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tv   Mad Money  CNBC  May 2, 2016 6:00pm-7:01pm EDT

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higher. copper hasn't quite had the run that gold has had. i think you buy. >> it's been fun. it's been real. see you again tomorrow night. stay tuned, jim cramer's interview, the exclusive one with my mission is simple. to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. some people want to make friends. my job is to. short term versus long term. hedge fund manager versus lifetime share holder. when you contrast big name manager carl i-kahn's news last
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week with warren buffett's comments on air this morning, you cannot help but wonder, these two guys are even speaking the same language. yet their opinions person identified this market including today where the dow gained 82 points. nasdaq jumped .88% breaking the nastiness streak that has been going on for a long time. sell, sell, sell. we need to explore the concept. lately wall street has become as harsh as an angry eagles fan. people think that they have it coming these days. buffalo is about investing pieces of america and he can't shoe horn the fruits of america's progress into a single quarter or a single year. here's the issue. not everyone gets to determine. the hedge fund manager doesn't have the luxury of taking a long
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term view. one that buff ket maintain. you need deliver a strong performance year after year. take ib mitchell. it is down about 30 points on this investment. he's fine with it. i can tell you as someone who ran money professionally if i had ever faukd way about a loser stock on tv the vast majority of my investors would have pulled out their money in the next window. that's an unacceptable answer. you can't praise the stock without jeopardizing it. buffett defended a lot of stocks that have performed poorly. he can get away with it. it allows for short or even medium performance. even worse, the most diffusive praise this morning. one more unbelievably riveting, it was am skon. and the remarkable job he's done
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for a company whose stock warren buffett does not own. wait a second. he has a huge holding on walmart. which some would say is being eviscerated. that's amazing. buffett can say it. not a hedge fund. that means he can be candid without jeopardizing it. yet if the average money manager were to come on cnbc and say that he likes it, the moment he got back to his office the question would be, have you lost your mind? why are you investing on company being carved up by competitors that you clearly like more than the stocks you invested in? the investors would be clamoring to get their money back. last week carl icahn came on and he talked about how he sold every single share of apple. a company he had repeatedly
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praise in the tweets. he said he sold it because he was worried that the chinese sales and wanted a big profit. i'll never disagree with the stock splekss warren buffett embraces because he's made so much money for investors and for himself. i will also defend a guy like carl imkhan. he was worried about chinese. something any group wants to avoid largely because of the slowdown in china. however, how about if it is an 11 point loss on the way to a bigger gain? that's exactly the kind of thing that warren buffett wants. outperforming the stock market. they have different time which brings me to the point of tonight's show. i want to you ask yourself what your time frame is. do you share the long term vision, betting a valuable win over the course of multiple years? or do you drink from the found an of carl icahn and that might
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ruin the apple story? you need to answer these questions. i'm thrilled to be spending some real-time with tim cook, the ceo of apple. not for me to give you the risks or spell out the potential awards but for to you learn about apple and yourself. can you take a short term pain before some long term gain? a successful investor needs to be the story and how long it will take. apple's tim cook is right around the corner. so let's go find out. talk to eva in maryland. >> caller: hello. my teacher asked me what your thoughts on underarmor were. >> this is a classic example of long material versus short material. am i concerned about underarmor now that sports authority is liquidating? that kind of apparel?
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the answer is, i'm not worried about kevin plank. i think he gets to be able to do great. long term. love it. bits more than just finances. ask yourself what your time frame is. or "mad money." my exclusive with apple's tim cook. 53 million shares from the company. should you follow his lead? do not make a move until you watch this interview. and your port foal yoefl i'm sitting down with the ceo. and keeping your coffee hot with the packages of amazon? is now the time to buy the stock? stick with cramer. don't miss a second of "mad money." follow @jim cramer. have a question? send jim an e-mail.
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or give us a call. this car? came courtesy of james and patricia thompson. this tv? margaret and tom lee. the championship game ball? that was sebastian diaz. good guy. and all i had to do was ask for their money and pretend i was investing it. their life savings is now my lifestyle. female announcer: don't let someone else live the life you're saving for. find out if you're dealing with a registered investment professional at investor.gov. it's a great first step toward protecting your money. before you invest, investor.gov.
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i'm always telling you a stock like apple should be owned, not traded. sometime it can be very difficult. it is hard to remember what we saw last week. it was widely viewed as an okay quarter and they give you back guidance. that was on tuesday. then thursday afternoon carl icahn came on and. he was dumping his entire position. we need to remember that every time people have written off apple in the last 15 years, it has been a bad mistake. that's why i'm thrilled to welcome tim cook. mr. cook, welcome back to "mad money." >> thank you for inviting me. it is great to beer here. >> a really curious disconnect between what i read and here on wall street about apple and this. if you, it will be an impossibility to pry this from me. cold dead hand time. when i read the stories it seems like people think, it's over. how can it be that you can't
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have this ever? or the ecosystem, but it's dead. >> yeah. i think that's a huge overreaction. we just had actually an incredible quarter by absolute standards. 50 billion plus in revenues and $10 billion in profits. to put that in perspective, the $tn billion is more than any other company. it was a pretty good quarter. but not up to the street's expectations, clearly. what we're seeing is if people are upgrading at a different rate. a lower rate than they did last year. still higher than the year before. so we had this abnormally high upgrade last year as people bought into the imphone 6. and now we're comparing that with the other things going on that many company are facing with currency rates and economics et cetera. the most important thing is that
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customers love our products. they're using them and the satisfaction has never been higher. that's what is really important for us. that's the most important thing for the long term of apple. >> let's talk about the shorter term that has captivated the narrative. a there's no question that apple's best days are behind it. the company grew at astronomical rates. it is difficult and it doesn't exist. there's an obituary. >> yeah. i couldn't disagree more. here's what i see. we're in an incredible market. the smartphone market, eventually everyone in the world will have a smartphone. penetrate today is in the 40s. long way to go. emerging markets, the lt penetration is zero. we have great innovation in the pipeline.
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thing will incentivize you to upgrade to new iphones. >> i can't think of anything else that i need. >> but we're going to i have good you things that you can'tley without that you don't know that you need today. that's always been the objective. to enrich people's lives and you wouldn't, how did i live without this? >> why is the story not as talked about? you're a hardware company. it's done. versus what we know, that other than, say, the netflix bill, maybe the amazon bill. whether it be because i have a lot of pictures and do i the icloud back-up. the apple pay. why do people say this is a dead
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device? it is something that we belong to. >> i think in fairness, we didn't talk about it a lot until recently. services now is the second largest revenue segment at apple. it was for the last quarter and the first half of the year. so last quarter we were at $6 billion. you go buy apples far after the sale. you might subscribe to apple music. use apple pay, you might buy songs or rent movies. so it is all of these things. that's based on how many people are using our devices. and there are over a billion devices in useful this is huge.
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there's a number where we are thinking, of the average use each month? the average pay cue, it is not there yet. in the interim, china has fallen off. china which you said in the previous quarter was going pretty good. but the beginning of this last month, of the last quarter was not that good. has now become, clouded out everything else. right? wrong? you've talked endlessly about china. what is happening there and how did it happen so fast that many didn't see it coming? >> here's what we see going on in china. the imphone upgrade rate affects all countries. including china. the switcher rate in china is huge. 40% over the first half of last year and this year. this is huge. people switching from android
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smartphones to iphone in china. economy clearly not as strong as it was a year ago. softening. currency, weakening. so you have a confluence of items. some things that are more general that affect everyone. here's the way i look at i. two years ago, we had enormous sales. and so last year, last year we did even better. 80% better. so we grew 80% over the previous year. this year, we were down 7. if you look at i on a two-year basis, apple grew 70% in china. it is hard pressed to say those are not good results. the second leg down was a man, carl icahn was closely
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affiliated, talking about no brainer apple who says china is an issue. he sold it, blocking apple i-books. and was concerned ostensibly about china. i look at the different components of china. yes, upgrade. how about white box? how about there is an encroachment issue at the lower end? is that something that could have slowed it down? i think the smartphone industry. there's a difference between the different suppliers of smartphone. i think in the area we play, we're doing right now. i'm thrilled what we see with the iphone se launch.
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into the four-inch factor. that looks very strong. in terms of books and movies, what you're talking about is the, we did offer books and movies. we're offline. and what i can tell you, as we're working with the relevant government agencies and other businesses, we're pretty confident that we'll be offering it today. it is quite different if someone bought and it owned it long term.
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>> there were about 50 million people in the chinese middle class. five years from now that number will be almost 500 million. this is unprecedented. >> parsing every word of your conference calls, you did not talk about middle classification which made us feel something was wrong. >> no. it was my error for not talking about it. i could not be more optimistic about china. i think the long term thesis was, in fact there has never been anything like it in the history of the world. i'm as optimistic as i've ever been. lo lots of people.
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? this is another huge one. india will be the most populace country in the world. india has about 50% of their population at 25 years of age or younger. a very young country. people really want smartphones there. and this year, the first year lte begins to roll out. so many of your viewers here in the united states, they're used to using lte and streaming video. and hopefully they're getting a good experience there. in india, you can't do that. there is no lte. so that is changing. a huge market potential. >> let's stay right there. we'll come back after the break. our interview with tim cook, apple ceo, continues. coming up, you said you want to do even bigger deals. you're most excited about services. >> don't miss what the ceo of apple has to say. next.
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welcome back. we're here with apple ceo tim cook. this is "mad money." a huge buy back. a lot of people saying wait, they keep buying back the company. what has it done? your stock is down below where you bought the average amount. much higher price. is it a waste versus innovation? or is it really not a tradeoff? >> it is not a tradeoff is the answer to that. we first look at all the money that we need to invest in the company. r&d, in stores, the supply chain. all the areas. including mma and we take the money that's left over if we have some. and we do at this point. and we gave it back to our shareholders. we do that with dividends and buybacks. if you look at dividends, we
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have raised it every year. we raised to it 57 cents this time and we're very happy to give it back to our share holders. on the buy back side. we were still below. the last time i looked. below the average. and we ten to be only or tunistic. we don't have a regimented program. xx shares a day or whatever. why not wait? why say let all the hedge fugds blow it out. >> opportunistic means you buy when it is under value. >> how do you know fair not
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lunatics who believe this. they are looking at microsoft under bill gates. they're looking at, intel. they're saying, well, these guys were all fabulous. the next thing, it is over. let's look at how did we do in this quarter or the first half or whatever? what you would find is $50 billion. last year we earned 53 billion in profits. we're doing pretty good. >> that's important. >> we did what we said we would do. we said the revenues would be between 50 and 53.
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we said margins would be 39 to 39.5. we came in at 39.4. the thing that is different is the customers love the apple products. >> the relationship with apple doesn't stop when you buy an iphone. it continues. you might buy apps across the a.m. store. you might subscribe to apple music. you might use icloud to buy additional storage. you might use apple pay several days a week or every day. because it is so high, the likelihood that a person moves to another iphone is very great.
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>> the same thing with this service that you just mentioned. it seem like you're most excited about services. why not put it through this new device? >> could it come in services? yes. we bought company to help with services but kit come in other areas. we're fairly aquisitive. we haven't bought a very large company yet. he with generally acquire a company every three to four weeks on average. it is a rare month that there's not a company being bought. we typically buy for technology and really great people. we'll see.
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we're always looking. >> i don't want to beat the dead horse but the rap is that they're not innovating. we find ourselves wanting to buy the new iteration. you are a surprise company. it would be ridiculous to talk about the seven. there is no drama to intel. never any drama to hewlett-packard. how important is drama to you? i happen to know. you like movies and other things. >> we don't talk about futures as a company. we're fairly secretive. we don't talk about products. i will tell you that we're incredibly excited about this.
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if you look at the thing that were done, at the time they were done they were rarely ever seen like they were in retrospect. i think the watch would be like that too. ipod was a success but today it is viewed as an overnight success. the iphone was the same way. people were saying there is no physical key board. obviously nobody would want it. so i think in a few years, we will look back and people will say how could i have ever thought of not wearing this watch? it is doing so much for you. and then it will be an overnight success. >> i linked it to the second letter that icahn sent you. it was in the mid 120s. it was a trayser saying it is time to buy. he talked about 20 million watches and $40 million watches. when we see these, it is not
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your guidance. you never talked about number like 20 and 40 million. why do they run with it saying we're not making any projections like that. >> the way we look at it is to establish a new category. a smart watch category wasn't established. we needed to establish a category and we needed to roll out slowly. you can by it? 1,400 locations. you can buy iphones in the 200,000. we know a lot more than a year ago and you will see the apple watch getting better and better. >> okay. just for this last series of questions. i do need to talk about size. >> we need to know where you
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think we are versus this notion, the first quest conference call. i don't like to think value versus growth. i like to think where are we in a cycle? where do you think we are china, india, worldwide? developed, not developed, in terms of the need to have this? >> let's talk about smartphone first iphone. what i see is countries like india, no lte. 0% penetration. they are selling smartphones and we sell iphone there but you can't get the full value of it. >> and it is sxhom pops that you buy from. >> yes. because the retailers are not big retailers. a lot of work to do. but last quarter we grew 56% in india. overall macro worldwide, smart
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phone penetration is in the 40s. >> 40s, what point do they say, tim, 40 is 80 to these people. 40% means 80. they're looking at the developed world. no one uses your numbers which is odd. i see that it is finish asked it won't be your bailey wick. i knew he had to refute this. >> here's what i would say tom. i heard the same thing about china. and our revenues from china were larger than any other foreign company. in greater china, revenues were $50 to $80 billion. it turns out that people in every country in the world, there is a segment of buyer that twanlts best product and the best experience. that's what we're about
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providing. and we did fairly well in china. we've double fairly well. despite the short term turbulence, we're doing very well. >> short term turbulence. >> start again. >> it's huge. now we're putting energy into india as well. and there are other markets where i think people sitting here in this country look at it through just a lens of what's happening in the united states. there are a lot of people in the world who don't have the pleasure of owning an iphone yet. the number of people who switched to a iphone so
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switchers hitting new records. in china they were up from last year. so switchers, we feel that's really important. what that says is the market doesn't need to be growing hugely for apple to grow. our share is, the mini market is low. >> if that's the case, i want to know whether you think wall is the is dead wrong. it looks at it. 922. going to 840. maybe back to $9.10. they're looking at it and making the judgment that stocks lose it if you can't get the numbers up. and they're saying they're not giving any window. why should we buy? in the end, a little bit, why
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should we buy when we know that stocks that have this trajectory have hurt us? >> yeah. wall street is a collection of people. so there are many different viewpoints in there. i'm not sure there is a common one. that is the beauty of it. there is a diverse group of thoughts. in term of what we think. which is what i can really attest to. we're reasonably good at estimating i'm not saying we will always be right. i think if you look back, we're pretty good. >> yes. that's why this quarter there's a misperception that it was a miss. and next quarter is down. i'm just saying, last question. do i have any confidence that this will be up? >> at the last quarter? i'm not projecting quarter by
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quarter. what i can tell you is backing up and looking at the larger picture, we're in great markets. we had huge markets. we have great markets in the pipeline. people love our products. they love using our serves. all of this to me equals great opportunity. now your viewers have to decide what they want to do. this is how i feel. >> i say, don't trade it. own it. tim cook, ceo of apple. coming up, product powerhouse? rubber maid. thing like mr. coffee and sharpie under one roof. does the future look bright for this mammoth merger?
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i've been telling you the company known as rubber maid is one of the strongest out there. and then it got much better when they announced it was more than
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100 bands. and it was true consumer products and household goods powerhouse. that closed a couple weeks on on april 15. and the newly created had a spectacular quarter. let's check in with michael paul. the ceo of newell brands. they're reporting excellent numbers. >> good to see you. you have a very exciting aisle by aisle take away here. how is the merger going? it looks like both companies had great quarters. >> we've hit the ground running. i just came from a meeting of the top 100. on the other side of the river. we're coming together. getting to know each other. and we're looking for all the opportunities. i know you'll say, this was the best.
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it is test to the progress we've made. 5.6% growth in this environment is a good one. we want to tap the best of the came builts. as you can see, this has your smiling face on it. >> for father's day. >> this is a great concept. you can send in a picture of whatever you would like on the jar and it would be customized. for weddings. prom parties. >> fastball as the particular. cross selling. acceleration. leader at all categories. these are some of them. all coming together? >> all of this is enabled by
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scale. to take capability that's both have to offer and extend it past the total portfolio. >> there are parts of it that people don't realize are growing so quickly, i have behind that he sharpie. international for this. >> yeah. the opportunities really remarkable. a $21 billion cat gerry for the writing industry. and we've got the leading share position. but any brand of competitors you look at. the total market is only 36% of the market share. so there is 30%. so companies like china, which will be the leading in the world. we enter into this china with
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paper mate. >> there are at love questions about culture. we know, culture jargon is not as far as we thought. >> we have different business models. but it is very, very similar. they just want to sell to consumers. build shares every day and get things done. so they're truly committed to executional excellence. both company have that operational grit. i think the focus of our energy will be around growth. but an enabler to growth is to get the company as lean and as efficient as possible. we have 500 million available to us. we still have $300.
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>> so it sounds like what you want to do. you said you'll fix. if it doesn't work, you will exit. you're not guaranteeing anything. >> our inclination to to get. it is one of our fastest growing, most valuable that we have. >> i talked on uber. there will be special uber lines. >> all kinds of opportunity in the world. on baby gear. if we had walked away from this, it would have been a big mistake. bad for shareholders. if we can't, we'll find a buyer for the business or we'll exit the business. >> this is the new consumer giants that i've been looking for. newell brands. "mad money" is back after the break. wednesday, cnbc at sohn.
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the investment event of the season. my mom loves giving me advice. she even gives me advice...
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billion. paper business is as close as they get. i don't think they would make this merger unless they believed it was about to get a lot stronger. when you consider that they deliver a magnificent earnings last week despite weaker than expected sales. just imagine how well they can do when the economy is on the world get better. let's take a closer look with mark sutton. more about this acquisition. welcome to "mad money." >> to see you. >> i have to tell you. i had fun talking about the initiatives and the idea of sustainability. tell me about the synergy here. this is technology. >> it is all about absorbing products. a the love it goes in medical devices. diapers and other absorb dlenl. and this fluff the has to have retention. our business is good. the acquisition in the
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warehousing business. >> a lot of people worried about ant-trust. allay some fears. you have, the manufacturing base tends to be heavily concentrated in the u.s. because of the software fiber we have. the the opportunity to combine these two companies and we believe it makes our company more firnlt. >> my dad sold craft paper. one that has to do directly with food. and the idea, what's in the package these days comes one the call. protein. just talk about this. >> we really enable commerce to move through supply chain. depending on the product, that can be a pretty technical challenge. you pointed through the climate shield product. we have now water proof coating sthat are recycleable.
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in the past we had issues with being able to recycle them. we made 2 billion of them. that has kept almost a million tons of fiber out of the land fill and was able to be recycled. >> let's talk about that. i'm a believer that the next generation will invest the way my generation did. ip seem very committed to the notion of sustainability. the companies that aren't won't get investors, i think. >> it is kretally important to us. it is foundational to who. we we believe in taking renewable natural resources. and adding value to that and making products that are sustainable and nm cases at the end of their life, back into the system. we believe that stands the test of time. it helps our customers tell their sustainability story. >> at the same time, you've had a really nice pick-up in business. across the board things have gotten tighter and better. the stocks are up big. this is an industry that often
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shows you. it must be getting better. >> our best indicator is the corrugated box. and we've got some growth this year. it doesn't sound like much but it is right on top of gdp for the last year or so. it has been lower when gdp was lower. that is really good healthy growth. different segments of the economy. whether the food segments or the online distribution are growing. and corrugated plays a really important role. >> anyone who has been around paper knows that energy is important. it must be a good time for you. especially in our energy system. remember we generate about 75% of our own energy from wood. we are a green story in and of itself.
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is it going to go up? is it just going away? styrofoam? >> you know, i have some millennial kids and they pay attention to these things. and i think our sustainable packaging goes a long way. if you're going to produce a product, farm it sustainably, grow it sustainably. i think the final equation the consumers is sustainable packaging. 40 on 50% of our dividend. >> that's what i want. that's mark sutton. chairman and ceo. great acquisition and a very, very good quarter. stick with cramer.
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you wouldn't take medicine without checking the side effects. hey honey. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck.
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cowboy andy? >> i thought the stock was oversold. it wasn't that bad. i'm a buyer of zero okay. >> hey, jim. a big boo-ya from san diego, california. >> love it out there. what's going on? >> biotech therapy. >> way too ricky for this! >> let's focus.
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>> mr. cramer, boo-ya. >> i like them all better. >> hey! my ticker is dss. >> i like it. douglas. >> i'm calling about sherwin williams. >> i like it. in home depot. cramer and the weather is perfect. it's planning season. in michigan. anthony? >> yes. jim. i would like to know what you think. >> starting to feel pretty good about that 11% yield. it may be a good one. a new policy. let's go to sy in minnesota. >> good day, mate. i'm from minnesota.
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my stock is 3d systems. we have to wait to see what the quarter is. >> arnold in hawaii. arnold. >> aloha from maui. >> yeah. you know what? we don't want to do it. we've got too many things on our mate. that's the lightning round. >> the lightning round. sponsored by td aameritrade. hey guys, i want you to meet my fiancée, denise. hey. good to meet you dennis. my m...about my toothpasteice. she eveand mouthwash.ice... but she's a dentist so...i kind of have to listen.
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she said "jen, go pro with crest pro-health advanced." advance to healthier gums... ...and stronger teeth from day one. using crest toothpaste and mouthwash makes my... ...whole mouth feel awesome. and my teeth are stronger too. crest-pro health advanced... ...is superior to colgate total... ...in these 5 areas dentists check. this check up? so good. go pro with crest pro-health advanced. mom's right...again! herthey work hard.ade, wow, that was random.
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random? no. it's all about understanding patterns. like the mail guy at 3:12pm every day or jerry getting dumped every third tuesday. jerry: every third tuesday. we have pattern recognition technology on any chart plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. td ameritrade. it sounds like tim cook is buying it. there's always a bull market somewhere. i promise to find it just for you. i'm jim cramer and i'll see you tomorrow. [ soft music ] e.t. phone home. when you find something you love,
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