All The Tech Earnings… And Powell’s Last Rate Decision 4/29/26

16:16Tim Seymour:Yeah, Seema, thanks, Seema Modi. There's also questions to whether or not they're going to have to spend themselves more. And to Seema's point, Q2, CapEx slowed down quarter on quarter. So that is a departure from what we are seeing from the rest of the bunch.

16:28Melissa Lee:Yeah, I think, you know, you guys were talking about it again with Brent Thill, I think, on the prior hour here. And, you know, you kind of laid out this whole thing about, like, their enterprise exposure, right? This is one of the only companies that we're really talking about tonight that has that exposure. And so when you go from 365 seats from 15 million last quarter, so sequentially up five on a base that's over 400 million, it's not exactly saying, you know, great uptake. That being said, this deal moving away from OpenAI, integrating Anthropic, having the enterprise security aspects of it, I would expect at some point this to accelerate further.

17:01Melissa Lee:And that's going to be the thing. If they have Azure growing at 40 percent, there's nothing to shake a stick at right there. And that did accelerate sequentially. So I think there's probably a lot of things that set up for Microsoft when sentiment is not particularly good right now.

17:15Karen Finerman:It's awful. And I actually think these copilot numbers, I realize given how many installs on O365 are out there that you've only got 20 million plus paid seats. But, you know, that's a big number. That's a big growth number over the 15 that was the former benchmark. I think you're paid to own Microsoft. And it's what we've said. This is a legacy player that's on everybody's desktop. I'm not sure it's going anywhere. And I do think they're going to be able to ring the register. and maybe it's kind of a Google story. I mean, I think people, we've counted them out when, in fact, they can partner now with anybody.

17:49Karen Finerman:Maybe this is part of the news coming out of the open AI.

17:51Tim Seymour:How's the chart look? Well, the worst of all, of course, coming into this, I mean, the stock peak back in August, and it's had a meaningful bounce, which gives less opportunity for a bounce. I'd put it in the pair of twos category. Whoa, not good. It was inevitable, right?

18:06Karen Finerman:It's not good and it's not bad. It's just like the two. No, I mean, come on, I think a pair of twos sucks. I don't want a pair of twos. There's worse than pair of twos. A pair of nines is like, you know, eh.

18:18Tim Seymour:A pair of twos is like milquetoast, right? I mean, it's just sort of like, eh, it's there. The trick with a pair of twos to poker is to fold. It's the least hand you could have with having no hand at all. Don't put any more money in. But if we're telling people to fold Microsoft, we're telling them that this is... No, meaning it's not, there's no discernible immediate opportunity to be long or short.

18:35Melissa Lee:Wait for the flop. And you might flop it too, Mel, as you've said many times. And I think you could flop it to in the form of this quarter. I don't think it's bad at all. And you could actually make a case for Microsoft on valuation still, despite the move from, what,$350 or so over the last couple weeks. So I think to Carter's point, it's a bounce that was looking for a reason to sell. I think you found it. But I don't think the quarter was bad. I'm embarrassed I use the word sucks on TV.

19:00Tim Seymour:No, you're not. No, in the previous hour, there was somebody who was on our air who said that word probably six times. Notice how she couldn't say it? No, I'm not going to say it. Anyway, we should point out that Microsoft's call is 12 minutes away, so a lot can happen between now and then. Coming up, we are keeping an eye on all the tech moves, bringing the headlines from the conference calls as we do get them. And it's not just tech, of course. The latest numbers out of Chipotle, Ford, and MGM straight ahead. And if all the earnings weren't enough, we are breaking down today's rate decision.

19:33Tim Seymour:There was one. What Jerome Powell had to say at what could be his last press conference as chair, and what influence he could wield as he stays on the board. Do not go anywhere. Fast money's back in two.

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20:50At Venture Global, we think about what can be done, not what's usually done. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost in a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy.

21:20Tim Seymour:Welcome back to Fast Money, a burrito blowout.

21:23Karen Finerman:Oh, it's about time.

21:24Tim Seymour:I had to say it. Shares higher by 4.5 % after posting surprise same-store sales growth in its latest quarter. Brandon Gomez joins us here on set with the numbers and the very latest from the call. Hi, Brandon. Hey, Melissa. Yeah, the call is still ongoing, but EPS and revenue coming in line with the street's estimates. Clearly, the street liking that revenue jump of almost 7.5 % year over year. Now, I do want to point out that the company said that's largely driven by new restaurant openings. Yes, transactions up 0.6%, but average check was basically flat. Same-store sales better than expected, up 0.5 % compared to an expected 0.7 % decline.

21:57Guidance for same-store sales for the year expected to be flat as well. Now, executives on the call giving a bit more color on the consumer, saying March saw a bit of softening around the time of the Iran conflict starting, and some restaurant openings will be delayed in the region for that reason. Trends have since improved in April, the company marking a return of double protein as their success metric. And still, Chipotle wants to remain cautious on their outlook, given the dynamic of the consumer environment right now, Melissa. So the call, again, still ongoing, but some signs of improvement for the Chipotle.

22:28Tim Seymour:Chipotle. I know you're a big fan of the double protein, Tim. Sure. And the chicken pastore back. I mean, there's good times.

22:35Karen Finerman:And also my neighborhood store actually staying open till 11 o 'clock like they're supposed to and having all the ingredients. But it gets back to evaluation story. This is starting to get kind of interesting. This is a stock that also the chart, maybe Charter's got a view on this. But I look at a 28 multiple on a trailing on a forward basis. And when Brandon talks about the organic growth coming from new store openings, that was part of the growth story for a long time. It was not necessarily check sizes, et cetera. So I think the worst is over here, and I think it's time to nibble.

23:05Tim Seymour:I mean, to your point, historically low valuation. But the knock is that they were opening stores a lot to drive it, except that we weren't seeing it in the revenue. I mean, it was not speeding up as quickly as before. It's not a growth story anymore.

23:17Melissa Lee:It's not a growth story anymore, and that's reflected in the stock over the last year. However, you can re-inflect a little bit. I think you're seeing it in the comps as Brendan mentioned. I mean, you're getting cops a point half a percent. The street was looking for negative 0.7 percent. So that's a good sign. You know the other good sign? People are looking for real deterioration in margins. Year over year, you got it, but it wasn't as bad as the street was looking for. I think they came in at close to 24 percent. So I'm with Tim. And in terms of the technicals, you know, we traded down to the November lows, seemingly held and bouncing now.

23:46Melissa Lee:I think you can own CMG. Well, I mean, if I were writing the headlines, I would say that coming into the print, Chipotle was down 53 percent from its high of$70 two years ago. And tomorrow morning, if it gaps up to where it's indicated, it'll be down only 50 percent from its high. I mean, it's like. Sounds like some twos, people. Maybe worse. Maybe worse. Maybe worse. I mean, you know, come on. It's a good thing he's not a headline writer, though. I mean, that's a dour headline. And it's long. It's really long. It's not very pithy. You know what it does, Mel? That headline? It sucks. Sort of like the burrito company.

24:24Tim Seymour:All right. Anyway, Brandon, thanks. Coming up, the headlines from today's Fed decision. What could be Chair Powell's last meeting and how his successor could shake up the central bank? You're watching Fast Money live from the Nasdaq Market Side in Times Square. Back right after this.

24:48In Traverse City, you'll find it's your summer to let go. Just let the rhythm of the water set you free. Full sail and eyes open, inviting you to breathe and just be. Out here, time slows as the gentle waves bring us closer than ever before. Embrace it all, then let go. Season after season in Pure Michigan. Find your season at TrevorCity.com.

25:44Melissa Lee:back. Henry Joe's hot chicken and wings. If you know, you Joe. At Venture Global, we think about what can be done, not what's usually done. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost and a fraction of the time. So while others are busy Talking, we're busy building. That's Venture Global. That's unstoppable energy.

26:20Tim Seymour:Welcome back to Fast Money. Stocks closing mixed today. The Dow falling nearly 300 points. Now on a five-day losing streak. It's longest since October. The S &P and Nasdaq virtually unchanged. WTI crude jumping 7%, settling above$100 a barrel for the first time since April 7th. And interest rates rising across the board with the yield on the 10-year treasuries coming above 4.4 percent for the first time this month. Shares of Carvana, meantime, higher after topping earnings and revenue estimates. The company posting a 40 percent jump in vehicle sales from a year ago. Well, the Fed holding interest rates steady but seeing the highest level of descent since 1992 with four members taking issue with parts of the decision.

26:59Tim Seymour:It is expected to be his last meeting as Fed chair, but Jerome Powell told reporters he is staying on. the board as a governor after his term ends. Treasury Secretary Scott Besson just responding on Fox News saying it is highly unusual what former chair, soon to be former Fed chair, Powell did. And Larry, to be clear, the last time a Fed chair stayed on the board, it was at the request of the president. And one thing I can promise you, President Trump did not request Jay Powell to stay. I think it's highly unusual for someone who says he's an institutionalist and cares about norms at the Fed. This is a violation of all Federal Reserve norms.

27:34Tim Seymour:And I think it's an insult to Kevin Warsh, Mickey Bowman and Chris Waller. For more, let's bring in CNBC contributor David Zervos, chief market strategist at Jeffries. David, great to have you with us. Good to be here, Melissa. How does this set the stage for Kevin Warsh, given the most divisive meeting since 1992 and Powell staying on the board? I mean, it's a message, right? It's a message to Kevin. I don't think it's a pleasant one, but I think Secretary Besson said it very well. This is outside the norms. This is, in all likelihood, a political decision that is going to keep the board from falling into majority hands of the president.

28:18And I think it was actually even more aggressively against Kevin. I would go further than the secretary and say that, you know, they're almost I almost felt like at one point during the press conference that, you know, I felt like Jay was sticking around to be like the hall monitor and make sure that the chair builds consensus as is part of the norms of building consensus. And if he didn't, that Jay would be there to kind of push it back in line. I found that all very I just think it's troubling. I don't understand why there's this political decision making. But, you know, I get it. I guess I get it.

28:58I guess I get the political side of it. But it is a political decision, and I think we should see it as that.

29:03Tim Seymour:Well, I mean, to be fair, what is outside all norms is trying to remove a Fed governor, taking them to court, investigating a Fed chair. I mean, all of it is outside. Regardless of where you stand on the political divide, all of it is out of the norm. But at the end of the day, we're now pricing out completely Fed cuts. Where do you see the first cut able to happen, likely to happen, possibly? Let me put it this way. I actually think we're still likely to get a cut by the end of the year. I think Kevin could make a pretty sound and cogent case from the supply side for rate cuts, as well as the trading off of balance sheet for rate cuts.

29:43But that's beside the point in a sense, because what we really want to get the answer to is what does it mean for broader markets? And here's a fact. Since this war started, we've priced out two rate cuts and we've seen energy prices go up almost$50 from 60 and change to almost 110 today. So 45, 50 bucks. We have seen the stock market rally four or five percent in that time period. That's an incredible statement. So we've taken out two rate cuts and we've seen the energy complex rise 60 percent in price and the market hasn't skipped a beat. Imagine where we would be if this energy story had never happened, if Iran never happened.

30:26I think we'd be up 10 or 15 percent for the year, if not more. So I think the real story is that we don't need the rate cuts. We've got an incredible momentum. We've got productivity. We've got clarity on the tax side. We've got all sorts of drivers from a business friendly environment that are just making returns on capital earnings, profits and growth for companies very, very strong. And the fact that we don't have the rate cuts now, you know, it'd be nice to have them. We could probably get a little more out of them, but it's not going to get in the way of this economy. It's not going to get in the way of the stock market.

31:03Karen Finerman:David, Tim, I agree. We do not need a rate cut and risk assets tell you that. And the wealth effect will then take that even further. But we've been having this conversation for the last week or so. Are equities right? I mean, if you look at rates markets, they're telling you a different story. The equity markets always last to know. I'm just curious. We get what we see in earnings season has been extraordinary and it was expected to be extraordinary. I'm just trying to have you just reconcile that one more time. You think equity markets are making the right call? I do. And I think they're telling you something even more, that one, they don't need the rate cuts.

31:44It would be nice to have them, but they don't need them. But more importantly, if we look at the currency markets and even if we look at the long-term interest rates, I mean, 10-year note yields are, what, up 20 basis points during this whole storyline of the last two months? That's one bad day on a payroll number. And the dollar's basically flat. So I think all of your macro indicators are basically suggesting that this is not a major macroeconomic story that's going to get in the way of this stock market. And if anything, all of this makes me even more bullish because if we're able to withstand the one-two punch of the taking out of these rate cuts to actually a little more than two since the beginning of the year and this $45 rise in oil prices, which doesn't look like it's going away anytime soon, that means there's just so much momentum underlying this market to be able to withstand that that it's a great storyline for when this all fades back.

32:45And when it does, which it eventually will, and we won't be talking about the Strait of Hormuz anymore, and oil will come back down and we'll be on to the next major crisis, whatever that is, that's going to try to drive stocks down but in the end won't. I think we've just got a lot of momentum that's going to take us into a pretty incredible year by the end of the year. So this just makes me so much more positive as we go into the end of 26, or toward the end of 26.

33:12Tim Seymour:David, always good to see you. Thanks.

33:14Melissa Lee:Yep, my pleasure.

33:16Tim Seymour:David Zervos of Jefferies. Guy, you agree?

33:19Melissa Lee:It's hard to argue with that. I mean, because he's right. The markets, it's been impervious to all those things. And you can make an argument. You can't do the counterfactual. But if these things didn't happen, where would we be? So I get it. I am concerned about the bond market. I don't think people are making enough out of it yet. But I think they're going to start to. When you see 10-year yields where they are on the back of, again, an administration that has been begging for the yields to be lower, you look at what's happening globally. They're not going down. And I fear that at a certain point, the market starts to pick up on that.

33:46Melissa Lee:Yeah, Jeffrey Gundlach had some interesting things to say in the 3 o 'clock hour with Scott. You know, he thinks that, again, you just said that we're pricing out cuts, right? And if you look at the stock market and say, look, we've got pretty easy financial conditions, right, in the face of what's going on with energy costs and the like here. But he thinks you're tipping over towards rate hikes. And when you think about that, I mean, I don't even think a 25-base point hike is going to change anything that's going on in the stock market or the economy, for that matter. But you will see a drag on economic growth the longer that you see energy prices here.

34:16Melissa Lee:And then if there's any other bottlenecks as it relates to supply chains, then you're going to have inflationary pressures and you're going to be thinking about multiple hikes rather than multiple cuts.

34:25Tim Seymour:On the 10-year yield, Carter, are we still within firmly the channel? Yeah, we're just stuck there. Obviously, today, you know, it's always tempting to, you know, it's up today. Maybe here's the time. It's got to do it. But we just we're stuck. It's been a very benign rate environment. It's one of the things the equity market has liked so much. Coming up, it is not just big tech reporting results and numbers and details out of Ford's latest quarter and how our traders are steering into that auto trade. Fast Money is back in tune.

34:58Tim Seymour:Welcome back to Fast Money and Earnings Alert on Qualcomm. Shares turning sharply higher after being down about 7 % immediately after the report. They're up 14.5 % right now. The turn coming after the semi-company said it is shipping data center chips to a hyperscaler, though the CEO told our Christina Parts Nevelis he wouldn't give details on which one until the investor day on June 24th. It's interesting that we see all of these companies. They get double-digit percent increases by just sprinkling in a little data center magic here. We saw this with Texan as well. These boring chip companies that have now got a little sexy outfit to wear.

35:36Karen Finerman:Yeah. That's quite a metaphor.

35:39Melissa Lee:I mean, I won't go there because I'm not really sure what Tim's talking about. But sometimes you can be right for the wrong reasons. And we talked about Qualcomm on this television show earlier in the week. And I think collectively we said this is a name that looks interesting. Now, the quarter wasn't great. Let's be clear. I think if those comments weren't made, you'd probably see the stock lower. But, you know, sometimes it's better lucky than good. And I think that's what we're seeing here in Qualcomm. But I think the momentum continues. Yeah, NXPI, which was the end in my gen AI last year.

36:07Melissa Lee:Oh, right. Yeah, you know I love that game. That stock was up 20-some percent because they said data center 19 times. It's low single-digit percentage of the revenue. I mean, this is where you realize things are getting really silly. Forget what's going on in memory. Those guys are getting double, triple orders, and they're beating and raising. This is not that. Texan and NXPI and this is not that. It feels very exhaustive. There are different kinds of gaps. There are breakaway gaps, runaway. There are also exhaustion gaps. You can't all just gap up and find new levels.

36:33Karen Finerman:But, you know, I look at some of the headlines in the after hours and, you know, the CFOs out there talking about how auto is going to grow 50 percent year on year in Q3. Many markets are strong. That's incredible. And again, if you look at what's going on in the auto world, the tailwind and the secular dynamic for companies like Qualcomm is the car's never been smarter, Guy.

36:56Melissa Lee:Well, you know, it's funny about that.

36:58Karen Finerman:Was your Camaro smart?

37:00Melissa Lee:You're saying that to be derogatory, and I admire that. But, you know, those 67, 68 Camaros, those muscle cars, as Mel will tell you, beautiful cars. I'm partial to the 67 GTO, Melissa, before the Indoor bumper.

37:12Tim Seymour:We have a tight show tonight. Have you noticed a lot of news flow here? Another check on the other big tech movers tonight. Amazon just turning positive in the last few minutes. Let's bring in Deepwater Imagine partner, Gene Munster, who has been dialed into all the calls. Gene, good to see you. Thank goodness you're joining us. What's up with Amazon here turning higher? Well, I think they're giving some confidence that revenue growth is going to sustain a little bit better than expected, just in terms of their ability to capitalize this agentic search piece. So I think that that's helped. They've also been giving a little bit more just clarity in terms of what agentic commerce means.

37:50So I think that's probably the piece on Amazon. And I think that that's good. But the bigger picture, we've really learned a meaningful update in terms of what's going on with AI in terms of how early we are. And I think it's been a resounding indication that we still have a long ways to go here, Mel. And if I may just kind of hit, Brian and I and our team have been kind of just plowing through all these, the calls and the data points here, just kind of articulate or frame in what is important that's happened so far. and this concept around what's going on in, I mean, the simple takeaways were early in AI and what's going on with the CapEx spend.

38:32We've seen Meta now guiding 93 % CapEx growth. Previously, they were at 78%. That's where the street was at for calendar 26. And Google is saying that next year will be up substantially from this year. Of course, the street was looking for 10 % growth. That number could be 20 or 30%. That data point right there about Google, what they said about 2027. It's probably the only 2027 data point we're going to get. That data point is probably going to be the most impactful takeaway or the most important data point of all the earnings tonight. And specifically, it really gives investors a sense what that CapEx looks like for the rest of the mega cap.

39:11Those companies were expecting about 10 % or analysts were expecting about 10 % growth for next year. The one liner here, Melissa, is that it looks like CapEx for next year, streets at 10 percent right now for the big companies. It's probably going to be 25 percent when things are said and done still very early in what's going on in AI.

39:33Tim Seymour:I mean, obviously, you're on to talk about the big cap tech stocks that are reported tonight, but to me, that points to sort of the picks and shovel side of the business having a definite, I mean, for all you can say about how astronomical or exponential parabolic the moves are and some of the memory chips and all that. I mean, if you're saying that CapEx is going to increase by that much in 2027, should we expect more for the stocks? I think we definitely should. There is going to be a disconnect between the raise in expectations and how these stocks are going to react. It is very much a positive.

40:09But we saw this a year ago, is at this point a year ago, when we were looking at 2026, the street was looking for 15 percent growth for CapEx. This is for 2026. It looks like it's going to come in close to 70%, which is a similar number as 2025. I mean, just remarkable growth this year. But of course, a lot of these stocks have done well, but not that well relative to this massive increase we're seeing this year. And of course, the reason is that this belief that eventually we're going to have some big deceleration, the law of large numbers are going to catch up, that's not going to go away. That will still dog many of these companies.

40:43And so to answer your question, Melissa, yes, a lot of these smaller companies, they're going to be meaningful beneficiaries. We own a lot of them and feel good that those stocks, their E is going to go up. As far as the multiple, it should see a little bit of expansion, but this wall of worry is just going to get kicked to 2028.

41:03Tim Seymour:Should Meta be punished to the extent that it is being punished for spending money on CapEx? I don't get it. It's just a scratch. There's two kind of issues I think with Meta. One was the CapEx, again 93 % growth versus 78 % for the street for 2026. But the part that is a mystery to me is that Google talks about their CapEx being materially higher and the stock really doesn't do much in after hours, just 30 minutes ago. But somehow investors just don't feel that same comfort, even though Meta has shown, I mean this is remarkable, in the summer in June of 2025 or September of 2025, so it wasn't that long ago, Their advertising business for Meta was up 10%.

41:49It has accelerated to 30 % here more recently in the 33%, I believe, in the March quarter. So they've shown that big capex can deliver higher revenue growth rates. And it is a mystery to me. I don't think I missed anything. I don't understand fully why investors seem to have more of a skeptical view, perhaps because they don't have a cloud business that, you know, the other hyperscalers have that can more directly benefit from some of that capex, that might be the reason behind it.

42:19Tim Seymour:All right, Gene, got to let you go. Thank you. Thank you. Gene Munster. Yeah. We should remind everybody that the Microsoft conference call kicked off, you know, 16 minutes ago. So we're listening very carefully to it for any sort of developments, but the stock is still down 2.7 % right now. We've had some time to digest now.

42:37Karen Finerman:How are you feeling? Well, I just get back to Amazon. Google is no question. And we saw the stock turn a little bit. But I just think with Amazon, it's a combination of this was a very clean quarter. It was very clear on the beat. AWS, very impressive. Their own chip business is growing astronomically. It's a 20 billion run rate. The valuation isn't expensive. And as we know, they have the ability to turn on the operating income. It's cheap. It's cheap relative to peers.

43:05Melissa Lee:Yeah, and I'll be consistent. I think that's what we said right after we reported. So I think this move to the upside of Amazon makes sense. And Gene was a little perplexed by Facebook. I agree with that. I think Facebook, you're buying the weakness, and it's now meta as opposed to FB. You know Google's market cap is greater than that of Apple? I was thinking about that. I mean, I haven't seen that. I mean, Apple was, like, number one forever, and then NVIDIA came along, and then Microsoft took it for a little bit, and now it's Google. And it's just interesting to see, like, the changing of the guards here.

43:34Melissa Lee:And, you know, Apple, to me, looks very interesting tomorrow because their CapEx is going to be up, you know, 5 percent or something like that sequentially in the year of year. It's like flat ish or something like that. So that's the one when you think about all this CapEx we've talked about, what sort of leverage do they get off what all these guys are building on?

43:52Tim Seymour:Another earnings alert here from Ford shares of the automaker well off highs even after a big earnings beat. Our fellow Bo is all over that call. He joins us now with the details. Hi, Phil. Hi, Melissa. So we're about 45 minutes into that call. Let's go over the numbers for the fourth quarter for Ford. 66 cents a share is what the company earned in the first quarter. We are not doing a comparison because we're pretty certain that the analysts were not factoring in a key component of that 66 cents, which we'll explain in a second. The revenue came in$39.82 billion versus$38.82 billion was the estimate.

44:26Here's the component the analysts weren't factoring in. And Ford is factoring into its first quarter results and expected$1.3 billion in tariff relief as they apply to that to the government program for a refund. They're not putting that in the free cash flow because they're not sure when that will actually happen. In terms of the results before for the three divisions at Ford, there you see what we saw from the traditional ICE model business at$1.94 billion. Commercial$1.7 billion. And EVs continue to lose money. They're going to lose about$4 to$5 billion in EVs or$4 to$4.5 billion this year.

45:01Then there's the guidance. And this is getting a fair number of questions on the conference call. They're going to be seeing an increase in their commodity costs, another$1 billion. Most of this because of aluminum. The Novellas plant is expected to come back online. In fact, they're going to be doing a firing up of the hot mill there in May. That will help as they move through the year. Still, there's some shortages of aluminum around the world. For 26, they have increased their profit from$8 billion to$10 billion, up to$8.5 billion to$10.5 billion, with free cash flow of$5 billion to$6 billion.

45:36One last thing, they are reiterating that their next-generation EVs, Melissa, are still on track to come out next year. Melissa, I'll send it back to you.

45:44Tim Seymour:Phil, thanks. Phil LeBeau. What do you make of this, particularly in comparison to GM, which we got yesterday?

45:50Karen Finerman:Well, I think they're talking more about commodity costs than GM did, And that's interesting because it's hard to believe it's not something that's going to hit everyone. I do think the free cash flow is way impressive. I do think that we knew about this tax benefit because GM's was bigger. I think we know it eight times forward. It's not dirt cheap relative to itself, but it's attractive. I think we believe this company is on the right path to being run. I still think GM is the buy of the two. Would you rather? Carter, chart version. They're pretty darn similar. For me, both are in the pair of twos category, so I wouldn't say there's better things to do.

46:27Tim Seymour:So neither. Neither. Two pairs of twos.

46:30Melissa Lee:Tim made fun of me, which is his want to do, but specifically about a 40-year chart that I asked for. Yes. Well, let's pull up a 40-year chart of Ford. Oh, boy. Because if you go back 40 years, Tim Seymour. Yeah, same price. And people do. Thank you, Carter. Thank you, Carter. You will notice, Melissa Lee, it's the same price. Legit the same price. Right. So adjusted for inflation is about 95 % of the value. All you need to know, the more you know.

46:54Tim Seymour:All right. Coming up, a slew of big movers in today's regular session catching our eyes, too. The headlines on Bloom Energy, Intel, and more. More Fast Money in two.

47:12Tim Seymour:Welcome back to Fast Money. There were a bunch of stock movers outside the MAG-7 that captured our attention today. Bloom Energy having its best day since November 2024, up over 27 percent after beating earnings expectations and raising guidance. That stock has doubled just this month. Intel also continuing its rally. Those shares up 12 percent today, setting another all time high. The stock has rallied more than 40 percent since reporting earnings just last Thursday. And on the downside, GE Healthcare dropping 13 percent after missing estimates and cutting full year guidance this morning. Carter, I think the key here, well, the moves higher.

47:48Tim Seymour:Can they continue? I know. It's quite with a sand disc and all this. But again, I have to repeat, but it is such a testament to respecting price. Meaning, think about it. BE was strong, and it got stronger. G-Healthcare was weak, and it got weaker. Momentum, relative strength, price-finding correlation. These are key parts of making good decisions when it comes to investing. But to your question, the extended ones, the sand desks and things, it's quite remarkable. All things come to an end. Hard to time that. We know what happened to silver. We know what happened to Bitcoin. This too will end.

48:23But right now, the momentum is hard to fight.

48:25Melissa Lee:Smart thing to say in bloom is to pull the ripcord here. But I got to tell you, given their guidance and given their EPS growth, the valuation, I mean, it's not ridiculous. It's expensive, but not ridiculous given their growth. So traded 18 million shares today, typically trades 10. I don't think you've seen the buy side capitulation yet.

48:42Karen Finerman:You know, with Intel, they're also doing some other interesting things on the capital market side. They filed a shelf. They're raising six and a half billion in debt. It's an interesting time for them to be going to market and buttressing this balance sheet.

48:54Tim Seymour:Up next, final trades.

49:24Melissa Lee:We'll be right back. They have figured it out. I like Walmart, by the way, in case anybody cares. They figured it out. You know what, Mel? They figured it out.

49:34Tim Seymour:Thank you for watching Fast Money. See you back here tomorrow at 5. Mad Money. Jim Cramer starts right now.

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