Transcripts For CNBC Mad Money 20240712

S p 1. 5 and the best quarter since 1998 and nasdaq gained 1. 87 and looked fast tas tic fc my own point of view were the stocks with a lot of ingenuity and a lot of great luck. Many were stocks that bounced back from the march meltdown thanks to the 2. 2 millitrillion stimulus package these compapanies got lucky. The government intervened and worth a lot more money but it didnt take any ingenuity for carnival to rebound from the lows they were saved by the fed no, i want to talk about companies that have shown they can survive and thrive during this pandemic so no signs of abating in the u. S if anything, its getting worse. The pandemic is gets work because millions of people refuse to take the virus seriously. They wouldnt wear the mask. They even subjected to some of the guys on capitol hill today they wouldnted a ve ed ed edal distancing guidelines so there are breakouts in the south and west first, sometimes you got to go with the obvious zoom video there were many other outfits that could have become the leading Video Conferencing play, cisco and ring central with the partnership and it was zoom that brought us together under the leadership of the ceo. When you think about it, microsoft could have done this, apple, google, right incredible to me that this newly Public Company is so engaged in the new work from home economy and play at home economy zoom is fund mentally changed the way we interact and the world will never be the same, even if we get a vaccine it wasnt somebody else. It was zoom. Second is paypal those guys were lucky enough to be the online merchant process of choice for Many Companies going into the pandemic and paypal is the bank for small to medium sized businesses around the world. They have taken the payments industry by storm. Paypal shows you dont need brick and mortar banks i never thought wed go from cash to plastic to digital but the pandemic threw more fuel on the fire and thats where we are. The ceo is making that vision a reality. Third is apple now, this was still one more quarter where the ceo leadership dazzled despite tensions and the closure of the retail network. We werent expecting much from the iphone 11, another update who cares but they love it they love the air pods the new watch is fantastic no, im not going to help you, siri its icing on the cake the real core of the story is apples rapidly growing Service Revenue stream what about the luck . Were not supposed to touch each other, cook rolled out contactless credit cards the app store is worth billions. Apple likely owns its customers for life ill keep pushing happen l to gi apple to give you the number you know how i feel about this one . Own it dont trade it everyone else says trade it, dont own it theyre wrong. Tesla is a 200 billion company. How is that . Simple tesla is a technology company. Tesla is approaching the valuation of toyota. I think its a crummy comparison tesla is not a toyota. Musks cars sell everywhere without advertising. They will love it in china and germany. Once it became clear musk could raise as much money needed to expand, the stock was off to the races and hasnt looked back since. Fifth, amazon had a good quarter but i like the rise of shopfy for small to medium size businesses that want to operate online they were e commerce enabler by the end they were recognized as a pillar of Digital Infrastructure see that fedex number tonight . I bet shopfy will create more millionaires than any company in america and they are canadian. Sixth, we have others that empower Small Business vastly, a lot of people crazy about that one ado adobe, wicks, they help move things online and look like big operators. Same with etsy speaking of retail, my god, is this lululemons moment or not thats what you wear at home and gives you a piece of the home fitness base less than rival peloton. Remember, these winners are about luck and ingenuity lulu was smart eighth, we have all sorts of powerful themes tied to the stay at home economy from data to Artificial Intelligence to gaming one Company Gives youall these end markets. Vida i love this one. The ceo, hes out of this world. Hes an engineer hes a builder hes a leader. Hes an artist this guy say modern davinchi you want luck and ingenuity . Net flex we get more big screens and faster broad band and every form of entertainment shuts down, the world turns to netflix this has a lot of doubters thanks to the streaming services but the company is in a place to raise prices with little resistance finally, i want to make this point. We cannot forget regeneron they have an amazing franchise and treatment out there. Fantastic portfolio but they are leading the way but they dont promote it, i am, the way in the fight against the pandemic a lot of companies are coming out with different stuff focus on these guys. They have a key part of an antibody cocktail that will defeat the surge and charge an arm and a leg for it i think they have the inside track. You should know that the ceo and chief sicientists are genius the stock was at five and now its 623 bottom line, there are a ton of other wayneinners but they grab the moment by the horns and rode the bull to greatness. And with covid spreading like wildfire, sadly, i bet these keep climbing or i wouldnt have picked them. Steve in maryland, steve caller jim, thank you for taking my call im a 24yearold that called last week. Thank you for that i want to keep investing smart and strong stocks. This stock has been going up and down every week and my concern is their cancellations keep piling up on the 737 max planes. I had one share when the market crashed, should i add more ill calling about boeing . Phil lebeau said you cant count on that Norwegian Air one. Boeing at this level is a goodbye for the negoo good buy for the next 18 months. Some people need it for the next 18 minutes not right for that betsey in california, bet si. Caller hey, jimmy. You taught me how to fish. If you just handed me the fish, i wouldnt have learned to do the homework. Thats the goal. Caller god bless you. Thank you. Caller let me tell you about this company i found i took to heart what you said about sustainable energy, okay unfortunately, most of the companies i found didnt make any money which is no good for me okay now, i did find one. Its a billion dollars a year, which is small, okay, and its true theyre only up 58. 74 for this year but then again, were only in half a year, right uhhuh. Caller and their total return just so you know is 85. 4 for one year, three years 266. 1, five years 247. 7 but that isnt the best part. The best part is that the stuff you taught me pays off because they have only a 1. 1 peg. Really . Caller yeah. The pe is 28. 18 but the growth rate is 25. This is what im looking for. This is great. Caller one more thing real quick. Its going to please the rs and the gs, okay they just got the Environment Energy leader award for the top project for the marine base in paris island they had designed last year. Now theyre in oregon. A. G. State and theyre converting all of the light street lamps to energy sustainable. Interesting idea. Lets hear what it is. Reporter the name of the company is emeresco. Huh bets betsey, i dont know it. Betsey just did a segment. That was a great segment lets take some questions. No, i got to look into it. You always want to know every stock, a billiondollar stock. I like everything she said and thats the stock were looking for. Shes saying the valuation versus the growth rate is very inexpensive and shes right about that look, i learned from our viewers every single night i just learned a ton from betsey about a company doing good things in oregon by the way which i want to learn more about. We had many, many winners this quarter. Most were bounce back candidates these companies grabbed this moment by the horns. On mad money tonight with more people eating at home could the rise continue . Ill sit down with the ceo then as the covid crisis continues, dont expect to return to business as usual. Ill explain why im talking about the explosion of cell towers from the ceo of one of my favorites crown castle stay with cramer announcer dont miss a second of mad money. Follow at jim cramer on twitter. Have a question . Tweet cramer mad tweets send jim an email at cnbc. Com or give us a call at 800743cnbc missomhi setng head to madmoney. Cnbc. Com. I got an oriole here. Eh. Common bird. Ooh look over here something much better. There it is. Peacock, included with xfinity x1. Remarkable. Fascinating. Very. It streams tons of your favorite shows and movies, plus the latest in sports news and. Huh run the newest streaming app has landed on xfinity x1. Now thats. Simple. Easy. Awesome. Xfinity x1 just got even better with peacock premium included at no additional cost. No strings attached. Just say peacock into your voice remote to start watching today. With covid cases spiking, what worked the last time the virus got out of control there were a ton of stocks that roared high in april and wall street fell in love with the recovery take the package food power house. This stock gave huge gains in april as part of the stockpiling trade but then investors started to assume it was one off and gravitated away from the supermarket. Big mistake which is why i recommend the stock all along. This morning they reported Quarterly Results and numbers were spectacular talking about a nine cent earnings beat off the 66 cent basis. Thats extraordinary even better, business remains strong through june. Management for the next quarter. In other words, the covid bump was not one off. The restaurants are half capacity and that business is going to Companies Like conagra. Lets check in with sean connolly, the president and ceo of conagra brands. Pros spegprospects hitting the 52week high. Good to be with you. I joke about a certain brand. I wont joke about it anymore. Chef boy r dee up 622 h how is that possible . Its a great staple and great value and when people went into shelter in place, they needed great quantity at good vaul and chef boyardee was there. I could have picked heinz for my tomato sauce or armor and here is one, duncan heinz. We said why, why, why . I see why. Thats an incredible number. It is one of the really interesting things this quarter, jim, is people started consuming more at home they rediscovered things that they forgot they used to love. Cooking, being together with their family, eating together and things like baking together, which is where duncan heinz came in and had a blockbuster quarter. One of my colleagues said to me, you know, he watches hes on ticktock. Candidly, sean, im not on ticktock like i must be. People sticking at home exploring the pantry there a rise of armature chefs who use cakedo cookies. You saw the data. It remarkable. Most of our new users that we gained in this covid lockdown are millennials number one followed by again x. They love convenience. Duncan heinz is example of a product thats super taste they and convenient for them sheltering in place. Sadly, they are also struggling for jobs. When you look for ajo job, a lo of your brands do hit the sweet spot. Thats true one of the things that consumers are rediscovering is the superior Value Proposition of eating and preparing foods at home were conditioned to eat out, no offense to your restaurant, jim, but now consumers are strained financially and recognizing that not only is it a great price point they can get eating at home but the food quality is far superior to what they recall and they are buying more of it. Let me tell you about the restaurant versus you. I genuinely believe there is a big change i think there is a frugal nature of what is after this. And that people really would like to cook at home rather than go out in part because they can buy beer and take it home. They can watch their big screen tvs and they can eat some very good food that frankly, marie callender, banquet, healthy choice, things younger people respect, like. Absolutely. You know, its really remarkable because they are recognizing its a great Value Proposition, but it is convenient and the truth is, there is concern around safety and that kept them at home and financial strain both of those conspired to really help a lot of package Food Companies and our company in particular had a good quarter and we hope it persists. I didnt necessarily when i first talked with you believe in the frozen food concept but you do point out in your conference call, try to find a freezer at best buy or home depot when you get a freezer, you put conagra products in it. You do. Ive been preaching for five years now that frozen food is the perfect food form for todays consumers. If you can dream it, we can freeze it. Consumers used to think of frozen food as low quality but were producing superior restaurant quality food thats super easy to prepare and super fast to make at a great value. Consumers discovered that in this covid lockdown and didnt have enough freezer space. They went to best buy or home depot and dialled up amazon and ordered a freezer. You addressed on june 17, the mrs. Butterworth bottle in a brand review it intended to invoke the image of a loving grandmother but you stand in solidarity with your black and brown communities. I know i respect this. Youre out front not like someone said sean, hes a bad guy but what will review look like . Because frankly, i like the stuff and i grabbed the bottle its kind of like i could grab log cabin and this its iconic but its iconic but its wrong. Well, to some degree, jim, perception is reality. Mrs. Butterworth was really architected to resummable a loving grandmother but we can understand how some people may view it differently and find offensive. Were in the listening mode. We want to understand what a diverse range of consumers and employees think and do what is right. Its really part of a bigger initiative, jim, to really come out of all the horrific things youve seen in society over the last couple months, the horrific violence and racial injustice. We and other companies have to up our game with diversity and inclusion and thats listening and being more aware and more sensitive and thats really what this mrs. Butters worth review is about. How do you keep it so it doesnt go back to the way it was . Ive known you for a long time youre a guy i look toward to say its not one off, that its not something that happened and then were onto the next. Well, that is the key right now, jim i see a ground swell of energy to not lose momentum against this cause one of the things we value as a company is results were really not big on suggesting were going to do all these things we want to focus on the plan and deliver results because the proof will be in the pudding and there is a real unanimity so if you look at the track record, when we put our mind to something and say well make progress in this area and do it together, we get it done. You certainly do. Thats why weve been sticking with you stocks all the way back its been terrific your guidance is consecutive but youre a conservative guy. Thats sean connolly, the president and ceo of conagra brands. Thanks. The stock is cheap and doing the right thing. Mad money is back after the break. You might not know from the action but there is a whole sale revolution in the sector the big got bigger and the small get enoughsnuffed out. Without help from the government there is Small Businesses that will wither and die unless we get a vaccine much sooner than expected, something not discu discussed enough on capitol hill today. Both are doing a great job and lets talk restaurants these are institutions with the best of times running on very little money and many have gotten a boost in the paycheck protection loans if you dont fire employees. That the about to end and we dont have anything to replace it what happens then . Most will give it a go but at the end its going to be impossible for them to pay their bills unless its a labor of love, two places i own and coown in brooklyn i have skin in the game i know the industry is in trouble small operators cant do social distance and takeout and delivery taking chairs and taking names and money by uber eats if it has a drivethrough, its safe i worry the only sitdown places that can survive is enough space to implement social distance without losing a lot of money. Everyone else danger dont get me wrong im not complaining about social distancing what we dont obey rules, we get horrifying outbreaks like the crowded bars of texas, arizona and florida. Its an impossible situation you got to follow the rules but the rules mean you cant make money. The cost stays the same. Even though you can only seat half as many people and fewer at the bar which is a real profit generator, same cost, half the rev unless we get another Small Business rescue package, the future seems unappetizing. Well only have a fraction of the restaurants and bars that existed before the pandemic. The state of affairs for consumers and 13 million working in the industry. The federal government needs to take another crack without major intervention, theyre toast. Same goes for huge chunk of retail we know many of these stores are trying to reinvent themselves but only a few of them can make this pivot the Big Box Stores that sell groceries, walmart, costco, target are essential services. Everyone else is not essential says see you later can the rest of retail bounce back like williamssonoma . Your options are withered. Maybe this is inevitable amazon and Big Box Stores are taking over the world but the rest of retail employs millions of people. The economy is in big trouble. There is a whole category of businesses that cant meet new restrictions until we get a vaccine. Here is one. Health clubs it favors big change because it cost a fortune to covid proof your facilities and lose restaurants around sporting events i dont know if movie theaters can survive if they cant pack the house in the big openings. There is an entire echo system there is amazon, one of the biggest winners of the shelter in place economy unless you need something immediately and you just ordered from amazon going to a drugstore and everyone is stuck at home. We were already headed in this direction. Pandemic was years of digit digitalizati digitalization put it together and life wont be the same. The liveliness and anything youre used to in the city they could lose millions more jobs that the why the government needs to take action to save the smaller restaurants and retailers or we end up with a future where every industry is dominated by a hand full of business biusinesses, chipotle down. Booyah jim. Booyah, daniel. Caller thank you and your amazing team for all youve done this past few months you really helps us out a lot. You dont know the half of it its been fabulous what can i do . Caller last week you thad th ceo of winnie and there is an increase of firsttime buyers of recreational vehicles and renters and i noticed recently in upstate new york im seeing a lot more rvs out there and rentals so my question is, not specifically with winnie but i was looking at skyline champion at alternative factor built housing. It funny you mention its l cart which is where thor is you know, i think that you have got this is one of those where i think you got thor and winnie and you really dont need anybody else and sometimes what i like to do is i dont like to over think it. Got two good ones. Pick one steve in illinois, steve caller hey, booyah jimmy chill. Shaking. Caller im a first time caller my wife and i are huge fans. We watch your show every day. Thank you. Caller my question is we own these shares of chewy. Its a stay at home stock so were confused why that is maybe you can help us out. Were at the period where people say you got to make money and they are interested in growing. Way fair was only interested in growing and finally just kind of exploded chew w chewy has to do the same they have the huge revenue break o out thats much bigger that may be difficult for them look at fedex, they have a huge revenue breakout and earnings breakout that allows the stock up 18. Ch chewy need the one or the other. I like those guys. They can come on any time they want there is a whole sale revolution the government needs to take action again to save the little guys because its overwhelmingly without a vaccine. Much more mad money. How is the Company Positioning itself as a mobile demand for 5 g being brought to the forefr t forefront . Great plan the one thing thats all the winners in this market have in common good management. Ill sit down with one of the best and my ex neighbor dave cody who wrote the book on it literally and it is chillingly good all your calls, rapid fire, tonights edition of the lightning round. Stay with cramer you cant predict the future. But a resilient business can be ready for it. A Digital Foundation from vmware helps you redefine whats possible. Now. From the hospital shifting to remote patient care in just 48 hours. To the university moving hundreds of apps quickly to the cloud. Or the City Government Going Digital to keep Critical Services running. You are creating the future on the fly. And we are helping you do it. Vmware. Realize whats possible. Did you know Liberty Mutual customizes your Car Insurance tada so you only pay for what you need . Given my unique lifestyle, thatd be perfect let me grab a pen and some paper. Know what . Im gonna switch now. Just need my desk. My chair. And my phone. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Now that we have a huge outbreak in the sun belt, we need to see what keeps working when states shut down economies again. Like i told you, when we reviewed the covid19 index, many stay at home stocks had epic runs. We come back to the blue chip names. Take Crown Castle International that owns tens of thousands of cell phone towers across the country. They are the only purely domestic cell phone tower. You can add to the same tower and each additional one is pure profit these days Wireless Services ney even better, the stock has a bountiful dividend and really cheap. Do not take it from my lets dig deeper with jay brown the president and ceo of Crown Castle International. Thanks for having me on appreciate the invitation. Thank you, jay. I thought you were in one great business, not a lot of competitors, completely necessary. You have a tower you can keep adding other antenna right to it. Is it as good as i think thats a great business one of the best Business Models ive ever seen we were so well positioned for where the world is going you think about what happened over the last century, interstates and railroads that drove Economic Growth across the country and now here we sit at the start of the 21st century in the deployment of 5 g and our assets tower five and small cells provide the infrastruct e infrastructure. A lot of people say you cant own crown castle because you got tmobile merging with sprint and they will decommission the towers and there wont be any business for crown castle. Jim, were super excited what well be able to do with tmobile they are on the cusp of a 5 g network in the u. S. With verizon and at t all three have talked about the significant investment that they are going to need to make 5 g happen what that means for our business is as they invest in their network, they lease our assets from us and that drives our revenue and margins and the returns on the capital. Now, dave and i often discuss in the morning whats dish really going to do they have committed to a big buildout and worthwhile given the spectrum they have. They have committed to a large nationwide buildout and that will be great for both assets, towers and fiber we look to see big things from them starting in 2021. I think it gives us an opportunity for additional and enhanced growth across all of our assets as they build up the network. Jay, i think ive been reading about you guys you have a lot of situations where there is room for a third you have there will be two antennas, you put a third on and whats the additional cost of adding a third the cost for adding additional tenants is very very low. We make a significant investment up front and it requires a little capitol but most of the capitol is actually invested initially. Over the last ten years, weve invested 30 billion here in the u. S. About half of that is gone into towers and about half has gone into fiber and small cells we think weve done a good job of balancing the opportunity to deliver near term returns to our shareholders and at the same time set ourselves up for the long term growth that is to come from 5 g. Names of tmaintenance of thec built . Little to known we dont have to change the carpet or anything maintenance is low. The ceo said you have to cut the grass periodically. We try to keep our sites tidety and take care of them most of the capital goes up front. This is kind of the benefit of the shared model we offer to the wireless carrier we offer them an opportunity to reduce the buildout cost by 50 . Its much cheaper to use our shared infrastructure than each to build their own and the opportunity thats coming here with 5 g is more sharing and the ability to deploy 5 g across all three of the big carriers today and even dish to come. We are providing a really Cost Effective way for them to build out their network. A lot of companies have been suspended dividends, a lot have been cutting dividends i would think yours has a reliable and steady source of distributions. Yeah, our company has done really well throughout covid we continued to grow revenues and margins as i talked about on the First Quarter call each october, we go ahead and give guidance for the next year and i would expect in october of this year well be giving our guidance for 2021. And 78 per year. That comes from organic growth in the business and while were able to deliver that short term return to investors, were also focussed on the long term so the investments that were may recollecting around small cells and fiber enable us to enhance that growth and then lengthen the runway of the growth over a long period of time. Okay. One last question, ive been saying that a lot of Companies Got to get with the program, that you cant ignore what is going on and what happened in minneapolis may be the most important change for corporate ameri america. You have committed to giving money, too why did you do it and how did you pick your charity . Well, part of what we did and the way i think about my role, its not only stewarding other peoples capital you have investors that follow your show based on recommendations you make and im a stewart of some portion of that capital obviously but also a stewart of the system under which that works for everyone. When you look across our world today and see some of the inequalities, thats bad for the system our system is built on equal opportunity for all. Its like running a race everybody starts when the gun goes off and we win based on our merits and so the contribution that we made to the United Negro College fund was an opportunity to support and anticipate and ensure there say level playing field. Its not us versus them. Its about we. I think the community, our Black Brothers and sisters across the country have given us a great gift any feedback we get as leaders is a gift and the feedback they are giving us is the opportunities arent equal for all. If we win, the opportunities need to be equal for all and our contribution is part of being that solution of ensuring there is equal opportunities. Thats important. Im trying to get all executives to focus on what is a terrible thing in our country that can still be changed thank you jay brown. President and ceo of crown castle, cci, a stock we like very much and how about the fact he can offer actual forecast out a year and dividends predicta e predictable. Mad money is back after the break. Here is what my friend scott wapner has tonight. Announcer are Fitness Centers essential . Meet the arizona gym owner defying the state to prove his point. Plus, the delaware bar that went from hot spot to testing center. Is the return of pro sports a dream right now. All tonight at 7 00 p. M. With scott wapner some see a Grilled Cheese sandwich and ask, why . I see a new kitchen with a grill and ask, why not . I really need to start adding less to cart and more to savings. Sitting on this couch so long made me want to make some changes. Starting with this couch. Yeah, i need a house with a different view. And this is the bank that will help you do it all. Because at u. S. Bank, our people are dedicated to turning your new inspiration into your next pursuit. To turning your new inspiration there are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. It is time, it is time for the lightening round buy, buy, buy, sell, sell, sell. And then the lighting round is over are you ready ski daddy. Josh in new york, josh caller booyah jimmy big fan of your show ive been watching since i was 15, which was 15 years ago i want to give a quick shoutout to miami and toronto my question is burke shire math though. Cocacola okay, wells fargo big disappointment its not setting up as being a great time for berkshire i dont want to bet against the great one by thats not a great portfolio. He cares a lot about taxes and therefore hes not going to make a change lets go to ron in new york, ron . Caller booyah from staten island. All right caller jim, im frustrated with this stock and i need the professor to tell me to keep or dump sirus xm. People are buying cars again and used cars. Thats the delta on that i think youre all right seth in massachusetts, seth . Caller hey, jim. Shoutout to my buddy on this one. What are your thoughts on nokia . My action alerts plus team said listen, maybe we dust it off and look again nokia has a lot coming i like your idea leeann in florida. Caller hi, how are you great how are you . Caller great beyond meat 145 we dont care where you got in but where its going. Beyond is cutting price to take share. They have meat on the ropes here now i know a lot of people feel the service theme will help them thats nonsense. Hold on and buy some a couple points later ed in connecticut. Caller jim bo. Im calling you about we like these guys. 5 g play as good as marvel . No marvel up a buck 50. As good as sky Work Solutions . No lets go to john in tennessee, john caller booyah jim thanks for taking my call. Im a first time caller. The call on your more than 25 years of accumulated market wins, what do you think about ford since they partnered with volkswagon and looking to create, design and develop ev cars im a Balance Sheet guy, john they got a bad one im not interested in buying a 6 stock if the Balance Sheet behind it is not is 6 worthy so to speak. I have to say no to that justin in massachusetts, justin. Caller booyah mr. Cramer. Thanks for having me on. Thank you. Caller my question for you is what are your outlooks on the stock considering the covid19 vaccine was selected by operation warp speed this is a robin hood favorite 93 million shares traded put it there you know, look, how about this this is a huge long shot and i know a lot of people are saying its going to double here is what i want to tell you. The stock today, they could run this as 16 just on hold. So i dont want anyone to say i kept you out of it its a long shot long shot sometimes come in. I used to be a big ponys guy but long shots dont usually come in. I understand people want to buy it today flip it to somebody else tomorrow at ten. Flip it to the next guy at 12. Thats not my style. I want to be in the best possible and thats not the best possible lets go to wendy in missouri, wendy . Caller booyah, jim. How are you doing . Good. How about you, wendy caller doing great just running in between rain drops. I want to get an idea. Ive only been investing for a few months and i like to get your opinion on anheuserbusch. I dont think its good its down 40 . Its not what i want id rather see you in pepsi and you get the snacks and drinks. It a better stock. Consolation tomorrow let see what will happen there that, ladies and gentlemen, is the conclusion of the lightning round. Announcer the lightning round is sponsored by t. D. Ameritrade which companies have been able to thrive great management what does it look like whats a yardstick for execution . This is a situation you need to learn from the best. It doesnt get better than dave cody who led for 16 years taking the market from 20 billion to 120 billion the best industrial ceo. Its called winning now and winning later winning in the short term and investing in the long term. This is his first stop on the tour great timing exactly kind of message people need to hear during this crisis. So lets take a closer look with dave cody, the hall of fame former ceo of honeywell. Congratulations and eloquent wi welcome back to mad money. I love your energy and your support for me and honeywell it been awesome. Deserving you hit it out of the park so explain to people who dont understand there is a notion that you got to make the quarter and that means you cant make the year or two year or five year or you think big and miss the quarter and people think that they are mutually exclusive. They are not. You are absolutely right. I maintained that they are mutually reinforcing, not mutually exclusive too often, making the quarter and the need to make the quarter is an excuse for not doing what you need to for the long term. Its one of the reasons that first chapter in the book is entitled ban niching intellectual laziness because it requires a different mind set. And the way ive described it is success in business is always about achieving two seemingly conflicting things at the same time do you want low inventory or good product delivery . Do you want high margins and prices or big volumes . Do you want people closest to the action empowered so you get quick decisions or good control so nothing bad happens do you want good short tomorrow results or good long term results. The answer is always you want both. Both. So the trick to success is figuring out how to achieve both and we use honeywell as an example how we managed to achieve that while there and how my successor continues to do it. One of the things i find in the book is and its not over arching but to do what you are asking requires incredible hours. It requires far more work than most ceos do but also involves things like where you literally have to give time to yourself or surprise other divisions how are you able to i mean, most people shouldnt be ceos, should they, dave . Well, i guess i cant opine on, say, who they all are because i dont know them all. I know some that are very good and some that are, well, there is a state of distribution to everything, lets say. But at the end of the day, it does require an intensity, and an intensity about your understanding your businesses, driving the hell out of your processes, making sure you have absolutely the best people it took an ined krcredible amouf time in the beginning. It was 70, 80 hours a week for the first five years i never did anything outside honey well during those first five years spent five to 600 hours a year on the plane traveling that the like 23 days a year, 24 hours a day. But at the same time, set aside those x days you talked about and too often i think leaders become victims of their calendar and stuff just gets on there and as a result of that, you dont allocate time to focus and to think about the things you want to and need to and donald rumsfeld, love him or hate him had this line i thought was tremendous that said beware of letting the urgent get in the way of the important by setting aside x days, you se aside the time to think to just spend time kind of considering, letting your mind wonder, thinking about various things about the company people, businesses, geographies, whenever it is mega whatever it is you want to focus on but it also allows you to do stuff like make a surprise visit to a plant, which i would do and no one including my executive assistant sometimes knew that i was going to a plant then you get to see everything just the way it actually is in operation. No fresh paint no prepared speeches you just talk to people and find out. Dave, you mentioned that what you want to do is you want a successor in the book and do that and you talk about the need to be rigorous and the need to ditch the losers dave, we had darrius on yesterday. I always liked the Global Distribution business. I like the Transportation Business with garrett. Were they losers or just things that dont fit into his view of a Software Related honeywell no, darrius and i had a terrific conversation when he became the coo and we were talking about the value of the company and i said look, weve been able to go from 20 to 120. The chances of going from 120 to 600 during a similar time frame to generate the same kind of returns, very difficult to do. And it has nothing to do with darrius capability because i think the world of the guy hes doing a fantastic job and im very supportive. You run into the numbers things get too big to generate those kinds of returns so he embarked on a portfolio analysis to say as i look at the future, where do i really want to be and where do i want to concentrate and the stuff that we spun off which i was fully in favor of is not that they were bad businesses, they were very Good Businesses, both of them but at the end of the day in terms of where he wanted to take the company in order to generate the same kinds of returns, it didnt fit so i was completely supportive of what he was doing, still am. The book is great youre very funny, too your wife said the book is tough look at business but if you want to know how to be a business person, this is the book to read dave cody author of winning now, winning later. Do yaw waou want to be a Good Business person . Get this do you have the time and rigor if you dont, dont be a ceo stick with cramer. A new cnbc documentary takes a deep look how covid19 rocked the nations Food Supply Chain now all the players from farmers and manufactures scrambled to help it recover. Dont milss the premiere of supermarket shock, crisis in americas food supply tonight at 10 00 p. M. Eastern and pacific great quarter, one time off trying to get a lot of ppe out of china but some of it is great cost control and yes, i hope they are back because they are really, really good guys and United Parcel pulled along with it, too i like to say there is always a bull market somewhere and i promise to find it here for you right here on mad money. Im jim cramer and i will see you tomorrow next watch or listen live on the cnbc app. Good evening im scott wapner on day 184 of the coronavirus crisisand, tonight, the nations top doctor with an alarming warning about the virus. I would not be surprised if we go up to 100,000 a day. The nations top doctor urging americans to do more to stop the virus were going in the wrong direction. Plus, is sports a pipe dream . Reports show three more players have tested positive one nba owner joins us live tonight. It is a new discove