Far as a twitter war. We got those details. Weigh start off with a news alert, new details on what the smart money is buying. Hey, melissa, it seems like the smart money may have piled into snap during the quarter. This is based on the latest 13 sfilings. Third point added 2. 25 million shares while david pepper at appaloosa added 100,000 shares. Heres what he had to say about snap a few days after the ipo. Im not jumping through the hoops to buy the 2180. Should it go down closer to the original offer price, i would love to buy the stock there. Im a believer in the company. Its a valuation question to me. Wherein, to me, im in the nowhere land of valuation right here. We reached out to tepper and to see if they both own shares of snap and wolf completely dissolved his 1. 85 million shares he owned in apple during the quarter but added other tech names, co 4 quall koym and sales force and hewlett packard. Last quarter with the election of donald trump as president , those were more of a mixed bag this quarter. The Quarter Ended march 31st. They decreased the stake in banc of america and j. C. Morgan, tepper added 8. 8 million shares of banc of america and paired back of his stakes in many of the pharmaceuticals. Leslie, im curious, when it comes to teppers slayers in snap, could this be a reflection of the ipo . Certainly, these holdings are reflective of anything they held at the end of the quarter march 31st. Its absolutely an allocation in the ipo, which as you know, a lot of Hedge Fund Managers tend to flip on hot ipos like snap that went way up on the first day of trading. Leslie, thank you. Is this a second life for shares of snap . Or should we say, oh, you know what, this is the shares, the allocation of things you bought the from the start . Certainly, its a scale reading of where these guys were. There is no question, they could have traded snap aggressively. I think a lot of people can be aggressive, not in the name or traded out of it. Not necessarily feel, put it this way, they could be positive on the stock but not need to own it here. I think people look at snap and these last numbers, shrinking daily the revenue miss. It feels like it could be a facebook story, give them a krans to get their crash in, except for the fact that im not sure it is. I do think theyre getting the benefit of the doubt looking at how the big boys have played out their life. Look at twitter. Twitter doesnt have that multiple buckets, if you will, to gain usable growth from additional users, facebook has instagram, whats app. No, they added on, that itself trick. So the key to the story here is, is snapchat figuring out a way to bolt on obusiness that can help them maintain their young user base and grow it. They been grow it in the last stories. Facebook stories is eating their launch. You have to think about it. They need to invest, buy a company or figure out a way do you make of todays sex for snap . If you look at it, we talked about it the other night, 17, the lead underwriters will protect the name t. Names are never that easy. It will trade down to 17, you will get a chance to buyt off that level. You have to either step up and buy ahead of that, thats what we saw investors do, and trading over there are 19 right now. Its a riskreward trade, when you compare it to an apple, no comparison other than performance, apple is up 34 . This is down 21 . Its a riskreward bet here. If you are buying aping long apple, maybe you trim some and try to take a risk on won of these haidah that plays around the ipo price, somewhere around there, maybe you get some juice. If these guys are going to hold on, tepper on march 8th, at that point the valuation was in no mans land. And we just had that quarter. That completely throws the value aition argument out, i would think. I dont necessarily think they will hold onto it. They may not own it as of now. I mean, i dont want to make a complete statement and have these guys invest in stock. They do it in a lot of different ways and smart ways. This is a stock that a lot of people rented and did in the know. At 17, its interesting. What does that mean . We dont know what it was. You are going into it. I totally agree. When you have sell side all lined up and price it there. They have to defend their policy of prices. No, they dont. There is nothing. To the issueer, wasnt it, steve . Right now 17 if they let the stock cut through there like a ginseng knife. I havent we heard that in a whi while. This deal has seven issue price. Theyre not going to stand there and catch any shares that come in for sales, that price i think the stock continues to go lower. They did their job. You see the way the stock traded. They reported their first quarter. Out of the way. This does remind my of facebook. If you remember the facebook ipo, we traded down for months, for quarters after that. Five quarters. Right. Everybody had thrown it zucker what hes doing. You wait a couple quarters. You wait for it to bottom out. You will have plenty of time. If the snap story is the only way to play augmented reality will you have plenty of time. Quickly, snaps inability to get scale to facebook has, this week was all about scale with apple, scale with facebook. These guys are so the far ahead. I dont think they get fleer the valuation. J. C. Pennys, macys, nordstroms, get crushed on the disappointed earnings this week. Check out the wreckage . J. C. Pennys is down 43 . Kohls down. J. C. Penny in the early 2000s. Now the chair former ceo is speaking out saying the retail picture may not be as bad as wall street thinks alan ran Neiman Marcus and barneys, he joins us now. Allen, its a pleasure to have you with us. Hi, how are you all today . Great. We are par veling at the retail space this week. What can you tell us to believe its not as bad as it seems, allen. Well, its all in, we go through these cycles. Obviously, this has been a challenging period. Its the internet, the understanding of the millennial customer. Its the off price stores. Theres a lot of Different Things going on here. I think the challenge at least from my vantage point. When you have a difficult period of time like this. Its when people come up with the best ideas. I think the Department Stores, everybody says, are gone. I think some may be gone. I think the challenges for those i think are still strong and there are some Strong Stores out there. The nordstroms and the macys that need to rethink who their customers, retailing is always about connecting to the customer. Thats checking through your asortments, your presentations, your service, your value, you know, so these are all things that we have to always work on. Can you add, though, maybe thats an Old Fashioned notion of retail. These days the most successful retailers out there, amazon, theyre checking to their customer in an entirely different and transactional way. The expectation of the Retail Experience has completely transformed . Its different. Mellissa, stop and think of the fact that there were no Retail Stores around. Why would anybody go to amazon . They would have no idea what a product is. You get your ideas from the stores. The stores havent done a great job i think over the last years, all they have been talking about is sale. You have to talk about the excitement of the product, introducing mu ideas, new products. In order stroms has done a much better job. Their sales are down, theyre trying to get differentiateing product. Brian kelly. Im curious about i look around and see Amazon Opening stores, book stores, what does jeff bezos see now that everybody else doesnt see . Jeff bezos thinks its important to have a store. You look at barnabos, parker, they started awe out on the internet. Theyre opening stores, they know to connect with the customer, they have to have a physical presence. That doesnt mean you shouldnt have internet. But you got to have both to be a major player. Remember this, how many internet players are making any profit . When i started in the business, part of the game was to make a profit. They dont make profit. Theyre making money on the value of the stock. But ultimately you have to bank some bottom line or you cant pay the bills. Allen, we did ask you in our preinterview where the stocks would be a year from now, j. C. Pennys, macys nordstroms, you said across the board these stocks would get higher. How does it get higher from here at this point . What does that process entail . I think i crossed on what i didnt say, its a sure thing that nordstroms stock will be higher. I think the macys stock will be higher, maybe for penny, because what i think theyre being under valued at this point in time and i do think this challenge will be one for them that they will come up and address many of the issues. I think the macys people are already starting to do some things. I think nordstroms is doing some things. It doesnt always happen the minute they say. Again, they havent always been the right price, people shop on amazon and compete with a better price. So i think thats what. They have to differentiate the services that are not available through amazon. They have to have more developed, well designed private labels. Theres many things i think they can do. I think that they have focused almost exclusively is on how to give people a seam. Sale is not the reason you develop longterm customers. Thats been their over focus. They have too many stores, thats for sure. They are doing something for that as well. Always great to see you, thank you for your time. Former j. C. Penny ceo. The mofrls across the board, those stocks are trading like shale plays. It looks like they all go out of business. When we look back on best buy. We to the they were going out of business. They have turned themselves around. It was aided with circumstance city closing. For me, weve seen sears in that trend of closing for how long now . So to have them all close, it could take some time. If you see a j. C. Penny, if seriess close, that saves in my opinion a j. C. Penny. I do believe most of these are highary year from now. I think people are missing the core point, the u. S. Is oversupply, you have square foot space in Department Stores than in europe. Six times you have in japan. Lose half of these stores, threequarters of these stores, these guys will be in much better shape. When you talk about macys, they will not be hiring a year from now. They got the real estate totally incorrect. Its much less than the street is anticipating. That stock is a sell. Coming up, two silicon heavy weights battling out on twitter. Get this twitter and President Trump. Well explain what thats all ability. Plus, oil is surging this week, sit a head fake . Chart master explains why he is so bearish. If you are spending money on snap and tweet . Dont worry, you have a way to get your money back for free. Thats later. Much more fast money still ahead. Unlimited data with taxes and fees included. Thatll save you hundreds. Get two lines for a hundred dollars. Thats right. Two lines of unlimited data. A hundred bucks. All in. And right now, were giving you even more. For a limited time, get a free Samsung Galaxy s8 when you buy one. Thats two galaxy s8s for the price one plus, two lines of unlimited data for a hundred bucks. Taxes and fees included. Only at tmobile. A 10speed directshift 5. 0transmission. Ine. A meticulously crafted interior. All of these are feats of engineering. Combining them with nearperfect weight distribution. Is a feat of amazing. Experience the firstever 471horsepower lexus lc 500 or the multistage hybrid lc 500h. Experience amazing. I need the phone thats where i happen to be. To be the one that rings. I need not to be missed phone calls. To not be missed. I need seamless handoff. Canyon software. From reception, to landline, to mobile. I need one number. Not two. Im always moving forward. Because i cant afford to get stuck in the past. Comcast business. Built for business. Welcome back to fast money. That might be an under statement. Hi, eamon. Reporter that right, a wild week, indeed, there was a bombshell tweet from the president of the united states. Heres the tweet this morning that shook all of official washington. The president referring to the fired former fbi director james comey, saying james comey better hope there are no tapes of our conversation before he leaks to the president and puts it to the fbi director and an echo of a white house taping system. The press jumped on that wondering if there is a secret taping at the white house. Heres how sean spicer, the White House Press secretary handled those questions today. Did President Trump record his conversations with former fbi director comey . I assume you are referring to the tweet. I talked to the president. He has nothing further to add on that. Why did he say that . What should we interpret on that . As i mentioned, the president has nothing further to add on that. Are there recording devices in the oval office. As i said for the third time, there is nothing to add on that. So the white house wont say whether or not there is a secret recording system here inside the white house. They are also pressed on the idea of holding these White House Press briefings at all after a week the white house struggled to get the stories out about why the president fired the director and when he made the decision to do that. Two more tweets getting attention today, one saying an active president with lots of things happening, its not possible for my surrogates to stand at the podium with perfect accuracy, he also said maybe the best thing would be to hand out written responses for the sake of accuracy. So mellissa, as we go into the week, we will wait to see if the venerab Venerable Institution of the white house continues. We will start off with that notion of eliminating the press briefings, after President Trump tweeted that, Ceo Anthony Noto replied, may i suggest questions and submitted and answered via twitter. A perfect record and we distribute to the world not just those with tv. Chris sacca tweets enabling lying de spots in their relentless attempts to subvert democracy are not your best look. Dont case maus to the dark side. The president loves twitter, could this be the new white house platform . What could that mean for the company and for the stock . Grasso . The stock is up 14 yeartodate. Im still a 408der of it. Ness a lot less than what i used to hold in the stock. I dont know. This is good for the daytoday popping and drops of the stock. But this is not going to save it and i dont know if anything other than a buyout of twitter does ultimately save it. The buyout, if you remember, we were discussing that, it was a mid20s stock. So you are playing there stock for 7 points to the upside. He sounds very pessimistic, if he will hold twitter for so long. Im disgruntled. I actually think they are starting to turn things around. What youve seen recently with their tv deals that they did last week starts to show me that they understand and anthonys tweet as well understand that they are the largest newsroom in the world. They distribute globally across multiple platforms and theyre starting to get the idea that you dont have to be on the platform. You dont necessarily have to sign up and use twitter to get the information thats on there. That to me is probably the most valuable thing theyve done in a long time. Ite waiting for a pullback to buy it. How do you sell ads if you are not on the particularly, not signed up. Because when you are watching it on the tv or the nfl contract they had versus twitter. The nfl contract was local advertising clips. It was nothing. I think the same thing with this tv structure. Coming up, nelson peltz bought one component. We will tell you the name after the break. In the meantime, heres what else is coming up on fast. Snap thats how snapchat investors feel. If you lost money, well show you how you can get it back for free. Plus i am on amazon. Thats because you are a billionaire and can afford to. But if you have slightly less money, well tell you how you can still trade amazon and make money when fast money returns. Its what busch is known for. What are you known for . Im indecisive. Scratch that. No, thats right. Although. [sfx buschhhhh] welcome to holiday inn whether for big meetings or little getaways, there are always smiles ahead at holiday inn. Welcome back to fast money. We have been digging through 13 s filings at hedge funds that asked to disclose once a quarter and nelson peltz of trian puping his stakes in Procter Gamble. He hadded shares ending march 31st to hold 232 million total this amounts to a little over 3. 3 billion cnbc learned he amassed a stake worth several billion. We didnt know exactly how many shares he intended to hold until today. He also increased his stake in General Electric added just over 1 mon 1. 5 million to 69 total. Thank you very much. Presumably nelson peltz wants to enact some sort of change to both or either of these companies. Welling Procter Gamble are trying to di vest noncore assets and its hard to know which is which. I will see they probably benefit from online sales of Consumer Staples and what not. So i think Procter Gamble at least in the enher rent value of those brand and franchises, sum of the part, i like that call. Im long ge. It hasnt been my best trade. I have it a long time. I have to say i like to hear this news. That being said on monday, if it doesnt hold 28 on this news, bk will probably not be a holder anymore. I like Procter Gamble over ge. No question. Ge has struggles, we saw today. You look at boeing doing well, ge is struggling. I wouldnt touch ge here. Its obvious, he is averaging down, he is going for, david, yes, he wants to affect change on both. I would say proctor is the better what i to go. Lets switch gears. It is as you know, i hope you know, it is mothers day, not sunday, in honor of the wonderful women in your lives, the traders are offering you the best stocks for your mama. Mama doesnt deserve drive ships. Mama deserves something safe and j. P. Morgan i think is raising rates, this is a company the valuation makes sense. The franchise to me is as good as it gets for moms that deserve the best. Well, for me, mom deserves a Little Something special on mothers day, thats tesla. Cfla. I think she should own that one. Very sporty. There is more to it as with el. I look for comfort. Right. So like adidas in my opinion, when you go to retail, you have to buy the brand. I think adidas will stay long here. What do you get, mama and papa . Ali baba. Its the best way, ive said it. Its the best way to buy amazon, you missed amazon . You buy baba. I bought it recently at 111. Its trading up 120. Yes. That does it for us here on fast money. Thanks so much for watching. Well see you back here on monday. We have a rare and exclusive ei explain what that is. Thats monday 5 00 p. M. Eastern time here on fast options action starts right after the break. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Its what busch is known for. What are you known for . Oversharing. In fact, i have this thing. Nope. Nope. [sfx buschhhhh] i did active duty 11 years. My in july of 98. And two in the reserves. Our 18 year old was in an accident. When i call usaa it was that voice asking me, is your daughter ok . Thats where i felt relief. It actually helped to know that somebody else cared and wanted make sure that i was okay. That was really great. Were the rivera family, and we will be with usaa for life. Usaa. We know what it means to serve. Call today to talk about your insurance needs. Welcome to options action. Dan and i are back from a crazy neat in vegas. We are getting ready for another crazy night at the nasdaq marketplace. Heres whats coming up. Snap out of it. Thats what investors at snapchat hope shares can do. If you lost money, we will show you how you can get it back for free. Plus mom, dad, its evil dont touch it. Thats what the chart master is saying about what else rallied this week. Hell tell you wha