Skip to main content

tv   Mad Money  CNBC  April 2, 2020 6:00pm-7:00pm EDT

6:00 pm
>> of course, i do, because it's real people. they're not just numbers do i care about it i absolutely do, brian that's why i care. >> yeah. every one of those numbers is an actual person and a family thank you for joining us o my mission is simple, to make you money i'm here to level the playing field for all investors. there's 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. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you, but to educate, teach you, put it in context call me 1-800-743-cnbc tweet me @jimcramer. this market is so desperate for good news that buyers are willing to grasp even the
6:01 pm
thinnest of reeds which is why the averages were able to war today. the dow which gained 470 points, s&p advancing 2.28%. it's hard to find a positive button >> house of pleasure >> the nasdaq gaining 1.72%. all right, what happened okay, this morning president trump told us he's brokering a deal between russia and saudi arabia so they'll stop flooding the world with oil that will help the price of crude to rebound back to the '20s and trigger a short rally in the stock market. one that couldn't be taken down by the shroud of gloom even as the shroud kept trying to take it down. intermittently until being ripped from the market's rarely bullish face >> buy, buy, buy >> yep, we live in a bizarre world where wall street can momentarily overlook the fact that 6.6 million americans filed for unemployment insurance last week
6:02 pm
a mind-blowingly horrible record breaking number. instead, we briefly able to accentuate the positive. it might not collapse, saving billions of bad loans and preserving energy independence i've been telling you we need oil to stabilize before we can get on terra firm a. that looks a lot more likely today. we've got some other positives, too. excuse me for pointing them out. the much needed stimulus checks will soon be out yeah, i know are they going to be out in time oh, please come tomorrow companies are going to apply for loans to keep their businesses open and cover payroll. loans that will be forgiven if they don't layoff the workers. it's a great idea. stop carping, people the government is guaranteeing small business loans bafrpgs will be making them. they're not prepared to handle the applications of course not. the country is going to be laid off, for heaven sake i say it's a high-quality problem to have the program. it will be a mess. without the program millions of businesses might go under. millions we can't let perfect be the enemy of the good, people.
6:03 pm
especially since perfect is not an option. it hasn't even been two weeks since congress passed the darn rescue package give it a chance i know everybody needs the money, everybody but it's just -- you got to give it a chance. you got to give it a chance. so are we grasping at straws here at the end of the day there are a lot of problems that can't be solved by the 2.$2 trillion stimulus bill with covid-19 foremost among them. you can argue we're not doing a great job fighting the pandemic on a national level, but what about a corporate level? so many companies are struggling to stay in business in an environment where demand is dried up for all sorts of goods and services case in point. how about aerospace? i'm talking boeing 737-max debacle last year. it was america's pride and joy it's the last bastian of our great manufacturing base even after boeing stopped producing its best-selling plane, aerospace remained in
6:04 pm
bull market mode there was too much demand for commercial aircraft. covid-19 came along and brought the industry to its knees. nobody is flying, the airlines don't have money they don't need any new planes, please what do you do if you're the foremost manufacturer of jet engines? how do you take a once hobbled enterprise, transform it from an ugly duckling into a beautiful swan with what we now know is a stop along the way look at what general electric is doing under chairman c.e.o. larry. he's fixing the company on the fly raising $20 billion selling the company's strong life sciences business so he'll have enough cash to ride this one out. at the same time he's taking tough action, harsh action even, necessary to cope with the sudden drop in demand. furloughing half the staff in this engine business and he's helping fight at the same time covid-19, at the same time by building ventilators among other high-tech health care weapons in this, at times,
6:05 pm
overwhelming battle. but do not take it from me let's hear directly from larry welcome back to "mad money." >> jim, thanks good to be with you again. >> okay, so, larry, i know these are tough times throughout the world, but sometimes when we get a check for $20 billion, you've got to feel that you've got the future at least a little more secure than you did a couple of months ago tell us about that sale and what it means for ge. >> sure, jim we were very pleased on tuesday night to close the sale of our biopharma business to danaher. as you know, that was a $20 billion cash transaction and one of the first things i did as c.e.o. 18 months ago was really pivot from the planned i.p.o. at health care to a cash sale of that biopharma business, a wonderful business, to a strategic buyer. there's no better way than, let
6:06 pm
alone now, to address the liquidity and the leverage challenges that we were facing with a move like that. and with $20 billion of cash in the bank on top of the $36 billion we walked into this year with, in addition to the ample bank lines that we have, we think that in the face of the covid-19 crisis, we've got our liquidity position well in hand. >> now, i think some people will say wait a second, did they get rid of health care it's hardly like na. we have a common enemy we are facing it's nice to be unified for a change a common enemy of covid-19 and you are a part of the defense production act going to be working -- although you would have done it, you were doing it before, in an alliance to help defeat this covid-19 by ramping the ventilator production. how is that going? >> well, jim, we're doing more than ventilators, to be clear. and i'll come back to the dpa news that was out earlier today. but if you look at what ge
6:07 pm
health care does today, even with the biopharma sale, which is a $17 billion global med tech business, ventilators are certainly an area where we're playing a role we've doubled our production capacity here in the u.s. already, we're going to do it again here later this spring we reengineered with the support of the fda our install base over 100,000 anesthesia machines so they, too, can be used in ventilation. in partnership with ford, we're bringing on additional production capacity as we speak. now, that is again in addition to all that we're doing to support clinicians today who are using our imaging equipment, particularly our ct scanners all over the world we were on the front lines in hospitals in wuhan at the start of this tragedy, and we've been supporting clinicians all over the world. in addition to ventilators and ct scanners, we're ramping our
6:08 pm
patient monitor production up as well, and our clinical command centers, basically a software product that hospitals use to manage patient volume. it's something we had been updating here of late. again, to do all we can in the hospital settings as our doctors and nurses face this incredible challenge. >> okay. so, larry, let's talk about a crisis that was certainly not of your making either, which is that we suddenly find a challenged industry which is aerospace. we know boeing is an amazing company, but you have the most pristine business, the aerospace business, even your detractors, larry, said they have an unbelievable business. but you've had to take some tough action, including a furlough today which i know you didn't want to do. but you really had no choice if you're going to play offense in 2021, correct? >> jim, that's exactly right we are thrilled with the
6:09 pm
leadership position that we enjoy at ge aviation i think that is a given, as you suggest. but we're not immune from the ravid contraction we're seeing in hospitality, the direct effect that's had on our airline customers and certainly our air framers like boeing and air bus here as well so we're doing all that we can to support our customers at this time of rapid change and uncertainty. at the same time, we're doing what we need to do to address cost and cash actions so that we can weather the storm, however it plays out, and be ready on the other side because there will be, jim, let us never forget, there will be another side here. >> you know, larry, it kind of feels like -- when i was growing up, i talked about what ge did when we were in world war ii what did they do they were in grenades, they were in ships, they were in bazookas, they were in every single part
6:10 pm
of winning that war mechanically, and now you're doing it digitally just talk about the war footing that general electric is on right now. >> well, again, i think it starts first and foremost with what our health care team is doing on the front lines with doctors and nurses every day i think we are incredibly proud of what our service engineers are doing 24/7 to make sure that our equipment is primed for use and being deployed in the proper way. just this week, jim, as you saw in new york with the u.s. comfort coming to new york harbor, we have ct scanners, other engineer equipment on board. we have nine service engineers who have been 24/7 supporting that install base. so as patients come aboard, we're in the position to help. and that's really happening, again, all over the world in europe, here in the states we're leveraging the lessons we
6:11 pm
took from china. and that coupled with what we're doing in aviation, certainly what we're doing in both our power and renewables businesses as well to make sure that critical infrastructure is intact at this time, it's nothing that any of us should take for granted >> larry, the last thing you want to talk about is the most important thing. you've been a c.e.o. for a while. not at ge, but danaher where you sold the biopharma business to 2001 with 9/11, 2007 to 2009, these are, people say, a crisis is a terrible thing to waste, then i see them waste it what have you learned from previous to be able to deal with power, which was a problem, be able to deal with pension, be able to deal with balance sheets, be able to deal now with aerospace? i've got to tell you something, larry. this is kind of a job-like hand you've got here. >> jim, there are many, many, many blessings attached to having an opportunity to be a
6:12 pm
public company c.e.o. at a young age. in my first year i led a company dealing, as we all were, with the aftermath of 9/11, and then again a different type of crisis in '08 with the financial situation. for me it really starts with making sure we're getting ahead of the reality in situations like this, regardless of how challenging things are, the tendency is to think, well, it can't get worse. or as we've seen over the last month, things can happen you need to think, as one of michael finney colleagues at ge says, about the unthinkable. then i think you really need to make sure you define, even in that context, what good looks like what does winning look like? and then with that paradigm, that road map defined, make sure we're taking action. not contemplating doing this or that, but really taking the actions, many of which can be challenging and unpleasant, but necessary in a time like this.
6:13 pm
>> well -- >> to me that's the simple equation >> i have to tell you, larry, you are an inspiration to many one by one you've checked off the boxes. there are more boxes and more boxes. i am so confident you're going to check off -- all my charitable trust is buying your stock all the way down it's so right right here i know it's not the year to play offense, you have a little more day. but i think you're going to come out big next year. larry culp, chair and c.e.o. of general electric >> thank you, jim. >> we have more on the show. exclusive with okta, chipotle, health care heroes ring central, how can i help you? they have a video product you're going to love. i insist that you 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 email to
6:14 pm
or give us a call at 1-800-743-cnbc ado dmeynbhing he shouldn't you pay less when you use less data? now you can.
6:15 pm
because xfinity mobile gives you more flexible data. you can choose to share data between lines, mix with unlimited, or switch it up at any time. all on the most reliable wireless network. which means you can save money without compromising on coverage. get more flexible data, the most reliable network, and more savings. plus, get $300 off when you buy a new samsung galaxy s20 ultra. that's simple. easy. awesome. go to today.
6:16 pm
there is always a bull market somewhere and right now we have a stampeding bull in the stay-at-home economy place especially the software companies that make it possible for millions upon millions of people to work remotely, but not all these stores are straightforward. take okta the cloud based security software form that handles your log in credentials. the barely protected at home wi-fi networks
6:17 pm
it's a fave. after the market wide meltdown sent the stock plummeting from 140 all the way to 88 at its lows two weeks ago, it's back to 116. okta held its annual user conference virtually, of course, where they raised their earnings forecast for both the earnings and full year. the stock went down. what is that i think it's because management mentioned it had some near term building head winds even though they left the revenue guidance unchanged. so what? let's see what's going on here let's drill down with the cofounder and c.e.o. of okta to get a better read of the company's prospects. welcome back to "mad money." >> thanks for having me, jim it's good to be back on. >> todd, i'd say in the last month, maybe hundreds of thousands of people have been told to work at home, which should be a paradise for the bad guys so easy to get in. what is okta doing to make sure you are somehow pass word
6:18 pm
protected? >> yeah, it's really unprecedented in the flexibility companies need to let their work forces work from anywhere. what we really do is enable that seamless experience and seamless security between any network or any device so if you want to work from your home wi-fi, we're going to log you in securely. if you want to work from your office, we'll log you in securely anywhere between across any device, any network. we'll make sure it's easy and simple, one click, you're in, it's secure. you can have the right security posture and right level of trust and confidence that you need >> all right, todd, people will say they haven't used it that's not possible. you have to have passwords there's no way, i have a million different passwords. there's no way this okta can do that it's a pipe dream. what do you do that the other guys don't have? >> the main thing is that we connect everything together. so we have a service, a platform service called universal
6:19 pm
directory that holds the user directory for every person in the company. it holds devices they use, holds the networks they're permitted to access from and applications they go to by connecting it all together, the identity cloud can behind the scenes orchestrate that experience and remove the friction or remove the passwords and make it just as easy as a single click to get into things. >> i saw that great biometric device that you had when i was at your headquarters that to me is foolproof >> yeah, once it's -- one of the magical things is once you get everything connected, once you -- once your identity system knows about the devices and knows about the people and the applications, then you can take anything like face i.d. on an iphone or windows hello, on a windows pc or any other biometric and you can use that to log into anything there's no reason why you should have a separate log in for every application or one device you have, you can use your finger print, another device type in a
6:20 pm
pass word. that's not how it should be. by integrating it all together, we can remove the friction >> let's say i work at a company at my charitable trust, tyson foods. i care passionately -- the old company, i care passionately that the food sources be secure. we obviously don't want anything to go wrong in that. if i'm tyson and i go to okta, what does okta do for me >> tyson foods is a big company. they make one out of every five pounds of chicken and poultry in the u.s. it's really an important company. like everyone else there adjusting to this world, working from home, it's not just that their employees have to work from home in many cases. their whole supply chain is changing they're shifting from supplying primarily distributors and restaurants to supplying grocery stores as more people are going straight to grocery stores and what does that mean? that means that their log-in system and identity system has to be flexible it has to support login from home, login a distributor, from
6:21 pm
a grocery store and everywhere in between and by using the okta identity cloud, they get that fluid flexibility to login from anywhere with the security they have to have because you can't forget security. you have to make sure it's locked down, secure and they combine the ease of use with that rock solid security >> okay. so in the meantime, of course, don't warrant to bury the lead here you had 45% revenue growth subscription revenue grew 46%. the cash flow is terrific. this is a situation where i know some people are saying, well, look, there's got to be some near term issues with the economy. you acknowledge that, but to me that's the same juggernaut that i saw when i was with you last >> we're very, very confident that in the long term these trends of more cloud technology, more innovative devices to access that technology, more flexibility and where you want to work and how you want to connect to customer -- how your customers want to connect and how you can build experience those trends are unassailable.
6:22 pm
so we're very confident in the long term. the reality is there is a lot of uncertainty in the short term. in the business we're seeing things, you know, companies that are impacted in the industries like travel and leisure. they're thinking about their projects and maybe thinking about their budgets. we're also seeing companies accelerating projects and pulling things in where they want to work from home faster and they want these benefits of security and ease of use quickly. so i think there is a little bit of uncertainty in the short term but the long-term trend is very clear. >> i've interviewed in the last four days the c.e.o.s of foyer of the five major banks. every one of them is having people work at home. i don't want my people at home if they can be hacked. so in some ways the imperative to use okta is greater than before covid-19. >> that's true, that's true. the flexibility in this combining that with the great user experience, and also the security that you have -- have
6:23 pm
to have to make it all come together is really a powerful trend. >> all right how is your team holding up? because iwas out there, a lot of nice young people i always joked and said, my god, my daughter should work at okta, such a cool company. are you guys doing okay? i'm worried about everybody. look, you manage a lot of young people people don't realize you're in your 50s they think you look 25 is everything okay >> we're lucky a lot of companies in certain industries, you know, if you're in health care right now, you can't work from home we're the lucky ones we have the flexibility to take our laptops and work from home and we're connected to all this cloud technology so it makes it easy for us with that being said, we put on a major user conference these last couple days, octane 20 live we went, in four weeks we went from a 6000 person, in-person conference, to totally scrapping those plans and instead putting
6:24 pm
on a 16,000-person virtual event, which is the content is similar, but the way it's delivered is totally different the teams did an amazing job you know, the show must go on. >> right >> we get this message out, help customers, the teams pulled off something impressive >> i like that, the show must go on todd mckinnon, c.e.o. of okta. nice to see. >> thank you, jim. >> these are the stocks you buy. you don't sell them. "mad money" is back after the break. yes. it's the first word of any new discovery.
6:25 pm
but when allergies attack, the excitement fades. allegra helps you say yes with the fastest non-drowsy allergy relief and turning a half hearted yes, into an all in yes. allegra. live your life, not your allergies.
6:26 pm
- [female vo] restaurants are facing a crisis. and they're counting on your takeout and delivery orders to make it through. grubhub. together we can help save the restaurants we love. all right. we have to start focusing on the companies we know can weather the current crisis and come out in better shape, much better shape. companies like chipotle. we know the restaurants have been devastated by the lockdown orders, but there are some big exceptions how about take-out, how about delivery, how about pick up.
6:27 pm
even before the pandemic hit chipotle was investing heavily in its delivery structure. it's using the balance sheet to go all in in every way that stril works and i think the stock works because of it. just adds important chipotle is being a corporate citizen. they're not laying off people, giving bonuses and temporary raises the right thing to do if you can afford it. seeing that this is national burrito day let's check in with brian nike all, fantastic c.e.o. of chipotle. see how they're coping with the coronavirus outbreak welcome back to "mad money." >> thanks, jim good to be here. >> all right, brian, how do i celebrate? how do we all celebrate national burrito day? >> well, we are doing a free queso and free delivery. hopefully we can bring you a burrito. that's how we're celebrating >> how about health care heroes? >> that's another great program
6:28 pm
we have going on now burritos for health care heroes. people can basically submit and we will then deliver boxes of burritos and the response has been great. the thing that's been even better is that really the health care heroes have appreciated getting the burritos >> we have a new society and new country here i think while the politicians squabble, the companies are the greatest source of social change you are not cutting people you're not firing people you're giving people $6.5 million in bonuses? >> that's right, jim so, we have a quarterly bonus program for our restaurant managers and field leaders, and so they are doing a great job in january, february, definitely on track to get their bonuses and so march obviously we ran into some tough business situations, but we thought the right thing to do was step in and provide assistance and i'm
6:29 pm
happy to say because of the strength of our company, we're able to invest in our people with these bonuses so our managers on average will be getting anywhere from 1500 to $2,000 bonuses examiand our fie leaders north of $3500 plus the $4,000 bonus >> what a welcome thing. that is fabulous now, i don't know how you did it because it happened to be in your business, although i've been put out of business i'm coming back, too you somehow have been able to make money delivery, take-out. these are notorious money losers can you explain how the best restaurant company figured out how to make money with this? >> look, jim, we're very fortune over the last two years plus in our system it's our order ahead business. our rewards program. it's obviously the delivery partnerships that we have. and our order ahead business comes off of a second digital -- which operates at a higher
6:30 pm
margin for us. so we're allowed to invest some of that margin into access points like delivery and, you know, our rewards program. so that has worked really well for us you know, thank heavens we invested the way we did because with that new access point and that digital system in place, we've been able to kind of weather the current situation. >> all right so, brian, i'm putting on my glove because that's what we do around here. i'm sure you do, too i want no contact with my delivery will you make it so i have to have no contact? >> yeah, we're doing no contact delivery as well all of our partners, door dash, uber eats, post mates, and in our app when you order delivery, you can request contactless delivery we have the tamper evidence seal on our bags. so you can feel really confident in the delivery from chipotle. >> one thing i know you care about and i care about is we want to know our food supply
6:31 pm
more than ever now, your company, just the grace of god, whatever, had some problems a couple years back with something i don't want to bring up because anybody could have it happen >> right >> but you have been the most, let's say, determined to make your food sources to be good, local, helping people. how do you be sure it's not disrupted in what is obviously a time no one ever thought about >> yeah, look, jim, we've been very fortune our partners in the supply chain, whether it's farmers, animal farmers, you know, dairy farmers, obviously those that provide all the packaging, you know, the materials like purell hand sanitizer and gloves. they have all really been just terrific partners through these challenging times. our supply chain has been just really something special we spent extra time making sure obviously the food partners continue to get the support they need because we buy our food differently than a lot of folks. so we want to make sure that all of our partners that are
6:32 pm
committed to regenerative farming, dairy done the right way, animal welfare practices have the support so they continue as small farms, family farms, and i'm happy to say so far so good, and i know the stimulus package is also going to help those individuals through these challenging times as well. >> let's talk about the stimulus package, because we're at a time where i think a lot of people are too critical, brian, but you're not i know you you're not like that you're trying to figure out what can bring us together. obviously i think a burrito brings us together tremendously. i'm a home boy when it comes to chipotle are we doing the right thing in the country to make it so we get through this difficult time? what can we do better? >> look, i think the most important thing here is what i've really focused on in our company which is making sure we're supporting each other. i think it's important we support the businesses that are still open, to be able to do carry-out and delivery i think it's very important that we support the employees that,
6:33 pm
you know, are healthy and willing to work right now. and, you know, the more we work on doing things together, i think the better we'll come through this crisis. and i know in our company, i believe our culture is going to be stronger, our people will be stronger, and ultimately our business will be stronger. >> all right i'm looking -- i'm checking my email. i put your cfo, jack hartung, on the spot i want to help health care for heroes i want to find a way to give burritos to these people will you allow us, people who love chipotle, be part of this program? >> you know, joe, we're actually working on -- one thing we're working on, jim, is creating gift cards for the health care heroes people that purchase these gift cards will be able to give 10% of those proceeds, roughly, to health care organizations that are supporting these individuals. so that's in the works and i think that will probably be the ease jest wiest way to ce together to support the folks
6:34 pm
doing heroic things right now. >> are you able to innovate? i thought we'd do something new. can you still come up with something we like we hadn't expected >> yeah, of course you know, our culinary guys are still hard at work you know, obviously a lot of these things are going to be delayed where we are right now but i'll tell you what, i had some outstanding brisket i've had wonderful bowl of rice. there are things still coming. eventually we'll bring back carne asada. >> you promised me you'd do that >> i promise you we'll do it my kids keep asking when it's coming back. 0. ious obviously it's high on the list once we get through this >> you are doing everything right. the bonus for the employees, what a difference this country is from the way it used to be. thank you, sir thank you. all right. that's brian nick all, chairman & ceo of chipotle. i'm going, i'm buying, right the gift cards, i hope you are,
6:35 pm
too. "mad money" is back after the break. that the world needs. but right now, the world needs all the good that we can do. to all of our employees and everyone working to keep america strong, thank you. aand we're here for you -ry day fespecially now,rs.working doing everything possible to keep you connected. through the resilience of our network and people... we can keep learning, keep sharing,
6:36 pm
keep watching, and most of all, keep together. it's the job we've always done... it is the job we will always do.
6:37 pm
move over zoom video there is a new player in the video conference space called ring central here's a cloud communications play that signed a huge pa partnership with avia last fall. 100 million users, that thing put them on the map. then this morning the company rolls out ring central video, a direct competitor to zoom and cisco' webex the two services have been taking share, taking names millions of people are fortune to work from home. i've been a huge fan of ring central since it traded at $75 it's now at $220 it could have more up side they have a major leg up
6:38 pm
you can run this thing in ring central. it's a platform millions of people already have. rather than hopping to a third-party app like zoom. do not take it from me let's go directly to the source. vlad is the founder and c.e.o. of ring central who has been beaming in using his ring central video system welcome back to "mad money." >> hello, jim. thank you for having me. back again who would have thunk from my home office. >> tell me, why should i use ring i could have zoom. i can download that in a second, or webex by the way, we know these guys are tough competitors and they're also good guys >> they are good guys. we're not saying otherwise but we do have a differentiated product. we're not, you know, like i say, it's not about competing with webex or zoom or anyone else but we do have millions of customers, over 2 million to be
6:39 pm
precise. and what we're able to do is provide them basically three things that really differentiate us so, one is we are able to provide a unified, we call it mvp. message video phone experience >> okay. >> we are unique in that regard, so ring central platform supports native messaging, native phone we are the global leader in unified communications as a service. but as of today, we now have our own video component as well, so we are able to serve all of mvp using our proprietary technology okay, so that's a huge thing right now. >> okay. >> secondly -- secondly, our technology is fast what is it we are fundamentally browser based. you do not need to download a cloud. you can simply run it in a
6:40 pm
chrome browser that has multiple advantages multiple advantages, including security browseers a browsers are notoriously secure. desktop is less secure that leads me to the last point is look, we're a trusted brand we're a leader and, you know, we can do anything that we, you know, don't disclose in our privacy policy >> but, vlad, cisco use install base, we had chuck robbins on yesterday, 14 billion meeting minutes in the month of march. zoom out of nowhere, 10 million, goes to 200 million daily meeting participants year over year why switch i mean, these are embedded by the way, cisco, once it's embedded webex, it's very hard to dislodge. >> well, look, it's a very big
6:41 pm
market look, what can i say cisco, we're dislodging them daily. we're the number one donor, if you will, to our ring central platform you know, our whole business, our cloud system business is all about dislodging cisco so are they hard to dislodge yes. are they possible to dislodge? of course. but i really want to stress we have been working on ring central video for many years it's not a new fangled thing for us over three years of development, hundreds of engineers working for multiple years 15 months beta we are very serious about it but here we are in the c-19 environment. look, work from home, we were founded on work from anywhere, any device, any mode anywhere. now it's not a nice to have any
6:42 pm
more, it's a must-have >> right >> yeah. and we have a solution which satisfies that needed to i can tell you what. i don't know about other people's numbers -- i obviously hear the same quotes you do. >> right >> but we sell three times increase in down loads month over month we saw over 100% increase in online meetings. we saw 77% increase in message -- so those are significant numbers. >> let's go back over the security issue, because we know that zoom by its own admission is having problems with security why am i more secure, again? just tell me, browser, you say, is better. i want to know, if i'm having a group of people in, can someone just ring central bomb me and get in there >> ring central will never bomb you. and, look, i cannot speak to
6:43 pm
zoom you have to talk to them >> right >> but i just know what we do and what we don't do, okay here is what we don't do we don't share any of our customers' data with anyone. we just do not >> okay. >> we do not leave any trace of our client, if there is a client, we do not leave this on the desktop just as a matter of policy this is what we don't do we do encrypt. we are very clear, we do not provide enter encryption, it has numerous legal implications. but we do encrypt everything on the server and our meetings are generally hard to break. >> okay. >> so, are we foolproof? no, i don't know we have not been broken. are we doing anything malicious? absolutely not, i can tell you that >> one last question, ed can you give it away can you make it so cheap with all the other things you do,
6:44 pm
that it wouldn't -- that you would never think of going away? because vlad is giving to me free if i take everything else >> well, it's not can we we do, we do so, again, these are very strange unprecedented times. >> right >> we are a worldwide service for all of our customers and i tell you what, there are many people who need the service at house here's what we did we made our service in its entirety message voice phone -- message video phone, mvp, we made it available at no charge for the duration of the crisis to educational institutions, k through 12 and community colleges, to first responders such as health care workers, ngos actually news organizations. so you can be on the list. and the public sector. >> that's what i wanted to hear. that's exactly vlad, we have to run, but that's
6:45 pm
exactly what i wanted to hear. >> thank you, jim. i just wanted to say we have one of the largest school districts in the country currently using ring central, using ring central video. we have numerous health care organizations. this is hundreds of doctors using. tell you what, we have at&t and avia also using it we think we are off to a goot starred. >> vlad, thank you so much for introducing it to our show thank you for giving it away in this crisis. that's what we have to do, think together in constructive chairman c.e.o. of ring central. it's a triple now. thank you so much, sir good to see you. >> thank you, jim. thank you. stay safe. and the struggle is real.
6:46 pm
mom! look!
6:47 pm
take something that can wipe you out? or don't, and fight through every second. new quick-dissolve nurtec™ can bring you back when migraines attack. just one dose can work fast and last so you can keep going. don't take if allergic to nurtec. the most common side effect was nausea. nurtec one migraine. one dose. onederful™
6:48 pm
it is time it's time for the lightning round. >> buy, buy, buy >> sell, sell, sell. [buzzer ee and then the lightning round is over. are you ready, ski daddy time for the lightning round start with john in florida john >> caller: thanks for taking my call about a month and a half ago you were talking about avi and bristol myers as being pretty good investments bristol myers has done pretty well ave doesn't look attractive. >> adve went down. they're elective, buying all allergan everything plummeted because of covid. i didn't see covid coming, my bad. it remains a good stock and in
6:49 pm
my charitable trust. let's go to paul in ohio, paul >> caller: hello, jim, thanks for taking my call a little subdued booyah to you with what's going on in the world and in the market. it was a good day for long's i'd like to get your opinion on claire based analytics they're not a drug company, they are trying to get involved in searching for a cure of the coronavirus. >> they're a research firm they do scientific analysis. i wouldn't do more work on that because i hadn't thought of it as a covid play. there are so many companies trying to do the right thing let me see if it's worth buying on that. typically it's not, but let's check it out let's go to raj in new jersey raj. >> caller: booyah, jim >> booyah. >> caller: i appreciate you and your team for doing wonderful job. >> thank you we have a great team thank you. >> caller: you're bringing the right people at the right time i have a 10-year-old daughter and she has a question one minute, i'll give it to her.
6:50 pm
her name is sanbee >> caller: hello i wanted to ask about the stock dominos. is it a time to buy it >> i think it is the time to buy dominos. i think that kid has horse sense. s here's why because when things are done, their delivery -- a lot of other companies are not going to make it mom and pops are not going to make it. dominos will and they have great delivery therefore i think it is a good investment darrell in tennessee, darrell. >> caller: this is darrell in music city god bless you, jim and your family thanks for all you do. >> thank you >> caller: need to know your favorite heirloom in your garden and tender morgan. >> look, i'm still a jersey beef steak guy. i like the german ones it's a particular name okay, kinder morgan i do not like i don't like natural gas any more it doesn't work for me why doesn't it work?
6:51 pm
because there is just too much supply and that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade ♪ ♪ ♪ ♪ ♪
6:52 pm
6:53 pm
when this is all over -- by the way, it does end -- what goes back to normal and what's forever changed? once we get through the pandemic, we're going out for cocktails, watch plays, movies, baseball games might take time for people to
6:54 pm
feel confident about those large venues but there are other behaviors that simply won't go back. we know the obvious. remote working soon video cisco's webex, ring central allow us to communicate with each other reliably via video chat it's not science fiction virtual cocktail parties, it's all here after we beat this virus i'm betting millions of people will continue working from home it's much more convenient than driving to work. not to mention cheaper and environmentally friendly the flip side we'll need less office space i see prices plummeting once the current leases are up. what else is going on while you stay home? right now we're seeing massive amounts of pantry stocking 0 the other day conagra told us people were buying lots of canned foods, the center of the super market is back yesterday nestle told us people snack more when they work from home i think you should buy pepsi co. which owns the largest snack food business on earth
6:55 pm
frito lay. your coworkers can't judge you for eating cheetos if they can't see you. at the office you ate rice cakes. pepsi co. reported one of the best quarters, it's down 23 points from its high that's crazy not just snacks. people are doing more cooking since they can't go out. when you cook, which my daughter doz does incessantly, by the way, you need spices and seasonings we're not animals. that makes mccormick a screaming buy. it got knocked down because the chinese business was hammered. now china is coming back just as the stay at home economy is coming into its own when i interviewed c.e.o. lawrence this morning, he said mccormick has been crushing it led by frank's hot sauce with fails of french's mustard doubling that's extraordinary of course, mccormick has food service business that's getting hurt badly they made it clear the stay at home business is strong enough to offset weakness on the restaurant side of things.
6:56 pm
food service, he has new products he has the stuff, not just this any more he's got this. you know this -- i tried to get a bottle half the size on amazon 40 bucs. my wife is pouring it like it's water. remember, this is exactly the kind of stock that thrives during recessions. it was a great buy during the financial crisis i think it remains a terrific buy here even though it's up a lot. finally there is amazon. every time you are confined to your home, have you ever noticed, you do so much more business yeah, amazon gets more business. this time it's been a real lifeline for people who desperately need staples i'm betting amazon has a gigantic quarter not just because of retail, but it powers so much of the cloud amazon has the best cloud infrastructure business. i think they're running circles around the competition speaking of the competition, the other day i read you a snippet from a microsoft blog about the cloud business azure they said, quote, we've seen a 775% increase of our cloud
6:57 pm
services in regions that have been forced to social distancing turns out it was too good to be true yesterday microsoft issued a special sec 8 k correction it was not intended to perform information about the azure and cloud services generally microsoft intelligence cloud service, end quote they weren't talking about every region before social distancing worldwide. the document stated they were only talking about italy suboptimal disclosure. i still like microsoft doing fabulously if you're looking for a play on the stay at home economy, i say stay with amazon stick with cramer. was another around the corner? or could things go a different way? i wanted to help protect myself. my doctor recommended eliquis. eliquis is proven to treat and help prevent another dvt or pe blood clot. almost 98 percent of patients on eliquis didn't experience another, and eliquis has significantly less major bleeding
6:58 pm
than the standard treatment. eliquis is fda-approved and has both. don't stop eliquis unless your doctor tells you to. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. if you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. while taking eliquis, you may bruise more easily and it may take longer than usual for bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. what's around the corner could be worth waiting for. ask your doctor about eliquis.
6:59 pm
maybe the market senses something. maybe it's not just oil. maybe some of these antivirals are going to work. maybe there's a possibility of a leveling out, not that far from now. not sure exactly what it was, but the market should have gone down a lot today, okay it should have it should have cratered on that unemployment number. the fact that it went up on oil -- i still think the market is in for troubled waters, but some stocks have definitely bottomed you could feel it today. i always like to say there's a bull market somewhere and i promise to find it for you here on "mad money. i'm jim cramer "markets in turmoil" with scott wapner begins right now.
7:00 pm
good evening, i'm scott wapner on day 95 of the coronavirus pandemic the number of cases around the world tonight now topping 1 million. we're also learning this evening about big problems with the federal government's plan to help business owners many banks do not have the guidance from the small business administration. >> on the eve of a rollout of a skrugsal life line for individual business, trouble and doubts surface. >> at the current burn rate, we have about six days of


info Stream Only

Uploaded by TV Archive on