vaulting 1.66% and the nasdaq screaming higher 1.65% n. the last 24 hours we have witnessed some of the greatest short gains i have seen as well as downright disastrous bets against companies that manage to produce heheuleanly fabulous results. today it did so in breathtaking fashion. before the winners and the losers let me say unlike almost any other time i can recall it's the action of the panicked short sellers that are in charge here. they are controlling the prices you see. they are the ones who are moving stocks in either direction. sure today we were helped by the european central bank staying easy for longer than many thought. whwh's driving the markekeon a moment to moment basis is short bets that are gone awry where they are in the whole market where big hedge funds buy s&p futures in order to cover shorts
sellers who had to cover shorts by buying stock because the sellers never materialized and there was furious buying instead as hedge funds came in to get me more action. now i actually like short sellers. the shorts play a key role in the market. short selling is a vital part. it exposes frauds and faults. they make money when companies falter or when shareholders capitulate to fear even if nothing is wrong.. the shorts lose money when the expected and they have to buy back shares they have shorted or bet against. sometimes for much more than they initially soldle them for. today we saw a ton of short bets go bad creating spectacular wins for the longs and it only got more difficult for the shorts after the bell. when we saw some stupendous gains. let's ststt with the huge
how about alphabet known as google and amazon. both of the companies which have had incredibly inconsistent earnings making them, of course, fertile ground for the short selllls just crushed the numbers after the close totoy. it's been difficult to figure out how google was doing when it reported in the past. not this time in its new alphabet iteration. we saw amazing gains across all lines of the company and a $5 billion buyback to boot. that's a shorts pulverizer. how about amazon? holy cow. tonight amazon reported an actual profit. you heard me. amazon reportetea profit, one that walmart would no doubt t je louse of. in the last two days we have been hearing, o geez, when you went on the floor of the exchange down there all we kept hearing was people were shorting fang, facebook, amazon, netflix
they w we acting funky and betting against it. netflix may have failed to deliver. but the a and the g are roaring in after hours training and so the fafabook. sellers who have been pressing them down for days. the only fly in the fang outlook what do i do with the g? that's not much of a name now that googlele is alphabet. these ararmoves sending up tomorrow's s ssion. that's just the tip of the iceberg. shorts have been obliterated albeit not as dramatically as fang. where did the shorts go wrong? that's the essence of what really happened today.% not that things were so spectacular. they weren't as bad as we thought. let's start with the banks. hedge fund managers believed that the fed would not raise the rates figured the banks whicic
if w wdon't get higher rates they are a natural pushover. when they reported they did go down. the earnings weren't that horrible. the possibility of a rate hike is within our sites. the group failed to produce sellers which h what you need. the remainininshareholders didn't capitulate. especially with the possibility the regulators will be going for larger buy backs that was the hallmark before the great recession. look no further than jpmorgan. remember when it was going to have a disappointing quarter. there was hammering, crying and fear. stock is up big since it reported. the industrials were part of the rolling market we know is pressing down health care pupued downy weak china sales, hailed as dangerous by the fed's fears of the weakening economy and victims of the strong dollar.
going into earnings season. general electric reported first. it delivered a spectacular quarter. since then we have had company reports with a little bit lesser gains. 3m like today. yet they are -- anyway. simply too cheap. the shorts were betting against them. boeing because the ceo of delta last week said there was a glut of wide body airplanes. that struck here fear in the emboldened the shohos. in retetspect it looked like a canard that forced the shorts into an everallying market. meanwhile the dollar is stronger but it doesn't matter. there is a sense that china is improving or about to do huge stimulus as well a athe fact that the chinese stoto market lest i forget about today's bullish comments from the european central bank. the markets were up huge. it spread to ours.
and coca-cola have been viewed when hedge funds were concerned rates would go higher they shorted the stocks. the added layer of security that they would succumb to the dollar. but the fed didn't tighten and the worries diminished. almost all these companies beat estimates because ofofeclines in raw cost. the fantastic numbers we got from mcdonald's today were the coup de grace which was seen as a faltering company with little nope. too cheap. real turn around. more on that later. finally over looked because it was linked to personal computers was old tech. the internet of things has replaced ailing devices as the main driver of companies like by the way, texan delivered an amazing quarter last night plus
the western digital san disk has helpededhe group. why? firmer pricing, better profits for the companies. then after the close today we got an incredible number from microsoft. a huge earnings beat sending that old dog soaring in after hours in pararbecause of a stunning increase in its cloud-based busine. looks like the old tech move has more legs than people thought. do you know what's incredible though? the shorts may have been skunked by what the europeans did to spur growth. they have to be shocked that f.a.n.g.'s got fangs a ain. they have been coining money in an area that was the biggest generator of profitsor ages -- health care. that's right. the bets are playing off huge here. i want to give the shorts their due even on a huge up day. first they nailed drug roll ups to the american companies with european headquarters. they used tax regimes to acquire
immediately. specifically the shorts have just been obliterated. questioning the accounting not to mention the business model. they have made ftunes. valeant traded at 88 yesterday. the hospital stocks have completely collapsed. ththe former darlings have been the big winners from the affordable care act as millions got insurance. but the patient count slowed down and the hospitals are disastrous. community health systems, a beloved company since obamacare, plunged 35%.%. how long did it take? today. one day. 35%. every single hmo is being slammed from the pit action. a wholesale slaughter. finally the biotech because of unpalatable e ug pricing. thank you for nothing valeant, you wrecked the sector and the
group has been hit hard. i don't think it will snap back. not quickly. we are in an election year. the shorts go -- but health care has been amazing. amazingly bad. the bottom line -- this market has been turned on its head with what looked like fabulous shorts turning into magnificent longs and vice versa. it's this sea change, not the numbers, not the reports that explain so many of the moves we have seen. they are exaggerated moves since the start of earnings season. three short weeks ago. the sea-change for the most part is proving to be astonishingly bullish because it wasn't supposed to happen. things weren't supposed to be good and they look to be better than anyone thought, least of all short sellers who bet
against them. let's start with calls in ovin in maryland. >> caller: boo-yah, jim. >> boo-yah. >> caller: i'm in howard county, first, thank you for taking my call. i'm a first generation i.vestor. i manage my portfolios and both thank you for that so much. >> you're welcome. appreciate it. thank you. [ cheers and applause ] >> caller: my question is in relationship to the stock i purchased at 35 cents a couple years ago. now it's up to over $4. the stock is sirius xm radio. i listed a conference call and i'm excited about it. >> you should be. firsrs congratulations. fantastic work. i think it goes high. a lot of cars being sold, 18 million. a lot of cars are staying on the road and they want to install sirius. i think sirius is a necessssy for many people. stock goes higher. mark in new jersey.
>> caller: big jersey shore boo-yah to you, jimbo. >> ocean grove boo-yah back at you. >> caller: ford motor company, f. i took a substananal position a few dollars back. it was a nail biter for a while. now that it's trading roughly $15.58 do i do the moron trade and put more on or take the money off the table. >> as you know from action owners plulucom i don't like to violate the bases. i don't lili to pay up. but ford is just a quarter or two behind gm and will catch up. you know i think china is coming back. gm has big business in china. i like ford. i think it's fine. all right. we saw some of the greatest short gains i have ever seenen including alphabit and amazon. we are seeing shorts turning into longs, putting the sea change in charge of the market. tonight one of the great american companies you may not know about. sitting down with the ceo. and talk about a happy meal. mcdonald's reporting increase
i will tell you if the turn around has legs or if it's time to et. and could all the deals push cyprus semi higher? i'll sit down with the ceo to find out. why don't you stick withthramer? >> don't miss a second of "mad money." follow @jimcramer on twitter, have a question? tweet cramer, send jim an e-mail to firstname.lastname@example.org or call us at 1-800-743-cnbc.
head to madmoney.cnbc.com. let'talk about a high quality company that's really working now -- snap one incorporated, maker of premium tools and eqeqpment for everything from water repair, agriculture, mining, m mitary, wer generation clienen. that is stock that's been climbing steadily for ages. up 20% year to date but not enough people have heard about it. looks like snap-on has more room to run. they just reported a robust quarter. four cents off 1.94. the sales came in low but it didn't matter. the company is seeing some of the highest. one of the stocks shot up 2.5%. let's dig deeper into the story with the chairman and ceo of snap-on to learn w wre it is headed.
>> great to be here. >> when i say organic growth and you have a huge organic growth you have invented new things that arereriving sales. not like yououought a company and tacked it on. >> that'right. one of the things about us is our people are in garages for more hours for more days. i was just in a garage riding in one of the trucks. during that morning two people suggested a different product to me, one to take off the oil pan on large trucks and another for toyotas to get inside the wire harness without disrupting it. that drives the business. we make hand tools, for example. we guarantee them for life. how do we have a bususess? cars keep changing. like this. this is a brand new one. >> this didn't exist. >> it didn't exist three months ago. it just came out. it's setting records. by the way, this thing is faster, lighter than ever before.
it has more data, more data. >> i hook it up -- >> it's wireless. it's a laptop. you plug it in -- plug in a special module to the car and walk around wirelessly. computer codes in a car, watch the car's heartbeat. allows you to put the car through the paces. diagnostic system in the car stand up and do dog tricks and tell you what it's doing. then yououan look at what the manufacturer sayayto do about the data. then you can do our special proprietary data that will tell you, boy, 90% of the time when the car says this, this is what you do. short cut all that stuff. nothing like it. >> you have basic stuff people don't have that are equal to the times. >> right. >> like this. >> this thing -- we are all talking about hybrid cars. they have 300 to 350,000 volts
kicking around inside the car. thisishing will insulate you to 000 volts. you don't want to fool around around the batteries with a tool without being insulated. we have a line of tools that will do that. every time a car changes we have new things to bring out. that's what organic growth is. if you are talking 7.3% in owth you are talking about bits, bites, tools, liners and lifts that we sell more year over yearle. that's what happened this time. >> we talk a lot about the internet of things and the connected car. we don't talk about the fact thatathey can't be fixed by aaa when they come to see you. >> exactly right. today, cars are more and more complicated. it used to be measured in the 90s you measured engine codes on a car in the tens. now it's in the thousands. this is the wave of the future in diagnostics. this thing i talked about is the wave of the future. if you go to independent fwrajs,
ten repairs need this. with newer cars it's 7 in 10. soon e erybody will need thihi and we have a full range of products. this, top of the line that deals with complicated repairs. this one i talked about last time on the show which just the maintenance repairs. if you want to change a battery, sometimes you have to reprogram sml. if you want to change e l you have to do some things. >> we're not just talking over seas. china, weak. military is weaker. >> right. why has it not brought down >> we have a lot of places to go. wewere just penetrating. just starting to penetrate some of those things. military was down. oil and gas was down but mining was up. general industry was up. heavy truck was up. >> are there more car dealers. >> no, no. no change in car dealers or technicians.
changes in vehicles. people ask us, there are a lot of new cars out there. they will sell a lot of new cars. >> 18.5. >> the vehicle park in usa has aged every year since 1980. peoplelasked me a great question today. they said, you know, we have head winds. >> i know. i talked about it, yes. >> they said our o.i. margin was up 130 b bis points. they asked me, are you cutting? have you cut back? no. we are investing more because we believe in the runways for growth in this kind of thing, new product and in extending to other industries. we have faith that's going to lead us to bigger and better. >> it has continually. one of the greatest stories we have had on. i wish more people knew about snap-on. we are not going to stop because you're not stopping. nick pinchuk of snap-on, one of the greatest stocks on "mad
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the new ceo o me in seven months ago and decided to fix the fundamentals. took out the difficult menu and long lines that hurt at the drive through. he moved menu items that gummed up the works and emphasized mcdodold's was going back k good tasting consistent convenient food. he did what many thought would be impossible. he got the buy in of franchisees who run the day to day stores and explained he wanted quick change. he wasn't going to fall back on something like, hey, you knono we've big. it will take forever to fix. that was the mantra. failed initiatives in the past. instead he tested new menu items cluding more chicken one month . he got feedback from the franchisees and millions of customers and rolled out everything nationally this month. it might have been difficult for
fast. you have to be amazed atathe local test to nationalle distribution speed. it was lightning. once the franchisees caught the excitement they added new workers rs cleaned up, put more money in. easterbrook knows food retailing is a psychological game. you start to see better results, the people who run the store are en er r zzed, pick up the papa to the point where 98% of owners bought into these changes. that's a phenomenal turn for an organization that is supposed to be disspirited with angry franchisees who lost faith in the headquarters like we read . there are no champagne corks yet in illinois. he's just getting started. he's rolling out all day breakfast and introducing new technology like the computerized self-ordering kiosk in australia where you park, and the food is brought to your car eliminating drive-thru lines.
there is a hand held app. it's going to get better. the focus is on the u.s. which hassle real growth and that's a big deal. over looked in the stories i read and the conference call was the shocking comeback in china whersame store sales rose 28.6%. bringing them back to where they were two years ago before bad pub lisly knocked them down. it's just the beginning of a major turn as the chinese are flocking back to mcdonald's though they are staying away from kfc and taco bell for now. i need to do more workrkn yum. it could be a turn around. i have been a fan of easterbrook since he came in. he knew things were broken add he had to get it right fast as he had done for the company's european division. he knew simplification was the key to f fing the fundamentals. he's got that in place. now it's to the actual improvement of everything about the experience and, yes, as he
again. as it was when my kids were little, we didn't go anywhere else. let me give you the e ttom line. count me as a believer in the turn. i think we'll look back and marvel at how this was just the beginning of the comeback and paying $110 at close today won't be a mistake. easterbrook is the real deal which means mcdonald's is back and gueseswhat, it might be bigger than ever. gary in indiana. gary. >> caller: what? >> you're up, gary. >> caller: it's already undone, i think. charlotte. >> hi? gary, you're up. >> caller: hello? yes! jim, i was wondering about shake shack. i heard somebody say yesterday that it was on y'all's program that it was 30% up. should i stay or should i go? >> there is a lot of stock coming to hit the e rket.
it's at 1.5 billion. it's#a little bit too big for me versus how few stores they own. long term i am a blaefr in shake shack. i don't discourage anyone from buying in the 40s. i didn't like it in the 90s but in the 40s it's okay. jay in arizona, please.. jay. >> caller: hi, jim. big boo-yah to you. >> thank you. back at you. >> caller: all right. my question is about gap inc. they have had a tough year this year. they are in the middle of a turn around. after r is disappointing september result there have been leadershipiphanges there. my question is do you think the oubles are behind them and this is a good time to buy or do you see headwends and you suggest holding off? >> it's down 30% which is a tough year. 3.3% yield. my problem is re tail turn arounds are almost impmpsible these days. there is no way gap can get out of apparel. i don't wanto be in that one. i see so many retailers.
it's back. this is just the beginning of a multi year move and i'm lovin' it. much more "mad money" ahead. one of the biggest semi conductor players in the game. it's been in the house of pain. is this the time to move? don't miss my exclusive with the ceo of cypress semi. that stock is cheap. and are the utilities worth holding? it's an exciting day but diversification is key. i will gauge the industry with the ceo of american electric pou. your calls rapid fire in a brand new edition of the lightning round. stick with cramer. it's time to dance freely thanks to new pampers cruisers the first and only diaper that helps distribute wetness evenly into three extra absorb channels.
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what's&happening with cypress semi conductors. they make chips in touch screens, systems on a chip. along with controller chips for machines and devices and s stic random access memory chips or s rams. from september to march the stock wore higher thanks to the expansion. the stock has been taking it to the wood shed getting stuck. now the group seemed to come back to the wall street fashion show including cypress semi which moved higher.
lower than expected re new declined for the previous quarter. a lot of mixed stuff. the guidance was below what wall street was looking for but the stock went h hher. we are seeing been down stocks rally after reporting not so hot numbers that fit the bill because people realized the future might be better than the past. the real positive here is cypress semi's buy back. $450 million. it's been a shareholder friendly company. 204% yield. new buyback equiuilent to 15% of cypress's market cap. it's huge. let's check with the founder, president and ceo. find out where the company is headed. t.j., welcome back to the show. >> hi. >> let's get to it. on your conference call you guys are talkinabout we think -- he's bn on the board for years. just wants to take out stock, take back stock, buy back stock,
make money by buying back stock. i have never heard anyone say this kind of buy back isn't a stand there buy back. you intend to tata in every share because you think the stocis dramatically under valued. >> absolutely right. as you know we are in the middle of merger mania in silicon valley. as such we run scenarios on this possible scenario merger often. whatatas really interesting is the last few times we had them run this scenario we had them run a scenario for buying back cypress. turns out we could make more money doing that than a lot of other things we were looking at. we thought, why not put our money number one? and the board voted unanimously and we are going to o do that. >> you are borrowing money to do that, maybe doing derivative things. these are things you do when you think the company is vastly mispriced. >> it is. the stock shot up to 16. i think it was euphoria.
the merger. i have no idea. if i look at the price to sales ratios we are below the tenth percentile. we are grossly under valued. i know the stock will go back up because of the fundamentals i am aware of are fine. right now we are good thing to buy, invest in. we are putti our money where our mouth is. >> since 2008 you have returned more than 4.2 billionle to shareholders. what are people not seeing about the capital you generate as shareholders? >> i donon know. you know, part of it is i come from a football state, wisconsin. i played football myself. i'm of the school instead of mouthing off in the middle of the game i point at the score board and talk about what we are doing. i guess in this world of instant p.r. and social media we are not getting the utory out well
enough. i will work on making it better so people understand better what we are doing. >> i think the people -- you don't use the lingo. you seem to resist saying you are at the heart of the internet of things. is that too nouveau for you talking about industrial and automotive applications? >> no. what's interesting is not only something we work on, something i work on personally. i had a project where i gave a few million to u.c. davis, a premier wine school in the world. i used cypressechnology to connect 150 fermenters that i made for them and donated to them. 150 fermenters to the internet. e of the things, 15252hings i hooked township the internet is experimental fermenter. i'm personally involved in the understanding this. we are in the middle of that and
in the world to do it. like i said, i don't w wt to brag but i donon think we are telling our story well enough. >> one of the stories that's terrific is the combination of the synergies and the fact that you are giving bounty. if a salesperson sells cypress back and forth you reward that person. how is that going? >> we have a contest and there is a b bnty for the winner of the contest where if a salesperson sells a cypress chip they get recorded and we track them. some guys have sold a bunch of stuff we have in that part of the funnel. we separate that out so we can look at cross selling. we have $450 million in there in two quarters. we're smoke ing. >> last question. you talk about macro weakness and china weakness. we are seeing some sign that is there might be a pulse in china over the last six weeks. is that positive given the fact
>> we are not seeing china dominant. when we went down five points quarter on quarter and of course the minute i see revenue going down i'm paranoid, asking the questions. we have an exceptional database, a great ability to analyze data. i analyzed by area, by product, product line, by geography, individual salesperson. looking for where the problem was. i came up with a lot of small red numbers everywhere. a few percentage points and the market is just slowing down. not dramatically. nobody will lose money or anything. i'm seeing a slower market across the board everywhere, not just china. >> i know you have applications, flexibility with a founder you can put in some of the old stuff into a newfoundry expansion. i think it will come together. i haven't heard you this bullish ever. thank you very much for coming on "mad money." >> thank you. >> they're borrowing money to
t.j. rogers of cypress semi, cy. when you have that buyback the stock will move after you buy it, believe me. "mad money" is back after the break.uce... most ribs eaten while calf roping... yep, greatness deserves recognition. you got any trophies, cowboy? whoomp there it is uh, yeah... well, uh, well there's this one. best insurance mobile app? yeah, two years in a row. well i'll be... does that thing just follow you around? like a little puppy! the award-winning geico app. download it today. well, things in the bedroom have always been pretty good. yeah, no complaints. we've always had a lot of fun, but i wanted to try something new. and i'm into that. so we're using k-y love. it's a pleasure gel that magnifies both of our sensations. right, i mean, for both of us, just... yeah, it just takes all those awesome feelings you usually
market. wait a few days. the stock is going lower, not higher. they want the industrials and tech now. melissa in missouri. >> caller: hi, jim. thanks for taking my call. long time viewer. big kansas city royals boo-yah. my stock is waste management. >> not one but two upgrades in the last two days. we believele in it. the stock is cheap. goes to 60. ralph in virginia. go ahead. >> caller: yes. hey, jim. b-b-b-boo-yah. >> nice stuttering boo-yah. what's going on? >> caller: i picked up some d-d-dupont at 48. i'm at 21%, thinking of adding to my position. >> nelson peltz is there pushing for change. the stock was hammered after he didn't get on the board. i like dupont but at 59 it is not as good as dow. darwin in texas.
texas. oil looks like it's found a deevent bottom. would you touch energy? >> too early. we have to stick with it. exxon had a major break out today. stick with the major oils. right now the action is in the big cap companies chevron, exxon, that kind of thing. eric in delaware. >> caller: hi, jim. eric from delaware. my stock -- and thanks for taking my call. >> of course. >> caller: my stock is century link. >> you will be reaching for a yield. gives you 7%. i will bless it from 27, 28 to 31 and sell. do you know what's a better buy? att with a spectacular upside surprise and a good yield. congratulations. barry in illinois. barry. go ahead. go ahead, barry. dave in connecticut, dave. >> caller: yo, mr. cramer. how you doing? >> i like this google and amazon
action. >> caller: i'm calling about nao. is it a buy sell or hold after yesterday? >> i have to tell you, i haven't looked at the acquisition. i have to come back on it. lla in california. bella. >> caller: jim -- >> bella? rebecca? >> caller: hello there. >> hi. >> caller: listen i'm a new investor, cramer. let me first say you are the best teacher ever. thank you. >> thank you. >> c cler: here's my queststn . i bought novacure. i wonder if i should buy more or cut my baby teeth. >> we thought it was an under valued situation. it almost doubled and has come back. i need you to wait. i need to see the biotechs and high medical valuation stocks finish selling before i will pound the table again.
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competition. since then the utilities have come back. i have to wonder if utilities can sustain the move. take american n ectric power. they own the largest power transmission network in the country. one with a huge power generation portfolio. serves 11 states, 5 million customers. the stock has been on a roller coaster for a few months and turned back to where it was trading before the big sell-off in august and september. it's got a 3.6% yield. aep reported that ththgh they beat wall street's topopnd bottom line, even though management boosted the guidance, markets seemed to ignore good news. investors find it hard to get utility when hearing about the better and makes the cyclical stocks seem momo attractive. givevethe nature of the missouri -- moves i would not be surprised if they circle back in the not too distant future. when they do they will go to aep.
the chairman and ce o of american electric power here with the company's prospects. welcome back to "mad money." >> good to be with youou >> i'm seeing good growth in all your states including, by the way, texas where you're got shale regions that i would have expected would be cutting back. what's going on? >> yeah. we are seeing electric load pick up because of shale gas activity. those counties are growing at 1010because the electric load contntues to grow with nototnly drilling activity that's slowed down but still trying to get more recovery associated with it. also compressor load being able to optimize the field. so it's working out great for us. >> one thing i talkekeabout when speaking with h nagement for dow chemicic today is they are talking about something like 400 new plants that would be in the region. are you thinking these are going to happen? >> i think clearly we have to have an energy renaissance that
if there is exports and those things that drive that kind of economy, we'll continue to see petroleum and other activities pick up as well from a chemical manufacturing standpoint. those are doing well. we are still seeing siding of new facilities. so really if we wind up -- continue with a low cost and be able to export, for example, we'll see an energy renaissance and a manufacturing renaissance to boot. >> what's driving the strength in ohio which looks good? >> yeah. ohio is really the juncture where the economy continues to grow, particularly in our territory. central ohio, columbus, job creation has been positive. as a matter of fact, our grant which is a columbus area and the adjacent states have grown actually more than the western properties in the south central part of the u.s. so for the first time in a long time. that's really driven by the jobs and the new economy with not
also more leisure, auto manufactcting, those types of expansions continue to occur. >> you are where people aren't worried about job growth. it's happening. you took out nearly 6,600 mega watts of coal firing capacity between last year and this year because of environmental regulations. were those plants rerey to rerere or just because washingtononays they must be? >> it was actually because we had to retire them. when you look at the analysis of whether you build, invest another billion in a scrubber for example which takes out sulfur dioxides. we had to make the measurement of, okay, whwh natural gas prices look like and if you are reququed to take units off line you can't make the investments so you retire that generation. it's an opportunity for us because we can also continue to build other facilities and obviously drive that kind of
rationally and you make the transition t tt makes sense, then you are able to reinvest and focus on new resources of the future. >> last time i was listening to a conference call of kindermorgan, rich kinder, the stock took a hit today. they were saying companies like you need more natural gas pipe to get to where you are going to be building natural gas plants. is the infrararucture there or does it have to bebeuilt out? >> i think the infrastructure needs to get built out. as we make a transition from coal fired facilities being retired the fuel of choice will be natural gas and renewables in place like wind, solar and those things. natural gas, if you drive that and depend upon it, particularly in the summer, the heat of the summer or the cold of the winter you're got to make sure the resources are there and natural gainfrastructure, particularly pipeline infrastructure needs to be present. >> now the move against fossil fuels is happening with electric speed. we have a new prime minister in
canada. definitete against fossil fuelel hillary clinton so againstst fossil fuels, not even getting republican push-back. can yoexplain to people you cannot use solar and wind as a baseline fuel in this country? >> they are intermittent supplies. when the sun is out you get power and energy, when it's dark you don't. when the wind is blowing you get energy. when it's not blowing you u n't. that's what you have to to have a 24-7 fossil fuel base load capacity to back it up. the customer decides when to turn on the light switch, run a washer, dryer and so forth. you've got to make sure you are able to satisfy the demand and also be able to sasasfy those area where is you need motor load like air conditioning and that kind of thing. solar and wind won't supply that. >> you keep telling people that. you may love wind and solar like i do, but we need base load fuels in order to be sure the lights go on.
nick akins of american electric power, great quarter. good to see e u. >> thank you. >> i have been sticking by ae p i like because of consistency ti aep is good but the market likes exciting things. i like to get consistent yield. stay with cramer. unlike ordinary diapers, pampers has three absorbent layers to stay up to three times drier. so your baby can s sep soundly all ninit. wishing you love, sleep and play. pampers hey buddy, let's get these dayquil liquid gels and go. but these liquid gels are new. mucinex fast max. it's the same difference.
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it's frooudiday, october 23rd, breaking news. and after a highly pololical back and forth, did the benghazi committee learn anything new? and with texas breaking for an absolute deluge on the pacific size, preparing for hurricane patricia. and new details surrounding a u.s. led rescue mission in which an american soldier was killed by isis militants. and the suspect in the road rage killing of a 4-year-old girl faces a judge. that and so much more on a busy friday. "early today" starts right now. we have breaking news to tell you about. shots fired at a college campus. this time at tennessee state university in nashville. it happened in an out door court yard prompted by a dispute over a dice game. one killed, two others hospitalized.