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tv   Mad Money  CNBC  April 15, 2020 6:00pm-7:01pm EDT

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very quickly also, t-mobile? >> t-mobile to me is not quite as interesting i'd rather own some of the semiconductor stocks in t-mobile right now. >> craig johnson of piper stanley, 20% greg johnson of pir stanley, thank you very much appreciate everybody watching. "mad" with jim starts now. 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 isn't just to entertain but to educate and teach you so call me at 1-800-743-cnbc. or tweet me @jimcramer.
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welcome to the twilight of the index funds. i think that's the great untold torrey er t story. for years, lots of very smart people told us that index funds were the best, if not the only way to invest. instead of trying to beat the market, they argue that you should just buy a cheap indecision fund that mirrors the s&p 500. but sometimes trying to mirror the market is a bad strategy take the s&p 500 you have to own so many have-nots along with the haves during this pandemic it's changed everything. that at best now, with the coronavirus, you're betting on mediocrity why would you want exposure to troubled industries like retail,
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oil and gas? i know the index fund orthodoxy will never truly be defeated because there's a kernel of truth in it. but man, in this environment, where you can't go out and spend money without fear, even if you just got a $1200 check from the government, youdon't have to b a genius to know that the cruise lines are untouchable. but what about the winners, though, what is worth owning in this economy not a lot of the s&p, but we know which one let me give you my stay at home buy list, all right? first, there's nothing to do doesn't every day feel like tuesday to you in this environment, you want as much entertainment as you can get. there's no sports, but there is netflix. "tiger king," something that kay up in the president's press
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conference if the pandemic doesn't calm, they may have trouble making new content. but right now the momentum is here then there's the video games activision and blizzard has some hot titles take two interaction, they missed the last quarter. the ceo committed to make sure that didn't happen again i like that. no nba playoffs? how about nba 2k playoffs? and grand theft audio, they just signed a deal to make some non-simulation games, even though i have no idea what that is i'm getting more worried there might not be a season. these new games require powerful hardware, nvidia makes the best graphics and the chinese government may be able to bless nvidia's acquisition of malanox, and by the way, it will move their stock, the numbers will go way
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up and amd just brought ut some new processors i think that they both are up. amd is a horse next up, i wouldn't be doing any job if i didn't mention amazon this is the ultimate shelter in place stock. every time something forces stores to close, amazon picks up new customers. and covid-19, the storm of the century. donny deuts amazon is so darn convenn yenlt. you put your saving cream, even yo toothpaste on auto delivery and never have to think about it again. i love it. and the retailers are still blocking to them even though they compete that's right, they compete with each other what else? people order a lot of delivery
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but are not keen on restaurants because they want contact list delivery that's dominos they figured that out in china i bet they take this opportunity to wipe out many of the mom and pop competitors. i know it's disappointing if you like variety in pizza, but i like their tomato pie with banana peppers the numbers for consolation brands were extraordinary. there are some worries about mexico making beer, and don't forget what day is coming up, cinco de mayo. added bonus, if you think the november election also be a democratic sweep, you're going to bet they're going to legalize marijuana, also known as cannabis consolation owns a lot of cannabis where will people spend their $1200 checks
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dollar general, walmart, costco. some of the retailers that work here because they carry all the essentials and their prices are low. people are stocking up with food and snacks we got some retail data that shows that campbell soup is doing fabulously we recently heard from con-ag. they are killing it in frozen foods and i should mention hormel had a good quarter. i cook with mccormick stuff because i don't know how to cook, but i know how to put it on how about the home office equation i know they have taken some security hits. the platform has become indispensable. i can't wait until sunday, because sunday noon is our boozy brunch enabled by zoom now, i was viciously overserved last sunday, even though i'm
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living alone roku is the best platform to watch all of your streaming services we need them now more than ever. they were created for this ever. and let's look at what's working outside. tell la. -- tesla big winner the ev space. tesla is a rare winner a sea of losers it's the auto stock that's safe to own here. if you are starved for income, look to the companies that just boosted payouts. we saw some nice boosts from proctor and gamble costco, more on those later. next up, china is making a comeback, and you know what? ali baba, it's a must buy. chinese amazon doing incredibly well here. and the stock refuses to quit. china is open for business but people are still wary, so they're going to ali baba. i hope they stop going to wet markets. it's the only chinese stock i'm
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recommending there are a bunch of other names, too i like chewy, the pet food online same thing with peloton, although my wife still has the clothes still hanging on it. she moved out to the hamptons a long time ago. and the cybersecurity companies have become a lot more company in a world where people are working from the less secure computers at home as we know from the zoom bombing. here's three i like. acta, z-scale, a favorite of heather gaines, who is in the control room tonight, and crowd strike maybe i'll put an acronym together maybe go to @ jim cramer on twitter and make up not an akry anymore like f.a.n.g. and everybody stole, but i promise to have it by monday because i got a lot of time to kill because there's nothing to do. bottom line, rule number one,
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stick with the winners and leave the raggedy rest to the others kim in missouri. >> caller: boo fr-yah from the w me state i'm in a 40% losing and won't be back to even should i tell my position -- >> no, no, no! listen, i'll be candid and truthful fedex is not as got as united parcel there's a person who runs united parcel, and she is a genius. so i would say sell fedex and bayou nited parcel chris in florida, chris. >> caller: hey, jim, boo-yah >> what's up >> caller: i have a question on shake shaft. what are your thoughts on them in the future, how they're doing
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frozen cook at home burgers, do you think they'll come out on top? >> no, no. and the last quarter, they sales weren't good food is really hard right now. i like domino's, and wing stop and i have to bet long-term on mcdonald's because of that balance sheet. remember, restaurants, whoa. let's stay away. let's go to alex in florida. alex >> caller: hey, jim, how are you? i have a question about -- i purchased the stock at $11 and it's just about $16. do you think the stock has a -- >> i didn't like the last quarter. at $15, i don't know, if it goes to $17 i'm watching slack bounce tonight. i think you're going the have to move, because it's not a -- i don't want to say it's covid stock, that sounds -- it's just
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not something that is the right thing in a pandemic. all right? it's the new world i need you to stick to the stocks that are doing the things that work during a period of a pandemic because it's very different from the rest of the s&p 500. on "mad money" tonight, historic oil cuts and oil keeps going down, down, down, i'm going to talk to the ceo of parsley energy then in this horrible new world where we have to worry about dividends, some are raising theirs i'm telling you which to consider and as the coronavirus is pushing auto dealers to brace for online sales, is it worth considering a company like carvana? i've got the ceo so stick 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 madmoney@cnbc.com or give us a
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the price of oil stays here, down $20, you know what's going to happen? we're going ining lose a lot o jobs opec and russia agreed to cut production but it did nothing. there's just too much oil demand the ceo of parsley energy, one of the most forward thinking players in the industry, has a creative idea. he wants the texas commission to impose statewide production cuts you might say that's the end of enterprise, but why should the opec nations be the only oil cartel i think it might be worth doing. don't take it from me. let's hear from the ceo of parsley energy and find out where this might be the way to go forward here. mr. gallagher, welcome back to "mad money." >> jim, great to be back thank you for having me. great to be on "mad money. >> thank you, matt curbing production at a time
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when there is a massive oversupply in the oil markets, that could only help how could that hurt? >> that's right, jim we need solutions across the globe. we saw opec take a stab at it. 9.7 barrels a day. they were of course in a price war and turned around and have cut production 9.7 million barrels. but it's not enough. in this global pandemic, we have demand down close to 30 million barrels a day. that's the largest demand shock this industry has ever seen. we need to pitch in everywhere we can operators need to pitch in we're doing our part at the parsley level. we have cut 66%. we need to see those broad announcements across the board you're seeing 50% announced across the board to date if texas were a country, it would be the third largest producing country on the planet. you need to start with texas the railroad commission did a great job hosting a ten-hour
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long tearing to hear both sides of the argument, and taking the lead for the country yesterday >> now, let's just understand, not every oil company is in favor of this. you want to pro-rate exxon came out against you and other producers, too >> sure. through the course of ten hours of testimony you heard a lot about both sides everybody agrees they want a healthy, domestic energy industry on the other side of this my stance is if we don't do something quickly in the face of a pandemic, you are going to cripple this domestic industry on the other side. not just the operators there's only six operators by the way that can produce enough production from the currently producing wells to pay off their debt in the next -- without any additional -- we're one of those six. this isn't about us. 360,000 jobs just in the state of texas, close to a million jobs across the country
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supported in the oil and gas sector and the service sector if those companies are shut down for two, three months, they will not come back. and we will be reliant on domestic imports again like we were bf the last decade. so it's about the jobs and the sooner that stateks put a volume out there, that they would be p p prorating too, the quicker balance will get back on track and we can bring the industry back online. >> why doesn't the president just write checks to everybody not to produce >> that's one thing that the industry has also been aligned on we like to do what we can ourselves first. we are not part of the recent stimulus package, just over $2 trillion of stimulus we did not get $3 billion of support for the spr. you are seeing some ideas floated out there. i do think we need to really constructively look at all
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ideas. the best storage tank on the planet is the one mother nature built millions of years ago, and those are the reservoirs so we can keep it in the ground and support payments, it's been done in the agriculture industry for decades. so just now hearing about it, to be part of the solution that we do need to look at >> in the end, when you consider the job loss, and more importantly the national security that you guys give us, it seems like it's a very cheap price to pay versus building, i don't know, ten aircraft carriers, ten submarines pay off people in the middle east it is the most natural way to give what would have been foreign aid to american aid. >> that's right. not to mention risking our son's and daughter's lives you saw the president ask the question at his white house meeting, we spent $7 trillion in the middle east and what for and here we have the domestic energy renaissance providing
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north of 13 million barrels a day, of course that's going on decline now. we have to match demand. but we need a strong industry that thrives >> it is important to point out you had generated free cash low in the second half of 2019 you are not some person who is looking for a bailout. >> no. that couldn't be further from the truth. we want to adhere to all the contracts, all our partnerships that we have in the ten hours of testimony, people questioned our intent, and other's intent to this we have a total of probably $26 million of new contracts and $5 million of deficiency payments on contract pipes that we would be willingly paying throughout the rest of the year we are not fighting this for a $30 million charge we are fighting this for the strength of the american oil and gas sector >> last question, are you finding people who have come
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forward and said they want to cut the way you did the last time you were on our show? >> it was a bigger piece of the discussion yesterday i do think there are two separate topics, but these are things that work together. if you cut the oil production, you're going to cut the associated gas production. i think if they -- the commissioners constructively look at not allowing flaring, you're going to moderate the production even more so i think it's a great time to get in front and do some good things for the environment at the same time, realigning the supply/demand imbalance. >> i welcome any oil company that disagrees to come on air. i think what he says is filled with common sense. that's matt gallagher. thank you, sir if you want to own a oil company, parsley is one of the ones that you can own, because it's conservative,'9" increases dividends, it's got real smart
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management "mad money" is back after the break. we cannot do all the good that the world needs. but right now, the world needs all the good that we can do. to everyone working to keep america strong, thank you.
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if the rude awakens of today's hid use retail sales, we need to talk about safe haifens. this market is likely to remain su turbulent. what gives you safety in a volatile environment i tell what does dividends. with a few exceptions, dividend also have to be cut because of the pandemic, and which ones are safe so what are the exceptions they're the companies that just raised their dividends if you up your dividend, that's positive, right? if managers are confident enough to boost their payout, you don't
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raise your dividend one quarter and cut it the next. let's take johnson and johnson i spoke lovingly about it this afternoon. yesterday morning, they reported a 6% dividend hike just the most obvious stock to buy during a recession but this pandemic is incredible. it's even causing a slowdown with pharma. a slowdown like any other. people were worried about johnson's medical device business because it's in the areas of lockdown. they're being delayed, because this is the worst possible time to be in the hospital recuperating but they posted a monster double digit growth, more than offsetting the medical device weaknesses
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sales were blowout of course, it wasn't perfect imagine you had to cut the four-year forecast, but the stock till soared nearly 5% yesterday. normally money managershate it when they slash guidance, but most companies so far, they have simply withdrawn their moeshgs, becau -- their forecast because of the pandemic j and j told you they expect to earn $7.50 to $7.90 per share. it gives us something we crave, it gave us certainty they think they can quantify the damage of their business from covid-19 the consumer and pharma divisions should keep doing fine as for the medical device business, it will stabilize in the third quarter and increase in the fourth quarter. makes sense. there's only so long you can put off getting a new hip.
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and they're working on a new covid-19 vaccine why believe management i think we know their confidence is real, because they wouldn't have put through that 6% dividend boost this is the kind of thing we used to take for grant it. 6%, okay not anymore. in a post coronavirus world, where so many companies are cutting or suspending payouts, they were a sign of strength it means you can rely on that stock's 2.7% yield i know, 2.7% may not sound like much, but triple balance sheet, i prefer their balance sheet to the federal government and proctor and gamble announced the same thing, a 6% dividend. j and j announced a dividend boost before they gave you the earnings proctor and gamble had already seen its stocks surge to $121
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yesterday, thanks to the good news of the dividend and eked out a small gain, too at these levels, again, the yield is much better than treasuries trusted brands proctor makes old spice. i use old spice because my grandfather used it. febreeze, mr. clean, gillette, bounty, charmin. and many other beloved brands. these businesses are immune to a slowing economy or they're actually benefitting from the coronavirus outbreak think about all the consumer toilet papers and paper towels that's more than enough to offset the beauty brands producter w proctor moved up the date of their earnings and it's coming on friday. i'm not sure what that means, but people don't usually bring up the earnings to have an opportunity to share was news. dividend hikes are a sign of
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strength we care about these hiking, because they separate the wheat from the chaff companies are not going to raise the payout when they need to conserve think of the salt goodman guarantee, as in it's all good, man. if you haven't watched "better call saul," i love that line who else belongs to this first, there's the best of the lo gestics field think of them as an e commerce facilitator, because that's what the warehouses do. the company put through a 9% dividend boost, which sent stock up since then, the stock has rebounded back to $86 and change we spoke to the ceo just a little overa week ago.
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he told such a compelling story. think of it as an amazon with a dividend well, it's got other stuff but you know what i mean it turns out they've seen strong leasing activity over six weeks. in a world where e commerce has become the only safe way to shop, this is how you do it. i don't know about you, but it dominates by little area of the sink it's called colgate palm olive colgate raised the dividend up a penny. not much, but it's a sign of confidence as the stock got hammered, we started buying for the chair tbl trust. i like the 2.4% yield. i liked it even more in the weakness how about another one we have been a fan of called american tower. major cell phone tower, put through a 7% dividend boost on march 13th
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whi you have to respect the confidence amt shows at these levels, it has a 1.75% yield, but the business should be unionized against the recession. finally, do not forget, this is the one that i'm kicking myself. i got all tangled up in dollar tree it's dollar general, this is the best run dollar chain store in the country. a 12.5% dividend boost talk about confidence. now, i wouldn't recommend this as a dividend stock, but dollar general with thrive in a tough environment, especially when the government specheck is in the ml and just this evening, uber, cramer faif costco raised the
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dividend by 7.7% if you want to know which companies can weather the coronavirus storm, look for the ones that are boosting their dividends. the most obvious ones are j and j and proctor and gamble but think about these others you know what? i buy these two especially right here greg in tennessee, greg. >> hi, jim i've got a big hill billy yy boo-yah for you, my friend >> what's going on >> caller: squawk, halftime, and had are must-see tv and i'm a big fan of the week that was >> oh, thank you we've got to get back in that game at halftime where i saw my buddy in the hall today. we do all this physical distancing he and i have to stay 100 yards apart. because he's a redskins fan and i'm an eagles fap. >> caller: if i remember right,
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you liked proctor and gamble and i have proctor -- i'm sorry, kimberly clark is a main position in the sleepwell stock. they make cottonell and huggies and all this home stuff. and it's got a good yield. and i wanted to know if you had any luck >> call me a huge fan. they haven't been on the show lately, that's hurt my feelings, but i can accept it. it's down $2.40. that says to me, buy buy buy buy buy buy. james in kansas, we're going to kansas again james? >> caller: hi, jim thanks for taking my call. >> of course >> caller: with all the speculation that many energy sector companies will not survive this downturn, do you believe occidental petroleum will survive >> i saw that they issued stock
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to dividend to warren buffett. not in this form, i don't think they will survive, no. i'm jimmy chill now. i'm just going to say their recrennel acquisition was ill advised. if you want to know what companies are weathering the storm, look at the companies raising dividending. u.s. auto sales are expected to crater 80% this month compared with expectations before the pandemic what does that mean for carvana? i've got the ceo and covid-19 isn't invisible i'll tell you which stocks you should consider once we make it to the other side. and rapid fire in tonight's edition of "the lightning round. so stay with j and j and proctor and stay with cramer
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you understand the scale of the damage of the lockdown what we need to hear from companies that are right in the blast zone, companies like carvana. these guys were using the web to disrupt the used car business. they let you buy a car online, free delivery with a seven-day return policy. when the virus hit, stock plummeted from $115 to $22 investors sold first and asked questions later. since then, carvana has come roaring back, because the company raised capital via a secondary offering and rolled out a new program. some investors will hear the bright side. carvana is the safest way to buy a car right now. and maybe it will make us less
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willing to rely on public transportation it's easy to get the virus and public transportation in your own car. that's maybe why the stock is back up over $71, even after it got hammered today so let's check in with the ceo of carvana mr. garcia, welcome back to "mad money. >> hey, mr. cramer, thanks for having me. >> ernie, the commerce department gave some numbers today, talking about spending on cars and car parts fell by 25% in march the st. louis fed is talking about dramatic declines from -- by auto dealers. how are you guys holding up? >> this has been a tough situation on everyone. this came on incredibly fast, and as people went in and started worrying about their health and locked down, volume slowed down a lot. so across the industry, depending on the numbers you look at, i think in the second half of march, many companies were down up to 85%.
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companies that were selling cars we've held up significantly better than that, but there's no doubt this has had a big impact across our industry and other industries, as well. >> how about the discounts tha you're giving right now, because it's a pretty substantial leap of faith to give people credit when we see from wells fargo, et al, that credit is hard to come by and not everybody is paying back >> no doubt about that we just started rolling out a promotion that allows customers to take up to 90 days to make the first payment. many people are going through a difficult financial time and try to have an offering that works in this difficult moment at the same time, we have to worry about credit as you pointed out. the good news there is credit is the toughest when you head into a difficult time once you're in a difficult time and we've seen 16 million layoffs, which is a horrible
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number, those that have a job today are stronger than months before so we're making those offers to customers today. we feel confident about those offers >> do you think the checks, the $1200 check, could help carvana? >> i think it could. i hope it helps all the people out there going through a difficult time this just came on so quick and strong, people are worried about their financial health this money is going to help people bridge through this difficult time i do think in jgeneral, when people get big sums of money from the government, that generally does drive some large ticket purchases so i think there is a chance that will be a positive for us >> let me tell you a story, maybe you can help me here i'm about to tell you a story, but the conclusion, is i want to know how you really can get
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profitable somebody i know tried it, they brought the car to her, and she says the car's too big, i don't want it. and you said okay, and they took it back. and i'm like, holy cow they took it back. i couldn't believe it. but then i said, oh, i feel bad. he just got beat by lisa what do you do it's such a good service >> well, please tell lisa she owes us a couple hundred bucks for that pickup. that's part of the offering, we have to make the car is very easy to return it. that cost is very low, compared to the cost of running a dealership or having all the people that go through the transaction. so all we ask is that she tells that story, it was that easy and we think that will work out. >> but they found where we lived and dropped the car there. maybe this is the way of the future because we were like, wow, they really did it.
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>> yeah. i think what our business is about is building an interface with a customer can buy a car on their own, saving all the money that comes along that and passing those savings along. and then building a different supply chain that enables us to drop the car off at your door. when a customer is buying something that costs $20,000, we need to make sure they have the opportunity to return it back to us if it doesn't fit their life. that's all built into the math >> i did feel like that, wow, aren't the other guys going to catch on the other dealers, this is such a great feature. aren't you afraid they're going to come in under you or do something like this and make it so you're not as special >> well, i think something we tried to do from the beginning is think about what our customers need, build the solutions that our customers are seeking. and then worry less about what the competition is doing there's 40,000 dealers in this
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market as long as we stay focused on customers, we'll stay ahead of the curve. so far, i think that is our goal forward. >> with the $600 million raise you did, i shouldn't be worried you will run out of money if this pandemic lasts forever. >> as long as lisa doesn't keep returning those cars, we'll be okay tell her she owes us a couple hundred bucks. >> any way, ernie garcia, ceo of carvana, thank you for coming on great business model, sir. >> thank you there's a wild one if you're getting bored, that might be a good one to buy "mad money" is back after the break.
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it is time it is time for the lightning round. [ indiscernible and then the lightning round is over are you ready, skedaddy. rob? >> caller: hey, jim, how we doing? >> doing good, how about you >> caller: good. i've got to tell you, you pick us up every day. the way the world is going, and we've been down and out. >> ahhh, one of my buddies called me this morning and said jim, you look tired. that hurts i'm back >> caller: i'll tell you what, we watch you, and you bring us back to life >> thank you i needed that. it's lonely. my wife left in the first week
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of march i'm by myself reading books. what's going on? >> caller: can you let me know about tsm? >> i think it's going to be okay, but that's in that cohort of semis that i like to think includes nvidia and amd. bring it, bring it james in florida, james. >> caller: boo-yah, jim. how is it going? >> good, how about you >> caller: doing great go god mess to all the health care workers out there. sn >> caller: amrn. >> that thing is crazy it is -- look, i'm not -- it's been too much of a dice. every time i say i want to like
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it, it goes down if i say i hate it, it goes up maurice in new jersey. what's up? maurice? >> caller: i'm here, i'm here. >> what's up if. >> caller: how are you doing i have a question for you about if i was going to take a stock and buy a stock that's been -- like norwegian cruise line >> let's be honest i happen to like cruise, i do. i like a cruise. so does my wife. but the problem is, now it's become a public health issue, and it's a public health issue in the time of the coronavirus, i have to say sell, period let's go to lee in texas lee. >> caller: hey, jim, boo-yah to ya how about ex >> i haven't looked at that in a
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bit. i thought the ceo told a very good story i want to buy that stock i think it's good. let's go to lucas in florida >> caller: mr. cramer, best wishes from sunny florida. what are your thoughts on ticker ctso >> i do not know that. i'm going to have to do some homework on that it's beyond me let's go to shane in north dakota shane! >> caller: boo-yah, jim. how are you doing today? >> you know, it's another very long day, but that's all right just getting started what's going on? >> caller: all right hey, calling from the heart of the country and what are you thinking about continental resource >> it should bounce a little, but there's a chance that oil could go down to $15 that's not the stock you want. by the way, i don't want people out of the partnerships, they are all value traps. please don't get hurt.
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johnny in texas. johnny >> caller: boo-yah, professor cramer it's johnny from dallas, texas >> okay. >> caller: hey, my mom and dad, we always watch your show at night, so thank you for everything you do. and i wanted to get your thoughts on workday. >> i read it, and i thought that it was good, not great i still think that the ceo, i keep thinking about how when you do a big deal, you have to shake hands and look the person in the eye. you can't zoom a big deal. but i just worry about the gigantic deals in the time of covid. and what it means to try to give a guy $10 million, but not look him right in the eye that's just my view. ralph in georgia, ralph? >> caller: boo-yah, jim, how are you? >> i'm good. >> caller: i have a quick question for you so i have a quick -- i recently
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bought into a company that has some pretty good liquidity, but in terms of foreseeable future, there's a lot of uncertainty that's store capital corps what is your future? >> i'm not going to be a land lord of anything of anything. i don't even want to be a land lord of the place i own. people are just saying, hey, you know what? sorry, missing the payment i understand, there's a lot of trouble out there. and that, lame, is t ladies and, is the congress collusion of the lightning round. >> the lightning round is sponsored by - ♪ ♪ ♪ ♪ ♪
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how did public health become so political here? how did i become the poster boy for the shelter crowd, the buy who wears the rubber suit? according to a guest on squawk box this morning there's nothing political about my stance. when it comes to reopening the economy, take it on a case by case basis, or in this case, state by state if your state is riddled with illness, your governor should keep it tight as a drum. that's how i feel about my home state of new jersey. if your state is flattening the curve, gradually let businesses open, as long as everybody wears a mask and we stay out of personal space doctor's offices and dentists haven't been able to open that's
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crazy. contractors know all about masks. we've had a huge amount of work delayed. if your state has a handle on the outbreak, let the contractors work get some food on the table finally, there's states like washington, that has flattened the curve so much that april is better than march. of course, everyone should keep wearing masks and doing physical distancing to stay safe. but in washington, i think at this point, it should be up to the individual for most of the country, we need to do more preparation if the virus comes back, we have to go through the quarantine again and i would like to avoid that first, there's the antibody tests that abbott labs announced. if you're already exposed, you're probably immune, at least for some period of time. maybe not for two, three years, but for some period of time.
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if you already had it and immune, i say hallelujah, the government should give you a get out of quarantine free ward. you must be the vanguard second, i want more of the places open to be like costco. i want that in restaurants and retailers, even though it's not ideal. but better than another big outbreak that forces us to shut down the economy get stores and restaurants open, just enforce the physical distancing and the only way to beat this disease is a vaccine, one that prevents you from getting symptoms and prevents you from being a carrier. many experts say that's not a possibility. as for me, i'm an optimist on the vaccine front. that's right i came away from the conference call of j and j that they have something compelling up their sleeves.
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i suspect they can get started with human tests soon. we'll get there. j and j is way ahead of everybody else i trust them so yes, covid-19 has been a vicious opponent we're up to 28,000 deaths, amazing given the fact that no one had died of it last year but this virus is not invincible when we do beat it, you'll wish you had owned stocks and if we crush covid, i'll be able to fit more ten people in there now. we'll have a celebratory carona extra. yes. it's the first word of any new discovery.
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after the close, alphabet said they're slowing hiring. what does that mean? in another time i would have hated that and i would have said i can't believe they're still spending like a drunken sailor hiring people. maybe they're showing some discipline, which would then allow them to do better. i still regard them as a good stay at home stock but i'm heartened that they're not just hiring their darn fool heads off. because that seems to be what they've been doing in the last, i don't know, decade also, remember costco boosted their dividend i still like the stock i always like to say there's a bull market somewhere. i promise to find it for you i'm jim cramer
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i'll see you tomorrow. economy. >> are we going to meet the challenge in. >> market recaps, medical updates, and reports from small business markets in turmoil, next watch and listen live on the cnbc app >> good evening. i'm scott wapner on day 108 of the coronavirus crisis the dow falls nearly 450 points, as economic data paints a stark picture. all as talk to reopen the country grows and the government's small business rescue plan is about to run out of money >> the virus takes hold of the economy. >> retail sales down 8.7%. and that is the lowest read ever >> investors hunker down in the face of grim economic news >> dow session low down about 600 points. >> as americans grapple with their new realities.
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