dow only declining three points, s&p advancing 1.6% i totally understand why when employment, the primary indicator of economic strength, is at its best level in four decades. but so many other indicators are slipping, everything from housing to autos, retail sales and oil. in fact, someone asked me what i thought of the market last night after a live audience show i ended up saying i don't know if there is a market to care about now. there's just pronounced sectors and rotations into and out of them that happen at the flick of a switch this week the health care sector ral yesterday. everything else took a dive. as well as some fabulous action in technology. still, the debate over the economy will rage, because the fed is in tightening mode, trying to get back to normal rate keeping that's fine if you're looking at employment numbers but not so hot if you're looking at anything else maybe we need a little life support, which is why we start on monday with the durable goods orders if we get a stronger number, maybe the debate thatday will be resolved by those that think the economy can handle the rate hikes and health care can take a breather, because good durables mean higher interest rates, which the banks need also monday morning, we get results from a company i don't usually talk about i mention it only because of what we call around here the trump trade. this steel company, like all the steel companies in the u.s., needs protection from predatory foreign trade practices. i think the trump administration is going to provide it with an executive order. all the steel's war today in anticipation of this ruling. trump ran on preserving the steel industry i think he means business. tuesday, carton reports. and so far this company hasn't seen its business get creamed by the stay at home economy i talk about. i think the o.j. is truly a bargain. those of us who like olive garden always feel we beat them, meaning we get more food for less money and maybe even more than it costs them to prepare. why is it so hard for others to realize if you're going to have people stay at the restaurant rather than take the food out, you've got to let them have seconds for free when i recommended k.w. homes last year at 14, people thought i was out of hi mind, but i was right about kbh. now the stocks are $22 handily above $14. i figured, yeah, exactly, the analysts will get around to upgrau upgrading and say what a gem the real estate was worth more than the whole company when it was back in the means. we hear from general mills on wednesday, and by this point you know what we're getting used to? disappointment i don't see how the company can deliver enough revenue growth to satisfy wall street. it tried to reinvent itself, but it hasn't worked general mills r s values its std independence i just don't think a deal is in the cards. paycheck also reports wednesday morning and the stock hasn't been able to rally this year the main drivers are job growth, check. interest rates, check, and flow of money they take in from clients before they cut the checks to the workers, and we know what also we're going to get, complicated tax returns that's another driver. employment is strong, rates are rising i don't know i think i would stay in it plus, it's got that 3% yield the analysts do dislike it for the most part. i like it. wednesday, get this. this is important. cisco has an analyst meeting it could be a big deal since that last tepid quartd er investors have favored much faster growth of cloud maybe cisco announces something that shows a brighter growth path otherwise, i bet it will continue to set out this multimonth tech rally. this is an important meeting wednesday after the closing, we find out the results of the federal reserve's comprehensive capital analysis and review, and these findings are far more important than the bank stress test results we got. seecar will be about green lighting banks to return more capital. the hope is the trump regime's desire for deregulation will be reflected and you'll see some buybacks that's what i expect from citi group, which you can follow along. thursday, gigantic first we still have a consolation brand, which i raved about last night i think the growth is underestimated on wall street, because analysts don't seem to understand how the company buys great brands, get this, they were all brilliant acquisitions at better prices after the close we heard from nike there are people on the street claiming this is the last best chance to get into the stock of nike before it next moves up others are saying here comes another kissdisappointment me, i despise battle grounds and nike is the wall street equivalent of the somme. then there's micron. the problem -- management needs to raise the forecast enough to convince people the business hasn't reached saturation. this is a boom/bust situation, supply and demand. some analysts will downgrade no matter what the quarter. so don't freak out if they downgrade, that's what they want to do. this boom has lasted too long for some and friday brings the end of the quarter. many people will be trying to ring the register like the last days of so many other recent quarters last days have been bad. my advice, if you're a trader, anticipate this decline and do some sell thing day to get ahead of the scalpers this day but if you're an investor, keep your powder dry here and come in friday afternoon and do some buys this market lives on the edge at all times, because it no longer trades in unison it's made up of submarkets so stay in the bull markets, tech and health care, and avoid the bears like oil and retail, and you'll be just fine, thank you. keith in texas, keith! >> caller: jim, this is keith. but you can call me the animal from san antonio we love what you do. >> i like that what's up? >> caller: last week, you had patterson uti's crow oeo >> you know, they are the house of pain right now. i like these guys so much. they're going to come out fine, but that does not mean you're going to make a lot of money in the stock. down 31% i would not recommend selling the stock at this level. but if you buy some at $52, you might see some at $48 again and you'll get mad at me if you bought at $52. richard in california. richard. >> caller: hey, jim, thanks for taking my call so my stock's brands -- >> i'm sorry -- >> caller: i went against your golden rule and turned it into a long-term play should i dump at this point? >> do you dump a stock that you think is still going to go lower, even though it's down 60%? you know what? i think the risk-reward here is real bad, sir. this is a company in periappare. i don't like apparel ron in indiana, ron? >> caller: hey, man, we love your show. i was going to say, my question is this -- because of the population in china, should i hop back in with -- [ inaudible >> i have to tell you, the stock just went up six straight points that's too much for me if it goes down two, i would buy it but buy half and hope it goes back under $830 and then buy the rest this market is made up of little markets. on "mad money" tonight, stocks took a bath when it reported i'm browsing the aisles to find out if the merchandise is damaged. and can the fema health capitalize on the new registration and i'm taking a look at the health of the american consumer, with this company that got its insights like no other so stick with cramer >> don't miss a second of "mad money. follow on twitter. have a question? tweet cramer #madtweets. or send an e-mail to madmoney.cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. your insurance company won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™. liberty mutual insurance. bed, bath, and beyond's stock took a bath today, and it's beyond hope because of, you guessed it, amazon last night, the company delivered a shockingly bad report not only did it miss the earnings estimate by the side of a barn, coming in at 53 cents when the analysts were looking for 66 it posted a negative 2% same store sales figure no wonder its stock fell more than $4. yet it's a crisis for this once high growth retailer, because they have a pricing problem. the more it beefs up its online business, the worse it does. as they get better online, they're losing foot traffic, and that's the lion's share of the business so even though they've been able to sustain very healthy growth in the digital world, when the base deteriorates, that's a big hit. they're offering free shipping for every purchase above $29 to compete with amazon. but all that does is make it solve the purchases under $29 and the company buys at amazon so it's catch 22 they said they're such a better company today than they were three or five years ago. so you would think that would correlate with being more profit but they said "the competitive landscape is different and the profitability and the margins people operate under, all these things are a reality." look, i'm not picking on bed, bath, and beyond but they can't seem to win against amazon it's tough situation, because like nordstrom, every store in his chain is profitable. nordstrom is solving the problem by going private i thought bed, bath might too, because the company bought back so much stock. but the stock peaked at over $80 in 2014. now the stock is under $30, meaning they repurchased 62 million shares at higher prices. they said if they could have for seen what thestock was going t do, we would have acted differently. no kidding they might as well stuck the money in a fireplace what happens now i think the stock has to start reflecting this new world even more than it has it still reflecting too much of the old world. unless they can develop something new and different. will the pendulum swing too far? it always does but has it yet i don't think so the company is still worth $4.2 billion and the stock only yields 2%. my advice, if you like it, shop there. it's a heck of a lot less risky than owning the stock. and don't forget your coupons. much more "mad money" ahead, including my take on sena health and with news that the fed is hiking rates, are you running away don't make a move. and tropical storm cindy is coming ashore. are the power outages popping up giving the company a wakeup call stick with cramer. ♪ dynamic performance, so you can own the road. track-tuned handling, so you can conquer corners. aggressive-styling, so you can break away from everyone else. experience the exhilaration of the bold lexus is. experience amazing. what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley sometimes activists investorks be a huge help to shareholders consider the case of athena health it's coming to the cloud based software platform to coordinate care and track where their money is coming from athena has a strange track record when the stocks seem poised to break out, the company will find some way to stumble and go back to the drawing board happened at the beginning of the year last year athena hit a remarkable milestone $1 billion in annual revenue people started wondering if the company had gotten its act together, but then the stock plunged more than 20% in a single day that's where elliott management comes in, the hedge fund run by paul singer. on may 18, elliott announced it owned 9.2% of athena's health shares given this firm has had a lot of successes in the past, the stock climbed 22% that same day. since then, the stock has gained 37%. now we have to ask what's next let's start is what was happening at athena before elliott got involved one of the reasons the stock's performances has been so choppy is athena has been focused to profitability. for the first five years from 2007 to 2012, the company posted a remarkable sales growth, mid 30s. then it spiked up to 41% but few companies can keep growing at the same numbers. however, as revenue growth sloes, investors need to see profitability improve. this is where athena failed to deliver. from 2012 to 2016, the company's gross margin declined from 60% to 50% dessecelerating sales are a suboptimal combination, people, and that's not the only factor complicating athena's story. let's get personal as anybody who watches cnbc knows, athena's bombastic ceo, jonathan bush, let's just say he's quite a character when your company is trying to disrupt the way the health care industry operates, maybe it helps to be a grandstander it gets your nameout there it helps sell your product this is some john leisure does well at t-mobile but jonathan bush is no john leisure. their holder s got upset with te ceo in 2015 aft when asked if he was frustrated by the short sellers, bush replied, i'm already rich. who cares? that kind of attitude is not appreciated by share holders, especially when the stock loses 30%. the real problem is this made some boneheaded strategic moves. athena's expansion beyond doctor's offices into hospitals and care facilities, it's been okay, not spectacular. coming into 2017, there was som optimism, because the stocks seemed cheaper and margins were rising but in january, the stock folded 14%. when the company reported in april, the numbers were worse, the stock plunged 22%. this is where elliott management stepped in last night the firm announced its position and the stock caught fire. the truth is, it has the best technology in health care, and they've already embraced the cloud. plus, it's seen as a good business and their whole system generates enormous quantities of data about the cot of health cast ofn this country they have a repository of wisdom so what is elliott doing here. the firm said they "believed that there are numerous operational and strategic opportunities to maximize value. and they will be seeking to engage in a dialogue with the board of directors regarding these matters. i interpret that as better manager or put it up for sale. eaither is a win we've seen a lot of situations like this where a founder or another strong personality capitulates to the activists and agrees to sell the business. it so i wouldn't be shocked if elliott called for a change and it results in a sale but the biggest reason is athena might be easier to be put up for sale, is the ownership is concentrated among a few mutual managers elliott doesn't need to convince thousands. but athena health has reported two bad quarters in a row, now the stock is two points away from the 2016 highs. so let me give you the bottom line here. i think elliott management can make a killing if everything goes right but i think it would be best if you waited for a decline before you get involved, because i do believe that the easy money has already been made. let's speak to larry in florida. larry! >> caller: boo-yah, jim. >> boo-yah >> caller: i just want to say one thing, i know you hear it a lot of times but god bless you and your staff over this for helping us little people the question i have for you, one of your favorite stocks used to be bristol-myers i bought it in 1960 at $2.09 and had a little bit of a problem with one of the cancer drugs and came down in the '70s down to the 50s. i know you turned on it a little bit. and then now all of a sudden they said it's ready for a comeback i'm not that sophisticated and i don't know why so i would like to pick your brains here. should i just hold >> yeah, look, they have to do a refresh. their drug didn't pan out as big as we thought. i think the stocks showed it's got down side to $50, upside to $60, $62 but bristol-myers is an okay company. i think they'll get it together. but they did not deliver on the key drug shawn in georgia, shawn. >> caller: thanks for taking my call >> you're welcome. >> caller: i have shares of mckesen and not sure whether to hold or sell >> i'm not a fan i don't like the middleman >> don't buy, don't buy! >> really good opportunity to take a little vacation from that bob in new jersey, bob >> caller: boo-yah, jim, from center haven, new jersey >> what's up >> caller: my stock is a recent ipo, which has a treatment for cancer atns, should i go to the racetrack? >> i think you go to the racetrack with this one. it's been straight up -- look, i've always said it's speculation friday these kinds of stocks can be owned as long as you recognize that they can go to zero or triple and i like that ratio. but you have to understand that. when activists talk, sure, it is always worth listening but piggybacking is seldom a good idea. don't be so quick to get into athena president trump pulling out of the paris climate agreement -- and a stock impacted by amazon's purchase of whole feeds. and a thank god it's friday edition of "the lightning round. so stick with cramer [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. welcome to holiday inn! ♪ ♪ whether for big meetings or little getaways, there are always smiles ahead at holiday inn. will you be ready when the moment turns romantic? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. so how worried should we be about the real estate trust. look at federal realty here's a stock that's down 12% year-to-date it's partly because investors shy away from reitz. 2.1% yield gets less attractive every time the fed tightens. this is a very well managed business, so with they triumph over the havoc amazon is wreaking let's find out from the ceo. welcome back to "mad money." >> thanks, jim >> for any real estate investment trust, to distinguish itself from any other, when the group is so tight liquorlated, it seems like the best trade with the worse >> you're making a point that the single biggest thing that impacts me day in and day out. what i know is that you and i have talked for years about challenges in retail therefore, how does that translate to challenges in real estate those are different things and what do you do to differentiate yourself i'm not so sure the world knows what i'm about to tell you if you think about it, with every bit of retail news that happens oh ut there, no matter what it is, it slams the reitz as much or more. in our income street, 8% of the income stream is grosser 9% of the income stream is full-price -- >> the high end. >> 6% is discount. 6% is residential rents. 7% is office rents it's the most diversified income stream in places that you wouldn't possibly say oh, my gosh, the real estate is bad >> how come the bond market, which allows you to borrow at low rates is smart enough to understand what's going on the stock market is not as smart as the bond market if it did, your stock would be dramatically higher. >> you're right. is somebody right and somebody wrong? the public equity market, let's make that distinction. in the private market, you would think they're a whole lot cheaper. not at all, particularly the high quality stuff >> the stats that you have, the most cogent ones, everyone is freaked out. so what do you do, the rent exceeds former tenants by 36%. so in other words, you dramatically upgrade, all people hear about is a vacancy, you're think thing is my opportunity. why do people not understand that >> we all know that certainly our income stream is expected to continue to grow and it has grown for a long time >> and the dividend record is by far the best >> you need to show it and continue to show it. people are saying yes, this is different than ever before so that past record doesn't matter >> the reason we don't buy that is you told me this was going to happen so you had me prepare for the apock limcalyps apocalypse i know you've been thinking for many years this was all going to happen so my question is, how did you know to avoid certain credits? how did you know to avoid certain tenants? >> when you have great quality real estate, you have more choices. when you think about the notion we have been an urban company for 30 years, we've been around 50 years and the places we were in became more urbanized as the country is becoming more urbanized. so you can see it coming, and if you had real estate that allowed you to have choices, you were able to act on it. if the balance sheet is not the biggest part of that, i don't know what that is. >> let me play devil's advocate. really good companies are saying when our leases are up, we're going to negotiate those rents down can they do that with you? >> insome cases they'll be abl to in other places they won't it depends on the leverage in that spot. when you look at the anchor leasing we did overall, 36% higher rent. that's not two years ago, that's the last few months. >> are there any situations where you ever lowered rents before in your history >> of course of course. when you look at 2008, 2009, 2010, there were a lot of similarities with respect to supply, because i believe we've been oversupplied for a long time this isn't new but when you took a look, and we did lower some rents for people and did work rent relief, overall we were the only shopping center reit where it was higher how can that happen overall? does that mean there aren't specifics that you can point to? sure, look at the company over the long-term and the quality in real estate. >> that's why we stick by federal realty >> jim, thank you so much. that's don wood, ceo of federal realty trust when i tell you that he said it was going to happen, does that help you "mad money" is back after a break. ray's always been different. last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers like ray can compete in big ways. china. oh ... he got there. that's the power of and. lightning round is sponsored by -- before we start the lightning round, we have some business to attend to. congratulations to our wonderful producer derek callahan on his upcoming nuptials. wish you a lifetime of love and happiness. welcome to the "mad money" funny elite. and now, and now it is time -- ♪ for the lightning round. [ mumbling ] and then the lightning round is over are you ready, skedaddy? let's talk with khalid in connecticut. >> caller: hi, jim love your show watch you every night. my question is about neutronics. >> it's undervalued here i can't believe it isn't up more i need to go to donny in maryland >> caller: hello, jim, thank you for taking my call listen, i have 110,000 shares of rai. and i don't know what to do with it before the takeover >> okay. just hold on to it you're going to do it great. and congratulations. this is what i'm talking about single stock rest. 110,000 shares of rai. congratulations to you you're going do great. let's go to cynthia in massachusetts. cynthia? >> caller: hi. my question is about ultra, and as it's dropping, is it safe to continue investing >> i think mary dylan is doing a remarkable job i want you to buy ulta i know the smart looks bad william in massachusetts, william. >> caller: broken stock or broken company, mow day snik - mosaic >> more of a broken stock than a company. eric in illinois >> caller: a big boo-yah, mr. cramer thanks for all you do. >> you bet >> caller: farmland partners, fpi. >> too speculative for me. i'm going to -- i am going to return to the martin theory. let's go to steve in california. steve! >> caller: boo-yah from radondo beach. >> so beautiful there. >> caller: it is in december, you were pounding the table of beth luny we've had two rate hikes since >> it didn't do well in the stress test. but beth is great. i'm holding it because it has some growth. let's go to john in texas. john >> caller: hey, big texas boo-yah, jim >> yeah. what's up? >> caller: i want to know, what is your take on applied -- >> you're swinging for the fences with the optical plays. i'm going to say get back to the drawing board with broad com let's go to mario in pennsylvania mario? >> caller: hi, jim mario in northeast p.a. >> all right >> caller: my question is regarding -- you see that the stock is overvalued again. >> i'm not a buyer i like pro point here. that's the one i would buy let's go to mike in california mike >> caller: boo-yah, jim! >> what's up >> caller: i wanted to get your opinion on -- >> haven't liked the last couple of quarters. i can't get growth and that, ladies and gentlemen, is the conclusion of the lightning round! >> the lightning round is sponsored by - >> yesterday, my tdoppelganger george clooney -- >> every day is the last day of the bull everyone treated me very roughly, and you were welcoming. it was like, i went home and called my mom and said, this guy was so nice to me. you need mergers >> merger. >> without this merger, mr.t., that phenomenal investor he was, came up with the answer when he said his forecast was pain >> the merger bot. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. see options data like never before. with thinkorswim only at td ameritrade. what do you do with the utility stocks here? it's supposed to be punished when the federal reserve starts raising rates in earnest, which they're doing. but so far this year the utilities have been holding up well take energy, etr, up 7.5% in 2017 this is going to be a regulated utility and i like this. energy reported a solid quarter in late april. the hedge fund play book says you sell the utilities when the fed is tightening. so should we be concerned here or is this a unique maplace here let's take a look with the ceo and chairman of energy i'm thinking that your utility is bucking the trend because it's going into a much more simplified matter. >> we're in the process right now of modernizing our infrastructure as a company. new power plants, new transition lines moving into more technology on the distribution grid we're going that as we move away from the wholesale business, butless bu also as we do that we have a growth story in the industrial south. >> i just want people to understand, what is the risk of the wholesale business, and why do you think it's better having steady growth? >> one, the businesses are different. when you're in the wholesale business, we're trading power, which on the margin is natural gas in all the markets where we located. natural gas prices have dropped tremendously, and our asset base was primarily nuclear. so the power prices went away, so did the margins, and the business just suspect profitable it's so volatile, and when you look at utility stocks, you're looking at growth. so it's a capital allocation question as much as anything else are you going to put your money in those assets that are commodity plays or put it into the tremendous growth? >> so commercial, residentiares, doing well >> we've seen flat, declining growth in the residential. >> why is that >> mostly energy efficiency. we have had a tremendous change in lightbulbs. you change out every bulb in your home and do that for a couple million customers, you have low growth going down in new orleans, we've had a changeout in the housing stock where we see more energy efficient homes. that is what is playing across the country as it relates to the residential sector for us, major manufacturing growth in the petrol chemical answers have been a boom for us. >> one of the things i want to make clear to people, your institution has been far ahead of almost every other fleet in terms of sustainability, reduced emissions. it's something you did voluntarily all along. i have to ask you, paris accords. leaving them would be seemingly antethreat ca antethetical >> it's not clear what the paris accord -- >> but your ethos is to have a smaller foot print it's what you guys have done the idea that some would say of stalling the paris accords is against the idea of a foot print. >> in reality, what we're going to do with our asset mix, is unlikely to be different now than it would have been. >> you're not saying let's embrace coal >> no. we have 50-year-old coal plants, that's only about 7% of our generation and over time they will go out because you just don't spend the money on 50-year-old plants to keep them going that you would with the new technologies being much more efficient and environmentally friendly they use less water, 40% co-2 emissions in a gas plant we build today, versus the ones we'll retire so for us, the coal mix will decline, we do get a significant amount of energy out of nuclear power, as well we're seeing renewable storage, the price points of those is coming way, way down so over time, our mix is going to be the nuclear plants, nothing new. >> they're too hard to build now. >> too big for the foot print of what you need to do with a company like us. we're going to continue to upgrade our gas fleet. and we'll continue to transition plus a lot of technologies that will help our customers use less >> everything okay with tropical storm cindy? >> it had less impact than we anticipated. still 35,000 customers out without peak, but we got most of them back very quickly so it was a good trial run >> i think the transition to being pure play is something i like very much it's just easier to understand >> exactly >> terrific. that's the chairman and ceo of energy etr i've been backing this one i love the industrial side and i love the clarity "mad money" is back after the break. wow! yeah, it's nice that every bad decision doesn't have to be permanent! now you can ditch verizon but keep your phone. we'll even pay it off when you switch to t-mobile. at crowne plaza we know business travel isn't just business. there's this. 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(baby crying) ♪ fly ♪ me to the moon (elegant music) ♪ and let me play (bell rings) the grim reaper visited home depot and lowe's today the dprim reaper being amazon and fears about what could happen i think sit overdone for home depot. you're going to get a chance to buy a high quality stock based on fear, and that's no way to invest i like to say there's always a bull market somewhere and i promise to try to find it just for you right here on "mad money. i'm jim cramer, and i will see you monday >> narrator: in this episode of "american greed"... he's a successful insurance broker. she's a vice president at a leading financial firm. >> she was making close to a quarter of a million dollars a year. they were living large. >> narrator: tina and joe caronna lived the good life, with a nice house and a collection of classic cars. but joe has one very dark secret. he's stealing money from clients to finance their fun. >> he preyed on people that were friends and family. he didn't prey on strangers. there was nobody he would not steal money from. >> narrator: how far will joe caronna go to keep his sins a secret? >> i started crying, and i said,

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