rally. >> you tweak me, buddy tweak away >> have you read his articles on cnbc.com that does it for us. thanks for watching. see you back here tomorrow at 5:00 meantime don't go in iwhere. full ierewntvi with tim cook of apple ceo of apple wit jim when "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 kramer, welcome to "mad money," welcome to one market in san francisco and welcome to cramer i'm just trying to make you some money. my job is to entertain you and educate and teach you. so call me or tweet me fine is back

long live f.a.n.g. or did f.a.n.g. never really go away only its supporters did. on a day where the dow gained 256 points, nasdaq vaulted 1.08% it was the beaten down faang, the double "a," amazon and apple, that led the way. do we have to circle back to these once loved now hated names? sadly, i think the answer may be yes. why don't we start with the "f," facebook, which ignited today's rally. this morning, jpmorgan named facebook one of its best internet days for 2019 because according to jpmorgan, facebook is stickier than many think with recent metrics mostly stable and our proprietary survey work shows solid engagement in short, business is good but you want to know the real reason why this stock has stopped going down the media has run out of new revelations about facebook's bad behavior

no one came forward from the company and said, tell me, let me tell you what you want to know the truth they're a pack of liars. no, that didn't happen no one named names unless some inside's willing to break their nondisclosure agreement, pretty much everything that can be written negatively has been written. yes, we get it, facebook's a bad actor, they sold your data, sold you out to other companies as a matter of course but what are you going to do, switch to a competitor what competitor? without new grist for the media, people are back to using instagram around the world, advertisers love the darn thing. where else are they supposed to reach people it would be great if we lived in a world where consumers punished businesses for their bad behavior that's not a reality how about apple? today we spent some time with tim cook talking about how the chinese problems could be ephemeral if we get a trade deal and what tim had to say and some of my own work, i'm feeling more optimistic that we'll get a trade deal, more important, i

feel confident that apple's service revenues and the other revenues whether we're talking about the watch or the air pads on the computers are going to make up a bigger piece of the pie relative to phones if we valued apple like a consumer products company like co colgate, where would the stock be right now it resides at $150 according to tim, i'm much more certain that these tech analysts who follow the company simply don't know how to value the darn thing so they value it negatively they treat apple like it's a pure hardware company, not giving credit for the razor blade business where customer loyalty is bringing in new income for service stream from iphone 5 and other older iterations black & decker's hardware company, this would be a good compare, trades at a much higher than multiple than apple if you want a hardware company and they make trills. people bash apple for not being

innovative enough but with your stock selling for 11 times earnings, how innovative do you need to be at this point then there's amazon. i don't know what to say other than it turned out to be an amazon christmas meanwhile many of the clouds kings have been on fire. i think that amazon's the gold standard, the cloud business is the cheapest and the best although i'm in awe of what satye's put together at microsoft. i'm not bullish to say bill miller came on our air yesterday and printed amazon will double but i could see this $1,656 stock running to $2,000 now that the market is circling back to technology and faang and honestly, i have no idea how netflix is valued almost 20% since the beginning of 2019. i thought it would be down considering all the money they need to spend to get content it's a real conundrum. i love to watch netflix. i think the company's amazing. at this point, though, its stock is reflecting a reacceleration of growth in both domestic and

international, and i'm not sure that's right it's had a monster move. i think you need to be a little careful. finally, there's alphabet formerly known as google this is a total black box, no one knows how it's doing, no one, no one knows how the autonomous driving is going, nobody knows if they're monetizing youtube effectively nobody knows how the other moon shots are going, the other banks that are recruiting some very good talent because we know so little, all i can say is that alphabet is inexpensive on how it's been doing with a lot of optionality and great, great piles of cash. i just wish they used some of that money still, we own the stock here for my travel trust which you can follow on by joining the action alerts plus.com club and with the stock trading off its highs, this may be ripe for a run, especially with an exciting, no matter how small, of ceo larry page, who's become the modern day howard hughes. if you're ahead, give it a google listen, i'm sure that the last big shakeout, the one that brought amazon down below $1,300 and made investors feel that

betting on faang was a total mug's game it's entirely possible that facebook could be, like, to get some new revelations about management's cavalier approach to ethics but i think that story's run its course you may have a real rally in facebook here because those who were down, going to downgrade it will look at the action and say, i'm holding it in, it's too late to sell but the bigger question is, is it too late to buy? the bottom line is with the exception of netflix, i don't think so there's too much opportunity in faang even among the likes of facebook even if only for a trade hey, let's take some calls let's go to jim in connecticut jim. >> booya, jim, you're the last of the runonesque characters i wanted to tell you that i'm 75 and i will never clip a coupon here's why i'm calling i had a stock that's linked to the russell index that went from

$79 down to $57, and in the last 10 days, the russell has been up every day except the day that apple reported its earnings. my question to you is if the russell gets to 1460 would you change your opinion on the small caps >> i think the small caps are fine i particularly like this idea that you don't want to clip the coupon, sell them on bonds i like the mixture i'm a total return guy, i like small, medium, and large and a smattering of gold, that's my pastiche if not my mosaic of how to save even for someone who's 75 damon runon, what a writer faang seems to have gotten its bite back and with the exception of netflix, i'd say it's not too late to buy. on "mad money" tonight, last week apple had its worst session since 2013 there's what some would consider to be a dire quarterly warning which also helped to push the dow down to a whopping 660

points going one-on-one with ceo tim cook find out more about what the company is seeing in china, where he sees growth in the coming year, the service revenue streams and let's just say apple's single greatest contribution to mankind. then, more than just botox, the miring drug and how it could boost the stock. and oil falls rapid fire in tonight's west coast edition of the lightning round so stick with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets send jim an e-mail or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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what do we do with apple now that it's become one of the most

hated stocks around? there was nothing to like about last week's revenue shortfall driven by iphone weakness, especially in china. we've heard a lot of theories about what might be going wrong here at apple. but you know what? i prefer to go straight to the source earlier today, we snuck out to cupertino for a long meeting with apple ceo tim cook. >> tim, you know i always say, own it, don't trade it but right now, people are saying, jim, give me the investment case for buying the stock >> well, you know, i never try to sell a stock. i try to sell our products >> never have. >> however, let me tell you the way i look at it >> okay. >> we manage the company for the long-term. the most important things in apple, one, a culture of innovation this team is unbelievable in creating hardware and software and services and getting them all to work together it just works. second, we have a very large, active install bay it hit $1.3 billion a year ago,

and we've added about 100 million in the last 12 months. third, highest customer satisfaction, loyalty in the industry so you put those two things together, if you got a lot of big, active install bays and you got a lot of heavy customers, then you have a recurring ruc revenue stream on your product business and because of our ecos ecosystem that we built, which has unbelievable developers in it and an app store to get services out there, we built the services business that was, you know, little over $7 billion in 2010 last year, the, for the calendar year, over $41 billion and so, we've said that, you know, we're going to double the 2016 numbers by 2020 and so we're on a fast clip there. and then, of course, we are shareholder friendly on our capital allocation so, you put all these things together and those are the most important things for us,

innovation, customer satisfaction, and the overall size and loyalty of our customers. >> okay, so most tech companies, i think, don't innovate nearly as much as you, but let me just posit what we've got you take so many risks that i don't think you get credit for for instance, we had what turned out to be ridiculous strings around our neck and then we got the air pods we loved our dumb watch that told time and now we have a smart watch that saves our live. we have the lightning jack we have the iphone 10, that takes better pictures. why do you, therefore, have a 12 multiple because to me, that is wrong >> yeah, i think it's wrong, too. but i tell you what i focus on is the customers and so the customers speak every quarter. they speak every year. they speak every day and the most important thing for us is that they're satisfied,

and so when i read the e-mails and so forth from customers, they're telling me how the apple watch has changed their lives. they're telling me how it motivated them to be more fit, be more active they're telling me that they discovered they have afib. they're telling me they found a problem with their heart that they didn't know existed, and if they wouldn't have reached out to a doctor, they might have died and so, these are life-changing things we've got machine learning embedded in our silicon in our phones you know, this allowsus not only the power efficiency to have an incredible performance and a very small package, but it allows us to manipulate this data on the phone, have the transactions on the phone as opposed to letting them out in the world and, you know, this -- the whole privacy issue for -- we've always been on the right side of privacy, but the market is now moving, and so this is an incredible strength that we've

built. the photos that you're able to take with your phone, as you said, i mean, these are life-changing things if you like to chronicle your life this morning, i picked up my phone and i saw a memory from a year ago >> i love the memory pic >> i love it you know you see my nephew or somebody that's very important to you and their face just appears and you have a slide show built for you. these things are -- they're unbelievable, and our customers love them. that's the most important thing. >> okay, so let's unpack that. my daughter has the 5. why? because she loves it she said, listen, dad, if you put it in the washing machine, like your wife did, i'll get a new one, but you can't pry it out of my cold, dead hands because i love it. she is not an upgrader because you made the greatest product. what do we do about that >> the most important thing for me is that she's happy that is the most important thing. now, if she's not upgrading for another reason, maybe it's too

much of a hassle for her to upgrade, maybe she's worried about the transfer of data, all of this stuff, we want to help on and you know, we've got the store that you're in that's very focused on having the best customer experience there. helping people set up their new phone, making sure all their data is transferred. and also, allowing them to trade in their current phone, which begins to look like a subsidy that the carrier may have previously provided, and it sort of offsets some of the cost of the new phone. >> these issues are all occurring at the same time that we do have china you were very abject about china and the 100% of what we didn't think of the upside that went away there are issues involving, perhaps, not boycotts, we know that's off the table but patriotism in a strange way, meaning if i can get a huawei with the subsidy, why should i get an apple it's conspicuously american. how long can that last

>> here's what we saw in china, specifically the chinese economy, it seemed to us, began to slow maybe in the second half of the year, and it was on some sort of rational trajectory we believe, based on what we saw on the timing of it, that the tension, the trade war tension with the u.s. created this more sharp downturn i believe that's temporary, because i think that when you really look at it, it's in both countries' best interest to come to an agreement. it is a complex -- very complex trade agreement and it needs to be updated but i'm -- as i've said before, i'm very optimistic that this will happen, and so that could -- that clearly will be good, not only for us, frankly, but i think more about the world in general, the world needs a strong u.s. and china economy

for the world economy to be strong >> my understanding is even the hardliners in the white house have moved on this issue i know that president trump calls you a friend and i know you go back and forth because you represent the greatest that we have in america, and my understanding is that there are people who feel exactly like you, which means a deal is possible >> i think a deal is very possible and i've heard some very encouraging words. >> even of recent? >> yes yes. very recently. and so, i don't speak for them obviously. i do talk with them and i give them my ideas and thoughts >> okay. now, we got to talk about some of these people who, the naysayers and we've dealt with them before when the stock was substantially lower. a web bush analyst says apple, clearly, the darkest days represent challenging growth "journal," it's too soon to call the 10-r a flop after only a few months what do you say to people who say darkest days >> i say, bologna.

i call bologna on that let me tell you how i view this. here's the truth of what the facts are. since we began shipping the iphone 10r, it has been the most popular iphone every day, every single day, from when we started shipping until now >> but how about relatively? other ones -- >> do i want to sell more? of course i do of course i'd like to sell more. and you know, we're working on that, and -- but in terms of the product itself, it's an incredibly innovative product. it has a bunch of advanced technologies in it from the chip with the neural engine to security embedded to an edge to edge liquid retina display, the first in the industry, longest battery life ever in an iphone i mean, it is unbelievable and the photos that you can take of your life and of your loved ones, i mean, it beats up many,

many of the stand along cameras that you could buy now that nobody uses anymore. and so, these things are, you know, give a lot of value to the customer so, that's that. in terms of the nay sayer, i've heard this over and over again, jim. i've heard it in 2001. i've heard it in 2005 and '7 and '8 and '10 and '12 and '13 you can probably find the same quotes from the same people over and over again and i'm not defensive on it. this is america. and you can say what you want. but i'm giving you my honest opinion is that there is a culture of innovation in apple, and that culture of innovation combined with these incredible loyal customers, happy customers, this ecosystem, this virtuous ecosystem is something that's probably underappreciated >> then you were surprised with the market reaction to both when you decided to not reveal units

and when you revealed the shortfall? >> i'm never surprised by the market, to be honest with you, because i think the market is quite emotional in the short-term and we sort of look through all of that. we think about the long-term, and so when i look at the long-term health of the company, it has never been better the product pipeline has never been better. the ecosystem has never been stronger the services are on a tear if you look at -- let's just take wearables as an example >> sure. >> wearables is mainly the apple watch, and air pods. >> yes >> if you look at this and you -- on a trailing basis, so i'm not projecting, on a trailing basis, they've already -- we've already exceeded -- the revenue for wearables is already more than 50% more than ipod was at its peak now, this is a product that everyone -- ipod would say -- i think everybody would say it was an incredibly important product

for apple, full of nnovation, and probably the trigger for the company getting on a very different trajectory and into other markets. and so, already exceeded it by 50% at its peak, at its peak also, if you take airpods and the watch separately, and you sort of back these up in align it to the launch date of ipod as well where all of them have a comparable amount of time, you would find that each one independently is, like, four to six times ahead of where ipod was at a comparable period of time and so, this airpods are becoming ubiquitous out there. people love them i get notes every day. they're chock-full of technology, but they just work it's the elegance of them, but with significant technology and built right in, an unbelievable

user interface >> we're going to talk about innovation we'll be right back more with tim cook in a second why bother mastering something? because when you want to create an entirely new feeling, the difference between excellence and mastery, is all the difference in the world. introducing the all-new lexus es. a product of mastery. experience amazing at your lexus dealer.

all right, i've been following stocks for 40 years, tim, and you guys are a fount of innovation my wife said, tell them, what do they want, time travel what do you have to do >> hey, time travel sounds kind of cool. >> right the reason i mention it is because there are companies that tend to go from 1% to 4% if they get 5%, they get a 28 multiple and yet the analysts who follow your company continue to look for units of phones, not

thinking about the revenue yet if they were procter and gamble and they got that many razors with the razor blade, they would pay 28 times earnings. are you followed by the wrong people >> i think that our story isn't well understood. i think apple is not well understood in some of the wall street if you -- for example, i think there are several people that believe the most important metric is how many iphones are sold in a given 90-day period or what the revenues is this goes -- this is far, far down my list, because the point is, if somebody decides to buy an iphone a little later, if, because of the battery huge discount that we gave, they decide to hold on a little longer, i'm great with that. i want the customer to be happy. we work for them and so -- but the important thing is that they're happy,

because if they're happy, they will eventually replace that product with another, and the services and the ecosystem around that will thrive. >> as long as it's north of 60%, tim, i don't know how you get people to think even if it's $20 billion in service revenue, it's the 62%, it is overwhelming and they don't know what to do and i understand the conundrum, tim. they don't know what to do because the cell phone's such a big part of the pot. >> but if you sort of back up and look at apple, in our last fiscal year, we had $100 billion in revenue that was not iphone $100 billion and in this last quarter, if you take everything outside of iphone, it grew at 19% 19% on a huge business >> tim, again, it's consumer package goods company but not a tech -- you have the best tech consumer package company, why not accept it and say, you know what we're just -- we want to be covered by other people.

>> i don't think we get to pick who we're covered by >> well, i don't know. maybe you could. i've got some ideas for you. >> okay. >> i talked to some people at walmart yesterday, and an arrangement with walmart flip cart to take over india with a budget phone rather than doing it piecemeal >> for us, we're about making the best product that enriches people's lives and so, we're not about making the cheapest >> okay. >> we want to make a great value, but that's not necessarily the cheapest and so, for us, what we've seen is there's enough people in every country in the world that we play in that we can have a really good business by selling the best phone now, the best phone, we knew that as we went to the 10 and then the follow-on of the 10s and the 10s max, that everybody would not want to spend a thousand dollars for the phone, and so we made the iphone 10r and we put as many of the

advanced technologies as we could that that phone. >> flip card to the subsidy. >> we priced it right between the 8 and the 8 plus of the year before but in india in general, we're all in, it is a major focus. if you look at how we've done over the years, we've gone from, you know, $100 million to $200 million to last year we exceeded $2 billion. that $2 billion was flat year over year after rapid, rapid growth and so we have more work to do. we'd like to put stores there. we would like some of the duties and so forth that are put on the products to go away. and, we're working closely with the team there, and i -- i believe that we'll have better results at some point in the future i'm not -- i'm not in the forecasting mode here today but it's an important market for us. >> you have people who are naysayers, one of the naysayers is not an analyst, it's

qualcomm they keep saying, you're going to have to come to the table, lost a suit in germany, china. wait until you see them cave are you going to cave? >> no. look, the truth is, we haven't been in any settlement discussions with them since the third calendar quarter of last year that is the truth. so, i'm not sure where that thinking is coming from. the issue that we have with qualcomm is that they have a policy of no license, no chips this is in -- in our view, illegal, and so many regulators in many different countries agree with this. secondly, they have an obligation to offer their patent portfolio on a fair, reasonable, and nondiscriminatory basis, and they don't do that they charge exorbitant prices, and they have a lot of different tactics they use to do that and that's not just us saying that

i mean, you can see what's coming out of the ftc trial here in the united states and obviously, i have a issue with some of their other tactics that i'm sure you've read about. >> right, that they say you are in settlement talks all the time >> not just that but the paying somebody to write fake news and then promoting it this is stuff that should be beneath companies. this is not how things should operate. >> let's talk about competition. the other company i think of as innovation is amazon and they do great voice, you have voice, it's a bit of a contest, tim if you threw -- if you have unlimited capital and you throw it at voice, would it make siri even better? >> we're putting a ton of investment in siri if you look at siri today, jim, we have a bit over 500 million devices that are using siri out there. siri-enabled and it's siri's used over 10 billion times a month. and it's in 21 different

languages and 30-something countries. and so, we've tried to do -- we tried to create a global product. we're not in every country yet we want to be. and if you want something that is something that has been created in your device, siri is the best place to do that, and i think i get more and more great things every day, the quality is going up you know, voice is a never-ending journey we all speak a bit differently i have a southern dialect, not as southern as i used to, but there's a lot of stuff to do there, but i'm highly confident in our ability to keep innovating like crazy there. >> okay. last question because they're giving me some wrap. healthcare if you hooked up with different -- could you make it so that i can sync i need to sync, i need to handshake with my doctor and payments, it could be huge if you look at paypal, they've got a 30 multiple, mastercard.

can you layer either one of those on to be able to jump, even though it's huge, the service stream, take it so that it's 40% of your company by doing more in payments, more in health >> on services, you will see us announce new services this year. there will be more things coming i don't want to tell you what they are >> material. >> i believe they'll be material over time. >> okay. >> i'm not going to forecast >> fair enough >> precisely the ramps and so forth. but there are things that we feel really great about that we've been working on for multiple years on the healthcare in particular, and sort of your well being, this is an area that i believe if you zoom out into the future, and you look back, and you ask the question, what was apple's greatest contribution to mankind, it will be about health our business has always been about enriching people's lives, and as we've gotten into healthcare more and more,

through the watch and through other things that we've created with research kit and care kit, and putting your medical records on the iphone, this is a huge deal, and it's something that is very important for people. we are democratizing it. we are taking what has been with the institutions and empowering the individual to manage their health and we're just at the front end of this. but i do think, looking back, in the future, you will answer that question, apple's most important contribution to mankind has been in health. >> tim cook, ceo of apple, thank you so much. >> great to see you. thank you for having me. >> great to see you. now you know the story behind just the units of the cell phone. tim cook, ceo of apple stay with us

one-millionth order. millionth order. ♪ there goes our first big order. ♪ 44, 45, 46... how many of these did they order? ooh, that's hot. ♪ you know, we could sell these. nah. ♪ we don't bake. ♪ opportunity. what we deliver by delivering.

♪ all right. what is it going to take for stock to make a comeback this drug maker, a former

darling of this market, has spent years in the doghouse. thanks to worries about slowing growth in patent expirations but in the last few weeks, the stock, which sells for just ten times earnings, has started to rebound. can it keep climbing earlier today, we checked in with the chairman and ceo of allergan, find out where his company might be headed. take a look. >> brent, i've got to understand what's happened here a few years ago, your stock was worth a hundred billion, now it's worth $46 billion yet you have more drugs in the pipe and you have a much better crew of leadership how could it be cut in half? i'm not talking about the pfizer deal i'm just talking about the valuation. while you've got so much that's better than it was three years ago. >> yeah, look, i think our company has been misunderstood, maybe some of it was some unforced errors we caused and maybe some were just market driven the reality is that you have to look at the underlying operational performance of the company.

in 2018, three quarters of the year in, which is what we've reported, the core business grew 7.7% that's 90% of allergan we have now 12 programs in phase 3 development and almost 60 other earlier to mid stage programs in development. we have a great company. we need to do a better job showing that to investors and other stakeholders >> well, go over the unforced errors i want everyone to recognize that they could be history >> well, i think people didn't fully appreciate when generic -- when ristasis could go generic we've lost the intellectual property around that and that is imminent and that's a -- almost $1.5 billion product on top of that, as you know, commissioner gottlieb at the fda came in and really did the right thing and created more competition for generics, including complex generics so we lost about another $1.5 billion of branded products. this all happened last year. it's almost in the rear view mirror for us.

but the core business, once you strip away those products, and we'll annualize them soon, is really healthy, really robust, and the team at allergan is doing an amazing job >> you made some acquisitions. not all of them have panned out, brent. >> well, most of them have and look, if you look at the quantum of deals we've done and i've been ceo for five years, my fifth anniversary was just a couple weeks ago, we've done over $100 billion of deals i would say the vast majority of them have worked out not all of them have not all of them ever will. that's part of the rick of doing m&a, but the vast majority of them have. and so we feel good about it we've learned a lot from the ones that haven't. we revved them, we talk about them openly. but really, we're focused on building a great company that's going to win in the four therapeutic areas where we compete. >> let's talk about those because we have the negatives out of the way but i want to first talk about aesthetics because i've got to tell you, i think this is the great payer, has nothing to do with united health or medicare, and the

botox franchise, there are people who say that it's challenged i think the challenge is frankly are nowhere. do you agree >> i do agree. medical aesthetics, in my opinion, is the best business in the biopharmaceutical space. you just said it it's highly durable, cash pay all over the world, and it's less regulated so we don't have to deal with government payers anywhere in the world. it's growing it's a growing market. we believe it will double over the next couple of years and we are the market leader in every segment we compete with the best brands, whether it be botox, juviderm, so on and so forth so when we look at this market, and our position in it, it is an amazing business, and our team is doing just a great job. >> not getting any credit, i think, for what you're doing, migraine or major depressant and people don't believe there could be an acute pill but you're getting some good results. >> we've gotten all the results and now we're in the process of

filing with the nda or the application with the fda and governments around the world so we know we have it we know the risk-benefit is incredibly positive and we should be launching it towards the end of this year or early next year. so we will have the best migraine portfolio we'll have botox for chronic preventive we'll have the only pill for acute treatment. and then we have an oral cgrp for prophylaxis coming the following year >> explain for people in english, you're talking about, you think one's coming on, you pop it this is an excedrin migraine, this is something that works >> what launched last year was these great innovations, these cprgs, they're shots they're used to prevent migraine you have to take them every month or every two weeks for the rest of your life. what we have is a pill you take on demand and so you feel a migraine coming on, which most people are pretty used to doing, they take a pill that's what we have. it's a novel cgrp mechanism and it should work great >> amazingly, both i and gi

tract, no one talks about them but they're good franchises. >> we're the world leader in eye care and the pharmaceutical industry, both front and back of the eye. we are the world's leader in glaucoma and back of the eye, we are moving very rapidly into areas like wet amd, geographic atrophy where there's no treatment for patients whatsoever this could be an amazing breakthrough as well as gene therapy and gene editing >> if i had a -- an actual pure play on medical aesthetics, i think it would be worth the price of your company, and yet people keep saying he's not doing anything transformational. have you ever thought about the idea of giving us a medalist company and then all these other fantastic drugs that are going to revolutionize mental and revolution eyes eye care >> we do think about it and our board of directors thinks about that regularly the issue is, botox is the anchor brand of medical aesthetics we sell more botox for

therapeutic like migraine or overactive bladder or spasticity disorders than we do for wrinkles and to break botox apart, to break a brand of that power, of that strength, right, it's ubiquitous, an eponym for the procedure. >> there are drugs that you have in the pipe that i think are monster drugs and a lot of the companies i've seen out here are saying, listen, we want to put these high growth drugs in a different silo from things that just are good, solid growth. people keep wanting this from you, brent why can't you create the value that they want with a pen? >> because first of all, to separate a company is a multiple year process other companies have talked about it, taken them two or three years so it's not a quick solve solution second, we don't believe today that it's the right thing. but it may be tomorrow we always are evaluating the opportunities. we don't have scale outside the u.s. it would be very expensive for us to do we still have $20 billion of

debt that would have to be divided among the companies. that would hurt the debt holders. there are other complexities to this than saying split the company. that being said, we're always looking for ways to create value. i have done many transformational moves i'm not afraid to do it. it's just not the right time today. we will solve the growth issue by lapsing the loes or the losses of exclusivity and the underlying core business is growing and the pipeline looks very encouraging >> thank you so much to brent saunders, the chairman and president and ceo of allergan, agn. i never thought i'd see the stock down here but maybe that's why it might be real interesting to buy too hey, darryl. would you choose the network rated #1 in the nation by the experts, or the one awarded by the people? uh... correct! you don't have to choose, 'cause, uh... oh! (vo) switch to the network awarded by rootmetrics and j.d. power.

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>> announcer: lightning round is sponsored by td ameritrade >> it's time time for the lightning round play the sound and then the lightning round is over are you ready? start with ria in florida. ria. >> caller: hey, jim. hoorah >> hooya.

>> caller: i'm a first caller with disabilities, thank you for taking my call >> my pleasure thank you for coming on the show. >> caller: thank you so much i wanted to hear your thoughts on tilray. >> okay. tilray, i don't like the actual ownership structure. here's the truth about tilray. it doesn't have the capital, the canopy let's go to jerry in utah. jerry. >> caller: hey, big eagle booya to you >> go birds. >> caller: jim, what do you think of me buying some shares of southwest air stock >> if you take a longer term view, i'm going to say, yes. short-term, we know the last couple months, not that good and oil went down but if oil stabilizes, better numbers, kelly's going to deliver and that's my stance we're not done we're just getting started go to anthony in ohio. >> caller: booya, jim. under armour five year strategic review conference, the stock

sell below $19 hold, sell, or buy more. >> that was a bummer i expected more, but i'm going to stick with it i believe that kevin plank is back ahead of pullback, it's retesting and i think it's going to go forward. how about we go to michael in florida. >> caller: yes, happy new year, jim, and thank you for taking my call i would appreciate your opinion on bank of america >> okay. i just saw an upgrade after the close but someone was knocking it earlier, push me, pull you, so bye-bye buy, sell sell sell ladies and gentlemen, that's the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade why are you so good at this? had a coach in high school. 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.

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it was fabulous for the market and for the economy when fed chief jay powell came out last week and told us he'd take a more patient approach to raising interest rates one and wait is what we call it. that's exactly what we were looking for. but here's the little worry in the back of my mind. he changed his mind once, he can change his mind again. if he sees enough positive data and enough bullish action from the stock market, it might convince him that the economy can handle another rate hike and sooner rather than later when i was looking at the strength of the stocks, walmart, amazon, strength that provides good anecdotal evidence that the consumer is still spending, i get a little concerned about the fed's willingness to wait, throwing the positive action at lowe's and home depot, not to mention the rallies in the housing stocks, it's enough to

make you worry that the fed doesn't need to pause after all. maybe they'll keep tightening and we have to be more careful after this run what's happening as long as the fed doesn't want to throw us in a recession and is content to let the economy grow, then these moves make perfect sense. all of these stocks are worth owning in a world where the fed is truly on hold on the other hand, if the fed feels like it's been fooled by the markets, if they're just looking for ammunition to raise interest rates, then the moves in these stocks could give it to them, and that would be very bad news >> sell, sell, sell. >> look, i think the holiday season was generally a good one except for the retailers that are still hostage to the mall but you can't just asterisk those companies. the mall-based chains are a huge slug of retail and they're trading like they barely have a pulse. more important the bond market is giving housing a real reprieve homes all over the country are being repriced downward but now mortgages have had some downward pressure too nobody was anticipating lower mortgage rates when the housing related stocks started really

breaking down a few months ago amazingly, the stocks of the home builders are now back to where they were before jay powell went nuclear on us in early october. letting out his incredibly hawkish game plan. now, then, powell's realized he may not need to destroy the economy in order to save it from inflation. instead, he can take a more dovish approach and engineer a soft landing so all these retail and housing-related stocks are flying before last week, they were trading us to the future held two more rate hikes, that would be downright devastating and you would have to sell them all. you can take away those rate hikes and the outlook becomes a lot more bullish as long as powell doesn't change his mind, i think the home builders and retailers have more room to run. this is built on a precarious foundation these stocks are climbing because investors expect a pause on rate hikes. and the fed could easily use the strength and urges the justification for more tightening perhaps as soon as the february meeting. if he does that, we know we're paying too much for both

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♪ i might be at one market in san francisco but i want to talk vegas. tonight, cnbc's the profit, marcus, spends three days as a high roller to unlock the secrets of vegas and see how it got so good at separating you from your cash "the profit" high stakes premiers tonight at 10:00 p.m. eastern and pacific on cnbc. i want you to keep one thing in mind we've been going higher, why in large part because oil goes higher that's been calling the tune on our oil up this morning, i knew it was going to be a decent day. if you see oil start going down at this incredible run, then you know that short-term, people are going to be taking profits i know it's ridiculous but that is the way it is. i'd like to say there's always a bull market somewhere. i promised i'd try to find it just for you right here on "mad money. i'm jim cramer and i will see you tomorrow this is cool.

...a manufacturer and a retailer with a unique product... is everything in here cork? amanda: yes. lemonis: ...experienced early success and expanded to four locations, but owner amanda dailey's poor communication... amanda: [ chuckles ] we moved. lemonis: i don't remember ever talking about moving. ...and her reckless spending... credit-card fees -- $257,000. ...is putting this once-buoyant business at risk. amanda: if we don't stop this cycle of borrowing and not having enough money to repay things, there's no way we can survive it. lemonis: if i can't teach amanda how to put a cork in her mounting debt... it's almost like everybody has just gotten comfortable with a huge space