Look at Consumer Technology space, youre talking b about amazon, which is over 2 waiting in the s p 500. The next closest company to them is less than 1 , so, a money manager, you have to own amazon. The same thing for google, which is close to 3 , only apple dwarf that, close to 4 . So these are must owns for Money Managers. As far as for the retail investor, okay, theres nothing about these quarterly reports that would encourage you to excel, except if you said its rich on evaluation basis. Weiss . Theres nothing you have to own, but i agree with joe in terms of how Money Managers look at this. When you look at amazon, you take a look at it, i said, wow, 40 bucks, thats an unbelievable move. But you know what, you look at capital as return on your capital. Percentage returns. So, im looking at that up 4 last night, im look iing at Western Digital up 10 . It is which is a lot more than, even though it was only up 8, so the only thing thats got to be owned is a bid for jim while hes watching all this stuff and druling as intel and qualcomm are getting squashed. Hes the value guy watching old tech. Listen. Were going to are you going to let him talk to you like that . How about alphabet. Hey, steve, youre right. I am not going to throw in towel as a Value Investor and a buy amazon. And any Value Investor out there whos owning amazon is fooling themselves its a value stock. Google, alphabet or apple chrks reports next week, are priced like value stocks. You can be a value owner and yes, mel, you have to own this stock as a Value Investor, cant not be in this. Its gone up 4 today. Its been a leader this year, over the last three years and its easily a value stock. The price action is pretty good when you take a look at the chart on amazon, amazon is really starting to fade. Pete, i want to bring you in. Because finally got a couple of downgrades on amazon. We had one a couple of days ago. We got one today from pacific crest. Mainly on valuation here. Should we start questioning the slowing, youre laughing. I know. When did it matter . But, yeah. Until it does and if you look at aws, youve got to be impressed with what they were able to put up once again, but youre right, mel. Its interesting when people start to look towards on valuation, its time to pull back. That was time hundred us and hundreds of points ago, so i disagree with that premise. I heard mark on earlier, i think he might have raised his price target because he talks about them being the leader in cloud and they are truly the leader in cloud. If you believe in that story line and you know that they already dominate in e commerce, you want to probably stay long amazon. Ive missed that trade, i can fully admit. I am one of those whos said at some point in time, id love to own amazon and just never had the point in time. What i have owned is microsoft. Arent you worried about microsoft . In terms of absolute dollar amount, in terms of growth rate, were seeing them moderate. Azure is up 94 . Are you worried about that . Am i worried about that if im amazon . Probably not that worried. I think eventually, microsoft which has been this transition, stock hit 69 today. I love that stock. That one, i did not miss. Ive own ed this since nadela ws named ceo. I love this company. I think theyve done everything right. Theyve been in transition. Cloud is where its out and hes focused on that. You mentioned azure. I think 16 is commercial cloud of the revenues for microsoft, thats what people should focus on, what they did focus on, why the stock bounced off the lows last night to 69 today. The senate has passed a one week spending bill by unanimous consent, so the government stays open. That just crossing here. So, there is no Government Shutdown at least for now. Senate passing the bill by unanimous consent. Back to technology here. I think petes right. I dont think the valuation here really matters in categorizing okay, value growth. Its about the tupt to make money and the fundamentals are so you had the fresh money to work at this moment, which would you choose . I went cyclicly oriented after the President Trump was u elected in november. Went for financials, health care and technology. I did technology through adobe, Texas Instruments and facebook. I pulled out of those names. I am waiting for a pullback in apple. In amazon and i may not get it. This might be forral b alphabet amazon. At some point, if i was going to do it, i think you could buy calling in both nyom names in you believe this upside. But overall, theres no reason to sell them right now. More on todays big tech earnings. Lets bring in paul meeks, whos joining us live from seattle. Great to have you with us. Always a pleasure. We are having a very heated discussion about amazon and whether valuation matters. It matters if its hitting on all slecylinders. Do you think growth seems to be moderating and competition is is really heating up with a lot of recent price cuts. I think Amazon Web Services will be number one by a large margin. I think microsoft azure and with diane green pushing the case for google cloud, theyre going to have a nice run with their cloud related businesses. One thing you have to realize though, particularly when it comes to amazon visa vi microsoft, they report cloud figur figures, but arent apples to apples comparison. I wish microsoft would be more transparent with their cloud results, but theyre all doing well. The delta between amazon and number one and the other two will remain large. I think that the difficulty with amazon, even around the block a few times, paul, even in terms of viewing past must owns sort of Momentum Technology stocks and amazon right now, seems to have the wind at its back. At what point does valuation kick in . At what point do you get worry ed theres a crack in the story . When you rook at this story, what would concern you the most . You have a north american e tailing business chiefly and international e tailing business chiefly then aws. The International Business is still losing money they talked extensively on the Conference Call yesterday b about investments in india, which they expect to pay off. Thats a great market because its population is multifold, the united states. I need to siee at some point, a turn around in profitability in the International Segment and i need to see the momentum continue in aws. Paul, its jim. We dont know each other, so im really asking this as a point of inquiry. What matters to you, if anything, in valuation . Do you look at earnings multiples, price earnings to ratios . What goes on in your mind when looking at these companiecompan . Its a great question. Ive been around the block. Had a couple of assassination attempts on me after the popped. I typically look at valuation variables at a peg growth rate and the companys growth and positioning relative to its tam. Total available market. I think all those stocks were talking about today all have tupts, but i know nobody wants to have or hear something thats not actionable. I think these stocks are holds. At some point, to answer your question, as we rise and amazon becomes a four figure stock, if you have it overweighted in your portfolio, i think you need to trim it back. I try to buy Leadership Companies in the last couple of years, ive been focusing on the cloud, but i buy them on dips and theyre run by human beings that we know from following tech stocks for a long time, that these companies at some point for one reason or another, will come back to you. Thats when i try to snap them up. I am a value oriented tech investor. Paul, joseph. I add up apple, facebook, microsoft. Do you believe the movement with etfs and more importantly, passive investing is whats driving the appreciation in these four names is th . I think thats a good chunk, but apple has a different driver. With other, i really believe and its fair to believe that people are beholden to the cloud concept and how its going to be such a good driver. Paul, were going leave it there. Thanks for joining us. Paul meeks. Thank you. Facebooks hitting all time high ahead of earnings next week. Joe was just talking about using an option strategy to get in. Pete, youve been making big moves yourself. I have. I was in the facebook calls not that lopg ago. Sold out of them yesterday morpg. I had remorse and when i saw the numbers today, i decided i wanted to be back in facebook once again because i want to be b a part of earnings next week. Ipg zuckerberg will deliver. When you look at the political landscape, at whats going on in social media, it seems their ad space, they own it as we know b, so because of that, that, the growth in instagram, what were seeing some of the numbers being reported, theyve done a great job with acquisitions and a great job of monotizing. Because of that, i think their numbers are going to be high. So, after you u sold, then bought more, what caused that to happen. What numbers were you looking at . Whats thinking that you want to keep ride iing this thing . Yeah, well, heres what happened. The opportunity that i had. I had a target. Hit that, took it off. Thats discipline we try to have. But then i was staring at this and when i look at the numbers coming out from other Tech Companies and look at whats going on in terms of earnings weve seen in the season, i think these numbers are going tok extraordinary for facebook and because of that, i said you know what, im going to go back in, go higher, by time and get an option that will be able to have a good reaction when the earnings are reported on may 3rd. Facebooks kind of interesting. Been left behind. Been sitting there in 140s when Everything Else gapped up. In terms of apple though, thats next week as well. What are you doing there . I own it. I like it. I know you love it. Youre hope iing to see i guess off the highs. Apple is an easy stock to own right now. Should be up there. Were talking here. What are you looking forward services, pete . Thats what you love about the company. The reality is, i tell you what, i look at this company, the acceleration were talking about in different areas, but particularly the service area for apple, thats something weve been talking about the last year and a half or more. You look for growth. When you saw the growth in the cloud, thats why you want to own microsoft. I think the services is where you have to look right now. Thats getting to be b a bigger and bigger piece of the apple earnings. I think that will accelerate and continue as well. Are you going giddy up on more calls going into the quarter. Still in the stock. Been in the stock for a dozen years or whatever, but i continue to add options when it comes closer and closer to events. I think this is one of those events. Ill probably be in calls. Im not in any calls in apple. Got to move on on the technicals. Ari wald, welcome. Great numbers. Thank you. Pretty good stock moves today. What do you see in the chart sns. Ill approach it as a momentum investor here. Really three rules to abide by. One, let your winners run, three, buy on pullbacks. Do not trim these positions because theyve run. These are winners for us. Stocks we like. Really to make the case, why we think this can be an area that continues to outperform versus the market through the course of 2017, you want to look at the performan versus the s p 500. The cues are breaking out of a year long range. Were at this difficult point where near term overbought, but that big breakout indicates to us that this is an index thats going to continue to make higher lows followed by higher highs, but this is still an area thats going to outperform. Given the bros based name, the its mid cap, small cap, really across the technology capitalization. Now, lets dig into these two charts that have had nice runs today. First is amazon. Were going to chart it the same way versus the market. Versus the market. This is a fresh breakout move today that we are moving above resistance from october of last year. Looks similar to us to how it looked last spring. Made a new relative high. Consolidated sideways for a couple of weeks, but that was all in the direction of the longer term trend and that outperformance continues. We think that continues again. We think amazon remains a leadership area. No signs of popping out how we see it. Google is the more excuse me, alphabet is the more compelling set up. I think this is more meaningful. If you look at the performance of alphabet versus the market. It didnt run up as much as amazon and facebook and some of these other names where youre just coming out of 15month relative range. So, we think this is marking the start of a new round of outperformance in the direction of that longer term trend. Alphab alphabet, real why call right here. We like it. Thank you so much. Pete just quickly. Fresh money today. Alphabet or amazon. Id have to go with alphabet because i thought it was, what i read was nothing but impressive. I think in amazon, the one thing you stare at is hey, if the web services is slowing down and thats where weve been staring for the last couple of quarters, i think thats a reason enough to start looking more towards google. Heres whats coming up on the Halftime Report. A big call on coffee. One firm says theres no foam here. Buy starbucks. But theres another side to this story. Thats next. Plus, tomorrow marks 100 days of the trump administration. Since the start of his presidency, the nasdaq up 16 . 14 for the for the dow, 11 for the s p. If theres no movement on his agenda, what can we expect for the second 100 days . Answers when the Halftime Report comes right back. Two minutes away. Welcome back. Starbucks shares cooling off at this hour following disappointing quarterly results, but one firm is is sticking with the giant expecting the business to heat back up. Bmo raising its target to 67 a share. It is our call of the day. And pete, i want to go out to you because i know youve been bullish on starbucks, but come on, man, this quarter must have been disappointing for you. Whether you look at u. S. Store sales or the trouble that theyre still having in terms of mobile. Ordering. The list goes on and own. Theyre blaming lot of stuff in that quarter. Theyre blaming mobile ordering because its so successful that its causing back ups a t the stores and people are complaining. It slows down foot traffic and thats the big problem, so theyre big problem is theyve got to solve this mobile issue thats actually a very big success for them right now. Along with the rewards program. Theyve got a lot of things going on that are going on right. When you hook at the expansion theyre going through, i mean, by 2021, the number of stores is going to be 12,000, theyre going the add 3400 here in the united states. I think their problem is now, jim cramer keeps talking i object, its a mosh pit. And the nightmare is theres too many people in there. I walk back out and i dont back to starbucks for months. For months. And thats the b problem. I get if wha youre saying. Demapd is not a bad problem to have. But its not showing up in the numbers here, guys. There was something slightly trumpesque in your explanation. You know i love you. Demand is so huge. They cant meet it. It is. Im not buying that. Look, theres clearly, theres only so much that they can grow. Theres a store on every corner. I actually think its a fine company. Thats not what im saying. You dont think the new food offerings are adding points to growth here. Starbucks has been doing that as long as as stevie has been alive. Thats a long time. That was a poor alec baldwin impersonation. I dont buy the its so good its bad excuse. Didnt i just say that . Its gotten spot ty for a while now and when i go to starbucks, i dont it to be run now in the same matter years ago. Theyre a little dirtier, the food offerings have changeded and others have done better job. More to the place. Newer, gregorys here in the city or some others. Its okay. Not a disaster. Defend them. Why is the stock a dollar off the lows even though the market itself is starting to meltdown . Why is the stock still approaching 60 a share today . Why arent they just, if you fwis are right f you and jim are right, and im wrong and the bu busyness is imaginary in my mind, why is it right now youre seeing the stock react the way its acting . Its trading at a high multiple. 30. It should be sold. Unless youre growing. I think theyre still growing. Same store sales, yes, they mised the estimates, but when you walk in, if its a mosh pit, melissa lee is going to walk out and not go back for a month. Other people are going to continue to go. But according to your analysis on apple, people should be recognizing the Services Component and that stock should be at 30 times earnings, not at 12. Last quick word. For petes point, why is the stock trading slightly below. Its a cult stock. Let me finish. 4 maybe near the all time highs. I think if they get the int international right, which if they get the international right, then its a 65, 70 stock easily. Until china one last point, when you walk out of the store, you know what youre going in the price action reflects it . Duncan. Next up, why this could be the year you definitely dont want to abide by the saying, sell in may and go away and what tech stock is up . Betting the run is just getting started. Pete is tracking the unusual activity right here after this short break. Whoa thats amazing. Hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. Type in your idea. Select from designs tailored just for you and publish your site with just a few clickseven from your. Mobile phone. The internet is waiting start for free today at godaddy. Its not just a car, its your daily treat. Go ahead, spoil yourself. The es and es hybrid. Experience amazing. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Thithis is the new new york. E . Think again. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov if the data says sell in may then go away doesnt work, what should you do . Joe . The question becomes what do you want to sell. Equity, fixed income, everything so far year to date is performing well. Munis. Im not sure thats a strategy. If im selling something, selling passing investing because i think thats where the next bubble is going to be bursting. Like etfs . I believe over the next couple of months youre going to be to have more ak thetive. Sfl so Stock Selection as opposed to buying indices. I think volatility will be elevated and i think in energy specifically, theres going b to be some form of a dislocation. Whether it be higher or lower. We have iran still on the table. We have the opec decision. Whats going to happen there. I think energy is going to have some form of dislocation. Melissa, listen. Im at heart a longterm investor. Not going to punt on the question, but a longterm investor is not going to buy or sell based on an aphorism. Sell in may, go away, as steve with the many mays hes seen will attest, used to refer to you sell in may and come back after labor day. Rekre recent ly, its become sell in may and maybe buy back in june. Either way, heres whats going to matter. Whether trump getting something on his agenda. Whether he gets something done over the summer. Completed. Not executive actions. Things that require congressional approval. Tax reform. Infrastructure. Any of these thipgs. Health care reform. If that were to happen, this market regardless of may or september or not, would take enthusiasm and move higher. Lets talk about 100 days in office and the 100 days ahead. It dus mark oes mark 100 days i on saturday. Washington been a wild card for the first 100 and probably will be for the second 100. Larry kudlow is here and i guess for the market, were at a point at 100 days where were close or at record highs on the indices so the next 100 days could be extremely key as to whether or not we get anything to help support that move. I think you will. I was down there last couple of days and look, he put a great progrowth, proprofits, prostock marker on tax reform. On wednesday. I mean, basically went back to our campaign plan. I was very pleased to see that. Once in a while, i get one. I think its great. I think its going to take a while. I dont think youre going to get quick legislative action. I think its going to take most of the year. I think it would be retroactive when it passes, but youre going to get deep cuts and Corporate Tax rates, youre going to get repatriation. I regard that as very bullish for stocks and the economy. I mean, i just think so. I think you saw the market react positively when he came out and my second point is president is pulling back as you can see on the worst aspects of protectionism. For example, pulling back on nafta. Was a very key thing. Not sure it gets enough credit. The market has been worried about trade protection israism must. He pulled back. Hes got to negotiate as he will with china and thats correct. Hes going to do selective things. No blanket tariffs. How about the aspect of deregulation . That can be done enwhen i know it comes to financials and doesnt need congressional approval, so do you think that could be on his board over the next 100 days . Zbh high on the list. Giving orders out to the executive agencies. Including health care, by the way, including energy. Labor relations. Yes, hes all over it. In a sense, i would say this. The war against business is over. That is one of his key messages. The war against business is over. And i think thats why you see these confidence numbers popping up. So, whats the priority now . Because you can flame you know, anybody in congress at this point depending on what your priorities are. Or taxes. Thats what ipg. In your heart, its taxes, too. Not a new thought. It is not. Is that what he does . Yes, i think that he needs to get out there on the stump. Campaign trail rallies. And sell the tax cuts. Very important. And this is probusiness. Also prowage earners. Very populous message. On tax cuts. He needs to sell that. I think the health care thing stays alive. On capitol hill, but i dont think we can debate whether he made a mistake on going after health care first, probably he did. But when you look at the potential for tax reform, look at technology companies. Health care companies. Huge amounts of capitals overseas. And there seems to be consensus on both sides of the aisle. Could we get that quicker . No, its going to be a package, but it is in there. The thing is, when he had his announcement on wednesday. With a lot of press before and after he put a marker down. Were going to do this. Check off the boxes. Theres no question. Repatriation. What does it look like . Do i just buy back my stock . Have to invest in r and d . I dont think theyre going to have strictures on that. I think the tall rate is going to be 10 . One time. Deemed repatriation and that money will be used for buy backs, dividends, new veinvest t investmen investments. Some may wind up in infrastructure. Its a one time thing though. That money was used for buy backs and dividends. A smaller version of that in the mid 2000s. I dont have a problem with that. Look, companies are putting cash into investors hands. Youre saying its onetime amnesty. Not an ongoing . Thats correct. One time bring it back now. Also talk that would be theyre going to shift from worldwide taxation to territorial. So you will be taxed where the profit is made. If youre taxed in europe or asia, you will not be taxed a second time in the united states. Thats huge reform. But its not an amnesty, thats an ongoing change in tax code. Yes, you get the one time tall. Bring the money back at 10 and its deemed. You have to do that. But after that, its not a problem anymore. Again, just one last thing. Theres nothing wrong with share buybacks or dividends. Investors may take some of this money and use it to start a new business. Its loose money. More cash value. Its great. Corporations arent always the best judge of investment, its like the government. Id like the money to be in taxpayers hands. Its better here than there. Thank you. Simple. Larry, im worried about the border adjustment tax because that creates clear winners and losers in the stock market. As a par tis papt, were going to have to reshuffle sectors here. Does that mean its dead . I think its dead. I personally have dug a six foot grave for it. With a lot of help and weve created a crypt around it so you really cant even get back. I love that. Thats the word i was looking for. Thank you for that. I think its dead. I think youll see the house leadership pull back more and more on it. Look, the revenue issue, we get so hung up on this stuff. Its not that important. These things, these will pay for themselves over time. Growth solves all these problems. But i appreciate your point on companies and no, i dont think its going to happen. I dont. Last time. Gasoline tax going to happen. Infrastructure bank. I dont know. Gasoline tax, no way. Infrastructure bank, can i just tell, i dont want anothfannie r freddie mac. You want to set up a private fund, have private board of directors, im okay with that. But i think infrastructure remains a key part of his and congress agenda. So, i mean, i think were talking growth, profits and stocks. Ill really do. Im in a good mood about this right now. Thank you. Get to sue with the latest news update. Indeed, i do, melissa. Thank you very much. Heres whats happening this hour, everybody. Secretary of state Rex Tillerson sending north korea a tough message at United Nations this morning. He called on the International Community to start enforcing existing u. N. Sanctions on pyongyang. With each successive detonation and missile test, north korea pushes northeast asia and the world closer to instability and broader conflict. The threat of a north Korean Nuclear attack on seoul or tokyo is real. Pope francis greeted by egyptian president al sisi in cairo. The pope is in egyptian for an historic visit. New fda rules to help consumers fibd out how many calories are in their restaurant meals. Are set to go into effect next week, but could be delayed again. Some Business Leaders are lobbying against the rules, saying they are burdensome. Its already been delayed twice. That is the news update this hour. Back to you, melissa. Sfwl thank you very much, sue. Pete is watching unusual activity in a big tech name that hasnt been on anyone radar today. Thats ahead. Today on power lunch at 1 00 eastern, mario is our guest host. Royal caribbean hit a new high. The cruise operators ceo will lay out his growth man and much more on the president s economic agenda in the next 100 days. Mar after this quick break. Governor has declared rep a Winter Weather emergency. Announcer soon, Insurance Companies wont pay for damages, that is, not if they can help prevent damages from happening in the first place. At cognizant, were turning the industry known for processing claims, into one focused on prevention with predictive analytics. Helping them proactively protect the things that matter most. Get ready. Because were helping leading Companies Lead with digital. Pete may be working at home, but hes still on the lookout for unusual options activity and what are you u seeing today . Absolutely. You know, its interest, we were talking about so much tech and then today before i was walking over here, had a nice, huge buyer of oracle calls. Weve had oracle in the past. They were right in the path, so i like to follow paper thats been krek in the previous times, so what were seeing today is the july 48 calls. 8500 of those were bought today. Very aggressively bought, these are pretty far out of the money when you look at where the stock is trid traiding now. Earnings arent until about mid june, so this would take in that earnings report. Because theyre going out to july. They sold the july 50 calls against this. 8500 were bought at the 48. 8500 were sold at the 50. Total cost of the trade, 22 cents. Very inexpensive way to have a big position on. Leveraged nicely. Getting time and the cloud. Getting technology. On a stock that i like a lot. Youre in it, right . Im in it, in the same spread, everything. So ill be holding on to this one probably at least through the earnings cycle itself p. All right. Have a great weekend. See you next week. Take care. Farmer jim may be about to make a big move trading diamonds for dirt. See why next. Plus, should you buy into the stanley cup trade . One traders bullish bet on ranger nation. Back in two. You always pay your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Qualcomm and gm down. Very different story on both these gm. Had actually a decent quarter. Qualcomm said apple is going to halt royalty payments and yet, the stocks are move ng the same direction, which is lower. You own both. Zpl this is a busy day. Exhausting to tell you the truth. And qualcomm wasnt supposed to report today. Like you couldnt have enough earnings today. Qualcomm is locked in this battle with apple. Theyve done this so many times in the 20 years theyve been at this. I can remember broad com ten years ago. This is part of the negotiation that goes on. This poised is poised asymmetrically to rise when they settle with an a l, which they will. I dont know when, nobody does, but thats what happens. Weve seen this movie before. Theyll settle the stock, it will go higher. Some are making the case, too, that if you take out the apple royalty payments, you derisk the story. This ahead of the acquisition of nxpi. What else is there in this story, youve seen the worst Case Scenario and take a rolookt the price action, the that was pretty darn good, melissa. Ill switch with you. A very patient guys waiting for a decade for this stock to go up. Here we go. Lets take gm. How about gm. Gm is the Rodney Dangerfield stock of the stock market, but face it. While youre waiting for the stock to appreciate, its up a little bit on the year. You get this 4. 6 yield along the way. They will probably raise that, cha traded Something Like 1. 1 times book value. This is a ridiculous price and a value thats gummed up by a lot of good will or stuff like that. Its six times earn, u be the problem is theres half f a world thinks earnings are going down versus last and half the world thinks its going up. I happen to think its going up and the evidence in the earnings says it is. I think half the world thats bearish on the stock sees that used vehicle prices are dropping like a rock. Delynn quincies in terms of auto loans and pef talked about that, too. But heres and thats a very good point. The other side, the bull case says lets keep this simple. The labor market is very, very strong and as long as the labor market is strong, the average age of cars in america, Something Like ten and a half years. People want in general new er cars and if they have job security and wage growth, theyll buy a new car. But if they cant trade up if they have wage growth, theyll be able to trade up. But for them, its from a 10yearold car thats been very well maintained because free maintenanced on cars with three year leases because of all the subprime lending thats been going on for years and years, so they are trading up. Not trading up new cars, plus, you have the auto companies, the rental companies that arent buying and selling as many cars because i know prices are down, but theyre selling less to those companies. Its ubers now. The dynamic rs not for them. Weve been having this argument for three years. The stock price is pretty much flat, however, the earnings have gone up, up, up during those three years. The market will pay for it. Its called Rodney Dangerfield. How much is the market up in those three years . Lets go on the hunt for some value stocks. Trading diamonds for dirt. Hang on. Got to kacatch my breath. Steves at it. I thought you were tired or something . Tractor supply, he likes to farm, has a tractor, all that sort of stuff, but this is a story similar to a tj max or ross stores. Its a niche retailing. Who farms in khakis and a golf shirt. Its not my business. Im having fun, pal. Come come out and visit me. Well have some fun. Maybe a tree will drop on you. Oh. Lets be serious here for a second. Heres the story. They have about 164 stores west states. Thats huge, like onethird of the u. S. They can easily triple their store count there without saturating. Theyre selling things like agricultural products, cheap clothes. Obviously tractor supplies. Why is the stock down 18 , though . They had an earnings miss. Not an earnings miss, they preannounced a couple weeks ago and came out with the same earnings that they said. Thats giving the opportunity because its cheaper than ross stores or a t. J. Maxx. I dont own it yet. You also like msg but we have to move on here. Thank god. Get energized for the blitz. Exxon mobil, chevron, philips 66. Im dr. Kelsey mcneely and some day you might be calling me an energy farmer. Energy lives here. Time now for an energy edition. Exxon mobil beating expectations as profits more than doubled from last year. Steve . Their outlook was pretty positive in terms of their businesses, but overall cautious macro outlook. Every metric they were up and talking about just general their environment again across the world china was even up but, again, cautious on the overall environment. They see a lot of supply coming from the u. S. So, again, as ive said before the u. S. Is now the new opec in terms of controlling what prices will be. Next up chevron a strong postings earnings beat. Jim . I dont make a strong distinction between chevron and exxon mobil. Theyre both super, Super Integrated Oil majors. And so, frankly, if i look at either of them including chevron, its well run and has a 4 dividend yield. Prices are going lower because of supply as steve mentioned. Im not too enthused. And phillips 66 after a jump in profits, joe, where do you see oil going . Its about the refiners right now, about gasoline which needs to be balanced. We need to have exports, to have a strong summer driving season. Youre beginning to see stabilization. I know jim owns marathon which is the best perform earp of the refiners this year. Strong move in phillips so far this week up about 5 . I like the move that youre seeing. Phillips has not hurt you over the last couple of years. I think thats a nice, stable play. I think you potentially could see summer driving season be a good one. So if you both own refiners, i imagine that when larry said b. A. T. Is dead that was a sigh of relief for you. I hope not to step on anybody but its not clear how that sector responds because different refiners source their oil from different areas. Marathon . Its a lot on the continental u. S. More importantly, iranian election, its what happens, do sanctions get restored once again. Thats whats most important as it relates to energy. Up next, next weeks earnings and final trades. Whoa thats amazing. Hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. Type in your idea. Select from designs tailored just for you and publish your site with just a few clickseven from your. Mobile phone. The internet is waiting start for free today at godaddy. Why pause a spontaneous moment . Cialis for daily use treats ed and the urinary symptoms of bph. Tell your doctor about your medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. Ask your doctor about cialis. Welcome to holiday inn thank you wait, i have something for you making every stay a special stay. Holiday inn, smiles ahead. Whether for big meetings or little getaways, member always save more at holidayinn. Com welcome back to the Halftime Report. Earnings continue to roll in next week. We talk facebook and apple and will hear from merck, pizer, another very, very busy week. Joe, what are you watching . Cvs . A name that i own. A name that fell around 75 but i think is beginning to recover and given tax rates, Corporate Tax rates, domestic sales 100 , they have a high tax rate, a big beneficiary. 39 tax rate over the past ten years for vcs. Thats extremely high. Commentary will be interesting on that Conference Call. Jim, what are you watching for next week . Apple. Obviously its the big daddy. One heck of a year. This quarter, melissa, should not be that exciting because a lot of people are holding off smartphone purchases in anticipation of the iphone 8. But and pete mentioned this earlier, the services for apple, you know, itunes, apple pay, apple care, thats where you should see growth and that could excite the stock higher. Its less than 1 . Facebook. I think its going to be interesting as a final trade here Going Forward but also into next week theres going to be euphoria. People dont want to miss out like they missed out on amazon. Preearnings were witnessing . Im going by josh brown playbook. Just going to keep going up and to the right. Up and to the right. It will be interesting. That was his final trade as well. Two in one. Whats yours . Fizer, theyre not going to do anything with a dividend. How many shares they buy back. Thats what im interested in. Alphabet and amazon approaching 1,000, how about price line approaching 2,000. Wow. 1,850. Report earnings the day after. Keep an eye. Im going to name my own price. 2,000. That does it for us on the Halftime Report. See you on power lunch. It begins now. We will see you, melissa, thank you. Here is what is on your friday. Front and center on wall street three things, earnings, they are earnings, and they are more earnings. Now the latest numbers may play out in this market. President trumps first 100 days. Today he signed an executive order to fuel the Energy Business speaking at the nra in atlanta this hour. Were going to look ahead to his economic agenda for the next 100 days. And one of our stocks draft teams is already taking an early lead. Choosing amazon as their firstround pick. Amazon rockets higher on solid earnings. Im brian sullivan
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