincome. Org. Welcome back to fast money. Shares of tesla driving higher as elon musk has a massive payday phil lebeau joins us with details. Melissa, this is all about the market cap of tesla. If it was averaging at least 100 billion for six months straight it would be really the key to unlocking a huge bonus for elon musk and thats whats happened if you take a look at this stock going back to early november, the average market cap now has been over 100 billion for six months straight. As a result, the bonus for elon musk, excuse me, is a hefty one. He gets 1. 69 million tesla options at a price of 350 you do the math here its north of 700 million is what he would cash in with if he were to buy the stock and immediately turn around and sell it also, this brings up the question, well, whats the next milestone . They would have to average 150 billion market cap which by the way, the stock would have to average 800 million a share and that would hit other benchmarks and revenue of 35 billion and ebidta of 3 billion by the way, there have been people that said this is the most ridiculous pay package in the world, melissa im heard you have heard of these people and invests on are upset about this if youre an investor back when they gave elon musk this pay package with these bonus incentive, your stock value ha been appreciating very nicely, up 145 since that day so you cant say as an investor that you have not done well as elon has done well. And its the ultimate lineup of incentives and you bought the whole kit and caboodle including the ceo pay package. Phil lebeau in chicago steve grasso, when those first benchmarks came out people thought thats crazy and here we are. They hit them. Whats next, do you think . Its bizarre, to your point and when you look at where were trading at, i just glanced over and 772ish is the last sale post and when you look at where they raised money, 767, thats a huge barometer for the stock and thats a success and failure ratio there. So you want to trade this stock and you cant invest in it longer or ever and you want to look at it through the prissp of 775 which is the recent high and 767 is your bullbear line and obviouslimore bullish on moment up, he just listed two of his los angeles mansions for sale by owner on zillow. Theres one house thats 30 million. The other for a bargain price of 9. 5 million zillow tweeting the listings, my team tells me this is legit. Elon musk here to help if you need a hand. Wow could this be a boost for zillow i would love to call elon musk and say i want to take a look at this house karen . Is that for me . Karen. Oh, was that to me . Im sorry. Yeah youve got to think you are deluged by people wanting to see his house. Im sure there are plenty of happy tesla owners, shareholders and owners of the car would buy it sight unseen. For some reason i think hes kind of goofing around i dont know hes been known to do some crazy things just one thing i want to point out about the pay package. I dont think share edders and as we said, you get all of the request tweets and the mania and the whole thing, but its not for me. Too expensive. Hold on, even more elon musk news, elon and canadian musician grimes tweeting baby and mom are good and the tattoo filter on his face, never too young for some ink. As for the babys name, so take a look at the bottom of your screen and that it is ash musk, or i dont know something musk, but thats elon musk for you up next, Norwegian Cruise Line said about the company about the future which sent it overboard and it could hit the skids when they report. Stay with us save hundreds on your wireless bill without even leaving your house. Just keep your phone and switch to xfinity mobile. You can get it by ordering a free sim card online. Once you activate, youll only have to pay for the data you need saving you up to 400 a year. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Welcome back to fast money take another check of disney the company saying it would forego its Dividend Payment reporting 54 million subscribers to disney and up 50 million reported from april 8th. Shares of Norwegian Cruise Lines getting rocked and the company saying there are substantial doubts about its ability to continue operations. It is looking to raise 2 billion to stave off of bankruptcy it is pricing its 2024 bond raising 600 million with a coupon of get this, 12. 25 . They look like they have already raised half of the 2 billion that they need tim seymour, where do you stand on some of these cruise lines . Yes oh, boy i mean, i dont think its time to jump in i think the sinking sector is continuing when they told you in their recent liquidity update is they had a lower liquidity base and i think it was 1. 4 billion and theyre burning 225 million a month in a zero revenue through september environment. It seems like a cautious approach on their outlook, and you know, its this is one of the places where i just because ive never been on a cruise, its harder for me to see this come back faster whereas i expect i will get on a plane. So truly giving you a personal view on this, but the liquidity view that they have articulated is difficult i will go to steve grasso, then theyre able to raise 3 billion and they have 3 billion total they can weather the storm, so to speak, even if they couldnt sail for another year. Could we possibly find some sort of value here, steve yeah. I mean, theres value here and theres three players that you look at that you have norwegian and rile caribbean and carnival and you want to stick with the brand of names with norwegian and royal, but when you look at value you have to wait for more of the smoke to clear and youre in no danger of missing it theyve been piled on so hard. So you actually need when people will jump on a plane when theres therapeutic stuff that comes out for corona if a vaccine comes out months from now they have cult followings that are getting on cruise lines ive been on a cruise line i happen to enjoy it myself and im a germaphobe, but i would not get back on one until i see a vaccine hit. Lets stick with travel and were about to learn more how the coronavirus is impacting the ride share market. Uber and lyft both report this week uber reports tomorrow and mike khouw has the action mike this was an interesting one today and the Options Market is implying a move of 12. 5 which is in line with what the stock moved last time they reported earnings and as the day progressed and we got news that california was going to be suing both uber and lyft and the sentiment was bearish and it was 21 late in the session and the weekly 26 strike puts and they were trading at 1. 15. At the time they were purchased the buyers were expecting the stock to drop 9 by the end of the week and the stock did finish the day weaker and that strike is not as far out of reach as it was when they first traded thank for that, mike mike khouw for more options action tune into the full show at 5 30 eastern time on friday what these images out of south korea could say about the future of americas favorite past time. Of americas favorite past time. Stay with us. Welcome back to fast money, baseball is back and half way around the world. It is opening day for the Korea Baseball Organization and things are looking a little different around the ballpark. Players must have their temperature checked twice before the first pitch and no fans allowed, but masked pictures of them stretched across the empty bleachers. That got us thinking, is this going to be mlbs path forward if so, one bleacher creature, thats ready to go you guys see that . Thats a guy cutout circa 2006 i want to say, guy i cant see its a wooden fullsize cutout of me that spends its days in the editing room, believe it or not that exists so, yes, and i appreciate you bringing it out for the public to see i think in the future i might have it sit next to me at this desk just to simulate the real fast money. With a mask on. Why not sign of the times, right . Time for the final trade. Go around the horn tim seymour. Korea has given us great ballplayers. Looking forward to that. Electronic arts and it rallied significantly going into that. I like the numbers and the i like the franchise and i love the sector steve grasso . Steve iseman came out about a week ago and said he was short trex i said buy it. Its up 25 since then lockin profits. Dont be greedy. Nice move there karen . Yeah. With this huge nasdaq run i feel like ive got to hedge some of my exposure there. Ill it will some nasdaq qqq calls tomorrow. Guy guy . Pfizer drug 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 is not just to entertain you, but to educate, teach put this into contact. Call me 1800743cnbc tweet me jimcramer. Is t