tv Mad Money CNBC June 27, 2013 11:00pm-12:01am EDT
11:00 pm
>> 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 friend, i'm just trying to make you some money. call me. one week ago, i adopted a radical position.
11:01 pm
i went on this show as well as the "today" show and said right into the teeth of selling, it's worse to stay the course. >> thursday's losses wiped out all the gains from may and june. you look calm as a cucumber. why? >> interest rates are going up. it is nothing worth panicking over. >> those who sold aggressively regret it. 500 positive points in the dow. looks like a no brainer. when you look at the tape today especially after the last couple of sessions. dow climbing, nasdaq jumping. it wasn't easy to do. so smart. what could have been by proprietary insight? i didn't have it. all i had was discipline.
11:02 pm
i felt interest rates could go higher. sent yields on a journey to 3%. almost double where they were earlier. i, too, was fearful that the fed, they got the data wrong. i fretted about the collapse in china. that was no different. but my philosophy is that no one ever made a dime panicking. acting emotionally. it has always been a loser for as long as i've been in this racket. that's now spanning three decades. sure, this could be only the third time in that period where it actually made sense to panic. first one being the day before the '87 crash. second being ahead of the bank stock obliteration. it has always paid to take a deep breath, examine what could go right. not just what can go wrong like everybody else, and sit tight while waiting for better moment to sell stocks. namely by a serious tightening that might be upon us. you got stronger data, now, a week later, what does the stock
11:03 pm
market look like? i think it's starting to sort through the carnage. more important, buyers are actually scrutinizing the individual pieces of merchandise. it's time once again. what are they saying? take today's action. start with conagra, its ceo has been innovating and acquiring with this most recent deal. this market of brands as well as top of the line private label brands reported an excellent number. terrific guidance. why is it so important? because conagra is precisely the bond equivalent stock from last week. hiding from the 3% dividend. yield. which suddenly wasn't enough considering the risk of owning a stock versus the ten year. now, we see if they can play offense as well as defense.
11:04 pm
the rally shows there's still hope for noncyclical companies. bed bath and beyond. here's a household that runs both bed bath and harmon, the drugstore chain my daughter and i fancy. with we know that retail's a big word. if it keeps going higher, that insures consumers spend. but bed bath which was done an astounding 25 this year, revision downward expectations, typically the kiss of death, stock is basically up 15 cents. how about seagate and western digital? commodity companies smash up your computer. you'll see one that came alive when a brokerage house. of course in keeping with the new normal, kd holmes and -- reported fantastic numbers. the buyers didn't want them. housing -- closed down 19 cents.
11:05 pm
holy cow. a month ago, it would have rallied three cents. what happens now? the groups will be strong for the rest of the year. we also have the stocks that are doing nothing. are the markets going to take out its old highs, something that seems possible. we've seen it go down. change the world, here's the bottom line. staying the course last week was right. remembering that no one ever made a dime panicking was correct. except even that discipline trumps emotional conviction. there are higher prices than a week ago. if you so choose, that is if you stayed in the game and only if
11:06 pm
you stayed in the game. stick around, what a show we've got tonight. "mad money" is right back. >> coming up, united we stand. these industry icons serve up your morning joe, dress america and help you get to work, and they're all showing the world that red, white and blue still means business. don't miss cramer's exclusives with the ceos of starbucks, macy's and ford, when the invest in america series continues.
11:09 pm
11:10 pm
>> the nation's biggest department store. >> all week, we've been investing in america. it doesn't get more iconic than a department store chain that is macy's that you just saw. what a terrific way. the chairman and ceo of macy's. look, we can talk about how sales were last week. i don't care. i'm talking about how you reinvented it using technology, and you come up with something, m.o.m. this is how you get a 2017, 2017 take of huge numbers.
11:11 pm
talk about what my macy's omni channel, make the connection, m.o.m. >> my macy's. this is something we have really exclusively. very hard to get in business today, that is an organization structure that includes about 20 people living in 69 cities around the country. they are guiding our decisions on a local level, so the buyers that live in new york city, they're the largest buyer of everybody we sell. ralph lauren, calvin klein, tommy hilfiger, but the decisions about what we buy from ralph lauren or calvin klein varies by location. if we're in brooklyn, they're looking for larger sizes, more muted colors. if i go into queens, they're looking for something quite different in flushing. so getting it right on a local level and the detail level, that's what my macy's is all about. >> i know you don't mention competitors, but if i go into my competitor, largest discounter,
11:12 pm
they want you to form it. >> easy. not only is it easy, it's almost impossible to do it other than the way they do it because we have the people living in those marketplaces, plus, the technology to help guide those decisions. that's huge. that's the "m." >> the enemy is inventory. no one's ever been able to solve it. you may have a solution. >> we may. first of all, i agree with you. when you have 800 macy's department stores out there, trying to get it right, have the exact sleeve length in the right color in every store, it's very complicated. i think we do a very good job because of what i described. at the same time, if i don't get it exactly right, i use the o. that's the omnichannel. i've allowed the locations to ship merchandise from the store to consumers. i love that idea. because if it's not selling in
11:13 pm
memphis, tennessee, that's where i'm going to pull it from, because i'm going to avoid a potential markdown in the future by pulling the slowest selling store as opposed to the local store. so i love this omni channel enabler. >> not big metropolitian areas where they may have a run on something. >> right. but also, jim, they just sell different things at different times. whether is impossible for us to predict, we've seen what's happened around the country this year. if i have normal weather in the south, i can pull it from the north and send it to the south and sell it. this is a real enabler for us. the o in m.o.m. >> the south is very strong for you. now, you're doing something here that i thought would always be impossible. you're trying to make retail sales grew. understand how to make a connection one-on-one with customers. >> right. >> i think you know, the bigger you get, the more difficult that
11:14 pm
becomes to do and i think it's essential for the future. i think customers want to be treated as individuals, not as groups or categories. this localization that effort we have to focus on is critical to that. the second m is about my macy's. about magic selling and magic selling is really that connection with the sales associate to the customer. actively listening to their needs and becoming more knowledgeable about the product and then making that transaction, whether selling it there or through an omnichannel. >> your company always says it. for instance, last quarter, the budget conscious person is challenged, but also, some of the high-end, particularly women's sales customers are challenged. you know that from these people, you look at the tickets at the end of the day. you've got to best view of the psyche. >> we actually get regularly
11:15 pm
contacted by the white house to give a heads up on how the consumer is performing. we've got a lot of access to that. not by household income group, but by part of the country. >> did you tell the president last week? >> he didn't call. but we do try to be as helpful as we can about trends and that's where i'm giving that information that i gave when we announced our third quarter earnings. that is that lower household income consumer is definitely impacted by the payroll tax. so they're making hard decisions. do i buy gasoline in my tank, food on my table or shoes for my kid? >> that trade off, we've heard other retailers say that. at the same time, you feel
11:16 pm
confident enough to be hired. >> listen, for what it's worth, the macy's product is really aspirational to a lot of those customers and so, we sit in that place where as i said, we are the largest seller of almost every brand that you could name in the apparel industry or footwear industry, so we have that aspirational part of our business. >> this footwear industry is curious for me. nike just wrote a good quarter. finish line. these stores are treasured ground. do you feel that confident that you're going to let their sales people into your atmosphere? >> it's working. my out of the box is very, very good. we did not do a very good job with athletic footwear for men and women. we had zero with kids. part of it was the vendor relationships. we just didn't have it with nike. we were an afterthought. we never got michael jordan, kobe bryant, the best sellers
11:17 pm
until late. that was wrong. we can't be that way, so we decided to do a joint venture with finish line. they get all great shoes. >> i've wanted macy's to open a lot of stores, but you have been careful to open and close. when do we flip? when is the goal to have 1,000 stores? >> ask me this question five years ago, and you probably did, i was wondering, do i have too many stores? now that they're fulfillment centers, i'm doing just fine. i'm in 45 states, most of the centers that i want to be in. there's a couple i'm working in. there won't be 100, but i'll continue to open stores. >> there are things you are talking about. i go to pittsburgh now on friday night.
11:18 pm
they've got yellow and black for the steelers. they've got bow ties in raleigh. so what you're saying is that my macy's is now gotten the level of -- 50% margin that people think you're going to top at. this is a long lasting thing. >> third inning, people say where are you in terms of my macy's execution. i changed my mind. i'm back in the dugout. as i said, i go to stores every single week and i bring my executive committee. -i bring my chief marketing. we can all see it together because that's where it happens. in the stores. and i say you know what? look what this store is doing. why are we doing that in raleigh? why weren't we doing that in brooklyn? >> the parade, america's conscious, america's dream, macy's. >> don't forget about the fireworks coming up around the corner. it's a fantastic national commercial for macy's for this
11:19 pm
year's being extended for two hours. >> okay, the chair and president, ceo of macy's. letter m. fabulous company. >> coming up, brewed for success? from a single store in seattle to more than 18,000 locations around the globe, starbucks is now the world leader in serving premier cups of joe. but can its growing assortment of menu items keep the customers coming? don't miss cramer's exclusive with the ceo as our invest in america series continues. hey.
11:20 pm
they're coming. yeah. british. later. sorry. ok...four words... scarecrow in the wind... a baboon... monkey? hot stew saturday!? ronny: hey jimmy, how happy are folks who save hundreds of dollars switching to geico? jimmy: happier than paul revere with a cell phone. ronny: why not? anncr: get happy. get geico. fifteen minutes could save you fifteen percent or more. my name is mike and i quit smoking. chantix... it's a non-nicotine pill. i didn't want nicotine to give up nicotine. [ male announcer ] along with support, chantix (varenicline) is proven to help people quit smoking. [ mike ] when i was taking the chantix, it reduced the urge to smoke. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these, stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems,
11:21 pm
which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these, stop taking chantix and see your doctor right away as some can be life-threatening. tell your doctor if you have a history of heart or blood vessel problems, or if you develop new or worse symptoms. get medical help right away if you have symptoms of a heart attack or stroke. use caution when driving or operating machinery. common side effects include nausea, trouble sleeping and unusual dreams. it feels wonderful. i don't smoke. i don't smoke. [ male announcer ] ask your doctor if chantix is right for you.
11:22 pm
11:23 pm
a stock that gained more than 12,000% from when it came public. if you bought 6,000 shares, you have an investment worth $1.25 million. how great is business? well, our next guest will credit his entire team because i know him, the success does indeed start right at the top, which is why i'm thrilled that howard schultz, the ceo of starbucks in the studio. thank you so much for joining us. >> thanks for the introduction. >> of course. i'm not going to be restrained by the four walls of the spreadsheet tonight. i want to talk about doing good and making money and how the real secret of starbucks success is how you treat people different from many other companies. >> i'm glad you asked me that because the bottom line is just a goal. but the question is, how do you get there? i think for us, going back to the late '80s before we were a public company, when we were dreaming about a national brand, we set the foundation and created a business model that was not better than anyone else, but it was different. that was asking the question,
11:24 pm
how do you create balance between profitability and a social conscience? it began with health care for every single employee, as well as stock options for every employee who works over 20 hours a week. >> which is part time. >> and as a result of that, the essence of starbucks success and equity of the brand was really built inside out, not consumer facing first. but from the culture, the values and guiding principles, and we said we can't exceed the expectations of our customers unless us as leaders and managers exceed the expectations of our people and that's how starbucks was built. >> okay, but that does not just come from the business 101. that comes from at home 101. that is from something you were taught by your mom and dad. >> i would say all of us have experienced things as a kid. i grew up in the projects. i saw first hand the fracturing
11:25 pm
of the american dream and i witnessed it. i still have the scars today. i could stand here today and say success has changed me, but the truth is, i still have the same fear of failure that i had as a kid and what drives me is trying to create the opportunities and the aspiration and business model, that my life story can be your life story, that you can start with nothing in america like i did and my family did and create the american dream and i think the other thing i'd say is that we've learned great lessons. that is success is best when it's shared. profitability is a shallow goal if it doesn't have a real purpose and the purpose has to be to share the profits with others. we're really proud of that, but equally proud of what we're doing in the community, what we're doing with our people and how the company has built itself around a purpose. it's not just about making money. >> and that could be why you make the most money of people in your sector. >> you know, i've been saying for years as a public company,
11:26 pm
and people wouldn't listen at first because i think performance was based on the fact that we had to demonstrate that we could perform. i think the shareholders and the street understand that starbucks brand is a very different kind of company. that goes back to the original premise. >> back to what you said about insecurity. it's still out there. i remember a year and a half, you were saturated. too many stores in america, but the stores you've opened last year are most successful. there can't be cannibalization. >> about two and a half years ago, the same people who probably hated the stock at $8, perhaps love it at $65. but the point is that we had to believe in our brand, in our purpose and our business model and what we've demonstrated in the u.s. alone is that the stores we've opened in america, about 500 in the last two and a half years, are the best performing stores in a decade. while we have opened thousands
11:27 pm
of stores internationally. we've just come back from india, vietnam and china and malaysia where starbucks is just as hot as any brand you can find. it's because of the way we've built the company and the reputation that starbucks has. >> how do you keep inventing? in a recent talk, you talked about the idea that when i look at the original dow 30 from 1928, only one company remains. hard to create a sustainable business. you have to change every single week, month, day. >> our aspiration as a company and i think this is not difficult to say, but it's some people will hold me accountable for it is we want to become one of the most recognized, admired and respected companies in the world. that's why i use ge, the dow 30. >> the other day, you said that you want to be the only one, but you said you were given to hyperbole. >> we have to push for innovation in everything we do
11:28 pm
and we have to be locally relevant in every country we do business, but we also have to be highly relevant in the communities that we serve and for our people. the culture and values and guided principles of the company is what will sustain it. >> you've also become a technology company. i am going to hold this up because i happen to have one of these. you're too modest. >> i love that ad. >> this is the ad in today's paper and i happen to have the peach green tea lemonade and it's just really fabulous. but you're inventing, also taking advantage of the seismic shift in the way the american consumer thinks. you say that they're just smarter. >> there's no question that there's a seismic shift in consumer behavior mainly because of technology and the mobile platform and we've invested heavily in capability and resources and today, starbucks is the number one consumer.
11:29 pm
we process almost 4 million mobile transactions last week. but the question is, what does that mean? meaning is we're giving value to our customers in terms of speed of service and doing things for them that enhance the experience, so innovation is not only on products and category and channel development, but starbucks today and i would say this for any consumer retail company in the world. we have to be as relevant where people are working and playing as we are in our scores. cracking the code on that means that we have to be as innovative outside our stores. >> howard, you say that's today. ten years from now, how about this? a three concept international retailer. coffee, tea and juice. food for each daypart and china as its largest market. >> that's true. we have 1,000 stores in china today. we'll have thousands in the future. we're going to have thousands of stores in india. we're the first retail company
11:30 pm
and consumer brand to have multiple channels in our wholesale stores and cpg. we just had teavana, which has 300 mall stores. we think we can build additional stores. i would say this. that despite the fact we've been public for 20 years and in business for plus 40, that starbucks coffee company is in the early days of its growth and development. i will say there's significant challenges and this is not an easy thing to do. to build the kind of brand that starbucks has built. our aspiration and our hunger and appetite is stronger today than ever before. >> i certainly believe that. you run lean and you run hungry. now, i go social, too, and what do people ask me, how could they put through an increase when coffee prices are full? >> fair question. coffee prices have fallen. the truth of the matter is it's about 11% of our total cost of goods.
11:31 pm
dairy, paper, transportation, labor, health care. all these things. >> health care, you have been pointed in saying it's going to be tough. >> the increase is only 1%. it's not on all beverages. if you're a starbucks gold card holder, you will be able to get real value. we were very careful. in today's world, if you want to be a great company, the currency has got to be transparency. we were very honest with our customers. >> okay, now, i want to talk just in the time we have left. the primary values of starbucks and what they stand for in terms of being an american. >> i tell all your people to stay humble and be hungry. but our values are this. we are a performance-driven company through the lens of humanity. >> you know, i got to get my head around that. >> we are a performance-driven company. we have to make profit. we want to drive revenue and drive profit through the lens of humanity.
11:32 pm
we want to have a conscience. >> thank you so much. that's howard schultz, chairman and president ceo of starbucks. you see why i like the stock, company and the man so much. >> it was an honor. stay with cramer. >> coming up, in the driver's seat? the automaker that gave us the model t more than a century ago is still putting american muscle on highways around the globe, and the ford motor company is burning rubber, racing more than 50% over the past year. cramer sits down with the ceo when "mad money"'s invest in america series continues.
11:36 pm
there's no way to talk about investing without touching the auto industry, a segment of our economy that's going really strong. my favorite auto company it's real clear, my charitable trust owns it, the ford motor company. it's run superbly by alan mullaly, the company's president and ceo. come on in. have a seat. you once explained to me a concept, and it does not lend necessarily to the way wall street likes to think because they're just trying to figure out what's the next penny. profitable growth for all and how that is ford's success. it actually is a long-term theme
11:37 pm
for ford. >> absolutely. it really goes back to henry ford. i remember when you celebrated it, when you found that ad, 1925. took out this advertisement in the saturday evening post and explained he wanted to open up the highways to all mankind so that everybody could participate. everybody could have great cars and trucks, also, great jobs, so everybody would grow. >> that's still working for ford. you've got cars that are affordable, that are smaller, that you make money on. so workers make money, shareholders make money, that don't use a lot of gas. >> absolutely. remember you covered this so well. we made a commitment six years ago and we're going to serve all of our customers around the world. with a complete family of vehicles. and we made that commitment, quality, fuel efficiency, safety. and then we used all the enabling technology and promised
11:38 pm
our customers. >> okay, do i envision a ford that say five years from now, the united states isn't as important, but china is? we don't have to worry about europe? >> clearly, the world is a different situation around the world. united states, very strong market. south america, north america, canada, europe, tough time right now, but we're restructuring. >> you've gotten -- we will not be disappointed. >> and we've also accelerated production of all the vehicles, so we're increasing share. asia pacific and china's the largest market in the world. we're putting in production capability, plus, producing all new vehicles. i think the answer to your question is that henry wanted to operate everywhere around the world, we wanted to be part of the fabric in addition to making good cars and trucks, so every vehicle we make helps our scale so we can offer all the vehicles we make. >> you're putting up how many factories in china right now? >> seven.
11:39 pm
seven in asia pacific and we're covering the country and also, their excitement for the different vehicles, we thought we'd have small suvs, but i think they just absolutely loved that ford lineup. >> let's talk trucks. you've got some numbers today. >> what kind do you have now? >> i bought a ford 350. >> jim, you'd like to talk about that. >> we run and it, if you're a small business person, you need a truck. >> absolutely. >> is that what actually -- housing, what correlates with these incredible sales? how can you have sales better than any time in the last seven years? >> data says that it's perfectly correlatable with the gdp and that goes in a big way with houses. the truck is america. it supports economic development.
11:40 pm
it's our lifestyle. for 37 years and so, it is coming back strong. the may year over year sales is nearly 31%. >> what's the secret here because we've seen styles come and go. we've seen cars be strong and be weak. what's the secret of the f-150? of the f series? >> i think it's been this laser commitment to the brand promise and the consumers because it's such an important vehicle. keep improving it year after year. absolutely. new one today with my sports version, which people are absolutely going to love. it clearly is the center piece, but when we made that commitment to have a full family of vehicles, our sales are up on all the vehicles from the fiesta up to the f series. >> you've been really the most thoughtful intellect about what people want in a car, so i'm just going to go down. do they want style, fuel economy? is it cost or is it this tech initiative that you've told me
11:41 pm
about that i didn't believe? i didn't think it would really up sales, but it is. this is one of the neat things about strategy. you take a point of view of where the world is going. in our case, we decided to focus on quality, fuel efficiency and low emissions. and then the smart pillar. the smart pillar, we talked about it. >> people would be worried about one eye off the road. >> and we took a point of view, connected world, connected car, we're going to have our smart device, one integrated life. that's where we worked with microsoft, we developed sync, your hands are on the wheel. voice activated. your eyes are on the road. you're connected to the internet. it's turned out to be so popular because people want it because they have an integrated life now. i saw a headline, ford, the mobile app of choice. >> i like that. >> now, you have to deal with
11:42 pm
the vicissitudes of the economy. i know memorial day weekend, you put out some fabulous stuff, but a spokesman said this morning, that since the fed moved, sales got a little softer. is that just moment headline risk? >> i think it's near term because we are part of a very large transformation. in our economy. because we've got the economy going now, we're managing the interest rates, managing the rest of the economy. so, i think there's going to be a time where there will be pullback from the stimulus. >> more incentives that you have to offer? >> i don't think so because we got the economy going. they value the trucks and the cars and the average age of vehicles today is nearly 11 years old, so when you buy a new car today, you can actually obsolete economically your older vehicle. >> one of the things that you told me was, we can move to mexico. i have a place in mexico, it
11:43 pm
happens to be right next to a new bmw plant, new japanese plant and close to gm engine plant. they can do anything they want to the environment. i think that's a shame, but that's the way it is. what's the difference between building a car, shipping it up by union pacific. you should if you want profitable growth for shareholders, build it. >> it goes back to the original vision. we contribute to development and security, follow rules both on quality and emissions. every vehicle that we sell helps lower the cost. so i think it's a great model that's different.
11:44 pm
>> i know from speaking to alcoa that they have to put a new plant in the midwest, but we're not going to tell you why. you have such demand for trucks. >> clearly to improve our quality and material, absolutely key technology. >> you're hiring in many places. >> i think it's one of the most exciting things. we've gone through the deepest recession we've had. it's a slow recovery, and we are now over the next couple of years going to hire another 12,000 employees. they're just great jobs and great careers and we, ford and the united states, are competing with the best companies in the world and that's so neat. >> one last question. i know you worked at boeing and turned boeing around. i asked him, dreamliner. did you ever just want to give up?
11:45 pm
ford, you come in, the worst time to come in. you brilliantly refinanced. but did you ever think it's too hard? i can't do it? did you ever have that doubt? >> never. i believe in talented people working together and when you have a compelling vision, everybody's involved, it's only going to turn out great. >> is that the mulally way or the american way or both? >> i think it's the american way and it's the way we all ought to be thinking. >> i totally agree with you on this. i know that we don't want to distance the stock, but you know what? pretty good stock, too. president and ceo of ford motor company. "mad money is back after the break. [ panting ]
11:46 pm
we're headed the same way, right? yeah. ♪ [ panting ] uh... after you. ♪ [ sighs ] [ male announcer ] it's all in how you get there. the srx, from cadillac. awarded best interior design of any luxury brand. lease this 2013 cadillac srx for around $399 per month, with premium care maintenance included. [ to support strong bones.rs trust calcium plus vitamin d and the brand most recommended by... my doctor. my gynecologist. my pharmacist.
11:47 pm
citracal. citracal. [ female announcer ] you trust your doctor. doctors trust citracal. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ [ male announcer ] this store knows how to handle a saturday crowd.
11:48 pm
♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools introduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy. it is time. it's time for the lightning round. rapid fire calls. play to this sound and then lightning round is over.
11:49 pm
are you ready skeedaddy? lynn in wisconsin. lynn? >> yes, boo-yah, jim, from appleton, wisconsin. >> one of the great towns on earth. what's going on? >> ocf! man, that thing has been a horse. can it continue? i don't know. i thought perhaps it would run out of steam, but it's got plenty in the pipe. let's buy. evan in maryland. >> boo-yah from annapolis, maryland. calling about seng. >> it's working. the baltic freight index is now over 1100. i'll stick with that. joey in connecticut. joey? >> boo-yah, dr. cramer. >> thank you. >> how you doing? >> all right. how are you? >> pretty good. the stock i wanted to ask you about, just a few weeks ago released an anti-obesity drug into the market.
11:50 pm
on one of the signs that i look at, looks like it's a pretty good bet. arena pharmaceuticals. >> i thought it would pop on the ama news about obesity. i don't really have an opinion. it's not a buy for me. let's go to jim in new york. jim? >> hey, jim. thanks for taking my call. >> no problem. >> ayr. >> i liked this at the beginning, i was dead wrong. got crushed in it. now, the incredible backlog in airlines of what we learned from jim, can't get a 787 until 2019. those guys are right. joe in indiana. joe? >> hi, jim, thanks for taking my call. my stock is bdx. >> well, you know, it has been a favorite of mine for ages. we've often liked barr, becton and dickinson. i say buy. it's good. it's in the sweet spot. jim in north carolina. jim? >> hey, jim cramer. appreciate your show.
11:51 pm
>> i got a question on the clmt. you recommended it a little over a year ago. i bought it at $22.50. sold it not too long ago at $38. it's dropped back down. it looks to me like a pretty good stock. >> i agree. any that yield more than six, i like. it's fine. van in washington. >> boo-yah, jim cramer. >> wow, i'm liking that stuttering boo-yah. what's going on? >> thank you. what's your take on adn? buy, sell or hold? >> i got to get dave pyatt on because boy, ever since they had that restasis challenge, generic, it's worried me and until i get dave on, i am afraid to pull the trigger. dave in florida, dave? >> boo-yah from tampa. >> yeah. >> i bought a -- back in may on the pullback following their earnings. i like the stock and was thinking about adding to my position.
11:52 pm
11:55 pm
was it a dream or nightmare? a week ago this market was annihilated. revising growth forecast, riots in brazil. these weren't portugal or greece or cyprus. we're talking about huge markets, philippines, indonesia, mexico, pretty much crashed as money came out. these were very real threats to the bull markets. turmoil around around the globe, led to buying cash, not even bonds. but look what's happened since that. on the verge of causing a collapse. actually flooded with liquidity. brazil might expect a coup. a corrupt one. now though the government's making noises and cleaning up its act and taxing the rich and riots have lessened in intensity. philippines had its best rally
11:56 pm
ever, however no change like the federal reserve. looks like they called every news outlet in the world. go to the "wall street journal," "new york times," "washington post," us, whatever. i was thinking they may have checked in with espn. ben bernanke, he could go all the way. the result, we got a market that the result, we got a market that can recover because the international pressure for now and the fed seems to realize its actions had real consequences that may have slowed the two engines that produced the most real job growth here in america. can we really not worry about brazil? it's a huge market. and this once again hot emerging markets, consider what happened last week. get out of them now. after a couple of days, reaching for yield overseas because our market doesn't give you enough income is a sucker's game.
11:57 pm
11:59 pm
12:00 am
tune in to a new "american greed" tonight. i want to thank the iconic ceos, great americans. you make cramerica proud. i'm jim cramer and i will see you tomorrow. >> narrator: in this episode of "american greed," scandal rocks the world of college football. >> the mighty miami hurricanes dealing with a category-5 controversy involving cash payments and prostitutes. >> narrator: meet nevin shapiro, the man who kicked off the controversy with stunning admissions of gifts to players and broken ncaa rules. >> he's a hustler. you can tell he's a hustler. >> narrator: a big-time part of the miami scene, shapiro lives a life of tropical indulgence. >> south beach is known for its nightlife, yet mr. shapiro was known as "mr. big" in south beach. >> narrator: he takes in nearly $1 billion with false pres
184 Views
IN COLLECTIONS
CNBC Television Archive Television Archive News Search ServiceUploaded by TV Archive on