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tv   Mad Money  CNBC  April 22, 2020 6:00pm-7:00pm EDT

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>> that's sunny out and such a lovely day >> i can see that out your window >> you know -- >> you can see -- psx, mel tim seymour's got me thinking. philips 66. >> thank you all for watching "fast 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 context. call me 1-800-743-cnbc tweet me @jimcramer. now, we know the market roared today >> hallelujah. >> that was easy
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>> because the senate just passed another $500 billion bailout. bailout, let's say of the last bailout. as we quickly ran out of money that's why the dow surged 457 points s&p soared 2.29% nasdaq 2.81% >> house of pleasure >> payroll protection program was supposed to be for small business, right? in the end a ton of that money ended up going too big businesses, public companies that was a back rub and sing i feel like a chump. i guess i should be more cynical about politics, just trying to help small business. however, if you ask me, that wasn't really the big story of what's going on. see, there's something bubbling underneath right now under the surface. and if anything, it makes me want to be less cynical about corporate america. that's right corporate america. see, this market is rewarding businesses that have foresight and originality and most importantly, heart
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i don't want to sound too sappy, i don't know how else to put it. the stocks of good corporate citizens are thriving here mark benioff, the c.e.o. of salesforce, loves to push the idea that business is the greatest platform for social change he's a proselytizer and he's right. business has the fire power and the smarts to make things happen benioff is not alone which is why tonight i want to focus on real business people doing really great things that should ultimately help you make money as a shareholder i used to scoff at the idea of doing well in the end i am supposed to be a dollar sign represented by a man. but we live in a new world now, a world where doing the right thing may actually be good for business why don't we start with cramer fave chipotle which just reported 35% decline in
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same-store sales stock surged 12% today no, bear with me it's not counter intuitive in the b.c. era, before coronavirus, evaluating stocks was straightforward. we plot the sales in earnings against the estimates and do the same thing with the forecast not any more you have to be a total knuckle head in this environment if the cdc can't predict this pandemic, it would be hubris nor chipotle to make that attempt. without that guidance we have to look at other things chipotle put in the top of its earnings release and i'm going to quote investing in our people has been a top priority after all, they are our greatest asset. they go on well before covid-19, we had industry-leading benefits for all employees that included free meals, sick paid leave, mental health concierge for employees and their families end quote. chipotle paid millions in bonuses to workers for showing up during the covid era. why? because it's part of their dna
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you know what else is part of their dna? food safety. when i listened to the conference call chipotle is like taiwan, south korea. the two countries that handled this outbreak perfectly thanks to their experience with sars the year before. so many restaurants if they're opening are scrambling to become more sanitary. becoming a coronavirus hot spot would be real bad for business chipotle is so ahead of the curve here because they had some unfortunate food saft issues a couple years ago that forced them to change their protocols if you have to go out to eat right now, i can't think of a safer place on earth than chipotle but why go in person when you can get digitized you can get delivery ever since brian nickel took over as c.e.o., he rolled outweighs for people to get food they have lanes where it takes 12 seconds to get your burritos. uber eats, put it all together, chipotle was perfectly positioned for the stay-at-home economy. yeah, they use the term -- i
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love this -- people who are stir crazy -- yeah, stir crazy at home eating the same -- people like chipotle. that's why digital saltz doubled in march year over year. accounts for 38% of the business which is why it's more important than the fact they had that 30% decline in same store. that's amazing even better chipotle is taking this opportunity to expand they can do that they got the best balance sheet in the business. courtesy of jack hartung, their fabulous c.e.o mainly the real estate investment trust -- crazy about the chipotle build out they're the most desired tenant around when the reits are desperate for business put it all together and i think they have a winning format that's why i keep pounding the table, they can go to $1,000 even though i got raked over the coals every time i say it. the stock was trading at $786. it's up 95 smackers within pre-covid highs.
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when we went 18 months after the last bit of bad news now, listen to 3me, i can't stress this enough chipotle spent the last couple years doing everything in its power to win back your trust in this period of uncertainty, that was the strategy of big money for you as a shareholder not the only winners the parent of snapchat is the preferred way for bored young people to enjoy themselves during or between zoom classes that's why the stock jumped 36% today. c.e.o. evan spiegel, i think he's mad at me for being so critical when the social media company was struggling i don't know i can be tough sometimes whatever how about texas instruments, up 5% after reassuring conference call, really reassuring, they're breaking out the 2008 financial play book. it will be fine. gees, this was like pre-covid. that ignited semiconductor stocks including intel, amd and
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nvidia, qualcomm, the group may stay hot tomorrow. why? robust number from chip equipment maker lam research but nothing was more spectacular than the numbers from a stock that actually didn't go up today, that's okay, netflix. just like chipotle netflix kicked off $150 million for to support out of work content producers. at the request of countries that are struggling to meet broadband capacity in this new stay-at-home world, can you imagine having to reduce the demand what kind of product has that? finally, they snared more than 15 million new subscribers management clarified the growth rate is unsustainable. that's that self-ee facing stuff they do. i'm betting the pandemic has a long lasting impact on people's behavior like chipotle, amazon offers superior price i suspect the quarantine will be fabulous for word of mouth,
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fabulous look at it like this the company does this cool interview as -- that's what they do for their conference call where they force their executives to name their favorite netflix shows, and one's coming up. i was furiously scrambling down the names so i could stay cool with my kids next sunday with my bougie brunch. call was unorthodox. show was unorthodox. they made a ton of content ahead of time, ahead of the coronavirus. maybe it's luck, preparation, i don't know either way i think the stock is more up side and it's nuts that it end bed up 3upulling back today. cliche, print. monday, tuesday i told you not to sweat the oil meltdown. sure, the oil stocks are horrible industry is in big trouble crude went to sub-zero levels because of the futures market. sure enough, oil came roaring back today while it's still bad, whoa-ho,
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the stock is getting a little rally. you can exit again bottom line, in a very tough environment, companies with ingenious leadership with a heart are doing well by doing good turns out rewarding your employees and protecting your customers is good for business just look at chipotle and netflix both of which have more upside here because they understand that business is the greatest platform for social change ted in virginia. ted! >> caller: happy earth day, jim. long-time listener, first-time caller >> all right good to have you >> caller: brother todd is a big fan of the show. >> oh, wow, all right. >> caller: so, i currently hold a small position in union pacific railroad and after ringing the bell back in november, i still show 100% gain on the shares i'm interested in your thoughts, unp reports tomorrow i'm interested as a long-term position and what do you think about the railroad sector as a
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whole with the current covid issue. >> csx reported a number that people liked, union pacific is every bit as well run as csx here's the way i would handle union pacific. i attempted even if it's not that great, i go back and forth on this group. i'd be a buyer why? because i believe in the future and union pacific is the future. ryan in my daughter's old home state of oregon ryan >> caller: a big rip city booyah, doctor cramer. >> done your way, partner. what's going on? >> caller: thanks for taking my call and your advice during these trying times >> thank you >> caller: i'm a young investor and i'm looking to get some exposure to the financial sector while the market is still down i was wondering if you would recommend buying one of the credit card companies looking at a more traditional big bank, or should i pass on those and look somewhere else entirely? >> i'm going to offer two options. i think you should do mastercard which is incredibly run and owned by my charitable trust or you can do pay pal incredibly well run
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that stock is up so much i don't know, maybe you have to wait for that to come down a little bit why don't we get to victor in california. victor >> caller: how are you doing, jim? >> not a bad day, victor i skipped my lunch i'm hungry just pointing that out >> caller: i want to talk on speed i can expedia. they went up to 60 in a matter of a day i want to see if it's still a play you know, she got a good looking balance sheet. i'm sure they have lower overhead than a lot of the hospitality leisure businesses they own all these websites that dominate the industry -- >> i'm not a travel leisure fan, but i am a huge beary diller fan. what i regard as more more skeptical judgment about travel and leisure, so i'm okay with expedia [speaker inaudible] with the cut and recap they're doing. there we go. companies that are doing good are doing well
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companies like chipotle and netflix, and i think they've got more upside. on "mad money" tonight, as working from home becomes the new normal, how are data centers handling demand? how hot has that been? find out how it's positioning itself in the new world. plus we keep hearing about macy's and jcpenney and kohl's' in trouble the bond market, you can make a lot of money off it. don't miss my sit-down with market access. so 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 or give us a call at 1-800-743-cnbc miss something head to save hundreds on your wireless bill
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♪ ♪ we're always searching for companies that directly benefit from the current crisis. once you circle the wagons around them, the market is going to get hammered again and you need something you know is doing well right here. tonight i have another one for you. it's a long-time cramer fave called market access holdings. a bond trading platform. for years market access has been fighting to digitize the bond market i'm been a fan since we had them on, gees, 2 1/2 years ago. since then the stock more than doubled with a huge chunk of the move coming in the past month. why? market access makes its money on volume trading volumes have been off
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the charts 50% year over year in march. that's how the stock spiked to a new high last week before pulling back it's also locked down orders the pandemic has forced old school bond traders to get on board with electronic trading. i have to believe they'll stick with this platform even when the quarantine is over because it's so much more convenient. don't take it from me. let's dig deeper with the chairman & c.e.o. of market access holdings who knows a ton about this business. mr. mcvay, welcome back to "mad money. >> hello, jim. it's nice to be with you again >> well, rick, every time i see you it gets better and better. whether i bump into you on the street or you come on the show these numbers to me show me you're like the netflix of bonds, that people discovered it, it's better than what they were doing the other way, and they won't -- they can't live without it >> there are some similarities there's a new way to trade bonds that happens to be much more
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efficient, creates more trading opportunities and reduces transaction costs. so we've had a great run and we're not happy about the reasons why, given the events of the pandemic and the hardship that it's created around the world. but it has benefited our business as the value we deliver to our clients is greater than ever in this kind of environment. >> talk to me about this total credit trading average daily volume of $12.2 billion. and total trading volume of $269.5 these numbers are outstanding. >> they're big numbers and march was an incredible month because when you think about it, we started march with all asset managers and dealers operating off their main trading floors. we ended the month with everybody working from home. so our teams just did a great job keeping everyone connected to the market, helping them get set up at home, getting all the
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security certificates done properly so they could continue to trade with their clients through an extremely volatile period in march. and we did have record numbers the order flow on the platform spiked over 20 billion a day the completed orders you mentioned 12 1/2 billion per day. not only were market volumes higher in march, but our share increased through the month as there was a premium on secondary liquidity and clients came to market access to find the liquidity they needed. >> rick, do you think people will go back -- i remember the first time you were on and i was used to picking up the phone doing the trades, trying to get the best offers. i couldn't believe 30 years later they were still doing it until you. do you think there are people who have found market access, recognized that they were mistaken to continue with the old way, and are never going to go back? >> we see significant client behavior moving toward a much more favorable view of
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electronic trading you know, once traders really do see -- begin to change their trading habits they realize electronically they can conduct more trades with their client per day. they can operate more efficiently. they can be in the middle of more trading opportunities and once they experience that, they really don't go back. and we did have during the month of march a new record in terms of the number of client firms that traded on market access as well as a number of individual traders. it really shows the c-change taking place in terms of people embracing electronic trading for a much bigger percentage of their credit trading volume. >> many people felt because of the disruption from covid that the bond market would be in disarray i heard it over and over and over again i have to tell you, and not just from me when i read through the goldman sachs conference call, for instance, they found it much more orderly than it had been before how much of that could have been market access?
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>> well, i think we played a role in the functioning of the market through these extremely volatile times and i look back, jim, and you'll appreciate this going back to your early days trading high yield. but we looked at the move in high yield from february 24th to mid-march and high yield spreads moved from 400 basis points over treasuries, or the spread that investors demand for the credit risk in high yield over treasury securities, to 1200 over in three weeks. when we looked back at the last great crisis in 2008, that same move in high yield took 11 months so these were extreme conditions the other thing we observed in 2008 is that market volumes went down during the event. in this event market volumes have gone up, and electronic market share has gone up i think that speaks to the benefit of what we do to keep the entire global credit market connected on the market access platform >> so, rick, tell me, we hear
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the fed saying, you know what, we're going to expand. we're going to start buying high yield. we're going to buy municipals. does that mean that -- can you see them bid do they use someone? how can you tell if the federal reserve is in there doing buying >> well, we don't have any particular insight on exactly how they will implement the program, but our belief is that they will utilize the trading experience and straight-through processing and risk management of black rock. i think that's why they hired black rock as their advisor. it made perfect sense to us so that they can leverage that tremendous infrastructure of blackrock to implement the program. so we'll see, but i would expect that that's the way the fed will operate in credit markets. >> well, i've got to tell you -- i've got to hand it to you you told me it could go this way. i was thinking that they're high bound, they're never going to change and you got it right
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like you said, you don't want it to be because of covid, but, boy, this is the best way to trade. rick mcvay, chairman & c.e.o. of market access holdings and a visionary, sir great work >> thank you, jim. great to be with you >> thank you he told me it was going to happen frankly i was skeptical because i know that industry, but i didn't know it as well as he did. "mad money" is back after the break. i know that every single time that i suit up, there is a chance that that's the last time.
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♪ ♪ it's not just the department store that's dying it's the whole mall. we keep hearing that macy's and neiman marcus and kohl's and nordstrom is in trouble. every one of these department stores is a disaster area. they've been struggling for ages the pandemic threw fuel on the fire niemann was dumb enough to
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borrow $6 million. it's the kiss of death nor so many retailers now they're about to file bankruptcy bonds salespeople are incredible normally they can wine and dine anyone to buying almost anything the department stores during a pandemic, that might be a stretch. they pulled it off with another chain too small for me to mention on tv. that said, i think you'd have to be crazy to buy department store bonds unless you're confident macy's can get its hand on federal bailout money. i ought to know. i saw the ton of bonds for the old macy's when which 0 worked for goldman sachs. it went bankrupt a few years later. they had to suspend the dividend, which is one of the few things the stock is known for. why bother to open at all? we've lived without kohl's just fine we just didn't even need them to return our stuff to amazon you can get pretty much everything you need online anyway usually for less money nike direct to consumer. it's a zbra it's a great way to get it kohl's cash, monopoly money?
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nordstrom's problems were a bit more surprising. high end chain the late bruce nordstrom told me as great as his customer service was, amount sonamazon's is bettr can't arc y can't argue with him my mom labored selling women's lingerie or gimbles where my dad was fired from selling gaberdine trousers we knew we didn't need the department stores, but now the pandemic is making us realize maybe we didn't need any of them at all we learned sycamore, the leveraged buyout is trying to get out of the deal to buy victoria's secret. makes sense. can't try on bras when the mall is closed. wouldn't it be better to try them on at home? just guessing. it caused the parent company to get trashed.
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vf corp. tapestry, same thing. manny tarico on the show the mall is filled with stuff we don't need i remember when the cherry hill mall first opened. it was one of the first ones, an indoor palace. a paradise my grandparents lived across the street from it, october 1961 i was there. the store went up, another shopper's paradise unique, stunning then they put in tons of malls which cooled the golden goose of uniqueness it became a seller of mediocre commodities. i think that can work in a normal environment, but i read last night about epr properties. one of my favorite reits the economy in shambles. it's hard to pay rent when you're not allowed to do business movie theaters were on their way out. too expensive, candy so expensive. better to watch a movie of your choice on netflix via big screen
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at home. other malls try to save themselves by turning into a gym. nobody wants to go to a gym. they're major coronavirus incubators pet stores had a shot until chewy came online with competition. ones that have enormous scale or fabulous digital business. costco, walmart and amazon, home depot and lowe's make it and target too that might be it aside from the soft stores, inventory created by the retail crash, all of treasury's and congress's men couldn't put the h humpty dumpty of retail together again. it was a matter of time anyway howabout doug in texas doug >> caller: thanks, jim appreciate you, what you do for all the little guys out here >> you're welcome. >> caller: you do a great job.
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>> thank you >> caller: i've watched you since 1998 >> wow >> caller: and i remember your stories about living out of your car. and i think i picked -- up in 1998 living out of my car trying to be a stockbroker. >> tell you the truth, you picked up something good they're about to report. april 23rd that's my mom's birthday and citrix is doing an absolutely fabulous stay-at-home trade. if it comes down i'd buy it. thank you for the kind words living in your car you save a lot of rent. emily in washington. emily. >> caller: booyah, jim thank you for taking my call >> of course >> caller: i love your show and read your books. >> oh, thank you >> caller: my question is general dynamics their stock was doing pretty good, and then it took a big dive in march. and slowly starting to rise. and my question is how do you see the employees as a technology company and do you
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think they have the ability to innovate in aerospace and military defense >> i like the military side, get this, i like the private jet side why? because everyone is so afraid to fly public and i keep saying, listen, if you can make it so they have the ultraviolet, clean it up, the masks, the temperatures, i'm a flyer. people think i'm a crazy man i need to go to vaidi in washington state where they scott down first and covid vaidy. >> caller: we're about to flatten the curve here >> i know, because you got a great governor and great people. what's up? >> caller: i wanted to get your opinion on brookfield property partners which is a limited partnership and just the sector in general bpyi, i like them they have the iconic retail and office assets,
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also the pandemic offers some real opportunities to scoop up high-quality assets at bargain basement prices but there is also the downside of the big leverage which is further exacerbated by the fact rent from tenants might dry up. >> it's run very -- it's run by a very smart group of people i mean really smart. and i want to say that they can pull this out. they are very smart people it's not my cup of tea because i don't like real estate here other than the beach house that my wife bought but i understand the rationale all right. the mall is simply full of stuff we don't need. only retailers with enormous scale or essentials, off-price and great direct to consumer are going to really prosper here look for more "mad money" including my exclusive with a company up 20% over the last month. which company is thriving in volatility i'll reveal the name and sit down with the c.e.o. it's a little surprising
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and i'm chatting with a man who has seen six recessions in his career in finance. why does this look different and rapid fire lightning round so stay with cramer. every financial plan needs a cfp® professional -- confident financial plans, calming financial plans, complete financial plans. they're all possible with a cfp® professional. find yours at
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♪ ♪ a couple weeks ago i recommended a bunch of specialist real estate investment trusts, especially the data center reits. with millions of people working from home you need more data center space to support the cloud based software running these names have been consistent winners during the lockdown and separating themselves from the rest of the reits which are losers now digital realty is one of the largest data reits in the world.
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they operate huge servers here and abroad with last month's acquisition of inter exxon, and that is a major european data center firm. digital realty was the fourth best performing stock in the s&p 500 during the first quarter, up 16% while the averages got polaxed. i purchased it three weeks ago can this stock keep climbing let's take a closer look with bill stein, c.e.o. of digital realty and get a clear idea how his company is doing and where it's heading mr. stein, welcome back to "mad money. >> thank you, jim. good to be here. >> well, bill, i've got to tell you, you've been spot on on everything i want to start on a bright spot too many people are negative today is earth day and you announced a project, gigantic one, and i want to you talk about it because i think it's going to make everybody realize how far we've come in this world. >> be happy to, jim. so, you're right, today is earth day. sustainability is one of our top
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priorities every day of the year we're focused on sustainability because it matters to our customers, and because we think it's the right thing to do today we announced a new energy agreement to supply clean renewable wind power for our data centers in dallas we've more than doubled our renewable energy sourcing the past two years last year our renewable enter 'efforts avoided 500 tons of metric carbon emissions. we've been recognized for our leadership in the ibd industry we were named the epa energy star partner of the year just recently nare named us leader in the light award each of the last three years in the data center category and in 2019 we achieved an industry leading 29 energy star and green building certifications in sum, we are absolutely commit today living sustainable growth for our customers, shareholders and employees. >> so i see in your new logo
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section of the february 13th financial results 250 new logos for social media applications. i have to believe that those companies are saying to you, hey, bill, you know what, we want to see renewables we do not want fossil. >> you're right, you're absolutely right in some ways it's table steaks today. didn't used to be, but it is today. >> i have to tell you, when i see these things what it tells me also, people say jim, why is oil down so much why are fossil fuels down, why is natural gas down so much? people like bill stein are listening to their clients and they're saying, you know what, we can gain business if we run a cleaner operation. >> again, you're spot on you're in line with our customers. >> so let's talk about the worldwide growth you just announced your third data center in singapore you're moving aggression i havely in europe you're going to hyper scale. why those markets? i would think that the united states is the strongest market
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>> the united states is an extremely strong market. we've had tremendous growth over the last -- really since the last time i was on this show i was on this show in 2016, jim. at that time our market cap was just a little bit over $15 billion. today it's $40 billion enterprise value was 25 billion, now it's 50 billion. we acquired the public company dupont favros 2017 aventi in brazil and chile the european colocation player basically, jim, we think it's important to serve our customers around the world we have a global platform. we have a soup to nuts product offering from small cage cabinet to hyper scale
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we're the only company that does that and we think that having these offerings around the world is absolutely critical for our customer base. >> so, bill, earlier last night i read through the netflix conference call. netflix actually had to suppress a lot of its business because people were running out of the -- whole countries were running out of bandwidth i've also been focused on people who have been working from home. now, working from home must use a huge part of data center that had never been used before how much more work goes into a data center? how much more business is there because of stay-at-home work >> we've definitely seen an increase in data center demand during this crisis most of us, you said, you and me right now, in fact, we're working from home so the video conferencing, social networking platforms are customers and we've seen an uptick in bandwidth requirements
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they're under pressure to accelerate their business transformation not just consumer to consumer. post crisis, i expect i.t. departments will continue to beef up their infrastructure to support a fully remote work force. in fact, i don't know whether you saw this, but in a recent gardener survey, 74% of cfos said they plan to shift some of their employees to remote work permanently. >> the world is changing right now. one last question. again, i'm focused on hope tonight. i don't know, i just feel like it a.i.-powered tech for pathology research in one of your handouts does that mean that maybe the data centers are helping scientists to try to come up with at least a vaccine for covid-2019 >> we absolutely are the one thing that we are doing is we announced we are waiving fees for certain verticals for six months connectivity fees those include medical emergency services, educational and government
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so we're doing our part. we're trying to give back. in addition, we've given $1 million of charitable contributions to various organizations around the world to source a vaccine. >> well, let's hope we beat this thing. bill stein, what a remarkable institution you have bill is c.e.o. of digital realty, dlr. remember we said the reits you want to be are data center that's it. "mad money" is back after the experience all in one place. there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together.
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[ buzzer ] >> and then the lightning round is over. are you ready, ski daddy start with david in new york david. >> caller: hey, jim, thanks for taking my call i know you're a big fan of netflix. what do you think about roku do you think -- >> i think roku is good. roku has got that cord-cutting feel that i like i'm going to say okay. let's go to brian in florida. brian. >> caller: jim, booyah how are you doing, man >> i'm doing well, thank you >> caller: doing good, good, good i've been a long-time listener of your show, good advice. been listening since i was 11. look, i'm a young investor i'm long-term. i believe in every pfrl you have to have a cornerstone. my thing is the insurance industry haven't heard a lot about it however, a long-term player of the industry, brown and brown. >> do you really trust the stock whose symbol is bro? i have to ask my buddy, mr. reinsurance. when it comes to the insurance
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business you know i'm a chubb guy. look no further than greenberg i loved that interview it would have been postponed would have been hopping mad. let's go with sheila in new york sheila >> caller: hi, jim >> sheila, what's happening? >> caller: i'm down in westchester. >> there you go, what's going on >> caller: well, looking forward all day to "mad money" and then to "squawk on the street" in the morning. >> holy cow, you and me both we come in fired up every day. >> caller: i know you pulled us through last time, so we're going to do it again >> we'll do it again this job's gotten impossible i have to make my own dinner what is that about go ahead >> caller: well, what do you think about t. row price >> i actually like the company very much. this industry has been completely trash
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3.5% yield, people are going to save again they got very good management. let's say yes to t. rowe [ buzzer ] >> you think i'm finished? i'm just getting started i'm going to dave in florida dave >> caller: hey, jim. booyah, my very first booyah >> first booyah, okay. >> caller: ha ha hey, jim, i was looking at mrvl for a long-term play and short term play unit >> that is an intriguing company. we're going to have to do a little homework. it's not a regular reit. it is actually one involved with wireless i got a good-bye email from john ledger t-mobile at 90. i miss that guy. maybe i'll make him my co-host on fridays i have to do my work let's go to dinesh dinesh in new jersey i think we had him before. >> caller: this is dinesh from
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new jersey, secaucus >> yes they did the deal, they offered stock and didn't offer deep enough in the hole they screwed up the deal but, you know what i'm a big believer that that one's going to come back we're going to fly again we really are. my friend jim stewart said it. we're going to fly again and i do feel like united will be okay and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade free access to every platform. mhm, yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. now offering zero commissions on online trades. we charge you less so you have more to invest. ♪
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♪ ♪ i'm all about accountability i screwed up when i heard the distressing news, one of my favorite places, brazilian steak house had taken funds from the cash strapped payroll protection agency, i got angry. it's run by a private equity firm this was supposed to be a small business bailout i blame the equity firm. i thought thomas h.c. partner owned the chain. they sold it two years ago thomas h. lee owns a bunch of company but they haven't taken a penny from the payroll protection program there's a silver lining. when thomas sees gracious leader asked for a correction, we talked about the pandemic and gave us the perfect chance to invite him on the show he's also the chairman of mass general brig ham health system that's the parent of some of the most important hospitals in
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boston he has a unique perspective here he has always been a friend of cnbc mr. sperling, welcome to "mad money. >> thank you, jim. thank you for graciously pointing out our non-ownership fogo it was a great deal for us where we tripled the size of it, but we haven't owned it a number of years as you point out we're very mindful of the situation that we're in today. work very hard across our portfolio to make sure we have a high level of self-sufficiency and as you have also graciously pointed out, have not taken triple p money >> scott, let me ask you do have a huge portfolio let's say these companies were all based in georgia, okay, and georgia's got a reopening plan how many of them do you think you would reopen and how many of them are open now and how many of them would you say is the governor out of his mind >> well, i'm not going to make the political -- any political
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comment -- >> smart i did it don't. >> we're -- we were very careful about this as we entered this period, we were able to deploy our very large team of operating experts across our portfolio to position each company for what we thought could be a six to 12-month period of uncertainty and of challenges on the revenue side make sure that every company was sufficiently liquid to take care of themselves on let's call it a reasonably worst case basis. as we enter a period where we believe that there will be an opportunity to re-open more fully, we want to be equally careful. and so our team has prepared a document that has 100 different items to it, a checklist effectively, to ensure the safety of our employees across the entirety of our portfolio. and to make sure our companies
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are very mindful of both the challenges, but also some opportunities that may exist for -- particularly for very specific portfolio companies >> let me ask you, as chairman of one of the microsoft important health care systems in the world, is it your perspective that the media is too negative, the president might be too positive? i'm not trying to be political here, but i am leaning to this there are a lot of people including people i talked to 59 your institution who think that a vaccine could be closer than i realize. i think it's three years out where are you in terms of the ultimate kill of covid-19? >> so, i think the more immediate, the more immediate breakthroughs will be in the therapeutic side >> okay. >> a vaccine, according to our folks, is at least a year away from being fully deployable. we have teams of researchers involved in every one of the efforts on the vaccine side. we are optimistic there will be one. but to be realistic, we have to assume that that's a 12 to
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18-month time frame. hopefully not three years. but in the meantime, i think we're making breakthroughs in a couple of areas. the first is a number of the therapeutics that we are a major test centers for are showing very positive results, and we're learning how to best use those therapeutics and the therapeutics would be both antivirals, but also io six-inch hibbe six-inch io 6 inhibitors. we are also making breakthroughs in terms of what the protocols are for patients i think we have all been a bit disappointed in the experience with ventilators i know there was a story in bloomberg talking about 90% mortality rate for people going on ventilators in new york city. not quite as bad in massachusetts. and if you'reat a place like the mass general or the brigham, it's closer to 50% so much better results but still not where we want it
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to be. and what we're learning is that there are many things that we can do before we get to that point that has had a very positive impact on patient outcomes the other thing that we know is that most of the fatalities are of people who are elderly or with significant comorbidities of one of five different types so, the elderly population is what's really driving much of the death rates. the average age of people in italy that we saw was 79.6 years old. >> right >> it's not much different in terms of what we're seeing at least at our own institutions. so it really is focused from a mortality perspective, mostly on elderly populations. >> scott, you did say something, i know we can't be anecdotal, we can't be empirical when you talk about aisle 6, some of the things we're seeing antibodies, that does make me
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optimistic i don't want to get too optimistic we had something like that happen last week in chicago. but is it your perspective that the tests that you see going on, without revealing anything, the tests you see going on would make us feel better as a people who are so fearful right now once we get to the hospital? >> i believe so. i think that there have been early reports out on a number of different antivirals let me just say that and i think what we're seeing is reasonably good results, and we're learning how to best utilize those antivirals, at what point and for whom. so i do think we're making very good progress. you know, look, they call it novel for a reason nobody's had it. we're all susceptible to it. it spreads like wildfire because of that. the only positive is the
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virilence for most people is high it leaves people with mild to asymptomatic condition, and i think our health care system is getting much better at dealing with the people who actually need hospitalization we've done a really good job in massachusetts, charlie baker, our governor, marty walsh, mayor of boston, many politicians have worked hand in hand with our health care system and we've made sure we had the appropriate capacity to deal with the high acuity cases that pop up so we don't have situations where people are waiting in hallways for lifesaving help. >> well,look, scott, i want to thank you for your graciousness, everything you're trying to do to save lives and for running a fantastic firm scott sperling is the copresident, thank you, sir, chairman of mass general brigham. good to talk to you, sir, as always >> thanks, jim >> i like it stick with cramer.
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♪ ♪ here's something that's not supposed to happen we had good earnings lam research, capital equipment company, we like it. this blow out, the numbers, kimberly was blowout i've got to tell you table the ibm those that sold at 116. it's all the way back. before you guys decide it's all over, the numbers are good 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" hosted by my friend scott wapner starts now. there's tv, and then there's
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the best entertainment experience. xfinity x1. this is the first step in figuring out on day 115 of the coronavirus crisis and breaking news tonight the president saying he disagrees with georgia's decision to open some of its businesses this friday. >> this is a first step in figuring out what the new normal looks like. >> some american states get ready to re-open their economies and test the waters. is it safe >> this is going to keep going we don't see an end to this. are we setting ourselves up for disaster plus -


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