Traders go Brexit bargain hunting amid market sell-off


Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami’s wife, Linda Snow, works at Merck.

Karen Finerman

Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, WIFI long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.

Dan Nathan

Dan Nathan is long JD Aug call spread, long PFE, long TWTR, BABA Aug put spread, IWM long Sept put, XLF long Aug put spread, XLK long Sept put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long C Aug put spread, VZ July/August put spread, XOP Sept put spread

Tim Seymour


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Cramer: Don’t buy! Why the mass Brexit sell-off is worth riding out

Those potential losses are now off the table, as many oil companies have re-liquefied balance sheets by selling stock. Oil is now at $46 a barrel, which is very far from $26.

“That means the sell-off we are currently experiencing is NOT related to U.S. credit, and that is what makes this storm worth riding out. There is no systematic risk here; our banks will come out winners, no losers when the smoke clears, and it always does,” Cramer said.

But the real issue, in Cramer’s perspective, is that there isn’t much out there to buy. The SP consists of 20 percent technology, which has the highest exposure to Europe of any sector. Then there is finance at 15 percent, which is also linked to Europe. There was at least some hope for Cramer in the health care group’s 14 percent exposure, especially with UnitedHealth, McKesson or Centene.

As for oil, it seems to be trapped between $45 and $50, and Cramer has little faith in the group when oil prices are falling. He expects the price to fall further because of the stronger dollar.

The domestic retailers and fast food stocks were once some of the easiest stocks to go to in this situation. But now Amazon is crushing bricks and mortar retail. Thus, he recommended looking for “non-Amazonable” stocks, such as TJX, Article source:

Cramer: One IPO that proves Silicon Valley unicorns have value

Essentially, it’s a one-stop-shop for developers to add communication features to apps. Twilio estimated that its platform could be worth over $45 billion next year. It posted 78 percent revenue growth in 2014, followed by 87 percent revenue growth in 2015, and 77.8 percent in the most recent quarter.

Meanwhile, Twilio is growing but the company is still losing money because it reinvests all cash into the business. Cramer described its balance sheet as “pristine” with no debt, and more than $200 million in cash.

However, there are also some risks. Not only is there the lack of profitability, but it also caters to a relatively new and unproven market. Most worrisome to Cramer was the customer concentration issue, as Twilio gets 15 percent of its revenue just from Facebook’s WhatsApp. So if Facebook decided to walk away one day, it would take a chunk out of the revenue.

“I like the story and I like the stock, although I’d like it even more at a lower level,” Cramer said.

With this in mind, Cramer recommended investors to buy a portion of their position at current levels just in case the stock continues to skyrocket, and then wait for the stock to be dragged down by the next pullback before buying more.

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Two days worth of Brexit-related selling just cost investors $3 trillion

The U.K.’s vote to leave the European Union was a costly decision in more ways than one.

Between Friday and Monday, worldwide markets hemorrhaged more than $3 trillion in paper wealth, according to data from SP Global, the worst ever recorded. For context, the amount shed by markets over the last two trading sessions far eclipses the turbulent trading losses of the 2008 financial crisis, according to SP analyst Howard Silverblatt.

Approximately $1.3 trillion of that came from U.S. markets alone, Silverblatt noted. On Monday, the Dow Jones Industrial Average tumbled by more than 260 points, which fared better than the London Stock Exchange, where the FTSE 250 plunged by nearly 7 percent. The British pound has suffered worst of all, with the currency swooning, ending the session at a 31-year low.

Julian Jessop, an analyst at Capital Economics, said despite the increased volatility “it would be wrong to conclude that the world is on the cusp of another global financial crisis. Indeed, even sterling’s slump against the dollar is less dramatic when seen in its proper context,” he said, adding that the currency was fairly valued on a trade-weighted basis.

Even the wealthy haven’t been spared from the wrath of a capricious market. Bloomberg’s Billionaires Index noted that the world’s 400 wealthiest investors lost a combined $127 billion in Friday’s market downturn, and an additional $53 billion on Monday.

Brexit is the biggest

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Cramer Remix: Brexit is the dumbest financial mistake I’ve ever seen

Unfortunately, there just aren’t enough sectors in the SP 500 for Cramer to recommend buying stocks on the Brexit decline. The reality is that stocks are only back to where they were a little more than a month ago.

On Feb. 11, the SP was at 1,829 and the Dow Jones industrial average was at 15,647. Those levels are not reasonable downside targets, though. Back then oil traded at just $26 a barrel and many commodity companies looked as though they would fail to pay their bills, which could have translated into huge losses for U.S. banks.

Those potential losses are now off the table, as many oil companies have re-liquefied balance sheets by selling stock. Oil is now at $46 a barrel, which is very far from $26.

“That means the sell-off we are currently experiencing is NOT related to U.S. credit, and that is what makes this storm worth riding out. There is no systematic risk here; our banks will come out winners, no losers when the smoke clears, and it always does,” Cramer said.

And while stocks have been pulled down by the gravitational pull of a Brexit, Cramer found one bright spot in the market that managed to defy the pull of the averages and roar higher on Monday.

Twilio is the cloud-based developer of communications software that went public last Thursday at $15 a

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Derek Jeter’s ‘Players’ Tribune’ broadens ambitions with video series

the players tribune
Green Bay Packers linebacker Clay Matthews offers instructions to a high school football player in a scene from “Scouting Myself,” a web series from The Players’ Tribune that debuts on Tuesday.

These days, seemingly every digital media property is ramping up its video production. The Players’ Tribune is no exception.

The website, founded by former New York Yankees star Derek Jeter as a platform for athletes to circumvent traditional media channels (e.g. reporters), will launch a new weekly web series on Tuesday.

The series, “Scouting Myself,” will feature eight videos of athletes such as star NFL wide receiver Larry Fitzgerald and NBA world champion Paul Pierce surprising unsuspecting high school players in the film room.

“Scouting Myself,” is the byproduct of The Players’ Tribune’s partnership with American Family Insurance that was announced in January.

The Players’ Tribune president Jaymee Messler said that the lion’s share of the site’s revenue has come through branded content.

Last month, The Players’ Tribune announced a new corporate partnership with Budweiser that resulted in a studio space used to create short-form content.

The new series debuts not just at a time when outlets are placing their bets on video as the next frontier in web publishing, but also as The Players’ Tribune appears to be broadening its ambitions.

In the nearly two years since it launched, the site has become something of an intermittent viral hit-maker.


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Waldorf Astoria’s Chinese buyer to turn most of rooms into condos

You may not have heard of this Beverly Hills

The new Chinese owners of Waldorf Astoria hotel in New York plan a massive renovation that will turn much of the landmark hotel into luxury condominiums.

Anbang Insurance, which agreed to buy the property from Hilton (HLT) in late 2014 for nearly $2 billion, said Monday it is planning to close the hotel for more than a year and spend more than $1 billion to make the conversion. The current hotel has 1,400 rooms and a staff of about 1,500. With most of the rooms likely to be converted to apartments, there is expected to be a sharp reduction in staffing needs.

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Frontline tackles fraught police-minority relationship in ‘Policing the Police’

Frontline's 'Policing the Police' trailer

After a series of politically charged incidents involving law enforcement and young African-American men, Frontline’s “Policing the Police” provides a bracing and illuminating look at the issue.

Reported by New Yorker staff writer Jelani Cobb, this hour-long special presents a virtual primer on how a random stop can potentially go terribly wrong, as Cobb tags along with a Newark, N.J., police gang unit. In one indelible moment, an officer tackles and cuffs a young black man who insists he’s just going home.

The reason for the use of force? The man pulls away when the police rapidly approach him — as Cobb notes, a potentially instinctive response that is immediately perceived as a sign of possible guilt.

Despite the echoes of that sequence in the context of fatal encounters in New York, Baltimore and Ferguson, “Policing the Police” isn’t just an indictment of cops. As Cobb notes, the problems go well beyond that, from an understaffed 911 center — where someone literally must run hand-written messages from desk to desk — to how taking a single gun off the streets is considered a “win” in high-crime areas.

Related: Frontline explores ‘The Secret History of ISIS’ in new documentary

Calling relations between African-Americans and the police “a barometer of where we stand in terms of race in this country,” Cobb

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‘Daily Show’ gets social media scorn for Texas abortion tweet

daily show with trevor noah
Some on Twitter found a tweet from “The Daily Show” to be offensive on Monday.

“The Daily Show” found itself in the middle of a social media firestorm Monday following a tweet regarding the Supreme Court’s ruling on abortion rights in Texas.

“Celebrate the #SCOTUS ruling! Go knock someone up in Texas!” the show’s official account tweeted Monday.

The tweet was immediately criticized on Twitter for being offensive with Fox News contributor, Meghan McCain, calling it “vile.”

Others found the tweet to be unfunny saying they missed the days of “The Daily Show with Jon Stewart.”

“I sometimes think that the Daily Show just should have ended with Jon Stewart’s departure,” tweeted Alyssa Rosenberg, an opinion writer for the Washington Post.

Comedy Central’s satirical news show then followed up on the tweet by explaining that it was not meant as a promotion of abortions.

“Friends, we’re certainly not promoting abortions,” the show’s account tweeted. “Just excited about #SCOTUS reaffirming right to choose.”

Comedy Central did not immediately respond with further comment.

On Monday the Supreme Court struck down a Texas abortion access law in a 5-3 ruling. The ruling was a big victory for those who support

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