Transcripts For CNBC Mad Money 20240622

Seat back seat rally where all the wrong stuff the minerals the oil complex, led the market beautifully . With the dow climbing 369 points, the biggest twoday gain since december, 2008. S p pole vaulting. Nasdaq rocketing 2. 5 . Arent we supposed to want to roll costs down and down and down some more . Not up huge as they were today . I know its tough to explain how oil is spiking, almost 10 the biggest oneday move in six years. It will be a positive. Today it was certainly hailed by investors as a big one. Lets go there, though. Because its what happened today and it was a very important day because it was a stress reliever. A stress reliever, for many of the biggest investors of capital all around the globe. Let me set the scene up for you. The proximate cause of the nasty selloff we traveled through the weakness in chosen, it was exacerbated into belief until yesterday that the fed seemed unaware and how frail the worlds economy had come. But yesterdays comments from new york fed president bull dudley that the feds going to be pragmatic about its actions, assessing whats happening around the globe, allowed for a second day of lift to occur. Plus in the last few day, we have been hearing some serious rumblings out of china, that have gun to make us think their government, after focusing mostly on trying to prop up its stockmarket, including penney stock, has finally goten serious about doing something much bigger and rigorous, that could truly jump start the chinese economy, which may be growing as slowly as were growing fast with the 3. 7 gdp number the u. S. Put up this morning. How do we know this . While china seems like its if trouble, so to speak. You have to recognize the country stuff is very rich, with as much as 2 trillion with an overseas sovereign bond holding, including 1. 2 trillion in u. S. Treasuries. Sovereign bonds have been doing quite well lately. Thats right, china owns government bonds and big liquid markets around the world. They got a great balance sheet. I think theyre pulling that money out of those bonds to do something dramatic. They can certainly afford to. You dont hear enough about them. For ages and age, any time we saw minerals and mining stocks jump, like they did today, we always figured china for the run, hey, they must be doing Something Big in stimulus. It makes sense, since it stems from chinese growth, not our, not yours, lately, though, the growth has become a given if china, carolina missed estimates, you get that. We had pretty much given up on the commodity class. Todays rally in oil shows we may be premature in writing off the worlds most populous country from ever expecting to restart. There is only one problem. I think todays torn enthusiasm with commodity stocks could only be short lived. Its terrific to see oil has a pulse. The idea that chinas perspective demand can reverse the fortunes of kruchld seems a little fanciful. The fact that carl icon made a mistake at the big copper, oil and gold concern, semistock after hours, translateding after a 28 rally in the session, certainly makes people feel good, hes a smart guy. I have been negative about the stock for a very long time. I recognize carl can make things happen. I dont want you to chase 4 point. Hes a beloved investor, people want to be extra hopeful. Anything that shows oil can go higher instead of declining relentlessly to the low 30s, gives those who trade in whats known as the fixed income market bonds, some real hope that there wont be a collapse in the rough week, 200 billion in bonds that the Oil Companies have taken to finance drilling thats only profitable at much lieer levels. This risk rally is at the crux of this move. Hey, maybe these Oil Companies wont go belly up. It takes stress out of the markets. Embolden Money Managers to step up to the plate, buy all sorts of securities, not just the oil and pin ral names, Even Companies hurt by higher fuel prices. The whole s p they want to own. Look, this actually makes some sense. Let me tell you what, every day i sam constantly asking people, bonds, stock, to tell me what theyre hearing. How could the market plummet so much in a couple of days . In the last three weeks, i have been getting the same response. Jim, there is a major event. Some big factier lurking because of the commodity collapse. Maybe something akin to, then they whisper, you hate to hear this term, longterm capital. Now, most of you probably dont remember longterm capital, a gigantic hedge fund that borrowed billions and billions of dollars and made a series of bets that went very sour in 19 nation. Its borrowing was so big and the feds so large that, the Federal Reserve had to get involved to inject liquidity in the system to save many of the brokers that longterm capital was on the hook to. Now it can go to read confession of a street addict, many, including my own, were stung and badly when longterm capital blew up. I didnt see it coming. I didnt know anything about this outfit, longterm capital. How big it was, how bad it was, how could it have such an impact . I kept buying financial stocks all way down, until i found out they were the ones with the postexposure to this ridiculous hedge fund. It was a terrible mistake on my part. I ended up taking huge losses at the bottom for something that didnt have anything to do with the real economy. Thats kind of what people are worried about. I never forgot. I still sometimes feel the tire track office longterm capital down my back. I think theyre discernible every time i take my shirt off. The big country u ones. I mention this, the same kind of talk has been going around now, without any firm or country allowed, lurking, lurking, lurking, dont p i dont know who. I hear names. Im not going to share them. That kind of thinking can do real and unfair damage. But i, too, believe there could be something lurking out there, like what happened with longterm capital balls i lived through it. You maybe havent. I did. Today, though, when i see the commodities rally, i want to see oil lift after a huge endless decline, that tells me we got some breathing room. Whoever might be in trouble because of the cascading decline of crude, copper, whatever has a chance to maybe raise some money, make some sales, reposition of dooms day. Yep, in many ways, todays rally was about dooms day avoidance and anything connected with say earnings or sales or the other stuff that typically drives stocks. Of course, this dooms day avoidance, with the markets late day strength, it was more extensive than you might have imagined. You will see the companies that benefit from the fuel environment. Capital style risks we were worried about, some of the airlines, so eager to hire fuel points, manage to eek out gains. Second, its true, any retailer that stumbled got annihilated. Williams sonoma, frankly, not so hot. Tiffany guided lower. Got slammed. They blow away the numbers. Highly unusual. It was blown away with the totally incident dollar tree. Those are solid countries that have done so well. What was more stunning was to see the stocks and companies that should have gone down off that spike in oil, rallied, like home depot and costco. Yeah, then the consumer hurt at the pump. Both of those rebounded dramatically off the lows. The investors breathed a sigh of relief. Plus after the close, get ready, we got some stellar results from two i have been talking up to you. Ulta salon and gamestop. I like ulta because you cant get your hair down at am son, thanks to all the new hardware and games theyre selling, not to mention the loot paul raines, nice job. Best of all, we are seeing the establishment of a new pattern, buyers merge at the end of the day because theyre afraid to miss something food the next day. What a change that is. Heres the bottom line t. Strength of the commodity yet prospect is capable of doing higher stocks that should have gone lower, because the commodity rally potentially eliminates dastardly big events we cant see or feel, but we know could be out there t 1200 in the Early Morning i got a great question on twitt twitter cramer. And in that intersection is drechry and opportunity. Lets accept the fortunes of biotech and big far ma have little to do with portions of china him regardless of whether their economy is decelerating or their stockmarket seems to go down every day except for last night, something is truly rotten in china. They can hurt drug sales to pfizer. People get sick, they take medicine all around the world seton surface, it shouldnt impact these particular stocks at all. That would mean you should be a buyer of both if they decline on the chinese weakness tomorrow. You know what thats not a totally correct assumption. Many make it now. They could be very right. Not necessarily for the reasons. She was dismissive of the linkage. The first complication has to do with the mechanics of money management. There are all kind of Money Managers out there. Ones that want to have lots of exposure to stocks. Ones with lots of exposure to fixed income. Ones who dont like risk and ones who drive on them. If chinas economy is downshifting more than people realize, then it could cause a world wide recession and many of the companies that provide Raw Materials to china will find their Balance Sheets stressed. Some will default. What does that sister to do with the pricetoearnings ratio of bristolmyers . Well, if the manager wants a choice between stocks and bonds, that puts riskiest, equity, they have bond and sell stocks if tough times. Think back to 2008, you wouldnt describe anything including utilities, would you, china is the second largest economy on earth. If it implode, some Money Managers will think its 2008 all over again the ones were wide just like back then. Both biotech and far ma stocks are a part of the indices, they will get sold down. It gets more complicated because . That same scenario, bonds become safe hampbs driving down Interest Rates to levels even lower than where they were now. That puts a 4 uncompanies with above average dividend yield, including big far ma names. So they can go higher if china weak ness causes a decline in treasury Interest Rates that all risk is priced off of because treasuries are considered riskfree. But the biotechs dont pay dividends. That makes them very risky. In times of turmoil, the biotech stocks are so exciting. Thats where the biggest gains come from. That asset group of buyers, speculators, they come under stress here. And these biotechs come down along with the mark, the speculator class, your fellow shareholders in many of these stocks gets mar jond out or sold out by margin clerks right out from underneath them. Because they dont have enough capital to make margin goals. Thats that for sale i talk about all the time. In other words, the profits per se for generon, the Actual Company the stock could go down as a world wide selloff of all stocks. And the decline would desell rate on the offer for quick gains, get evicted because tabor rowed money to finance the purchases and dont have any more to put up. So you have a lousy Shareholder Base coupled with the fact that portfolio machiners want to take on risks if dangerous times. Its not like theyre briming with earnings, most 06 them lose money and they train not on earnings, but on new drug approvals. I like to think of biotech stocks as black Double Diamond runs on the ski slopes. Oh, theyre fabulous to ski on. When the powder is perfect. The sky is blue. Foolhardy when they go down and its frozen andizy. How about the big far ma stocks, are they true safe hampbs in an all out china collapse . No. Currencies, the worlds money flows into the strongest currencies for protection against the chaos that may be occurring elsewhere. Right now the u. S. Is perceived as the strongest nation on earth. Its currency attracts capital all over the world. Hence the super freaking strong dollar. Exactly. Thats terrific if you are buying goods from oversees. But its terrible if you are selling oversees in weaker currencies and translateing them back into dollarsch thats why pharmaceutical xoens companies do so well. They have Huge International sales. These Drug Companies make less money than the analysts expected because their profits were reduced by the currency of declines. In simple terms, cutting numbers for so many hires. Thats right the estimate gets slashed every time the dollar rises against a basket of currencies. So when you hear cutting numbers, bristolmyers, that stock is going lower. When you hear that merck missed the number because of currencies mercks 3 yield doesnt decline that much. The earnings estimates werent made and havent helped merck or any other big far ma company if the Federal Reserve starts to raise Interest Rates aggressively, something that would make their dividends less attractive versus cash, while also causing the dollar to become even stronger, yet another round of estimate cuts. Lets come full circle for our twitter friend. Chinese turmoil breeds an aversion to rick, which then causes stocks, especially riskier stocks like biotechs without dividends or earnings protection to fall harder and faster than others. Exas baited by shareholders, many of whom are playing with br rowed money and will be forced to sell as the stocks go down. Big far ma stocks are safer. But their earnings are hurt by a stronger dollar t. Dividends wont protect their share prices that much from declining, especially if their yields are company st. From riskfree assets like pressure e treasuries. Maybe about 1, are 400 word, biotech or far ma stocks are truly safe from the coin syndrome, so to speak. They might want to pause some complication while were at it. Take yourself outside the stockmarket. Picture yourself at the head of a pharmaceutical company. The actual core business as the tweeter first suggested is doing fine t. Company has a lot of money. So what does it do when these biotechs come down . It buys them, think of a senior biotech like celgone buying a junior one like receptos or old line advi purchasing far macritic licks, thats right. The old world collides to create bargains, they snap them right up. So look at it as a process, while biotechs and far ma companies are indeed immune to a china reduced succession, their stocks can be hurt regardless of the steadies in of the core business. The dividends and the big far ma Companies Might offer shareholders protection, probably fought enough to offset losses of principal especially when you three of weak earnings streams. Biotech stocks get pushed down theyre too risky. Then they get scooped up to be takeover targets for the deep pocketed old far ma plays. Heres the bottom line. On an update like this one, remember if we get real world wide turmoil again, you have as to bring it to to levels where good things can happen. Understand, no matter huh recession proof these companies seem, their stocks will go down on a global recession before they eventually bounce, thanks to other more difficult but positive characteristics that can save the day and ultimately produce steady campaigns once the smoke finally clears. More mad money ahead on the are they taking the reigns in the money market . Money managers may be changing the way theyre thinking. How about louisiana kitchens has lost a bit of a sizzle lately. I am sitting down to see if the company can cook up crispier returns. Plus the coin of nextbooks, could this company be the next disruptor stock . I got the exclusive. You will not want to miss it. Stick with cramer. I spent my whole 36year investing career focusing on whats called the micro. Thats the bottoms up analysis of individual claims. Because ive always believed the best what i to profit is by doing home to find stocks with the finest companies and buying their stocks at the cheapest possible prices, using market selloffs. For the most part, thats been a successful exercise. However, there are times when doing a homework on individual companies simply isnt that relevant. And this is one of those times. Thats because many of the largest pools that actively manage money, even some of the big mutual funds are not focused on individual stocks at the moment. Instead, theyre focused on how the Federal Reserve is keeping rates low, lower than they should be, despite the Gross Domestic Product number we got this morning, showing the astounding growth of 3. 7 . That figure on top soft strong employment reports, they show all else being equal, it is time for the fed to start raising Interest Rates after a decade of what amounts to be free money. But all else is not equal. We do not live in a vacuum in the United States. Sure, our economy is quite strong. However, the rest of the world is quite weak. With the exception of europe, its getting weaker. Its easy to experience it should be hard, the impact on the Global Economy from the fed could be detrimental to the point that it will derail economic expansion on the rebound. Obviously, when the feds raise rates, there will be a massive claening in psychologist. Stock buyers will be fighting the fed as we call it, which was slow given off inflation. Given the dollar will likely soar if we raise rates, it could get a theme song here, it could be a very specific earnings per share impact for our International Companies as well as an act sell racing of the turmoil overseas. Remember, the borrowing market will increase, in other words, the impact could be huge as we saw during the decline on friday. That can be very specifically traced to comments made by the profit st. Louis fed. He said he was sanguine about the world situation, including china so its time for the feds to tighten. Theyre like throwing gasoline on a fire in a crowded theater. Nobody stepped up, the selling accelerated on monday. It continued with more Federal Reserve officials said the rate hike is in the cards. At left sometime, this year. The latest twoday rally, its got again sis of something far difficult. Its genesis is comments made by the far more important fed champion, they were different from the other two gentleman. Dudley expressed a more pragmatic wants view of what needs to be done, if anything about rates, go everyone the turmoil weve seen. I have to describe him as being thoughtful, fought dogmatic. That reassured the market. More importantly, i think his comments insured trust in the fed. That turned things around with food news of china cutting rates, raising lick witd widity and commodities that shows maybe there is a pulse to the world economy. Heres what you need to know. After the multiweek that were currently recovering from, were hearing more and more Portfolio Managers say they can deal with the rate hike. Many say, lets get it over with. As for me, im sticking withpy view as long as the fed remains m practicing mat r pragmatic. They have assessed the situations and acted rigorously the way we said they would with thoughtful regard, heres my bottom line. In other words, this move is and in fed retrust rally. Not a there will be, there will never be a rate hike rally . We trust never be a rate hike. I for one am reassured the downside is now fathomable regardless of what action the fed takes. What a relief know the grownups, not the ideologues are in charge. Ken in texas. Jim. You deserve a huge thank you for everything you and the team have done for us this week. You came out, gave us masters. No excuses, no half waving, thank you. Its been hard. You will miss some. I am trying to get it so people use declines to buy the stocks of companies they like at the prices theyd like to have them. So how can i help you . Its been my best week all year. The devaluation of the chinese yuan and move to allow the value to float in the market has been front and center. China worked long and hard to have the yuan in their currency. I heard them talk and main stream media regarding the state of intentions, to consume this matter in an upcoming october meeting. When the yuan is added at reserve currency, how that will affect the value of the u. S. Dollar and the transaction. You know one of the things thats happened, sir, ken, is i think a lot of people fear there will be another devaluation in the interim. Lets not put the cart before the horse and see what happens in the interim. That will be telling. Ken, thank you for those kind words. I i am doing my best. Listen, this job got darn hard, im not getting younger either. Today we sold and in fed we trust rally. I am reassured the downside has become fathomable. What relief that is . Much more ahead. Pop eyes louisiana kitchen. The restaurant has been out of favor a while. Its time to take a bite. I got the exclusive. The shares for net b. C. For textbooks hasnt been putting upper next market. As the cost of education continues to soar, could the company turn its grades around . Ill ask the ceo. Coming up, lightning round. Stick with cramer. Tomorrow, kick off the trading day with squawk on the street. Live from post 19 of the nnse. What is the ticket to the marks, mr. Cramer . Disney. Disney . It all starts at 9 00 a. M. Easter eastern. That is now that the fog of negativity seems to be clearing, its time to circle back to companies that can do pretty darn well in this environment. Even if stocks are off their highs, todays rally, the twoday rally over almost a thousand points, take pop eyes louisiana kitchen theyre spending internationally at rapid rates. Pop eyes has the serious misfortune of reporting on wednesday of last week in the midst of the markets of decline. The company delivered a strong quarter. Stock was slammed along with everything else. Pop eye posted inline earnings. Global same store sales growth, the astonishing 7. 5 . Same store sales quote goivenlts pop eyes is both the renovation story, theyre in the process of overloading locations in order to make them look more attractive. To me this feels like the company that will benefit from the gas prices. Which means it doesnt have to worry about the strong dollar. Its ten points from its high. Lets check in with the ceo of pop eyes louisiana kitchen. Welcome back to mad money. Thank you, jim. Its great to be with you. I want to talk about invasion. It looks like you had just from the kind of things that you do in your kitchen, you had, you broke the weekly sales record for the chain. Just describe this is what you guys do, with i is info rate is . You know, we have been killing it with our kitchen innovation. The most recent one we finished up is ripping chicken with carbonara sauce, it was killer good. This is how we keep the excitement going on in our restaurant, jim. Explain to me if you can. It has a franchise model. Of course, you own some stores, you talk about higher quicken price, here it is, do we really have to worry about higher chicken prices if you got dishes that are blown out the doors . In fact, bread stick chicken gave us a record sales week and we followed that in the second quarter. So you are right, jim, if you keep your kitchen hot with innovation, it keeps the customer coming back time and time again. You are starting to generate some cat excellent spare cash flow. I think your stock has gotten ridiculously clooep cheap withry far better than almost ever other chain i deal with. Is this the time to do Something Big . Im excited about the steady performs with the company with comp sales up and 11. 5 over two years, jim. We have been putting up quarters like this quarter after quarter. I think worry a sound, reliable investment for the future. How much is getting the word out . I see increasingly you guys using digital and social media presence. It seems like you are shifting from traditional advertising towards that method and you are getting good results. Thats exactly right. Our brand is perfect for social digital. Our customers love to talk about our brands. We just one an appy award, which is the brand for the best Brand Content application. Within we did red stick chicken we let you download an app where you can do a stare down with a chicken. It was tons of fun. It told the story of red sick chicken and helped drive our sales. So you can expect to see more of this from a brand that the customer loves to interact with. You said you had strong growth, i dont relate these with strong growth. Turkry, latin america and the middle east. What is race nateing there . When we think of those areas, its trouble. What is resonating, we are building our Brand Awareness and trial for the first time with Television Advertising and these countries have guests just like in the United States that love our flavor l chicken and are just getting to know our brands for the first time. So were seeing double digit sales growth in these countries as they find out how special pop eyes food is. Should we be looking for more countries, more regions that we hadnt thought of or were not associating with louisiana pop eyes yet . Absolutely. We know that building trial and awareness of our brand is the way we drive longterm comps. So you can expect to see more investment internationally in brand building activity. Let me ask you a question. A lot of the restaurants are struggling. We had buffalo wild wings. Labor costs arent an issue, tough to get people. You guys. Yes, labor costs are steadily going up. We will have to be very attentive to this going forward. The brands that are building market share with innovation will perform the best. Because the way to get the best ever chicken is to sell great products if the consumer wants more of, jim. Yes, managing labor costs can going to be a challenge for all of us. Wow. Its a examined sense in the way that you are expanding. The ceo of pop eye, louisiana chicken, all thes great to see you, thank you very much. There are still stocks inexpensive versus the growth rate. This is one of them. Typically with the fact the expansion overseas is beginning. I like the story. Mad money is pack in a moment. It is time, it is tim for the lightning round. When you hear this sound, then the lightning round is over. Are you ready, ski daddy . The top of the lightning round, linda in new jersey. Linda. Caller hey, jim, i want to tell you are a great teacher. Im going to question this teacher, this professor. What do i do with puma biotech . I own it. It got sa great upgrade today by j. P. Morgan. Because of the jamup, they thought it was too cheap. I got to do more work tan give you that. Let me come back on puma. Lets go to jerry in new jersey. Jerry. Jim your stars, buy, hold or sell . I got to say hold. I did not like that last quarter, versus tj ulta. Steve in florida. Steve. Caller hey, i know, i want to ask you about mankind, i know its down 50 the last few months. Well, steve, i got to tell you, mannkind, we see a big sales bump. I think there will be time. With ehavent seen it yet. Lets go to john in texas. John caller good afternoon how about vora na do . I think those guys are very, very smart. I like them. And three Investment Trusts i like. Mike in california. Mike, mike, mike caller yeah to kramer from the once great golden state, is it time to jump on lima, lima . I understand the desire. They have that compliance officer, that i can turn around, housing is getting better. That one is too deep in the woods for me. Im a hope depo guy. I know i may not go up. I want to sleep at night. Dan in idaho. Reporter hey, jim, how are you doing today . Real good. How are you . Good. If recent weeks, you have been talking about staying away from all chinese stocks. That bring misetoo my question. I currently own shares of yahoo which is going to spin off its portion of ali baba at some point if time. Do you think this spinoff . I think are you in good shape. Look, i have been up and down, stock obviously trades with ali baba. The food news, its time reflecting no value, even if they cant do the tax spin right. I think you are okay. Lets go to nick in colorado. Nick. Caller hi, jim, thanks, to all your folks, too. My question is about ahs. Health Care Staffing is terrific. And may i just say that susan sofka who we had on many times is a terrific ceo who is really created tremendous value and that, ladies and gentlemen, is the conclusion of the lightning round. Thelightening round is sponsored by t. D. Ameritrade. Like a custom screener on your desktop,. Meta is clinically proven to help lower cholesterol. Try meta today. And for a tasty heart healthy snack, try a meta health bar. How hard is it for a company to change its striems. Thats the question when it comes to kegg. It was for a long time a provideroffor College Students. It has been trying to transport itself into a digital provider to help lower the exorbitant stocks. It gives students access to home work online help and how to get scholarships, listing to help College Students get interest. It has 700 digital subscribers, they tell advertisements to students. Its a part of a big mix. Unfortunately, they had a rough time lately the stock is down almost 40 for chgg. This market has been tough. Part of that is the market. Its been terrible until this rebound today. Part of it is because chegg reported the beginning of august. Many investors saw disappointing headlines. I can see where those investors were coming from. While the company delivered a top line beat, the company feels as though the negative statements is misguide. Here at mad money, we like to give executives the chance to state the chase. We found out more about the quarter to a Digital Services provider is going. Mr. Rozo, welcome to mad money. Have a seat. Silicon valley. Thank you very much. I got bma capital, no surprise. Barrington research. These all came up today. Results topped expectations. I got j. P. Morgan saying the solid results are better than expected. I have piper jaffry saying the numbers were above consensus. The headlines were that you miss the quarter. I want people to understand the headlines may not always be accurate. You are right. Its a difficult thing when you are transitioning the company. The communication is difficult. The difficulty in these press outlets no long ver human beings. They have bots or in the case of reuters, the company p person was in bang lor, india. We had to wake her up at 4 00 in the morning. They said a big miss. We missed eps by 11 cents when we bet it by 4 cents. It was the biggest beat we had and we raised begins for the rest of the year so its really difficult, because when were transitioning our business to the Digital Business the revenues go down, its a good thing, instead of recognizing the entire price of the book where we are rent, we recognize the commission from england, which is our partner. That has 55 gross growth margin. There is a complexity to it. The headline, the people that wrote the story didnt understand the complexity. You told me to, dive into it. I saw what you mean. Now, lets talk about the company. This is backtoschool season. These are your heydays, how is it going . Wear very excited. This is backtoschool rush. My daughter sam just went back to colgate. My nephew, sam. I have two sams in the state. I am very proud of them. Startsing last week and this week and the next week is our big tect book rush. This is when it goes crazy. If you check out our twitter feed, students love us. Our homework and tutoring season and internship season and high school do you understand getting into college, so we diversified well we have a 365 day a year business instead of four days a year. Getting the word out has been an issue, when i asked my daughter at tulane, she said, dad, i be i my textbooks at amazon. They just provide textbooks and so you know, look, its an issue. Its an opportunity. Okay. So you know, five years ago within they took over the company, all we did was rent text bucs. Thats it. We had four day a year relationships. We rented return, rented return. Now we got over 50 of all College Students, 75 of hue School Students who intend to go to college and 70 of our members use this for something other than the text b. C. Business. So in the minds of students, we have crossed that chasm. So you mentioned we had 700,000 digital subscribers, that was 700,000 in the quarter. So well have well more than a million in the 84. So interestingly enough, 40 of our paying subscribers this last quarter where we have the bet and we raise the rest of the year are digital survivors. Our digital three years ago was zero. The year it will be between 147 and 150 million. What do you expect next year . It will be a pure digital company. Our partner ingram, well use tear cash. We have gone from a Company Using 100 million in cash to being cash flow positive. A company slow growth to growing 37 last quarter on a pro forma basis. So you can expect this company to keep growing like that, offering more service, more help, more tutoring, more math, more english. Everything that cuts college kids. Dan, thank you for explaining to us what happened. Dan is the chairman of chgg. Now you got the facts. Stick with cramer. See what im doing . Im taking my pulse. Thats what happened today. Oil showed a pulse and once oil gets going, people are saying, you know what, maybe its not the end of the world for the minerals and mining commodity stock . Thats what this rally was about. Im jim cramer. See you tomorrow why was she dropped in times square . Why was my name tattooed on her back . She cant remember who she is. Nothing. We think she might have been a tonight on the profit. I go inside skullduggery, a toy company that should be filled with imagination and fun. It was kind of, like, confusing. Can you read . Instead, i find two brothers struggling to make a profit on merchandise that kids dont want while falling short on creating new hit games and toys. Its our first game ever. It didnt do very well at market. The toy industry, while enormous, is a brutal and competitive game. These toys seem like theyre already out there. And if the brothers cant learn to innovate and sell. Steve, why do you think nascars good for skullduggery . [laughing] theyll get shoved to the back of the closet with the other forgotten toys. You basically just said, [bleep] you, im just not gonna