i do too. >> final trade, sir? >> the cbs, good for them. good for them. cbs bounces from here. >> that does it for us tonight "mad money" starts right now starts right now my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money my job isn't just to entertain but to educate you and put this in context for you call me at 1-800-743-cnbc. or tweet me @jimcramer we need a washout. the dow plunged 508 and s&p

plummeted 2.08% and the nasdaq nosedived 2.7%, we need to get to the bottom of this decline no matter how we do it. >> no, no, aaghhh! >> even if it's that way we need to figure out how, what and if we can rebound here so let's get right to it. now that pretty much everything is in bear market territory, what is the formula for getting out of it? how does this turn itself around is it worth going over you bet it is. why? because i started in this business with the dow at about 1000 it does recover. what needs to happen first is the fed and second is the fed and then third, the fed. we keep talking about how fed chief jay powell is in a box because he can't be seen to give the president -- given the president's ceaseless demands he stops tightening including this morning's damning tweet.

giving in compromises the fed's independence jay powell knows that. at the same time powell told us another hike was coming. he told us so many times that if he holds off, it could easily set a panic off because we will presume something is really worrisome that we don't know yet and that's why he held off so i think he has to raise interest rates wednesday at this point even though we don't need a rate hike for those sick and tired of me obsessing about the fed, listen, if you look at the chart of any industrial chart, anyone and i spent a lot of time looking at them the whole group got clobbered when powell talked about the need for more rate hikes in early october, when he put himself in the box and also said he may have to go to the point of overshooting if necessary. what does overshoot for, what is that the code for? how about going so far there is a dramatic economic slowdown or maybe we need a recession to break the spell of higher wages?

well, it didn't help, by the way, the next day, vice president pence gave a speech where he laid out the trade war with china not a short spat over tariffs, one, two, punch. >> sell, sell, sell, sell. >> in other words, i talk about the fed endlessly because the fed is really important. but if powell puts through one more rate hike and then says, you know what, we're done for now, let's wait and see, let's be prudent, that he needs to look at the data beyond just employment before he tightens and the hawk morphs into a dove. i believe that could put an end to the sell-off. however, powell wants to play santa claus to his previous grinch-like comments. >> ooh >> well, let me tell you something, want to see the market go higher, he has to do more than that he has to clear hurdles, a, b and c. a, he has to say when he made his previous remarks in october the economy was red hot.

since then things have cooled off and perhaps underestimated the rate hikes he already put through and the slowdown would hurt the economy in other words, he needs to be humble we need a humble reckoning that takes the concept of overshooting off the table once and for all. you don't do that, mr. chairman. you don't say i might be willing to overshoot that throws people out of work don't do that. b, powell needs to say he sees cracks in the stock market and not oblivious to their forecasting abilities and has to acknowledge long-term interest rates are being held down along with super low rates in the world he is out of step so foreign money keeps flooding in and then of course the u.s. treasuries, strong dollar is hurting our employment so he'll have to ponder that. c, powell needs to tell us the collapse in oil, hey, we're well below $50 a barrel acts as a

terrific counter to full employment whatever that is, try amazon, try walmart. american workers have had a lost decade of wage growth. a tall order to get all three on the table when the fed has been so busy leaking to reporters about how darn strong the economy is do some homework it's not powell's job to slay the bear people say that's what you want, jim. oh, give me a break. e i'm laying out the things he needs to do. he may not think that's part of his job. fine but if he doesn't take these steps we'll end up having a bad quarter and real bad year perhaps. now, beyond the fed what else has to happen? what else has to give us -- what else puts us in a bottom the stock market needs to change its coloration now, later tonight we'll hear

from the ceo of johnson & johnson, one of the greatest companies on earth, i have to admit. why not say that it's true. and it's now perceived to be have hidden things we'll hear his side of the story which is important i think this is being blown out of proportion. i'm not saying they're pristine. like many of drug companies it's had its share of recalls this asbestos thing is a problem. i just don't believe it's a $50 billion but let's find out straight from the man himself. i mentioned j&j because it doesn't seem to find a bottom. even if that's exactly what a stock deserves this, is genuine bear market behavior j&j is a fulcrum name and needs to stop going down before we get

a sustained rebound on the average. same goes for goldman sachs, pull manied so hard it trades below tangible book value. i think a lot of people must want that. the financials are hated it was driven by the malaysian government late last night i realize this is a big deal i'm not minimizing it. it took over $500 million in fees to raise $6.5 billion the malaysian government says some of that money was misappropriated and goldman was in on it the guy has pled guilty and we know there are problems. i have doubts about their culpability at the highest levels, the malaysian leadership assured them the proceeds would be used for legitimate investment they even gave goldman sachs written assurances this scandal brought down the foreign malaysian prime

minister there was a good case to be made they were dealing with the elected government and the government that's prosecuting them knows the government gave goldman written assurances on how it trades as if the u.s. government is about to charge it with fraud, criminal fraud that's not going to happen something like that could put goldman sachs out of business and our government learned its lesson on this thing 16 years ago when it hit arthur andersen. they will not do that again. it's going to take a while what can i say what else? faang, oh, man, it needs to stop going down somehow this group has led us lower. can it bottom and take us higher yeah facebook is developing programming. it wasn't about the scandal. it shocked me. it was man bites dog apple should guide down already on the iphone and get it over with

the stock will probably go higher amazon, it will be wiped out by walmart although i like their initiatives. netflix hired the former head of abc entertainment. positive alphabet, nothing good or bad. but maybe that's good. again, faang let us down so we needed to turn around before we can bounce china, what can i say? we need to see something, anything that indicates the chinese are willing to make a trade deal, one the trump administration is willing to accept that's worth about 1,000 points to the dow even though a bad deal is no reason. we don't want a bad deal just to jack the market up that's stupid. put it all together. i think this whole list, i'm calling this one tall order, get used to that guy bottom line, this is the most treacherous market since the financial crisis you need to be nimble and have cash and take a long-term view when it comes to owning stocks because long term they remain an incredible wealth creator. more on that later but we are in the hands of the fed and if it

screws up, then the grinch will be paired with the bear to steal christmas. let's go to w.c. in pennsylvania >> caller: hey, jim. how are you doing? >> i've had better days. how about you are. >> caller: as well after this day >> yeah. >> caller: my stock is kitilray after plans were announced to create a program to do with recreational marijuana, the stock dropped 30%. do you think legalization for recreational use will impact the medical marijuana market >> no, i have been saying the only company i feel has the balance sheet to fight is canopy growth and that's because they got the money. these are going down

canopy got it from constellation. tilray is till worth $6 billion. that seems wrong to me that seems high. got to tell it like it is. that's why we're speaking to sandra in virginia sandra sorry about the accent sandra >> caller: hi, mr. cramer. this is sandra how are you? >> i'm good watching oracle go higher how can i help >> i have jua general question about bankruptcy if you have shares in a stock and hear rumors about the company going bankrupt, what do you do do you hold your shares? >> you look at the balance sheet. sandra, look at the balance sheet. if the balance sheet is opaque and bad, if they have too much debt, then what you're going to be dealing with are short sellers who are going to hound the thing or actual people who are concerned that the balance sheet isn't good enough. that's why i tell people please if you can't read a balance sheet, can't recognize what debt is, you got to be in an index fund you have to because debt is so

important. it's often the enemy of the stock price. in this real treacherous market, the worst one i've seen since the onset of the financial crisis be nimble. have cash. and remember that stocks are the greatest wealth creator of all time so do not be afraid of them do not be afraid of index funds even if people come on air and say it's just a mania. on "mad money" a new report claims johnson and johnson knew its baby powder was tainted with asbestos and kept it secret for decades. and you know what's happened, these articles have rocked the consumers' confidence in the company and the company's share price with the stock losing $40 billion and another 10 today you know what i'll do? i'll sit down with the ceo to hear what the company has to say. remember the days of old when you could count on the santa claus rally to shift shares higher what investors might see is a lump of coal and how starbucks'

partnership with nestle could help you become your own barista so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question, tweet cramer, #madtweets send jim an mail at madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something, head to madmoney.cnbc.com. (toni vo) 'twas the night before christmas, and all thro' the house. not a creature was stirring, but everywhere else... there are performers, dancers, designers the dads and the drivers. there are doers of good and bringers of glee.

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and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $200 back when you when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. j&j and the reuters investigation say they knew for decades certain powders sometimes tested positive for small traces of asbestos >> the reuters report on johnson & johnson shaved about 95 points offer the dow. >> johnson & johnson responding saying that the reuters article is, quote, one-sided false and inflammatory >> we have one story from reuters, the company responding back it's tough to actually say what the impact will be >> an ugly day for averages and

a company facing a huge amount of negativity. johnson & johnson. friday j&j sold off after a reuters investigation that reported some stunning allegations that j&j had known about the presence of asbestos in its baby powder for decades and intentionally hid evidence since asbestos tends to cause cancer that's elie the last place you want to find it. it plunged $3.86 or 2.9% today maybe because of a "new york times" article that came out this saturday that was negative. all told they lost more than $50 billion in market capitalization so is it this a $50 billion problem or blown way out of proportion we need to know whether this issue can be put behind them a closer look with alex gorsky, chairman and ceo of johnson & johnson came here today to give the company's side to this story. welcome ba welcome back to "mad money." >> thank you. >> i pick up a reuters

investigation, says special report, j&j knew for decades that asbestos lurked in its baby powder and i gulped and i said, boy, i want to know whether this is going to last forever. >> jim, thank you very much for having us here and, look, given all the allegations and some of the reports in the media i think it's important as the ceo of johnson & johnson to be here to not only talk with viewers but all of our stakeholders. >> thank you and i give you the floor because i've just read in the last 72 hours pretty much some things about j&j that i actually don't want to believe. >> well, i thinkit's good that i'm here to clarify that and basically clear the record what i first say there are a couple of issues that have been alleged. the first one concerning baby powder and talc and asbestos and is it related to cancer and the second relates to the actions of the company. if i take a few minutes on the first. >> you've got it. >> i would start by saying we n unequivocally believe that our talc, our baby powder does not contain asbestos and that's demonstrated in thousands of

studies, studies not only conducted by johnson & johnson but studies conducted by independent authorities well respected authorities where we work closely with regulators who are overlooking the methodology and use the best testing methodologyi methodologies but continue to improve them and important to keep in mind now, the other important aspect is not only what are you doing to try to prevent things from getting into the talc or baby powder and ensure it's pure but what happened when it was used by consumers here too what the studies show and these studies, jim, are independent, they're conducted by places like the harvard medical school and other bodies, nearly 100,000 patients involving both men and women over decades and what these clearly show is that there's no cause says between talc, baby powder and ovarian cancer or any type of asbestos-related disease.

now, these studies especially some of the testing that was conducted by johnson & johnson, i can tell you not only are these scientists, engineers who study it but moms and dad, brothers and sisters that i have to believe are looking out for what's in the best interest of patients that they serve each and every day. now, the other portion, of course, is what were the company's actions like there's some allegations that maybe we weren't as forthcoming as we should have been what's important to remember is that these things go back to the 1960s and 1970s, 1980s even the reuters author herself stated over the past 15 years there have been no issues related to asbestos in talc or baby powder that's being used. but even if we go back from the very beginning when we've internal enexteand external stu

there was a pretty significant debate about asbestos and talc and baby powder and the fda at that time confirmed not only was the methodology and testing we were using the correct one but also agreed that our talc, our baby powder did not contain asbestos. >> but, alex, reuters investigation says it didn't tell the agency that at least three tests from three different labs from 1972 to 1975 found asbestos in its talc including levels reported as rather high in one case. >> it's important in all of these cases you're reviewing the documents is look at all the information in totality, especially when you're dealing with matters of science. and while there are documents that will refer to one testing methodology versus another, what we found is the outliers are either incomplete or, frank think they're refutable based on the methodology or particular sample they used but if you look at the body of evidence on the whole it's very clear that this

talc was safe as we stated look, the other really important dynamic to remember in this, remember, this was occurring, again, back in the 1970s, 1980s. this was during the same time when johnson & johnson has been recognized as removing tylenol from the market, when there was any kind of a safety issue and that's the same company that was managing through this particular period of time and i can't believe the company that took that dramatic of an action would allow a product that they felt in any way could be harmful to stay on the market >> is there any way you should have known that there was something wrong or is it -- because what happens is, both this and "the new york times," "the new york times" says it starts with the concept there were two people in j&j who raised red flags >> jim, let's go back to the data we believe the talc is safe.

okay, and studies, that's not only what we believe but what studies demonstrated but in any company you'd expect there to be dialogue or debate and frankly that's healthy within an organization but what's really important to focus is not just select one document, one piece of evidence, but to look at the body of evidence in totality. >> okay. >> when you do that in this case, again, we remain very confident in the safety of our products and more importantly in the actions of our people. >> we'll take a break after one last question. the reuters person asserts that your company declined to comment to the article on december 8th you offered to make an expert available but had not done so by thursday evening and turned down repeated requests. >> not true. >> not true. >> we tried to engage in this and provided a large amount of information and our bigger concern why wasn't a lot of this information that we talked about

provided andtalked about in a more open, more balanced and transparent way is there let's take a break and we'll come back and talk about your $5 billion buyback that you announced after the bell and what that says for where you think you are. that's alex gorsky, chairman and ceo of johnson & johnson mr. gorsky will be back.

we're here with alex gorsky from johnson & johnson to get his spoons to these allegations about the presence of asbestos in the talc or not the presence of asbestos in talc. it's important to learn the full story from the company itself including how its pharmaceutical business is performing and how the company is going i'll go right there. after the bell you did something a company tends not to do if they're worried about their balance sheet and announced a 5

billion buyback. tell me about it. >> we did. we announced a 5 billion buyback this afternoon and frankly it's a reflection of our confidence and conviction with the company going forward. and while we're managing these issues we could not be more excited about the future if you look at the fundamental and underlying strength of our pharmaceutical sector or medical device sector and our consumer sector, we think we're well positioned for growth going forward. >> now there are people watching at home and know that i have been recommending johnson & johnson ever since you became a ceo. i was not a big fan previously but you have a aaa balance sheet and announced the buyback but did lose a case in st. louis for -- that had $4.6 billion, 22 people, owe rare kwan cancer, terrible disease how are you confident that a a balance sheet and $5 billion is the right thing to do given the loss in that case. >> i think if we look and we step back and take a broader look at the more recent cases over the last 12, 18, 24 months there's been about 40 in total and about 35 have gone our way

either through decision, an appeal, a dismissal and of the five outstanding, those are also under appeal so, look, we are -- we're confident in going forward and we think that, frankly the science stands behind us and, you know, we're determined to make sure we continue to protect the safety of our products. >> where i spent most of the time today, how about the minors minors who mine talc would be the most exposed to asbestos ratio of illness from asbestos miners versus the rest of the population. >> what you're referring to is one trial i mentioned that contributed to the 100,000 so in addition to patients who had actually been using talc and women and men, this actually was a cohort of miners and millers that worked in the mines so they were exposed to a much greater degree of talc that ordinarily would be done and after several

retrospective studies and analyses including recently what they found again is there's no causation between what they're seeing in the talc they were actually mining and cancer and asbestos-related disease. >> if j&j had this happen to them this weekend, to you, i haveto believe that there were many people who read these articles who have ovarian cancer and called lawyers and you just got -- this was a -- they got a lot from this. what happens >> i would say, look, we always have empathy and sympathy for patients that have been diagnosed with cancer. we're in the business of trying to cure cancer and we're working hard on multiple myeloma, lymphoma. >> one of the reasons that you have a fantastic cancer franchise. >> patients when they get that diagnosis, they're looking for reasons but that's why it's so important to follow the science. in this case the science simply doesn't support some of these correlations that are being drawn. >> my friend jeff was on, a yale

professor and said what's interesting if this scientific issue the company claimed you would have had millions of cases of people coming down with these diseases and not unproven cases. that's jeff. it dozen raise the issue how many people have used baby powder and it doesn't seem like it's been an explosion of cases. >> this is why we keep going back to the data, to large controlled trials that really look at some of these underlying issues, and, frankly, we think we will prevail based upon that science. >> at the same time this is "the new york times" and it is reuters. "the new york times," these are institutions i trust i trust j&j. how about the trust of j&j and is it tarnished by these last 72 hours. >> well, there's nothing more important in our mind than the trust and integrity of johnson & johnson and that's why i'm here today talking to you but what i can tell you is from all of the documents that have been reviewed internally and exte externally, we believe that the employees of johnson & johnson act in a professional and appropriate way throughout the

period. >> "the new york times," in one instance johnson & johnson demanded that the government block unfavorable findings from being made public. an executive wanted assurances from an official at the fda that they would be issued only over my dead body that concerned me. >> well, jim, in my over 25 years almost 30 years in the industry what i can tell you i have tremendous respect for the fda. every day they look out for the health and well-being of all of the people in this country and i don't see them as, you know, someone who is going to roll over easily regarding safety issues they're truly trying to do what's best and i'm sure there could be debate and engagement with them. if you look at the record, the fda consistently approved our testing methodology as well as the fact our talc was safe. >> we saw in the reuters article there was a change in the way you worded whether you always knew it was safe or whether you knew it was safe that concerned me too because it seemed like that maybe you knew something was wrong and you didn't tell us >> jim, let me be clear

throughout the period being discussed, 1950s, '60s, '70 1950s, '60s, '70s, '80s and '90s we are certain based upon the data we were talking about earlier. if you go earlier than that, okay, remember, this product has been on the market since the late 1800s, obviously the testing methodologies were different at that time and so that's why we changed the word always based upon, you know, making sure we were trying to be as accurate as possible. >> why did you come on here. >> i think it's important for your viewers, but, frankly, all of our stakeholders to ensure that they know every day 140,000 employees at johnson & johnson around the world are doing their best to assure the safety and high quality of our products and everything we do and want to make sure our trust and integrity that we've earned over the last 130 years is maintained for the next 130 years. >> you volunteered to come on. >> i did. >> okay. fair enough. that's alex gorsky, ceo and chairman of johnson & johnson. "mad money" is back after the break.

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just how treacherous is this

market for decades the followed the standard & poor's os later which tells you when stocks are gotten oversold historically when did goes below minus 5 it made sense to cover short positions and do buying. this worked year after year with very few exceptions. on friday we went below minus 5. today it hit minus 7.4 which makes us overdue for a bounce. however, when this market gets on a negative selling jag it blows through all sorts of conventions. we kept going lower. remember the christmas rally thesis, out the door because of the fed. even if there's a shutdown pullback there's always always a buying opportunity remember that it usually trades up in the third year of a presidential term when it's first term president, not this administration all these investigations into the president's business dealings, i think, have taken their toll remember the art of the deal the president has been trying to

get trade deals every country except china where he wants total capitulation no deal has been approved anywhere congress is about to debate the new arrangement with canada and mexico trade doesn't map into the left/right spectrum. you've got free traders, protectionism on both parties so the white house needs democratic votes but why would the democrats want to give him a win? remember how the yield conduct was supposed to have inflection at this point in the business cycle? in other words, long-term rates are supposed to be above short-term rates and that's breaking down, something that signals a recession. the economy is weaker than we thought and our nation's monetary policy is out of step with the rest of the world one more example of fed's cluelessness putting downward pressure on long-term rates even as we keep raising short-term ones all these have done serious damage to investor confidence. money has been flooding out of stocks often seems like there's nothing

safe to buy. witness the incredible repeated slaughter of stocks like johnson & johnson which we covered earlier tonight and goldman sachs which i mentioned at the top. one of the best brokers for heaven's sake. these issues almost make you wish for a crash, don't they a crash so we can get the down side over with in a bear market like this that's not how things play out hence we find the dribble, dribble, dribble bearish rotation, almost chinese water tortue and exhausted the most brain dead ones who would never sell anything no matter what the sellers will ultimately prove to be mistaken i disagree with jeff gunlock, a fine money manager who told us passive investing has reached a mania stage. to me that's wrong as much as i fret about the stock market i am still making regular contributions to my

index funds for my retirement account. i'm doing it with my children even as i personally full disclosure mix certificates of deposit with the index funds i'm buying i'm getting older and need to be concerned about my principal my father kept just buying stock, index funds until he was 91 i don't know cds are not so bad plus i have lots of stock in my s&p funds anyway am i one of those brain dead followers into the house of mania? no the truth is even though we are in an ugly situation stocks have been one of the greatest kriegs of wealth of all time. we can't lose sight of that. i don't know when the market will find a bottom i talked about that at the top of the show but i think it's worth sitting tight on your index funds because someday we will bottom. and you don't want to feel like an idiot for dumping all your stock exposure right into the teeth of this oversold decline stick with cramer.

it is time

time for "the lightning round. >> sell, sell, sell. >> and then "the lightning round" is over are you ready, skee-daddy? time for "the lightning round. let's start with charles in texas. charles. >> caller: i want a boo-yah "lightning round" from cramer for a buy or a watch on apache >> apache. that's a watch they're good guys but it doesn't have the right -- it doesn't have what it takes to be in this market and that will prevent you from getting killed in an oil stock. john in washington john. >> caller: hi, jim i'd like to know if roku's fundamentals are in place so they can participate in a recovery when it come. >> yes, they are i do worry greatly about amazon, can you imagine if amazon is a trojan horse and amazon could have shown you advertisements i think it's powerful. dennis in michigan.

>> caller: this is dennis. i'm calling in regards to diamo diamondback energy >> boy, it was an hour and ten minutes today. i said, you can't own the regular e and ps you need yield that's why i'm recommending to the club british petroleum now bp yield will protect new this awful market paul in new york paul >> caller: hello, mr. cramer happy holidays to you and the "mad money" crew >> right back at you >> caller: i have a nice position in cara therapeutics. >> i thought they did a lot of good it is not exactly what people want in the market but one day this market will change its coloration and they'll come back to buying cara how about p.t. in utah. >> caller: how about a chicken little boo-yah to you. >> i like that i hadn't thought of that go ahead >> caller: what's going on with

waste management. >> i am a buyer of waste -- last quarter as terrific. let it come in >> buy, buy, buy >> a lot is at stake there joshua in pennsylvania >> caller: i got my stock accelerate diagnostidiagnostics. i'm trying to figure out hold, sell, buy. >> i've been stumped by them i do not know the name i will accelerate the homework on that. jason. >> caller: it's jason from long island call concerning buying long on general mills. >> i cannot believe general mills has fallen to 5% yield and can't believe it's this cheap but i have to tell you something i have no catalyst all i can do is buy the stock, and, you know, tell you to buy the stock and wait until they

turn it around which is not something you want to hear 5% yield is -- should protect the stock. it's down 40%, this is the stock of general mills, for heaven's sakes. what an awful market spencer in minnesota spencer. >> caller: hey, jim. >> hey, spence. >> caller: thanks for taking my call congratulations on your philadelphia eagles with victory last night. >> well, you know, the coach, the coach delivered and players delivered. nick foles delivered let's keep going, dallas, i need to you lose. what's up? >> caller: i was just -- i've been watching winnebago forever and the last couple of years they went from 20 up to 60 and now they're back down to 20. >> yeah. >> caller: i was just wondering if you recommend. >> i can't because with the fed tightening that's precisely the kind of stock, even though oil is down a lot and would think it would be good. forehas be

i have to keep people out of problematic situations and winnebago, some people think they're doing better than thor al in california al >> caller: happy boo-yah, bakersfield. spi global >> huh spi global hey, i saw doug pederson at a party and reminded how good the stock is you know, look, is the stock going down yes. is the company good? yes. what else can i say? let's go to janice in washington, please >> caller: hello, hello, jim >> hey, janice >> caller: my son comes by a few times a week and we always watch your show. >> that's great. >> caller: i would like to have your opinion on the flr stocks i'm a 79-year-old grandmother and have a bit of their stock.

>> it is at a 52-week low. the engineering construction stocks have gone out of favor. i don't want to you sell it here it's too low it's a good company. it's well run. and you never know when you'll get a pop and that, ladies and gentlemen, the conclusion of "the lightning round." [ buzzer ] >> announcer: "the lightning round" is sponsored by td ameritrade really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.

a lot of stocks aren't getting the credit they deserve. take starbucks on friday we spoke to their ceo and at his rosastery in new york city for example, earlier this year starbucks sold the international rights to consumer package goods business to necessarily, giant swiss company for 7.15 billion in a partnership that's been beneficial to both on friday we got a chance to check in with him and mark snyder, a man you hardly see interviewed, ceo of nestle's to hear about the alliance. take a look. one of the things i loved about how starbucks stock bottomed was because you guys got together in a partnership that was lucrative for everyone and is helping the consumer, so, mark, tell us about it >> that's the spirit of their partnership and the way kevin a felt bit it plays to the strength of both companies and allows starbucks to focus on this thriving business and national expansion

and then starbucks partners with us for what we do best and that's consumer packaged goods in 80 companies we have coffee capsules so we could do a lot of things for starbucks and they can do a lot for us. we love the coffee and love the brand. >> what i thought was amazing this, is all ready i didn't expect anything good till 2019 so this is working out well ahead, right. >> it is, jim. part of that is i think mark and i found that as we got this partnership together our teams have worked dramatically to accelerate the implementation of what we're doing to bring starbucks coffee on to nespresso and now preparing to enter a number of new markets with starbucks through the cpg and food services capabilities that nestle brings. >> now, i've got to tell you, when i was doing the work, i've always loved your company that understands sustainability and the ecosystem and wants to leave a small footprint. our viewers want to own stock

and the stock trades in the adr. when can we just own nestle's like the way we would own a procter or kellogg >> well, i think, look, we are excited about the long-term prospects and sustainability is part of it and those things we share with starbucks that made it so easy to get together so the cultures are similar. we noticed when the two teams sort of got together and talked about coffee it was amazing how well they clicked and that's also part of being ahead of schedule now that made it so easy but i think that also translates to a nice long-term prospective for the business and sustainability is our mind-set especially this day and age, sustainability in our stock and year after year increases is something that investors love about us. >> i think we're in an uncertain time and both of you gentlemen will be able to put up good numbers year after year after year despite the uncertain time there are things bought no matter

what you have a great stable of brands why don't you go over some of that are on fire. >> well, clearly coffee is one of them and i think between starbucks and necessaspresso an necessary ka i-- nescafe. >> it's even stronger overseas europe and asia this is where that brand is really on fire in addition to that one of our businesses that's really doing well is pet care the purina brand going around the world and clearly pet lovers are willing to spend for their pets and this is something we cater to we also caught the trend to healthy hydration, i.e. water as opposed to carb natured soft drinks and capturing waves and ventures and riding it over 10, 20, 30 years is what nestle stands for. >> i have to ask, plastic versus

glass. let's get that on the table because we know we want glass. unless you can recycle all the glass. >> on plastic we understand there's an issue and working on a larger degree of recycling and have a strong commitment by the year 2025 we want to make all of our packaging material reusable or recyclable and we're working towards that we just found the an statute of packaging science last week and made an announcement around that because commitment is one thing but you have to sweat the details and do the specifics to do better. >> kevin is doing good also doing well for shareholders? >> well, we believe firmly that it is. you know, that the pursuit of profit is not indirect conflict with the pursuit of doing good and actually embracing the pursuit of doing good is a part of the starbucks brand and woven into who we are, into our mission and values and candidly it's part of why customers want to do business with yus we care about the environment,

sustainability is one of the three social impact pillars that we have. and as mark said, this is something we share in common, the work we're doing around sustainability beginning with making coffee the first sustainable agricultural product, to the products that we serve coffee in to our stores and so doing good is actually a creative brand and to shareholder and it will be true to who we are and we'll continue to do that why couldn't you do on your own what nestle is doing with you. >> i've been focused on streamlining the company so that we focus on the things that we do well and that create the most value for our customers and our shareholders and we would look at the cpg and food services business, we had a business in u.s. and canada but n nonexist tent in the rest of the world. let's find one that can take us to 5 million points of presence in 180 countries and so nestle was the right strategic partner for us and mark and i have

forged that partnership, our teams are now engaged operationalizing it and this partnership will create value for years to come. >> all right i want to thank both of you. kevin johnson, starbucks ceo and mark schneider, nestle's ceo that we don't hear enough from classic world domination fantastic work thank you, gentlemen >> thanks, jim. or where you trade,rade, you'll only pay $4.95. fidelity. open an account today.

after the close we got a good number from oracle and got a good number from j&j, meaning a buyback of 5 billion i want to you make up your mind about j&j yourself and by the way tomorrow i'm still going to use their talcum powder like i have for the last 40 years i didn't hear anything that would make me feel bad i have sympathy for whoever is sick for whatever reason i always say that's a bull market somewhere i promise to find it right here for you on "mad money. i'm jim cramer i will 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." ♪ bam! good luck, rook. good luck, nick. thank you. one more. there's only one rule in "shark tank" -- don't screw it up. [ laughs ] narrator: first into the tank is an innovative way to control bad habits. man: here we go. five, four... here we go. man #2: four, three -- man: four, three, two -- [ exhales sharply ] hello, sharks. i'm ryan tseng.