Navigating 3 Big Stock Moves… And Opportunities in Private Credit 6/3/25

Summary

CNBC's "Fast Money" Podcast Summary
Episode: Navigating 3 Big Stock Moves… And Opportunities in Private Credit
Release Date: June 3, 2025
Host: Melissa Lee
Panelists: Tim Seymour, Karen Feinerman, Dan Nathan, Guy Adami

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Introduction

Hosted by Melissa Lee and featuring a seasoned panel of top traders, CNBC's "Fast Money" delves into the day's most significant market movements and investment opportunities. In this episode, the discussion centers around three major stock movements—Nvidia, Netflix, and Boeing—and explores burgeoning opportunities in the private credit market. Additionally, the panel touches on noteworthy corporate actions, real estate trends, and significant developments affecting both retail and institutional investors.

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1. Major Stock Moves

a. Nvidia Surge and Market Position

Nvidia's stock soared nearly 3% amid a robust day for chip stocks, reclaiming its position as the most valuable stock in the market at nearly $3.5 trillion—a status it last held on January 24th.

• Dan Nathan ([02:03]): Reflects on Nvidia’s performance post-earnings, highlighting past volatility and potential future targets.

• Karen Feinerman ([02:59]): Discusses the uncertainty surrounding Nvidia's new China chip development amidst fluctuating U.S.-China tech relations. She emphasizes staying long on the stock despite recent sell-offs, citing the enduring demand for AI-driven GPUs.

• Tim Seymour ([04:35]): Contrasts Nvidia with other tech giants, underscoring its valuation relative to the NASDAQ and suggesting a comparative advantage over the broader market index.

Notable Quote: Karen Feinerman at ([06:38]): “We don’t see any meaningful pickup in Copilot and that sort of thing. [...] So sooner or later, you're going to get a bit of a digestion.”

b. Netflix’s Intraday Record and Price Target Increase

Netflix shares touched a new intraday record, buoyed by Jefferies raising its price target from $1200 to $1400, attributing growth to US price hikes and a robust content slate.

• Tim Seymour ([06:38]): Highlights Netflix's resilience, particularly its ad-supported models, deeming it somewhat recession-proof. He raises concerns about the stock's high valuation despite strong performance.

• Dan Nathan ([07:00]): Emphasizes the difficulty in challenging Netflix’s valuation given its consistent performance and volume trends.

• Karen Feinerman ([07:48]): Advocates for holding Netflix stocks, noting its ability to continuously reinvent itself and maintain strong demand, especially in original content production.

Notable Quote: Karen Feinerman at ([09:17]): “[...] any streamer, any. Any creator of content, that's important. I like everything about it except the price. But I'm willing to live with it.”

c. Boeing’s 52-Week High and Production Momentum

Boeing's stock reached a 52-week high, driven by accelerated production, attractive fundamentals, and a compelling valuation. Shares have surged over 65% from April lows.

• Karen Feinerman ([11:09]): Praises Boeing's recent capital raise and execution on delivery targets, highlighting the positive impact on cash flow and balance sheet strength.

• Tim Seymour ([12:10]): Notes Boeing’s momentum, despite its historical challenges, and anticipates a potential cash flow flip in the second half of 2025.

• Dan Nathan ([13:10]): Projects Boeing’s stock could target previous highs, emphasizing the stock’s potential despite current market skepticism.

Notable Quote: Dan Nathan at ([13:34]): “The umpires would give him the benefit of the doubt because he was so great. So a ball a couple inches off the plate would be called a strike. Not unlike Karen.”

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2. Private Credit Opportunities

Drew McKnight, CEO of Fortress Investment Group, discusses the evolving landscape of private credit, highlighting its expanding definition and significant opportunity set.

• Guy Adami ([34:09]): Elaborates on the growth of private credit beyond traditional buyout financing, encompassing consumer finance, mortgage finance, and asset-based credit. He underscores the substantial $6 trillion opportunity in moving capital from regional banks to private credit avenues.

• Dan Nathan ([37:20]): Inquires about the impact of potential cracks in the bond market on private credit, to which Adami responds by emphasizing the conservative credit assessments and diversified risk management strategies employed in private credit portfolios.

• Karen Feinerman ([38:43]): Discusses the potential for increased IPO activity and the challenges private equity faces in matching liquidity prices with return projections.

Notable Quote: Guy Adami at ([35:11]): “I think the ability to achieve returns is what's most important. And that's where I think we feel, frankly, quite, quite strongly about the opportunity.”

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3. Additional Market Highlights

a. Constellation Energy’s 20-Year Nuclear Agreement

Sophie Karp of KeyBanc analyzes Constellation Energy’s strategic 20-year agreement to supply nuclear power, positioning the company as a key player in the evolving energy landscape.

• Sophie Karp ([14:39]): Posits that the deal likely includes a premium for zero-emission nuclear energy, enhancing Constellation's portfolio uniqueness and intrinsic value amid rising costs of new generation projects.

• Tim Seymour ([15:44]): Connects the agreement to broader energy demand trends and emphasizes the steady demand for power, reinforcing Constellation’s market positioning.

Notable Quote: Sophie Karp at ([16:14]): “The demand for power is rising, has been rising before the AI came to the scene.”

b. CrowdStrike’s After-Hours Drop Despite Earnings Beat

CrowdStrike shares fell more than 6% after hours following an earnings report that, while beating EPS estimates, fell slightly short on revenue guidance.

• Guy Adami ([25:28]): Breaks down CrowdStrike’s earnings, noting the EPS beat but addressing the revenue guidance miss as a potential catalyst for the stock dip.

• Tim Seymour ([26:50]): Expresses confidence in CrowdStrike’s long-term potential despite short-term volatility, highlighting the company’s significant market valuation and growth prospects.

Notable Quote: Dan Nathan at ([26:28]): “With that said, which would be a great t-shirt, that 450 level that we're trading at now, that's the prior high that we traded up to and failed at back in February.”

c. Dollar General’s Best Day Ever and Ford’s May Sales Surge

Dollar General experienced its best trading day, rising nearly 16% on earnings beats and optimistic full-year guidance. Ford saw a significant bump in May sales, prompting discussions on its ability to sustain growth.

• Tim Seymour ([44:17]): Applauds Dollar Tree’s steady growth and regression from higher cohorts, suggesting potential for sustained upside.

• Karen Feinerman ([45:32]): Analyzes consumer behavior shifts, noting higher-income customers trading down to discount retailers like Dollar General and Dollar Tree, possibly impacting sales trajectories of competitors like Walmart and Target.

Notable Quote: Karen Feinerman at ([45:15]): “Probably not Walmart. Probably Target. Right, right.”

d. Warner Brothers Shareholders Reject CEO Pay Package

Warner Brothers Discovery shareholders voted against CEO David Zaslav’s $52 million compensation package, marking a rare rebuke amid company challenges.

• Karen Feinerman ([30:25]): Critiques the excessive compensation relative to the company’s performance, contrasting it with leaders like Elon Musk who earn based on surpassing extraordinary goals.

• Tim Seymour ([31:16]): Connects the rejection to broader performance metrics, implying that continued underperformance may necessitate leadership changes.

Notable Quote: Karen Feinerman at ([30:25]): “It just seemed like an extraordinary amount of money... Why do the shareholders come last? I don't get that.”

e. Elon Musk's Critique of Congressional Spending Bill

Elon Musk publicly criticized the Congressional spending bill, labeling it a “disgusting abomination” and threatening to support primary challenges against Republican lawmakers who oppose his stance.

• Dan Nathan ([20:15]): Reflects on Musk’s remarks, contemplating the political ramifications and potential impact on his business ventures.

• Karen Feinerman ([22:22]): Discusses the broader implications of Musk’s influence and the intersection of his business interests with political dynamics.

Notable Quote: Dan Nathan at ([20:18]): “That sets up a political conundrum for... the White House, which is trying to get that bill over the hump in the Senate.”

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4. Real Estate and Home Equity Trends

Homeowners are increasingly tapping into their home equity, with data revealing $11.5 trillion in tappable equity being accessed for various needs.

• Diana Olek ([40:00]): Reports that homeowners have an average of $212,000 they can pull from their home equity, citing the highest Q1 volume of equity withdrawals in three years.

• Karen Feinerman ([42:35]): Connects increased home equity withdrawals to broader economic factors, such as lower interest rates on HELOCs and prolonged home residency leading to more home repairs.

• Dan Nathan ([43:10]): Raises concerns about the implications of homeowners having to tap into equity, questioning the sustainability and qualification criteria for HELOCs.

Notable Quote: Diana Olek at ([40:43]): “Lenders are definitely using lots of ways to get people in.”

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5. Conclusion

The episode of "Fast Money" provides a comprehensive analysis of significant stock movements, highlighting the robust performances of Nvidia, Netflix, and Boeing amidst varying market conditions. The panelists offer nuanced insights into the private credit market's growth potential and discuss strategic corporate actions shaping the energy and technology sectors. Additionally, the discussion on real estate equity trends underscores shifting consumer behaviors and financial strategies. With a blend of expert opinions and timely market analysis, listeners are equipped with actionable knowledge to navigate the complexities of current investment landscapes.

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Notable Quotes:

• Karen Feinerman ([06:38]): “We don't see any meaningful pickup in Copilot and that sort of thing. So sooner or later, you're going to get a bit of a digestion.”

• Karen Feinerman ([09:17]): “I like everything about it except the price. But I'm willing to live with it.”

• Dan Nathan ([13:34]): “Not unlike Karen.”

• Guy Adami ([35:11]): “I think the ability to achieve returns is what's most important. And that's where I think we feel, frankly, quite, quite strongly about the opportunity.”

• Karen Feinerman ([30:25]): “Why do the shareholders come last? I don't get that.”

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Final Thoughts:
This episode of "Fast Money" encapsulates a blend of high-profile stock analyses, strategic investment opportunities, and critical corporate developments. The panelists provide in-depth perspectives, balancing optimism with caution, thereby delivering valuable insights for both novice and seasoned investors.

Transcript

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[Melissa Lee]

Live from the NASDAQ Marketsite in the heart of New York City's Times Square, this is fast money. Here's what's on tap tonight. Three major moves catching our eye today. What's behind the action of these big names and should you be a buyer or seller at these levels? And a nuclear meta inking a 20 year agreement with Constellation Energy. What it means for the utility and what it says about the future of AI plus CrowdStrike drops from their all time highs after its latest earnings report. Dollar General posts its best day ever. And Ford gets a big bump in sales in May. Can the carmaker keep driving higher? I'm Melissa Lee, come to you live from studio. Be at the nasdaq. On the desk tonight, Tim Seymour, Karen Feinerman, Dan Nathan and Guy Adami. We start off with a tale of three stocks driving today's action. Boeing rising nearly a percent. Netflix dipping slightly into the right after hitting an all time high early in the sess. We start off with Nvidia surging almost 3% in a strong day for chip stocks. The chip maker also catching a bit on headlines out of Taiwan semis Investor Day with that CEO brushing off concerns over the impact of tariffs so far and saying that demand remains robust. Nvidia surpassing Microsoft to once again become the most valuable stock in the market with a total value of almost three and a half trillion dollars. It's the first time at the top since January 24th. But what do you do with the shares here? Buy or sell?

[Dan Nathan]

GUY well, you're familiar with that meatloaf, the single Mr. Loaf.

[Karen Feinerman]

Mr. Loaf out of three.

[Dan Nathan]

A real.

[Tim Seymour]

Do you have a real name on Meatloaf?

[Dan Nathan]

Not Jim Steinman. It was like mceny or something. I'm sorry, I apologize to you. Nvidia is out of the two. That's the third one that I've Obviously not gotten right. And here we are at 141, which is where we're trading after they reported earnings. An earnings report that we collectively said was very good, the margins were great, everything was alike. The stock actually sold off in a few days after got down to 134. And it felt like a sort of a replay of what we saw in January, but it's not. Now you have analysts sort of piling in. You start to take out that 153 level and given today's price action, it feels like it might happen.

[Melissa Lee]

And there's also a report, I think in the information yesterday that they are going to develop a new China chip basically that goes right up until the, you know, the limits in terms of exporting AI chips. The H30, I think 30. Excuse me.

[Karen Feinerman]

Yeah, and this happens obviously there's been a lot of back and forth and you know, we throw Nvidia in, that sort of final battle fought with us tech brands and Tesla, Apple right in there. They thought they got some sort of exclusions and then it's gone back and forth. And I think it's about as clear as mud what's going to be going on there. And you know, listen, again, I have no idea. I'm with Guy. Last week it felt like a lot of folks were really excited about the guidance that they gave the trip that Jensen Huang had gone on with Trump to the Middle East. And you know, we call that, what do we call it?

[Tim Seymour]

We call that Gen Sanity.

[Melissa Lee]

Oh my God.

[Dan Nathan]

Nice.

[Melissa Lee]

About that.

[Dan Nathan]

Yes.

[Karen Feinerman]

So we're not just about acronyms here, we're about nicknames.

[Tim Seymour]

We're doing a lot.

[Karen Feinerman]

No, I mean that is something that I think a lot of people look by some of the issues as it relates to China. You know, I'm still in the camp. I mean you can kind of look at a core even you say, look what's going on here. You can kind of look at Microsoft back towards those all time highs. Despite that, we don't see any meaningful pickup in, in Copilot and that sort of thing. We saw Azure kind of do better than expected. So I'm just in the camp that sooner or later, you know, I've been saying this for a year. You're going to get a bit of a digestion. But the one thing I just want to say here is that, you know, we talked about this, whether it was going to be from 153 or $200, these stocks can get cut in half and it happened in a very short period of time. So There are risks when you're buying into this where sentiment feels absolutely great. And that's one of the reasons why I think it's really important to keep touch or close to these data points. In Taiwan semi, which makes up almost 90% of Nvidia's high end GPUs. If you're hearing it from there, if you're hearing it from there, you're hearing the guidance, you're hearing a new channel, then I guess that's fine. I'm just not a buyer here. I wasn't a buyer. I should have been a buyer at 95. Everyone should have been a buyer at 95, but who knew?

[Tim Seymour]

Well, that was the digestion, right? And so I mean you said there will be, there will be a digestion again, I'm sure, but it's a trillion dollars since that, that low point. And what we got the other day from Nvidia was at least a handful of answers that were really important. We had a China answer, I think more broadly even not just on earnings. We've had some answer in terms of export restrictions. And also, you know, where in Video was really on the other side of the US government, Nvidia right now seems to be, you know, alongside the US government running around the world cutting sovereign deals. We're going to talk a lot more about Meta's deal with Constellation, but that's just another reaffirm, affirmation that the demand out there for a data center is alive and well and hasn't even altered at all. So I think Blackwell Supply some of the dynamics I think around just what's going on with their next wave of chips has now been answered. There's still some uncertainty, but why would we doubt in Video after they've delivered on everything else? But most importantly it gets back to valuation because this is a company that's trading 27, 28, 29 times 12 month forward with a NASDAQ that's at 25, 26 times. What would you rather own here? Would you rather own in video and its growth or the entire index, which people say is also expensive?

[Karen Feinerman]

Would, would you rather.

[Guy Adami]

Yeah, you do.

[Karen Feinerman]

But I do own a number of. Right, right. So I do own it. I think the demand story being intact was very much, I think the most important thing because if we see that, then we'll see the margin improvement as they're able to fulfill that demand. And we saw it again with Dell. Demand story is there. So I'm long. I do agree that this is susceptible to a change in sentiment. It's Also very susceptible to China US Relations, I think. Right. I think that's why it sold off a little bit after, even though that great report ran up so much into it. So I'm staying long. I do think we're still at the earliest stages of AI and so the demand will continue for a while. I know the stock will peak before demand peaks, but I don't know when that is.

[Melissa Lee]

All right, now let's get to Netflix. Shares had been up nearly a percent of their highs of the session, touching a new Intraday record. Jefferies raising its price target on the stock to 1400 bucks from 1200. Forecasting more growth tied to US price hikes and a robust content slate. Both shares up over 36% year to date. Is the stock running into some resistance here, Tim, what do you say?

[Tim Seymour]

Well, after running like a bat out of hell.

[Dan Nathan]

Oh, nice job.

[Tim Seymour]

I think we say it all the time here. We said for the last with Marvin Lee, a day that comes from Sandy Cannell. I didn't know Meatloaf's real name, even though I should. I think you're at a place here where that's the problem. The problem is nothing to do with the content release and guy watches all of these. I mean he's James and he's on the adolescence I remember was one of his big ones. But I think it really is very difficult to give Netflix a hard time, especially when you look at what they're doing with their ad supported models. It seemed to be somewhat recession proof. That may be seen international. It's about the valuation and I think, you know, at some point that really does matter for a company that probably no one dislikes and that might worry me as a trader.

[Dan Nathan]

Well, Tim, you took the words nice.

[Tim Seymour]

So good.

[Dan Nathan]

That is so good.

[Melissa Lee]

Really is good.

[Tim Seymour]

That really was good.

[Dan Nathan]

Again, you want to fight against that valuation. Well, people have been shooting against it for the last five years and it's their world. You're waiting for a day and say was not that day but a huge volume day new all time high and it closes on the lows now. You had that sort of today but traded half the amount of volume. It typically does wait for a day where it trades 15 or 20 million shares and reverses. We haven't seen that.

[Karen Feinerman]

Yeah. So going back the last 15 years, I feel like we've talked about this name an awful lot. Right. And there's been a few folks on this desk who've been buyers on every. All three of you, by the way. And our main man, Tom Rogers and You know, it was Netflix's game. Taking the words out of my mouth or your mouth. And everyone else has just been kind of, you know, thrown to the side. Right, but, but the problem that you have here is that, you know, every time you see a dip in the stock, you know, folks just say, continue to own it. And you know, sooner or later there will be something fundamental. We go back 15 years, 10 years or whatever. There were fundamental mishaps, right. People like used to sell the stock on price increases. Right. But it's proven to be recession proof. So at some point, might there be something that they kind of hit up against? Maybe. And listen, I think you just keep owning it. I don't think you buy it. And I would have said that, you know, a week ago, two weeks ago, two months ago. It's just a really hard name. Despite the fact they're a runaway winner, like very few runaway winners that we've seen in technology that have been able to keep that pace over the last kind of 10 years or so.

[Melissa Lee]

So what would be the bear case in your view?

[Karen Feinerman]

I guess very accelerated competition from others that really start. Which is not happening, Right? That would be a case. I mean, this company has managed to remake themselves over and over and over again. Successfully, successfully. And now, you know, doing much more live sports now. And so they just seem to be everywhere that you want to be ahead of everyone. El also their balance sheet ahead of everyone else. I also been thinking that, you know, with a lot of the stuff in terms of how would that affect content costs, I have to think they've got to go down dramatically. That's important for them and everybody, any streamer, any. Any creator of content, that's important. I like everything about it except the price. But I'm willing to live with it. It's so expensive, but it's worth it. I have sold calls against it and that has never been a good trade.

That's really interesting what you say about AI and content costs. That is going to be a battleground. That might be the sort of thing that causes some of this. A list talent that's been gravitating towards their original content to kind of go the other way. I mean, this is something that you keep hearing about in Hollywood, but we haven't really been faced with that sort of challenge. But my only point is it could go either way.

What do you mean? Where does that. Let's say that those people do it on their own. How do they get.

No, no, no. They go back to a more traditional platform like, like Think of Adam Sandler. He's doing this second like a revolt against. There could be and we've seen that before. What I'm saying is who knows if technology is going to be such a sea change for so many other industries and it's going to put a lot of pressure on a lot of things we haven't even figured out. That might be one of the most important points that one of most important challenges, I guess.

[Melissa Lee]

Let's move on to Boeing. You're hitting a 52 week high. Bernstein. Naming the stock its best idea in aerospace and defense. Thanks to accelerating production, attractive fundamentals and a compelling valuation, shares are up more than 65% from their April lows. Boeing is the B in carved. Yeah, it is the B in carved. Of course, Karen.

[Karen Feinerman]

Yes.

[Melissa Lee]

And so I like. You like the stock.

[Karen Feinerman]

I do like this stock. I did really, really love that giant capital raise. What.

[Tim Seymour]

I think whatever that is.

[Melissa Lee]

I thought it was the A. I thought it was A. I thought it was aerospace and Boeing was aerospace.

[Karen Feinerman]

No, A is Alibaba.

Come on, come on.

[Tim Seymour]

Yeah, yeah. She plays Harvard.

[Melissa Lee]

She went to Harvard.

[Karen Feinerman]

This one and the A. And Alibaba's throwing her for a little.

[Dan Nathan]

There it is. They put it back up.

[Karen Feinerman]

There we go. So I loved that capital raise, that giant capital raise when they did, you know what is $20 billion debt and equity. And then it's just about getting deliveries out the door. That is a cash flow story. You can't do it until you start getting deliveries. That's happening. I feel like there has really been a change here. And so we're early on. They also just did a divested Jepson. That's about ten and a half billion dollars. A little more help for the balance sheet there. So a lot of things just going now. It's just execute. That's it. Execute.

[Tim Seymour]

Well, this is also the being banned. I want to steal the being carved. But this is the be in band. And so look, I didn't really like Netflix. I like Netflix and I love Boeing. So guy, two out of three ain't bad. Right?

[Dan Nathan]

Right back.

[Tim Seymour]

We'll take that. And I love Boeing and it's interesting how they call it a momentum stock because that's not what you usually hear about Boeing. And if anything, you have had momentum. I also find it interesting to refer to it in terms of an attractive valuation. This is a company that doesn't make money, hasn't made money. But I know where they're going with this and it's going to happen quickly. The cash Flow flip is going to happen in 2H25. That 735, 737 ramp. Excuse me, we absolutely have demand. Exceeding what they can do on production well into the 2030s is kind of their call. This is a stock that, that really could actually be a safe pair of hands for a lot of people. So I think it's under owned. I think the analyst community is just coming around and we probably need a little more follow through on cash flow. But no one's expecting any. That's great news.

[Melissa Lee]

It's momentum since April. Certainly it's up more than 60% from the lows there.

[Dan Nathan]

It's got more room. There are crack staff and EC. If you go back to February of 2019, the stock was making an all time high north of 450. That was the first point of a downtrend line that is about to be broken to the upside, which theoretically should get us to the highs we saw a year and a half or so ago, which is 260. So I still think that's in the crosshairs. And if I may for a second, are you familiar with Greg Maddox? Just say yes.

[Melissa Lee]

Sure.

[Dan Nathan]

The umpires would give him the benefit of the doubt because he was so great. So a ball a couple inches off the plate would be called a strike. Not unlike Karen. Could we put the carbs back up? The R in carbs is Uri. I mean, come on.

[Karen Feinerman]

Rentals.

[Dan Nathan]

I mean, come on. That's.

[Melissa Lee]

Anyway. Enough, enough. Let's get to Constellation Energy here, finishing in the red after being up more than 9% at the highs of the day. The company is securing a 20 year agreement to supply matter with 1.1 gigawatts of nuclear power starting in 2027. Names like Vistra, Talent, Energy, Nextera also getting a boost from the news. For more on what this means for the nuclear energy landscape, let's bring in KeyBanc managing director and senior analyst Sophie Karp. She has an overweight rating at A$337 price target on Constellation. Sophie, welcome to. Good to see you.

[Sophie Karp]

Good to see you. Thank you for having me.

[Melissa Lee]

It seems, at least to me, that maybe the deal is a little bit opaque in that we are not really sure if they're getting a premium in this deal in terms of price per megawatt hour from Metta.

[Sophie Karp]

Yeah, we don't know the details of the deal in terms of the price that's being paid and I think that's becoming increasingly common for players in the power space to not disclose such details. For competitive reasons I do believe they get in the premium versus the market price considering that the press release states the matter is paying for the environmental attributes such as a zero emission nuclear energy. And usually there wouldn't be any reason to really do a deal at without a premium. Right. You can always hedge at the power curve if it wasn't the case. So we like the deal. I think what we've seen in the market is a little bit of a profit taken. The deal was somewhat anticipated another deal this year. So that's what we're seeing. I think just the fact that the deal came through pretty much pretty early in the year just reinforces the thesis that Constellation is really well positioned to monetize its fleet. It is unique. It's getting more valuable intrinsically by the day because it's getting more expensive to build new generation in this country. And we really like this is here. We think the Constellation will continue to do well.

[Tim Seymour]

Sophie, it's Tim. Thanks for joining us. Deep Sea really knocked a handful of the utility, the power utility, the energy data center plays. This may be more than any other than Vistra but before all that people look I'm long the stock and very excited about that Calpine deal and again you combine maybe the best nuclear play at least in terms of scale. You combine the gas assets. I mean talk about this as a utility, leave all the AI hype aside and talk about this name from those perspectives.

[Sophie Karp]

Absolutely right. And the demand for power is is rising, has been rising before the AI came to the scene. Right. And Deep Seq really did not put any dent into the CapEx budgets for AI data centers. As an aside. Right. In that we have seen so far and the companies now space has signaled no slowdown in demand on the inbound interests that they're seeing from large load customers. But the demand for power is definitely rising regardless. And the fact that Constellation has been able to assemble this portfolio of baseload assets such as nuclear and load following and picking assets from Constellation positioned in growing markets in attractive markets that makes this company very valuable. And like I said, it's getting more and more difficult to build a new generation in this country. So whoever owns the existing portfolio of these assets, they're intrinsically increasing in value. It takes seven years to get a gas turbine right now. You cannot just build a gas plant tomorrow. The repeal of the IRA that's kind of ongoing in Congress that's going to make it more expensive to build renewable generation. That has been actually the majority of the additions recently. So as it becomes new nuclear, that's years away. Right. The SMRs, something like that. There's something is years away. Potentially we're looking at the next decade when those are going to be at scale. So in the meantime there really is very limited new generation coming online. So when you see Constellation and have this ability to do a little bit of upgrades, increase the capacity of the existing plants, they've assembled this great portfolio of assets that can address different pockets of market demand. They have a retail book to match that. This is a company that we like.

[Melissa Lee]

Sophie, thanks so much for joining us. Appreciate your insights. Sophie Karp of KeyBank Uranium stocks also got a bid today on the back of this deal and what was interesting in terms of noting where the valuation is on Constellation, it is approximately the same on a forward basis as meta.

[Dan Nathan]

Not expensive. But look at the price action today. I mean again if you think and Tim is right on this, we think it's a secular story. You just want to be long the space. I totally get it. But you look at a day like today, we traded up to the prior high, we opened on the highs today, 342ish, closed on the lows on about three times normal volume. So you might have put in a short term double top. Doesn't mean this trade is over by any stretch of the imagination. But the formation is a little scary.

[Karen Feinerman]

You know, it's interesting if you overlay CG with Metta, they look like the same chart. Right. And so I go back to the fall, I think it was Satya Nadella talking in a podcast that he's no longer constrained as it relates to access to chips, but their power constraints. So if you talk about where the digest in period come, we don't see a bunch of use cases materialize as we get into the back half of the year. Or you know, we might see that digestion phase as far as compute and the need for it and then it comes back to power. How much access. You could also see overcapacity in the power space. Right. If you don't see things materialize. So I guess I'd rather be long let's say a Metta than a cig right here.

[Melissa Lee]

Except in the capacity be picked up by just increasing use of power in general by yes, but our government, I.

[Tim Seymour]

Mean isn't this government making it clear that power is one of their biggest priorities? And I think they're right.

[Karen Feinerman]

I'd rather though have asset light than asset heavy which is meta asset light.

[Melissa Lee]

Right. Okay. Meantime, Elon Musk sounding off on the Congressional spending bill in a series of posts on X calling it a, quote, disgusting abomination. Eamon Javier has got the details on this. Amen.

[Dan Nathan]

Yeah, Melissa, if that wasn't bad enough for the White House, disgusting abomination is pretty tough. But then he followed it up with another tweet in which he effectively threatened to primary Republican members on the Hill who don't vote the way he wants. Here's what he said in the tweet that he put up. He said, in November next year, we fire all politicians who betrayed the American people. Now, that post on X was a response to a user on X who was complaining about Republicans on Capitol Hill and the way they've conducted themselves and the way they've prioritized things in the budgeting process.

[Guy Adami]

Musk there threatening to fire politicians who.

[Dan Nathan]

Don'T vote the way he wants.

[Guy Adami]

That sets up a political conundrum for.

[Dan Nathan]

This White House, which is trying to get that bill over the hump in the Senate. Russ Vogt, the Office of Management and Budget Director, was out here on the White House driveway just a short time ago talking to reporters, and he explained the pitch that he's making to Elon Musk and others. Here's what he said.

[Karen Feinerman]

We think the bill is a very good one.

We think it's very strong fiscally.

Nothing's changed from our view of the world. We understand where he's coming from.

[Guy Adami]

But if you have an accurate baseline.

[Dan Nathan]

That treats taxes the same way it.

[Karen Feinerman]

Treats spending, this budget is $1.6 trillion in mandatory savings.

[Dan Nathan]

Now, I asked Russ Vote if he had made that case to Elon Musk specifically, and he said, look, I'm making this case to everyone. He also rejected the premise that he needs to do a lot of cajoling to get this bill across the finish line in the Senate. They are saying here at the White.

[Guy Adami]

House that they feel confident that they're.

[Dan Nathan]

Going to get the bill done, despite what Elon Musk just did here this afternoon.

[Melissa Lee]

All right, Eamon, thank you. Eamon Javers. It's amazing what a few days will do. I mean, it was just at the beginning of the week, he was in the Oval Office standing right next to Donald Trump, and here he is calling the big, beautiful bill an abomination.

[Dan Nathan]

Oh, go ahead. I was just going to say real quick, he's not necessarily wrong. So love him or hate him, I mean, I think he's on point with this.

[Tim Seymour]

I mean, and this is totally consistent with what he was there to do. A lot of people didn't really like the approach. But a lot of people were very much in favor of cutting spending and cutting a bunch of groups within the government that really weren't doing anything.

[Karen Feinerman]

Yeah, I guess the broader issue is like, okay, it's one thing for the president to threaten his own party to, you know, to primary folks. I mean, the fact that you have these kind of dueling forces, it is a little difficult for our democracy when you think about that. And, you know, this is the richest man in the world who has, you know, amazing, amazing levers to pull. If you think of the platform, he owns, the space and all that sort of X AI which is growing tremendously. Starlink, I mean, list goes on and on. It's like take every Bond villain of the last 50 years, mash it together, and this is what you got. And you think I'm being like hyperbolic. I'm not. At least the way the broccoli's think.

[Melissa Lee]

Of it, you actually had an interesting take in terms of the impact on his business. He could be winning back some more fans.

[Karen Feinerman]

I'm wondering if you're a Tesla shareholder, are you happy with these set of tweets or are you not? Clearly, when he went the other way, it had a noticeable impact on his business. He did, however, say, I'm getting out of the politics game. Sort of something to that effect. Not exactly. This is sort of getting back into the politics game a little bit. But I don't know, it's interesting.

[Melissa Lee]

Coming up, we are watching CrowdStrike after hours shares on the move after reporting results. The details in the numbers in the quarter and how our traders are handling the cybersecurity name. That's next. Plus, a symbolic vote at Warner Brothers shareholders rejecting CEO David Zaslav's pay package. What it means and what precedent it could set. Don't go anywhere. Fast money's back in two. This episode is brought to you by Square.

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[Melissa Lee]

Welcome back to Fast Money. Shares of Crowdstrike dropping after hours despite an earnings beat. The move coming after the stock closed a regular session at a record the conference call underway. Cnbc. Steve Kobach has got the very latest. Steve?

[Guy Adami]

Yeah, we see shares off six and a half or so percent here after hours. Mel, look, here's what we got here. EPS was coming in at 73 cents, adjusted. That was a beat by about 8 cents. Revenue directly in line at $1.1 billion. As for Q2 revenue, that guidance was a tad light. 1.14 to 1.15 billion. Street wanted to see 1.16 billion. That could explain a little bit of the dip we're seeing. They also announced a $1 billion buyback in this press release here. CEO George Court Kurtz highlighting annual recurring revenue of $4.44 billion. That's up 22% and he says it's making progress towards their $10 billion goal. Stock has of course been on a huge run, up more than 40% on the year. Most of those gains in just the last two months. Now, we're not seeing a ton of negatives in this report, perhaps a little selling of the news because crowdstrike didn't exactly demolish expectations. And like you said, the call just started. So if we hear anything new about this quarter, I'll come back if anything comes out of it now.

[Melissa Lee]

All right. Steve, thanks. Steve Kovac down 6.8% right now.

[Dan Nathan]

Guy, when you trade north of 100 times next year's numbers, you have to crush in order for this to continue. With that said, which would be a great t shirt, that 450 level that we're trading at now, that's the prior high that we traded up to and failed at back in February. So this should actually be the first level of support. There's nothing not to like here, here other than the valuation.

[Tim Seymour]

Yeah, I like it a lot. And I think it was impossible to after a 63% move in six weeks, this is a stock that was up 40%. I also just think that the, the software and certainly the security side of the software space has been moving just after the semis get going again. So I think there's more to this trade. I think you let this one wait, but I don't think you're going to get a big opportunity.

[Melissa Lee]

All right. There's a lot more fast money to come. Here is coming up next, auto adjustments.

[Guy Adami]

How Ford is steering through tariff challenges and whether last month's sales surge can.

[Melissa Lee]

Keep driving the stock.

[Karen Feinerman]

Plus, the latest read from the private.

[Guy Adami]

Credit market where one top investor is seeing opportunity now and how he sees the high net worth market shaping up.

[Karen Feinerman]

You're watching Fast MONEY live from the NASDAQ market site in Times Square. We're back right after this.

[Melissa Lee]

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Yeah.

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[Melissa Lee]

Ask their doctor today about HPV vaccination brought to you by Merck. Welcome back to Fast money. A rare vote against a CEO pay package coming in just the last hour. Warner Brothers Discovery shareholders rejecting David Zaslav's nearly $52 million compensation plan with more than 59% voicing their opposition. The vote is non binding, but WBD shares are more than 20% off their 52 week high. The company facing major headwinds in its cable business and S and P Global recently downgrading its debt to junk. We were chatting about this before the show. How unusual it is to get such turnout for any kind of shareholder vote, let alone such a sound rejection of a comp package which is normally rubber stamped. I mean for the most part, normal.

[Dan Nathan]

Yes. And the only reason we're doing this is because. Exactly that point. But look at this stock over the last couple of years. I mean it's trading nine and a half dollars now and we're at levels we haven't seen I think since 2007 or so. So it's hard to just in my opinion, that type of compensation for performance of a company that hasn't performed, it's not unlike sports. If you don't perform, you're not going to get resigned, you're certainly not going to make 51 1/2 million dollars.

[Karen Feinerman]

It just seemed like an extraordinary amount of money. Now granted it's in an industry that's really facing headwinds, but that shouldn't be the shareholders problem that they should have to pay, you know, an excessive amount. Can you imagine how much they would have paid him had it really worked? I can't even fathom when I hear about Elon Musk's pay package. I think he was worth it. He put out these extraordinary goals and met them. And he met them. Okay, so maybe they didn't do it as they should have, but then they. I think he deserves that money. This to me is a very different situation. Why do the shareholders come last? I don't get that.

[Melissa Lee]

Right. And it's not only just this year pay package, it's the past years of pay package of extraordinary pay for a stock that has been lagging its peers.

[Dan Nathan]

Yeah.

[Karen Feinerman]

One thing is worth noting. A couple of months ago I think it was, they added a few board members. One of them was Anthony Noto, another one was Anton Levy. These guys are kind of heavy hitters, a little bit. Fazel Merchant who works at a company called Wiz that just got bought for $32 billion from Google. So they're beefing up the board here and I think that's something that it's notable. And then if you kind of scale back some of the compensation, that is investor stuff, but it could be interesting.

[Tim Seymour]

Well, speaking of sports and Speaking of performance, they just lost the NBA. You know, I mean, this is, this is a huge, huge move for these guys. And you know, to the extent that this was something that was really, by the way, TNT's done an incredible job on, on the NBA playoffs. And that's something that I think people are watching this and thinking, what's going to happen to these guys next year?

[Melissa Lee]

Yeah, we did note, but just to underscore this, it's non binding. So this vote is a symbolic gesture. So what kind of pressure is the board under at this point?

[Karen Feinerman]

Tremendous, I would think. Right. I don't know how those two new members would vote, but you got to think your shareholders are telling you something loud and clear. It would be, I mean, okay, ignore them, I suppose, but maybe you'll have a lot, you know, A big exodus.

[Melissa Lee]

Coming up looking to avoid volatility in the stock market. How one firm is giving investors another alternative and where they are seeing the most opportunity when Fast Money returns. Missed a moment of fast.

[Tim Seymour]

Catch us anytime on the Go Follow.

[Karen Feinerman]

The Fast Money podcast. We're back right after this.

[Melissa Lee]

Welcome back to FAST money. Stocks extending their gains today. The Dow jumping more than 200 points now up four days in a row. The S and P up half a percent. And the tech heavy NASDAQ leading the gains up 8.10of a percent. Those two indices posting their highest close since February. Shares of Hims and hers more than erasing an early surge. The company announcing it will acquire European telehealth platform Zava as it looks to expand globally. The stock up more than 18% at its highs. It's still up nearly 130% this year. Shares of Robinhood jumping another 6% today, posting its highest ever close. That stock up nearly 90% over just the past two months. And some more after hours action. Hewlett Packard Enterprise and software company Asana beating top and bottom line expectations. Shares a a forward higher after reporting a third consecutive month of double digit US Sales growth in May. Demand fueled by its ongoing employee pricing program. And Wells Fargo higher after hours. The Federal Reserve lifting asset cap restrictions that stem from a 2019, 2018 that long ago enforcement action against the bank after its fake account scandal. This is long in coming. This was expected in terms of Wells Fargo and the asset cap. But here it is and the stock is up.

[Tim Seymour]

I think it's big news. I think it's stock that especially you drop that into the context of deregulation in the banking sector and you know, let's think about the cyclicality of banks what they have but also a yield curve that's been getting steeper. But I think Wells Fargo really since 2018 has had certainly a ball and chain around it. This is a very big deal. Some analysts said that this cost them, this, this cap cost them almost $40 billion in earnings over the last or whatever that is that seven years or so. So I think it's a big deal. I actually think you can stay long.

[Dan Nathan]

Stock is trading around an all time high. So it is a big deal. Maybe that's one of the reasons. I'll tell you, you, I will play the game that Tim played earlier.

[Melissa Lee]

Many games you played the game.

[Tim Seymour]

You like to play them by yourself.

[Dan Nathan]

I do, Tim, actually I do rather.

[Tim Seymour]

Sorry.

[Dan Nathan]

A city over. Wells Fargo Melbourne.

[Melissa Lee]

All right. High net worth investors and now retail investors flocking to private credit as they look to diversify their portfolios. For more on the demand and themes to watch now, Fortress Investment Group Co CEO Drew McKnight joins us here on set. Drew, welcome back to Fast.

[Guy Adami]

Great, thanks.

[Melissa Lee]

Where are the pockets of opportunity for you now as this, you know, this demand for it has sort of gone inning by inning by. I don't know where we are. You can answer that in terms of demand.

[Guy Adami]

That's a good question. Look, I think the way people define private credit I think is evolving and I think the private credit pie is growing initially. Private credit really came about post GFC filling the void of the shadow banking system that we, that, that folks talked about a lot. And that initially started primarily in LBOs and buyout financing. I think private credit as a definition has grown immensely. And I think when you define it more broadly and you start to capture consumer finance, mortgage finance, asset based credit, the denominator is just a lot bigger than the way people have traditionally defined it. And so while I think we're, we're cautious on some of the buyout financing because I think that has gotten quite competitive. I think when you look at asset based credit and some of the frankly larger asset classes, the growth there I believe is just getting started and is actually very early.

[Melissa Lee]

And to that end, I mean you're pointing out to our producers that the disintermediation of regional banks in particular, I mean they've got a lot of commercial real estate on their balance sheets and that's an opportunity for you to step in.

[Guy Adami]

That's right. And again, I think you've seen it really, it got exacerbated post the Silicon Valley bank, Signature Bank, First Republic in 2023. It took a little while for that to digest. But I think when you look at banks, you look at their balance sheets, you look at the duration of their portfolios where everything in real estate has extended duration just because of interest rates. And that has caused banks to pull back. You couple that with what they saw in 2023, which was deposit flight and a run on the banks, and I think that caused all of them to reassess their liquidity and think about what they can allocate capital to. Asset based credit, which I touched on and is an area of growth not just for us, but for a host of folks. We've done 7 billion of originations in asset based credit since the fall of 2023. And we're really just scratching the surface. People talk about whether there's a bubble in private credit. You talk about the opportunity set. We believe it's like a $6 trillion opportunity set. So yes, it's growing. But, but the amount of capital that does need to move from the small and regional banking system into private credit is frankly immense. And so the formation of capital I think is important. I think the other thing to think about is can you actually achieve the returns? And that's something that I think we're seeing. You talk about private wealth and you think about traditionally a portfolio that was 60, 40 stocks and bonds and obviously the world's slowly evolving. But I think about my mom's portfolio and what would I be comfortable with her having. You look at what private credit has delivered over a cycle, over interest rate volatility, over stock market volatility, and you're achieving high single digits to low double digits with very low volatility. And I would much rather my mom have a portfolio of some of that mixed in with a stock and bond portfolio. And so I think ultimately the ability to achieve returns is what's most important. And that's where I think we feel frankly quite, quite strongly about the opportunity.

[Dan Nathan]

So on Friday, Jamie Dimon said there's going to be a crack in the bond market. I'm telling you it's going to happen. It's going to happen. I mean it's pretty adamant about that. What does that mean for your world?

[Guy Adami]

It's a great question. And I think obviously the markets are telling us globally that, that this is front and center. I think what we take some comfort in in the asset based credit world is you've got floating rate interest rate risk, you've got floors in your sofr. So you've actually got your. If interest rates collapse, you've got floors built in. If interest rates are higher, you float. And with the structures that we're seeing, even with the demand, we're running scenarios at loss curves at 2 and 3x what the global financial crisis is. So you're fairly conservative in terms of credit assessment. And so frankly from our perspective, we feel like it's actually a place to hide side where you can earn those high single digits, low double digit returns on a net basis in a somewhat insulated world versus the volatility in the stock market and the ball and the risk in the bond market.

[Karen Feinerman]

So we know private equity has been slow and one of the things that's how to slow that caused the slowdown is the IPO market being closed. But that's sort of starting to change, right? There's a number of high profile deals. We've had a few. Do you think is there enough of that to sort of get the the wheels are rolling again in the ecosystem?

[Guy Adami]

We're hopeful. I do think it's early. I think the IPO markets are open. I think the real issue for private equity isn't that the IPO markets aren't open. It's the price that private equity wants to sell their companies isn't necessarily at the market clearing price. I think if you had Jamie Dimon, David Solomon in here, they would tell you the IPO markets are wide open if you come to market at the right price. I think the issue right now is a lot of private equity that was bought in 2020, 2021 was bought at high multiples with low interest rates. And I think the real issue is the price of liquidity or the price of the go public doesn't match what they're projecting for their returns.

[Melissa Lee]

Drew, great to have you.

[Guy Adami]

Thanks so much, Jackson.

[Melissa Lee]

Drew McKnight, Fortress. Coming up, make a house, a home or turned it into cash. The record amount of equity owners homeowners are sitting on and why they're tapping into it right now. That is next. Plus Dollar General notching its best day ever. On the back of its results this morning, what they're saying about the impact of tariffs and how they're finding opportunity with higher income customers. We got the details on Fast Money returns. Welcome back to fast money. Homeowners are sitting on an eye popping $11.5 trillion of tappable equity and data shows they are starting to cash in on that in a big way. CNBC's Diana Olek joins us now for more on these recent trends. Diana? Well, Melissa, the steep run up in home prices over the last five years means roughly 48 million homeowners are sitting on that record amount of collective cash. In total $17.6 trillion, according to new data from ICE Mortgage Technology. That's the full amount of home equity. But as you said, they can tap about 11.5 trillion of that while still leaving enough to make lenders happy. The average individual homeowner can pull out about $212,000 each. Not bad. In recent years, though, homeowners have been reluctant to take equity out. They of course still remember the great housing crash well over a decade ago. But that's now changing. In the first quarter of this year, all home equity withdrawals, including home equity lines of credit and cash out refis, totaled $45 billion. That is the highest Q1 volume in three years. Now, if we're just looking at those second lien home equity lines, the HELOC withdrawals, they made up $25 billion. That is the largest volume in 17 years. Demand has increased mostly because interest rates on HELOCs have fallen to the lowest level in three years and could dip even lower by next year. Also, people are just staying in their homes longer, which means more repairs, which of course is one of the top uses of home equity. Equity out. Equity back in. Melissa. Diana, what have you noticed in terms of fees? Because I've seen a couple banks advertisements, no closing costs for HELOC if you deposit X amount into, into an account. Basically a way to increase accounts there. Yeah, they're definitely getting more creative. Why? Because mortgage lenders need business. We've seen mortgage applications fall dramatically in the last year as interest rates rose. That's for, you know, regular refinance applications or for just purchase applications because the spring home selling market has been so bad. So lenders are, where can I get some business? Maybe get it in the HELOC market because there is so much equity there. So they are definitely using lots of ways to get people in. All right, Diana, thank you. Diana Olek, what do you think this says about the consumer and the need for cash right now?

[Tim Seymour]

Well, I'll let guy who talks about this stretch consumer. I'll just say this says people are going down to Home Depot. I mean this says that actually the, the DIY which was actually lagging in the last, in these last first quarter numbers. But overall the numbers were fine or decent because Pro continues to be both margin and a place where they're outperforming lows. So I like Home Depot on the, even the medium term here, even though it snapped back nicely.

[Karen Feinerman]

Agree, agree with everything Tim just said. I think Home Depot, Lowe's, all of them. There's another one, qxo. We never talk about that. It's a roll up that I think is really interesting one. We can talk about another day.

Yeah, guy. To use an expression, you like to use cash on the sideline. It just seems like that's my favorite. There's a lot, I mean it's more we, you use it generally for the stock, stock market. You see those balances. But this is obviously a tailwind for the economy especially as you think about interest rates coming down or taxes coming down.

[Melissa Lee]

Where does that fall in relationship to more buyers and sellers or more sellers and buyers?

[Dan Nathan]

Yeah, that's a good one.

[Melissa Lee]

That's up there.

[Dan Nathan]

To stock the Parthenon pantheon. I'll say this, you know, it could be a good thing tapping into it because they can or the flip side is because they have to. I'm more of they have to camp, which I don't think is particularly encouraged emerging.

[Melissa Lee]

If they have to though, how can they qualify for heloc?

[Dan Nathan]

Well, that's entirely different. I think, I mean that, listen, you could have pretty good credit scores and still be in a situation where, you know, you see what's coming down the pike and you have to have to move.

[Tim Seymour]

Some of these people already have those, those programs already lined up. I mean people, if you're smart out there, you've actually, you've at least taken down some kind of a HELOC program that you don't start paying for until you draw on it. So I think there are people that have that powder dry and it's probably a good place to be.

[Melissa Lee]

Yep. Coming up, Dollar General surging on the back of results and dollar trees report is on deck. What our traders see in store for the discount trade when Fast Money returns back into. Welcome back to Fast Money. Dollar General topping the tape today gaining almost 16% for its best day ever. The discount retailer hiking its full year guidance after an earnings beat and saying it is attracting more higher income customers amid tariff fears. Meanwhile, Dollar Tree jumping 6%. That company reports earnings before the bell tomorrow. Very interesting commentary. Similar to what we heard from Wal Mart in terms of the trade down happening for the upper income consumer.

[Tim Seymour]

I like the tree. The tree's been slowly building a base here. What do they say about the base?

[Dan Nathan]

Bigger the base, the higher in outer space.

[Tim Seymour]

Right. And that's, that's where we've been on this one. We've gotten good news out of China. Remember they were the first ones to sell off on the lower cohort. I'm talking 18 months ago in the economic cycle. I think this is interesting.

[Melissa Lee]

The General Dollar General. No, the other General General. Only 10% of its merchandise is impacted by tariffs.

[Dan Nathan]

So if you recall, and I know you do because you write notes, copious ones by the way Carter Braxton Worth had a note and we talked about it on this show when Wal Mart said what they said and then the administration came after him, we said, you know who's going to win here Dollar General and you have a bearish to bullish reversal. I still think there's room 125 is where we dropped from in August. That's where we're going to I think.

[Melissa Lee]

What are they trading down from though, is what I wonder.

[Karen Feinerman]

And from Target maybe try to think where is the market share coming from?

[Melissa Lee]

Higher income consumers trading down, where are they not spending that money?

[Karen Feinerman]

Probably not Wal Mart. Probably Target. Right, right. And so I mean they're much cheaper, much cheaper than Wal Mart if you look at the multiples, more expensive than Target. But the trajectory seems much better for these two than Target.

It's kind of different inventory. I mean there's a chance that it's just like that lower end consumer has more money and they're spending more. I mean like I just don't see like you know when you go into Walmart, you know what Walmart, take it to the bank, the staples are there, you know what's going on. Trading down to a dollar tree or a dollar General. I mean if you've been in them.

[Melissa Lee]

You realize that it's like a treasure hunt.

[Karen Feinerman]

Yeah, I mean that's it.

[Tim Seymour]

I mean go in there with five bucks and hand it to your kid and it's a great day. I mean that's well spent.

[Melissa Lee]

$5, that's right.

[Tim Seymour]

You're a hero.

[Melissa Lee]

Speak from firsthand experience. All right, up next, final trades, final trade time. Tim.

[Tim Seymour]

So we have a huge birthday shout out to Brian Tebow from Virginia Beach Beach, Virginia from his wife Susan, huge fast money fan. Oh and by the way, bong tonight Karen.

[Karen Feinerman]

Yes. Also to Brian. Happy birthday. Well Fargo, this is good news on the essay cap. I like it.

[Melissa Lee]

Dan.

[Karen Feinerman]

Yeah, Happy birthday Max Meyers.

[Melissa Lee]

Yeah.

[Karen Feinerman]

Max. Tim, you said Nike way too cheap the other night.

[Tim Seymour]

Yeah, it is.

[Karen Feinerman]

It's looking pretty good.

[Dan Nathan]

Well that was nice of Susan to reach out on behalf of Susan went.

[Tim Seymour]

Out of her way to let us know.

[Melissa Lee]

Happy birthday.

[Dan Nathan]

Birthday Brian in Virginia Beach. Yes, we're looking forward to seeing him. We'll see him the next time.

[Tim Seymour]

We'll see him whenever they want to come.

[Dan Nathan]

Yep, let her see Mel.

[Melissa Lee]

All right. Thank you for watching Fast Happy Birthday, Brian and Max Mad Money starts right now. All opinions expressed by the Fast Money participants are solely their opinions and do not reflect the opinions of CNBC, NBCUniversal, their parent company or affiliates, and may have been previously disseminated by them on television, radio, Internet, or another medium. You should not treat any opinion expressed on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of an opinion. Such opinions are based upon information the Fast Money participants consider reliable, but neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. To view the full Fast Money disclaimer, please visit cnbc.com fastmoneydisclaimer Parents of tweens.

[Guy Adami]

If you're familiar with far off drop offs, dad, stop.

[Dan Nathan]

Stop.

[Guy Adami]

Stop right here or get DMs about what's for dinner. You may be experiencing tween milestones for your son or daughter. These can start at age 9. HPV vaccination, a type of cancer prevention against certain HPV related cancers, can start then too.

[Melissa Lee]

For most, HPV clears on its own, but for those who don't clear the.

[Guy Adami]

Virus, it can cause certain cancers later in life. Embrace this phase, help protect them in the next.

[Melissa Lee]

Ask their doctor today about HPV vaccination brought to you by Merck.