there's a good chance you see that down there. it's probably a great buy on the way down. >> guy? >> it was a fun show. >> active, you know -- >> by the way, i want to say this, tremendous job today on the "squawk box." >> thank you. >> yeah. >> draftkings on this weakness, melms. >> thank you for "fast." "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. there's always a bull market somewhere. and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you a little money. my job is not just to entertain but to explain and teach you about days like today. so call me at 1-800-743-cnbc. tweet me @jimcramer. the action that ten-year treasury speaks louder than words and that's my takeaway from a day where traders sold

anything, anything with an ounce of economic sensitivity because treasury yields plummeted almost out of nowhere, signaling that what could be a dramatically weaker economy ahead. that's how the dow sank 494 points. s&p plunged and the nasdaq plummeted 2.3%. almost no sector was spared, though, including small cap. the russell 2000 got hit the worst, down over 3%. what a turnabout. it almost seemed like the death knell to last month's big trade. i always tell you the bond market's much bigger and much more powerful than the stock market. bonds can call the tune in the stock market at pivotal times. today was one of those pivotal times because the ten-year treasury is a very visible piece of paper to rely on the big investors in the world and it plummeted in yield crashing to 3.98%. that's the lowest it's been since february. i know it doesn't sound like much but it triggers a lot of other things. why does it matter? because the 10-year is the sum of all of our fears about the

economy. when the economy is too hot, when inflation's roaring the 10-year tells the tale, sending yields soaring. that's usually assign the federal reserve needs to rein in inflation by raising interest rates. but it can be bad too when rates fall. when the 10-year yield crumbles, when it comes down very hard, very fast, that tells us the fed better get starting cutting the darn rates. in fact, it makes them look ill-advised for not cutting at yesterday's meeting. and that's what caused this decline. to me today's terrible action in stocks was a function of the fed not cutting rates yesterday at that federal market committee meeting. the slowdown in the economy the bruin shoots as i call them have gotten much more palpable and they turned into brown fields with whole sectors starting to lie fallow. the ten-year treasury skpek oeg stock market are saying the same thing. jay powell, you got this one wrong. you should have moved yesterday. september's too late. the evidence is too stark. how did you miss it? what were you listening to? didn't they see the 10-year treasury signaling economic danger? all right. take a step back. the fed's always fair game for criticism.

but i feel they never get enough credit for doing anything right. i mean, the second guessers will be shamed if we get a strong employment number tomorrow morning. wasn't it enough that jay powell said they'll cut rates in september if the economy weakens. if inflation seemed so intractable for so long and now they've got it on the ropes pluts soft economy's brand new for heaven's sakes. last year at this time there was almost universal criticism that the fed was poushless to tame inflation, it was too embedded. so i have better things to do with i m time than to lambaste the fed chief for letting the economy wither for seven more weeks. powell wants to give it more time. he lived through the '70s, so did i, when the fed would cut rates every time the economy started slowing then inflation would roar back then. he's a thoughtful man in a world of thoughtless traders. plus it's more than a little foggy out there. the slowdown isn't all that viflk. hey, last night meta platforms reported an extraordinary quarter in large part because it's been able to make its targeted advertising more

efficient than ever. advertising aimed at 3.27 billion daily average users. holy cow. active users i should say. which is up an astoungd 7% year over year. meta's spending a huge amount to have enough computing power and ceo mark zucker berke says he'll shell out maybe ten times that for the next generation of its large language model infrastructure. more on that later. after the close we got the other side. two other mag 7 players that didn't deliver. amazon, well, i'd say the results were imperfect. sales came in light despite real strength in amazon web services. earnings went better than expected. the revenue guidance was weak, although they tend to always do the guiding very conservatively. amazon's got to keep spending on computing if only to keep up with alphabet and more important meta and microsoft. apple, though, put a clean top and bottom line beat despite severe weakness in china. market's so negative on tech they're not going to give apple the benefit of the doubt. they never do. of course we got another story from other tech companies. ceo of arm holdings the gigantic semiconductor design company. i did it this morning and he

talked about there was weakness in the internet of things. huh? that's industrial tech. news reverberated throughout lots of tech. including micron down 7 1/2%. texas instruments down 5%. semiconductor capital equipment giant lamb they had a good quarter left people feeling a bit queasy, though, and after a historic run from 574 last october to 1,130 a few weeks ago that's how you get a 10% haircut. after the close intel, a company i've warned you again and again and again about including yesterday. they missed their quarter on all fronts and they suspended their dividend. it is not safe. tech's been a bastion of strength for so long but now that bastion seems to be on the ropes too. last night i talked about how there's been a downturn in discretionary spending. there morning wayfair, furniture weaker than expected quarter. more important they said this environment is like the great recession. we heard that refrain from rh's gary freedman. his stuff's pretty expensive. wayfair's every man.

jay powell doesn't care if rh hurts customers, can't afford the customers. but wayfair, much more bargain-oriented. that means widespread pain. >> the house of pain. >> travel's been one of the true bright spots in the economy but yesterday marriott said it's seeing weakness. mgm resorts said it's concerned about flagging result sales for its formula 1 race. remember that? that was such a huge hit. the rooms went to absurd levels. and maybe that's what's happened, that's why the stock's down 13% today. you have to wonder if it's a big deal, i don't know, i call it disconcerting. of course there are other signs of weakness that are obvious. china. one more horrendous day for anybody connected with china. i measure the health of the chinese economy by looking at the baltic freight index which gives you shipping rates and they've now been down for ten straight days. you think china couldn't possibly be so important for apple, though, and the chinese economy let's say i don't know how it can get back on track. i don't see it. i'm sick and tired of seeing it might be stimulus. i've given up on that. in large part because the chinese communist party doesn't seem to believe in stimulus either.

sometimes i don't want to overthink this. you can tell how much fear there is by looking at what's going higher. both proktder & gamble and kimberly clark reported bad quarters and both stocks were active like they reported blowouts. abbott labs, for what the plain kif claimed was defective baby formula. that stock's up huge since then including about a had 4% increase today you don't get that kind of action when the economy's humming these are all classic slowdown stocks. bottom line this is a market that's given to violent extremes. it keeps turning on different segments with a vengeance while regard rewarding just a handful of others today was tech's turn to get mauled by the bear and with the amazon revenue miss after the close the beatdown could continue tomorrow at lthoh once again i think it's apple selling down huge like it is tonight would be suboptimal decision-making. i need to go to troy in florida. troy. >> caller: hey, jim cramer. big fan. i don't always agree with you but a big fan. >> well, i'm glad you're a fan of the show. how can i help?

>> caller: i wanted to see what are your thoughts on the next 12 months for ford motor company? >> well, i've got my own reservations about ford. i've decided to sell it for my charitable trust. they have failed to deliver what i expected them to do. let's go to abraham in georgia. >> caller: hey, jim. how are you? >> sorry if i mispronounced your name. that's my bad. >> caller: you said it right. it's okay. >> thank you. >> caller: i've been using -- i've been getting information from your show and it's very helpful. i really appreciate it. i just need to know about the crm. >> sure. and i really appreciate those words. today's hard day because both amazon and am reported. i really want to try to do a good job for and you our viewers. it's just very, very difficult. i would say that salesforce, we trimmed back a little bit because we don't like enterprise. that's enterprise software. but you know what? 240 is where i would probably say it's okay again to buy. can i go to marcus in oregon,

please? marcus. >> caller: hey, jim. thanks so much. love you on "squawk" in the morning. >> thank you very much. >> caller: i'm looking for a shopping list. the week after next is car week in monterey. which is like the biggest, most expensive car show in the world. >> okay. >> caller: thinking about cars. kind of would love to buy ford because it looks pretty cheap but my favorites are still ferrari and tesla. >> i like ferrari. elon musk is trying to portray it frankly as a tech company. if it's a tech company then i think you can buy it right here and not worry about monterey. but i thank you for that information. i didn't know that myself. let's go to odd m in georgia, please. adam. >> caller: mr. jim, what's going on, dude? >> i don't know. tough night. trying to understand apple. trying to understand amazon. trying to do a good job for you. sometimes i don't feel i deliver, and i apologize. you about i'm doing my best. >> caller: you're the man. >> no, i'm not the man today. this is -- four times a year we have this one day and i cannot deliver what i'd like to do.

i cannot deliver the quality product i'd like to. i try. i always try. but it's very tough. how can i help? >> caller: well, we appreciate it. >> thank you. >> caller: i held home depot for 20 years rolling over my dividends the whole time. and i was wondering, is there anything i can do with that? >> i think you just keep doing that. 2.5% yield. it's got a great balance sheet. when the fed starts cutting rates people will start doing more transactions with homes. this stock trades on transactions of homes. when rates go lower, you get more transactions. and that's why a good stock to sold. and below 350 i would buy the stock. look, this market has all of a sudden given us violent extremes. today it's tech's turn to feel the pain. and given amazon's revenue miss after the bell on how no one is going to really care about whether apple says things are fine, could have some more pain tomorrow. on "mad money" tonight, in today's tough tape there was a glimmer of green in the form of cummins. the company achieved record

revenue. what lies ahead for the ceo and for the power part of the business which is really important. and charitable trust reported nextracker. in times like we saw today i like to do business with old school themes. i'm checking in with the best gold miner there is which is agnico-eagle to see where the state of the precious metal stantds. so on a tough day stay with cramer. >> announcer: don't miss a second of "mad money." follow @jim cramer on x. have a question? tweet cramer. hashtag madmentions. send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc. miss setngomhi? head to madmoney.cnbc.com.

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even on a heinous day for the averages including the industrials off of weak manufacturing pmi number there are still companies that manage to buck the trend. take cummins long one of my faves, maker of trum engines and power solutions which soared to a new all-time high today in the wake of a blowout quarter. the stock finished the day up 5%. cummins posted an enormous revenue beat with the -- on top of that management raised their full-year ebidta forecast. classic beat and raise people hence the rally how did they pull this one off how can cummins defy a squirrely economic environment and a soft market freight in class a trucks. let's go straight to the source with the chair and ceo of cummins to hear more about the quarter. welcome back to "mad money." >> thanks, jim, great to be back with you. >> i've got to tell you it was a shock. the numbers were so much better than the companies that you sell to. how is that possible? how do you do that?

>> well, as you noted, we had a really strong beat in our second quarter earnings call earlier today. record revenue for the company in the second quarter. you know, really there's a few factors driving it. our products are performing really well out in the field. we've been able to take capacity up in some of the places that we've had some supply constraints and meet the demand, and the heavy-duty market has held up for us. in the back of that second quarter we had record revenue in buildings -- build rates out of our jamestown engine plant. but other markets are really strong for us as well. medium duty on highway truck. the pickup truck business. and one of the standout performers for us was our power systems business, where we're seeing really strong demand in power generation on the back of data center customer demand and other critical infrastructure, backup power. >> i think you guys are doing a remarkable job in what you're doing. i always like you're taking some of these profits and you're putting them in a lot of new technologies. i think people often said to me why are we lagging in battery technology? i think you're going to close the gap with what you're doing,

correct? >> yeah. i mean, really it's a very exciting time for cummins. while our business is changing, our industry is changing, our destination zero strategy that's really our overarching strategy has seen us invest in advancing engine-based solutions and decarbonize both higher efficiency diesel and alternate fumes. but we're also investing as you noted in some of these zero emissions solutions as the markets start to adopt and as we see customer demand growing. and there's exciting things happening on both sides of those. we're investing at record levels of r&d across our business. we're also investing in manufacturing a billion dollars into our u.s. manufacturing plants for our new helm engine platforms. and then also investments in battery cell with a new partnership amplifies cell technology that we formed with packer and daimler truck and bus. and our own original plant here in columbus, indiana where we're investing not only in the blocks and heads for those new engine platforms but also in

electrified components including battery packs. so you know, it's an exciting time and a lot going on. and really our strategy is playing out for us. >> i think you've got to explain helm to people. helm and natural gas. this is so exciting. we are -- it's so great to hear what you're talking about because obviously you're doing better than a lot of your customers are doing but you're also at the cutting edge of pretty much every -- you're agnostic about fuel. >> right. the great thing about our strategy is we have a range of solutions, right? we're watching how the market is moving in some of these new technologies and investing at the right time for different applications. there's not one solution that's going to work for all of our customers. the zero emissions solution still today the infrastructure to support them, the cost of operating for our customers is a challenge. so these helm engine-based solutions. helm stands for high efficiency low emissions multifuel. those are an important part of growing our best in class engine-based solutions and for some of our customers they want to start moving to these alternate fuels.

so this month we're launching with paccar, the natural gas 15-liter platform and we have customers that are really interested in renewable natural gas as a way to meet their sustainability targets. >> so people know rng actually is -- that would help for scope 3 for decarbonizing many of the big companies like an amazon that needs that kind of thing, correct? >> yeah. amazon, walmart. there's a lot of big companies that have these sustainability goals and they're rung businesses. so what's the most economic solution to meet their needs? what can provide the operating capability that their business needs? so that's what we're really focused on for our customers. >> let's talk about data centers for a second. i know from some of the work that i do with an outfit called rbn they put out really terrific stuff today which is that there are certain areas of the country just don't have enough power anymore. and if the data centers want to be there, particularly actually in the northeast, virginia, they just don't have the power. what can you do to ease the power problem for these data centers that desperately need to open up but the gaining factor

is power? >> exactly. we're seeing a lot of growth in data centers. we have a need for more data storage, ai, gen ai. this is a trend that's going to continue to happen. and having power and having reliable power is critically important for these data center applications. so primarily what cummins is doing today is providing backup power in the form of our generator set so they can ensure that they have the power that they need when they need it and if the grid has any instability or there's power outages, you know, that occur they ensure they have high up time for their customers. >> okay. so tell me about hydrogen, which is my favorite fuel, but we haven't had any success. suddenly you're willing to be in it, which i know is going to be very costly. but a lot of people say it's the ultimate fuel. >> we need hydrogen. hydrogen has to be a part of the answer. and the reason is you've got renewable energy that we need to convert into some kind of fuel, transport and have it available

when we need it. so hydrogen can provide that way to store renewable energy, transport it to where you need to have that fuel. secondly, in certain applications like a heavy-duty truck that's very weight-sensitive, is traveling across the country and has high power, long range, batteries are too expensive, too heavy. they just don't work for that application. so we need hydrogen-based solutions. and we're investing today in hydrogen engines. so we'll be able to burn hydrogen. these helm engine platforms. and then also in fuel cells. i think this is going to be a little bit farther out. the reality is, you know, hydrogen is going to take some time to develop but we're advancing those technologies. and then of course we're also in electric o'lizers for hydrogen production and that's a business we see developing sooner although it has slowed somewhat from what we originally projected. if you go back to our analyst day in may, we took up the guidance for the company overall in terms of revenue and cash flow but we did lower expectations in 2030 for that

accelera business and raised our core business just based on how this transition is playing out. >> one last question. i had someone listening to almost every single trucking company call and with the exception of one that actually just reported almost all of them have been talking about a freight recession. i'm trying to figure out how to jibe what you've done which i used to think of you as a truck engine company, with what they're saying. and is there just some sort of disconnect? i don't get how you can have such a great quarter when they are saying things that really aren't that positive. >> yeah, well, first cummins is a diverse business. so we're in things besides heavy-duty trucking. we are projecting heavy-duty trucking to be down for the year 7% to 12%, predominantly in the second half. so we had that benefit of back orders and strong demand and the product performing really well in the market, and the applications like vocational. there's been strong demand in vocational where cummins is a really strong player. so that really benefited us through the first half. we're projecting to be down 20% in the heavy-duty market in the second half. some of those other cummins markets like medium duty and the

power gen market are going to stay strong for us even into the second half of the year. >> you've got the great mosaic. it's not like the old days. really fantastic work. >> exactly. >> i want to thank you, jennifer rumsey, chair and ceo of cummins. it's so great to have you on the show. >> thanks, jim. >> "mad money's" back after the break. >> announcer: coming up, where does nextracker stand as the world races to decarbonize? cramer's getting the latest on the impact from washington. the data center buildout. housing market and more with the ceo. next.

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all year i've had any eye on nextracker, a technology company that helps the solar industry operate more efficiently. they allow your solar panels to rotate with the sun, maximizing the power generation. this is a stock that's nearly doubled from its ipo price early last year. although lately it's pulled back from its highs as wall street's turned against growth stocks. but because nextracker's all about utility scaled solar projects they're performing better than other solar plays. that's why we bought the stock for the charitable trust. tonight nextracker reported yet another blowout quarter big revenue beat 29-cent earnings beat off a 64-cent basis. a lot of people negative because the management didn't raise their forecast for the current fiscal year and spoke about some new projects being delayed that could zrooin earnings and that's why the stock got hit in after

hours trading. earlier today we checked in with dan shugar. aka shug as we call him around here. co-founder and ceo of nextracker to get a boater read on the results. take a look. >> shug, congratulations and wlp welcome back to "mad money." >> jim, thanks for having us on the program. >> we're thrilled you're here. another great set of numbers. starting right at the top 50% year over year revenue growth. 100 million top line beat. what were the drivers here that made this happen? >> well, jim, we really are optimizing our business annually and really seeking to always meet our customers' schedules. and so strong bookings, customers want material delivered. we delivered and had a 50% growth year on year in our top line. >> can you tell me and our viewers about the benefit of tax credits so they understand? obviously they're bountiful. i think you do well without them. but i do want people to

understand how they work. >> sure. we operate globally. we're in over 40 countries today, jim. and different countries have different tax regimes. in the u.s. there's a 30e% investment tax credit most of our customers enjoy. and that's helped equalize the playing field because fossil fuels and other ways to generate power receive their own benefits. >> but we do know from what you've been saying to us at least by 2030 that solar will be so compelling that we don't really care what nat gas does or what oil does. it's just going to be that much of a price differential because of the technology, because of what you do. >> you know, it's really amazing how much cost reduction has been sustained in solar over the years. to give you a sense, about 15 years ago we did the largest solar power system in the country then, and that was over $7 a watt in that year.

and costs have come down by about a factor of 10, and it's because of the economies of mass production and the learning curve effect that solar's enjoyed such an incredible cost reduction. and that's why solar, which is really a semiconductor technology, is displacing traditional fossil fuels in the same way that computers replaced typewriters and digital cameras replaced film. it's the same exact disruptive technology. >> so at the same time this is i think demonstrated by your backlog, which seems gigantic to me. >> we did enjoy, jim, this quarter an increase in our backlog. and that was in the context of, you know, a very strong revenue quarter. so the fundamentals for solar have never been stronger because solar is the lowest cost way to generate power on most of the earth. and so we've seen places that

you wouldn't necessarily expect solar to be taking off. for example, in the u.s. places like indiana, michigan, we're seeing solar projects. in most of the states across the u.s. we're seeing solar projects in very strong and latin america, australia, africa, the middle east, india. and so we're engaged, nextracker, in all these markets serving customers. >> okay. if that's the case, then i do have to wonder why are you just reiterating your full-year guidance? this quarter's so big that i wouldn't guide up in my first quarter either, and i know you do havean election coming up which could play a role, but are you just be conservative? because otherwise straight line this thing and you would have to take your numbers up pretty big. >> yeah, our fiscal year is young, jim, and we're going into this -- one thing that is true is it does take longer for projects to get fulfilled. projects in our experience don't die but sometimes it takes

longer to get a construction permit or to get permission to connect to the grid. there are so many solar projects that have applied for connection to the electrical grid. if you look around the united states, over 7,000 projects solar and solar plus energy storage projects have applied to be connected to the grid. that represents 80% of what we call the interconnection queue. so the utilities are figuring out ways to streamline their process to evaluate these applications and interconnect. that's one of the largest factors in actually practically hooking up these projects. so our customers' projects can move in as they did to an extent this quarter that we just finished, which is why we had such a strong quarter. or in some cases they can take longer than anticipated. and so going into this year

we're -- that's how we decided to reiterate our guidance. >> understood. there are a lot of people who don't understand -- you talk about the vectors, what could ma thor. what is the sensitivity of your business to interest rates? we know the residential turned out to be an interest rate play. no one thought that. but your company is not as directly impacted by rates. >> right. well, utility scale solar. and thank you for differentiating that in your opening comments. that's really powered on and is doing extremely well as a category. but i'm glad you pointed that out. the economics of solar are the number one factor that can help drive more utility scale solar are lower interest rates. and so because with renewable energy like solar and wind most of the cost over the life of the project is right up front, and that gets amortized out.

there's no fuel. maintenance is very, very low as a cost item. so we're hopeful that the fed does lower rates. we saw some promising signals to that yesterday. but we'll let the government do its jobs. but we're hopeful that rates do start to come back down. and that would be a very strong help to utility scale solar as a category and for nextracker. >> well, excellent. that's what we wanted to know. and it is a pleasure to have you on, shug. and obviously, this is just one more very good quarter. thank you for coming on to "mad money." >> thanks a lot, jim. >> absolutely. that's dan shugar, founder and ceo of nextracker. a stock we own for the charitable trust. you obviously know i like very much. "mad money's" back after the break. >> announcer: coming up, agnico-eagle's shiny quarter beat analyst expectations. ep io 's got the ceo to dig deerntthe numbers and get an outlook for gold. next.

this market's gotten so crazy that you may have missed it when the price of gold briefly broke out above $2,500 an ounce today. that's an all-time high. that means it's time to check in with some of the gold miners like agnico eagle mines which reported last night. these guys delivered a solid quarter with better than expected production lower than expected costs, which is exactly what you want from a gold miner. it led to a third straight quarter of record cash flow. yet despite these impressive numbers the stock still fell 1.5% today. i thinks that mainly because it was up 45% for the year going into the quarter and people were looking for any excuse to maybe take a little profit. let's check in and get a closer

look with ammar al joundi. he is the president and ceo of one of the great performing mine companies of our era, agnico eagle mines. mr. al joundi, welcome to "mad money." good to see you. >> thank you, jim. long-time fan. great to be on your show. >> oh, thank you. i love your company because it makes the numbers, it gives back in the dividend, and there are no surprises. isn't that really what we want out of a gold miner these days? >> that's exactly right. we like to consider ourselves the sleep well at night gold stock. >> well, i think people have to understand that there are a lot of things that can go wrong with gold. a lot of mistakes. what you've been able to do is keep your costs down. the differential between what you're able to get in the gold market versus what you're -- what it costs all in is probably one of the biggest increases i've ever seen of any miner. >> if you take our cash costs and you add on top of that the sustaining capital, jim, our margin's still over 50%.

so that's fantastic. we generated over $500 million of free cash flow this quarter alone. >> so will you take some of that money and go into this sounds like one of the best mines in the world, detour like mines, which is in a very safe area of northeastern ontario. >> it is absolutely one of the best mines in the world. we are planning to get detour to over a million ounces a year, jim. that is one of the top five gold mines in the world. and when you look at the jurisdiction, it is arguably the best gold mine in the world. >> how about upper beaver? another one you're highlighting that sounds like it could be very big. >> upper beaver is a great mine. it's in our back yard. it's not a complex mine. it's a very low-cost mine. when we bring it in, it will have cash costs below $600. and all its sustaining costs with capital, about 750. so the margin on that is pushing

65%, 70% based on our forecasts and compared to spot price. >> that's fantastic. we're gold bugs. i've been a gold bug forever. and costco did something really fabulous. they let us buy gold and don't jack it up. and the demand -- you couldn't get -- every single morning it was gone. the desire to have gold may be much bigger i think than desire to have crypto at these levels. are you seeing that maybe at last people realize you can't -- it's really hard to find gold. it's not like every year you find 10% more gold than there was the year before. >> you know what? all of the mining companies combined globally we had about 2%. that's it. i got in this business, jim, and i have been a long-time fan and you have been a long-time supporter of gold. i got in this business in 1999. gold was $280. it's up, as you mentioned, by a factor of nine. and people have hated it all the way up. but it's been a fantastic

performer. and it's been a fantastic performer for probably some bad reasons. right? government expenditures. you know, we can go on and on. but all the things that moved gold in my opinion from $280 to $2,500, they're still there and they're going to continue to still be there. >> i think you're too modest, sir, because one of the reasons why gold has done so -- gold companies have done so poorly while gold has gone up is that a lot of them just overpromise and then they overdeliver, maybe because they're in different places or they misjudge the labor costs, they misjudge the electricity costs, they misjudge covid, they misjudge jurisdictions. you don't have any of those problems. you just say listen, we're only going to go in areas where we have total control of the costs. >> yeah. >> and that's it. >> you nailed it with the word misjudge. frankly, look, it's hard to go into tough jurisdictions on the top of a mountain range in a place you've never been before

and make solid predictions. the difference with agnico eagle is we don't do that. we don't consider ourselves a global mining company. we understand the logic behind that. but that's not us. what we are, jim, is a heej'll mining company. we go into regions that of course have geelogic potential for multiple mines over multiple decades, but importantly we only go into regions where there's the political stability to actually operate multiple mines for multiple decades. and so when we are giving guidance we're giving guidance about projects in our back yard where we've been operating for decades. you mentioned detour. you know, that mine's been around since the '80s. you mentioned upper beaver. we're going to build it. that's in our back yard. you know, we've known about that asset for decades. so you're exactly right. we've had a better track record of delivering. but i have a huge advantage versus many of my peers, which

is we operate in regions we know well and usually when i get information i have a big advantage in the accuracy of that information, frankly. >> well, then you might be able to help me with a prediction. i usually don't ask the miners to do this. it's not fair. but do you think with the way things are going with the budget deficit in the united states the way things are going with the actual demand to want the metal that it can just continue to outperform here and continue to go higher? >> you know, i'm going to say something a bit odd. i'm 100% sure it will go higher. i don't know where it's going to go. i know that's a strange thing to say. i don't know where it's going to be next month. i don't know where it's going to be in six months. but all of the reasons gold has gone up over the last 25 years by a factor of nine, government spending, uncertainty, people wanting to put their money in safe places, add to that now

central banks around the world thinking okay, hold on a second, i'm buying all these u.s. dollars in case i need it for liquidity but i can be out of the swift system in 24 hours. these are not good things but they are constructive for gold. and as the ceo of a gold company i'm constructive on gold, ironically for bad reasons. >> no, i think you've got -- you're literally sitting on a gold mine, sir. thank you very much. i totally agree with you on everything. and you know that. that's ammar al joundi. he's the president and ceo of agnico eagle mines, which is the best gold miner in the world. thank you, sir. >> thank you. >> "mad money's" back after the break. >> announcer: coming up -- pop open those umbrellas and tee up your toughest questions. cramer takes on all comers in the "lightning round." next.

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it is time! it's time for the "lightning round" on cramer's "mad money"! rapid-fire calls. buy buy buy, sell sell sell. play until you hear this sound and then the "lightning round" is over. time for the "lightning round" on cramer's "mad money." jeff in kentucky. >> caller: boo-yah. wondering what your take was on well. >> wells fargo. do you know that jeff marks and i, we literally discussed pulling the trigger today and buying some wells. it's down way too much from where we sold but we don't want to play the hedge fund game. we think wells should be bought right here. jerry in missouri. >> caller: hey, jim, thanks for

taking my call. >> absolutely. what's going on? >> caller: i want to thank your staff for getting me on the call today. >> absolutely. they're fantastic. >> caller: my stock -- i want to know if my stock is going to rebound to its previous levels or if it's just going to be a battleground stock forever. i'm asking about crowdstrike. >> okay, i think it will be a battleground stock. i don't want to say forever. sentinel one wine garden who i welcome on the show. just had some horrible things to say about its competitor crowdstrike and it drove the stock down to another level. i want to wait till that clears up before i would wade in. let's go to scott in connecticut. stock. >> caller: ba-ba-ba big old boo-yah, jim. i remember watching you on the television in my father's office as a teenager and now i'm watching you for advice on my own portfolio and you're still doing it. it's incredible. >> yeah. when your grandkids are going to watch the show they're going to love it. i'm going to change it up a bit, maybe a longer "lightning round." >> caller: my question is on

stock sticker asts. i bought in at $4.15. the stock has rocketed up to $20 and change -- >> you got horse sense. tomorrow morning take out your cost basis and let the rest run. that way you'll never give back anything. that's the way to play it. let's go to ian in florida. ian. >> caller: boo-yah, jim. >> boo-yah. >> caller: greetings from sunny florida. >> okay. >> caller: third time caller. and very happy investing club member. i wanted to thank you for all the great advice you and jeff give. >> thank you very much. >> caller: really appreciate it. really appreciate it. jim, i've got a question about a ticker that is part of the semiconductor trade. good numbers, very profitable. and pretty much everyone has to go to them if you want semiconductors. but there's a lot of geopolitical risk with it. the ticker symbol is tsm, taiwan semi. >> there is political risk. i am not going to overlook the political risk. but i can tell you it's a great

company. i do think that when all the smoke clears that nvidia will have a lower price to earnings multiple and you should buy nvidia instead of taiwan semi. let's go to tim in michigan. tim. >> caller: hey, jim, i wanted to know your opinion on tyler technologies right now. >> it's a very, very good company. management solutions company. i have explored this company nine ways to sunday and have never pulled the trigger and that is my bad. it's a really good company with a stellar reputation. let's go to brian in new york. brian. >> caller: yes. hey, jim, how are you? >> i am good. how about you? >> caller: good. everything's good here. >> all right. what's up? >> caller: i'm looking at cx. >> that's a dice roll. i've got to tell you. i have no conviction in that company whatsoever right now. i'm sorry. i'd like to back it but it's a dice roll. let's go to paul in connecticut. paul. >> caller: jim, lumen technologies. the stock price has gone parabolic in the last three days -- >> when we see parabolic moves

we cut our position in half and let the rest run. that's what you're going to do tomorrow morning. and that, ladies and gentlemen, is the conclusion of the "lightning round"! >> announcer: the "lightning round" is sponsored by charles schwab. coming up, meta ai's spend weighed on the stock after earnings. but could what the market overlooks today transform the world tomorrow? cramer's giving his take. next.

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buzz kill. i'm talking about the total wet blanket that fell on meta platforms after they reported a truly remarkable quarter last night. it's easy to overlook the artist

formerly known as facebook as an outliar a company with the good fortune tore to have more than 3.2 billion users across its family of apps. with that many eyeballs it's hard not to make a lot of money isn't it? that's true. but there's a lot more going on here including the first example i've heard of a company using artificial intelligence at scale to do something that's visible, valuable and obviously useful that saves companies money. mark zuckerberg out of month wher that's unveiled a service meta ai that's challenging incumbents chatgpt, gemini for the best chatbot service. given it's link to meta's family of apps it's incredibly easy to use you can talk back and forth on your cell phone. if you compare questions and answers it's authoritative and more easy to use compared to the others. but more important looks like he's spending a lot of money and i min mean a huge amount to install video where it might be best used perhaps embedded in meta ai. video is key. it's sticky loved by users and advertisers can't get enough of it. here's how zuckerberg described this use case straight from the conference call and i'm quoting. "it used to be that advertisers came to us with a specific audience they wanted to reach

like a germany age group, geography of interest." he goes on to say eventually we got to the point where our ad system could better predict who would be interested than the advertisers could themselves. right now the advertisers are still -- zuckerberg says that's going to change. advertisers will basically just be able to tell us a business objective and a budget and we're going to do the rest for them, end quote. think of the implications. the chief marketing officer of a consumer packaged goods company that spends hundreds of millions of dollars on advertising with agencies each year will just cut out that middle man and tell meta directly what it wants. and that's it. send them a check. gone will be all the people who developed creative and placed the ads. automate out of existence. they'll be regarded as useful friction in no time. i don't he know how you beat that. it's a terrific use case that's incredibly additive to earnings for any company that uses meta instead of the traditional ad agencies. i point this out because if you

didn't read the mota call and looked at the meltdown in the nasdaq today you'd think average intelligence is a gigantic joke a bubble that's clearly bursting but to me this is the first time i've heard a concrete use case for ai that will most certainly change the world or at least the business world, which is good enough. i bet plenty of companies will stop advertising anywhere else except for meta. it's got 3.2 billion users much larger than any television program and meta now has the machines to create and place those ads too. now, the mega caps like meta are so big they can do real things and it doesn't even matter. meta has the smart ray banz that can post your pictures follow up on your thoughts with ai. you see some commotion in the street ask them what's happening at that address where they are and they'll come back with an answer. the company that makes these sunglasses cannot keep up with the orders according to zuckerberg. for any other business that would be a big deal. but for a member of the marcht seven too small to move the needle. i know we'll remember today as the day where everything but the drug stocks and some other staples rolled over because of the ten-year treasury. like i mentioned at the top. maybe we should remember it as date when we learned that a

whole gigantic industry is about to be turned upside down by ai. nobody cares today. i bet they'll care a lot a year from now when zuckerberg's vision becomes the reality. i like to say there's always a bull market somewhere and i promise to try to find it just for you right here on "mad money." i'm jim cramer. see you next time. and we're still blazing a trail for those who take their fate into their own hands by working hard... at doughp, we serve nostalgia by the scoop. -whoo-whoo! -we're here for the big kid inside of all of us. -...by working smart... [ cuban laughs ] it's hardly ideal dipping conditions. but not with saucemoto. narrator: ...by thinking big... bolos: we want your help to bring deskview to every window around the world. narrator: ...and chasing their dreams... where do your envision your business going? world cookie-dough domination. -wow! -you're an amazing operator. o'leary: but i want a little more equity. i'll do it for 50%. -you've got to be careful. kevin is a vampire. -silence, please. -- captions by vitac -- ♪♪