Transcripts For CNBC Mad Money 20240622

Dow closing up 6 points. S p declining 4. 6 . The markets favorites return to glory after a very Difficult Run although i should add that they were substantially higher until a late day sell off knocked them off much higher pedestals. Its been a welcomed fight. The markets taking it right on the chin. Today though they got off the canvas and they came back hitting. Lets take down the names. First theres the come back of the cult stocks, netflix, amazon and tesla. These stocks shouldnt matter in the long run. Theyre not leaders. Theyre solo disruptors of big time establishments that caught the fancy of individual investors like many of the people that watch mad money and that makes it crucial to the markets psyche. There was no news from netflix. It just resumed its climb to the 100 million market it can get to. Nearly twice the current market cap because it represents worldwide entertainment. Amazon is going higher up 3. 75 today because some of the bricks and mortors are down his bli on a miserable quarter. Whats bad for bricks and mortar is good for web based retailers. Wayfair up another 6 today on top of its 10 gain yesterday following an amazing quarter. Only this dicotomy. I know it as a winner. Bricks and mortar is knocked up. But its a total outlier for the moment. As for tesla not a lot of stocks go up when they announce a secondary offering. Its 4. 44 jump up today after that news. After reporting a quarter in week one tesla said they need to make money. Musk circled he wanted 20 million worth on the secondary. Theres a man that knows how to run a stock. The next one back, this one has been written off not once but twice. First by bank of america that cut it from buy to hold last week because it was slow in sales. It bounced back in chinas devaluations. Lower lows and lower highs but it was able to stay in the green for most of the session before sell off and a few minutes before the bell. Contrary to what was said in many press reports apple does hedge its exposure and while china might be stalling, its minimal. All techs been weak. Until today it jumped 80 krence on the quarter it reported last night. This was the first Conference Call under the leadership of the new ceo chuck robins and he came out hot with results that beat expectations on the top and bottom line. The guidance was excellent and cisco, i thought it did for most of the day, to get some other tech started. That a major improvement for what has been a downturn for all tech. Disney got pancaked a week ago and then managed to put on a meager rally when the big sellers vanished. Like apple disney got swatted down below last weeks low and clawed its way back today. Its part of mediagedon. Thats the recognition by many big Portfolio Managers that the days of cable tv are over curtesy of cord cutting and streaming. Disney rebounded today and it mattered. You could craft a new thesis. Oil is going down. Lower oil, lower gasoline, better theme parks. Not one, not two, but three bull markets resurfaced in todays session. Auto parts, housing and fitness wear. These are cycles that are must buys at any geopolitical related weakness this week. I pounded on you last weeks game plan reported that monster good quarter i have been looking for. Sent the shares up 16 points to the all time high. Total and relentless cramer fav autozone bolted on that news also hitting an all time high. Its one of the longest lasting because it has to do with all cars lasting longer as people put off buying new ones. Things are all about the increase in value of your home. Something helped by scarcity value and rents becoming ever more unaffordable. When homes go up in value homeowners start to view spending money on their houses as an investment rather than a lost cause so they go to home depot and lowes to fix them up. The stocks of the other companies in the business, like the ones that are in the aisle at these stores they all went bonker on whirlpool. Sherwinwilliams, they all did well. Three terrific Home Builders broke out to the upside. This is another group you need to buy in a sell off because the chinese devaluations has no ill pact on a domestic home builder. Fitness wear is out of control. Lately theres been doubters. Doubters have been all over underarmor but theres nothing to doubt now as the stock is up more than a buck and a half. Apple has been hurt by chinese weakness but the 200 sneakers nike makes i have been thinking about this. The chairman wouldnt be thrilled about letting 100 air jordans bloom but the stock has a life of its own plus sketchers is coming back and i spy a rally in lululemoned and then theres the retailers that stick up whenever the selling pressure ends because they lack competition. Stocks like ulta salon. The Beauty Supply company with some of the best same store sales in all of retail. The obscure but not because of me because i love mine. Tractor supply, tried and true rebounder and of course starbucks. Well talk to them later in the show. They worked their way higher. Something we have come to expect when the buyers emerge. Now there were some noticeable disappointments. Rarely have i ever seen a negative crowd be more right than it is now on oil which cannot catch a break. I have told you it has gone below 40. I reiterate that. They gave up much of yesterdays gain. And the airlines didnt move as much as they should, right because of costs of jet fuel is going down in price. But the bottom line is that many of the stocks that the bulls need to rally, along with a few more we didnt count on causing people to wonder if yesterdays rebound is something that might last. I did not like the close at all. Without oil going higher, remember thats what the market needs and the dollar going lower, boy does the market need that, there may not be a lot of staying power. However many stocks seem pretty washed out and they just need a weak dollar catalyst to take them higher from here. David in california, david. Hi, jim. Happy booyah from your friends in florida. I got a lot down there. Tell them i said hi. Caller will do. I was wondering what your shortterm view of gopro is. Buy, sell, or hold and what effect do you think the devaluations of the chinese yuan will have on future revenue growth. I was looking at the 16 gopros being put on peoples heads in order to be able to do like 360. I think its okay but i prefer it to gopro. It is saying it has a good ecosystem going. John in ohio. Caller dpregreetings, dr. Cramer. Whats happening . Caller thank you for taking my call and im retired and calling from lake eerie. They have good walleye. Caller yeah, jolly roster. Best in the long run. Calling about marathon oil mro. My nephew is 5 years old and i bought it in the 25 to 30 range. Last year it hit a high of 41. Is there a chance of m a railroad rebound. I talk about the winners my Charitable Trust says this has been a gigantic loser. Id like them to come on air. They lost money this quarter and did not instill a lot of faith in the marketplace and in me in particular. Im nervous about marathon. Play with an open hand. Wish it were better. Marathon and twitter, two that frankly were mistakes. Ann in illinois, ann. Caller hi, jim, having a good day . Am i having a good day . Its an okay day. How about you . Caller im having a great day. Im going to the bears opening Football Game tonight. You are. Wow. Caller yeah. Sounds like fun. Well, i was at Training Camp last friday and i have to tell you they look good. Id like the birds to face the bears in a championship game. Whats up. Caller okay. My question for you is on caterpillar which was one of my late fathers favorite stocks and of course as we know its taken a beating lately with the oil prices and chinas situation. So my question is does it look like a good time for a longterm investor to buy it . And if so, around what price . Im glad you used the term longterm because i see no shortterm pop in the stock. It does yield 4 . It can go down another 2 or 3 points. Its in china and its in the wrong part of china. The part thats really slowing but if you had to start a longterm position in caterpillar i could see a 4 yield. That makes some sense. The winners battle back along with others we didnt count on but can the rebound last . Stranger things have happened. Boy that close was nasty. On mad money tonight its a Company Behind the most successful games in history. Ive got the ceo that took grand theft auto. But as a starbucks ceo, ill address the president ial speculation in my exclusive with Howard Schultz. Plus its up 75 this year on hightech tools were diabetes and now its working with google on a Game Changing product. Ill get the scoop from dxcom ceo. Big names battling back. Whatever moves the market makes, cramer is on the case. His final take before tomorrows trade, coming up on last minute mad. Dont miss a second of mad money follow jim cramer on twitter. Have a question . Tweet cramer, madtweets. Send hill an email at madmoney cnbc. Com or give us a call at 1800743cnbc. Miss something . Head to madmoney. Cnbc. Com. At ally bank no branches equals great rates. Its a fact. Kind of like shopping hungry equals overshopping. When you do business everywhere, the challenges of keeping everyone working together can quickly become the only thing you think about. 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The traditional media stocks have been absolutely obliterated in this market but i remain a big fan of nontraditional media including video games. Heres the company that created grand theft auto. With red dead, max payne, civilization and evolve along with mlb 2k. They have enough property to put up good numbers from its category shows me even when theres no new big game this company has a much higher level of profitability in the old take two. Take two is up 39 . Its given us a quick 9 gain since we spoke to the ceo in may but if you believe in the companys product lineup, you could have a buying opportunity here for the stock down more than 2 points from its highs. Dont take it from me. The chairman and ceo of take 2 interactive and hear more about ha whats next for his company. I have to tell you, this quarter showed me that structurally you have higher margins than we ever thought. Certainly when i met you i didnt think that the company, if it didnt have a big gta release could do these kind of numbers. Its changed. It has changed. We can project profitability on a Going Forward basis year in and year out. We also have 1. 2 billion in cash in the books. But i want to talk about this nba thing because we can talk a lot about grand theft and you said dont ever put any game in the same sentence as game theft so i apologize for this. This nba 2k has a fabulous following. Its getting more following each year. It is. Its been growing steadily and nba also offers an opportunity to stay engaged online and its been a big part of our story. Current customer spending is 25 of our net revenue this past quarter. China is going crazy for basketball. Stephen curry is going to be on the cover of nba 2k for one of them. Hes in china with underarmor. They love him. The chinese love nba 2k dont they . They do. Its the number one online pc sports title in china with 27 million registered users. I know that theyre going to ban on video game consoles but this game is already in china. Theres a change. The business in china has been a free to play business. An Online Business. Consoles entering the market is potentially a very good thing for us. We have a massive middle class bigger than our entire pop yulo in the united states. You never overpromise and never underdeliver. The Monthly Average users, grand theft auto, higher than almost anything other than facebook. 40 growth year over year. For what . And this is a game that we initially launched very nearly two years ago . What has that . What has that staying power . Im trying to think of the analog. Its pretty unusual. Again, we try not to take too much credit for our success because were mostly focused on delighting consumers but we think thats a good statistic that tells you that consumers are staying engaged and the numbers reflect that as well. Now theres a game sometimes i have to put on my younger hat or different cultural hat. You talked about mafia 3. I dit know why anyone would want this. You can build your own crime empire in a fictional new orleans circa 1968. Why would i want to build my own crime empire in a fictional new world in 1968. Sounds like people want that. Everyone wts that. How . I think the notion of antiheros dominates the video game business and im not sure why thats the case but it is the case. Now theres two different sides in that. You have a vietnam vet comes back and hes up against a mafia family. Yes he is. And people like that too. I think people are going to love it but as you know we always wait to see how it turns out. We think its going to be great. It looks beautiful. I was going to ask you. Its attracts a person to a video game. Thats rit. Because theres a story element but then you have your own ability to create your own experience thats different than any other Major Entertainment media. One of the things that i thought was important for your situation is that when i think about grand theft auto and i think about the way the analysts used to look at your stock it used to be not until another grand theft auto would we ever want to touch that stock. Thats definitely changed. The whole notion of a catalyst has changed and everyone sees us now as a leader Interactive Entertainment company where were number three in the marketplace and we have the best property in the business and best tales in the business. We own the bulk of our intellectual property. That creates an opportunity to deliver an experience for consumers and the associated revenues and profits on a regular bae sis. You got the best Balance Sheet in the industry too which will matter. Its strategic. Take two interactives. Thats how people make really big money. Coming up, a leader for the common good. Starbucks Ceo Howard Schultz is taking matters into his own hands but could a president ial run be in the picture. Donald trump, you could get as much publicity with the democrat debate as he is with the republican. Its working for him. Why couldnt it work for you . Qo e d8j8j8j we know Howard Schultz is the founder and ceo of starbucks but hes not only a executive but great philanthropist. They helped launch a massive jobs fair in chicago. Its part of the hundred thousand Opportunities Coalition which aims to create 100,000 jobs, internships and apprenticeships for disconnected young people over the next ten years including 10,000 positions at starbucks alone. Earlier today i got a chance to chat with howard. Take a look. Howard, good to see you as always. Thanks. How are you today . Im doing well. This is a coalition youre putting together. Its a coalition some republican and some democrat and companies that are mortal enemies. Target versus walmart for heavens sake. Walgreens versus cvs. How are you able to get them in the same room and get something done. I thank you for the opportunity to talk about this today. I wish we were in the hall behind me and you can see the thousands of young people who are here today with smiles on their face given the opportunity that they dont view as an entitlement but a privilege to work for a company. Now what we tried to do is convene likeminded companies, likeminded leaders to come together, bury the hatch chet of competition and recognize that theres 5. 6 million disconnected youth in the country, not in school, not working. Many of whom are African American and latino and lets try to do something that perhaps, if we came together as a coalition, 30 Great Companies, we work with the local nonprofits. We get the support and leadership of mayor emanuel has been fantastic. We could hire 100,000 people. What this demonstrates more than anything else is this a time in america where the private sector must step up and i think im so proud of the people that i called. No one turned me down and as you said, there are competitors in the room. Theyre talking about one another today. Not about their business but about these kids. Were not here to talk about earnings. Were not here to talk about our products. Were here to talk about the opportunity that we can create for these young people who unfortunately are living at a time when the promise of america and the American Dream doesnt mean as much to them as it did for our generation and weve got to change that. And this is the beginning today. Well, howard, have to tell you, people of our generation, we were used to when we were growing up seeing the federal government do this. Its interesting you mention a mayor, a local mayor. This is the kind of initiative that a robert f. Kennedy would have brought up. There would have been a sense that the federal government has to get corporations involved. Not the opposite. Whats happened in our country that its the ceos have to do this. The rules of engagement has changed. Whats going on in that room behind me with these thousands of kids and these companies is an example of Servant Leadership. And whether youre republican or democrat theres a void in this country with regard to Servant Leadership and businesses have to demonstrate and were emotions b emblematic of that. Not everything is for profit. Culturally theyll be better for it. Theyre going to hire great young people and at starbucks not only are we going to hire great young people today who may not have an opportunity but because of the College Achievement plan we have indebted in our company its a pathway for free four year college education. Im not here to criticize the government but i am here to say it is a time in america where businesses and Business Leaders must recognize that we must do more for our country, for our society, the communities we serve, and in this case 5. 6 million disconnected youth who unfortunately, theres a feeling of hopelessness but theres such a desire to see what we need is help. This is not charity. In many ways this is justice. Howard, let me ask you, you use the term middle. You talk about the idea of middle jobs. When i speak with the labor secretary he doesnt want to talk about middle skill jobs. He wants to talk about high skill. Trying to put these people through college sometimes. The gop, they dont want federal money in helping business. Why are both parties failing this particular group who no one wants to seem to help middle schooled people that arent going to go to the best colleges in the world but that can have jobs at starbucks and go to college and have dignity. Whats the matter with that . Jim, youre right. Its ironic in many ways that were hosting this event very close to the anniversary of ferguson and if you think about the Cultural Divide and the racial divide in the country, is that many of these young people are African American and latino and have no job and are not in school and do not have a voice. The responsibility of the gov n government. It goes pack to what i said earlier when we grew up the promise of america and the American Dream was aspirational. It was real and we saw oufrselvs in it. You mentioned rfk and he was an example of that. At this time in america, 5. 6 million disconnected youth do not see themselves in the American Dream. And we have to reverse that and i think it is unfortunate youre raising points that bring me back to an excellent op ed you wrote. Howard schultz america deserves a servant leader. You say politicians are too angry with each other. You are a person that is a uniter. Would you not have more success running for president talking about starting somewhere, 100,000 opportunities and couldnt you counter the donald trump . You could get as much publicity with a democrat debate as hes getting with republican. Its working for him. Why couldnt it work for you . Well, jim, im not here to talk about politics specifically. I really feel and i think today is a demonstration of that. I could do much more with regard to the platform i have at starbucks to make these things happen than i could if i was a classic politician. I look at the environment and i feel its not for me. Im a business person first and foremost that has the kind of company that has balanced profit with a social conscious and thats what i want to continue to do but i also want to work with local government officials around the country and this is the beginning of something starting in chicago were taking around the country. My Family Foundation made a significant contribution to these kids and i could do more as a private citizen. It was really a calling and hopefully a recognition that the dysfunction in the polarization in washington has got to stop. That were running out of time. And its a time in the country where we need leadership at every sector of our society. Private and public and this is one good example where were working there, working with wrap around local services and 30 extraordinary companies, many of whom are competitors coming together for one purpose and that is help these kids that otherwise couldnt help themselves. Do have to go back. I see trump playing a role. Gets all the air time he wants. Why couldnt you be the trump for the other party . Jim, im not here to talk about Howard Schultz running for president. Thats not what im going to do. Im here starbucks. Most importantly the 300,000 people relying on me as a leader to enhance. I never thought a ceo could make a bigger role in changing the country than someone running for president but its clear you are. Good to see you, sir. Thank you. Mad money is back after the break. Coming up, despite all the market madness, heavy materials supplier has proven to be a strong product. Cement his status as an industry leader. Cramers got the exclusive, next. Can it make a dentist appointment when my teeth are ready . Can it tell the doctor how long you have to wear this thing . Can it tell the Flight Attendant to please not wake me this time . The answer is yes, it can. So, the question your customers are really asking is, can your business deliver . About what happens when you turn sixtyfive. But, really, its what you do before that counts. See, medicare doesnt cover everything. Only about eighty percent of part b medical costs. The rest is on you. [ male announcer ] consider an aarp Medicare Supplement Insurance Plan insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement Insurance Plans, it could really save you in outofpocket medical costs. So, call now and request this free decision guide. Discover how an aarp Medicare Supplement plan could go long™ for you. Do you want to choose your doctors . Avoid networks . What about referrals . [ male announcer ] all plans like these let you visit any doctor or hospital that accepts medicare patients, with no networks and virtually no referrals needed. So, call now, request your free guide, and explore the range of aarp Medicare Supplement plans. Sixtyfive may get all the attention, but now is a good time to start thinking about how you want things to be. [ male announcer ] go long™. Getting diagnosed with type 1 diabetes was one of the most frightening moments in my life. I started to see a change physically. 20 pounds in two weeks. The doctor did a lot of tests and said my blood glucose was through the roof. It is a small sensor that i insert just below the skin on my stomach. It gives me readings every five minutes, 24 hours a day. I can even get my numbers on a cell phone or a smart watch, whatever i want. What does singer nick jonas have to do with stocks . Hes one of the 1. 5 million americans that suffer from type 1 diabetes. A disease that requires patients to constantly monitor their glucose levels. Jonas does that with the help of dexcom. A company with a powerful secular growth story that just hit another brand new high today. It makes the most popular Glucose Monitoring Southern Land for people that suffer from type 1 diabetes. They built the better mouse trap. It comes to checking your blood sugar levels rather than pricking your finger with a needle every hour or something that gives you a snapshot periodically. You need to stick the sensor on your skin and it will transfer your day to a wide receiver. Their device is the most popular and the company is always trying to you improve its technology. They have apps to help diabetes keep track of their blood sugar levels and this week dexcom announced a deal with google Life Sciences. Thats the Life Sciences team thats part of the new alphabet to develop a new generation of smaller systems. Last week they reported a terrific quarter where they beat wall streets revenue estimates substantially. Company inching closer to profitability. They just want to spend all the money to make the better mouse trap each time. Thats what keeps dexcom ahead of the pack. Now theyre giving us a quick 58 gain. Heres the former ceo. Hes the current chairman in february. Stocks are 630 since we first started recommending it as a little medical device play. March of 2011. But i think you have more room to run. Lets check in with the new president and ceo of dexcom. Welcome to mad money. Thank you. Good to see you. Good to see you. Its been a great run and terry put us on to it because basically you do have a device thats much better than everybody elses. Its fabulous. Were the world class leader in this technology. No question about it. We saw mr. Jonas do that video and youre really talking about if he didnt have it, he would not even be he might not be able to live. Theres incidents where people just got their reading wrong. Theres instances particularly at nighttime for people with type one diabetes. Theyre asleep. They dont know what thier blood sugar is doing. It can alarm and alert patients and wake them up and say its time to do something. With our new share system that data can be shared with your caregivers as well and since we launched that mobile platform we received numerous stories from our patients. You saved my life again. Its been wonderful. And for kids you can have it monitored on their apple watch. Let me show you, i am following a patient here on my apple watch. A remote patient. Remote patient. Somewhere not here. Not named but this is someone elses glucose right here on my watch. In our lifetime this happ happened. This is incredible. What nick jonas was talking about, our patients can follow themselves on the watch with our new software. If youre sitting in a business meeting and want to see what your glucose values are, this is a lot less conspicuous than sticking your finger. You have taken big market share away from medtroinc but we saw the split up in google. The First Partnership is with your company and this is for a much bigger market, right . It is for a much bigger market and its also expand the market were currently in. You know having terry is our chairman is a good thing. Were trying to look forward. And take this technology and apply it to more people. If we can lower the cost and the profile of our technology to where people can use it intermittently that have type 2 diabetes and taking other come pounds. Type 2 being the one that millions and millions of people have. But we learn i probably shouldnt eat pasta with white sauce frequently because that sends me through the roof. Well, we can evaluate the effect of these compounds if we can get our technology right. So google were going to make small, small Wearable Electronics which is what we have licensed from them. Work on data analytic platforms because once they have a steady stream of data we can learn a lot and enrich these patients lives and well continue to make our World Class Center technology and stay on our course. Google could have partnered with anybody in the world. They wanted to partner with you. We believe so. Yes. Obviously. We signed the deal. The cost of the new miniaturized. Were talking about a disposable device. These would be affordable for everybody. Thats our goal is to make this affordable for millions. Well, this is the kind of thing that were talking about. Very space age. Its here right now right on your watch. Monitor your life. Thats kevin sayer. President and ceo of dexcom. Mad money is back after the break. It is time, it is time for the lightning round. This sound and then the lightning round is over. Are you ready . Time for the lightning round. Tim in new jersey, tim. Caller booyah, whats up jim . Been a fan since i was 13. Six years later, 19. Young investor. Nbgs. No, rbm. The world is being flooded with ships that will compete with them. You do not want to be in that stock. The ships come on second half of this year. Mark in connecticut. Caller booyah too you. Big fan of the chicken enchiladas. Striker, syk. Striker i like. I like that bio mechanic business. Its good. Thats a winner. Lets go to richard in california. Caller short and sweet. Via systems . I decided it was a battle for too long. Sales force reports next week. How about vince in new jersey. Caller hows it going . Real good. How about you . Caller im fine, sir. My question is about pmc stock. I own some of it and do you think theyll split . I think its fine. I dont know why it hasnt split already. But thats not why we own the stock. The Interest Rate versus to go higher and right now theyre not in your favor. Tony in california. Caller yes i was wondering is it a sell or a hold . Sell, sell, sell. Oh, man, my hand is stuck. I dont know what to do. Thats how i feel about it. Lets go to tim in colorado. Tim. Caller hello. How are you doing jim . Doing well. How about you, tim . Caller not too bad. Im calling about rrd. Lets just buy it. It came all the way back after that amazing restructuring. Tom is doing the right thing. Buy that stock. Giving you three differ companies. Theyre worth a lot. Don in wisconsin. Caller i want your opinion on karyopharm therapeutics. No, they have a problem with a trial. Theres a lot more to say about that and i have a lot to say about it. Charlie in texas. Caller booyah, how are you my friend . Im doing well. How are you . Caller im good. Xaon. We thought it was a little too hot too soon. Its being cut by 2thirds and were not that intrigued by it. Lets go to richard in tennessee. Richard. Caller yes, jim. First time caller and long time listener. All right. Caller whats your impression on enbridge. Im going to go to kmi. This group is still in free fall mode so i am not pushing any of these stocks. And that, ladies and gentlemen, is the conclusion of the lightning round. The lightning round is sponsored by td ameritrade. Like a custom screener on your desktop, that updates to all your devices. And you can share it with one click. Wow. How do you find the time to do all this . Easy. We combined every birthday and holiday into one celebration. different holidays being shouted back to work, guys i love this times of year. For all the confidence you need. Td ameritrade. You got this. Aa chance to try somethinglook. Different. This summer, challenge your preconceptions and experience a cadillac for yourself. Take advantage of our summer offers. Get this low mileage lease on select ats models, in stock the longest, for around 269 per month. Even though we had a lot of turmoil in the market lately im glad the aggregates for all sorts of infrastructure and improvement products are at the all time high. Lots of exposure to the relatively blooming southeast and on fire texas market. Less than a point off the all time highs. A 21 return since we last spoke to the ceo in february. It delivered a good quarter last week thanks to strong infrastructure, housing and lets take a closer look at the chairman and ceo. Welcome back to mad money. Thank you. Good to see you. Have a seat. Thanks. Your Conference Call and documents are all filled with, i dont want to say euphoria but enthusiasm about whats happening. You have pricing and volume going. Im wondering if its because youre in great regions though. Thats a lot of it. Where you are matters a great deal in our business. I spoke about the fact that we now have a 1 or 2 position in 85 of our markets versus 65 last time. You said it in the opening comments, large exposure to the southwest and to the southeast and what were seeing right now is just southeastern come back and when we see a little bit of that in our business it makes a big difference. You should talk about that because an undercurrent is that some of the states are flush and the states mean a lot and some of the builders are flush. Talk about florida and texas because theyre great stores. They are. If you look at texas they have a 7. 5 billion program in texas this year. Just in texdot. Georgia has put another 900 million almost doubling what they were doing. Iowa came back and put in a ten cents a gallon increase. That raises that bidding by 30 . Were back to the notion of where you are matters very much. Were seeing states and this is the key piece of it. Theyre looking at something from the federal government that has not been consistent. Thats my point. You can talk about how theyre certain i dont know if youre republican or democrat but you have a republican governor and Republican Legislature those are really awarding a lot of money to construction. They are. In our home state of North Carolina is having a very good faith debate between the governor and legislature not on whether theyre going to spend more on infrastructure, but how much theyre going to spend. But you think that the federal government is going to come around and do infrastructure. For the first time in over a decade we have 1half of the congress thats come forward with a six year bill. So the senate has come forward with that. The thought is the house is going to come back. Theyre going to put their bill forward and well see a Conference Committee and theres a lot of people usually skeptical about this. Usually i am as well. This is a change. Well see by year end we might see a highway bill. That would be something because we have been waiting. Particularly it was interesting that we all know oil and gas prices have come down. The building for petro chemical refining is strong. It is. Were starting to see some of those go right now in texas. Up 33 billion. 18 bill of that in texas all by itself so it continues to be very strong in that market. And your a buyer of your own stock. Just a believer. We believer in ourselves and we put out the notion that were going to come back and buy 20 million shares of our stock back. But you dont have that many shares that would be a huge buy to get you back to where you were before the fantastic acquisition. Thats entirely correct but the fact is we feel like we can do a couple of things. We can buy shares back but were also going to continue to participate in this industry because we think we can find goodbyes over the next several years as well. Our best first dollar is doing the right acquisition. Sometimes thats doing more and sometimes its buying another company. I want people to know what happens in this lower oil and gas, diesel savings for you. Yeah. 2 i mean just a monumental figure. On an annual basis we use about 45 million gallons of diesel fuel. Its down considerably. Our quick math says probably well save about 29 million just in diesel. Thats how Great Companies work. These are the kinds of companies that i love. They have so much wind at their back. Thats the president and ceo of Martin Marietta materials. Its done great and will continue to do so. Stick with cramer. It took Serena Williams years to master the two handed backhand. But only one shot to master the chase mobile app. Technology designed for you. So you can easily master the way you bank. Start this school year off right with a little extra credit from at t. 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