Transcripts For KWWL Mad Money 20160302

Much at all and you wake up at 3 00 a. M. And theyre flying, thats a sign that somewhere some place we got some good news at last. You can tweet me if you keep this schedule as i do and ill retweet you for certain. We got two pieces of good news from the same unlikely place china. First we learned that the chinese economy is worse than expected wait a minute. Manufacturing the lowest level in seven years which is the last time that the chinese got serious about taking a great leap forward with their economy. Now they meet saturday and with the weak numbers as the stars are aligned for the biggest stimulus package yet, the year of the monkey, i think theyll put more money to work than people think. China can turn, its done its before. Who know, maybe we will get some at the very least the lousy chinese manufacturing numbers sure turned the stock market around over there which went from black, and as the session proceeded. Far more important, we have a shockingly dovish speech from bill dudley. Hes the new york fed president who caused a recent selloff by denying anything had gotten weaker since the rate hike. He set off a firestorm including here with yours truly when he said it was all systems go with the rate hikes because everything is hunkydory. Last night he gave a speech in china, on balance im less confident than i was before end quote about the economy. Part of this reflects my assessment that uncertainty to the outlook has increased and Downside Risks have crept up, unquote. Then quote, at this moment i judge that the balance of risk to my growth and inflation outlooks may be starting to tilt to the downside. The recent tightening of greater negative impact on the u. S. Economy should this quote. And throw in this. That was easy. I cannot stress enough how important this dudley speech was to the turn that you saw today. Even though it happened when most of you were sleeping. You have the federal reserves leading hawk saying that maybe he was too bullish about the economy. And he has to adjust course for new more negative reality. A position totally at odds with his previous statement. A repudiation of them i would when you also factor in dovish comments on squawk box has week from the st. Louis fed, its certain theres no rate hike this month. That isnt what we were thinking as late as yesterday. Its also very significant that dudleys comments came not long before the release of the dudley knows it will be not so hot permeated the discussion today and that boosted the stocks from the get go. Because a weak employment number means that the fed wont feel compelled to act this month. But you know what else happened . If you go back two weeks ago we had this monumental flight to quality, with money pouring out of risky assets. And with investors hiding in ultra low risk u. S. Treasuries it was actually a frightening thursday. Maybe im missing the point here. The flows have reversed putting an end to the flight to the quality trade. The money going to the emerging markets and junk bond funds. Thats a huge reversal in direction. I dont trust it, but it is happening. How could it be . Simple. Think back to the mind set when we had the flight to quality. The world was supposed to be ending. The fed about to tighten. But when the two biggest most visible fed hawks on the the ones who recognized that there are some real problems and then china recognizes they have a genuine chance to do something big, well, youre far more likely to want to sell treasuries and get more positive. You cant have the chinese expanding and stay bearish. You want to buy risky assets not sell them. Now, that brings us to the next major issue. Got to figure out how do you get more positive about stocks themselves if things really are that weak in the country that dudley agrees with bullard. How can you thread that needle . First, you need some positive data to come out, voila, we have a construction figures that was positive. We got a Small Business survey in paychex that showed an improvement in hiring. Wow, dudley he said im nervous here. Be we got excellent numbers Strong Enough to call in the notion that were reaching peak auto sales and the bulls want to thread the needle which means you need to see some strength but not so much that the new found doves like dudley will feel like they need to back track. We dont want a recession, we want growth to slow a tad, to put the federal hold in more defensive, while we sort through the data. As the bits of news comes out, guess what they have a catch. Every income has a catch. Whats that . Oil. Will oil behave, we have to say that every day. Meaning will it go slightly leaguer . We know if crude doesnt go higher then they wont be able to sell equity and many will default on the lopes to the banks which is the big saga that took the market by storm two weeks ago. Sure enough the price of crude rallied nicely again. If you want a microcosm of the oil and the banks, lets go through it. One of the more troubled well use one of more troubled giant oil many had speculated that it would join the ranks of the dead men drilling and tyke take down the banks that sold it millions. It ensured that this would be no Balance Sheet problems. Follow the sell stock. It joined the ranks of devin, pioneer, hess and newfield if offering equity to raise cash to please the creditor, the ratings agencies. Perhaps because the other deals worked well for investors this marathon deal was oversubscribed. And the Company Ended up offering 145 million shares at 7. 65 apiece. The offering was priced perfectly. The stock rallied 30 cents. Thats a huge gain for those who got in it. And marathon went from the not so hot credit to a good one. Another wounded player saved. Its a reminder what matters to the market the oil stays high enough that all the sizable cash capital and the banks who have been taking it on the chin from the worries of the oil loans are off the hook. Both the oils and the banks led the market today with and plus because of the better Economic Data Interest Rates rose which allows the bank to make more money off your deposits. Then thats work day. When we interviewed the ceo aneel bhusri it was going lower and we sussed out it was sharply better than expected on this show. I pounded the table again this morning on mad dash and squawk of the day when the report came out. It was up nearly 20 today. That encourages buyers who have been anxious about owning many fast growing tech stocks which members of f. A. N. G. Which tend to rally when work day blows like it goes down when Tableau Software blew up. This market was ready to take off. Remember we heard from Carolyn Boroden who told us last night that the rally today would be crucial in determining if the s p can keep climbing. She predicted a rally well, it added more fuel to the fire. Heres the bottom line. The map played perfectly for those who own stocks today as the plethora of needle moving, needle threading news came together in a single session. Making march roar in, not like a lion, but like a good Old Fashioned bull. Michael in wyoming, michael . Caller hey, jim, thanks for your time and happy belated birthday. Thank you very much. Caller im 26 years old and im trying to take advantage of my roth and i picked up some the first lot a st a 22 loss and at a 35 gain. Those of us trading out of the roths are not able to trade spec id. Right. So in order to take advantage of the 35 tax free gain i have to take the 22 loss in the first lot of shares. Given the disadvantage i have trading out of the roth should well, let me give you the pro, my daughter wants one for graduation. Not going to happen. And there was a devastating tesla report and andrews got a lot of power. When people saw that they didnt like it. You have to have conviction if you own tesla because its not on any way can i explain it on price to earnings ratio, on price to book, on revenue. I cant base it on anything, but if you have the conviction then i do not have that conviction. I need some touch stones to make me feel better. I need to go to adam in florida. Caller hey, jim. The f. A. N. G. Stocks have been under pressure year to date except for facebook. What are your thoughts on facebook with regard to other well, i created f. A. N. G. Because it was a symbolic thing. When we talk about the f in f. A. N. G. , thats facebook. I think it can earn 450 in 2017. Look at it, its at 109. I mean, why cant it sell 30 times its earnings. So thats how i come one the higher valuation. If you look at this years numbers you will think its too expensive. If you look at next years numbers you think its too cheap. The f. A. N. G. The cheapest is the g which is alphabet, but the symbol is google. Prem in florida. Prem. On. The whole family watches every night. Whats up . Caller i wanted to ask you about priceline. I like the price line quarter. I went over it with someone who is those to the company, how the heck can the stock go down . I really thought the priceline quarter was absolutely terrific. And you know what . I have to be careful. I want to point out because i did talk about the marathon, weather fords filing an offering. Dont overstay in the fossil fuels. They will exhaust the Bottomless Pit of buyers. The market gave the bulls what they wanted, a map that left to shrug off the nasty day. The name behind modern and more, a knockout quarter last week, but didnt knock the bears out. Is it time to start chopping wayfair . I have an exclusive with the ceo. And valeant is showing courage or determination. If you google it. Determination when it comes to the embattled stock, although anything can bounce. Dont miss my take on the pharmas latest issues. And ill show you how this new device is saving lives so stick 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. I think we shouldve taken a left at the river. Tarzan know where tarzan go hey, excuse me, do you know where the waterfall is . Waterfall . No, me tarzan, king of jungle. Why dont you want to just ask somebody . If youre a couple, you fight over directions. Its what you do. If you want to save fifteen percent or more on car insurance, you switch to geico. Oh ohhhhh its what you do. 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Scholls custom fit orthotic inserts. Now i get immediate relief from my foot pain. My lower back pain. Find a machine at drscholls. Com pet moments are beautiful, unless you have allergies. Then your eyes may see it differently. Only flonase is approved to relieve both your itchy, watery eyes and congestion. No other nasal allergy spray can say that. Complete allergy relief or incomplete. Let your eyes decide. Last thursday we got a terrific quarter from wayfair, the online retailer that sells furniture and home goods at Bargain Basement to well studio and the numbers dont seem to matter much to the stock. Its one of the most vicious battle grounds out there. And 38 of the float. Who are suspicious of the Business Model no matter what they seem to do. When they reported last week they beat all of the metrics by a very large margin. Like the monster 81 Revenue Growth but after initially seeing the stocks soar, the darn thing has given back on the gains. What going on here . Lets look to niraj shah and where its headed. Back to mad money. First, congratulations, you made money this quarter. A lot of the bears said that would never happen. How did you do it . Well, you know, our company was profitable for the first nine years which folks tend to overlook. Yes, they do. Its not a dotcom from three years ago. I think the great thing about our business is we have great unit economics. The reason were growing so fast, is on the back of repeat. If you look at new order growth, 67 year over year which is great. But you look at the repeat order growth, it doesnt carry much ad cost. Youre proprietary versus what people think. You have 450 engineers today. What are they what do they do for you so the others cant keep up . Sure. Online business you clearly need merchants and merchandising, and marketing. You clearly need great operations supply chain but our world is entirely all three of those, superpowered by technology. We build our own software. So the engineers are building the systems which when customers are shopping, how do we know which recommendations to service for them, how do we handle the transportation network, theyre handling that. So every piece of our business has a tremendous amount of technology. Well, thats a point i want to go to. The transportation you are moving and moving aggressively into europe. Thats going to cost money. I know the model should scale, but europe is a hard place for americans to do business. Why are you so confident . So, you know, we have been in europe for a number of years. So we took a very slow and methodical approach to europe. We entered the u. K. In 2008 and germany in 2009 with a very small team. Over the year, we feel like weve learned the local markets and competitors and over the last 18 months we have scaled the team up. One of the things we mentioned in europe and now the merchandising, the site experience, the logistics and Customer Service we do that excellent. Our leading market is the u. K. , and we have seen that the customer traction is very strong. Get the Customer Experience to where its good. Then you can market it and ramp your customer base. Knowing that you know your economics. Knowing that youre you have good repeat and its getting better. As you see with our business, as you ramp the business, actually the business flows through. Why do you need europe . I wouldnt say you need europe. The u. S. Is a huge market. But europe is a very big opportunity. Its as big as the u. S. Market. So when you look at the leader, look at netflix built a strong leadership position in the they have extended their reach outside the United States and are building a Strong International business. Look at amazon, they have a strong domestic business. They have built a strong business outside the United States. Its a big opportunity. We think the technology we built, our understanding of the home market its a category thats unlike other categories. We think were in great position. Wayfair is changing the way that people shop for their homes. Part of the process is helping the consumers discover the new possibility, in terms of selection, price, service, inspiration. Youre going catalog. Why do you need catalog . You have a great online experience. We have an incredible online experience and we do great things on television with partners. We have integrated on hg tv and isnt catalog old world . The point im going to make about catalog where it fits in, one of the things different about home, home is unbranded. Its very visual in nature. One of the great opportunities active customers as i mentioned theyre growing were growing because theyre coming back. Customers. Very immersive and very visual we take this imagery in the photo studios. These are product selections we put together so its a great opportunity to make the experience more immersive without kind of taking on this fixed cost structure that a lot of folks do with physical stores. I know its important because our viewers have been hurt by restoration hardware. Some by williams sonoma. Im trying to distinguish why youre so much more confident than they were, because they were overconfident. Restoration in particular. Both of them play at the high end of the market. Their products are very expensive. So making them affordable and allowing the customer to find a unique item is a big thing. Than what they do. Theyre traditional inventory players that work off a narrow range. Catalog operations thats a model thats worked very well but not what we do. Larger. Its a mass business and with the selection we offer the merchandising that we have its a different business. I was going over your story mason. He was saying what more does the guy have to do . How can there still be a 38 short position. But i do find myself in a curious position. Of saying what do they want . I mean, you youre profitable, they were worried about repeat business, your repeat business is doing much better than we thought. Youre worried about whether youre different from overstock. Its clear that they could gun for you all they want, but its not working. Not killing you. Look, any time you have a fast growing company, who isnt profitable in our case. Some folks may want to debate it. But what you would say if you read the research on us the folks who have done Real Research who do Consumer Research look at the awareness numbers, ask consumers why do you like wayfair, it becomes clear why we exist, why were growing so well. What customers value. If you want the thesis that wayfair doesnt make sense you can say that. But i think as you do research you would find that wayfair is very strong. Well, i want people to do the research, not be spooked by the trading. This was much better quarter do at this point in their public thats niraj shah, cofounder of wayfair. I want you to get comfortable, i know you will. Break. Wish your skin could bounce back like. It used to . Neutrogena hydro boost water gel. Instantly quenches skin to keep it. Supple and hydrated. Day. After day. With hydrating hyaluronic acid, which retains up to 1000 times its weight. In water. This refreshing water gel. Plumps skin cells with intense hydration and locks it in. For supple, hydrated skin that bounces back. Hydro boost. From neutrogena. See whats possible. I take pictures of sunrises, but with my back pain i couldnt sleep and get up in time. Then i found aleve pm. Aleve pm is the only one to combine a safe sleep aid plus the 12 hour pain relieving strength of aleve. Im back. Stress sweat. It can happen anytime to anyone. Stress sweat is different than ordinary sweat, it smells worse. Get 4 times the protection against stress sweat. With secret clinical strength invisible solid and clear gel. Enough pressure in here for ya . Im gonna take mucinex sinusmax. Too late, were about to take off. These dissolve fast. Theyre new liquid gels. And youre coming with me. You realize i have gold status . Mucinex sinusmax liquid gels. Dissolves fast to unleash max strength medicine. Far. When you see accounting irregularities you dont ask questions or wait for more clarity. You sell sell sell. But can they equal sell . Thats when of the cardinal rules for decades now. If you want to know why you only need to look at valeant, vrx. Ever since we first learned that valeant is using unorthodox practices to sell drugs its a dark matter over this one. The initial major charge as opposed to smaller leaks about how theyre committing accounting irregularities and leff has done some good works. Even it seemed a little at the pharmaceutical a little radical to call it enron. Leffs point out that the New York Times which published the story about the odd relationship with another company which is scratching the surface. I dont know a lot of talk about the price gouging but valeant actor in the same plight. Once i read citrons stuff i thought forgot it. It isnt thats how you have to think. The upside isnt worth i. Unless you have total comfort that the short seller is wrong, i dont know about you, but ever since that report theres not a day of comfort in this story. Even if it was being used to move inventory, it wouldnt ding the earnings that badly. Plus, it would still have amazing cash flow. I watched big ackman and ceo mike pearson tag team the positive story. But my rule is severe. I still hadnt heard anything indicating that all of the accounting was kosher. I never heard of a reputation of what citron was saying. As it plummeted down to 70 i was glad my rule hadnt failed me and then walgreens announced a deal with valeant and the stock went up to 15 because of walgreens Good Housekeeping seal as we much as we like and respect walgreens, my Charitable Trust owns it. The valeant stock drifted down as owing to the pearson stepping aside because of illness and some real negative publicity from Hillary Clinton including this gem. Its called valeant pharmaceuticals. Im going after them. This is predatory pricing. Well make sure it is stopped. Im Hillary Clinton and i approve this message. The guy who said that theres no such thing as bad publicity had not watched that message. Anyway, then came a second accounting bombshell. The company said it recognized too much profit in 2014. Then valeant exonerated itself. The s. E. C. Does the investigation. Not the company. That news came out stock was at now if hadnt sold the stock on the accounting irregularities means sell, sure enough, valeant which has the most disclosure said nothing about it on monday morning when they decided to delay the release but put out other stuff. When we did find out, the stock got whacked, falling down to 65 and change. Close to citrons 50 price target and now its trading at half of what we learned before we learned about the potential accounting irregularities. I have been accused of keeping people out of stories that were legitimate, but being tarred with the accounting charges. It is true. Times, there have been some missed opportunities but can we please disagree that when i say accounting irregularities equal constant reminder of how right that rule is. Give you the bottom line. Its a nightmare that could have been avoided by following the straightforward principle thats always stood the test of time. Im sure they can bounce again, they all do. But remember my adage you wont be hurt by this one again. Joe in new jersey up. Joe. Caller hello, cramer. Joe. Caller hey, i was at the grand hyatt on saturday in new york. For a t. D. Ameritrade seminar. Someone said they spotted you there. Were you there . I was at a full day learning a lot from larry cramer. I was there. Whats going on . Caller anyway, yeah, my question is about gilead sciences. Right. Caller they seem to be doing the right things with good earnings. The approvals on the hepatitis drug and analysts are saying theyre giving it a 100 price political head winds. Should that stop me from buying it . I have to tell you of the ones of the four horsemen, of the celgene, of the biomed, this worries me the worst. Its an expensive drug, but i wont tell you to sell off, because its too cheap. Accounting irregularities equal sell. Much more mad ahead. More than 25 million americans suffer from diabetes. I will talk to the ceo of the company who has an app that makes their life easier. And up more than 100 , see if it can stay in good health. Plus the super tuesday edition with cramer. Because im a woman. Do you think im gonna crack under pressure or conquer the field . Defy expectations any day with always infinity. Made with flexfoam. Absorbs 10x its weight. Rewrite the rules. Always. Ugh heartburn no one burns on my watch try alkaseltzer heartburn reliefchews. They work fast and dont taste chalky. Mmm. Amazing. I have heartburn. Alkaseltzer heartburn reliefchews. For the last six months all Things Health care have been in the danger zone. As the cost of drugs and health care in general has become a major hot button issue in this president ial election. Hey, super tuesday. And while this wont translate into any kind of real Government Action the hostile Political Climate has made medical devices hard to own. Instead of pricking your finger a zillion times a day, you have a sensor you can stick on your sugar levels to your smartphone in realtime or apple watch. Since then its now plunged down to 65 and change. Some is simply because this was a super high flying growth stock in a market that turned against high flyers. However, the stock has rebounded 20 bucks from the lows. Now i have to wonder if dexcom has found its footing. Strong guidance for 2016. Has dexcom gotten it back . Lets check in with kevin sayer to learn more about the company and the prospects. Good to see you. Good to see you again. Right out, how is the launch going . The launch is fantastic. We added a tremendous number of quarter and its well received. Now, this is one where youre actually starting to talk about some very big reimbursements. United health is interested. Youre kind youre getting anthem. The Big Companies are trying to 98 of private payers cover were trying to move them to the pharmacy benefit. We have contracts where the patients can go to the local than the process of going through it now. Much easier and much Better Service for the patients. I was surprised to see you launched this. Worldwide. This wasnt use the United States. There are a lot of countries in sure, we reimburse. Coming. Sweden has been very, very well this year. Coming in some other countries. We did launch it worldwide. This is first time we have done that as we said on our call. That was a big stretch for us. Yes. Big stretch. So were learning. Surprised me, you play with a totally open hand. You talk directly about the competition. You talked about the avid product and the medtronic product. And i mean, youre just out there saying, listen, were not losing share. Were still gaining share. Our business grew over 50 this year. In europe, we grew just as fast as it grew in the u. S. And our biggest market is in europe, we doubled. Doing very well. Why did you bring it up . You talked about abbott and libra and then the medtronic. Before the end of the q a, why did you bring them up . Investors wanted to hear. They did . The people that the company want they wanted to hear the things. We dont run the company day to day for those guys. If we execute our plans we know well do well. Okay. But it does seem that you were talking about best in class accuracy versus some of the other guys. It does seem to be the theres a bit of a difference. Theres a bit of a difference. We have best in class accuracy. And it matters. It matters over time. This is something that theres not a lot of room. Variance. Type ii was mentioned. That could be the next big market for you. It could be the next big market for us. Thats why we have the verily partnership. There are tremendous insights that somebody ask learn about nutrition from wearing a continuous glucose monitor. Different than the alerts and the alarms that we have now, where patients are using this to dose insulin and do things. It will be a different system but we think it can be a huge market for us. Very insightful for patients. I want to you kind of dropped it. Verily is google. And just tell people what that relationship is because it seemed less formative last time we spoke. Now youre trying to figure out how to work together. We are starting to figure out how to work together. Development efforts whereby theyre making lower Cost Electronics for the transmitter portion of our system. So we can take costs out of this thing and make it disposable. That product will focus on the type ii population. Our first Product Launch with them. Then well take that electronics learned and spread it across the board. And use it across the board. I typically never talk about takeovers but i thought medtronic, i mean, if the stock drops too low are you afraid medtronics is a very inquisitive company. Were not afraid. We run our business to execute or plans. All right. I had to ask that. When i looked at some of the research, people lowered the price earnings but i do think that the Political Climate could clear up. Is it weird that you guys which would save the system a fortune would get lumped in with the companies that just raised the prices and really are a tax on the system . We need to do a better job with data that shows how much money we can save. Patient. Jim, i grew up a numbers guy. I would love to be able to put on the table before people, heres what you spend on our system, heres what it saves you and heres the equation. This is why you have to have it. Were going to gather day that shows that. When we present that data i have every confidence well get that come on that show. Im tired of this industry i said it last night at the top of the show. Im tired of this industry being blasted because there are good actors who are saving the system a lot of money, so come on when you get the numbers. Thats kevin sayer, president and ceo of dexcom. And they bring up the competition. Who brings up their competition if they dont think theyre better . Mad money is back after a break. cell phone rings where are you . Well the squirrels are back in the attic. Mom . Your dad wont call an exterminator. Can i call you back, mom . He says its personal this time. You call at the worst time. Its what you do. If you want to save fifteen percent or more on car insurance, you switch to geico. Its what you do. Where are you . Its very loud there. Are you taking a zumba class . Ugh heartburn no one burns on my watch try alkaseltzer heartburn reliefchews. They work fast and dont taste chalky. Mmm. Amazing. I have heartburn. Alkaseltzer heartburn reliefchews. Announcer lightning round is sponsored by td ameritrade. It is time. It is time for the lightning round. You say the name of the stock. Sell sell sell sell. Then the lightning round is over. Are you ready, skeedaddy . Dave in illinois, dave. Caller dr. Cramer, a pal to your Charitable Trust. Paypal. Oh, my, dan schulman has been on the show twice. Hes the ceo of paypal. I have to tell you, the analysts are discovering how good do not sell it, i would be a buyer. Colin in new jersey. Caller hey, im a big fan. I wanted to know what you thought of Consul Energy they gave it the boot from the s p 500. I dont like fossil fuels. Calvin in connecticut . Caller hey, boo a. Service Corps International the its a good one. Much. Need to go to russell in california. Russell. Caller the stock is 2u, buy, sell or hold. I dont know 2u. You stumped the chump. I dont know let me do some work. Lets go to phil in michigan. Phil . Caller booyah from northern michigan. What do you think of frontier . Do century link, but me im a verizon guy. Verizon has been good to me. Lets go to rowshawn in new jersey. Caller booyah from princeton. Pxd pioneer, if youre buying a high growth one, do it. Lets remember they did a big richard in virginia. Richard . Caller jim, thanks to you and your great staff for taking my call. Youre welcome. Caller im up 25 in spirit airlines. But the airlines are way too cheap. I like delta. I like american. I like spirit. And i like southwest. All of them got too cheat. And that is the conclusion, ladies and gentlemen, of lightning round. Lightning round is sponsored by t. D. Ameritrade. Technology. Say, have you seen all the Amazing Technology in geicos mobile app . Mobile app . Look. Electronic id cards, emergency roadside service, i can even submit a claim. Wow. Yep, geicos mobile app works like a charm. Geico. Theres a more enjoyable way to get your fiber. Try phillips fiber good gummies plus energy support. Its a new fiber supplement that helps support regularity and includes b vitamins to help convert food to energy. Mmmmm, these are good nice work, phillips the tasty side of fiber, from phillips. Cheezit grooves are the Perfect Union of a cheezit and a chip. You mean like they got married . Umm. I guess. Youd make a pretty bride in that wedding gown. Oh, its a lab coat so. Hey everyone, joes getting married bam bam ba bam. Oh, im not. We take time for our cheese to mature in our crispy cheezit grooves. Enough pressure in here for ya . Im gonna take mucinex sinusmax. Too late, were about to take off. These dissolve fast. Theyre new liquid gels. And youre coming with me. You realize i have gold status . Mucinex sinusmax liquid gels. Dissolves fast lets end this. Being safe doesnt mean your kids have to walk around covered in bubble wrap. Teach social media boundaries. Keep personal info under wraps. You dont have to live in a bubble unless you like how it looks. [light instrumental music] [laughs] despite the climate of fear created by the politicians, the fact is that the Health Care Sector still growing like a weed. Thats one of the things our leaders keep complaining about. Despite the flaws, the Affordable Care act is getting more and more health insurance. If youre looking for a creative why to play the business that might be more immune to political grand standing, it is super tuesday, than the rest of the health care cohort, consider amn. Theyre a type of Health Care Cost containment that lets them use the expertise to manage the business side of things so the hospitals can focus on the patients. It Services Health Care Organizations and including big outfits. This stock has pulled back roughly 23 . Like a lot of the other stocks and they blew away the numbers when it reported let than two weeks ago. The stock started the rebound, but doesnt have but does it have more to run . Lets go to susan salka and find out more about the company and welcome back to mad money. Good to see you. Have a seat. Always a pleasure. Every time i talk to you, i find theres a new shortage in health care in your excellent conference call. You talk about 9,000 nurses that you quizzed. 54 and older, starting to retire. Youre going to find nurses for people . Well, you know the shortage of clinicians spans all disciplines. Not just nurse. Physicians, in fact, a third of the physicians are 60 and older so a good majority of them are beginning to retire and we dont have enough physicians to come into the market. On the nursing side, about half and in the survey they asked nurses at 54 are you going to retire and twothirds of them said likely within the next three year. We always hear about there are the professions where people cant get jobs. I mean, well, im unemployed. Every single one of you have categories needs more people and theyre not all doctors. Its really been an amazing burst that we have seen in demand. Its not surprising because of the shortages and were really just at the beginning i think of shortages. But you have the other factors. You know, really step back and look at the major factors that drive utilization and demand and the economy is a factor. In fact, it drives more vacancies, more job quits. We are at the highest gap of job openings and hires within health care today. That means our clients are having challenges in hiring not only temporary, but permanent staff. That spectrum. Well, lets talk about that. I thought one this is dan conference call, i want to give you look at our top 20 accounts. 25 of them now utilize five more of the offerings, so you the rest . Absolutely. We try to look for multiple ways to help our clients across the spectrum. You know, in how we can help them to recruit clinician, on board, credential, train and then optimize that workforce. So you look at some of the recent acquisitions of avantis last year. That was to help our clients to better optimize the workforce they have. Whether it be temporary or permanent. Then more recently the acquisition of b. E. Smith which was almost immediate. Absolutely. Its not only immediately added to the type of services but it hits an important pain point for the clients. One of the biggest complaints that we have heard from clients we cant do the transformative work we need to do in health care because we dont have enough leaders. Provider of interim and permanent placement for Health Care Executives and in fact last year we also acquired the first string and other solutions that provide health care leadership. One of the things that was a constant themes, they were trying to poke a hole through where you wouldnt do well. If everybody could find a job they wouldnt need you. But it seems there are verticals within your company that are always going to be in demand that you just cant do yourself. You know, you have to remember, again, we have multiple drivers within the business. And its yes, the economy. Thats a correlation between gdp and unemployment and as unemployment is low it typically drives demand for services in our business. But thats not the only factor. Again, you have this ageing so weve worked very hard to continue to diversify the business and make sure were adding on Workforce Solutions that can really help our clients across that spectrum. And they tend to be less economically sensitive and have higher margins which is why you have seen improvement in our ebitda margins over the years. Yeah. Then you call out the physician permanent placement business, knock the ball out of the park. A particular reason why that division was so strong . Well, we have a Phenomenal Team led by the founder, jim president there. They have worked hard to continue to diversify the business and theyve taken it in consolidation has been good for us. Another theme thats been really terrific. So you know they have just really theyre hitting on all cylinders and theyre evolving their business to continue to change with the needs of the client. This is an example of the this is an example of the companies that are doing well, coming right back. Susan salka, president and ceo of amn health care. This is the right time for the stocks. Stick with cramer. Pet moments are beautiful, unless you have allergies. Then your eyes may see it differently. Only flonase is approved to relieve both itchy, watery eyes and congestion. No other nasal allergy spray can say that. When we breathe in allergens our bodies react by over producing six key inflammatory substances that cause our symptoms. Most allergy pills only control one substance. Flonase controls six. And six is greater than one. Complete allergy relief or incomplete. 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Theers voters have spoken and the big super tuesday winners are donald trump and Hillary Clinton. Trump won arkansas, vermont, georgia, massachusetts, virginia and vermont. Clinton also won seven taking massachusetts, arkansas, tennessee virginia, texas. And Bernie Sanders managed four victories. Ted cruz won three states, home