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CNBC's "Fast Money"

An Epic Fail For Apple and Peloton’s Big Week

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 13 September 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Apple erasing $85b in market cap today after a judge ruled the company can no longer force developers to use in-app purchasing. Shares of Alphabet fell in sympathy. What the decision means for the state of tech service providers. Plus, shares of Peloton kicked into high gear this week, posting their best week of the year. How the traders are playing the name. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Yes, it does live from the NASDAQ. This is Fast Money. I am Brian in for Melissa again tonight, and your all-star lineup includes Guy Adami, Tim Seymour, Karen Feynman, and Dan Nathan.

0:12.7

Tonight on Fast, we are all over the after-hours action and shares of Oracle. Earnings just out. The company call, just getting started, will bring you all the news and the

0:22.0

trade on a stock some say is the forgotten giant of big tech. Plus, is the entire market about

0:28.5

to flip on its head? B of A. Savita Subramanian says it is. She'll tell you why and what to buy

0:34.4

now. And later, speaking of buying, buy your Christmas gifts now, we'll tell you

0:40.4

what just happened in Nike. That could be a big warning for the rest of retail. You,

0:45.7

here, shopper, have been warned. All right, welcome. We are going to get to all of that on this big

0:50.4

hour, but we have to start with a big day for big oil.

0:56.7

Crude oil back above 70 bucks a barrel.

1:01.0

As demand rises, production stays flat, and the U.S. dollar gains.

1:08.5

This pushed a big day for the OIH, oil services ETF, jumping almost 5% for its best day in nearly three weeks.

1:11.7

Some beaten up stocks going along for the ride,

1:17.2

like double-digit gains for little known names like RPC and Helix Energy.

1:19.9

But it wasn't just them showing strength.

1:21.0

It was more broad-based. And the energy sector was the best-performing group in the S&P 500 today by far.

1:29.9

But of course, we have seen this before.

1:37.7

In June, the OIH was at $240. Everything looked great, only to leave so investors crying in the oil patch as it turned down in a big way. So Guy Adami, we begin with you, my friend, is this

1:43.0

bounce. Maybe the start of a longer lasting love affair or just another round of speed dating.

1:51.2

Yeah, I don't know about either, but I will say that I was one of those people a few months ago that thought I would continue higher.

1:58.3

And I sort of got caught up in that maelstrom.

2:00.2

I think to a certain extent,

2:01.5

I think too many people got on that side of the boat and the sell-off was precipitous. Dan Nathan

...

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