lower. >> to the spear. i'm melissa lee. thanks for watching and see you tomorrow for more "fast money. don't go anywhere. "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 make you some money. my job is not just to entertain, but to educate and teach so call me at 1-800-743-cnbc or tweet me @jimcramer. okay, you get these big-time heavyweight overseas events. you get the sell-offs, the one that breed a lot of fear >> sell, sell, sell! sell, sell, sell sell, sell, sell . >> and i always say let it come

in let it come in let it come to you, don't reach, coming your way. i know that's not what you want to hear on a down like this. the dow lost 137 points. >> the house of pain >> when will we get the trauma of turkey out of our system? good to tune in. i'm going to tell you why the sell-off is not going to work, why it's not as special as it seems. and why it has already to some degree started coming back up, given a remarkable climb from the lows today, a climb that could continue in the a.m. because of a stellar quarter delivered by cisco this very night. it was a shoot the lights out quarter. [ gunshot >> with the possibility of real tech pin action. first, this whole sell-off began with a man made event. the u.s. is having a spat with turkey and tariffs are flying back and forth by the same token, that means

the turmoil can be quelled by some sort of compromise between president trump and president erdogan to release this american citizen that the turks are holding custody. seriously. this whole thing is about one guy, some evangelical pastor you may never have heard of. if turkey sends him back, the tariffs could go away. everything could go back to kind of normal. the great thing about man made problems is they're easy to solve. and when we get some resolution, you have to prepare for stab back rally, even if it might seem impossible right now. today really wasn't a bad turkey in fact, the turkish lira rallied today. no, there are other culprits that are really freaking people out. so i have to put them in context and then give you an action plan first, understand the sell-off is a carryover from overseas, specifically china, where the shanghai composite fell another 2% it's now down nearly 18% for the year 23% currency adjusted. true bear.

the chinese market has been hellacious because their economy is slowing last night's decline was exacerbated by weakness at 10 cent that's the video game and social media colossus back in january this company had a market capitalization of nearly $600 billion. now it's less than $400 billion, including this huge drop we just had. why? well, because ten cent reported a weak quarter weak caused in part by some bizarre unexplained government intervention in its video game business, and the poor modernization of a lot of hit games. shock shortfall from the hottest company that the entire index. the stock goes down 6% i found this decline disconcerting because sate reminder of how bad the chinese communist party is at running a statement. they got a pretty good handle on the rest of capitalism but securities, they're not their strong suit. not only have many investors borrowed money to own stocks,

but there is an index fund pulling down almost all the blue chip chinese stocks off google 9% even the stock of the much loved albie baba, by me too, the chinese amazon, now down 1.5% for the year 211 down on 169. facebook-like, for heaven's sake now china's blagd a decelerating economy, and a shroud of secrecy over what's really going on with this government the trade war hasn't helped them either that chinese weakness spread this morning to europe and here's where things get a little tricky. at about 4:30 a.m. this morning, i'm watching things, okay. our stock market was looking a little soggy, down less than a quarter percent, kind of like europe then europe fell out of bed, plummeted precipitously, down about 4% it was like boom, i was this the shower, working out, boom. we were completely in sync we have to ask yourselves, does that make any sense? no but we see this thing repeatedly happen for ages and ages, the

pajama traders ultimately we disentangled while our averages bounced off the low. our s&p closed down only .76%. nice rally the world economy is truly freaking people out, and that is the collapse of the entire commodity complex. copper's hitting lows. lumber is way down metals, and now oil is off huge. takeaway for most people, the tariff -- trump's tariffs, well, people just think you know what? now you're starting to come home to roost slow global numbers. final nails in the coffin. macy's allegedly reported a weaker than expected quarter, sending the stock down 16% and kimberly-clark is raising tissue prices to offset their cost of inflation. that stock went up bears take away, slowing growth, high inflation, hey,

stagflation. >> sell, sell, sell! sell, sell, sell sell, sell, sell sell, sell, sell sell, sell, sell >> the worst would be the lower third i'm asking my producers, the lower third deco these are all terms i'm going to get used to in the 15th year of the show i'm almost there let me put this in context context changes the way we look at this stuff. ready? let's start with china the chinese are digging in their heels on trade now, we hear endly president xi is playing the long game, waiting out president trump, something he can do because he is not democratically elected. true, i have no doubt. but the chinese stock market is playing the short game the chinese communist still runs what is in many ways a command economy. when they decide to have a stock market so companies can raise capital, i think they may have misjudged that stocks can't be commanded to go higher they can go lower, even in communist china. plus, when the government basically forces a huge company like ten cent with all that momentum to have a shortfall,

well, that makes investors freak out, as they should. i mean, what the heck is going on there this is china, for heaven's sake oh, yeah, i got to get this off because i had a blood test today. anyway i'll pick that up later. europe, what can i say it looks like -- it's probably a mistake. it look likes many of the largest banks have lent money in turkey and now they have to take the hit. plus, europe does a ton of business with china, and that's a real weight. how about us should we be as worried? should we be as afraid as everyone tells we should be? here's the game plan first, it's ridiculous we went down as much as europe this morning. our link to turkey at this point is almost nil. second, if you listen to as many conference calls as i do, you know one of the real issues of this quarter was the decline in growth margin caused by, yes, soaring commodity prices guess what commodities are coming down. positive

oil coming down. positive so many companies hampered by high energy cost how can this possibly be bad what is wrong with this picture? it's great for all but the 8% of the economy directly related to oil. you can worry about inflation or falling oil commodity prices be, you can't worry about both third, all the turmoil has kept interest rates in check. in the price of lumber, this could make housing more affordable some day. how about macys? please it was a good quarter with gross margin. >> but real growth i think the stock is a victim of its own success, even after the decline, macy's is still up an astounding 40% for the year, because ceo has done a fantastic job of fixing the dark balance sheet. and what is the problem with the gross gins they're going to be up for the year anyway. you think it makes sense that the nasdaq got slammed today on that bill of particulars i laid out? no way when i tell you to wait for an

exogenous event, i'm talk about days like today, maybe tomorrow. you're going get a chance to buy the highfliers like the cloud kings, like amazon, even facebook, like a company we're going to talk to tonight, and maybe the discount won't be that pronounced because the surging cisco after hours could stem a real bloodbath should we just go buy everything no the charts are bad technicians are losing it. people don't know what they own. we're going to hear the word peak so many times the next 24 hours you're going to think we're living in the himalayas. bottom line, if you're not buying something, picking up stocks i repeatedly told you to buy, i think you're missing a terrific opportunity and hey, if you think i'm being too bullish, i say i'm probably not bullish enough katie in florida, katie? >> caller: jim cramer, it's me katie from palm beach gardens. >> it's about time i'm sorry.

>> caller: oh, i'm sorry my question is about nxpi semiconductor. >> yeah. >> caller: several years ago i bought nxpi, several hundred shares when it was at $40 a share. and as you well know, it's at 90, around 90 now. but the all-time high was 126. so now that qualcomm no longer wants to buy them, it went down another $1.43 today. >> bad day. >> caller: should should i buy more >> no, 85, 86 is where it's valid versus the other stocks in cohort as a component it was great when qualcomm first wanted to buy not so great now i'm not a huge fan of nxpi we have a lot of other great semiconductor stocks that are going down check amd and my dog nvidia, although like i said i'm not excited about this particular quarter because there is so much crypto money that's in it that shouldn't be

anyway, i'm not a big fan of nxpi call me overly bullish, but if you're not pick up something, the winners here, you may be passing up killer opportunity. on "mad money" tonight, my exclusive with senator elizabeth warren she crusades against major companies like wells fargo, equifax, and now she sun veiling a bill to make corporate governance great again you're not going to want to miss this one then i may have found the next big buying opportunity in the unlikeliest of place, the cereal aisle, for heaven's sake. it is time to fill up your bowl? and shares of twilio but can the move continue higher i've got the ceo so stick with cramer >> don't miss a second of "mad money. follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to

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♪ this morning "the wall street journal" published an incredibly provocative piece by massachusetts senator elizabeth warren about how companies can be held accountable to reward more than just shareholders and the top dogs we have been big believers on "mad money" that the companies that perform the best are the ones that pay and treat the rank and file much better than others so this article resonated with us so we are thrilled to sit down with her this morning at the new york stock exchange to discuss her novel way to reward the stake hold others telephone enterprise take a look. senator, one of the things we talk about on "mad money," is they're more than just shareholders they're stakeholders you talk in "the wall street journal" about companies shouldn't be accountable only to shareholders tell us about it >> all right so you know how american economy worked for decades, shoot, for centuries, and that was that the biggest companies in this country had multiple

responsibilities, responsibility to their shareholders, to their employees, to their customers, and to the communities that they were involved in and it worked. >> right >> right everybody got richer >> and we're coming back to it like salesforce is saying. >> the stock market went up. productivity goes up and workers do better. we built the great american middle class and then what happened you start basically in the 1980s and corporations start shifting over and they say wait, wait, wait, we have just one single minded focus. shovel as much money as you can into the pockets of the shareholders and forget about the rest of that stuff and the consequence has been that the shareholders have done really well. the 10% of america that owns more than 80% of all the stocks shovel money in there. but workers, wages have flattened out. in fact, lately it looks like hourly wages adjusted for

inflation have gone down. >> digitization. >> no kidding, no kidding. but here's the thing about all of that is that it's not even working long-term for the corporations themselves. we have seen over the past 25 years extraction of about $7 trillion of investment in america's companies. that's not how we build a long-term future so i have a proposal to deal with >> okay. >> and my proposal says let's get a little accountability into the system, and let's get these corporations to charter federally the ones that have more than a billion dollars of sales every year, and let's have a couple of features first one, let's put some floens board. let the employees elect some people so you have multiple representation on the board itself second one let's change the compensation structure for the ceos to say that the ceos will not be permitted to juice the price and

then once they juice the price make a quick sale, make a bazillion dollars, and keep emphasizing the incentives, that's what we've got now for short-termism. want to get rid of it. >> okay. devil's's advocate >> okay. >> if your bill pass, we know the way capitalism can work. it be be with some people will say tax on jobs will outsource tax on jobs will harry temporary workers. how do you get around that >> no, no. this doesn't change anything let's be clear this is no new tax, and i want to be really, really clear, it doesn't cost the american taxpayer a single penny. >> not anti-business. >> it's not anti-business. this is saying to businesses, hey, what you need is you need a little more diversified board and you need ceos and top executives who are incentivized not just to think in the next quarter, but to think longer arc about how this business works

that's going to be good for everybody. >> let's take a company like costco they have long thought this. costco is the best performer in the group. salesforce why do we need legislation when the examples of great stocks that actually embrace their workers are so evident what is with the other guys? >> oh, i get it. the problem you've got is we need to level the playing field, and that's what rules do because right now there are a couple of companies that are willing to show what it does for the companies, the ceos understand the money is to be made in the companies that don't do that. the money is to be made in short-term juicing the stock look at the trillion dollars in buybacks that have occurred. that's not investment in these companies. that's nothing more than sugar high for those companies in the short-term helps the top executives, but doesn't help the company long-term and sure doesn't help the employees and sure doesn't help the communities they're in. >> okay. let's talk about the bigger picture of trade >> okay.

>> we need to worry, i believe, and have felt that the industrial economy, that there have been predator economies like china that have really hurt and targeted our industries. >> yep. >> do we worry about the steel the way the current administration is? if in the end, it's rapacious and coming from oversea, the workers lose their jobs. how do you feel about it >> i've ban critic of trade policy in america. >> that's why i brought it up. >> because i have been on this for such a long time. >> but you're not -- you've been on this train for a long time because i follow you you've always been concerned about the american worker losing their job because of predators from oversay, and have i worried about trade policy that has been written largely by a huntsville of multinational corporations. it has not written to enrich americans. it's been written to enrich those who play above that sphere and i give you one quick

example. the promises in the trade deals. they put labor promises in, the environmental promises in, the level playing field promises in the trade deal good luck on getting them enforced but for giant multinationals, there is a special, special deal, and the special deal is if they don't like a new regulation that gets past after they have cut a trade deal, they get to go to a special fast track arbitration outfit made up of corporate lawyers. they come in and make their case that canada shouldn't be able to prohibit this particular chemical or the united states is doing x, or mexico is doing y, that they don't like when it cuts into profits. a handful of corporate lawyers make a decision. are you ready? they hand down that decision and either the country changes its law or makes a big payment no going through a court system. no appeals, no nothing that's just saying in effect trade deals are written for the guys who run these big

multinationals, not for the american people. >> now senator warren you, know peter 1/2 vaugh rnavarro was clo president trump. you're obviously on the same side as someone who is the chief trade adviser to the president. >> look, i'm on the side of the american people. american workers do better, we all do better. >> the stock market goes up too. you know that. the individual stocks go up. >> exactly exactly. we built in america a great middle class, and we did it on the backs of hardworking people who came together, mostly through their unions to be able to say this is a country whose rules give everybody a chance. that's gone off track in the past 25, 30 years in the wrong direction. we are a country increasingly where the government works just for those at the top, and just leaves everything else behind. >> i want people to understand

the context. a lot of people feel you're just this left wing firebrand isn't what you describe the way this country was in 1980 >> yeah. that's really the point. i believe, i believe in markets. i believe in all of the wealth that markets produce, but markets have to have rules and together, we decide those rules. you've got to have a cop on the beat you've got to have traffic lights. >> where was the cop on the beat on wells fargo >> and that's the whole point. you know, they're an example of why i put this new proposal together so here's wells fargo. what do the executives do? they squeeze, they push, they trick, they break the law to juice their short-term profits, and every time they do that, they get richer. 7 long-term what the executives of that company did to that company and what that board of directors signed off on is not good for the health of wells fargo, it's not good for the employees of wells fargo. >> terrible for the employees. >> it's not good for the customers of wells fargo

and it's not good for the american banking system or the american economy we need to put a stop to that. >> again, i just want to go back, because i know people say hold it, how could senator warren say i see some advantages to what peter navarro says president trump's overall economic position is that there are countries that take advantage of us. >> yes. >> and by the way, and boost the profits of multinational. >> yes, that's right >> but you're fine being alined on this particular issue >> i'm aligned with the american people that's what matters to me, the american worker. i want to see american workers who produce so much of the we wealth in this country i just want to see them be participants in getting some of that wealth back in their pockets. >> i know this is a loaded question, but the people listen and say she must be running for president. what do you say? >> first of all, i am running for senate 83 more day, massachusetts 2018.

but let me say these are the things i've worked on all my life, jim. you know that. >> i've followed >> not a position has changed. >> uniform. >> we've got to get this country to work for all of us. >> all right senator elizabeth warren, thank you so much. >> you bet it's good to see you

♪ sometimes a seemingly neglected stock in a sleepy industry will come out of nowhere and surge higher, forcing us to reassess what the heck is going on here. just take a look at post holdings, the packaged food company you know as the maker of tons of different cereal brands, fruity pebbles, shredded wheat i like shredded wheat. that's great, isn't it this isn't so good for you, it is anyway, they also make power breakfast, like a bunch of

frozen food. you get the picture. here's a stock that pretty much traded the middle of 2016. post is a packaged food company with no dividend, unlike many others so many people thought there wasn't too much to get excited about here but in the past few months, really the past two weeks the stock has caught fire, to the point where it's now up nearly 20% for the year in a group that isn't really doing that well i didn't spill these somehow spilled. for those who haven't been paying attention, what in the world is driving this move, more importantly, this stock made up of things like grape nut flakes, raisin ground, i always liked the post raisin bran better, this still go higher kind of nutty, isn't it? nut and honey. in addition to being the third largest cereal company in north america, post makes protein shakes, power bar, frozen foods. on top of that the company has a food service business where they

process all sorts of egg and potato products. who can figure for years post has been trying to transform itself into a packaged food powerhouse they made a series of acquisitions mom brand, egg farms, national pasturized eggs, wheatabits. you need bargaining power to give you the best shelf space and prices so thanks in part to this takeover spree, post stock moved. it's never too late. last year the stock stalled. as post's growth seemed to slow, investors were waiting or to the next big deal. we got it in september when post announced relatively huge $1.5 billion purchase of bob evans' farms. they sell sausages, mashed potatoes, bacon, a whole lot more this is just the packaged food part of bob evan, not the restaurant okay look at this, everything they make is so healthy, this

company. the market loved this news because it meant for scale, more cost saving and more dominance in particular parts of the supermarket. the problem is the deal is a lot to digest. even after a recent run, post is only a $6.3 billion company. when they reported in november they raised the forecast for 2018 so investors started fredding about where they get the cash. the consensus was post would need to sell off some divisions in order to raise capital. a lot of analysts were calling to divest the private labels which doesn't fit well with the rest of the company. it's been another huge part of the story. but as last year unfolded, even after we learned about the big bob evans deal, management made no announcements on the divestiture point. that was disappointing so the stock went into a slump. plus, it didn't help that the whole packaged goods space started getting hit from a series of woes from rising commodity costs to rising transportation costs, a whole lot of other things that people

kind of felt blind side by now the bob evans deal closed in january, and the company said it would explore options for private label business, the one they said didn't fit when post reported a not so hot quarter in early february, right into the teeth of the market sell-off, it didn't take long for the post to put in a bottom. it made out a proposal for an ipo of the private label business, and that's when the pain stopped in may, post reported an okay quarter that was not stock this made it crystal clear that management was committed to finding the best outcome in terms of unlocking value so that's the lead-up. that's where we were going into august 2nd when post reported its latest quarter and its stock exploded higher, shooting to fresh all-time highs this is a food stock the numbers weren't anything to

write home about a modest top line with a modest earnings bit it wasn't record setting how the heck did that cause this stock to jump from 86 to 93 in a single session simple post also announced what they were doing with this private label business that nobody really seems to want they're going to create a new entity it's called eighth avenue food and provisions which post will own along with thomas h. lee partners, smart guys under the terms of the deal, post gets $875 million, but still retain 65% ownership stake in the business. basically, the company found a way, a creative way to monetize its private label business while still retaining some of the potential upside from that business from the stock market's perspective, it was the best of both worlds compared to the outright sale or an ipo being considered pretty brilliant post gets to clean up the balance sheet but still have an opportunity to become a major

player perhaps most importantly, management said they always view their portfolio as a movable feast. meaning they might be willing to consider doing similar deals to unlock value in the future monday barclay's reinstated coverage on a very bullish note written by andrew lazar. his thesis -- let me read, quote, we continue to view post portfolio approach as more akin to a private equity fund with management focused on stable earnings before interest, taxes, depreciation, and then he continues, we see management as effective capital allocators making acquisitions when market conditions make sense and being able to explore other liquidity events when market valuations overheerkts e overheat end quote. it's an actively managed portfolio with food companies. and look, it's not like the stock is expensive the stock sells for 17.6 times earnings estimates, making it cheaper than almost all of its

pierce it has a juicy bay buyback currently $308 million left which means they could buy back roughly 5% of the float. here is the bottom line. for years post has been tweaking its portfolio of brands. i love the latest acquisition, bob evans farms. whoa, that's great would it cost us that much to have -- anyway it's located right in the center of what's been working at the supermarket, protein and frozen foods. it's taken a while to get credit they deserve but now the company -- but now the company has shown that it knows how to -- unlock value by selling pieces of subsidiary brands the stock has taken off. i love this idea that post is more like a private equity outfit that specializes in food and company, and i think the stock has a lot more room to run. you know what? it's actually the perfect equity for this new time treacherous, go long, go long it's a go play mike until pennsylvania,

michael? >> caller: good evening, jim. >> good evening. >> caller: i purchased 1500 shares of general mills after watching your show this past february and they recently have gone down. should i hold this as a core position in any portfolio to be left for my estate >> started to come back. it's a couple of points away i was premature, i like the blue buffalo acquisition. the problem is they paid too much i think we're fine hold on to the dividend. let's see some growth. dave in illinois, dave >> caller: good afternoon, jim how you doing? >> oh, dave, i don't know. i'm out of breath. i just ran a go pattern. what's going on? >> caller: long time listener, first time caller. haines celestial >> too hart. got to clean it up too difficult do understand. maybe they get a sale, maybe not. but i can't ever recommend stock on a takeover basis when i don't actually love the fundamentals amount what's going on. i got honey bunches going for me

with post. look at this thing this is what my -- this is what the millennials really don't want but anyway, post isn't just an average food company it's more like an active managed portfolio companies, the bob evans deal, it was a good one, okay and i think post has a lot more room to run. this is always good for you. now much more "mad money," including my exclusive with twilio the stock is up over 200% year to date, but will it continue its move i got the ceo. and some think the istanbul on life support i'll tell you why it's unlikely a true bear could take over. all your calls and tonight's edition of live"lightning round" so stick with cramer jimmy's gotten used to his whole room smelling like sweaty odors.

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we need to talk about the remarkable lazarus like direction of twilio. here is a company with a very sexy concept it's a cloud-based software communication play that helps developer connect with their users. think of the text message you get from uber, airbnb? it was red hot in 2016 last year not that much better stock got hit yet again when there was some business loss

from uber. that makes its recent comeback all the more remarkable. so far this year twilio's shares are have more than tripled to nearly $75 as the company's growth has re-accelerate and then some. when the company reported last week, twilio didn't just blow away the starjts they also reported a surprise profit which sent the stock flying 63 to 75 single day it may have been the strongest quarter we got from any technology company this season but after this kind of monster rally, did we miss the move? could there be more upside let's take a closer look at jeff lawson, the co-founder and ceo of twilio to get a better sense of where his company is headed mr. lawson, welcome to "mad money." >> thank you, jim. great to be back. >> i got to tell you, i read every tech conference call i follow every quarter this was to me the only company that truly delivered an upside surprise that was like a magnitude of 2,000 you basically did 2019's numbers in 2018. how could you have had aks accelerated revenue in, your

tenth anniversary of business? >> well, to us it's the power of the platform business model where we let customers build a large variety of use on twilio and with our pricing model, when our customers succeed, we succeed. and that platform business model allows us to address such a wide variety of use cases in such wee seeing software developers driver innovation from retail to hospitality to real estate to technology companies and everything in between. so it's a the wide variety of companies and the wide varieties of things they can bill coupled with success that has enabled us to grow so quickly. >> 10% of all developers are on your platform? >> estimated, yeah we've got millions of developers, accounts on our platform and there is an estimated 20 million developers in the world. we're really excited of course we see a lot of headroom and continue to grow our presence with the developers of the world >> communicating through sms, much less dealing with all the

new channels, we chat, what's app, alexa you guys are doing things with what's app that's 1.5 billion people, and that's on your platform? >> yeah, we're very excited. we announced a partnership with what's app last month that allows developers using twilio to actually reach customers whether they're on sms as we've always done, but now they can also reach the users in what's app. 1.5 billion users around the world who use what's app, many use it as their primary messaging application. so now the developers caddress those user as well we think it markets the world where historically an sms only solution wasn't the best way to reach the users. now we have what's app too that opens up new doors for customers to build amazing things. >> i was worried how later you were talking the beginning of the third wave of enterprise software and how most places are still on premises, and that means there is so much

opportunity for twilio. >> one of the markets we've been in for a while is the contact center market for example. as a platform, developers can build just about anything. so we see these hot spots start the light up, and the contact center was one of those areas. and when we started diving into these very large contacts, talking thousands of seats and agents, building a new solution on top of twilio, we're looking what's going on in the context center a market is very large, 10s of billions of dollars and 90% of the market is still unprimed despite the fact we're 20 years into this whole cloud thing. so we asked why. what's going on here and what they told us, we could customize these solutions quite a bit, but with came that all sorts of operational complexity. it was hard to scale we had downtime. it was really bad. why didn't you move to the cloud? the cloud is supposed to solve those things they said yeah, but you couldn't customize your solutions in the cloud. so they started building on top of twilio, and that's an interesting dynamic that allowed us to launch a newest product

this year which is twilio flex, that allows customers to build exactly the kind of contact center they need because it's apis all the way down, but also brings them reliability and scalability and security of the cloud. and that is our play to further disrupt the contact center market >> well, the more i looked at it, the more i'm thinking i'm looking at your company wrong there are very few tech companies i see have genuine moats. i can't even think how someone could come in and uproot you at this point i think you own this market. i don't see any actual twilio compete turkey, well, we focus on customers every day, and that's why we invest so much in r&d. after of our company is software developers building and advancing our product every day. what we focused on is number one, innovation. when customers build on top of communications platform, you want the know if that platform is getting better every day, giving you new capabilities, new markets every day without you having to do all the work

yourself but the other thing is trust you want to trust that platform is available, reliable and secure so we put a huge amount of resources into trust all these types of compliance things that give enterprises the trust that when you build on twilio, the thing you build is going to get better every day and you can trust to it scale and be reliable. that combination of things focuses our energy on customer service. because of our model, when customers succeed we succeed >> one more question i know volatility in the stock had to do with you were a victim of your own success. some accounts were so big, there is nothing you can do. i love the checkerboard now of big accounts there isn't really anyone that can hurt you you've got a great diversification with accounts now. >> yeah, we diversified our revenue base substantially in the last year. we have taken our top ten accounts and brought them down to 17% of revenue while growing the top line of the company substantially. in fact, our last quarter we grew 54% year-over-year on the top line at almost 600 million of annual runway revenue

we're really proud of what we've done both in growing our revenue and top line while also diverse fight our customer base. >> i want to congratulate you, jeff lawson, this one does have more room to run what a quarter great work stick with cramer. >> thank you, jim. duncan just protected his family

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"lightning round" is sponsored by td ameritrade >> it is time. it's time for the "lightning round. >> buy, buy, buy buy, buy, buy! >> sell, sell, sell! sell, sell, sell >> buy, buy, buy. >> and then the "lightning round" is over are you ready, skee-daddy? start with tim in florida. tim? >> caller: thank you, jim. thank you for your great work. >> ah, thanks. >> caller: praxair praxair's had a big run for a long time. it's had a bit of a pullback it is time to buy more >> they're trying to figure out how do deal with the antitrust, i say just go with it. it is really strong. like all those in that group patrick in california.

patrick? >> caller: hey, jim, boo-yah. >> boo-yah >> caller: thank you for taking my call. a long-time watcher. >> thank you >> caller: with the truck drivers shortage, i'm looking at trinity industry. >> yeah, keep looking. don't pull the trigger i'll tell you why. look, you're absolutely right structurally but you know what? we're going to actually own the rails. i like norfolk southern and union pacific and csx. buy any one of those three how about shane in georgia, shane? >> caller: boo-yah, jim cramer. >> boo-yah >> caller: good evening. >> good evening. >> caller: you and your staff interest best. >> thanks. >> caller: mgm reserves. >> no. we're recommending pinnacle entertainment. we want domestic, and we don't want concentrated vegas in macau. that's why pinnacle. we like it for betting too, gambling now i need robin in new york robin? >> caller: hi, jim i've had the good fortunate to meet you and your lovely wife at

an action alerts plus event at your far bar san miguel. >> bar san miguel. what's up? >> caller: ireland would be better, but that's not why i'm calling. i'm calling today about the big dividend cut for shareholders of energy transfer partners despite the additional shares of etf as a merge. >> i think you ring the register and be glad that they did some sort of takeover there because that has been a god awful situation. i am not done. i am going to kurt in new jersey kurt >> caller: boo-yah, jim. >> boo-yah. >> caller: this is kurt from the beautiful mountains of northern new jersey i have a question about the drone company aero environment. >> we like it. we think they're terrific. i've been trying to have them on, and i don't know what the clinical breakdown is because i think that's a well run company. i'm not done can i go to denise in minnesota? denise >> caller: boo-yah from the middle of farm country hey, jim, what do you think of duluth holdings, dl-l-t-hd-l-t-?

>> i like apparel group very much i'm going have to say take a pass i like tapestry. and that, ladies and gentlemen is the conclusion of the "lightning round"! [ buzzer ] >> the "lightning round" is sponsored by td ameritrade mpanis are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.

i heard again yesterday conversation among reasonable people about how the bull was on

its last legs. then a few minutes later, i find out that warren buffett has bought more apple and purchased nearly 2.3 million more shares of goldman sachs, giving him a $3 billion position, one of the most active financials i have come across in ages. maybe the bull stocks are dead look, when we hear that a bull market has died, and this one's died a thousand deaths, it usually has to do with highly visible poorly acting stocks or sectors. it goes something like this. hey, remember fang shareholders sure wish they didn't then some tweets the fang defanging is the canary in the coal mine. and then peak autos, peak cell phones, peak semiconductors. but they're not looking at amd that tells a more bullish story. then trade war, tariffs, turkey. i've been to a bullfight i have to tell you these interest taunts to the bull before the coupe degra let's go back to berkshire and

warren buffett i figure with all the buying they had to be the largest shareholder of apple and goldman. he owns just under 252 million shares of apple, about 3.5% of goldman. no, not even close when it comes to an held is just number three, blackrock owns 7.2. how about goldman sachs? which was once a tight knit partnership? he is behind blackrock, state street and goldman sachs itself, presuming employees. like berkshire, none of the firms are real investors they're depositors to of gigantic index funds that buy and buy and buy. they don't seem to ever sale they just buy and buy and buy. why is this so important because is there only so much stock to go around bull markets live on supply and demand these index funds soak up supply apple and goldman sachs continue to buy back their own shares apple at 6.4 billion shares in 2013 five years down to 4.8 billion goldman, 471 million shares, now

377 million. and they did that with the federal government constraining their ability to repurchase. can you imagine what goldman would do with all that cash if they were allowed to buyback put them together and you have a genuine stock shortage which stacks the deck longer term to favor the bulls. of course, if the fundamentals are bad, none of this buying power matters. but we've just seen time and again if the business is good, stocks go higher meanwhile, business is bad and often activists will take a position and help the company turn around. the stock shortage caused by buybacks and index funds gives the bulls an edge. i would be very hesitant to declare the bull dead when all this money keeps pouring in and brings it back to life pretty much every day of the week stick can with cramer. to find the best flight for me. so i'm more than confident. how's your family? kayak. search one and done.

♪ experience the great lengths we go to in testing our performance line. at the lexus golden opportunity sales event. lease the 2018 is 300 and is 300 all wheel drive for these terms. experience amazing at your lexus dealer. cisco with a real good quarter could have some impact and pin action i like to say there is always a bull market somewhere. i promise to try to find it for you right here on "mad money." i am jim cramer, and i'll see you tomorrow

>> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ first into the tank are entrepreneurs with a better way to bake from scratch. hello. my name is leah. and i am taya. we are two moms from portland, oregon, and together we created... both: scratch & grain baking company!