Transcripts For CNBC Mad Money 20240713

You do you reach for the stock equivalent of comfort food something that tastes just like the great bull markets of thats right you reach forfang, my acronym for facebook, amazon, netflix and google this session its more like fang because microsoft has become red hot. Netflix suffered a rare decline. The tech stocks led us higher. With the s p rising 1. 67 , and the nasdaq zoom being 2. 80 , it was a matter of time before we return to the tried and true this market has been going through groups like theres no tomorrow first we had the rally in the defensive Consumer Staples during the work from home nuclear winner the stocks rebounded we started reopening hospitals for nonessential medicine a run up in the big box retailers. That group seems a tad exhausted. Weve seen a surge in the Semiconductor Stocks as demand picks up from china and 5 g. Build out looks good continue with analog devices, amdi a decent quarter. A run in industrials as people bet the economy might be coming back as america reopens for business and the price of oil rebounds in the low 30s. Its done well of late even the banks have been able to stabilize. Something tends to happen when the fed reserve prints enough money like the titanic the cruise lines, casinos, Even Airlines rallying, it makes sense banks should go higher or at least level out now its fangs turn a bunch of things drive thing move first amazon a host of major retailers report fantastic ecommerce numbers target, walmart, home depot lows which well hear from in a second even after all that, amazon is the king offer ecommerce. Theres a lot to like with surprisingly good margins when it wants them. Steady delivery and, of course, the rapidly growing Amazon Web Services division. As for google now known as alphabet, theyve got a great Cloud Infrastructure business growing, too, google cloud which is so good that lowes gave them not one, but two shout outs on the Conference Call. Apple is supposed to be a slouch in entertainment, right . We just learned that the new tom hanks world war ii movie is launching directly on apple plus rather than opening in theaters, i dont know about you, but i want to see it microsoft is higher. Some of its momentum, some of it might be the cloud gaming divisions. The big shock of the day is that its Facebook Facebook leading this group higher, alltime high, facebook. Whats fueling this move simple kind of startling for some they have the beleaguered the economy with the Small Business initiative that will basically let you open a Digital Store on facebook or instagram, by the way, partner with shopify. I think this is the future of Small Business lots of Sole Proprietors making things work over the web, forced out of brick and mortar. Rent is too high apparently facebook agrees while ive been lukewarm of on some of facebooks actions over the years, this can make a positive difference in a time of painful unemployment and sputtering small and mediumsize business more on that later when we speak to cheryl sand berg. First we need to understand whats happening in the bigbox retail space because the pandemics hit them very differently. Remember, theyre essential in the struggling smaller chains. Its tough to take the pulse of the consumer here because theres too much we dont know and were in unprecedented situation. However, we know that lowes, the terrific Home Improvement chain, just reported magnificent quarter with a huge earnings beat and 11 samestore sales 12 in the u. S how did they pull it off and whats it mean for the state of the consumer lets find out earlier today we sat down with marvin ellison, the turn around artist exemplar and president and c. E. O. Of lowes take a look. Marvin, you accomplished something amazing this quarter you went from executing a Financial Plan to becoming an essential National Retailer. Sir, what did that entail . Jim, first and foremost, we shifted to three priorities. Number one, the safety of our associates and our customers number two, making sure that we did everything we could to support the community, first responders, police officers, health care providers. And third, we just wanted to be there financially for the most vulnerable associates. And that allowed us to pay 80 million in special payments in the month of march, raising wages by 2 an hour in april, doing another 80 million special payment in the month of may, and were going to have our Profit Sharing pay out in june thats going to exceed 90 million. So its all about trying to do what is best for our Associates First and our community, and were proud that we could be there for them in really unique times. Marvin, i have to say you did Something Else here. You even turned away business. You made sure that customers were safe and associates were safe and yet you still did a 12 Comparable Store sale number in the United States. How is that possible jim, our culture is about doing the right thing for our communities and our associates we made a decision to close on easter, and candidly, that was going to be a sales day that exceeded 200 million. We had no way to make that plan up, but we decided it was the right thing for our associates to get a break to spend with their families and loved ones, and we decided to close for the day and just give them that chance to recharge their batteries and to spend that time with their families. What we didnt realize is that for the month of april, we still drove a sales comp of 20 , even with easter being closed so that is an example of doing the right thing for the right reasons. And the business still demonstrating appreciation for the hard work of the wonderful men and women that work in our stores marvin, what does it also say about the strength of the United States, the economy, and the fact that there may be a recession, but it sure doesnt sound like there is a recession in housing well, jim, one of the key things we talk a lot about is when you look at the downturn that we are currently living in, it was selfimposed, as you know much different than 2008 and 2009 the the Housing Market is very healthy. You dont have a bubble. Theres no excessive home price appreciation theres actually a shortage of homes and theres probably the largest percent of aging homes in the market than weve seen in the last 40 years. Thats good for Home Improvement, its good for housing. But the other thing thats really important for us is customers want to spend money where they have choices, where they have options. You and i talk a lot about the power of army channel, give the customer the ability to shop anyway they choose, in store, online, buy online, pick up in store, curbside, you name it we were able to employ all of those things for the first time. Drove an 80 growth in dotcom, but triple digit growth in april, and those are happening in the month of may. Its about giving the consumer choices. Its about giving them the essential things they need for their home weve done that well im proud of our associates and proud we were there for the community when they needed us most lets pro skbreject forward not financial projections. Memorial day, historically a good day for lowes. Could it be given the triple digit. Com, the changes you made, a holiday, a harbinger of Better Things happening in the country . Well, jim, i hope so. I mean, obviously none of us have a crystal ball. We can look at the trends of our Current Business we feel great about how the customers are responding to all the hard work we put into the company in the last 18 months. I couldnt be more proud of the men and women that i sit around the table with virtually and physically every single day and week, running this wonderful company. And we think that we built a company and we made the necessary improvements in the business that were going to have a strong memorial day and a strong rest of the year. But our most important effort is to continue to make sure our associates and our customers are safe, and that we can be there for the community. We announced today, jim, that we have a 25 million grant that were going to be giving out to Small Businesses that are reopening to help them with p. P. E. And other things that they need that they probably cant afford just to get up and going. These are going to be minority businesses and other businesses that are now starting to reopen. So we just want to continue to not only run a good business, but be a great Corporate Citizen in all the communities that we operate in this is a new paradigm. This is not what we expected about American Business, but a lot of what i expected from you and the soul that you bring to this organization and to the top people energized i like what you said about minority investing and 25 million because you have what we call the pickup truck pro, and that is the person who has been hurt, the Sole Proprietor looking for business in a recession. How are they doing jim, thats our core pro customer and believe it or not, in this downturn, that segment of pro has been the healthiest segment, that smaller, you know, Small Business person, pickup truck pro. That customer is still relatively healthy what was interesting is that they had projects that were delayed but not canceled and so now were seeing their book of business fill back up. Theyre starting back to be busy again. And in a lot of cases were the sole provider from a product standpoint for those small customers. We have great credit terms we offer them we give them flexibility and delivery, and all types of flexibility around service model. So believe it or not, the good news is that customer is starting to come back, and that is a sign that hopefully this is not going to be elongated recession specifically in that segment of the economy when i listen to you talking about the term i dont think people realize how hard it is to actually turn a Large Business around the years are littered with failed retail turn arounds you came in the first week of july you found a disspirited group. Judging from what youve done with them thats correct no longer carries youve got an energized group and a loyal group. But you had no dotcom to speak of you decided to work closely with google cloud which has become very aggressive. You had amazeling triple digit yet at the same time you have said on the call that its nowhere not even finished yet. So the numbers could be incredible Going Forward jim, our dotcom business is only going to get better i said it before the three things you need to do to create a great dotcom business we recruited the talent. We have the most talented tech teams in retail right now. We invested the capital to do it correctly. Now weve had 12 months into this, were starting to see the work pay off theres no way we could have the sustained levels of growth online if we hadnt made that platform migration to google cloud. And we have a series of other really great functionalities youre going to see from a oneclick checkout, search and navigation, the ability to schedule and do all types of visibility, order destination online were going to be rolling out buy online, pickup in store lockers. Were going to modify curbside to be digitized. We have an array of things to give us the best in class dotcom, we think we have a great future in front of us. Last question what is your message as an essential National Retailer who has a tremendous breadth of knowledge, whats your message to the country right now, which is i have to tell you, a country that i find a little discouraged . Jim, my message is simple look, i grew up in a small town with parents that didnt have formal education i worked my way through college starting at 4. 35 an hour associate, and now im the c. E. O. Of the 44th Largest Company in america this can only happen in america. You cant keep the american spirit down. You cant keep the American Business climate down. We have to be smart and work our way through this downturn, but we have brighter days in front of us. To all my fellow c. E. O. S out there running large companies, lets do our part to help the Small Businesses get back up and going. We went to the Retail Industry leaders association, a trade association for retail we gave them our entire playbook for safety and security and how you open and how you operate in a covid19 environment we gave it to them to share with other retailers because the only competition that we have is the virus. We have to Work Together to get this economy going, and my message to america is support your local businesses. Support your Small Businesses and lets do our part to maintain social distancing so that we can get this virus behind us as quick as possible marvin, i want to thank you so much for coming on mad money. Congratulations on the turn. Thank you, jim. Glad to be here. Thats marvin ellison, president and c. E. O. Of lowes listen, the stock for a second, its a buy culling up, facebook, verizon and mondeleze. Stay with cramer announcer dont miss a second of mad money. Follow jimcramer on twitter have a question . Tweet cramer madtweets. Send jim an email to madmoney cnbc. Com. Or give us a call at 1800743cnbc miss something head to madmoney. Cnbc. Com. Facebook has been getting higher ever since the bottom in march. Today it went into overdrive the stock rallied 6 , new alltime high. The reason today welearned theyre rollin out facebook shops, thats an ecommerce platform for Small Business its something you know im incredibly passionate about. I think this is actually the perfect concept to help stem unemployment and restart entrepreneurship in the age of covid19 do not take it from me lets dig deep with cheryl sandberg, c. E. O. Of facebook westbound to mad money. Thank you, jim. I love being on your show. Were in a time a lot of people see the market going to alltime highs your stock went to alltime highs. 70 of this country is in big trouble. Those are the people that work for Small Businesses theyre trapped in rents that are too high and brick and mortar that are too high and along comes this initiative. And to me this is the answer for a lot of companies so,we agree with you. This is not just a Health Crisis this is an economic crisis and its a crisis for Small Business Small Businesses create twothirds of the jobs in this country, and i know thats why youre so focused on them and why everyone should be we put out a report this week, the state of Small Business report, which says that 31 of Small Businesses have stopped operating entirely, and another 11 believe if things dont change, they will go under as well this is the worst number half of Small Business owners dont believe theyre going to be able to rehire the people that they had to let go. And that means we all need to do our best and our answer to this is weve had a grant program. Weve had a lot of initiatives but probably the biggest thing is what we just rolled out which is facebook shops. How does it empower a small or medium size business in an opportunity that they would not have and i am sure theyre going to ask how much is it costing so, it doesnt cost anything and it Takes Minutes to set up and the idea is that anyone can have a Virtual Store front for free on facebook or instagram, you can have a facebook shop you can upload your products you can use messaging services to directly communicate with customers. And, again, its free. Its virtual it Takes Minutes it Takes Minutes to set up so, i know that a lot of people have been saying, look, facebook has been a tremendous profit generator but it really hasnt been that affiliated with its most important ambassadors, most important customers. But it seems like i know that mark personally is involved in this youre personally involved in this and this may be a new well, the correct perception of what facebook is really about so, weve always been in the business of Small Business there are 160 million Small Businesses that use our free tools around the world and then there are 8 million that go on to advertise with us. So really, the great majority of the work we do is providing free tools to Small Businesses. But in the age of coronavirus, people have to migrate online and they need to get there quickly. But its really expensive for a Small Business owner even before this to set up a mobile presence this is, as we said, free, cheap, easy free and easy, so that people can do that literally within minutes all right so last time we spoke in march, you talked about a new effort to give 100 million in cash and advertising credits to help out Small Business hurt by covid19. How is that Program Going . Its great. We rolled it out i announced it on your show. We then opened applications for the u. S. Those applications are now closed within a few weeks were going to get cash out the door just like with facebook shops, were listening. What Small Businesses said at the beginning of this crisis is we need cash and so we put 40 million to work in the United States. We earmarked half of that for women and minority and veteranowned businesses because we know when crisis hit, the most vulnerable get hit the hardest. And our goal is to get that money out the door but we also know we cant reach everyone with that program, and thats where free tools like facebook shops come in so that anyone can start selling or interacting with customers online because thats what its going to take to get Small Businesses through this crisis and keep people employed cheryl, one of our favorite companies, literally a year and a half ago, you called it a small cap, shopify in canada and theyve got some people who really share the ethos were talking about. You paired with them why not do it yourself because we want to focus on what were best at what we do is we connect people and businesses we connect people and people we are that connective tissue. Shopify is a partner in this, so are other companies. And if youre a Small Business and youre already using shopify, thats great. You can then plug into facebook shops and start selling directly online while continuing to use a lot of the tools they and others provide. Were not one of those companies who wants to do everything ourselves. We want to do what we do best, which is that connection they do have a great Ambassador Program themselves. Really, they have a shopify experts. If im new and im on facebook and i am a Small Business person, who can i contact at facebook that could at least walk me through it, just in case im not savvy enough well, the best place to go is facebook commerce manager. We have everything laid out there as well as an ability to ask us to get in touch with you for help and if i were part of a group, say, a group of friends and we had this idea but we never thought it possible, but were all at home. Were quarantined. We dont know what to do what is your advice on how to start a Small Business and take advantage of their own followers in order to be able to make it so that they can make some money in a time when so many people are unemployed so, thats whats happening all over the world people are doing this from their living room. People are doing this from their bedroom. So, if you want to start a business or you have a fledgling business, i think you want to set up a facebook profile or an instagram business profile those are free they are fast. Its just like doing it as an individual, so just like i can set myself up as a person. I can set myself up as a business and then start using the free tools to reach people. And were going to keep rolling out those tools. Were going to keep listening. Voices like you, jim, told us this was necessary voices from Small Businesses all over the world were going to keep that Product Feedback coming in and keep rolling out the products we think can help in a time of tremendous unemployment where a lot of people are lucky enough to, like me, have contracts do well, we look at other people with the shuttered doors and say, theyve got to get some money in facebook is doing that i think this is the facebook i know im familiar with we could go on the other stuff lets stick with this for now. All right, cheryl . Thank you so much. Thank you for your encouragement and support, and thank you to all the Small Businesses out there that are keeping our country going and staying in business. Were going to do all we can to help you thank you so much thats cheryl sandberg, c. E. O. Of facebook, doing whats right for Small Business we need advocate for Small Business thats what we need at this time, right at this moment mad money is back after the break. vo our communities need help like never before and wells fargo employees are assisting millions of customers across america through fee waivers and payment deferrals, helping people stay in their homes through mortgage Payment Relief efforts and donating 175 Million Dollars to help hundreds of local organizations provide food and other critical needs. When you need us, wells fargo is here to help. Truly transformative sleep. So, no more tossing and turning. Because only tempurpedic adapts and responds to your body. So you get deep, uninterrupted sleep. During the tempurpedic summer of sleep, all tempurpedic mattresses are on sale but when allergies and congestion strike, take allegrad. A nondrowsy antihistamine plus a powerful decongestant. So you can always say yes to putting your true colors on display. Say yes to allegrad. Some Companies Still to have hr stuck betweenors employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. While the package food stocks have been on fire lately, some of them cant seem to get enough love. Im talking about mondelez, snacking king pin. Stock is ten bucks off its highs. This can be a real bargain lets check in with the chairman c. E. O. To get a better read on how the company is doing welcome back to mad money. Thank you, jim. Pleasure to be here. Thank you okay, so, deredirk, this pandemic has released something i found somewhat unexpected, a lust for snacking millennials embraced snacking. You and i have talked about that it seems like the aided by work from home movement, its a generational tidal wave. Can it stay . I think it will stay because if you look at the consumer, the consumer is nervous at the moment, anxious, spending a lot of time at home. So they want comfort they want something that brings them back to normalcy. And as a consequence, they are snacking more. Also they used to eat a lot out of the home. Now they have to do everything in the home. So i think for the foreseeable future, that increased snacking is going to stay, and hopefully that will last even when things have returned to normal, which could be a significant time from now. So i do think that its going to stay the other thing were seeing is not just the snacking. Theyre going back to trusted brands, the oreos, the chips ahoy, the things they know and love, makes them feel good and i think also that return to trusted brands are increased penetration, more people consuming our brands, i think that will last also. Lets talk about a contradiction that youve addressed head on. I think the analysts are far behind what youre getting at. You did an unbelievable talk, snacking made right investor call a couple weeks ago. In it you talk about the generations. Now, if i presented my kids vanilla wafers i love so much, they might go for. But hu, hu, chocolate, they would be shocked this is where the new mondelez is going my daughter has a tower of it when i walk in thats all she eats. No, we try to provide snacks for all types of consumers and, yes, youre right, the younger consumers tend to be much more focused on brands and what do these brands mean for them and so as a company, yes, we are trying to expand into brands like hu, which stands for something different. That doesnt mean, however, that an oreo, for instance, doesnt do well. It is the most popular food brand with generation z and millennials. It still is. And so there is this mixture going on, and we try to make sure that our old and established brands which are still very young in many ways, like oreo, still appeal to younger consumers. But at the same time, for those that really arent there, we are offering them a new range of different brands, and we try to do both basically. I think that must be one of the reasons why you have what you call, i quote, unprecedented share gains. But another thing i think youre doing well i want you to talk about, in our office when we have oreos, okay, my generation just loves or yoes thats all we know you have many different iterations of oreo i would have found as almost sacrilege but the younger people love. Yes, yes, they do and its i think it has to see where younger people are looking for whats important to them and what a brand stands for, what it does for the community, what it does for sustainability, and so on. Those are things that are really important for them and as brands, you need to make sure that that is there, so thats why we did Something Like snacking we want to show as a company more than ever what we do in esg is important and we want to do the right thing, especially in these circumstances. Now, you also talk a lot in your all your venues about the resurgence of some parts of the world while others are going down you talk very positively about china and asia has been incredibly strong for you. United states, some Convenience Store cutbacks organic growth is extraordinary. Latin america, i am very worried about from what i read about by covid. Can you give us around the globe where we are yes u. S. , i think, your audience is aware we see a big increase in snacking consumers are at home. We have a big biscuit business so we see a big increase in demand, and thats clearly benefiting our sales we see something similar in europe, but there business is other things, like more away from home, like food service, or more world travel retail, so the dutyfree type shops obviously those are quite effective. So we see an increase in europe, but its not to the same extent as we are seeing in north america. China has been incredible for us, yes. February was down. March, we were already in line with last year in april. Were far above last year. That is largely due to our team who are out on the starting block after the crisis, the first ones, and really put a lot of dedication in it. China is coming back with a vengeance for us then, yeah, southeast asia, india. At the moment, quite affected largely because there is huge lockdowns and the government doesnt want consumers or workers to go through the plans, through the stores thats going to come back. Everything will come back quite fast so that leaves latin america where we are seeing the same thing. Quite harsh lockdown measures. We still see the trends of infections going up. And we expect in the coming months latin america to be severely affected and were taking all necessary precautions to be, again, on the starting block as soon as the stores open up again but latin america is probably going to be the slowest, youre right. Last question youve really made your Balance Sheet fantastic. You brought do you thiwn the re, you have a 13. 6 stake in dr. Pepper which has been a very good stock and jde, i happen to be a big petes fan myself. Possible ipo coming there. Do you really need to monetize those . Are those financial or are those strategic . No, those are Financial Investments for us we support the ipo of jde. It offers us liquidity not that we need it right now, but it gives us options. And it also puts a market on what the value is on our stake in those companies kdp is already public as you know we are very supportive we dont need it right away, but it gives us options for the future well, excellent dirk, thank you so much for coming on the show and also thank you for everything you do from cocoa life, for all the several 100,000 farmers that benefit because you care i know thats your initiative. Thats dirk van deput. As stock that deserves to be higher mad money is back after the break. I got this Mountain Bike for only 11. Dealdash. Com, the fair and honest bidding site. An ipad worth 505, was sold for less than 24; a playstation 4 for less than 16; and a schultz 4k television for less than 2. I won these bluetooth headphones for 20. I got these three suitcases for less than 40. And shipping is always free. Go to dealdash. Com right now and see how much you can save. As the economy started reopening, some of the safety stocks have pulled back. Verizon, heres a company thats pretty much immune to could covid19 but if we got the virus contained, is there anything truly exciting here beyond the 4. 5 yield yeah, absolutely 5g verizon just rolled out 5g ultra wide band service in the city of san diego. Its in its infancy. Theyrepoised to win big lets talk with the chairman c. E. O. Of verizon to learn what the company is doing welcome back to mad money. How are you doing, jim . Im doing great, hans its great that youre here. Before i get started talking about 5g, since the start of the show, when people ask me for a stock on the street, i always say verizon because i know ill never be hurt. We are now facing an extraordinary recession. Where even some of the Utility Companies i deal with have had to defer just say, listen, were not going to cut your electricity off. Were willing to forbear is verizon in shape to be able to handle that level of unpro t unemployment of course, its a very unprecedented situation, unemployment and all of that as we said when we had our earnings report, we had a small amount of customers that are on the keep america connected prom. We dont disconnect them if i would look today, i would say the receivables are almost on the same or similar levels for consumers and for small and Medium Business as it was precovid19 so we have seen some improvement, so thats where we are. So far so good, but, you know, we dont know how long this will be and, of course, it will be tougher impact all the time if this continues for a very long time our company is delivering a service that is extremely important in these times the connectivity is essential today in our society in order for us to be connected and be able to do our work. Were connected with friends and family you let them take away your home or your car before you let them take away your phone. For a long time, hans, we had an inferiority complex in this country. We heard over and over again, korea is faster than we are. Australia is faster than we are. U. K. Is faster than we are ip look at a new study come out about verizon 5g and i dont feel so inferior how did you get this way i think we are building 5g right. I talk about it all the time we want to have a superior experience on our 5g network we have the best network which is fantastic with all the thirdparty we want to have the best 5g experience for our customers. Remember, its not only consumers going to get this experience we want to actually have industries and governments also using 5g in order to enable new type of services and transform their businesses and thats what were building for. So our speeds on is unparalleled its 10, 15, 20 times faster than we have on 4g, and our 4g is already really, really good okay. So in a recent interview with phil at jpmorgan, he asked whether what would be the difference with 5g you said youre going to see some improvements over time, but then dramatic improvements what we have lacked, hans, with the word dramatic, does it mean no circle while waiting for netflix . Does it mean zoom doesnt look like were in some weird silent movie . Does it mean were going to be downloading movies in record time which are these . All of them if you are in the 5g band, we basically have unlimited spectrum and we can give that type of services to each and every of our subscribers that are using our 5g network and we already are up on 2 giga bit per second on the phone which is unheard of. Verizon is the best performing 4g network is giving you 14 to 18 megabits per second unparalleled how much faster it is not only that. Low latency for read time transaction, vr, Ar Industries offered from the 5g. Thats what i said already from the beginning. We are accelerating our investment levels right now because this is even more important for the nation at this moment to have these highspeed networks lets talk about the theme about the nation when tmobile decided to merge with sprint, they talked about a national imperative of having the best 5g. Do you think it really will encourage competition . Some of us are concerned that with just three phone companies, our bill is going to go up i think that has been a very competitive wireless market in the United States and it will continue to be so. However, i feel really good about our positioning with our network, with our brand and our distribution so were going to compete well, but clearly its a very competitive market and we know this service is so important in todays society. But, again, we are well positioned to take care of that. Okay. Many companies are worried about their Balance Sheet. Theyre cutting capital expenditure. When i hear that, theyre cutting the future you are increasing capital expenditure. Is that because of need because of covid19 . Because of moving to your work at home . Or is it just because youre committed to being able to see certain technologies that will really change the Consumer Experience in the beginning when we when covid19 came out, we decided immediately, were going to increase our capex. First we thought it was insurance if the traffic would be different it was not even though the network we are 1200 more usage on the network when it comes to collaboration due to conferencing and other things. 9 netwo the network is coping well this is a time we can invest more and it is responsible and its the right time to invest. So thats what were doing right now. And as i report, well have our first Earnings Call we are on plan for our 5g deployment, and they are big we are doing five times more were going to do 60 cities. We are rolling out our fiber which is somewhere between 1500 to 1800 route lines a month at the moment we arent holding back we think this is the right time to invest for us and for our customers. I think youre definitely right. And i feel my Charitable Trust has always had a position in verizon. I feel like im going to continue to say to people when they stop me on the street, how about verizon . It doesnt ever hurt me. Thank you so much, hans, verizon, chairman c. E. O. Always good to see you, sir. Mad money is back after the break. For business as usual. Or is it . What if business as usual means putting people first. And understanding their needs . If thats your business. 365 days of every year, then business as usual is precisely what these times require. Which is why your lexus dealer will do what weve always done. Put you first. Find out how we can service your individual needs at lexus. Com peoplefirst. Announcer lightning round is sponsored by Td Ameritrade it is time its time for the lightning round. Rapid fire calls buy, buy, buy sell, sell, sell. [buzzer then the lightning round is over are you ready, ski daddy lets start with ben in illinois ben. Caller hey, jim, love you, love your show thank you caller you know, what is it, summer is coming up, people dont know if theyre going to stay indoors ornot, so how do you feel about bed bath and beyond i think bed bath is a stocky liked and what happened is the world came to an end basically for retail it was deemed nonessential i think its a very tough thing for it to come back, but it does have the capital it can last. It can try to last lets go to culver in georgia. Culver caller hey, jim. Im a 22yearold investor who just graduated from Holman University there you go. Caller all right my stock is Te Connectivity. I always liked Te Connectivity it is a component stock working in this environment. I would own the stock. Lets go to mike in new jersey mike, mike, mike caller hi, jim a big booyah from jersey shore long time follower thank you caller i started acquiring the last few weeks and really like Pioneer Natural Resources and would like your opinion. Well, Scott Sheffield is probably along with mike worth, two of the people i trust most in the oil patch pioneer is one of them, i like parsley, i like chevron. I think youre fine and im not into recommending Oil Companies but i think youre fine. Lets go to warren in virginia warren caller bababa booyah mr. Cramer gotcha. Caller second time caller. My stock is dng food i wish they would come on its a mosaic of old brands i think should be doing well now in the pantry business, thats exactly what is happening. I dont know the longevity of it because the brand seems tired to me its kind of a mini kraft heinz. Lets go to john in new york john caller booyah, jim hey, john caller longtime viewer. I would like to thank you for the wealth over wealth of information over the years Digital Realty i Like Data Center reits. Nice level 3. 1 . How about scott in florida scott. Caller hey, jim, how are you doing, buddy i am good how about you . Caller good. Hope you and your family are safe and healthy may get to see them this weekend, i hope. Whats going on . Caller calling regarding ctxs its like zoom, too much of a move, theyre consolidating right now. Consolidation is actually positive, some people feel like we go back to work, they wont do as well thats wrong good stock mark in wisconsin. Mark caller yes, jim, the stocky got for you is box, ticker box. Seeing you box, raise you with dropbox which had the better quarter thats the better one to be in now. Lets go to marcus in florida. Marcus caller how are you doing, jim . Love your show thank you caller i appreciate you taking my caller oh, youre welcome. Whats going on . Caller um, ive got a stock and they produce a majority of the tech pits for the coronavirus or covid19, whatever you want to call it okay. Caller and, um all right caller they went up to 31 and then back down to 18, and now theyre not budging whatsoever and what stock is that . Caller its codx oh, codx. That one is too controversial. I have to do work on codx. [ buzzer ] thats like a penny stock that went nuts i have to do more work on it because they do not definitively have earnings i can tell lets go to greg in texas. Greg caller hey, jim. Hey, greg caller you got me following this one i bought Gw Pharmaceutical at 106 a week ago right before they reported they had great numbers wow caller theyre about 124 now. Its medical cannabis its the only one the doctors use because it has dosage. It will be the one they use because dosage is hard to get in regular cannabis so i continue to like gw pharma. And that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] announcer the lightning round is sponsored by Td Ameritrade. Dolph lundgren, youve got a onesixty i. Q. , a masters in Chemical Engineering and youre technically a genius. And it appears youre quite the investor. I like to trade. Well, Td Ameritrade has pros ready if you need help, say talking through a new strategy. Just in case things, you know, get a little rocky . Im sorry on the upside i think thats waterproof. Maybe not. Thats why working together ist more important than ever. At t is committed to keeping you connected. So you can keep your patients cared for. Your customers served. Your students inspired. And your employees closer than ever. Our network is resilient. Our people are strong. Our job is to keep your business connected. Its what weve always done. Its what well always do. Ive always said you cant afford to take your cue from genius money managers. Been a theme for a long time theyre not accountable to you they can change their minds in a heartbeat without giving you any notice and even the smartest investors are wrong. A lot. Thats the nature of the game. Nobody has a magic formula or crystal ball so you cant lend too much credence to the opinion of any one guy including me. By all means, hear them out, see what they have to say, but dont take their words as gospel you need to think for yourself rather than bowing to the conventional wisdom. Let me give you some claire i dont know examples. From february 18 to march 18, Dow Jones Industrials plunged from 29,000 to less than 20,000. On march 18 that was the day when bill of persian square came on air and said the economy should be shutdown for a month this is a direct quote hell is coming a few days later the market bottomed and since then came roaring back when you parse what he actually said you could argue he wasnt technically wrong. He warned us what would happen if we didnt shutdown the economy. That became moot when we did go into lockdown like he wanted he went so overboard with his doomsday histrionics it scared people if he scared you away from stocks you missed out on a phenomenal rally the next day we got our second example, bridgewater came on squawk box and predicted we were on the verge of a second Great Depression he mentioned the 1930s as an analogy four times he talked about how the government would need to spend 1 to 2 trillion and the fed would need to provide all sorts of guarantees to stave off a wholesale economic collapse. Brilliant guy, much smarter than i, and thats where his bearish prediction went wrong. Hes so smart the treasury secretary mnuchin and fed powel listen to him. Congress acted it sounded like a massive bail that was unlikely and borderline inevitable we learned old school Hedge Fund Billionaire came out with a statement the risk reward was as bad as hes ever seen it we dont know his exact words. Could have been taken out of context or blown out of proportion the way the story was reported, it sounded like he was screaming, get out now since then the dow is up 800 points its barely been a week so its too soon to tell with that call. I think you need to take it with a grain of salt just like you should with ackman with a whole carton of mortons iodized theyre always changing their mind ackman turned positive thats why you cant read too much into the grand pronouncements when youre managing your own money you have to think for yourself just like they do stick with cramer. At leaf blowers. You should be mad your neighbor always wants to hang out. And you should be mad your smart fridge is unnecessarily complicated. Make ice. Making ice. But youre not mad because you have e trade which isnt complicated. Their tools make trading quicker and simpler so you can take on the markets with confidence. Dont get mad get e trade and start Trading Commission free today. Dont get mad get e trade and start trading i am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Snhu lets you transfer up to 90 credits [announcer] if youve tried college but never finished, toward your bachelors degree. [woman] it doesnt matter how old you are, you can do it. You can finish. [announcer] finish your degree at snhu. Edu. The struggle for survival for some local businesses in ohio, plus pitbull stepping up for latino Business Owners and will your Summer Vacation exist even this year all tonight at 7 00 p. M. With my friend scott wapner. Takes you all over the map i know that theyre cautionary on the Conference Call i do not think you should blow it out if you own it but i understand its been a rocket ship, and people are taking profits not much more to it than that. I like to say theres a bull market and i promise to find it for you here on mad money. Im jim cramer and i will see you tomorrow good evening im scott wapner on day 143 of the Coronavirus Crisis on the eve of memorial day weekend. Our question tonight, is it safe to plan a Summer Vacation . Just make sure were staying six feet away today. Part of disney world reopening. As we close in on memorial day, tonight what Summer Travel looks like across the usa, from planes to beaches to hotel rooms. Our intention is to test as many people as