to help fuel operations for one of the world's largest racing events. now is the time to see what america's largest 5g network can do for your business. >> my mission is simple, to make you money. i am here to level the playing field for all investors. there is always a market somewhere and i will help you find it. mad money starts now. >> welcome to mad money. welcome to kramer. if you want to make friends, i am trying to make money. my job is not to entertain, but to explain the market. we have one wild market today. everything that had been doing so great this year suddenly

pulled back. other stocks that have seem to have run out of oxygen suddenly sprung back to life, giving you a huge percentage. let's define the tape so far this year. many go even further in after hours. they all came in red-hot this week. it is good news for a lot of the sheep companies with stocks that have done nothing since december which is how the dow could have been hundred 34 points today. the nasdaq tumbled .76%. we had a bunch of high flyers open up big this morning. i want to give it back. we had an expensive stocks. j.p. morgan and the largest steel company in america. it took off as if their hair was on fire. periodically you get days like today. it is top of my mind.

the ceo, here is the tech company that put numbers better than expected. it was about cup, the one in the lead. they showed you and spending is real and tremendous. the trajectory of the stock tells another more negative story. the print came out last night, the stock jumped 10 points. i got home, my girl was trading up 30. it did not let up until it was up $60 this morning. that is exciting. the action generated, holy cow. for every stock with an a.i. connection it was breathtaking. stocks were flying all over the place. it was earth shattering. it was a problem. after the strike there was no follow-through. it was followed by nothing. when you know it, supermicro

finished. that was a joke. they reported that monster of a number. we began to see a parallel of the market. levitation in the banks. this time it was not a bowling match. what we got was volleyball rotation out of stocks and into the stocks to trade 10 or 12 times. here is a stock that is not historically cheap, but for time earning cheap. this was four times. they laid out a nine dollars this morning. anytime i can buy shares at four times earnings i will do it and raise the money to play for the shares. i will sear shares. that is what i think happened today. i say that because there is not a lot of money coming in. you can earn 5% risk free.

that money cannot be enticed into what looked like a house for tech. thanks stuff. some new regulations will be less restrictive than expected. the bank stocks will make a lot more money than you think. that means wells fargo is only selling for just 10 times earnings. again far be it for me to be trading 80 times earnings or no earnings at all. i can be at a stock with 10 times earnings. it will be a nice dividend. this dealmaker, largest in the world of the ones that are not subsidized is at the forefront of everything infrastructure selling for roughly 13 times last night when it levitated to much higher levels adding $12 for 7%. we have seen this before. what games are being played in this market? is it a game of bowling or the pin action was tremendous but there was no second frame?

is it a game of volleyball as traders rotated out the front row and went to the back row. the cheaper positions have no more spiking. it was game of back seat. nothing serious, some sort of and at the month game. we looked to take profits n what was flying too close to the sun and putting it back to work with gm in the banks. no matter what game we were playing it cost damage and we need to talk. we do up the charts stop. we always ask them what they are thinking. part of being good investors is curiosity about anything that can earn per policy. actual gyrations can impact the thinking of traders. we are looking at some island reversals in the world of tech. whatever game impacted the stocks were left in their wake, some broken eyelid reversal

charts. a stock jumps up and plunges. we were having a big situation where all the kings horses can't put that stock on the right trajectory again because violence is progressive. i know i am analogizing. the major court has been companies. regardless of what you play, we don't care. stocks report you. nothing else does. gm would not sell or times the earning. to have the service in front in the thick of earnings season with results that only resort to rewarding the downtrodden, that is worse. you know have plenty of people buried we are in for it. a few of the after hours action supports that is why we need to focus on tonight's earnings even though we don't have the full recollection on them. i am talking about microsoft. here is what we know so far.

microsoft had a bottom-line 30% revenue and six of those came from a.i. the stock came in too hot. we hit you with the forecast. we have the chip business. stocks are crumbling after hours. it looked like a good quarter except they disappointed some. they had a nice setback. so are these all island reversals that are too difficult to overcome where the stocks open up? or is tech taking a breather until the juicy money takes advantage of the first break of 2020 and it is the first price break. there is just too much noise, let's on her hands and process the information coming at us before we take action. it will be well worth the wait. let's take hold, go to tom in florida. >> thank you for everything you do for us.

i'm a longtime watcher. my question is, is now an okay time to get into the residential reefs of that interest rate might be softening soon? >> what i have noticed is there is no great disparity among the reeds in the residential reefs have been the one i think about avalon bay, just okay. i am not going to rave about any of these. i am not going to raise. they have had big moves, they have had huge moves of the bottom. we can say that gives you 3.7% yield, that is not enough for me, that is not enticed me so i will say no. i do like federal frt or simon properties and i like the letter o at 5.5 with a monthly dividend. santa colorado. >> how are you doing? >> doing well. how about you?

>> doing all right. one of the thoughts i think is one of the most important in today's world is taiwan semi and looking at amd, we are talking about a combined market cap of over nearly $1 trillion. esm with their $534 billion market cap, this is the company that all other companies handle. it should be valued more. >> it has got this great political risk. you have got a presidential candidate any feel like but not necessarily jump to defend what could happen in time on. many people think he would. you have got a president who has antagonized the chinese into thinking they should take action. it is a mess. nobody knows and that is why taiwan is a hard stock to own. mike in connecticut. >> thank you for taking my call. i want to take this opportunity to thank you and staff for all your wisdom with the books and

the tv show, which has made me so many great successes. >> you are great. i don't know these callers. jim, you put these guys up here are you kidding me? i don't put anybody up to saying things about me. in fifth grade was the last time i hit the principal a snowball and people testified in my favor. i needed that. >> stock i find so much conflicting information. i can't get out of there trying to underestimate so they can over deliver or if it is something i should stay away from. see aba. >> i happen to think that will be one of the great growth stories of the year and i think that because they offer food that is good for you. they definitely have to get their act together when it comes to the letters that you see in front, the grades of the

sanitation, having been in the restaurant business, i think they are here o stay and while it is expensive, chipotle was never cheap either. the games that stocks are playing are difficult right now. we just can't be short and it is hard to tell if some of these moves will be permanent or if they are temporary. how about sit on our hands and process all the information coming at us before we take any action. we can sort today. i am breaking down all you need to know with restaurants. then i have the card companies. is it possible for both to remain winners in the same industry gimmick we are seeing a classic case of on a promising and delivering. maybe it is just blowing it out the door with numbers. a strong quarter sent us to the market at a much higher rate. you do not want to miss my exclusive with the ceo to stay

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million. cisco told a story about strong food-service and market service in the restaurant sector along with companies specific initiatives that will boost margins and translates into higher earnings and the stock jumped 7.5%. we got a chance to speak with hurricane, the ceo of sysco corporation. take a look. >> welcome back to met money. >> thank you for having us. great to be back on your show. >> your stock is one of the biggest winners today. i think a lot of it is because your execution, some is because you have tremendous acceleration and revenue growth. how is that possible? >> food away from home is an industry with a good quarter, our sales are up 4%. operating income is up 9%, earnings per share up 11%. that is our 11th consecutive quarter of double-digit earnings per share.

quick touch in the balance sheet, free cash flow of 100%. we announced an increase to our stock a commitment increasing it to 1.25 billion of from 750 million. i know your truck dividends. that is on top of $1 billion we pay per year in dividends. put it all together, that is to point to 5 billion contributed to our stair holders and cisco is winning in the marketplace and glad to be here. >> you are right, very significant for a $40 illion company. you have been conditioned to return capital. there is a chart, i hope people are thinking about it. the food away from home continues to gain share. it is rather monumental, this change in the way people leave their lives, a change that clearly benefits your company. >> i love the chart. hopefully you can do the infographics and show it to the folks watching a show.

for 20+ years food away from home has been up to the right from a market share perspective and that is directly taking share in the grocery store channel. consumers are enjoying eating out, breakfast, lunch, or dinner. there was only one year where that trend is not old but that was the beginning of covid when there was a dislocation in this industry. it is a growing space and it is a big space. let's be clear. has a $50 billion total adjustable market and that is a pie that keeps growing. one of the important points to note for your investors, the big three in this industry represent only 40% of the total share. there is huge opportunity for the largest players in this space to win profitably because this is a business where scale and size matter. >> services i know from my restaurant business, the quality of your brand precedes you. you have been an amazing stewart. one of the things i think is

incredible is it is renovating overseas. i didn't think that was possible. >> we are focused on improving the service we provide our customers. let's start with the most basic, be on time, ship in fall with what that restaurant needs. fill rates inbound to us from our suppliers have improved over the last 18 months as suppliers have snapped back from covid. our assortment has expanded and our ability to serve has improved. on-time delivery has improved. specific to the service element of what you mentioned, you remember them prior conversations we had about cisco your way, we have a loyalty program called cisco perks. we have proven that we deploy those customer centric strategies we drive double- digit increases in growth for those customers. we have taken that program international over to europe. we have more than 500 neighborhoods and cisco norway and more than 14,000 customers enrolled in the loyalty program. >> there have been, or the

first time we have got some big layoffs announced. the layoffs today, obviously has been a consistent drumbeat of people being laid off. that is not the case with cisco. >> it is a growing industry. we are a growing company and we are taking market share. we are hiring at cisco especially within our supply- chain organization as we continue to win share, we hired to meet those needs and we announced on our q1 earnings call 90 days ago increases to our sales count. we have got 7500 commission based sales associates around the world and we are making a meaningful investment in that sales headcount and you know this industry well, this is a relationships business. our sales force, they are culinary professionals, former restaurant owners and we expect them to be in that customers kitchen every week having quality conversations about how we can help that business be successful, that independent

business be successful. >> a lot of people, when i got in the business, you had to go over these boutique guides. cisco was serving cafeterias and big national chains. you have totally shifted your business. you came in to being what the customer wants is what the customer gets and you are not willing to lose a good customer just because they say we wanted to be this extreme boutique. you delivered for them as well. >> exactly. we believe we can serve the entire food away from home sector from the largest national chain restaurant to the hospital to the afeteria to the office building and everything in between. the bread and butter of who we are is serving mom and pop restaurants, more than 100,000 of them across the globe. we have been known for what we call broad-minded goods, dry goods on the truck. we are getting better and better at serving those spoke needs and specialty produce and custom cut in the specialty meat space. we run the largest fresh produce business in the world

for food service. it is called fresh point and we are growing the business significantly. our desire is to win with specialty cell around the room. start with what we are famous for and sell the additional assortment of fresh produce the custom cut protein and we are increasing our focus in ethnic cuisines like italian and . >> i wish people could be there when we first met each other. frankly it was not the cisco that i knew, but you have delivered many more things than i thought, including just so you know, the acceleration here is just rather extraordinary the last two years. i want to congratulate you. this not a time when people felt it was going to be good for the restaurant business, but it is clearly fantastic and you are the guy taking the share. >> i am proud of the team that

we have. we have a very capable team and we have a clear strategy. we have a clear strategy you can execute with excellence and do good things of the company. it is a good day to be at cisco. >> i want to congratulate you because the stocks up the spec for a reason. you are executing at a level that is so much higher than anyone expected. that is what's your leadership to the customers. he decided to service better than they have ever been. i want to thank the ceo of cisco. fantastic job. thank you for coming on. >> thank you for having us today. >> this is a remarkable moment. it is not done this much. this one is going much higher.

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leadership of richard fairbanks. you might think there is nothing special about those credit card companies, but american express and capital one are playing different games. it is almost as if they are different industries. as steve put it, his company has a singular focus on premium customers. capital one has a singular focus on prime customers. they know how to take levels of risk and hard enough interest. me walk you through both quarters so you get what i'm talking about. this may help you try to get your arms around the financials. suddenly we have quite a bit. american express reported a top and bottom line even though their numbers were up year-over- year they fell short of wall street expectations. there were squiggly lines, business came in light while the reserve bill came in higher than expected. that means more deadbeat borrowers are not paying bills,

but those were just all sideshows. all of america's best calling numbers remain well below pre- pandemic levels. how the stock rally could response, we can anticipate a response soon. they gave you an amazing forecast. what matters is the future of wall street. 11% revenue growth overnight. they think they can do 70% earnings. none of this would come as a surprise with long-term targets. this guidance was in line with what they call their long-term aspiration. wall street did not believe those targets were edible. beyond the guidance of the biggest positive was the commentary explaining what american express had a higher or cast. they said they made a conscious decision to accelerate its growth a couple years ago and tried to sustain it going forward. the plan about marketing, plus something more simple.

they needed to understand their needs. on a separate call friday morning, they went into more detail. they listen to people. they create a rewards program better than cashback, which consumers find unsatisfying. they want to convert points into flights. they want access to members only lounges at airports and exclusive restaurant bookings and the only zones at other sporty amounts. anyway the plan has worked for premium customers and younger customers. millennial customers have 60% of the new account. that tells you something. younger customers are choosing higher carts. they love the platinum card and they pay for it. all the other demographics fuel above market growth. younger people like to go out and do things and spend a ton of money. that is why they had 11%

business quote of restaurants. that was eye-popping for me which was fueled by younger people. i think america's best made a great curse for its strategy and it does not come down a bit. the stock did very little and i said people understand this thing is humming. how about capital one connect a different business plan because they are also a bank. america's best capital one missed the headline numbers. they were down 20% year-over- year. the earnings business was because the banks got special assessments last quarter. capital one's purchase volume also fell short of expectations to 4%. why did the stock rally 4.65% on friday? unlike amex that was not the guidance. they do not issue formal guidance. the offset was all about their credit quality metrics which came in better than beer. capital one is across the

quality action. that is not a subprime. this is riskier. look at capital one's allowance coverage. that is the allowance for losses versus loans that currently sits at 8% with the credit card business. that is very hot. american express had to .8% while capital one, it surprised wall street with better it metrics. if you look closely you can see their allowance coverage ratio actually fell from the third quarter to the fourth by 13 basis points. capital one's own reserve bill 206 million was below the 495 billion the analysts were looking for. he will trust fairbank, they know, they would not just put up any number. these are qualified stringent numbers and beyond the metric, their management had positive comic. richard fairbanks is telling us investors have been asking for quite some time when will they

level off. this is the point where we see that happening meeting charge off should move more or less with seasonality in the coming months. that is huge. this man's credibility is supreme. that is why the stock exploded higher. capital one runs higher by extending credit where the credit market is deteriorating and exceeding pre-pandemic levels. that is fantastic news. investors were worried about this. now they can feel confident on the sidelines. i had to choose i would pick america's best ever capital one because america's best has a better growth profile with a more durable business model. i am more comfortable with it. amex sells for 16 times earnings and capital for 10 times earnings. you might like that value play. nothing wrong with paying the best. even when you are looking at the same industry, there are multiple ways to win. america's best and capital one with their different

strategies. ceos know how to run their businesses and execute an incredibly high levels that can work for any investor. i will go to robert in new york. robert. >> i have got to tell you i did well with you this year. i have done very well because of you. if everyone listens to you they will do very well. i just want to say you have to listen to the experts like yourself. i was getting my ferrari service i would not go to the ford dealer in the same thing goes with stocks. i go to the expert jim cramer to guide me in the right direction. >> that is kind of you. remember i am a generalist, i have to cover a lot of different companies. to hear you say that makes me feel good. how can i help you connect >> the stock that we are asking about is predicting a decrease of 51% from $44 a share. the earnings around on february 8th for the fiscal quarter ending december 2023, it is

highly shorted. you made me a ton of honey on this stock at one point because utopic to get in. i almost doubled my money so i need you to guide me on this now. >> i think you are fine. i think the same thing that made me like it well below is the same thing, which is integrity. i think he is terrific the short position is not as big because they covered. if it does come in little, do not be concerned. i think you will still do well in it is one of the few that i really trust because i trust them. even when you are looking at the same industry, there is multiple ways to win. america's best and capital one at different strategies. with our winners. i said at the top today could be the beginning of something special when it comes to the steel industry. i am serving the ceo.

if this week was a hard enough, i am sharing everything you should expect to hear from tomorrow's meeting and from the treasury. all your calls, rapidfire and tonight addition of the lightning round. stay with kramer. i'm andrea, founder of a boutique handbag brand - andi - and this is why i switched to shopify. it's the challenges that we don't expect, like a site going down or the checkout wouldn't work. what's nice about shopify is when i'm with my family, when i'm taking time off, knowing

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>> if you think this economy is weak enough to cut rates, look at the best dealmaker. up 7% on the top five s&p. they reported a magnificent quarter. even versus what they gave last month, this morning they made

positive comments about the long-term trends starting to materialize. can a stop keep climbing connect to check in with the president of new court to find out more about their quarterly. >> thank you. we appreciate you having me. >> this was an amazing quarter and the first thing i want to do, before we drill down into how much money you made for you are talking about megatrends which make me feel like don't look at the quarter, don't look at the year, think about multiple years to do well. >> absolutely. not all of those megatrends suit all of the petition. new court is the largest steel producer in north america and as we look at the volumes, new court makes one out of every four tons produced in the u.s. we think about this, we think about the chips act, we think about structure, newport is the most diverse steelmaker in the united states poised and ready to capitalize on that. we are in the early stages of

that on all three and we are starting to see those flow through our orders into plans. we think bout the chips act. there is 56 semiconductor planes on the books, 18 already under construction for a total value of $370 billion that will be invested. newport will e participating in all that. we are just warming up and with 7 1/2 times, we are one of the most undervalued stocks in wall street with an incredible opportunity for our investors. >> i am glad you brought that up. you did say you took a hard look at u.s. steel, but basically your stock is much cheaper, so why not keep buying your own stock? >> that is what we are going to do. our strategy since i took over is to grow the core and expand. grow our core steelmaking assets and expand into a steel centric business that will operate just outside of the

county of steel. you will see new court by a lot of our stock back and at the end of the day we are not going to overpay for any assets. as we looked at it, we looked and saw some assets might strategically and culturally, but at the end of the day we have a lot of usage for that capital are not the least of which is giving it back. over the last four years we have given back $10 billion to our shareholders. we will continue to reward them for sticking with us and we will continue to grow this company. >> people understand that is 22% of the shares that have been bought back since 2018. one of the things that has me excited is the other part of the money you are using is to build giant sustainable mills that are going to produce all sorts of new steel that will meet the demands particularly of nonresidential construction. >> absolutely. we just kicked off in kentucky operating now, the largest most capable play mill in the united

states. we have broken ground in west virginia on one of the most state-of-the-art, the most sustainable sheet mills anywhere in the nation. we are building in lexington north carolina, expanding in kingman arizona, galvanizing capacity. so we are going to continue to make opportunities and provide capabilities for our customers so they can continue to grow their companies and ultimately reward shareholders. in the last three years we have made more money in the last three years and we have lost 20 combined for so newport is firing on all cylinders and we are just getting warmed up. >> people might say this is faster than it ever has been. he made a point in our interview that you are buying a lot of steel that really is not that sensitive to what the fed does. >> yeah. again, the diversity is we are

consuming a lot of that downstream. so we are touching every sector of the market. one sector may be off and we are seeing some pullback. we are seeing a slowing in the adoption rate. we have others that are firing on all cylinders. we think about the three megatrends, we think about power transmission and grid hardening, rebuilding the entire structure of the united states. newport is poised and ready to capitalize on all of that and we will continue to do that. >> that is a good point. he said earthmovers are not doing well and yet you would think that they are not doing well you would not be doing well, but the fact is you have many different applications and you are not just going to be like an old steel mill putting up buildings. you have got nothing to do. >> we are touching every sector of the economy from automotive to agriculture to energy to all the megatrends. we are moving our company and positioning us for higher

highs. we shared the investment community that we expected it to recycle of about 6.7 billion last year which was the third best year. we did 7.4, so i can over the last four years to return over 30 or make over $30 billion again, the strategy is paying incredible dividends for your viewers, shareholders, customers and team members. >> one last thing, we have a lot of young viewers probably saying wait a second, steel is dirty business. can you remind them who the largest recycler in the western hemisphere is. >> we are one of the fifth largest in the world in terms of recycling. we are one of the cleanest steelmakers in the planet. we don't have to have it. we are already there but we are not stopping. the largest producer in the united states, we will continue to invest in those technologies that help to deliver a net zero product and we are doing that

for many of our customers today. we will continue to push that and continue our readership position in this industry. >> you have been a great leader. we have known you for a long time and it is a remarkable thing you have put together, so many good things. president and ceo, it is great to see you. it is fabulous. >> thank you. great to see you as well. have a great night. >> we are back after the break.

>> it is time. time for the light round. the lightning round is over. are you ready? we start with ej in new york. >> how are you connect >> i am good. how about you? >> i am curious your thoughts on spr why. >> that industry is in up and down. either it be walgreens or cvs, is too hard for this guy. i am taking a hard pass. now we are going to joey. >> this is joey from pennsylvania. 8 1/2% dividend with a two-week high, i was wondering your thoughts on energy transfer. >> it is still not too late to

buy et energy transfer. i am in a charitable mood. let's go to barbara. >> have been reading the jersey shore. the question is on the digital ocean. i am wondering at the stake is on connect >> why is that down so much? may be the multiple is too high. to tell you the truth, i know you are down in the jersey shore with my daughter, that is where she lives. i will have to come back to you. i don't know why that stock is acting as poorly as it does give the fact that business is good let's go to john. >> thank you for taking my call. 10 1/2% yield and down the two week below what are your thoughts connect >> it is really rewarding my dislike. i am going to say something monumental right here. i am going to recommend the

stock verizon. i said it. verizon, that is right. go ahead. i don't care. go write it down and call your mother. let's go to joe. >> first and foremost i want to thank you and the entire event on staff for your support over the years. i was on your show back into thousand 18 for veterans day. it was a privilege to be with you on that day. >> thank you. thank you. somehow my dad heard that. thank you. >> i went to ask you about the stock therapeutics. they are out of switzerland. they had a therapeutic approved for sickle cell. it was upposed to be in the uk and the u.s. >> i have got to tell you i like those guys but i have no

illusions they are losing a lot of money and we don't like to recommend stocks losing money on mad money. we always say as long as you record as it is speculative, you can go for it but i do not recommend that stock up on a mental basis. dave in illinois. >> dr. kramer, i enjoyed your discussion yesterday with the squawk on the street. >> i don't know. i couldn't tell. >> let's talk about the american rock band from the 60s and 70s, i am talking about leon cooper stock pick. >> that stock just never lives. it is not expensive anymore. the ed thing it is not happening, but i am not against it.

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>> weekdays, the power players are here, breaking down the markets with up dates and deep dives. what is moving now and what is next for your money. sarah and carl, many members, weekdays at 11:00 eastern. cnbc. >> sometimes it feels like not only do most of the super high profile companies support this week but tomorrow we get the latest results and while it should not be significant, economic data makes it more pivotal than we expected. tomorrow we get the treasury schedule for the next three months and for that news we turn to josh frost, secretary or financial markets who can at times rival for importance because we need to finance the deficit. the job is to announce a regular schedule of finances, but what does that mean when you have $34 trillion in government debt? i can tell you there are dozens

of bankers who do the most good for the stock market. any longer than that i can send everything offkilter from the rate you pay on your credit card. remember last fall when interest rates were skyrocketing gimmick there was more shorter-term people. the stock market bottomed. it exposed how important frost is during national finances. frost would be a simple bureaucrat but we have not done that for decades, it has only gotten worse. frost might sell debt treasury versus telling that at lousy prices. it is a lockbox and it will be over. the meeting was supposed to be pale in comparison to march with many irate cuts. there is a huge problem. we are seeing the economy humming. the rails and the airlines over the last 48 hours put in

tremendous numbers. you might expect the fed to hit us with one more rate hike, not a cut. there have been no banks, macy's writings. only the 12,000 people being laid off at u.p.s. jumps out at you. so does that put the fed in the hot seat connect inflation is very much under control at a level where the fed could cut embarrassing themselves. i think on march rate cut is off the table. we look at june for three cuts this year. if this stuff keeps up, i don't even know if you want to have a cut. but that would be better served to stand pat. let peace play out. what is the rush gimmick we get the employment report on friday. it shows the unemployment rate remains outrageous going up. it will be obvious to all there is no reason to cut any time soon. i hope that that reiterates they are independent.

if the economy gets too soft, they will cut rates. predict belt and regular most nothing is together. let's hope they recognize those qualities are what they can need to keep delivering. we are just for you here on "ma "last call" starts now. i am come tessa brewer in for brian sullivan. right now on "last call," waiting on powell. tomorrow's fed decision looms. what should you be doing with your money? a capitol hill showdown. big tech ceos prepared to square off over child safety online. under fire, a short seller tanks shares of a for-profit college giant. the ceo of that company will join us to respond. cracks in the chip boom? what has amd shares sinking after hours. rest in peace, w