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tv   Mad Money  CNBC  March 18, 2020 6:00pm-7:00pm EDT

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>> with a few minutes left in the show i want to leave you with good news walmart hitting an all-time high earlier today and you know what? stocks aside i want to send a big from cnbc to all of the workers working all night, all day long in tough conditions to keep the store aisles full for the stuff we car>> my mission ie 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. welcome to "mad money" and welcome to cramerica a lot of people want to make friends, i'm just trying to make keep you from losing money my job is not just to entertain but to educate and teach us so call me at 800-743-cnbc or tweet me @jim cramer
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in times of crisis, and with the dow plummeting another 1338 points, s&p plunging 5.8 and nasdaq down 7.0% we're in a doozie of a crisis you simply could not do enough to help make things better our government should always error on the side of doing too much in these situations because you don't beat a pandemic by thinking small not unless you get very, very lucky. so far we -- we've been about as unlucky as it gets everything is going wrong at once in terms of being constructive let me tell you what i think needs to happen to stop the tsunami of selling in your stocks in your portfolio when i say we need to think big, i mean huge, it was terrific to see a bill pass the senate with massive bipartisan supreme copo that help the cause.
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the government has said that bars and restaurants should close down payrolls a payrolls hotels, airlines $59 billion, all jobs are in danger and many are already gone we need to write checks directly to the workers we can't afford to tear the fabric of society because of some virus that might be beaten in a couple of months. nobody has done enough -- anything to deserve this this is the time to throw money at people. lifelines. and we have to do it fast. if that means we have to send checks to everybody in america, it takes longer to figure out, say go for it. worse case we help some people who don't need it. that is a big problem. and mnuchin spoke today in the morning, he said we should do it, make the payments. i want to make them weekly otherwise when this is over, only the big chains will be
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left they'll be the only one standing there is a reason why the stock of walmart was up to an all-time high when the market was getting clobbered. think about that we should be handing over cash, not loans. who wants to take out a loan for your business if it doesn't make money. i now own a closed restaurant or bar. it would be one thing if we're open but we're not. the government won't let us. next big thing aerospace. boeing is responsible for our greatest export and cost of saving them, $60 billion we should pay it but take a big chunk of change in equity. but for more help, another big think. the new normal deal. this is kind of like the new deal a $2 trillion government bank funded by a $500.30-year treasury auction, we need 30 years and a social security
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fund right now it is cash a lot of countries have sovereign health funds no investor has the resources to save the companies aside from the federal government once this pandemic is over most stocks will bounce back with a vinkence there could be the biggest single buying opportunity since the financial crisis but only the government has enough capital and wherewithal to tie these companies over i don't know if it is the bottom but the government could determine. it could still go wrong but you know what i mean the objectors are in my head get out of there but we should impose, mark cuban, good call they have to accept a government board member put that person on the audit committee. the same concessions to any other shareholder. don't think of it as state interference, think of it as investing. give the federal reserve unlimited authority to buy every corporate bond it believes it is
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worth saying i know we're supposed to dislike that i don't care your company is saved. and the fed should keep the bank the credit lines, those stocks are going to sheer hell. one of the major pressure points collapse in oil prices it is a manmade collapse that is yt no crude plummeted, the russians and the saudis started a price war, we are the target because they're just busy being very petty i think it is in our national interest to get the price of oil back to $30 and the thrifty ones will do okay and letting the irresponsible ones go under. $30 oil is cheap so i think the president should pick up the phone, phone saudi arabia and explain there will be longer be under our protection
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unless they save a chunk of the industry and i want energy independence for our nation. next big thing let's get all of the kwaurnts space we need. commandeer hotel rooms there is tons of them. not that anybody is using them buy as many motor couches as ssible and start building bases and hundreds of thousands putting them together and show the world what we could do, not just the china looking all powerful, thanks we know there is a backlog of covid-19 cases this market will go lower, trust me but if we build with american-made equipment so everybody who gets sick could get the help they need president trump is a real estate developer. we're going to have unemployment in this country. this is a great time for a big public works program next we're waiting on our scientists to develop treatments for this vaccine we should stop at nothing to help at a critical trial make sure they get the patients they need.
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government take care of it and writing the checks once with you find a drug that works we should manufacturer it en mass so it is ready the moment that the test does clear through every single authority last one if i have to hear about one more person about how hard it is to get tested i will pull out my hair we need to get the tests and get the results back in four hours at the close, guy does it in 10 minutes. get something quick. this this way you could go back to work until the next time you need to be tested. commerce is on hiatus, full stop if we want there to be an economy to come back when the hiatus is over, we need to think big until we get some of the changes. i bet we'll keep having days like today where hunting for a bull market like i say, always finda bull market somewhere, it is like searching for a needle
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in a haystack. let me make one last argument. if you don't want to help your fellow citizens, how about this. we should do them to keep china have em -- eclipsing the united states they're already beaten the virus as we'll hear from starbucks tonight. it is going to be permanent. if we don't get our act together the bottom line, we have no choice but to win. it is time to dust off your churchill and study your fdr the only way to beat this pandemic is war footing. there is no danger of doing too much no one is going to criticize secretary mnuchin or chairman powell or the president because -- nobody is going to criticize him because he spent too much money, they will criticize if you spend too little there is a huge risk of doing too little so please, everyone, think big tj in california
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tj >> caller: booyah. mrna, maderna, they tested a vaccine on the first patient, they're at 20%, what do you think. >> i like the people from moderna. i like the -- look, this is one that has gotten one of the -- like with zoom and moderna is all we have and we interviewed them twice i always want them back. gilead come back on the show but they have great technology and doing a good job i like them. diane in new york. >> caller: jim, hi. >> hi, diane. >> caller: given the virus that is surrounding us i'm wondering about a stock called teledoc. >> i like teledoc. we recommend it for our stay-at-home situations. we have a private company doing very well. medicare put out a release about how they're going to fund tele -- i can't believe i got the medicare release got it on email. made me feel very old.
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how about amil in illinois. >> caller: hey, jim. with everything that happened this last month i need a booyah. >> it is better than hot sauce in the eye what is going on. >> caller: my question is about twitter, with the cash and the conflict between jack dorsey and that being settled and everyone stays inside and the presidential election, why is twitter still following the overall market sell-off. >> first of all we have to be careful because they're not taking a lot of political advertising there. but at 22, that is an interesting idea that is the problem. i did a conference call for club members and everything i hit that is interesting, that is interesting. there is a plethora interesting but twitter is interesting and the stock has come down and we had sheryl sandberg on last night and facebook has been obliterated.
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there is no danger into doing too much only in doing too little i'm sitting down with the ceo with starbucks and the big buyback as grocery store shelves are empty could the maker of spam and jiffy be more and as more people work from home, i'll talking to logitech cho see how it is helping with the new deal normal. stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. awesome internet.
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...simple, easy, awesome. [ barking ] earlier today one of crame faves, starbucks held the annual shareholder meeting but did it online because anything else is irresponsible. this is the coffee's 50th year
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and now what are they doing to stop the spread and help association ats. i think starbucks is being a model employer they're giving catastrophe paid and a new mental health benefit that also extends to families. the company shifting to a to-go model in north america to cope with the pandemic. there was good news. 90% of the stores in china are now back in business which is what i find reassuring don't take it from me. let's go to kevin johnson, the president and ceo of starbucks to learn how he's navigating through this crisis. mr. johnson, welcome back to "mad money." >> hi, jim thanks for having me today. >> and in all of the craziness, could i wish you a happy 50th. it is a pretty big deal. >> well, thanks, jim we're approaching that 50th and we kind of laid this out as the road to the 50th so we're within 12 months and we're right now we're focused on our priority which is ensuring for the health and well being of our starbucks
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partners and the customers that visit our stores we're working hard with local health officials and government leaders to help them as they work to contain and mitigate this virus and number three, we're working hard just to show up in a positive way in the 32,000 communities where our stores are located around the world. >> i was reading some research from about a month and a half ago and talked about the 15 to 18 cent head wind for china and i read your comments today about china, it is a river, it can be crossed. tell us about china and how that could be what could happen to our country. >> well, this is part of what gives us great confidence in how we're navigating this globally it is been about 60 days, in fact i think it is day 58 since we started working on this in china. and over that 58-day period certainly we went through the valley and closed stores and
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implemented new safety protocol including this to-go option in the stores in china. and over the last few weeks we began reopening those stores and we said two weeks ago to our investors, we have 95% of those stores open. all stores in china 95% open by the end of march and tracking ahead of that plan so as we've looked at this, clearly it gives us great confidence that the strategy we've taken and the approach we've used in china is working and so china is on the uptick. now certainly it will take time for customers to keep growing. but we have a model and china is recovering at or slightly above the model that we put in place that gives us confidence and we took all of the learnings that we had in china and we have now applied them into the united states and every other market around the world and the learnings are, number one, if we implement the increased cleaning procedures in our stores and the protocols
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around that, if we go to the to-go model where customers could order mobile order or through a drive-thru or in the store for takeaway, they take their beverage and food out and don't congregate in the stores, that combined with closing stores, in the u.s. we've closed mall stores and other stores in areas where there is clusters of outbreaks. that model works and it worked in china we're here roughly 60 days in and seen the v curve and now on the mend yesterday i got the word from bell lindsa wong in china that we have opened stores in hubei province >> they are ahead of us. perhaps we could do what they did without the martial law. how do i know when i go to the starbucks that the person behind the counter is healthy there was an incident and i want to be sure and i also worry, while i'm waiting, i have people ahead of me and people behind me what do i do
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>> well, first of all, we have worked very, very hard to make sure we prioritize taking care of our partners. and we call everyone that works at starbucks a partner and in terms of taking care of our partners, the first thing we did is we have a sick -- a paid sick policy that we extended for the purpose of dealing with covid-19, which means any partner that has any symptoms or feels like they might have covid-19, they stay home and we fully pay them if the partner has tested positive, certainly we pay them. if they haven't had a test but just suspect, we've either been exposed to it or feeling symptoms, they stay home and we pay them if a partner is even caring for a loved one who may have been exposed or has been confirmed to have covid-19, we also pay them for that so we've enhanced all of the sick time so a partner never has to choose between health and work they always choose health and they stay home that is number one number two, we've worked with
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the cdc and other health officials to make sure the cleanliness in the stores and things are wiped down on a regular basis at our point of sale we have partners wearing the rubber gloves dealing with cash so we've put sort of social distancing policies in place that we learned in china in our u.s. stores. and as we've implemented this to-go model, customers come in and take their food and beverage and they leave and that model has proven to work in china and it is working in the united states. >> so, kevin, that is exactly how i'm hoping because that is where i go where i go for my coffee there is another issue that got sticky a good friend of mine mark cuban questions the notion of buybacks at the same time your stock has been cut in half my travel trust is on starbucks. i'm grateful that you're buying because it shows me that you think it is cheap and around this level you said it is cheap and then caught a double what is your view as a person who is a model corporate citizen, i will say that, on
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buybacks as the right thing to do and why this buyback right now? >> well, first of all, let me say why we're so confident number one, what we did in china worked and we're now applying that in the u.s. and tracking that in the u.s. that gives us confidence number two, we have a strong balance sheet. and all of the financial resources we need to navigate this situation and come out stronger as a company. that said, our board yesterday approved the quarterly dividend of 41 cents a share and they approved our normal share buyback. it was not -- we approved yesterday was not anything above and beyond our normal share buyback that we'll do over the next 18 months the share buyback that was approved will take us through the end of fiscal year 2021. look, we have a strong balance and a triple b investment credit rating and if you look at the last earnings call we had $3 billion of cash and another $3 billion line of revolving
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credit so we've modelled every possible scenario that we think could happen even extreme scenarios and we're going to be just fine. we are resilient and we thought that through from our operating in our stores and resilient on the balance sheet and we're going to be just a responsible thoughtful leader as we step by step go on this journey and do the right thing starting with the right thing for our partners and our customers and all stakeholders including the communities that we serve as well as loyal shareholders. >> you've been an ambassador and in china and in the way you treat your partners, can we get others to follow you i don't know how you necessarily do that. i think you're a step ahead of the government how do you get the government to be like starbucks? >> well, i got to say, through this covid-19 it has really dramatically increased the amount of dialog that we're having with government, both at
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federal government and state level and central and provincial level in china and local health officials and it is a strong collaborate relationship look, the entire planet, every human being on this planet is united in a common cause to stop the propagation and mitigate this virus so it gives us a common objective and from that i think we're continuing to both learn from and teach others how we can better work together so right now we're trying to pull together the content and information about what we learned in china and i'm talking with many, many food and beverage leaders in the industry and sharing what we've learned with them. and that includes how to take care of people at a time of need and so we prioritize that and we encourage others to do as well. >> kevin, thank you so much for coming on. you've been calm in a storm. you've done just a fabulous job. i agree with you, buy the stock cheap. i said it is cheap what are you going to do
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try to buy it at $37 great job and thank you for being a good guy and for saying some good stuff. we needed it good to see you, kevin johnson, thank you. >> thank you, jim. >> well, i feel better "mad money" is back after the break. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere.
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quarantine is that what is happening? let's take a closer look with jim see from hormel which does such a great job the companies faring in the stay at home world. mr. steed, welcome back to "mad money." >> jim, thank you for having us. it is a pleasure to be back with you. >> my wife lisa was at the store on saturday like everybody else and i come back and there is literally a mountain of skippy and i said why did you do that and i said because that is what you do and i try to get a sense and but why. because we all know. why do we all know this is what you buy in a quarantine. we've never been quarantined. >> well we do know in the current situation, so many consumers are looking for good high-quality shelf stable products in the case -- just in case their quarantined, they want to make sure they have good high quality products that will last and we're seeing that across the country. we're seeing that in all of our
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retailers and it is across all of our brands, all of our business it is spam, it is skippy, it is apple get and jenny-o and center of the store or refrigerated, we're seeing a significant up tick across so many of the businesses. >> so many things are falling apart in this country. i think what is interesting is the importance of food supply availability this is something that is still working. how come >> well, i'll tell you why it is working. it is really because of the incredible team of production professionals. i know in our facilities they're just absolutely amazing. there is such a spirit of responsibility and just an obligation to know that we play a critical role in the food supply and consumers are counting on us but i'll tell you, we're not alone. the food industry has stepped up as you knew it would so we're really proud of our production professionals but it is not just us it is the entire food industry
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that knows the country needs us and so they're working tirelessly to meet the demand of our customers and our consumers. >> there is also -- an analyst in jp morgan, a good person, has a sell on your company and they're worried about the african swine fever in china and what they call a head wind hasn't the tail wind of the stay home economy obliterated the africa swine fever. >> i think that was top of mind three months ago the world has changed dramatically since our last earnings call when we were talking about that as we're thinking about how the world is changed, it is making sure that we have good, quality products available for consumers. the other thing we know that has changed is the food service industry, so the dynamics in that industry has changed and we're doing absolutely everything that we can to work with our distributor and operator partners to make sure that we're offering them
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innovative and creative new product solutions as they go into the new world of delivery and takeout in a way they never have before. >> there is another way to look at this problem. china, how are your operations there? >> actually, i heard this morning from our team. there is actually a return to normalcy and so our plants are fully staffed, what we're hearing just out and about is that people are in the communities, retail business is strong and the food service business is really starting to bounce back. so there is another side to this and obviously we've got to get through the eye of the storm but we could look to china and see that we can and will come out of this. >> if we could just hold on and people could just hold on to the stock. i can't ask anyone not to lose money. so i have my black pepper spam i was making a joke yesterday about the pumpkin spam i thought it tasted good i was just having some fun
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the teriyaki spam and the millennials now staying at home and supposedly trying to get us sick, they love your stuff now what is the affinity, why do they like the teriyaki and back pepper and the different varieties. >> well, they do and we don't want to be self-serving about this but the fact is even before the uptick, spam was on demand for the sixth year so we've hit our stride with that brand even though it is an icon, 80-plus-year-old brand it is connecting with today's consumer that it never had before it is probably more relevant today than it has ever about so they're using it as an ingredient, they're frying it. they're using it multiple different ways and i think it just speaks volumes to how we've been able to build up that business and keep it relevant for so many
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years. >> for 129 years strong, incredible financial strength. but also a heart you're donating to hunger because of coronavirus, correct? >> yeah, we are, jim and the first thing you touched on was our incredible financial strength i mean, we've got a rock solid balance sheet, incredible cash flows and that is really our message to our team here, is there is not a company that is better positioned to weather the storm than hormel foods. that is what we're made for. it is 120 years -- 129 years of incredibly rich history, we're compassionate and empathetic and generous and we know in a time like this our communities are counting on us more than ever so we know that we have an obligation to take care of those who take care of us and this is the beginning of our ability to help during this crisis. and it is a million dollars donation to help with the food insecure and, again, we hope it is the first step in making a big difference
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>> last question i've got in my hands hormel chili with beans and it said it is the number one selling chili in america this is as pure what we call center aisle food. we all heard to avoid the center aisle, no one goes there any more could this be an actual change of where people go in the supermarket? >> well, you know, we never subscribe to that theory to begin with, jim. we never bought into the story that center of the store was dead we had a number of categories that were performing well before this uptick. and we believe it will continue and so when you think about spam, you think about skippy, you think about hormel chili and our great authentic mexican products, consumers were going there for our products and shopping the categories. obviously this is a chance for so many of them to reconnect with them. it is not the preferred way. not how we want consumers to reconnect with them. but we know that we have a role
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to fill in the supply chain and we take that responsibility very seriously and in the midst of this crisis what leaders do is they lead and our entire company is taking that very seriously. >> gotcha. all right. jim, thank you so much for being a stall wart and for being there and having an unbelievable stock that we love because of your dividend policy. we didn't get to that. that is next time. thank you so much to jim steed president and ceo of hormel. the only one we eat is skippy. we'll be back. w?w?uhi?só'ñó
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we need to talk about the brightest spot in this dark and stormy economy well, it is the stay at home economy stocks many have been higher but some have been left behind. logitech is a hybrid here. like keyboards, mice, headphones and mobile speakers and remote control and high-end gaming. and this stock has been hammered down 23% from thes at the end of january and the supplies are a mess and they cut the earnings forecast this stop wouldn't be enticing but it does fit the stay at home
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thesis you could set up a quality home office and the kind of gaming equipment that could help you be entertained when you are quarantined and the averages were crushed again today logitech finished in positive territory. what does that mean? let's check in with bracken darrell from logitech international to get a better sense of what the new normal means for them mr. darrell, welcome back to "mad money." >> jim it is great to be here thank you for having me. >> so bracken, first of all, this is obviously a terrible time for everybody in the world. but i'm wondering if there is something that is changing it turns out that we could work well at home given products that a company like logitech makes. are we ever going back to the way we were? >> you know, in our last investor we went through the three growth businesses which are about 80%, 85% of our portfolio. video conferences or video everywhere is one of them. the desktop is the second and gaming is the third. and think the reality is that we
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said there is a secular trend for all of them moving in the direction of more and more and one of the reasons for that is there is more and more remote work work from anywhere happening we didn't expect to accelerate behind this pandemic our products bring community and connection to people when they are at home alone. working with other people. and so i really think we're not seeing a change in direction, we're seeing a dramatic acceleration in the direction we believed was happening any way. >> one of the things i've learned is that kids sometimes do better school work at home if they have the right equipment. fanciful or maybe it makes sense? >> yeah, i think kids do better work at home next to their mom or dad at the kitchen table like i was growing up and big kids like you and me also often do better at homeworking there. i had a meeting this last week on a video call, first time by video, every single person was alone in the video call using our webcams and it was the best meeting we've had.
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and we surveyed afterward and we're going to keep doing them that way. >> go over why that is because i've been torn look, i'm not going to be existential on the show, i'm a high five and a fist bump, all of the things that you learn from when you were in high school it is a little bit solace, isn't it >> here is the thing do i believe that the future is all of us working alone in rooms, no. but i do think there in a world where it is bad for the environment to hop in your car and drive around, it is super convenient to be home with your kids when you want to be and have that flexibility and i believe larger and larger percentage of our work lives will be working from home or from my why -- from anywhere people thrive on it. but you could have an amazing experience online in a casual and can do almost everything except give you a fist bump from the comfort of my kitchen table.
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>> well, you know what, it is tough for me the stock was up today i know we are intra quarter and zoom ved up another $8 but it is a part of your business, right. >> at the end of the day, we said this a couple of weeks ago, the big driver of our business, the three drivers of our business, video everywhere, that is where the world is headed, was headed before and headed there now during the coronavirus and it will be an acceleration beyond and the desktop is the next. our mouse and headsets and webcams and people are duplicating what we have at work and the third one is gaming. i heard that steam on saturday morning broke a record, had 19.7 million people sign tainus -- simultaneously playing video games online so we're helping people stay connected and build community as we go
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forward. >> i have a daughter who teached english in a middle school in madrid and hasn't been able to get out of her apartment i have to tell her to get wired and play some video games because she's gone stir crazy. >> i'll tell you one of the things we're doing now, we're putting together a package with partners to try to help teachers like your daughter in select countries by giving them a webcam or a headset free or discounted price so that is our game plan we want to be a positive force during this difficult time >> well i think that is your nature i've come to know you over time and the good guys do win it is terrific that you're in a place to help people beyond just sell stuff and we love your equipment and the gaming business, in touch with a friend that said listin, i have to get ahold of nvidia and he does online gaming and we need the clips. so you're in and three trends are what this market wants and your stock has come down a lot i'm going to tell people, listen, stay at home economy,
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you could do logitech as well as you could do zoom. >> well, we partner with zoom so we're part of that zoom story. and at the end of the day, as you said, our three big businesses, all of them are driving a long-term strong secular growth trends that are accelerated by this current environment and we're really here to make sure that people have what they need whether they need it so they could stay connected and stay part of a community while they're alone. >> i want to thank you for coming on. again, stay at home economy is the continuing theme for the rest of the year, because it will not end when ends that is bracken darrell the president of logitech. thank you so much. good to see you. >> thank you, jim. absolutely i watch zoom go up every day and i'm thinking is there another zoom but look at this logitech. they're doing pretty well. "mad money" is back after the break.
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>> announcer: lightning round is sponsored by td ameritrade >> it is time. it is time for the lightning round. and then the lightning round is
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over are you ready skee daddy we'll start with eric in pennsylvania eric >> caller: jimmy chill, how are you. >> the chill is doing well how are you. >> caller: good. you're a true american hero. long time follower and beginner investor looking to understand to work and learn remote is lrn a buy? >> it is a great concept but if you want to do remote i'm going to send you to zoom. even though zoom is up a lot they are doing so, so well to brian in colorado brian? >> caller: professor cramer, i heard some pretty disturbing comments about blackstone today. what is goingvery professional.
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[ technical difficulties ] i'm a long-term investor and what i'm looking to add and i've begun adding today to my portfolio. it is uber >> well we're trying to -- look, we got to be like the financials have to be so steady here. i got triple a. that were shedding points. so as much as i like to drive uber, not a lot of great stocks there really well and that ladies and gentlemen is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade
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this was another horrific day for the averages but it was absolutely soul crushing for the restaurant stocks five cruise lines, no one is interested harder than the restaurants. they employ a lot of people. doing even worse than the airlines state and local governments are telling restaurants to close because we need to stop the spread of the pandemic that is the right call even though it is ruinous for the businesses especially roughly 15 million people nationwide. nearly a tenth of the total work force. not all of the jobs are in danger
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you could still do takeout and delivery and massive layoffs will get worse and i heard a ton of letters and now they're gone. we're going off the charts a little segment here with explosive options. he's the do it behind the suite.com and wrote a great book called "know your option" and wee look a couple of the majors that we -- that you dine and you have a waitress and stuff or a waiter brinker and darden these are the charts of the pain possibly even the charts of their destruction. you know darden is the parent of olive garden they employ 178,000 people blinker is the parent of chili's and their stocks have been wrecked and there is more pain ahead. at some point people will come back but that could take longer thanyou expect and even when the clamp down ends and that
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could take weeks or months people will still be worried about covid-19 you don't need to hear it from me i'll let the technicals tell you the story. look at the symbol eat, which people aren't, a week ago it was $21 and now it is $7 and less than 7% of the company's value. do you think it could bounce brinker collapsed starting in late february and has been downhill ever since. the relative strength index and moving average convergence and a couple of tools that measure momentum they are both extremely bearish. no bounce, no bounce shaking money flow look at this measures buying and selling pressure it is negative since late january people extrapolated covid quickly. the stock keeps falling. and why not. the government is forcing them to shutter the huge part of the business and we have no idea how long that will last.
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you need to sell into any kind of bounce. oh, my now here is one. this is devastating to me because everybody knows i like olive garden and i always wear the cargo pants to get the rolls. never ending salad bar but i've been telling you to avoid this group like a plague for a reason a month ago darden was at $120 a week ago it was at $70 and now up to $34 after a nightmare session where it plunged nearly 20% that is a stunning move with a company with a consistent long-term record and capital grill, i love that they have a 430 calorie sushi plate. how are they supposed to make money when the government said you are not allowed to go there. it is quarantine for heaven sake and normal times it is super fast and the strength index calling that extremely oversold. but lags this is not a buy just like with brinker he recommends selling into any kind
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of strength. me, i hope you don't need these. because i've been warning you away for weeks i wanted to walk you through the charts to see the full extent of the damage and destruction and think about the workers at these places and how little they have and hopefully they'll get help this is how big well funded restaurant chains are doing. imagine how the small businesses are holding up now like my loved restaurant near the shore. and bottom line, we need to tie workers over otherwise there is layoffs. white house and congress is working on it and now you know why it needs to happen it is a visual it tells the whole story stick with cramer.
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turmoil starts right now good evening once again, i'm scott whop npner, the floor closing monday trading will continue electronically, all of this on a day when the dow fell another 1 stshg1,300 points >> the market drop >> the working people, 100 million people at jeopardy >> dow dipped below that 2,

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