a longtime watcher, gavin. >> steve >> i went with the ipo today, viking holdings, and i'm going to go see michael on sunday up in rye at his coffee shop. >> called sunshine >> there you go. >> thanks for watching "fast money. don't go awhnyere. "mad money" with jim cramer starts right now my mission is simple, to make you money. i'm here to level the playing field for all investors. i promise to help you find it, mad money starts now. hey i am jim cramer welcome to mad money. i'm just trying to make you a little money. it's not just a job to educate but to entertain and teach. i get you to watch. tweet me at jim cramer.

we could sink our pals for giving clear signed today when they spoke at the federal market committee leaving these things unchanged. he might've well done so, it's really this simple you could timestamp the worse of the fed chief at his press conference with a charged s&p rebound he made some comments right then to new heights it was perfectly tied that you had no wonder about how he got into the --. to he became the bulls friend for a while. going into he close gavel, things are very skittish but you know what, lately we've been worried about persistent

inflation and shelter, cars, and foodstuffs which could have forced the fed to raise rates again. there are signs of softness, it's all over the place but fortunately jay powell is worried more about the brown trees than the green trees. he's not talking about tightening he thinks that inflation will go away on its own making it more of a dove than a hawk. the worst-case scenario for stocks he actually made a joke. he said he didn't see this or the stack inflation. he said he's going to slow down the bond sales. someone has been pushing long- term interest rates higher because this creates a flood of supply. when there's too much and they've got to go to a new level of drops than the rates go higher but he said he will

pull back on that but that's another sign. he also said he's looking for a rate cut. but he was badgered repeatedly by the press about whether the fed may need to raise the rates again but he's too smart and he didn't take the bait and with a little bit of sparring he took the dreaded rate hike scenario off of the table and the market rally. i hate even talking about that, it's a language, it's not jargon, created by the fed governors and the reports. let's just chatter and think it's funny but we rallied because as i mentioned the fed is not going to dump considerable bond work but we rallied because the experts in the fed came around to the idea that powell has gotten more hawkish of late. this was based on the idea that the fed was done tightening but the speakers were wrong. they were trying to gain the federal reserve's but it was

always going to be wrong. they said we were going to get six rate cut then they said three and then zero than they were talking about an actual hike. here's where they were each time, that is good news for the market but it could be more heated for the rest of the week as we had to bet that they were clued into the friday report even though with seeger, what wins in the environment? everything is going to work here. buyers flock to j&j and then you could pay the lawsuits over the allegations of the traces of asbestos in the town that they say cost cancer. the stocks are so low i think it could get higher if they could reach a comprehensive settlement. the buyers flock to the capital stocks because of the huge

turnaround. dupont saw almost its entire product line accelerate. everything from water and semiconductors. buyers also reached for the homebuilders again. that's what they do and they think that the could be a rate cut. remember my wrap on the homebuilders, they are winners every time the fed speaks because that's what puts the mortgage rates down. the buyers like tech. they like tech companies which reported great numbers recently with stocks that had been pushed down. they look to buy these in a general market pulled out like we had. the first tech they love, they reach for amazon which had a tremendous quarter. you have to love that trick of positives. the got so much going for them. it was true on the list. a smash hit.

read the release cause you'll be blown away. the second is alphabet, sure enough you've got a big week from yesterday. they've got some amazing properties that youtube is doing great. what a good artificial intelligence platform. third is microsoft. they're just getting killed. the level below where it was training for that amazing quarter i think there's nothing better than owning microsoft and it got to check the box. beyond tech the stocks had been so strong than they would hit rate cuts even though the stocks should require rate cuts. more on what could be the best bank to buy later on in the show. what's not working? some of the semiconductors. people focusing on the embedded business and gaining business.

looking at this data center, the forecast of generative ai chips. i think the ceo is being conservative so i won't swipe the program. perhaps they fear supermicro could have to raise taxes largely in line with data revenues in line. freaking out the whole infrastructure. we may have to raise money and that's part of the stock but there's no data centers to slow down, none that anyone could find it and yet people are looking for one which brings me to nvidia. these days they seem to rally far less often than they go down, doesn't it? even everyone in the large tent of customers desperately need their chips. note that with oracle and absolutely from meta-they are

spending a fortune on the stuff but apparently it's not enough i think they need anything connected to the data centers and should be avoided. my view is to own it. i understand if people are going to sell because that's what they do. later on in the show we are talking about apple because you see the same thing. you want to dodge a quarter, be my guest. i disagree with the nvidia verdict because i know it's severe. it says dump the semis and by the users of this stent but i've rallied against this endlessly as they tend to interpret this everywhere. this could always be more important than what has happened but the good news they meet eight times a year but friday we get the employment report and that's a whole other set of macro commentators who will second-guess jay powell for what he said today. 48 hours later.

here's my view, tune them out. there's only one person worth listening to in the entire universe when it comes to this. the plain speaking fed sheet fed chief himself jay powell. he stopped raising rates and the rates got higher again. they are helping to slow the economy. powell took all of this in and recognized at the speeds he doesn't need to raise interest rates and he's consistent which puts them in a better position. and so we fret about apple, addressed later in the show, we get concerned we may have strong wage growth data on friday's drop report which would cause a group of critics to question his judgment which is why we reversed in the last hour of trade as if once again he doesn't mean what he says. going to gary and my

homestead of pennsylvania. gary. >> i'm in the house of shame with bristol-myers over the last couple of months. shed some wisdom on me, love your show. i do here's the problem. they told you of red j.p. morgan the dividend is safe. that was a move out. these prices, i think that the call is on. i don't see anything in the hopper it feels like pfizer. let's go to max who's in illinois. max. >> jimbo. how's it going? >> not bad how about you? >> i'm good. so you're always preaching stocks that are best in class. for me there's no more promising than costco. what say you? >> i like cosco very much. we got a new ceo nd a new cfo and they will always have people saying the stock pay the

dividend and it's over but i think the stock is more on basing which makes me like it. i think jay powell realizes these chutes are doing more for him. considering this in the face of endless fed speak, this tells me you should hang on to stocks and when we get pullbacks then you want to buy google or amazon . you want to buy meta-even, how about that? and microsoft for certain. jay powell knows what he's doing and the people who talk about him though, they don't. i'm reporting a strong quarter, could wingstop be the winner in this space? i've got my alma mater hit a new all-time high. i will look at the momentum continue. i will break down numbers with the ceo to get a better sense of where the company stands.

so stay with jim cramer. >> don't miss a second of mad money follow at jim cramer on x. send an email to mad money at cnbc.com. power e*trade's easy to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley

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norman, bad news... and cei never graduatedc.edu from med school. what? but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal... that's like $20 a month per unlimited line... i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. doc? what we make of these numbers from wingstop? numbers were just excellent. we delivered another great quarter. 77% basis as we get used to that. the numbers were spectacular.

looking at less than 13%. after rallying to a new all- time high stocks saw a new wave of profit. and i think that is because wingstop came in hot like it's wings. even after the death it's all up 50% compared to last year. the president and ceo of wingstop. welcome back to mad money. >> hello, jim. thank you for having me. >> i got a theory and the theory is if you offer incredible value and you haven't raised your prices a lot people like going there and like the convenience of it you'll hit it out of the park and it just so happens that a handful of people have that formula and you're one of them. >> that's right. we've been measuring record highs for the brand and

quality, value, we think consumers are rewarding got for us. we deliver 21.6% same-store sales growth so it's important to note all of that was driven by a transaction growth this is on top of 20 points and transaction growth which makes you want to see the one of last year. >> i was criticized earlier today by my wife who said you've got to stop using the word throughput and they don't know about transactions because they just know that something we pay at the register but what you are really saying you've got more people going in and you're not raising prices to make the numbers. >> that's right. we have a lot more people coming into wingstop. in fact in the first quarter we set a record high number of guests that we brought into the brand which makes us excited for the effectiveness of our

strategy. one that we find is working. systemwide sales grew 37% which created a flywheel within the national advertising fund to continue to bring the top of mind awareness wild while we deliver a great guest experience that guests come to wingstop four. >> here's an example of what i think people are missing, we talk about how tb doesn't do anything and they don't watch it the fact is they only watch the sport. do you think will come in, of course not. what makes it so there's anything worth watching other them sports? that seems to be the only place you should advertise on. >> that's right. it's a strategy that we landed into a couple of years ago and it's been paying dividends. we are leaning into life sports in the first quarter on the nfl playoffs for the first time as a brand which is exciting but

yet we were only into spots on a weekend when there were four games so we've got a ton of room to advertise for and drive the brand awareness to bring consumers in to wingstop. >> let's talk about what you're doing with technology. i had a discussion this morning you could call with starbucks. let's say they've got a bit of a strategy trying to get everyone in and out but it's not really worked in the got a mobile ordering thing but that's not really working so what are you doing in technologies so when i go to wingstop i'm not waiting outside while people are trying to figure out if i should have dark meat or white meat or something like that? >> yes jim, investing in technology isn't anything new for wingstop. q1, 86% of our sales were digital. we have amassed a database of 40 million users strong and invested in the database to enrich that data to inform our marketing strategy and inform

to personalize the guests ordering experience and that's what my wingstop is going to unlock, this will allow us to lead into the database we have and into the hyper personalization creating a best in class digital ordering experiencing bringing guests back more often and to dry a higher average check. >> are there areas that have enough wingstop's that they should get another and f i wanted to be a franchise that i would want to open there because it would be cannibalizing? >> that's part of the exciting thing around the story is the amount of runway we've got in front of us. well over triple our current prep pair, 2000 globally. a ton of growth. our most mature market is dallas-fort worth. we continue to open restaurants and continue to see this grow within the businesses that are doing well in dallas and we see

all the room to expand the footprint with a ton of demand for growth with our brand partners. he saw us increase the outlook for units development and that's driven by the pace of sites that are coming into our pipeline which showcases the excitement for growth. >> another question . you have something special. it's hard to pin down. there is a love for the brand and that's a lot harder than people just saying you know what i will add a wing store, is it? >> that's right. we are celebrating our 30th year of being in business this summer which we are excited about but we've built almost a cult following. we see the opportunity to make wingstop more mainstream because as you mentioned, consumers want to pay for and use those discretionary dollars for quality and for value. that's something we deliver on. the made-to-order, crafted,

high quality experience. >> you talked about a uv, the average unit of volume to get to $2 million. maybe aaa could do it. you don't let everyone be to you, it's hard to get a franchise with wingstop you've got to show ou are successful but if i got wingstop and i was accepted into the inner circle, how much do i make when you get to $2 million for the unifier? >> is the most compelling unit of an economic model. on average a half-million dollar investment. our brand partners are seeing a payback in less than two years, a cash on cash return of 70%. >> those of us who've been in the restaurant business we only dream of those returns.

thank you and it's good to see was always. >> as good as goldman? cramer goes off the charts with a look at the banking heavyweight. that's next. the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo.

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as we all know things have gotten more difficult over the last four months but there have been consistent winners out there but you've got to know where to look. these are companies that could thrive in a company full of brown chutes, hire for longer stocks with plenty of room to run. you could still do well if the fed does what it's said today which means cut rates. search for stocks with the best momentum because that's what's working. that's why we are going off the charts. the trip technician and the founder of the stock market mentor and has his own podcast. he pounded the table on nvidia and the stocks have pulled back from their highs of late. he made his chart inspired recommendations. he's focused on the best of the

financials. many of these have been good performers but until recently they were largely thought of through the media. over the last couple of weeks the magnificent seven, they rebounded and they came back and this formed pretty hard. i think people are walking away from that in this environment. they believe the best of the banks following the best intentions, goldman sachs, it hit an all-time high. it's poised to go higher. they reported a great quarter making a big comeback with a lot of ipos these days. they were able to make a lot of money even when the ipos had dried up. all key revenue sources you could only imagine how proper they would get.

they started turning these things around which is why we on the other investment paint bank for the investment trust. morgan stanley. they have more ipos. they give you more exposure and it's back emphasizing the wealthy client advisory business which happens to be ia a division i toiled in for many years. starting with a low term with the charts to get perspective. the goldman stock has been in a basing pattern over 2 1/2 years. this is stuck in a broad trading range. basically drifting sideways. just the same kind of thing you could see with a moving average. they've been basically knifing right through. this is also pretty flat. that's a good thing though because this is what it looks like when the stock build up a

base and that could turn into a trampoline. anyone who would sell at the high-end of the range has already sold. when buyers get interested in the stock could soar so we are always looking for the basing pattern when we do technical work on stocks. you could see how they've been moving sideways for the better part of the last four months but this is the point where the base has gotten firmed up. the stock has printing a series of higher lows along the way. one rule of analysis is the longer the stock builds a base the more it supports a major rule moving higher. that had a strong base buildup. a few weeks ago the stock ran higher on high-volume creating a new all-time high because the last quarter was terrific but they had just gotten started and they were on the upside. a lot of people might say this has been so great on late but that's not what he's saying, he's saying the opposite.

this one, zoom in, this is the daily chart. you could see how they got washed out in october. they got pulled down through $300. this is where you want to look. this was a brig a big breakdown. they are so fickle. people threw in the towel and gave up on this stock. it was a very ugly moment for the market but a great buying opportunity even though was saying that this is not the franchise that we remember. the stock had been's wrong to the point where you could see obvious signs of institutional buying you know that it's a big buy-in with institutional money managers because when they rally they do so on extremely high volumes. this is quite the crossover. they need to buy massive monies of stock or it will be too small to move the needle

meaning it's not meaningful enough to keep on the portfolio. they started dancing around in tight range during mid december spending the next few months holding their buckets, 50 per day and on april 12, the sellers came out and pushed the stock down, they pushed the stock down to the point where they tested the floor through the 50 day. remember when you've got that, that is the 50 day, the red. it was supported and it held. this reveals an additional pullback. with weekly charts shouldering a multiyear base, they started to run with tight consolidation. there some things they should keep running. it's not an expensive stock. it feels like everything's being put up for sale even as their stock is just fine but in this environment they need to be patient and i agree with them, in an ideal world we recommend pulling back to 204

and 10 you're talking about right here. it's not too much to ask. i like the pullback right there. that isn't pulling the trigger here. if you get a 1727 pullback that would put the stock closer to the moving average which should act as the powerful floor or drawing a line in the sand. they need the pullback that's unlikely because their stock is so red-hot which means for me buying some here. >> there's the big caveat, there's the technical analysts, if the stock drops below the moving average it means the floor is falling out from underneath everything and wrecks the whole thesis and if it goes below $400 something has gone wrong so he recommends an order of that level. you can always buy the stock back at a lower level but i do

not like the stop losses. i like to be in their monitoring my portfolio. things are looking up for goldman sachs. this could be the kind of stock that works here rather than waiting for pullback on a small position here hopefully they could buy more shares on the way down but charts by fitzpatrick says they just got their group back. and they will have more room to run and it wouldn't surprise me if that wasn't exactly what it has. let's take some calls. let's go to reston in california. reston. >> bouillon jim . i've got a small little company on the west coast called paypal. into improving guidance, they have a background with the current leadership, is this stock a good play? >> i did work on this last

night that i was apprised the stock finished down after being up by a couple but i'm with you. i think that this guy, alex, just fantastic. i was so impressed and that was eight points ago. i think you've got something with paypal because management has this inexpensive stock. it's right for a merger. i'm with you. goldman sachs going higher in this would not surprise me. the numbers are very good. much more mad money. we've got some rates that had investors concerned that maybe this could be an opportunity but let's get to the bottom of this to see if these journey could be viable. >> i'm certain of what areas

in the market are impacted. you've got to be careful for the big earners report where you could face the same problems upgraded yesterday by an analyst who had been wrong for a long time. we have a rapidfire of tonight's edition of the lightning round so stay with cramer. - "best thing i've ever done." that's what freddie told me. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same

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these were results, you know i love this one. the retail real estate investment trust that owns dozens of outlet centers where you could find terrific bargains. i think this was a solid quarter. the funding from operation per square the real estate investment earnings. they did once better than expected

there's termination fees with a sizable increase year after year. they saw 5.2% increase in net operating income which was definitively positive so people don't really know what to make of this. i think that this one does a great job in the environment with price conscious consumers and where they are shopping. i'm enticed by the yield. let's go to the resident and ceo of tanger. we don't have high-frequency traders watching. they want consistent income with dividends that are boosted. a 4% yield. you are all of those right now. >> that's right. we raised our dividend again it is important to return to

shareholders , our investors could either take those taxes and put them away or reinvest in the company that hopefully that's what they choose to do. >> explained to them, put me in the boardroom where you proposed that increase in your distribution. what does this sound like? what do you tell people? >> look at the future growth and where we are going. we got a great growth story. we have a fantastic team we've assembled over the last three or four years. we've come out from covid like a shotgun. there's more growth embedded not only in the existing portfolio but in the assets we purchased and the national asset we took out of the ground last quarter. >> discussing new assets , they haven't been tanger, they got open spaces . they may have say, i don't want to pick on anybody but express just felt for bankruptcy.

>> they've renewed existing tenants at 95% so when the idea comes up for renewal we get higher rents but we are renewing the tenant so we are seeing more upside in placing a tenant that may be oversized or hasn't invested in the store. whose sales may be started to decline so it's up to us, the stewards of our properties, merchandisers of our assets to replace this tenant with a better producing tenant and the upside is we are getting rid of that tenant but maybe we are downsizing them and putting them somewhere else in the shopping center and when they move of the shopping center you've got a new store, a new concept and better productivity. >> i start thinking , my wife would be moving out east soon

so that means when it's raining she goes to one of your outlets. we find anything new? there's a novelty element to going to a different outlet. >> in the center , we have a number of new tenants. where elevating the portfolio which is great. we have some food and beverage retailers that will join us. we've done a great job of adding furniture. it's been a great driver of traffic. when you build a shopping center and you sure tiger woods is putting a pop up store next door. it's a great draw bringing tourists in but how do we create our own draw? we use our average and use those vacancies to put exciting tenants in which will draw a different customer that never came to these centers before. new customer or local customer, we want them to shop with us more frequently than they do. then they stay longer and they

ultimately spend more. >> there's some high-end stores that have resistance because i find the highest of retail is in one of these outlets these days. >> i don't think that there is really a price resistance for the consumer. what makes the shopping experience and outlet center exciting for the consumers customers aspiration, they may come in thinking they could only afford a certain price point but if they are in that environment, all brands will be accessible to them. you might have thought coach or kate spade was out of reach and when you walk to the store because the sign outside says everyday pricing at 40% off, it becomes reachable. you may have wanted to buy into the product your whole life and now you have the opportunity to do so. retailers want to be in our assets.

they understand it's a great talking point for us as the sellers of the space to say listen you might have the opportunity to get a whole new customer that you won't get anywhere else. here you could see a new customer and trade them up through the ecosystem and now you could make them a customer for life. >> have a friend who watches the show and he said okay look, i get some of these, huntsville, really? no one's going to huntsville for tourism. i said, the guy knows more than i do what do you do when you go to huntsville? >> you see baseball. it's rocket city, the home of the space camp. so there's a lot of growth in huntsville, a lot of tourism. we see the office market on fire. the fact that they are growing the office market. what we saw and what we are fortunate to see is a tremendous amount of growth. high price points and we see

the opportunity where we could bring in higher end retailers. we announced on the earnings call we signed our first lease in huntsville we only had the project for three months. it's a great retailer. they are not in the tanger ecosystem yet so this was the huntsville property which will now hopefully have the opportunity to have a conversation with them to take them through the property center. >> my wife is away right now. she'd say i'm going to huntsville with my girlfriends and we will buy property. >> i'm getting too old for the conversation with her because i'm tired of that. >> 4% yield in great growth. mad money is back after this break. >> when we return, master the markets one stock at a time . the lightning round is next.

♪ (upbeat rock music) ♪ (♪♪) [phone rings] hey, jim. i'll definitely get those to you first thing monday. bye. conquer the weekend, in the all-new hyundai santa fe.

>> lightning round is sponsored by charles schwab. trade brilliantly. it's time for the lightning round. play the sound. and the lightning round is up. let's start with ethan in connecticut. ethan. >> thank you, jim. i appreciate all you've done . >> you are very kind. it's been a tough couple of days so i needed to hear that. what's going on? >> you're doing great. >> you've got to bring your wrench in there. winner winner chicken dinner.

let's go to gregory in california. gregory. >> he didn't pull any punches. >> i bought a small position in the company. i'm down by 20%. so i don't know if i should buy some more or hold over the next few weeks. what will happen for the sun to shine on the next track? >> this is coming down. i wouldn't mess around. i need to go to greg in new jersey. greg. >> what's going on? >> they are reporting at the

end of this month in the 16 times forward earning, is this a good entry point? >> it's terrific. at one point it was down big today that's a good stock. let's go to dave in illinois. dave. >> you were bullish last week. is it still bullish now? >> am i ever. i think it's terrific. he learned from it and he will buy it and he's the man to see. let's go to alan in florida. >> hey jim. it's good to talk to you again. two quick questions for you one is what do you think the long- term output is and do you think that the outcome of the selection will have an impact? >> if president trump wins and they will probably rollback.

that would be good. more importantly we need a buyback. with that is the end of the lightning round. >> the lightning round is sponsored by charles schwab. >> coming up, it's the one headwind that could stop any stock in its tracks but don't let these troubles slow you down. stick with kramer. cramer. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders.

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>> if there's weakness in china it was going to take your company's stock down if you do business there. on the eve of apple support

they hold more than anything else when it comes to that great companies numbers that we are about to see. they simply cut too much chinese exposure to withstand weakness. when there's a problem, wall street assumes is an existential crisis it's at the end of the road including apple despite its insistence to make products for china by china. i know that hope should not be part of the equation in this business but i hope that the only problem here is a weak chinese consumer and not a hostile government. apple created so many jobs over there. either way we have ample evidence of what will happen to your stock when you admit to chinese weakness. consider the stock of estie lauder, we saw stocks plummet 13% even though they've got a great quarter. for mainland china we return to organic sales growth, albeit a slower pace than expected amid the overall soft prestige beauty industry. the cfo added in mainland china we returned to organic sales.

i thought the stock should have been up because estie lauder finally put an end to the excess and majority that had been dragging them down but 28% of their sales, the stock was obliterated. i wish i could say that this was one off but it's just the opposite. starbucks reported sales were down by 11% in china. that pulverized the stock 60%. proctor and gamble talking about them getting weekend. tapestry and nike has seen choppy results. not everyone has been crushed by china. the pond saw a positive swing in chinese business dupont. apple is a quintessential consumer company which has me

so concerned about the trajectory of the stock if they show a big drop off which i fear they most definitely will. the rest of the world is so much bigger than china and it won't amount to a hill of beans of their sales are weak. this represents 19% of their business so if you could control the narrative than they could focus on china. the stocks would go lower. china remains a country where there is a huge growing middle class where they could gain another quarter million people over the next few years. that's a ton of potential customers for apple but what if they are savers and not spenders? what if they couldn't afford an iphone or if they don't want to do anything? these are real concerns. adding in the chinese government, you could tell it could be too hard for apple to turn these things around. you can't take china with a grain of salt until you stop doing business only then will

it not matter but of course, you've got to give up some of the massive amount of earnings to get there. until then, if you've got bad numbers then your stock is going lower no matter what and no matter how great the rest of the world might be. i'd like to say there's always a market right now on last call, is the a.i. air coming out of the a.i. trade? stocks that could be signaling a shift. elon musk showing senior leadership the door. why other companies could follow his, quote, hard-core approach. carvana, booming. shares up 40%, now. we will tell you the number that is making investors so happy. a major crack at a major real estate market . we have the state and the numbers you've got to hear.