a very strong quarter, raised the full-year guidance, but that full-year revenue guidance still coming in shy of consensus estimates, really kind of speaking to, especially with the a.i. companies, how investors are thinking about the opportunities there. >> some skepticism. that's going to do it for us here at "overtime." >> “fast money” starts now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. dazed and confused. what's next, where earnings are going and the true health of the economy. where will this market turn for direction? we'll debate that. plus, howard shuchultz callg for an overhaul at the coffee chain he ran three times what he thinks his successor needs to do to get starbucks back on track. plus, tyson investors crying foul after earnings this

morning. and a betting bonanza on the kentucky derby. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- bonawyn eison, steve grasso here in new york, dan nathan and guy adami live from los angeles. we start off with the interest rate tug of war. ten-year yields down again today. they've dropped 25 basis points from recent highs hit just two weeks ago. they are now at their lowest levels in almost a month. the move comes amid renewed hope of fed rate cuts this year. chances of at least one cut have risen after the fed meeting and friday's softer than expected jobs report. markets pricing in a nearly 90% chance of a move by december. rate sensitive areas seem to be applauding the action today. the small cap russell 2,000 and the tech heavy nasdaq leading higher, but is this move in rates warranted? will we actually see them go higher eventually? steve, what is your take? >> i don't know if they're going to go higher. we're in this period where everyone is very nervous, right, it's about earnings, it's about

the fed. but when you see a number like that, that's what makes everyone say, oh, okay, maybe he's not going to keep rates this -- at this level for a longer time, and maybe we're going to have a bumpy landing. so, is the economy going to be good or is the fed going to be hawkish or is it going to be both? that's what we're dealing with right now. i think at this point, we have enough in the tank to get us a little bit higher, but i'm still holding on for my 200-day test. >> interesting. so, are you still betting that we're going to have three? >> still betting we're going to have three. >> okay. i think -- no, no. i'm not mocking him. >> i feel better today than i did before friday. yeah. >> go ahead, bonawyn. >> we're celebrating one, and i just want to know if three is still on deck. and i think that really speaks to what's going on in the market right now. you've seen the oscillation -- last week, we were talking about, how far will this market fall, right? and that was because, listen, you're getting, you know, you're getting macro economic data that

on one hand is telling you that the fed needs to continue to fight inflation. i understand that's front and center, that's one half of the mandate. on the other half, you get one singular jobs report. and we've had downward trending inflation, deceleration, for the better part of two years, and every time we get ahead of ourselves, the fed says, we still need to see continued momentum towards our target policy rate. and i don't think anything has changed. now, we can sit here, we can part and parcel what we think is going to happen from one week to next, but i absolutely think this singular data point does absolutely nothing for the fed. not a thing. i -- listen, i think that -- if anything, it gives you, you know, a modicum of hope, because you're not seeing a 300 k, you know, jobs number, and i think it shows, you know, to people that are expecting rate cuts that there is perhaps some weakness, but again, one, this number might end up being revised. and what happens if next reading we say, well, there's 280 jobs

that have been hired. and we're seeing a reacceleration of, you know, wage pressures, because we have seen the pull-back in inflation on the good side, but until we see that stickiness in services start to dissipate, i really don't understand structurally how you getback to that base rate without continuing to at least keep things in a tighter economic monetary policy. >> that's a great point in terms of revisions. because they have been notable when it comes to the jobs report. we got a cpi report next week. one single data point that shows inflation is continuing its downward trajectory, guy, won't be -- i mean, that's not going to re-establish the trend. plus, we have issuance from the treasury department. >> yeah, hi, melms, by the way, great to be out here sitting next to the great dan nathan. but i don't think it's about the fed at this point. i think it's about other factors, and the issue answer, to me, that's one of the biggest, if not the biggest factor, without question. that coupled with the fact, we started the show with a tug of

war. it makes sense, because on one side, you have economic activity that is clearly slowing, you know, that manifested in the latest job number and the gdp report. on the flip side, inflation is clearly still a problem and, oh, by the way, japan is in the midst of a bit of a currency crisis, if you look at the last week and a half. and they've been the buyer of sort of last resort, and the issuances are going to be out, you know, people will buy our debt, they are going to do it at a higher rate. i'm surprised rates came down as quickly as they have from 4.75 to 4.5. but i'll remain in the higher camp for the foreseeable future. >> yeah, go ahead. >> bonawyn just made a really interesting point. he said that last week, we were trying to figure out how long this drawdown might go, when the s&p was down 5% or so from those recent highs, now, if you think about, we're through 80% of s&p earnings for q-1. i think it really was the guidance that hit some of these specific stocks, or the sectors

here, and a little bit, when i think about, what are some of the inputs to earnings, well, coming into the quarter, expectations were up 3.4%. that's per fact set. we came in 5% greater, you know, year over year, and that's an improvement from that 3.4% that was expected. you think about the dollar coming in, crude oil coming in, yields coming in, that is the thing, i think, the ingredients that are making equity investors feel a little bit better about the multiple. coming into this year, we were all kind of scratching our head. how do you get to year over year, 10%, 12% earnings growth, which was pretty much consensus, and i think if q-2 comes in better than expected, that's the thing that kind of powers the market higher, because people are looking at 20 times right now, saying, that's not horrible, relative to the five and ten-year averages. >> all right, so, this is going to be a strange scenario question to ask, but i shall ask it anyway, because that's my business. let's say the ten-year yield

goes to 4.8%, but nvidia's earnings, which come out on may 22nd, are really strong, and they raise their guidance, what wins out, is it the higher yields that pressure the market or nvidia's report that fuels the rally -- >> nvidia. >> i would say that it's nvidia. >> yeah, i think that would be nvidia. i think people want to see an environment where these darlings of the market that got us here can still outperform, and there's still something left for them. plus, they have 85% market share. so, if nvidia can do it, then there's enough chips that might fall on the side for the rest of the companies to do it, but nvidia has to lead. >> guy, what is your take on that question? >> yeah, no, that's -- that is the right question, that's a fair question. i'll still think -- i'll still push back and say yields rule the day, and nvidia is a single stock and i'm not going to underestimate its importance, not only to obviously semis, but to the broader market, as well. but i think it's about yields and what's going on on that

front, so, maybe for a day or two, nvidia will capture the imaginations under that scenario, but i think yields at those levels will sort of dictate a lot of things going forward from there. >> surprise, surprise, i'm in the nvidia camp, and not just because i'm -- >> a shareholder? >> yes. or gung-ho about the stock. it means that capex spending going forward remains strong, and if the outlook of companies that are allocating those dollars to capex believe there's growth to be had, and the r.o.i. supports the accelerated capital expenditure. and i think that bodes well. it probably flies in the face of our most recent gdp number, but also speaks to the confidence that companies have to continue to allocate, grow, both top line and ability to maintain margins, with the capital. >> i think it would highlight one theme of the earnings season versus another, and one theme is the continued spending, and emphasis on a.i., but the other one, you know, underlying this

is, the weakness in the consumer, the consumer sort of, you know, getting fed up with price increases and we've heard this time and time again, whether it be starbucks, tyson today. you name it, there are few companies right now that feel confident about further increasing prices. >> yeah, and that's a great point, mel. there is a massive bifurcation. if you think about the companies that are driving s&p earnings right now, the very companies that bonawyn was just talking about. the ones spending on these high end gpus, right, for their generative a.i. models. and when you think about how they monetize that, we heard it from amazon, google, microsoft, meta is obviously more consumer-focused there, but it is going to be from enterprise spending, right? so, to your original question, nvidia does not guide up in a meaningful manner, given what expectations are for this year, 80% revenue growth on 80% earnings growth, and it's not something that folks can kind of see, kind of continuing to accelerate, then i just don't

think those stocks are going to be the leadership going forward. and to your point about consumers, you look at the consumer companies, we're going to get a lot of data from retail companies that are set to report starting next week into the next couple weeks. if the consumer is not hold ing up, i think you have a problem for the market, not too different from the highs in july from 2023 to the lows in october, because then you do have a valuation problem relative to the spending, because if the spending is going to increase and they don't monetize it, that's going to weigh on margins. >> one of the streets biggest bulls sees potential for a bumpy economic landing. oppenheimer's chief investment strategy. john, you think recession is off the table completely, correct? so, you must think that those that utter the word stagflation are kind of crazy. >> yeah, i just don't think that's where we're headed. we've had 11 hikes, we've had

seven now pauses by the fed. no recession, earnings growth is substantially better than was anticipated. you've got three second attorneys with double-digit earnings growth that include communication services, you've got consumer discretionary, information technology, okay, all over 20% to 40% earnings growth, and then you have three bad sectors that are negative earnings growth, double-digit down, are energy, materials, and health care, believe it or not. it just -- what it tells us, we look at earnings growth, if you look at the jobs growth that continues, ialbeit at a slower pace, but the history of this fed funds hike cycle tells us that the fed has done something right, business has done something right, likely that a.i. that's been talked about that already exists today that's being invested in, how business navigate things better.

the consumer is navigating things better, likely to just the technology that they have in hand today, and the information that is much bigger delivered than i can remember in over 40 some years in this market. so, it looks pretty good to me. is there trouble? there's always trouble, all the time. you know, i've been on the show how many times in the last 12 years that i've been with oppenheimer, and i've been decidedly positive most of the time, and from the last time i looked, i think we were about 1565 when we started, and now we're at 5100 and change, you know? >> we call you the street's most bullish strat ji, because your price target is 5500, but you still don't rule out a bumpy landing. does that landing rule out a bear market sort of pull-back in the markets? i mean, what does the market, you know, the contour of the market rally to hit 5500 look like in that context of a bumpy ride? >> bumpy ride could be the bond

market pricing the ten-year to yield closer to five than closer to 3.8, around where we started this year, that causes concern, are we going to see the consumer fall apart, the businesses going to get into trouble with refinancing, what happens to real estate? but this thing, just like a few weeks ago, i mean, the bears were basically saying, it's the end of the bull market, it's over, you know, kind of thing, and then all of a sudden, we look at the economic data, we hear from the fed, and it looks like this has longer to move. a lot of it is that secular trend of technology that drives all 11 sectors by management of companies, they want to be a great value company or a great growth company. and they need the developments, which are occurring today, and

so, they're investing in it. and the consumer has been remarkably resilient this particular cycle, as well as the jobs growth, so -- you know, bumpiness, always a possibility, that's why we, you know, we don't rule that out. >> john, great to speak with you. thank you for your time. >> thank you, appreciate it, melissa. >> 5500. you agree with that? >> ultimately, but i don't think it's a straight path there. i think you're going to get a bit of a pull-back. i think we're going to test that 200-day. the market's set up, technicals look like a setup from july 2023, where you had the little bit of a hesitation, a little start, and then it sort of fell out of bed. tested the 200-day and then moved higher. i think we're probably not going to do it in one fail swoop, but probably in the next month or so, we're going to see that test. >> guy, what is your take on 5500? >> i mean, again, it's going to be a straight line there, which is sort of mirrors that article that came out, saying most money

managers think another 8% to 10% of upside, and that's sort of what john is talking about. i'm sort of with steve on this one. that 200-day moving average to me sticks out like a sore thumb. and i'll say this about the consumer, yeah, i've said it 1,000 times on this show that never underestimate the u.s. consumer's want to spend, but unfortunately, right now, they are spending to combat inflation, and i don't think that speaks to a healthy consumer. i think that speaks to a consumer that's try to figure things out on the fly. >> i think the last few years have kind of spoiled us. we've gotten used to 15%, 20%, 30% moves in the s&p. i think there's very little upside from here, given what we're seeing. it's essentially a confluence of events. we have, you know, opposing macro economic data, we have a lack of unity around what fed policy is going to be going forward, we already have, you know, we continue to raise expectations around earnings growth, and we do have, you know, citigroup essentially came up today, said, the bottom half

of the consumer is starting to struggle. and we have persistent inflation, and all the global issues, you know, put aside, i really do think that the deglobalization puts upward inflationary pressure, period. and i don't think that's going away any time soon and i think that's being massively underestimated. i think 5500 likely does not happen. boeing shares falling after the faa announced it would launch a new investigation into their 787 dreamliner. this one is around employees potentially falsifying records around inspections. phil lebeau has all the details. phil? >> melissa, this played out over the last several weeks. once this report came out in the middle of the afternoon, we were able to piece together exactly what has happened and what the faa is looking into. yes, it does involve the 787 dream liner, and the question of whether or not employees have falsified records. boeing was alerted by an employee last month, late least month, and they alerted the faa, which says, you know what?

let's look into this. hence the beginning of the investigation. with regard to the employee who said, hey, look, something doesn't add up here, boeing's head of the 787 program issued an employee email saying, after receiving the report from an employee, we reviewed the matter and learned that several people had been violating company policies by not performing a required test, but recording the work has having been completed. boeing builds about five 787 dreamliners a month. and by the way, both boeing, as well as the faa, say this is not a flight safety issue. but it does need to be investigated, melissa, because you need to determine, a, how widespread was it, how far back do you have to go in terms of checking previously built 787s, doing the test that had been marked as being completed, though it may not have been completed. and they will also be doing checks of those that are currently in the production process. >> we don't know what the test was for, phil, do we?

>> no. but we do know that boeing is pretty emphatic about saying, this is not a flight safety issue. this is not a case where the plane should not be flying, if we think this was a completely falsified test. >> right. okay. phil, thank you. phil lebeau. >> i guess that makes me feel a lul little better. i don't know. it makes me question boeing a little bit more at this point. >> if you're not questioning boeing, there's probably something wrong with you. this should be a mini series. this is going to be on netflix within two to three years. the only reason why the stock is staying where it's at is because they have a duopoly. them and airbus. it would be trading, probably, in the 20s, if it was any other company. it's crazy to me they are only down 30% for the year. >> guy, at some point, isn't it so bad it's good to use a fred from carter braxton worth, the chart master? >> 100%. but i thought that, melissa, if i'm being honest, when the ceo

stepped down and that stock went from basically $185 or so to $196, i'm like, that's it, you finally caught this thing cold and i thought it was headed to $220, $225. i understand exactly what steve's saying, but their defense portion of the business gets absolutely zero credit whatsoever in this environment. so, i'm with you, but i would have said that $20 or so ago. with all that said, i mean, i'm not in the business, but maybe i should be, because the crisis management at boeing, in a word, sucks, and they got to do a lot better job. >> yeah. coming up, elon musk has a thought or two on what berkshire hathaway's next big investment should be. why he thinks the oracle of omaha would be wise to take a stake in tesla. plus, a showdown at starbucks. the former ceo speaks about the current ceo. we'll talk about that next. this is "fast money" with

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apple stake in addition to a record cash hoard. that news prompting tesla ceo elon musk to suggest the oracle of omaha takes a position in his company. tweeting on sunday that investing in tesla is, quote, an obvious move. but with shares losing a quarter of their value since the start of the year, and the ev maker's growth prospects in question, what if anything would make this legendary value investor dip a toe into tesla? dan, i feel like i want to go to you. because i think that you're going to call him crazy, for one, but hear me out. hear me out. one could make the argument that -- that this is, in some ways, a berkshire hathaway sort of investment, because it would require a longtime horizon to actually pay off. >> yeah, you know, listen, mel. we just spent a lot of time, five minutes, talking about boeing, the quality assurance there. that was a culture for decades and decades that you could take it to the bank. steve mentioned the duopoly.

i think about what's going on in the evs, and i'm hard-pressed to think -- if i was warren buffett, i would take $100 billion and invest in spacex, because to me, that's still a very untapped -- if you believe in what elon musk is able to do in each one of these verticals that he's basically applied his, you know, his know-how to, i think the tesla story is much less interesting, and, again, a lot of investors, you just look at the valuation of tesla, some of the other companies, they're really making a bet on him. i would rather bet on him in space and starlining and these other things than tesla right now, because, you know, berkshire's made their bet on byd. they think why that is going to be the market. and i don't know about you, but elon didn't give me greater confidence about them doing a mass market car, so, again, not something i think that berkshire would do any time soon. >> ah, yeah. i tend to agree. i'm actually surprised that he suggested he might, or should, invest in some of the others.

kudos to you in finding a way to create an alliance between the two of them. i don't think it fits the item of what they're doing. bottoms up, some of the parts, saying, we buy something at a discount. and right now, in terms of, i can understand the logic in terms of wanting to be behind a secular trend towards, you know, evs, or battery operated vehicles, electrification, move away from fossil fuels, but that flies in the face of what he's done with other investments. so, i really just don't think that the value at point of transaction suffices for it to be a warren buffett move. >> i think what you're going to see elon musk do is move and pivot. he's the ultimate sales person. if you love him or hate him. he's going to move more into a.i., more into robotics, less into ev. but he's still the number one player. i agree with dan on the spacex,

because everyone's clamoring for a piece of spacex. that's the golden jewel. but i think if he can get someone like a buffett, who, by the way, he's on his way out, not dying, but handing over leadership, it might take a different stance and it might not look like the berkshire that we're all used to. >> you're saying it's a possibility? >> i'm saying anything is a possibility, how big of a possibility -- we could all debate, but if you could pivot that to an a.i. bet, and he's still -- let's face it, he's still the number one play in evs. rivian is the second player, distant second. a lot more "fast money" to come. here's what's coming up next. disney on the docket. the entertainment giant getting ready for a rare before the bell earnings report omorrow. can the company deliver some magic? we'll debate the big report. plus, former starbucks ceo howard schultz for the coffee giant's new boss. will this roasting give shares the jolt of caffeine they need? we'll percolate on that, right after this.

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money." stocks kicking off the week in the gaining a half a percent. the s&p up more than 1% and the nasdaq jumping 1.2%. tyson foods falling hard. the worst performer in the s and p today. the chicken producer warning that inflation is taking a big bite out of consumer budgets, forcing them to trade down when grocery shops. and a pair of sports betting stocks feeling the love. draftkings and flutter getting a boost today. churchill downs reporting $210 million was bet over the weekend on the kentucky derby. and palantir tumbling after giving light full-year revenue guidance. the company reporting in-line eps for q-1 and beating on sales. guy, which one you want to take here? >> tyson, because i think that's really interesting. if you look at where that topped out, it's not consequence dental, around the same time that inflation started to become a problem. and no longer can pass on those costs. the stock bounced off that 44

level. i think the selloff today makes sense, given the run that it's had over the last six months or so. but i wouldn't run all that far from this. they're going to figure things out. there's some initiatives in place. and i think it's going to level out. i don't think it's going to be here. probably another 10% to the downside in the stock, which probably gets you to $52.50, $53. >> the comment really that spooked people was the comment about the consumer and pricing pressures and the shift to in-home from qsr, and i think they're trying to explain that away, but it was sort of -- out of the gate, and it was too late to sort of claw back and that's what people are focused on, if they cannot raise prices anymore and consumers are actually watching what they spend, in terms of proteins. >> yeah, and they're the ones -- if you look at how much, on a notional value, how much they make off chicken, 25% of the market in chicken, they also have pork, they also have the beef, and then you look at the other player, pilgrim's pride, they have 20% of the chicken market. so, they're going to be volatile, but they have more levers to pull, as far as

protein. i think you can see more of a press to the downside. but ultimately, we talked about a duopoly, there's not a lot of places you can go for pure plays in protein and tyson's probably a main stay. >> you know, i will say, it's pretty expensive historically. we were talking about raising earnings forecast and supporting the 20 multiple. this trades in the mid 20s, so, there is a challenge there. i will say, on the positive side, their ability to kind of turn around that bottom line number, because that was essentially appalling last year, and you saw up 16%, 17%. last thing i'll say, you see some real exacerbated moves. in apple, tesla, some of the others. i would not be surprised to see some ongoing volatility. coming up, starbucks showdown. former ceo howard schultz with some choice words for his successor. more on that next. plus, the chart master stops by for some texas tea

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welcome back. howard schultz with some pointed words for the man he appointed as his successor when he announced his latest resignation in 2022. schultz saying in a letter posted on linkedin this weekend to, quote, make the stores be better. this as pro-palestinian boycotts heat up on social media. cnbc's kate rogers is here to break this all down for us. hey, kate. >> hey, melissa. the former ceo weighing inweak . he said, quote, the stores require a maniacal focus on the customer experience through the eyes of a merchant. the answer does not lie in the data, but in the stores. he says senior leaders and board members need to spend more time with workers. schultz did say he feels confident that the company will

recover. he's no longer on the board, but is the largest individual shareholder of stock, with a stake just under 2%. in response, the company said, quote, we always appreciate howard's perspective. the challenges and opportunities he highlights are the ones we are focused on. and like howard, we are confident in starbucks long-term success. starbucks has been hit with boycotts over its perceived support for israel, which executives have called, quote, misperceptions. last quarter, the company pointed for the boycotts for sluggish sales. bank of america says today that social media coverage of starbucks is likely behind the recent slug ushgish sales. >> all right, kate, thank you. kate rogers. for more on what is next for starbucks, let's bring in our guest. i want to get to the issue of

the protests. we can, you know, see that maybe consumers don't want to pay a lot for coffee, all the various obvious reasons, but in terms of the protests and how the company's handled them, what is your take? >> star buc got caught in the protest through a fluke thing. they really haven't taken a stance. if i were their management, i would look, say, what did we do to deserve this seems like a reasonable response to that. but if the protests are the driver of the cuts, i'm skeptical of that, that's the best possible story, because it means it's going to go away. this isn't about deeper operational problems, the stuff that howard schultz said is irrelevant to their concerns, and everything will be fine in a quarter or two. i'm -- i'm not persuaded by that story. i want to sort of pause and have a moment of sympathy. doing anything with a back seat driver is hard enough. >> yeah. >> leading with a back seat driver who has a james bond style eject button to fire you

out of the car and used it twice before -- >> right, right. >> strikes me as an interesting leadership challenge. i think my students would have some great things to say about that in class. but the -- the basic question that we should be asking, if we assume that whoever happens with the boycotts will end reasonably soon, is, is schultz right? and that's what we should be focusing on. i walked into a starbucks on my way to the studio. i looked around to see, what is my take? this is on sixth avenue in midtown, presumably an important location for them. there was trash on the floor, it looked din ggy, if there was an sign that the employees really cared about the appearance of the place, i could not detect it. it seems like, that's one data point, but it's still pretty telling they are having bigger operational problems they should be thinking about. >> so, is it as easy as schultz says, you know, go into the store, be closer to the customer, it's all about the store, as opposed to the data? i mean, do you get that sense? >> it's never easy.

i mean, i think, when he came on, it was actually quite admirable, extent to which he really went all-in to become a starbucks person. in fact, he still spends half a day working in a store as a barista. i would not want that job, good for him. that tells you a lot about his dedication to the culture of the company. but he is an outsider, and it is hard to process in in this way. this is what my books are about. it's hard for them to get into that environment in a way that an insider would. schultz has chosen three successors. the first two didn't work out that well, and they were also outsiders. so, i want to ask this question about, what's going on there, that this keeps happening? >> maybe you want somebody from the outside -- i mean, maybe in this case, you want somebody to be from the outside and walk into a store and say, this store is dirty, it used to be clean. what -- where has this company gone wrong as opposed to somebody who is -- i mean, i don't know, when you want to clean up a company, oftentimes, an outsider is brought in. >> they are change agents.

the question i would ask himself, because change is always a high variance process, right? you could do very well or very poorly. change is going to drive up your variance in outcomes. when they brought him in, did they really feel that starbucks needed a change? or was continuing on with their strategy and their approach and just honing what had already done the right approach? when steve jobs replaced himself, he didn't pick a change agent, he picked tim cook. i think that worked out well for you. >> right. >> if you look at what would happen with starbucks, the pandemic had a lot of overlay. and that's a lot to blame for the workers' morale and everything else, because people were out of the offices, people didn't take the pride and where they worked. they had to go strong into digital. and now, we look back on it, starbucks was the premium brand, you paid for that experience. so, what saved them during the pandemic is hurting them now, isn't it a case for all of these restaurants? starbucks might be the poster child for it. >> yeah, it's definitely true, that sort of high end

consumption. i heard you talking about mcdonald's earlier. we can go down the list of different places that are doing that. it's not a short list. they seem to be hit worse than others. some of that is definitely fluke stuff. i used to live in china. starbucks is very popular, but you can see challengers to starbucks that have advantages, and that do not have the overhang. so, i wonder, well, we're just getting a worse deal than everybody else because of those things, but again, that is not -- right, that's not schultz's argument, at all. he's focused entirely on operational problems, and operational problems are an indictment of a leadership team that has not been in charge for that long. >> so, as an expert in leadership, right, and you mentioned change, one of the things that really caught my ear, change is inevitable, right? and when you're a leader, isn't it part of your task to be able to train the next person that's going to lead in the manner that you want or at least have, you

know, the where with all to make a determination about the correct direction of the company going forward? so, for me, is this just an indictment on new leadership or is this also an indictment on pre-existing leadership's enact, because this is this third time now, third iteration -- >> maybe it's on schultz. >> and having it not fail, so, that seems to be the common theme throughout this. what is your take there? >> the fundamental task of any leader that thinks of themselves as a steward is to hand it off to someone else in better shape than when they found it. whatever shape schultz hands off in, it's in better shape than what he found it. but yeah, he's got to look in the mir rror and say -- he chos this team. how come this keeps happening over and over again? at that point, you would say, maybe it's time for the word to step in. not in the sense of pushing out the ceo, but howard, you have a lot of amazing skills, but maybe picking a successor isn't one of them. and it's time for us to take a

larger role in that. >> thank you for coming by. appreciate it. >> thank you very much. >> dan, what is your take? >> yeah, reminds me a lot of disney, obviously, that's the easy one there, and once we started seeing board members or ex-ceos chirp in the way we're seeing howard schultz right now, chapek was done, it was over. we can probably start the clock on this ceo right now, because he's no longer, schultz, a board member, he's the fifth-largest shareholder. when he's being so public about this, he's probably trying to speak with the existing management and word, and they're giving him the heisman a little bit. he's going to have a greater emphasis when he speaks about the situation. this guy's toast. and the company needs some sort of major overhaul. i think we can probably figure that out before this ceo put out a couple really bad quarters. >> guy, do you step in on some level near here or do you wait for a change at the top?

>> so, go back, our crack staff in ec can pull up a chart, you can see the low back in may of 2022, and we're close to that level now. and, you said it about boeing, so bad that it's good. and we are probably pretty close to that in starbucks. of course, the problem is, they make very expensive things and a strapped consumer is probably trading down from it. this stock move happened long before boycotts and all these other things. i mean, go back and look. this stock probably topped out sometime in the middle of 2021 and it's not traded particularly well since. there will come a point where it makes sense on valuation. i just don't think we're there yet, mel. we'll get there, but we're not there yet. coming up, disney is on the clock. the entertainment giant reporting before the bell tonight. we'll dive into the key numbers investors want to hear after the break. and test out the technicals on texas tea. wti crude down in the last month, and the chart master says now is the time to buy. why he's bullish, right after this.

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clock. disney set to report tomorrow before the bell, with shares up nearly 30% this year. the best performer in the dow so far. the company's heated proxy felt with nelson peltz in the rear view mirror and investors are focused on the health of disney's direct to consumer business, which saw a drop in subscribers last quarter. so, can investors expect disney to deliver in q-1? guy, what's your take? >> well, i think we're past the point of saying they're going to cost cut their way to prosperity. i think they've gotten the b benefit of the double on that one, which is fine. now, it's sort of delivering and what the vision is. i think the stock -- i know the stock has had a significant move, but you're playing a little of the deep end of the pool here if you think you're going to get this thing from $116 to $130 in a straight line. i don't think that's happening. so, i would much rather than say something that disappoints the market and look for it at the mid 100s, $105 or so than to try to buy it here. as i said before, i don't think price cuts are going to capture

the imagination of traders right here. >> and, you know, both netflix and disney have been performing well. and disney, everyone counted it out, so, there was sort of that rebound where it was back from the dead, and iger really resuscitated it, took the paddles to it. it's back. but it seems to be tracking the same path as netflix. i don't think they both can be a winner in this marketplace. i think -- i actually hi netflix is going to turn to the downside -- >> why can't they be? why can't they both be winners and the rest of the little guys go away? >> that's me? you want to go somewhere else? >> dan has plenty to say. >> dan, go ahead. >> dan? do you think disney and netflix can win and all the rest can sort of get absorbed? >> yeah, i think hulu, that's kind of a disney thing, too. i think we're going to get rebundled. i think all of these guys have taken a shot over the last five years or so, they have spent a

lot of money. they have spent on acquisition. some companies are able to raise prices and margin and maintain the level of quality original content, maintain their ability to buy sports rights and the like. so, to me, there can be multiple winners, but they're going to be the big ones. >> do not miss disney's cfo in a first on cnbc interview after the results cross, that is tomorrow, 6:45 a.m. eastern time on "squawk box" right here on kra nbc. coming up, the chart master is bullish on oil. is now the time to play for a bounce? we'll test the technicals, next.

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welcome back to "fast money." oil prices olding steady today, but have fallen almost 10% in the past month. the chart master says it's testing a key support level. let's bring in carter braxton worth to dig into where oil could go from here. karc carter? >> a selloff of three weeks, $10 a barrel, to a level where, on my work, rebound potential is high. let's do it. five charts, they're all identical. first one, no lines, no drawings. been as low as $65, high at $95. second chart, this is a drawdown. perfectly normal. 9%, 10%, 11%. let's put the next chart. and so, the selloff leaves us at a well defined trend line. last two charts, is this a level where it rebounds?

i put that green arrow there, someone else might put a red arrow, but that's what makes a market. final chart, just a very simple line with arrows, it has come down to the penny, to the penny, to the penny. play for the bounce again. >> what kind of bounce higher are we talking about? do you put a line on the top and that's the upper channel? >> yeah, i mean, at least back into the sort of $84, $85, and then with a little luck, perhaps even more. >> all right, carter, thank you. carter braxton worth of worth charting. guy, just in time for summer driving season, pain for the consumer. >> the uptrend line is in place. there's a channel, as well. and if we hold here, which i think we do, these equities are still cheap. exxonmobil is trading like a champ, by the way. >> and you look energy. >> i do, i do. i think whether we get good luck or bad luck. geopolitical flareup or demand. >> how about you? >> i think we're headed lower. i think opec plus is probably going to keep their production

at the same levels. i don't -- they're not going to cut again. and then, if you even flirt with a cease-fire, i think everyone is so poised for things getting worse geopolitically, and opec getting in the way, i think it sets up for oil to come in. >> all right. up next. final trades. - so this is pickleball? - pickle! ah, these guys are intense. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? (♪♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪♪) surprise!!! the future isn't scary. not investing in it is.

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>> dan? >> yeah, pfizer breaking out above an epic downtrend. >> bonawyn? >> i'm with guy, i'm with carter, xle. >> steve grasso? >> west rock. wrk, breaking out. >> happy birthday, tim. anyofor watching "fast money." 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. i'm cramer, welcome to "mad money," i'm just trying to make you some money. my job is not just to entertain but put everything in context. call me 1-800-743-tweet me can the jim cramer. maybe that was the sell off.