relentless. money flows into clorox, procter & gamble, along with the fastest growers like amazon. but that whole move ended today. the dow dipping 13 points. the s&p climbing 1.4%. the nasdaq did not tell the story of how bad some stocks were today. how come growth is suddenly going out of style? it's just plain fickle. many of the industrials got beaten down the point where they spotted -- juicy dividends, far greater than you would get from treasury bonds. take eaten, here's a conglomerate you're familiar with if you watch this show. that's been a veve poor pepeormer over time. stock traded up to the high 70s this spring, some sort of acquisition that could take
advantage of eaten's domicile. got that really good tax advantage situation. didn't matter, the company consist enthely missed wall street's estimates. the stock drifted down to $51 this morning. where it had a 4.25% yield. there's a giant shortfall at work. $240 million worth of revenues vaporized. among many other faults, the company has too much oil and gas exposure. i've been disheartened by this downward spiral. i don't their things were all this bad. especicily since eaten's ceoeo came on the show and told a pretty good story. it fell on deaf ears, though, and now we know why. eaten didn't have the horses to meet the estimates. this morning i talked about it on mad dash. etn can't get it right.
no. after dropping about 50 cents, etn's stock jumped higher, closing up 1.10. how is that possible? for r arters they've been caught in a horrendous bear market. this bear market met its nemesis. the stock bounced off the level you would expect it to take out in wake of the really bad news. that's the fuel behind this bounce, a stock with an accidentally high dividend yield. something that caused many industrials to stop going down during the great recession. including etn. etn's dividend has been set at a safe l lel. the ststk i'd say that levelel seems to have hit a bottom. how about dover, dov. another we don't talk about, that's centered around oil and gas.
lately. maybe that comparison is unfair to the aninals of the canine persuasion. dover's been hammered relentlessly thanks again to the fact that there's some oil fueled explosion. they've been mauled by the bear sliding down to $55. when many industrials rebounded. the company reported this morning and it was hideous. [ babybyrying ] >> dover delivered a big revenue buy down. minus 10 to 11%. lower than earnings slashing. it was a tremendous set back for those who thought maybe -- it is hard to imagine a worst statement from t t ceo than what robert livingston saididhis morning. thanks for nothing. what happened to dover's stock?
instead of plummeting, it roared higher. faulting nearly $4 and just 6%. dover simply going down too much. throw in a 2.89% dividend yield, and you get the recipe for rebound. and the same goes for utex. the formerly fantastst congress glomer ate that seems to have lost its way. they make otis elevators. it didn't help that delta airlines reported, talked about a wide body aircraft, glut, never good news for united technologies. the u.s. government doesn't seem inclined to boost the defense budget. it's no wonder that the company just reported an $800 million revenue shortfall this week. the stock had already traded down from 124 this past february to $85. that's a bear r rket for you. that was three weeks ago.
today's revenue shortfall, united technologies on that horrible buydown soared. some people say y wasn't much of a die down at all. the stock was also helped by a newly announced $12 billion buy back. as greg hayes could buy back stock, because he thinks the stock's cheap itself. i'm tempted to agree with minimum. these are breathtaking moves. unlike these other companies, ppg reported an in-line number. what do these companies have in common? why can't they snap back. how about a belief that china can't get much worse. how about something that says europe's getting much better. maybe the fed is on hold, whatever, it's working. and these gift horses are not
getting an examination. take harley-davidson, a company that has a stellar track record. in the meantime, inventories are too high. harley was down $3 from its recent high. that's not enough in a bear market. unlike dover, eaten or united technologies, consumer exposure, and that's not something to bank on right now. hog finished down $7.80. almost 14%. then there's ibm. what can i say about ibm. not enough acceleration. the stock got slammed down for $8. even though it had already fallen $27 for the highs. my conclusion, ibm is not industrial. it's a tech stock. we shouldn't try to shsh horn it into another sector.r. more on ibiblater. how about lockheed martin, they delivered a nice earnings beat, they didn't raise their forecast
at one point it was down 4. my take, lockheed was never in a bear market to begin with, it doesn't share the characteristics of today's bull in a beaten down stocks. lockheed martin's a buy. of course, as usual, the ininstrials are going totoally, the money has to come from somewhere. today it came from the biotechs which got murdered and tesla, amazon, google, as well as chipotle. take valiant the political heavens remain too much for valiant it's cascading money. it's up ending its business model now to spend more money on new drugs. that potentially slowing growth that will cause that spilled over and everything -- most definitely what people think is
has been annihilated. we just can't t em to put together a decent streak where we are bear free, even for a single day. here's the bottom line, it's clear to me some industrials went down too much. it came roaring back on negative, not positive news. let's go, when the disgusted holders have already sold, leaving behind hardened shareholder base, that seems to be able to tolerate -- >> the house of pain. >> -- endless pain. >> booyah, how are you? >> home of the world champion new england patriots. take down the jets this week. >> we have some jets fans in the room. >> merck, biotechs are getting killeded buy, sell? >> no, merck is very tampa bay leer, i don't want to touch it.
helping it, we have a lot of the drug stocks. a reordering in the drug stocks, the one i like, it has both diabetes and anti-alzheimer's is lilly, lilly got hit really bad today. let's go to curtis in north carolina. curtis? >> caller: yes, hey, jim, thanan to you and the mad m mey team for taking my call. i can't wait to see you on the debate feel. >> that will be fantastic. >> caller: raytheon, what are your thoughts. >> i think ray thighen is real good, i happen to like lockheed martin now more, because they were down today, but raytheon is terrific. all these countries need defense these days because of all the troubles worldwide, that means you need missiles. and you need to be able to shoot them down. how ababt key in florida? >> caller: kramer, looking at paypal long term, in and out. mark cap, looking at 41.71.
investment. >> this is a position owned by the chapel trust. we think it's bottoming here. it's been a terrible performer, i think you should wait until it goes lower if you want to pull the trigger. the rotation is back and it's relentless. and d ople got too negativivon the induststals. and now they're having their day in the sun. on mad money tonight. ibm hit a five-year low. i'm heading off the charts to find out if big blues blues could continue. how do y y solve a problem like slowing growth? when it comes into this market, to each its own. when opportunity knocks? carrizo answers. i have the latest with the ceo to see if the move can help the company fend off lower oil prices.. stick with cramer. >> don't miss a second of "mad
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plunging to five-year low. they cult their full year earnings forecast. it looks like big blue has got the blues. ibm's newer faster data. we know the company is trying to turn itself around. the sentiment is overwhelmingly negative many that could be a positive. after the quarter seems pretty clear that ibm deserves galore. when the share price gets obliterated every time earnings season comes around. what's the point of owning it. the question is how low can ibm go before it finds a bottom. at what point have they been punished enough. he's a chahaer market technician, who's a professor as well ac being my colleague at realmoney.com. get a sense of where ibm may be
headed after this quarter. i devour bruce's stuff, very thoughghul. for starters, let's zoom out to this long term charter, going all the way back to 2006. they think this picture provides you with some excellent context for the move. we know that ibm had a lengthy four-year rally starting in 2009 as the global economy bounced back from the recession. in 2012 and 2013, ibm stock topped out. this chart tells us ibm remains s stuck in a multiyear down trend. why don't we zoom in on ibm's daily chart. you can really see the impact of that downward sloping channel. ibm is well below its decline ing daily average. perhaps the worst part of this picture e what's known as the on balance volume line down at
this is a momentum indicator. whether money is flowing intntor out of the stock. in in the case of ibm, the on balance volume peeked along with the stock price back in may. see, there's's- it's up there, okay. you can see that this thing is kind of -- confirms. and lately has plunged to incredibly low levels. adjusted to many of ibm'm'major shareholders are continuing to liquidate its positions. i saw that, i said, we're clearly not done. the big boys have been bailing for months now. but today's brutal selloff, really ago selling rated that process. in the wake of last night's disappointing results, the average daily volume for ibm is a little more than 5.3 million shares many did you know that the first 45 minutes, more than
already. the stock made that new 52 week low. now, i have heard some people argue that given ibm's two recent previous declines, the stock might be making a triple bottom today. that's what i hear, okay. right? cambridge thinks it's way too premature to be called a triple bottom. for that really to be the case, the stock would need to rally sharply from these levels. back do 152 to confirm a triple bottom. that doesn't seem likely. the discouraging conference. it's highly unlikely it's going to trade w wre it did after that call. if ibm is not bottoming at these levels, how low does cambridge think it can go? here cambridge points out the
already been in a downtrend for the last 12 months and has the stocks on balance volume. both of these indicators are getting uglier, not better. suggesting ibm isn't finished going lower. we have to ask, how much lower. cambridge thinks it's worth checking out. a longer term chart going back to 2001 in order to define ibm's down side. this chart shows you the key resistance levels. in 2012 2 d 2013 ibm peaked after it failed to break out above the 210 level. it's like a ceiling, okay, guys. let's go back a few years later to see where ibm peaked. they repeatedly ran up against the ceiling of resistance of 125. this is what technicians call prior resistance. once the stock breaks out above a past ceiling of resistance, tends to be a force of work.
$16 below where it's currently trading. 125, possible price target. he's not sure that the floor of 125 will hold. i'm telling you, this is one of the worst charts in the book. to really get a sense of potential doside. this is a picture that sort of looks like a complex game of tick t tk toe. this is a point and figure chart. it's a way of plots the stock without the passage of time. measure significant price movements and filter out the insignificant ones. in the case of this chart, cambridge drewewp for ibm, each box is worth $2. a column of xs indicate a rising share price. a column of o's indicates where the stock went lower. x o. >> you can still see ibm's rally
then the peak followed by the subsequent decline. and based on the way ibm has been repealing its previous rally, they could take the stock all the way down do, are you holding your breath here, 116. that's because years ago, ibm rallied in a straight line from 116 to 148, which is roughly where the stock was before the company reported last night.t. cambridge wouldn't be surprised at all if we repeal that move and the stock tumbled 18% down to 116. even though i wouldn't go near ibm after what the company told us last night, i was disappointed. even though ibm sales are steadily shrinking, the company still pays a large and safe dividend. i think the negatives will get priced into the stock at a certain level. betting against ibibhas been right for years now.
forecast did come true. let me give you the sorry bottom line about ibm. the charge isn't governed -- even after today's brutal loss. i have to agree with him, i just have to. the stock is too worrisome to own. at least as we get some sort of stabilization. after these disappointments, doesn't seem all that certain to me. much more "mad money" ahead, four different stocks. four different paths to growth. which company could come out the leader. could corrizo continue to croll its destiny. how could a newborn help heal wounds? i'm getting a firsthand look at the technology at your request, one of you called to ask about
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here's ibm. slow growing old software technology business. the hope had been that the quiui mover portion of the company would be able to accelerate to the point where you would stop fretting about ibm's losses. trying to eliminate losses on the legacy side. trying to provide a bountiful buy back. it doesn't seem to be working. as the good part of ibm's not growing fast enough. and the decline seems to be accelerating. the buy back and dividend aren't enough to support the stocks. ibm fell to an all time low today. second there's sandisk. they haven't beeeeable to deliver strong numbers, it's sure trying, though. companies hit a wall.
itself. maybe to western digital. that's an admiral way to reyarar shareholders, the category of commodity flash has gotten too hard to ap big profits from. on that common sense approach to selling growth, what about walmart. this company's another retailer and formerly fabululs grower. cutting to the bone in order to keep his prices low. now it loooo like they cut through the bone. the ceo has decided to throw money at the problem. raising the pay and the pride of the workforce. this gutsy move could end the death by 1,000 cuts. that's hurt the company so badly. >> the house of pain. i think it's necessary to preserve walmart's long term viabilities. that's a very amazon like move,
the support of the walton family. extremely prodividend weren't the biggest shareholder at ibm, i wonder if ibm wouldn't be as bold as walmart. i wonder if thth can pull off the trananction. the stock has yet to break out of its tailspin. off fractionally again today. there's young brands, the parent of kfc, taco bell. compans choosing to spin off china, which is the potential for accelerating growth, but has lately fallen on harder times. here's a strategy that could reward shareholders. the rest of the chinas, it's not so hot either. you know what? i'm not sure i want to have a piece of that chinese business of yum. and it's going to be a long road for the spin-off anyway, so after initially rallying three,
the stock settled up only 1.32. that's important. let me give you the bottom line here, four companies all dealing with slowing growth. all with credible strategies. only one with a quick payoff. that's sandisk. the rest are only for the patient and perhaps the unrequited. in many ways it's better to go with the stocks of companies that never got to the place in the first place. they need to deliver better than expected results, which none of these four have been able to do. sara in cacafornia. >aller: hi. >> sara, how are you? >> caller: love your show, love your book. >> thank you. >> caller: here's my question, jabeel circus, do you think their stock would go up ininhe
next year? >> i would rather own apple. i like the consistency of apple, it's inexpensive, i want people to own it, not trade it, it's rarely been treading water, that's okay too. not every stock has to go up, it's okay. >> stewart, how are you? >> how are you? >> i'm great. >> about three years ago when i retired, i took some of that retirement money and i bought sony stock, between 17 and $18 a share. i hung in there with it, and i think it's making a turnaround, and i'm wondering what your expert opinion is on sony's future. >> first of all, congratulations, that's the kind of story i love. a lot of the big managers were giving up on sony when you went in. that weak yen n s been good for them. i like your call. how about raul in virginia, raul?
>> my question today is about $3 d systems they dropped off significantly since 2014. >> i don't want to be there today. it will be buried by hp. i'm perfectly happy with you buying that, it's going to be a good splitup, even right now, it seems odd dead in the water. four companies and ffur solutions for the same problem, it seems like maybe a little too late for ibm, sandisk, walmart and yum? i don't know. i like sticking with better companieiethat never get to thth point to beginith. > much more "mad money" including my interview with the ceo of corrizo. is it worth eyeing a biotech player that's fallen 30% since its peak in n ly? it's a company called mymedics.
even with the price of crude pulling back to the mid-40s. you have to recognize that not all producers are challenged companies with overstretched balance sheets. there's still a number of high quality independent oil producers that are doing everything t ty can to take control of their own destiny. considering corrizo oil and gas. it's a $2 billion independent exploration company with lots of low cost assets. they've been aggressively cutting costs while doubling down o oproductive and cost t effective wells. they've added a bunch of hedges, plus just last week they did a big secondary offering. a 6% discount to where the stock closed the day before. everyone who got in on the offering has m me money. not much, the stocks trade around 39. corizzo did another share offering in march.
and while it looked like a good deal at the time you're under water. at these levels carrizo has already rebounded $10 from its late september lows. once the third quarter ended, the stock took off, i wouldn't be surprised if there was a littleleore room to run. let's not forget carrizo has rallied -- let's hear more about his company, where it's headed, what it's doing. welcome back to mad money. >> thank you, jim, glad to be here. >> you raise the money because you're a prudent man. you also talked about in a conferenen call, you have a pretty strong balance sheet. we're trying to take advantage of opportunities to expand. it hasn't worked as well as we had hoped. is that still the case during this most recent plunge?
>> no, the bid askas come in and we're trying to take advantage of that. the main reason we did the quitly offering, we have some deals in the works that we're trying to close. none are guaranteed, we think we're going to get some of those closed and maybe half the proceeds would go o closing those deals, some that have production with them. the rest of the capital could go to drilling on the deals next year, depending on what oil prices do. >> what's a typical break. what would the wells cost? >> there's a lot of wells at this 45, 46 that don't'take money. that, in the eagle ford, for instance, we could drill wells for $4.8 million that would break even at 40 to $41, i think 80% of our inventory breaks even at $41 or less. the wewes are more expensive, some of the ultimateecovery of these wells are higher than the eagle ford, we think the break even prices are probably going to be in the same areaea that's why we're focused o othat regigi. >> are you able to lay off some risk or bring in even more
income by doing more hedging or selling calls to make it how you augment how much you get in? >> we have done that recently, with this rally in oil prices up to about 50, that brought the 12 month strip into t t low 50s, we were able to hij some oil in 2016 for $60 a barrel, whijh is well above the numbers we've run in our models. to do that, though. obviously, we had to give up something, we e ve up -- we wrote some calls for 17, 128, 19, 20. bedon't like giving up upside, prpres are going to come back some day. we felt that was prudent to give up 10% of our production in order to lock in 2016 and be comfortable. >> what does it look like back there? i know a lot of guys have gone real bullish. are you looking at a universe where a lot of the publicly traded companies could end up
or is it really just small operators we don't know? >> i think there's some big companies that might have stretched too far, you're right in may, we were under a lot of pressure to add rigs, oil was starting to peak above $60 a barrel. we didn't fall for that, we needed to see $65 per barrel for a long time and understand the fundamentals for it, we didn't do that, there are some big companies that are starting to get in trouble. the markets seem to be finds ways to get them other sources of debt or some sort of mezzanine debt that can bail them out. >> what is the fair price for oil, do you think? >> it's probably a fair price now.
risk premium we saw is gone. that's a little troubling, because they're not a a t of barrels left in the world that can come on, we know how many there are in iran, some of that could come on by year end. beyond that, opec doesn't have that many barrels left to add, with the world running at almost 97 million barrels a day, it wouldn't take that much that we could have a problem. ththrisk is to the upsidid i don't think there's that much down side risk from supply and demand. goldman may be right, we could dip into the 30s if the chinese get the flu and all theory finers have maintenance, maybe that could happen. ititeems to us that we'r'rstill in a trough, there's going to be a big upside gown the road. and we're trying to become a big call option to take advantage of that. >> is there something going on that we're not thinking about. the saudud are working on some new frackiki technology so they could dramatically lower the cost of oil. maybe we're looking at we're not as near peak oil as we now the, and the saudis have a lot more they can mum snp. >> i h hen't heard that, i w wld
been looking into those techniques for some time. horizontal drilling and fracking has been around since about 2005. most of their reservoirs tend to not be shale. it's not as necessary to do that to get the oil out. it will come out without spending that kind of capital. >> i want to thank you so much chip johnson, president of carrizo oil. thank you. >> thank you, jim. these guys are not only going to survive, they're thriving, because they're prudent and conservative. supersize your lashes. advertise your eyes! supersize your lashes. hypnotize the guys! covergirl's supesizer mascara with the amazing lash styler brush. it loads on. combs through. for dramatic volume. corner to corner. volumize. mesmerize. superse your lashes.
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it is time. it is time for the lightning round. whenen play this sound, the lightning round is over. are you ready? we start with jude in california, jude? >> caller: hey, jim, the third time is ththcharm, i've been waiting to talk to you since friday. >> i'm glad you called thank ywu so much. >> caller: i was wondering what you think about aray? >> kray? aray? good spec. this is a -- when we get into these -- you get into companies that do this kind of machine for radiation therapy and -- just kind of radio surgery, i always think of isrg, which reported a really good number tonight. let's go to scott in utah. scott? >> boo-yah from utah.
>> nice. >> caller: looking at pwr? >> keep looking, i didn't like that quarter. that was disappointing. phil in florida, please. >> caller: yes, boo-yah. we have cvrr. >> i know, that yield looks fine, it's a refiner, the refinery i like is down today, it's hfc, i think that has the most upside. shawn n california, please,e, shawn. >> caller: what's up, jim. this is shawn garrison. gas log, man, what do you think? >> no, there turned out to be too many carriers, there's a carrier glut for natural gas. that's importantnt i prefer nat, which is a shipping company for oil. let's go to michael in new york. michael? >> caller: how's it going, jim. >> all right, how about you, michael. >> caller: good. i'wondering, i'm a 23-year-old investor and i think i want too
mutual fund which has been very well performing totoy aig stock? >> i like aig, but i think secondary travelers, travelers had a big move today you can't go. let's go to webb in in north carolina, webbbb >> caller: big boo-yah from the home of the undefeated carolina panthers. >> well, the eagles are coming to town, why don't we take a look at that. >> caller: i got in at 18.70, it's not looking good, are they a mess? or where are we at with it? >> no, no. this is a copy -- they have a lot of ipo's, the market's been week, it's going to come back. that's the conclusion of the lightning round. >> the lightning round is sponsored d td ameritrade. you get a cold. you can't breathe through your nose. suddenly, you're a mouthbreather.
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is it time to start circling back to some of the high flying speculative health care stocks that have been obliterated the last few months? at a certain point, some of these once loved well hated companies will subtract values. take mgs. they take donated human pla essential ta tissue and turns it into skin grafts to help the body recover from all types of
wounds. wounds heal 60% faster when doctors use their placenta based skin grafts. the medics have a number of products on the market. trading different kinds of surgeries and wounds. all together, they could have a $16 billion total adjustable market. it's enormous.s. however, after rocketing higher for multiple years, the stock peaked at 30% from july. up to $8.89 as of today. a lot of the weaknesses have been because of the whole gh flying medical technology network. it just happened over the summer. when medics got hit with another leg down on tuesday of last week, after the company gave what many investors considered disappointing guide answer, 49% sales growth, the company has to buy back boosts from 10 million
to $40 million. has medics been punished enough? the company is profitable. it's not that expensive when you consider its explosive growth. let's dig deeper with pete. he's the chairman and ceo of my medics. welcome to mad money. have a seat, sir. >> so your first time on our show. we h he a unique proposition. can you describe what the placenta is, what it looks like, where it's from and why it's working? >> first after all, it's not a very attractive looking organ, it's the afterbirth, over the decades it's been thrown away, the system has to pay for medical waste. we found a way some almost 10 years ago to take the placenta, strip the a.m. knee ottic membrane out of it, it comes out at the other end with something that looks like wax paper. >> these are stem cells from
to give away? >> they're given away, through the hospital as a gift, you can't pay for placentas or dodoted organs. our staff is there to collect the organs and put them in a special fluid and bring them back. >> what do they look like? >> this is one of the larger grafts. it looks like a piece of wax paper, but it's -- >> this is it? >> that's it. that's got a five year shelf life. >> this is actual tissue. >> that is human amniotic membrane r r through a special process. when it cos out the other end, there are 200 plus proteins in here that are in the placenta before we process it. >> what would you be using before this? >> what people are still using that they don't know about? >> there was a couple products at were on the market for about 10 years we used in
advanc wound care, bioengineered products, they were very expensive, one size. our product line comes in sizes from as small as your finger nail to larger sizes in terms of burns. our products are proven to be much more effective, they close wounds 2 or 3 times faster, they're cost effececve because of size difference. >> military's been using it? >> military's been using it, it's a preferred product of va hospitals. arouou the country we've become the industry leader in advanced wound care. >> covered by insurance? >> 85% of insurance. >> i am told this can be used on many more marts of the body than it's currently being used. what's the rollout? >> that's correct. we have spent ththlast four years putting our popotion in place in terms of the dominant
the product over the last couple years has been finding its way into surgical procedures. for instanan, procedures, plastic surgeons, most surgery on the face, cancer, scar tissue reduction is foremost in the key issue. a lot of plastic surgeonon a lot of general surgery, procedures that -- abdominal procedures where adherence to the abdominal wall is a key issue. that causes pain. spine surgeries. >> when the stock got hit, you announce the expanded buy back, you are earning money. good chance for your company to be picicng stock up? >> we'e' done that, we have done that from time to time. we were talking strategic matters in terms of new products. >> right. >> t ty were focused on, w wl, telllls about fourth quartrt. >> i hear you. >> we have 16 straight quarters of beating or exceeding revenue growth. >> welcome to the new world of what's going to happen tomorrow,
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after the close, chipotle reported some disappointing same store sales numbers, if you bought chipotle after the second day after disappointment, for a long time it's worked out. we're going to do more work on chipotle. ibm, i don't think it's done going down it's a problematic situation. i thought it may be at some stabilization level. that turned out not to be the e case. valiant cannot stabilize. until it does, most of the drug companies will continue to trade down, because it is regarded as the one that is it the hearth fund favorite. and they are bailing from brx like there's no tomorrow. there's always a bull market somewhere.
tomorrow. it's wednesday, octcter 21stst. coming up on "early day." congressman ryan is talking up the perfect position while joe biden is giving more hints that he's going to challenge hillary clinton clin we've got the brand new consumer reportser vase on the best and worst cararnd suvs. news involving a shoot out in harlem. and what no air traveller should attempt if they miss their flight. and it's "back that future" day. "early today" starts right now. good morning, everybody. i'm betty nguyen.