tv Mad Money CNBC March 31, 2017 6:00pm-7:01pm EDT
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facebook and reemploy theme into reits. >> the 145 call on facebook is the way to go. >> south carolina outright sets up an all carolina finalist at the final. watch it monday night. >> our time is it monday night. >> thanks for watching, "mad money" 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. some people want to make friends, i want to make you some money. my job is not just to train, you to educate and teach you. call me or tweet me @jim cramcr. today was a bit of a downer, dow
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sipping .6%. but for the quarter, the dow rallied 900 points, the s&p climbed 5.53%, and nasdaq pole-vaulted 9.82%. you can debate whether that's all on trump, something i find hard to believe because so many of the world's stock markets were equally strong, stronger than ours. but once again, the negative nancys just got it plain wrong, and many of the gainers were something that was totally accessible to you home gamers, even with those guys that are trying to get in your head, i'm talking about apple, amazon and facebook facing all-time highs. trump's too erratic to get things done. the market's gotten to expensive, a vicious trade war is about to break out and the
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feds now against the bulls. i say get used to these arguments. they'll probably be with us all year. just remember what this market, though, was able to accomplish despite these very powerful arguments and perhaps keep that in mind as the beginning of is second quarter sets in. with that out of the way, what we'll be looking at next week, monday, never used to care about this, but get this, monday we got a couple of fed speakers, bill dudley, new him when i was at goldman, i care what they have to say, because we're a few short weeks away from earnings season and the banks report first, the bulls need this key leadership proof to come back to life. and the only way the banks do that is if the feds decide to race rates at least twice more
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this year, so the financials can make more money off your deposits. longer term interest rates are coming down and that's causing some investors to freak out. isn't it amazing that we actually root for hikes now? but we have to because the financiers are part of the market and we can't afford to lose these two. let's hear what the fed has to say. speaking of slowdowns, there's a stock investors flock to when there's a market downturn, i'm talking about mccormick, mccormick has an analyst meeting on tuesday. if mccormick tells a great story and the stock rallies big, you know what? that's a sign investors are going more bearish. but if the stock does nothing
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but go down, oddly that's good forrest of the market. why? because if mccormick stocks go down, investors are buying into the expansion theory. if that's a fact, they're still going to be buying, trump stocks, which handled this market so well. wednesday morning, we get results from walgreen's and i got to tell you, this one's become a bit of a bear to hang on to. that's because wall green's been trying to buy rite aid for 1 months and it can't seem to get the authority, at this time it's time for walgreen's to fish or cut bait. that's why i'm glad that walgreen's made the f -- walgreen's is getting out of this limbo real soon. either way, i think it goes higher, which is why a ---speaking of takeover limbo,
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that is year the buyer, the german drugmaker, the hugely modified c-play, and since then it's been a -- hopefully we can get some clues about what needs to happen to get the deal done. maybe a buyer has to invest something as dupont did today when it sold some of its business to fnc, i think dupont got a good deal, because it took fnc's health and fitness business, and that should appease the authorities, giving dupont the green light at last to complete it's merger with dow chemicals. and dow rose 13% today as the deal turns this company into an electrical power house, that will soon be spun off into it's own business.
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win-win. bed bath and beyond reports, and i'm braced for another disappointment from this serial disappointor. anything remotely positive will cause the stock to pop. thursday morning we hear from car max and constellation brands, car max has become a comit of a bow wow down 2.0 for the year. let's see what they say, they're straight shooters, constellation is up for the year, but there's this company that reports chrome and magellan, and it might be hurt by the kind of border tax that house speaker paul ryan wants as part of any house deal. i think this self styled policy wonning will be equally equipped to buy more stocks.
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but if you don't already own it, please wait, as its had a bit of a relief rally as it seems like the house of representatives has no leadership. the payroll report for the month of march, it's hard to believe it won't be strong, given that the jobless chams have been really low, i mean really low. that said, though, we have been getting a very mixed read on the economy of late. many retailers are painting a weaker picture, and we know that -- many of which are hiring, expecting big things for 2016. once again, the key things for the bulls is that this job number must, must, must, support the two-rate-hike thesis if the banks are going to continue to remain in a leadership position, which the market needs if this stock is going to go higher. the bulls probably don't want to see it end.
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but i believe when the big strategists get together with the research teams in the next few weeks, some will determine that the market has run too much, it's too expensive. if that's the case, i say let them knock the market down so that we can use the weakness they created to get some bargains in our favorite stocks. we're starting with cody in new york. cody. >> dr. cramer, pleasure to speak to you once again. >> nice. >> i would like to know what you think about general dynamics corporation, if it at its all-time high, or whether i should wait for it to pull back to its high in the mid 70s. >> the defense stocks ran up very big and then after the inauguration, they came down. and then they started going up again, meaning stay long. general diynamidynamics, presto
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colorado, preston. >> hey, cramer, thanks for taking my call and helping young investors like myself. >> get in the game. we need you in the game. >> i just want your long-term thoughts of fedex and it's . >> fedex needs to spend a lot. it had a really great re recommendation this week, if anyone's thinking about buying a transport, the two to buy are fedex and southwest air, symbol love. so far, so good this year, but i expect profits to be taken over the next few weeks and that should give you a chance to buy some bargains in the solid names. it's been a tough environment for retailers in this environment. but there's one you should be buying right after the rock. man, i'm getting into the ring with wwe, yes, the boo-yah
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brawler. did the company leave you up against the ropes or give your portfolio a fighting chance. and are you on board with snaps ipo? there's another tech company that would be worth owning that you have probably never heard of. stick with cramer. >> don't miss a second with cramer. send jim an email to madmoney@cnbc.com. or give us a call, a 1-800-743-cnbc. miss something in head to miss madmoney @cnbc. my business was built with passion... but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one.
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foot locker, they're either discounters, like foot locker, they have unique characteristics that have allowed them to triumph over the maul surroundings. or perhaps the best example of all, burlington stores, burl. the offprice strip mall stand alone retail chain. here's a stock that's been on fire for ages, rallying more than 470% since it's october 2016 ipo that so many people believed in. it's up 73% over the past 12 months, nearly 15% at the end of 2017. the retail slowdown, it hasn't hurt burlington stores a bit. burlington seems to be in a league of its own, so how do
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they do it? and more importantly, can the stock continue to roar higher? first let's talk about the basics of this story, while many retailers have clearly struggled to get traffic where you can comparison shop on amazon, and what a stock that is, clearly going to 1,000. burlington is different, these days they can sell a lot more than coats, and this is a classic offprice story, where the merchandise is even cheaper than what you would find on the web. and that's a critical and crucial reason for it's success. people will put it in the time to search through their stuff in order to find great products at a great price. it's worth the effort of shopping here, because they actually reward you for leaving the house and driving to the store. and it's very difficult to replicate this kind of treasure hunt experience online. on top of that burlington is dependable. dependable for both wall street and main street, it's
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consistentconsisten consistently given us the best execution, the company sales up by 46%. overall revenue increased by 9.3%, that translated into a staggering 31% earnings growth, that's incredible. even better, burlington has a long track record of leaving sales estimates in the dust. and in 2016 alone, the company raised it's four-year earnings three times, the numbers keep rising, boy do investors like to see this, the analysts go nuts. the thing that turns this high sales growth is that the company keeps expanding its margins via a number of different strategies, and this is something they can continue to do in the future. at the recent investor's meeting, burlington laid out a prethrong plan, first throng,
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the company plans to offer more products in underpenetrated areas, like home, beauty and apparel. and they're also going to the web to get a better idea of what their customers want and each store has slightly different merchandise, depending on what the customers in the area are looking for. i love it when managers have discretion. and burlington continues to expand it's store base, right now the company has 600 store locations, but analysts believe they could hit 1,000 locations without hitting any kind of a store. the pay back for any new store is three years, stores are already profitable on a cash flow profit business, this is one of the few companies where expanding the stores actually makes sense, rather than having to close stores. the thing that's been giving burlington such magnificent earnings goit, the company has been focused on it's inventory
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turnover, while using it's purchasing power. buy backs to boost the earnings per share by shrinking the share count. when burlington reported a month ago, they delivered on over single -- rising by 80 basis points to 41.8% in retail. even better, while burlington's forecast for the next quarter seemed what bearish. i liked what we heard on the conference call. just as burlington weighed out on investor day, the home, beauty and ladies apparel categories were all on fire. something that's allowed the company to reit's dependence on
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cold weather gear. home prices never go out of season or style, now make up 12%. and ladies apparent up 3% or 4%. now we got the latest update here when analysts at j prks p began met with burlington's ceo on their road show. most retailers only have a three-day plan. they have raised the -- bolstering the supply chain and source endeavors, meaning they can find more merchandise that customers want and once again, they pounded the table on the three hottest categories, home, beauty, ladies apparel. tjx's home goods, that stuff comes in and out so quickly, which i love. but burlington seems to be one of the only bricks and mortars
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place that had -- the lulu lemon's debacle at that formerly red-hot apparel company. me going forward they plan to remodel 30 to 40 stores each year. they're closing just a small number of underperforming locations. tonight burlington said they're focused on doing business in retail hubs, meaning they like to put their stores near other chains that can bring in more traffic. plus burlington believes they still have a long way to boost marg margins. oh, and even with the stock up here, trading at less than 22 times next year's earnings estimates, i don't think it's that pricey when you consider the company's 16%, that's right, 16% long-term growth, that's amazing.
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with the excuse they have? it's actually inexpensive. succeeding in the retail business has gotten a lot more complicated but we know there's a formula that works and we know the formula is burlington store's, combined with lower prices than they can get on the web. but i have to say, after doing some real soul searching here, burlington may be the best at what it does, and you know what? i think it's got more room to run. and possibly a lot more room. much more "mad money," and forget the super bowl and the world series, the biggest sporting event of the year is happening sunday. that's right, i'm talking wwe's wrestlemania. and you have probably never heard of oracle. i'll tell you what you need to know. and the book of love is in the market's eyes, i'll tell you wlooir the buyers of senior
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the biggest sports event of the year. as tons of wrestling fans descend upon orlando, florida for wwe's wrestlemania 33, think recognize this this isn't the kind of thing that's popular with the million dollar snobs on wall street. but if you look past the shirtless characters, the crazy costumes, the elaborate sets and the fact that it's got as much in common with a soap oprah as a sporting event. and when you think pro wrestling, it all comes back to wwe, world wrestling entertainment, which is also it's ticker. that here's why this stock has been on fire, rallying other than 20% just since the beginning of 2017. in fact, when you take a sober look at the fundamentals, it becomes clear that wwe is actually on the right side of many powerful secular growth
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themes that we talk about all the time on "mad money," like the rise on online media, the brace of video games as part of a stay at home economy. and wwe tried to transform itself moving away from it's old pay-per-view model and embracing an over the top subscription modding that appears to be making a big difference. what can make this stock go higher and can this stock keep roaring or is it due for a pile driver that will snap the neck of your portfolio. wwe has been publicly traded for over 20 years, in the long-term, though, the stock has proved to be extremely volatile. in 2014, wwe spiked to nearly $30, in anticipation of an agreement with nbc universal. and then it tanked when that
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deal turned to be not so enticing and wwi network, a suppisu subscription based model. if you want to get your head around this move, you need to understand how wwe has transformed itself over the years. wwe made its money selling tickets to live events and broadcasting them on traditional tv or on pay-per-view, wwe what is a huge global -- and your fate is very much at the hands of the network you're partnered yet. starting in 2011, wwe began to transform itself, while they didn't launch their online wwe network until 2014, the transition was years in the making and it required significant investment. by the time the call lar flipped to 2015, wwe had become much
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more of a new media play. not only did the online wwe network start to catch fire, but it's traditional live tv events have also been soaring. this company has put up some terrific numbers in the past few years and i these we're going to keep accelerating, in short, wwe is ready to rumble. together the company's online television and live event business has accounted for 78% of its sales and all three segments are in a very good place right now. just listen to wwe's chief financial george barrios had to say on "squawk box" two year ago. >> if we're doing 70% of our business outside of the u.s., if you're nbc and nbc universal, we have the number one cable network in the country, i think they're happy. >> that's monster numbers. whether or not you like wwe's
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programming, the fact is the rating is gold right now and that girlfrieves the company a bargaining power at the networks and pro wrestling has been gaining popularity overseas. wwe's live events increased by nearly 16%, up from 12.6% the year before. who has that kind of growth? i think this play into the experiential economy thesis, the one we keep talking about, there's so many ways to be entertained at home, that people will only leave the house for something really exceptional, like wrestlemania, who doesn't want a selfie with john cina or a.j. styles. the real story here has been the subscription online service, rather than trying to charge people per event, wwe smartly
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charges $9.95 a month, that will allow you access to all the wrestlemania, and summer slam. why is this so much better than the old model? because with pay-per-view, wwe would only actually to get to keep about 40% or 50% of the revenue generated, the rest goes to the broadcaster. so they cut out the middleman and kept all the money, and getting wrestlemania on tv, added up to $50. adding to about $250 a year. they get to keep all the money, and it comes in the form of a sticky revenue stream. make no mistake, the business is huge, imagine 1.4 million
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subscribers and once they hit 1.75, which could happen later this year. everything above that level is pure growth territory. in short wwe's network was have very expensive network to set up, but now we're at the point where it's about to pay off. they know how to get the sub skr scribers, and the video game business doesn't hurt, wwe makes 50,000 a year, thank you strauss, for telling us about this idea to begin with. and also matel for action figures. wwe could be the classic trump stock, given that former ceo linda mcmahon is now a member of the cabinet. she runs the sba, the small
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business administration. wwe had a 3% tax bracket last year. any kind of tax break would give their bottom line a huge boost, at the same time it wouldn't shock me if wwe even ends up as a fakeover candidate. the smoother subscription based revenue model, the company's adopted, makes it much more attractive to potential acquirers. one problem, stock's not cheap, raiding at 33 times next year's earnings estimates. er personally, of course i would rather wait for a pull back. wwe is firing on all cylinders here the rollout of it's online network has been a huge success, but take it from the boo-yah, brooklyn brawler, the stock has grown so much, here's a strategy, buy some now, and then buy some lower later.
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and i think you'll be very happy. i'm going to charles in maryland, charles? >> yes, good afternoon, how are you today? >> i am good, i'm a winner, how about you. >> good. good. >> i wanted to ask you this question about comcast, and it's ability to sustain itself giving the pressures from at &, and the expansion that they're undergoing, with it's acquisition of time warner. would you consider a buy and hold? >> first of all my travel trust does own comcast, why do we tell club members that we like it? it's very simple, the answer is that this company has some of the greatest profitable cash ow i have seen, and i think the change in administration is going to be very beneficial for them too. you're talking about probable growth for all, okay? i think that it's still cheap. anyway, wwe is ready to rumble.
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the company is firing on all cylinde cylinders, maybe you buy some now and wait for a pull back before you perform your finishing move. and forget snap, i'm going with another tech ipo, and then this stock has a love affair with seniors, i'm not talking aarp, please? i'm talking about senior growth names now back envogue. and tonight's edition of the lightning round, and of course a look back at the week that was. stick with cramer. various: (shouting) heigh! ho! ( ♪ ) it's off to work we go! woman: on the gulf coast, new exxonmobil projects
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are expected to create over 45,000 jobs. and each job created by the energy industry supports two others in the community. altogether, the industry supports over 9 million jobs nationwide. these are jobs that natural gas is helping make happen, all while reducing america's emissions. energy lives here.
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. you know what, i'm fairly sanguine about the stock market. the economy is getting better and even if trump can't pass pro business legislation, that helps, it means we're in pretty good shape. however there is one thing that worries me here, and one thing that can play slaughterhouse to the bull market. what is it? if we get a deluge of new ipos,
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flooding the market with new stock supply, if that happens, you need to be worried. we're not there yet, it's something you need to keep an eye on. because if each additional deal, the terrain becomes more treacherous. in the meantime, i believe it's my job to sift through these ipos, steering you towards the ones that look like winners and steering you away from the ones that look like losers. and ayx, data achnalytianalytic opportunity. what does aterix is a provider of self-service, makes it easier for companies to prepare, blend and analyze data from multiple
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sources. the amount of data is exploding as a society. worst of all they require multiple steps by multiple it workers. think expense structure, the thing about this company is that it brings the analytics process into one single experience, a task that used to require an entire team. that's why alterix -- most telling, accensure, the huge information technology, whose stock i think you know i think is too cheap. alterix isn't just addressing some tiny niche, managing big data has kind of become a big problem, short businesses have access to a treasure trove of data, but it comes at them so fast, that it's really difficult
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to make use of this information. at least in a timely manner. traditionally analytics software requires one person to do the analysis and requires another person or group of people to prepare the data. that's very inefficient. enter alterix, they've got a platform that makes the same person able to gather the data and then analyze it. this becomes the business analytic diet that integration and spatial analysis markets. and alterix says that anybody using a spreadsheet could benefit from their software. that's the big picture side of the story. what about the company's fundamentals. this company delivered 59% revenue growth last year, that's an acceleration from its 41% revenue growth in 2015. in other words it's got accelerating revenue growth, and
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you know wall street can't get enough of that. meanwhile the company's gross margin, what it makes after subtracting goods sold, those take its from me are great numbers. what else? alterix had $108 million in business last year. but the balance sheet is clear, no debt, 168 million in quash. first alterix is not yet profitable, that's okay, it's a supergrowth company. it's path to profitability is unclear. i think eventually they can turn a profit, and we do like rapidly growing sales. management has not given us a timeline when it will be probable, less than ideal, but we'll take it. now let's talk about alterix the stock, because that's not as promising a story, number of yellow flags here. first this ipo is what we call a sliver deal. 59 million shares is
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outstanding, but only 9 million of those actually trade. down the line the company will do something to get the shares in the market. and when that happens, the stock will likely get hammered. that's what happened with trulia. a good company, but a lot of sup player. and there's a potential for delusion that you may not know. alterix has outstanding stock options that can turn into 7 million shares, at 14 million shares, you add roughly 25% delusion, i say ouch. on top of that, alterix has a structure where it's profit holders have no voting power. class a shares are entitled to one vote each. class b shares get ten votes each. in short, if you buy this stock, you'll be a second class
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shareholder. and the data analytics business can be rough an opaque. remember tableau software stock got cut in half, because of some weak commentary on the conference call. keep in mind that while the numbers look good, we have seen some downturns in this particular industry. alterix trades at roughly 10 times it's 2015 sales. you know i like spunk, but again, this is a very hard business. put it all together, you've got a lot of things to worry about. the upside is real, but the risks are real too. that's why i'm willing to give alterix my blessing, but only for speculation, and i encourage you to tread very carefully
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it is time. it's time for "the lightning round." and then the lightning round is over. are you ready skee-daddy, the lightning round, wire going to start with mark in florida. >> hey, jim, a big boo-yah from sunny florida and thanks for taking my call. >> it's been raining here nonstop, what's going on? >> my question is on berkshire hathaway b, i'm wondering if we're on a downward trend. >> the downward trend is volatility my friend, my recommendation is buy, buy, buy. >> hey, jim, from paris, texas. blue sky, nice weather, i think we're going to do a little bass fishing in about an hour when the sun goes down, i want to
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know about an, auto nation, what is your best skinny rogers advise. >> i worry about auto nation and i worry about car max and i've got to tell you, we're going to hear from car max next week, they're going to trade together. [ buzzer ] >> no, no, no. take that as a maybe, car max says they say no auto nation, and me. greg in south carolina, south carolina, very important weekend. greg? >> boo-yah from 80-degree weather, sunny, south carolina, baby. i feel sorry for you the weather we got up there. i was given some money for christmas and i put it into ctl. market cap of about 12 billion. and it's yielding about 9.5%. >> i regard that yield as a red
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flag, sir, i'm concerned that they might -- i know there's many analysts say don't worry about it. i want to worry about it. if i'm going to be in teleco, i'm going to be in verizon. that's the end of the lightning round. >> yep, i'm talking twinningies, so let's get reacquainted with a company with such timeless treats as twinkies, ho-hos and snowballs. these guys are stuffed with so many preservatives that they make perfect fallout food. you just forget how good they are. i just had a twinkie, they're terrific. >> nothing better than a twinkie. hard to find. >> they're coming back. the same with the donnette.
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my daughter and i spent $25 at one of those claws, to pick up a toy that's not worth 38 cents. who's there. >> boo. >> boo who? >> boo-yah. >> stick with cramer. >> stick with cramer. yes, i am, i'm hugging a bear. i just wted to thank your support team for walking me through my first options trade. we only do it for everyone gary. well, i feel pretty smart. well, we're all about educating people on options strategies. well, don't worry, i won't let this accomplishment go to my head. i'm still the same old gary. wait, you forgot your french dictionary. oh, mucho gracias. get help on options trading with thinkorswim, only at td ameritrade.
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no one seems to be paying attention to it except for me. after having no sex appeal whatsoever for almost the entirety of last year, the senior growth love affair began anew during this amazing first quarter. we all know that tech's been red hot, an amazing quarter for nasdaq, and if you want to, you can start saying faang with two as, for amazon, facebook and google. the ones that used to be -- after spending all of 2016 in purgatory. first one, disney. if you remember, disney was
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supposed to be dead. because of the sudden and precipitous loss of espn subscribers. the stock did have a hideous plunge of $110 down to $85 last year, back to $170 before cratering to $90. then last fall, there's still one more decline in subscribers, but ceo bob iger said he was feeling better about espn. that's all he had to say, because he backed it up by talking about an amazing movie slate that has since come to fruition, disney stock has seen its both good days and bad days, even though espn's woes haven't real -- starting to process other positives. in this case, disney's incredible movie schedule, that more than offsets any weakness in the cable business.
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in the meantime espn's costs are coming down and the street's starting to realize that the company's subscribers should be counted, some way, sharp or form. then goes starbucks, this one's really interesting. this stock peaked at $63 in november of 2015. just a totally, nothing 2016. has had really a pretty rough go of it. especially when same store sales stalled. this started off as a high quality problem, because we like mobile ordering, then it just devolved into a problem. plus the inspirational ceo -- but the stock only falling down to 51 bucks, lately, i don't know if you have seen it, starbuc starbucks' stock has been climbing, which schulz believes
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we have put into place in the second half of the year. okay, it's all been done on faith right now, and starbucks stock has been climbing once again on both good days and bad days. how about nike, nike reported a disappointing quarter with real issues in the u.s. yet the stock, after flowing from $58 to $54 on incredibly heavy volume, is now starting to rebound. even think it got hit yesterday by lulu lemon is not far from where it was trading before that bad quarter. that's a sign, people, i think people are looking for long-term bargains and they have settled on nike was one of the big senior growth stocks. and there's behere mouths that have gotten jiggy, so to speak, more on a sense that they have been held back too long, maybe on political nonsensor contempt
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for nontech growth stocks, i'm talking about johnson & johnson, these two stocks are behaving in a curious way, they have rallied on no news flow whatsoever, there's been no change, no delta, just the same old good quarter after good quarter. but suddenly it rallies. i think it rallied because their consistency had made them somewhat persona non grata. now they seem fearless. yes, people, senior growth is back. and even though each of these stocks has its blemishes, they're being air brushed one by one. i think the picture that's left, seems quite rewarding, and i bet it lasts beyond the incredibly great first quarter of 2017. stick with cramer. you have access to in-depth analysis, level 2 data, and a team of experienced traders ready to help you if you need it. ♪ ♪
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it's like having the power of a trading floor, wherever you are. it's your trade. ♪ ♪ e*trade. ♪ ♪ start trading today at etrade.com is happening before our eyes. shift in human history sixty to seventy million people are moving to cities every year. at pgim we help investors see the implications of long term megatrends like the prime time of urban expansion, pinpointing opportunities to capture alpha in real estate, infrastructure and emerging markets. partner with pgim the global investment management businesses of prudential. sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities.
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we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. with it, i earn unlimited 2% cash back on all of my purchasing. and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... which adds fuel to my bottom line. what's in your wallet? i like saying there's always a bull market everywhere. i'm jim cramer, see you monday.
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male announcer: the economy is going through tough times. many hardworking americans blame wealthy ceos, out of touch with what's going on in their own companies. but some bosses are willing to take extreme action to make their businesses better. each week, we follow the boss of a major corporation as they go undercover into their own company. - patrick. how are you? - nice to meet you, patrick. announcer: this week, 1-800-flowers, the world's largest florist and gift shop. at the helm of this floral empire are two brothers. - get your foot off my table. announcer: and one of them has something to prove. jim still sees me as his little brother. - where did you grow up? - where did i grow up? i grew up here in this business. i am his partner in this business. i need to remind him of that. he'll pose as a new recruit and find out what's really going on inside their company.
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