necessarily have to say we're not going to let you guys celebrate prematurely. also the meme stocks running, the negative stuff waking up it's going to be a negative if it goes too far but it's too early to say that's somehow overshot >> doesn't feel like there's a bunch of conviction behind that. >> you don't know. it could build >> that's mike santoli he'll be with us tomorrow their his last word. that does it for us. i'll see you then. "fast money's" now right now on "fast" a cpi sigh of relief stocks keeping the new year good vibes going after the latest sign that inflation is cooling will the kickoff of earnings season tomorrow take the steam out of the bulls or kick this rally tyne high gear plus grumpy activist nelson peltz making his case on cnbc for what is wrong with disney, why the fox deal is a disaster and why bringing him on the board will help boost the bottom line. should iger say yes? we'll debate that. and later it's ladies' night for our latest acronym reveals karen's cooking up tasty trades while julie beal's casting in the small cap pond.

and then there's this. that my friends is miss el salvador and she's wearing a bitcoin dress in a beauty pageant. we've got the full story on this one coming up. i'm melissa lee. this is "fast money. we're live at the nasdaq marketsite we've got a full house on the desk tim seymour, karen finerman, dan nathan and guy adami. we start off with the goldilocks reading on inflation the latest cpi giving markets exactly what they wanted the dow up,n't nasdaq continuing its rally for ail fifth straight day its longest winning streak since last july the s&p flirting with the flat line but did manage to end the day in the green meanwhile interest rates pulled back as investors bet the fed may not be so aggressive with its next rate hike yields on two-year treasuries falling to its lowest since october but can this momentum continue as investors shift their attention from the economy to earnings q4 reporting season kicking off in just over 12 hours. with jpmorgan, bank of america, citi results due out before the bell tomorrow. how are we set up, guy >> that's what the bulls now have to prove themselves, right?

in the form of earnings. okay so the cpi i think -- if you're bearish it gave you something, if you're bullish it gave you something if you think the fed genius. everybody got a little bit of something today. now they're in the rearview mirror and probably rightly so now it comes down to earnings. and we've been saying for a while, earnings are what matters. earnings are going to disappoint we'll hear from jamie dimon in the commentary what he thinks. as we saturday in earnest in earnings season this is what matters. again, more and more of these strategists are ratcheting down their earnings numbers more and more people are saying the multiple currently be being paled for the market is too high in this environment. so you can say all you want about a 6 1/2% cpi and what it me means. it always comes down to earnings and i think they're going to disappoint >> tim i asked you what you'd do you said uld fade the rally. did you? >> i sold some c we can also talk about how vol has collapsed today and has an 18 handle wh me but yes, i think we've had a

5 1/2% run since december 28th i think we've had a lot of good news and i think i kind of agree with the setup here. but the part of this that i think we've raised this question, how can consensus be right if everybody's calling for a devastating end to the first quarter when cash levels are where they are, when certainly professional investors and i think a lost retail investors have a lot of protection out there that they've taken i look at that, i look at what went on in bond markets around the world it's kind of interesting today because we certainly saw where yields moved lower and tested really kind of that up trend. so arguably we've now actually gone through that up trend which was holding. then i look over to japan and i know people don't really look at jgbs, the japanese ten-year benchmark, but got over 50 basis points, which is what kuroda started doing three weeks ago. the yen collapsed. the dollar -- excuse me, the yen rallied 2 1/2% the dollar continues to fall and these are things that are very important and they're actually good for equities and to that extent i think that was positive >> karen, you also sold some

calls. >> i did i sold some jpmorgan calls i hate when the banks run up into earnings. that's been a high bar for them particularly given the move that's been really extraordinary. i did sell some calls. i think that the market seemed to be up a couple times on this news, that cpi would be lower than we thought, and that's been sort of the calling card for the rally for the week now that happened i don't know, i sort of feel like that's priced in. and to guy's point, okay, now let's see what companies are really earning, let's see what the bank, both jpmorgan and bank of america have to say about how the economy looks and how the consumer looks >> market should have been up so much more today. and when you think about just the skepticism that just pervades most -- >> even given the rally -- >> to tim's point -- v -- well, no, what i'm saying think about jeelds, think about where the ten-year is, think about where the dollar is, it's collapsing, it the dixie's on its way to 100 it's going to be trading at six, seven-month lows in the next few

days and i just thought about we were talking about this in our noon call today it looked like a really green day except the s&p was up 40 basis points there was no real leadership in my opinion, not anything that said you've got to go in and chase this into earnings season. i'll just say this about the banks. this is a really horrible setup if you're bullish on banks jpmorgan fantastic, up 38% from its october lows when it was trading at multiyear lows into that q3 earnings print that wasn't as bad as expected. jamie dimon changes his tune a little bit on the macro. kind of tweaked it a little bit. but that's not a great setup -- >> have you ever seen a good setup for banks? and i ask that -- >> how long have you been doing this for i think since april 2009 since the bottom i've been selling the banks since then there are times that in early october of last year i was not saying to sell the banks because -- >> you were. >> what's that >> you were. at 102 you were saying sell jpmorgan, it's going lower >> no. >> i remember it very clearly. >> no. >> split them up

>> they have the -- there's a great commercial out where there's like a son and a father and the factor -- >> they can throw the -- >> you have the replay that's what we should -- >> i will be very clear that i was adamant for a year that jpmorgan and these banks would fill in their gaps -- >> i believe that as well. >> but i just -- you know me well i don't trust things at levels like that. >> i totally disagree. >> we have a news alert we want to get to. >> okay. >> news alert here on charges in the crypto space kate rooney's got the latest >> the s.e.c. is charging two crypto firms with allegedly selling and offering unregistered securities. this is for gemini, which is run, founded by the winklevoss twins, and genesis these two firms had teamed up on one of those high interest bearing products it was called earn it offered about 8% yield for customers. on the back end they were

lending that out to hedge funds. and the s.e.c. saying that this product should have been registered as a security gary againstler in his statement saying today's charges build on previous actions to make clear the marketplace and investing public that crypto lending products and their other intermediaries need to comply with time-tested securities laws i mention the the winklevoss twins here of facebook and social network fame. genesis, meanwhile, is a lending firm one of the first really market makers and lenders in the space. shut down a few months ago as a result of what's happening with ftx. but one of the big lenders here, they teamed up as i mentioned on that interest-bearing product. these two firms have been fighting back and forth over this earned product but the latest here from the s.e.c., we've had a lot going back, back and forth between these two firms when it comes to this. but an action here and statement we've got from gary gentzler melissa, back to you >> kate, it seems kind of odd, too little too late. how long has this program been going on there were other firms also

engaging in similar practices in terms of lending out -- offering customers to lend out their crypto for a high-yield return and here we are the s.e.c. doing this after this program was effectively shut down? >> yeah. absolutely too little too late if you look at in terms of customer protection. there's now a class action lawsuit against gemini because about a billion dollars or so of customer money from gemini is locked up in that lending product. so this does not prevent anybody from getting into the securities contract it is sort of retroracket v active i if anything it seems to be a warning shot to other crypto companies that are probably already on high alert based on what's happening in the lending space. but absolutely i should also mention that genesis is also owned by a digital currency group which is the same parent company that owns the gray scale bitcoin trust, which is a publicly traded investment vehicle, gbtc. so there's been a lot of talk

about what this means for that investment product itself. >> all right, kate, thanks kate rooney with the very latest on that. let's get back to the -- >> the fight >> cpi >> i mean, it was a cage match going on here. >> i think we will i don't know october 10th or 11th check it out >> october 10th or 11th. you've got a date. interesting. >> interesting >> getting back to -- >> what do you want -- >> no, i -- okay >> to continue to litigate this? >> this is going to be fun >> but things are very nuanced on that particular day then he could have changed his stance >> yes and i agree that he was bearish well before then >> well, can i -- les talk a little bit about -- >> please. >> -- some other earnings. i think it's important to keep moving forward i was always the peace maker of my family. and i think you have a dynamic here, if you looked at taiwan semi, the most important i think semiconductor company in the world was up at one point intraday almost 9%, closed up almost 7%. the message that they give they largely derisk 2023.

they essentially had guided lower and they hit that and maybe even beat upon it. they said 24 they're starting to see the cycle turn what we say about semiconductors all the time is you're buying them six to nine months ahead of when things actually do get better so if you look at this and look at the smh which is the etf that tracks the semiconductors that's up 18% vs. the s&p since october. that's actually brokin its down trend where as if you look at the qqqs it continues to make new lows who's right? i don't know but in earnings land that was today and that was pretty constructive >> so can i pause at this -- >> it's your show. >> that's right. i can pause at anything i like perhaps the markets have done the same thing to some extent. maybe that october low reflects the earnings reset that we are about to have already. because think of what has changed since october. where are rates now? >> lower >> where's the dollar now? >> lower >> right where's inflation now? lower. lots of things are down. >> can i pause it back to your posit?

so i would submit in an environment where things have never been more cloudy for corporate america or corporations worldwide how in the world can taiwan semi come out and say yeah, it's going to be a miserable first half but somehow magically they're clairvoyant into the second half you explain to me that they have visibility into the second half? no they don't they've bought themselves three or four months without question. but there's no way they know what's going to happen no shot that they know what's going to happen in the back half of the year. just my opinion. that's my posit back to you. >> but that's taiwan semi in terms of 2024 or the back half of 2023. but how about the markets and the october low reflecting the earnings -- >> we're playing ping-pong here now, you and i because i'll play the game if you want i'm sure there are other people who have some thoughts karen, for instance. >> no, why don't -- >> it's a fair question. >> perhaps we've already discounted that. >> but where are we from that october low? we're a lot -- it's a different risk reward now. >> right >> it's moved a lot. i mean, if there was asymmetry

then i think, you know, now it's a different equation i don't know what's priced in. and i always come back to it's not a monolith someplace companies are going to do fine, some are going to miss >> and i would posit that -- >> reposit >> no, we've been positing about the fed and possibly the dollar. and a lot of macro but we haven't been positing on the ground up which is companies themselves this next move is where we're going to get to the next part of our conversation which is the earnings adjustments haven't necessarily been made. it's been easy to adjust to the stock market as a monolith and say it's not worth the multiple as a group that it was because rates were here, rates are now here, you should pay less. now let's listen to the companies because on an earnings by earnings basis i think they're going lower. >> our next guest warnlgz there is too much optimism heading into earnings season he's a cnbc contributor. so you would posit, i would imagine, peter, that we are still too high on a multiple basis on the broader markets

concerning what we're about to get into, earnings season. >> well, i think pendulums swing in the other direction they don't just stop in the middle and if you look at a multiple perspective on a p/e ratio where we topped out at, what, 22 times and now we're about 17,18 time i just don't see that as being trough valuation, particularly with rates where they are and the earnings trajectory that we're seeing, which is down. so i'm looking at a multiple that's going to bottom out at 13, 14 times now, we can all debate what earnings that will be priced off but i don't think we're close to pricing in an inexpensive market, which usually typifies the end of a bear market >> higher for longer, peter. people are discounting it. it's in your notes i agree. you've said it for a while that's been the missing piece i don't think the market has fully taken into consideration >> i agree when you think about call it a 15-year period where borrowing costs were very low and then all

of a sudden you get this vertical move in interest rates, every month that progresses from here there is somebody refinancing their debt at a much higher interest rate than that -- of the loan that is maturing so each month, each quarter that progresses from here, cash is going to be more eaten up by interest expense and we know that leverage and credit have been a main driver of economic activity and less so natural savings. so as this cost of capital just remains elevated, i mean, just by keeping the fed dpunds rate even at current levels for a longer period of time creates its own down draft on the economy. again because of all the debt that's out there priced at a much lower rate than current market rates that will then be refinanced in current market rates. >> you know, peter, much has been made about what the companies are going to be saying in terms of guidance but we have had some remarkable changes in just the past month or two in terms of where rates

have come, where the dallas is, where inflation is, where inflation expectations are now do you think that perhaps we're too on one side of the boat in terms of anticipating that the guidance will be so horrific this time around >> that's a good question. maybe. but i think the profit margin story is really the next focus here if you look at two of the main drivers of profit margin expansion the last two years outside of the corporate income tax cut in 2017 was lowered interest expense and low wage costs. and that has clearly shifted to the opposite side. so i'm actually thinking that the u.s. -- i should say the global economy this year may actually be okay relative to current expectations because of the reopening of china but profit margins on the other hand could be a real depressant i mean, profit margins 20 years ago anch averaged above and

below 6% we're twice that there's a lot of mean reversion in profit margins that could be enough to clip earnings even if revenue growth doesn't change that much, even though i do think for those domestically based companies you'll see softer revenue growth than that internationally. >> peter, it's karen thanks for coming on you talked about the pendulum of earnings swinging, it was too high in the low 20s, where we are right now, it doesn't stop here where do you think it would stop >> i still think 13, 14 times is where it's going to eventually end up just look where interest rates are, at 15-year highs. to me that just augurs for a lower multiple and i think we'll eventually get there. again, the key part of that is what earnings are going to price that off but i think we're still -- and that's just the p/e ratio. i mean, the price to sales ratio on the s&p 500 is pretty much the same where it was in march 2000 so we can use other valuation metrics that still equate to a

very expensive market notwithstanding the pullback from the highs >> peter, always great to get your take. peter boockvar of bleakley dan, what sectors do you think are most -- >> well, first on that multiple. it's interesting that the ten-year average is like 17 in the s&p or something i guess we kind of got when we were really kind of gloomy maybe at other periods, selling banks at the lows or something like that, where do we bottom out normally, 13, 14 times and then you're kind of looking at what trough earnings should be or whatever, and that's just not going to happen. guy, you made that point a couple times over the last few weeks or so. let's just take the average. let's take 16 or 17 times. and i guess the point that s&p earnings are still expected to be north of $220 we've had this conversation a lot. it won't take a whole heck of a lot of just a kind of economic malaise. i don't even mean the hard landing scenarios of just some sort of recession that we're not going to know until we're on the other side of it to get earnings close to $200 by 17.

it gets you down 500 or 600 points on the s&p 500 from here below those october lows i know we're going to be obsessed with those october lows for a long time. i just think it's important to recognize the fact that it seems like everybody's convinced that the first half of this year they're going to find a bottom of the stock market. that makes me i little wit bit nervous because that consensus is here. and we're not going to know what the multiple on the earnings are and where they'll trough until way after the fact >> coming up airlines take off american leading is there still a lot of runway for this trade plus nirvana for carvana today t ares surging nearly 50%. buone of our traders isn't feeling it the names making the moves when "fast money" returns

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welcome back to "fast money. american airlines topping the tape today shares soaring nearly 10% after the carrier hiked q4 revenue and profit estimates the company citing strong demand and higher fares for the holiday quarter upgrade. the stock is up 32% already since the start of the year. and it's not the only airline seeing strength. united's up more than 36%. jet bleu 25% delta 21%. what do you do, tim? >> you trade airline stocks

aggressively but i think you have more room to go i believe these airline stocks have lagged. and i think you have a dynamic here, it is acronym week, by the way, on "fast money. and if you listen to these airline companies they're going to talk about a revenue profile that is above 2019 with capacity that's significantly lower than 2019 airline stocks for as long as we've known them have been traded on the analyst community, investors community, confidence in their ability to be efficient or not you always assume that the minute they have it good they throw out too much capacity, they kill their own business and they kill their own multiple right now the multiples are -- well, on a profitability basis they're actually where they were they're better than they were in 2019 the multiples are very high right now because they didn't earn any money in the last six months and they now start to earn money you stay in this airlines trade. united up 35% in seven sessions. you don't have to buy them tomorrow and i think you probably have to pull back some of this. but the move is higher on multiple the move is higher on profitability because demand's

not going away overnight >> your favorite, it's not an acronym, is it razum. >> revenue -- >> per available seat mile it speaks to operating at less capacity vs. 2019. >> 10% lower capacity. >> i wonder if these domestic carriers -- southwest had a couple weeks and has not had the sort of rally that these others -- they're up 30, 25% across the board and this one's up 10% on the year i wonder if there's m&a that comes back into this thing because if you think about southwest, the knock is just the systems and stuff. is in another carrier, is it jetblue or something like that where they can kind of maybe realize some quick efficiencies that would change the narrative of the story because this is not a good one right now >> but to tim's point they are trading vehicles he's been spot on. the move in delta over the last week specifically 33 or 39 is interesting. now where are you getting off this plane see what i did there

>> hopefully after it lands. >> excellent point >> unless you're like tom cruise who by the way is a huge fan of the show >> i know he's watching right now. >> 43 is the level that's where we broke down from in the spring. that's where it probably gets back to over the next month or so >> there's a lot more "fast money" to come tom. here's what's coming up next >> carvana shares enlightened. as the stock makes a big u-turn. but kiraren's not feeling the nirvana. how she's meditating on the stock. next plus disney drama. one activist investor hoping to make some magic. but is the entertainment and streaming giant fine op its own? the details ahead. you're watching "fast money" live from the nasdaq marketsite 'rba rhtft tare. wee ckig aerhis. y goals? the plan we created can withstand uncertainty. lately everybody has opinions about the economy, but i count on personal financial advice. my ameriprise advisor understands the markets and me. she knows my goals and can help me

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welcome back to "fast money. meme stocks seeing massive gains again as wall street brace forz another short squeeze. shares of bed bath & beyond surging 50% today. since the start of the week the stock has quadrupled trading at the just over $5 a share bbby still down 75% over the last two years carvana also with an off the charts move today up more than 45% for the week it's jumped over 80% but last year at this time carvana was trading at 186 bucks a share. like bed bath & beyond carvana's grappling with a lot of debt karen, you actually put a trade on >> i did i actually bought some carvana puts so i wouldn't be short this because obviously you can't know what the down side is in being -- >> can you even get the borrow >> i just bought the puts. there's a big short interest

i just think we've got a couple of events that could happen and that's how i tend to trade with march 17th options we're going to hear from them february 24th i believe, their earnings, we'll hear whether they've got, qualified opinion, they have a debt payment coming up march 1st those are a lot of very big events that will tell us whether or not they're considering filing for bankruptcy. you think about the cash burn here and you think about the debt and you think about the news that the creditors are working together, they've agreed to work together it's telling you this is ridiculous and that a bankruptcy is likely. however, if i were carvana i would be, if i don't have a shelf already, i'd be trying to get that done as soon as possible i don't know if you need a warning on that label like hey, things are really bad but -- >> what amc did every time >> hertz tried to do it. and then they couldn't that's what i'd be doing -- >> we talked about these names,

best buy here's the thing, for most of our viewers, you just don't want to be trading options. this is an $8 scott. if you look out to march expiration the 7 1/2 puts are offered at $2.75 so think about that. you need to break even if you're going to buy those on march expiration to 4.75 okay so that's all the way down from $8 just the risk reward is not great. the strongest likelihood is that you're going to sit, you're going to own those things, you're going to just lose a little money every day i'm saying unless there's some news -- >> we do have a couple of events >> i'm just saying it's a tough way to do it >> and that day march 1st takes into consideration the cure period. >> no, it doesn't. but they have to announce we're not going to pay or we have this -- or they'll pay that's news as well. >> right okay well, one options trader's taking the other side of karen's bet on carvana mike khouw has the action on that >> i'm not sure they're taking the opposite side of what karen's doing because we did see a lot of puts trading. some of them apparently were

hers but we did see this was the eighth busiest single stock option today calls outpace puts by more than 2-1 and the biggest trade was a purchase of the 8-10 call spread we saw 4500 of those expiring in january. this is probably a short squeeze bet. karen's point, the debt here, every single one of these bonds is less than 50 cents on the dollar and some of those mature in about 30 months or so there's obviously a high probability of default baked in on the debt side and i think that speaks to why you're seeing a lot of people buy puts in this thing as well with those catalysts upcoming >> what do you see if anything in bed bath & beyond today, mike i was just curious given the huge surge in that as well >> this is basically the same story. people are trying to use a little bit of capital to make leveraged bets one way or the other. one of the things that just came up here the question was what's the cost to borrow these stocks. of course that's going to elevate the price of those puts because people can use options

to synthetically get short or use a construction of -- and you have to pay up to do that. but if you have catalysts you've identified i don't think you're going to see those puts decay immediately until those catalysts have come and gone >> mike xhou for more "options action" tune in to the full show tomorrow 5:30 eastern time. coming up more new year's acronyms on the way. one of our traders is casting her picks all the way from the west coast we have those names ahead. but first the peltz pressure how far one activist investor will go to be part of disney's world. the details next when "fast money" returns good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting?

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♪ every click you take ♪ ♪ i'll be watching you ♪ - [narrator] the internet doesn't have to be so creepy, the duckduckgo app, lets you search and browse pria blocking most trackers all forf your search history is never tracked, so it can't be shared. and when you leave search, duckduckgo helps keep companies from watching you as you brows. join tens of millions of people making the easy switch by downloading the app today. duckduckgo, privacy simplified. another check on the markets stocks closing out in the green after this morning's cpi data showed inflation cooling further in december. the s&p climbing .3% and the nasdaq notching its fifth straight day of gains one standout mover today taiwan semi, shares up more than 6% after reporting strong earnings. the stock now up nearly 17% to kick off this new year turning now to the disney showdown activist investor nelson peltz is gearing up for a proxy fight

against the entertainment giant after the company opposed his attempt to secure a seat on the board. here's what peltz told our david faber this morning about why he's going after disney's management >> my goal is to reduce corporate overhead to a point that the company gets better i'd like to see this company stop running like a matrix and start running like the companies we've been involved in, where they have real ceos of businesses with real p & ls, real cash flows and real projections. >> so is peltz right let's bring in matt bellamy of puck he's the former hollywood reporter editorial director. matt, great to have you with us. >> thanks. >> you know, for shareholders they got a great, you know, terrific surprise with iger coming back and now they have this choice as to whether or not they want to allow peltz on the board when they vote their proxy. so i'm wondering if you think

peltz's arguments resonate when i'm sure a lot of disney shareholders would like to see what iger has to offer >> yeah, that's the bizarre thing here, is because iger was welcomed the savior of the company after the debacle with bob chapek and now the honeymoon is really over he's got to figure out how to deal with nelson peltz what he's saying isn't wrong yes, they do need to reduce costs. they do need to look to a sustainability model for the streaming business, which disney's had real problems there. they lost $1.5 billion in streaming last quarter but it's not as if iger doesn't know this and isn't making these moves already to do this and a lot of the stuff that nelson peltz is saying, for instance in the interview he said streaming is an easy business well, it's not an easy business. and you might know that if you were a long-term media investor, which he is not. so it's a bizarre time for this and i'm not sure the shareholders are going to go for this >> what does disney have to

lose what does iger have to lose if anything by saying you know what, a lot of what peltz is saying are things we want to do, we want to cost cut, we want to run this business efficiently, et cetera, so you know what, have a seat on the board >> well, if iger -- iger is very used to kind of having discretion and having a board that has been very supportive of what he's done and he's returned. i mean, he's returned this company's -- it did very well over the years in his first tenure so welcoming back a guy like -- welcoming a guy like peltz onto the board doesn't seem like it would be positive for iger in the sense that he wants to do what he wants to do. now, i don't know that he looks at this and -- i don't think peltz looks at this as a long-term play he's looking at this as a short-term play. he's saying okay, they can cut costs but what iger needs to do is he needs to set a strategic

vision, he needs to look at this company and say okay, what are we going to be in five, ten, 15 years, much like he did when he took over the company the first time, and set a real path here for the streaming age. it's very different than when he left as ceo in 2020. and he's got to figure that out. and i don't know that nelson peltz is going to help him on the strategic side at all. >> hey, matt, it's tim thanks for joining us. do you think some part of this is to get back to kind of the core flywheel that is what makes disney so successful and really emphasize a little bit more on that parks and recreation business, which is the business that people invest around and delivers a dividend and is the magic kingdom. >> yeah, absolutely. but it's interesting one thing nelson peltz does not mention in his statements is the pandemic i mean, disney went through a very, very rough time during the pandemic when the parks were absolutely closed. the cruise business was closed and now coming out of the

pandemic those businesses are going through the roof and really it's the streaming arena where they have to kind of figure out the strategic vision. and yeah, that flywheel is the flywheel and he's right to mention that and say get back to that but they haven't really gotten away from the flywheel they just have to figure out the transition from a cable television universe to a streaming universe because for so many years disney was buoyed by the streaming -- sorry, by the cable universe and by owning espn and that is not going to be the case for the foreseeable future. they have to figure out what the streaming future is. >> matt, thank you so much for joining us matt belloni of puck it's interesting matt mentioned that peltz, this might not be a long-term play for him it's not long-term for iger either you've got two short-termers here trying to figure out what the strategic direction is for the company maybe five or ten years out. what would you wish the company would do >> well, let me just say one

thing. i don't think of peltz necessarily as short term. he's been in some of these things for a while continuities like he's looking at let's get disney sold so i think he has some credibility there. and one of the things i thought was most powerful that he said, i have ceos who are used to -- they used to be combatants and now they support him so that's interesting. the succession issue obviously hasn't been great. tom stags i think for a while was the heir apparent. for whatever reason he left the company. and chapek i don't think they can do anything significant until they pay down some debt they're hamstrung by that. >> yeah, i would say the debt thing. nelson peltz, bob iger, they probably roll in the same circles. i'm not sure you need to make a big case to get a board seat to affect the change one way or the other and i don't see why bob iger and the board need to give a seat you know what i mean have at it go on cnbc with mr. faber every other week and talk to him about what they should be doing. they will hear it and ultimately it will either work itself into

the broader investor base and some of the management thinking. >> matt said the timing was curious. that's probably my word, not his. i think the timing is perfect if you're nelson peltz. listen, he turned 80 years old last summer. he's extraordinary in what he's done in his career this is moby dick for him. i understand procter & gamble's probably twice the size of disney, market cap, but disney is disney. everything he said bob iger knows, absolutely. we talk about the same type of stuff. but if in fact disney starts to turn around nelson can say i i was the guy that turned around the walt disney company single-handedly. and that's a huge pelt on the peltz -- >> pelt for peltz. >> -- wall >> do you want peltz on the board as shareholder how will you vote your proxy >> why not but i don't -- he's as qualified as some of the other people on the board in terms of media experience he's certainly qualified in terms of how to drive governance and drive efficiency bob iger's doing this anyway i think the most -- what i want to see disney do right now is

get to paying a dividend that's a big problem with the stock. this is a stock people own for that dividend. it's the kind of stock people own long term for that income generation and it implies free cash flow and profitability. >> coming up, it's ladies' night. karen is here and julie beal -- >> it feels so right >> for the reveal of the 2023 acronym reveals -- >> can you sing that >> sure. snoept you know it's ladies ♪ >> shares of las vegas sands on a run these past few months. will the good fortune continue details on the company's next empire oops that was a clue. stick around muchor"ft ne itw me asmoy"n o.

welcome back to "fast money. it's r it is ladies' night for acronyms karen is fired up for her big reveal but she's going to have to chill out for a moment. let's head out to the west coast and start with jewel yao beal. julie, what's yours? >> my acronym is cast, c-a-s-t and you know, it's in reference to the fact that 2022 yielded i mean a lot of broken bones basically. spiritually, emotionally for all of us as money managers. and i think what does a cast do? it provides stability. so i'm looking for earnings stability. clearwater analytics is a

company that serves insurance. it serves mutual fund managers with their accounting. it has 98% retention so it's able to really plan its business because it knows what's coming in the door really good stability. azenta is a company that provides health care companies with cryotechnology. it's really advanced automated technology they have a massive backlog for 2022 good stability to earnings but they also do sample storage. so if you're a large biotech company and you have a lot of your dna samples, you're not moving them. once they're in cold chain storage you're not moving them so again, stability in that earnings and then silk road medical is a company that provides t i am car technology it's helping treat carotid artery disease it's totally novel technology. and rather than like slicing into your neck it actually has this interesting technology that comes up through much less invasive and it pulls the plaque

away from your brain because this is kind of close to the brain and it's bad if it goes up. i think. i'm not a health care expert but hospital utilization has been quite low for a lot of these procedures so you can expect that to start to resume in 2023. so again, more stability and visibility and the last one is tyler technologies when i think about software, i would rather have exposure to the government sector, particularly with strong arpa funding. and if you look at tyler technologies through cycles it actually does pretty well in a recession. again, stable customer base. >> i'm glad you walked us through all these companies. these are not companies you normally talk about. and your description for silk road when you said slice into the -- i mean, i have to say everybody here we winced the thought of slicing into a neck so it was very memorable julie, thank you for that. karen, what is your red hot acronym? >> going in a different direction. i like julie's cast, though, and the theory behind it mine is flambe i worked hard on trying to come up with an acronym

let's talk about an unusual one, foot locker which we've talked about from time to time. you know what foot locker is it has a great balance sheet. they have mary dillon. and mary dillon i think is one of the greatest executives in the last i don't know, decade at least. i think if she can come remotely close to doing at foot locker what she did at ulta, which is not a totally dissimilar business, that we're going to see a lot of up side from here this is not a huge company for her. she sees something here. so i'm excited they have a great balance sheet. the only negative having her here is they probably won't do the giant buyback. but that's okay. i'm willing for her to spend because i think she's totally worth it that's the first one the second one, a, which is alphabet i think the pendulum of epe has swung way too far here so like dan is saying, we think that the faangs are going to actually lead us out so that's the a. the m is a little different, one we haven't talked about in a long time, which is mexico there is a lot to like about

mexico they have a very young population here's the thing that's really interesting. as there's deglobalization in the world the u.s. can't do it all here right? so they've got to look to mexico they are looking to mexico and i think that could be a huge positive for mexico. and in addition they have a not insignificant energy business. so that's mexico and then the last one is b, which is bank of america we talked about -- mike bay on the other day, i agree with everything he said this one's really cheap, very close to the customer and i think there's a lot of value here maybe not tomorrow that's okay. this is for the year >> so flambe it's really flamb. >> flamb >> but we'll let it go it's very memorable. by the way, bank of america ceo brian moynihan will be on "closing bell" tomorrow. so you won't want to miss that julie, great to see you. see you soon thanks for your acronym, cast. so what do we have here? we have lags, we have flambe, we

have tslq and we have -- what was yours? >> see, you come to me you remember everybody else's. i mean, you probably remember mels's mojo >> mojo. all right. >> mojo rising >> las vegas sands heading to long island. will the multibillion-dollar project move the needle on the stock? that trade and more, next on asmoy. i'm so glad we did this. i'm so glad we did this.

i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones

welcome back to "fast money. the race to land the next big casino license in the empire state is heating up. las vegas sands today unveiling plans for an ambitious new site in long island our very own contessa brewer's got the details. hey, contessa. >> hi there, melissa yeah, sands could shell out an estimated 4 billion bucks to build it if it lands the license. sands signed an agreement for nearly 80 acres at the nassau veterans memorial coliseum on long island. it's proposing a hotel, spa, conference facilities and of course the casino. likely this would be the largest scale project to be proposed for new york to one of three down state licenses and it would be sands' only u.s. casino since of course it sold off las vegas nearly a year ago. its toughest competitors,

existing casinos with no table games. so mgm resorts in yonkers, genting's resorts world in queens near jfk. wynn resorts partnering with the related companies for a site at hudson yards in manhattan close to the javits center of course, the convention center in new york and caesars pitching a casino in times square with sl green realty new york mets owner steven cohen reportedly is pondering undeveloped land near citifield and hard rock which just unveiled last year a fashionable destination hotel in manhattan all this bidding for the license starts with a half billion-dollar minimum fee, a feasibility study, melissa predicts that gaming revenue could be $4.5 billion a year my sources think that is wildly conservative >> that's amazing. it's amazing how many casino sites will would be in theory if all this comes to fruition isn't there a worry there's

cannibalization? >> there's only three licenses to go and there's a lot of not in my back yard people who are already gearing up for a fight against a casino >> right contessa, thank you. contessa brewer. tim, lvs >> the ones you want to own in the casino space are the macau centric which is lvs just to be clear i actually sold upside calls out to their today over 60 balks because again the spike so far on the outside volness i was well paid to do that i also think at some point the valuations which i think are really cheap at some point don't become as compelling but i tell you what i think casinos look re interesting on risk reward and valuation that's are significantly depressed to recent multiple. >> guy's wynn. it was >> i remember that was your acronym -- >> great song by the four seasons. >> dawn go away you're no good for me >> apparently that was true. quickly he's right to sell calls. they'll probably run up in

earnings late january. well done by tim >> coming up the crypto costume that is turning heads. why bitcoin is taking center stage at the miss universe pageant. more on that and final trades next has helped me navigate uncertain times before, now is no different. with his advice, i'm confident i'm on track. the plan we created is for the long term. no wonder clients rate us 4.9 out of 5 in overall satisfaction. ameriprise financial.

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she's beauty, she's grace. she's bitcoin. miss el salvador showing the crypto some love at the miss universe pageant with the currency costume and a bitcoin staff. last year el salvador became the first country to use bitcoin as legal tender it had its best day since november bitcoin has been up nine days in a row. the longest winning streak since july 2020. yes to the dress >> that is a good-looking coin >> a virtual dress i think that would have been good for miss el salvador. >> maybe she would win final trade time, tim. >> karen talked about mexico i don't want to give -- i like latin america too. you want to go ahead >> that's okay you were probably great at keeping secrets when you were a little kid mine's mexico. surprise i like the etf

>> dan >> gld >> all i can say is thank k. wasn't enrolled in that. can you imagine b.k. in that dress? shout out to b.k wynn resorts, melms. w-y, in, in. >> that's correct for watching "fast money." see you back here tomorrow at 5:00 for more "fast. "mad money" with jim cramer starts now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you a little money my job not just to entertain but to educate, do some teaching call me, 1-800-743-cnbc. tweet me @jimcramer. another day, another softer economic number, another step