>> guy adami >> i just want to say, 5-5 the hard way >> that's the hard way right there. >> you mentioned earlier, sell some canadian assets. >> guys, thank you very much that's it for us "mad money" with jim cramer begins 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 help you save some money. my job isn't just to entertain but to teach and put it into context. call me at 1-800-743-cnbc or tweet me @jimcramer. the selloff is reaching the

emotional stage. nasdaq climbed .79%. yup, it's turning heated now it's angry it's visceral. and it's become one of those situations where people are really despairing. now that's bad news at this moment, but all of it will be good news later. in fact, it's essential to see the negativity play out into lower stock prices see, stocks don't bottom until enough people become so despondent that they forget money can be made in the market and only think that it can be lost you need to get to a point where hope has been crushed and investors want to escape from -- >> the house of pain. >> how do i know things that take in an emotional turn, an emotionally negative visceral turn let me give you examples why don't we start with lanthinum and urbium

those are three rare earth minerals that are mostly found in china we're hearing that the chinese might restrict these minerals because president trump is playing hard ball with huawei. now this is not the end of the world evenly know it sounds like it eric johnson points out that while china accounts for 70% of the production of these minerals, there's plenty of unused supply in russia but brazil and vietnam the u.s. and china are much more intertwined than the u.s. seems to think now everyone is beginning to expect the worst a month ago nobody would have taken this idea seriously. there are tons of chinese companies our government could now target and will and the people's republic could go back and boycott apple, cancel boeing orders, they can say they don't want to wear nike for a while. when you get into the worst case scenario mode it's easier to assume the trade war will get

worse before it gets better. that's been my view of trump and xi when they go tit-for-tat. the damage could be enormous there are so many different places that they can battle each other. second sign that we've gotten too emotional. i want you to look at the stock of johnson & johnson this lost 4% of its balance sheet. it's on trial in oklahoma for the opioid epidemic. the real bad actors already settled which leaves j&j holding the bag. the fentanyl patch isn't much of a factor it had 20% of the medicaid opioid prescriptions purdue pharma, the bad guys that created oxycontin, they settled with oklahoma for 270 million. teva agreed to pay 85 million to settle their trial today j&j lost 15 billion. when you consider the limited scale, i think this pull back has become ridiculously over

blown. you can follow along by joining the action alerts.com. caveat here. to the worn out and despondent j&j has become yet another nightmare. to me, the decline is simply another buying opportunity even as i accept that there could be more down side from fighting investors we sold some higher. seems like it's a good idea to buy it back. sorry to be so ee rational the workday problem. bush, we may have seen him on the show, reported i'm not going to be -- it was a fantastic quarter. the best one we've seen from the cloud kings, and that's really saying something they want some, cisco, huge win, geico, buffet, procter & gamble, zmax, airbus terrific human capital should have gone to s.a.p. or oracle oracle got slammed today the pull back was totally

predictable. it was cruising for a bruising even with great numbers. but today's action sends a chilling message even if you shoot the lights out, do an amazing job, it won't matter your stock is going to be sold now there's nothing wrong with workday. i'm sure you look at the stock and say, cramer's wrong. i followed this company from the essence, from the beginning. i think the stock will have no problem bouncing back eventually however, why would you want to own stocks at all if a company can report an amazing quarter and its shares still gets crunched if workday had pulled back a few bucks, that's one thing. nine bucks, that makes you feel who's saying this? fourth, there's a horror show that is retail we had some weak reporters from canada goose oh, my, did you see that i talked to the ceo. he's taking a long-term view if you own the stock, you're hurting. cap free holdings, that's jimmy chu, michael koor ss, versace

abercrombie & fitch. annihilated. they're not walmart, they're not target, they're not amazon doesn't matter these numbers. everyone wants to jump to the conclusion that the consumer is in terrible shape. that will only be reinforced by a must-watch interviewee have later tonight with manny tirico. he'll tell us about the dramatic earnings forecast cut he is giving us for the maker of tommy hilfiger, calvin klein brings me to the fifth sign that the selloff has gotten wild. when the economy is slowing investors hide in the consumer staple today goldman sachs downgraded general mills, the best performperfor performer in the group downgraded to a sell this company had mojo. general mills has transformed itself into more of a natural organic play yet it plunged more

than 5%. the pain creates the impression that there's no place to hide except for, of course, beyond meat isn't beyond meat playing a guy began trick trick on us? it's just saying right in our faces that we're the -- i'm the only stock that can go higher? crazy. sixth, worst of all, there's the twitter fight. that's where i'm constantly dumped on even though i've been warning you that we get over saturated with stock supplied from the wave of new ipo unicorns and that the prospect of a trade deal is very likely because the hard liners are running the show to listen to these critics you'd think i've spent the last few months screaming one thing and one thing only. >> buy, buy, buy, buy, buy, buy. >> on social media people never let the facts get in the way of a good story insane people are screaming that the stock market is wildly over valued where the heck were they a few weeks ago. i was telling you to sell

something into the strike. you hear the trade war is going to cause a recession that's only a real possibility because a recession can become a self-fulfilled prophecy. when everyone believes we're going into a slowdown, when everyone believes the only stock going up is beyond meat, they stop spending and the slowdown is exactly what we get you hear the averages are going to repeal the entire rally we've seen since trump won the election anti-trump, they send that every 30 seconds i've had that one many times of late and, frankly, i don't see evidence that that's going to happen at the end of the day president trump wants to get re-elected and he views the dow jones industrial average and we have the federal reserve that have raised interest rates and we have it coming at the end of the year, just as we can talk ourselves into a recession, we can talk ourselves into a bear market if we're not careful. however, i don't think we're there yet. to me, it looks like we're having a real rough patch for stocks i see many stocks that i want to

buy more of in weakness but i expect the doom and gloom. i see it i suspect the steamer trunk of doom and gloom on my back which is why we built up a large position for my travel trust we're done selling at this point the pull back has gotten wildly emotional. i don't sell into panic. only interested in buying. but small. bottom line, now the people are really freaking out and getting nasty. i think it's time to start picking up stocks on the weakness that's not cheerleading, that's discipline as they get more disheartened, that's historically the best time to buy. if you have carbon tsh on the sidelines, you can put it to work but slowly and surely and not with a degree of gusto because it's not warranted nick illinois, nick. >> boo-yah, jim. >> boo-yah, nick. >> first time long time. >> all right >> i'm holding xpo logistics i want to buy more has the dust settled in the low 50s or is there more down side

>> i just see -- i don't want you to buy more, frankly it's a transport you look at the fed ex oh, my, ups. i just think that xpo, as much as i like the last mile theory, too hard let's keep it easy let's not make it tough. we're having a real rough patch, people i respect gloom, but i think that gloom is beginning to create some opportunities and that's what happened by the way at 3:00 today. on "mad money" tonight, looking for the real reason for today's decline, i'm going to reveal it. pvh reported the close trade conflict all i can say is holy cow i'm going to talk to the ceo and is there a logical explanation for the up and down action in once great gross stock logitech i've got the exclusive with logitech ceo so stay with cramer don't miss a second of "mad money. follow @jimcramer on twitter

have a question? tweet cramer #madtweets. send jim an email to madmoney @cnbc.com or give us a call at 1-800-743-cnbc miss something head to "mad money".cnbc.com. a little bird told me you

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where the bond market goes stock market follows it's that simple even when the bond market might be wrong, it still controls. right now with the yield benchmark treasury rapidly plunging to a low 2.26% rate you kind of wonder what the bond market signals maybe long term treasury yields are bumming because our government paper is the only game in town or i could say the world. if you're an investor overseas, our treasury is a solid way to get a solid risk free return isn't much competition it will be irresponsible to buy european bonds same with jap a neeanese bonds. i think a good explanation but a lot of experts are having trouble dealing with the fact that there's an enormous amount of demand coming

from overseas. the question, guess what though, plenty of rich people outside the united states and they're desperate for somewhere safe to stash their cash there's one reason the dollar's been so strong it's the europeans buying our treasuries if you're a european that wants to buy your treasuries, you need to spot euros for green backs. that's been true for a while so let's take the foreign money off the table. what are we left with is the explanation for the latest down trend in the treasury yield? this is what it looks like when there's a lack of demand for money. there just isn't much belief in the future so businesses don't want to borrow and that's driving the decline in interest rates. the consumer doesn't seem to want to borrow throw in the decline of oil prices they reached some sort of tipping point with the economy slipping into tariff mode, perhaps because of the state and local deductions for federal taxes and maybe you can understand the whole reason why

the stock market is going down here, but once you get the ball rolling on the slowdown theory, you'll find plenty of facts to buttress your bearish thesis china tariffs will cost every family 800 bucks that seems pretty unlikely seems high the latest tariff hike is 10 to 25%. if you look at the tariffs put in place so far, they are driving inflation. in fact, doing the opposite. decline in steel prices as they moved to protect the chinese dumping. we know 7,150 retail stores have been closed since the beginning of the year. that's wildly deflationary there will be downward pressure on the prices that everything in the store sells. i have no idea where people are coming up with the tariff cost calculations this is the new economy, amazon economy where it's much harder to pass along prices we saw relentless wars i think they will have to eat much of a proportion of these

tariffs, certainly more than experts predicted. i'm going to let manny tirico tells us is seeing a pretty darn steep dropoff in u.s. brick and mortar sales it's chilling. still, the business community believes in free trade most executives are not thrilled about the tariffs. trade war doesn't need to do that much damage, it needs to give business people reason to lose their confidence. that's all it takes to cause a slowdown and the lower rates and inverted yield curves and the slowdown that accompanies them could be happening the result, right now we're slowly but surely letting the bond market talk us into a recession. that means we're going to need the federal reserve to take action and roll back their last rate height. however, i think fed chair jay powell will need to see more information before he makes the cut. so until long-term interest rates start rising again, the stock market could be destined

for a down side. every down particular in the yield is viewed as a sign of impending recession. i think they could throw it up to the bond market we need better earnings reports, particularly from retailers and ultimately lower stock prices. we simply aren't there yet bill in virginia bill >> caller: boo-yah, jim. i'm an investor and i'm a trade analyst by profession and i wanted to call over concerns about multiple technical developments in the market the most i've seen in 30 years of trading and investing i wonder, the question is to you and then if by extension to carly who i think is your technical expert, do you see these phenomena and would you in light of them say build more cash in the s&p 500 a double top blast in the last year near triple top in two years, an increasing number of companies the share prices have fallen below the 200 day moving average. a really beautiful three-month

head and shoulders pattern recently a breakdown below 28.20 at the support level. >> right right. >> caller: last but not least, weirdly slug i shall vix that seems to shout complacency, complacency. >> we're going to be down for six straight weeks that's usually not very complacent we do have some short falls in earnings that we haven't seen in a long time. i think there's a coming recognition that things just got very bad in the u.s. economy within the last 8 to 10 weeks and that's what i've been most concerned about. remember, i felt the combination of equity supply from all these unicorn ipos and a possible slowdown and a crushing consumer confidence by governments would cause what we're having now. we need the fed to take back the last rate hike and start selling its bonds. first we need more data, or at least hal does until then, look, i'm not -- we can be destined for down side.

much more "mad money." worries over tariffs need to rock this market how is pvh going to position itself how logitech is moving to vr could help push shares higher but chinese tariffs push them lower. don't miss the sitdown with the ceo. the u.s. is prepared to distribute 30 billion in aid to farmers. because it's not here and not considered american are they doing great? i'm talking with the ceo and stay with cramer coming up, is cramer too sexy for his shirt no good thing pbh joins him in studio, fresh off earnings, next

been a tough day for the stock of pbh even tougher night as the company reported good quarter but then gave surprisingly down

beat guidance. forecast to the wall street puzzle, what's happening to the normally consistent company's strong businesses. the stock is down badly after hours. we know manny tirico comes on in good times and in bad times to tell it to us straight manny, welcome back to "mad money. you came here three months ago and the numbers were fabulous. this last quarter was pretty good but you've come in with a pretty dramatically pessimistic outlook for china and for here that unfortunately captures the zeitgeist of what's in the stock market what the heck is happening >> in this market in particular, the business right in front of us the second quarter, we've really seen some softness in the business, particularly as a first quarter ended and the second quarter started i think that's reflected in our numbers and our guidance as we've gone forward the positive things from our perspective is we've more or

less been able to hold our guidance and we're looking for the second half of the year to see a turn around. we're much against much better comparisons as we get into july and beyond the second half of the year i think we're positioned to capture that as we go forward. >> look, i think weakness in china, weakness in the united states i keep thinking it is the headlines. it is the trade war because it's not like prices have gone up dramatically and consumers stop in the tracks. >> particularly in our areas, the discussion around tariffs and the trade dispute. it hasn't hit us at this point yet. >> no. >> so that's not the issue that we're seeing going forward what we're really just seeing is a slowdown in growth and a slowdown in retail sales in general as we're looking at it big impact here in the u.s. is lack of international tourism and tourism purchasing. >> strong dollar has been -- >> and the strong dollar continues, you know, to currencies from when i was here three months ago, down 3 to 6%

we're really feeling it there. >> tommy hilfiger down 4 and people looking for much better than that. hilfiger is a great brand. it has not led you astray for a very long time. >> that's true down here 4 in north america overall the tommy brand grew on a constant currency basis 5% -- 9%, excuse me, 4% on a reported basis. so the business internationally continues to do positively, but comps in the united states, look, i can't walk away from it. comps here in the united states in the outlook channel of distribution when we have a big position -- >> you're talking about macy's, jcpenney, these are companies that did not -- look, my travel trust, kohl's, they did not report good numbers. is their inventory kicking in? we go to tjx, is it out there? >> right now i would say inventories are in relatively good shape. >> really?

>> the concern would be things start to back up we really have seen the retailers react to that and we've reacted and really put it in our numbers we took our sales down the second half in connection with a real concern about the business going forward but have been able to hold our profits together so far as we've come here so we're looking for the business as we start to anniversaries, some tougher comps next year. the comps get somewhat easier as we get into the second half of the year that's what we're pointing to at this point right now as we've come out of the first quarter into the second quarter the retail backdrop here in the states is pretty challenging >> and that includes ecom. >> our growth continues digitally. that business continues to grow 20%. our own operated and our partner sites that we do macy's.com, amazon.com, that business

section up 20% i think we're in -- the strength of our brands really plays well there but we are at a moment, brick and mortar retail, with the trade disputes, the rhetoric around trade tensions that really has created, it's really impacting the consumer spending. >> manny, you and i have been around for a long time a 3.6% employment rate means people are buying calvin klein and tommy hilfiger, that's what they buy it's not making sense to me, manny. >> i think we're all struggling with that. when you look at the consumer and you look at wages and you look at general environment, you would feel much stronger i think you have to put some things in perspective. this time last year coming off of the tax cuts, momentum that was there this time last year, clearly our first four or five months of last year our comp sales were up 11% in tommy, up high single digits in calvin so you're seeing now a retrenchment

off of that. there was tremendous momentum that came out of that first quarter. we knew we would be up against that we tried to put that into numbers and we delivered the earnings in our sales estimates for the first quarter. and as we look at the second quarter, we felt we really had to pull back there and still have been able to hold it together but it's much more challenging. there's no walking away from the fact that the consumer is feeling more pressure, here and in china and you can't walk away from the fact that the trade disputes and the issues are not creating a bit of a hangover with the consumer. >> i'll leave it you have stefan larson he is a terrific hire. he's going to be your right-hand man. do you want to give him the company? what's going to happen he's a talented fashion person. >> look, i think our board, myself, succession planning is a key issue for all companies. >> you're not going -- >> i just signed a new five-year

contract i'm here for the next -- as ceo for the next three to four years but i think we've put a plan in place where people can feel confident we have a strategy in place, we have a management succession plan. this is -- this will be my 15th year as president/ceo of pvh and, you know, as you get older people start to ask questions, how much longer are you going to do it. >> no one ever asked me that just kidding >> take that off the table. >> i hope that the next time you and i see each other the cloud lifts because you're doing such a great job. stephon is a great hire. the stuff is fantastic it doesn't seem to matter right now. >> i think in fairness you can't fight the tape >> it is that. >> we're in a -- general sense is the consumer's under pressure retail is going to be under pressure for a while i think we're best positioned to capture the growth and the market share that will come out of that given our balance sheet strength and the way we've managed the business, past is prolog, we have to get through

this. >> fantastic we have to get through it. that's a good motto for me to adopt with the stock market. that's manny chirico "mad money" is back after the break.

in a brutal market like this one it's always good to circle back high quality companies with powerful secular growth stories. what do you do when well run companies allow a moment in the fashion show that's a question we need to ask about logitech computer peripherals like keyboards, mice, headphones, mobile speakers, remote controls, expensive high end gaming equipment the best people say for years. it got hit along with everything else in the fourth quarter then when it seemed like logitech had gotten its mojo back i love the quarter but the stock got slammed. even though it delivered top and bottom line, investors took it and left the 2020 fiscal year unchanged. i have to ask, has logitech come down to the point where it's too cheap to ignore.

let's look with the president and ceo to learn how it's doing. welcome back to "mad money." >> thank you very much, jim. >> i'll tell you what i do i like to look at quarters in a vacuum. >> okay. >> i don't like to look at what the stock is doing because it influences my thinking >> yeah. >> i read the quarter. i said, wow. this was really a dynamite quarter. >> thank you. >> i'm beginning to think that there's some sort of funk developing here. i parsed it line by line you're doing new things. video conferencing virtual reality. you're well ahead of everybody else are we just in some sort of because of the trade war, people feeling down about things? that's the only explanation i can come up with. >> you know, i think at the end of the day we've had such a nice long strong run. >> you're up 60% for the year. >> yeah, we're doing fine. it's been a long run i'm doing fine things are driving our business. gaming you're not talking about a lot. that's not going to slow down.

it will keep going it will have ups and downs, it will be long term growth here. video everywhere everywhere where has a telephone will have a video. we're 44%. >> that's zoom i'm paying a huge amount for zoom and i'm paying very little for logitech i don't need you to trash zoom, it's a good company. i know them from when they were at cisco you're offering a very similar product. >> not at all. what happens, if you get zoom in the room or you get teams from microsoft in the room, you need the equipment to enable them that's what we do. we partner with zoom, we partner with microsoft we're actually complementary to them. >> it's hard to understand then you're also -- look, you still make the best purples. maybe people have cut back on things i know i regard as necessities because i love your stuff but maybe this is now like google saying, wait a second i'm feeling down about something. when you had 3.6% unemployment, this is what you buy. >> absolutely.

we're actually kind of sturdy even if they're a recession or something. if you're going into a recession, video saves you money. if you go into the cfo and you say, hey, you can cut your travel 40% and you'll pay off the video enablement of that room in one saved trip so it's -- we're -- i'd say all of our businesses are relatively recession proof or recession resistant. they have massive secular trends behind them. even our pc business, jim. you know what's driving that now? instagram, podcasting, youtube, streaming. kids are getting -- people are getting on there and they're using a keyboard, microphone, all three of them are driven by the secular growth. >> how about i bet you there's chinese parts here he has to go to vietnam, cambodia, got to change the supply chain or he has to raise the price on everything. >> you would be right. if we go to list four, list three we're already there. >> those are the different kinds of tariffs. >> the different tariffs

we essentially for -- as a business model we've moved things in and out of our own factory on a regular basis every quarter we move something. moving them in and out of china if we have to, we are. >> are other places as good as china. >> i a the la lot of people dont move because they're fine manufacturers. >> a lot of people we're moving to are chinese manufacturers moving into other countries. moving to malaysia, philippines, vietnam. >> do you have percentages or does it fluctuate? >> i couldn't give you a percentage whatever the category is, we look at should we move out as a backup plan -- as an additional plan we will raise price if we have to. >> you will? >> if we have to >> are we talking about things -- people are talking about $800 per family because of tariffs. >> that sounds high to me. >> right >> it sounds high to me. >> it would be like a little bit less than a big sale, you know what i mean? >> it depends on the category. for us if we have to raise 25%,

that would be pretty tough we'll offset with cost savings by moving things in and out. whatever the difference is, if we can raise price, we will. >> people want to say there's going to be margin pressure. >> yeah. yeah >> now i'm in the elevator today i look up it says logitech introducing new virtual reality pen. to me this thing sounds incredibly cool. i know it's not on the table yet. this is the kind of cutting edge thing you have that nobody else has. >> it is so cool picture something like this, little bit thicker, and then for the first time you can have the precision, you can write on the table or i can sit here and i can draw myself into a building, i can draw the building, i can draw a window, draw a door, open the door, move out, move over here it's a way to create whether you're an engineer a vector file, we worked with them on a new helicopter using this pilot edition. >> this is fantastic i've been involved in many situations within the last

couple of years where i had to draw something that was 3d and there wasn't any availability. i'm doing this like the 11th grade. hold it a second is this realistic? >> yeah. >> this is the answer for architects, for designers, for people who want to take something and go sell it on x here, on shop if shopify. >> or people who are car dealers. this will be something before it becomes significant. we want to be the peripheral maker of choice and the one who helps shape those. >> look, we always talk about gaming i wanted to talk about the other exciting things you do. >> sure, sure, sure. >> we don't give them enough credit the video conferencing, these kinds of things and the high end equipment that may have to cost more because of the tariffs. i don't see anything at the table that you can't live without. >> no, these are must-haves. >> for my kids, maybe not so much for me.

maybe it's caught up in the trade wars you just heard, but the quarter was fabulous, the year was great and the trajectory is like this. "mad money" is back after the break. >> thanks. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from managing inventory... to detecting and preventing threats... to scaling up your production. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence.

squlietening round

squlietening. lightning round is sponsored by t.d. ameritrade it is time it is time for the lightning round. and then the lightning round is over are you ready, skee-daddy. let's talk with john in jersey john >> caller: jim boo-yah. >> boo-yah. >> caller: my stock is anadarka petroleum. >> you're done we have sold that. it is time to move on, my friend i need to go to james in virginia james! >> caller: hello, big jim. this is james in virginia. normally i live in florida >> okay. >> caller: i've got a question for you. my friends and i, we tune in every night and we watch you. >> thank you. >> caller: i'm new to investing. i watched the interview you had in march with the ceo of cvs. >> yeah, larry merlo.

>> caller: i bought cvs. i know it's sitting there at 53, 54. >> right. >> caller: i'm thinking it's going to go. >> we have a big analyst meeting coming up. he has to explain how he can cut down that debt, pay down debt. if he does that, people are going to buy it, but i do not have conviction ahead of that analyst meeting. we have to see what he says because that would eliminate the dog house if he does right now, people are very worried. and we have a big position here for travel trust can i go to jim in florida, please jim? >> caller: yes, jim. my question is lowe's >> oh, man, i thought that marvin ellison, i thought he explained himself very well. a lot of different things. a lot of new people. he's working really hard to get the place in shape and no one has a conviction to stay with him except for me. i think if you buy that stock at 90 you're going to make a good buy. marvin, please come on the show because you know how to tell the story. gordon in texas.

gordon. >> caller: boo-yah, jim. >> boo-yah. >> caller: cymabay thetherapeut. >> don't know it ceo doctor i always like that let's go to sam in colorado. sam! >> caller: hey, jim. about u.s.a. technologies. the stock was at $15 last year and was down 5 into the investigation and a hegman bought over 4 million shares sell, hold or buy? >> i like payments processing. i know that one did have some problems, but payment processing is a rising tide that's -- why don't we get that company on we've had -- we had global payments we've had them all on. we need to know more about why that stock got hammered. let's go to joseph in new york joseph >> caller: hi, jim awesome show. >> thank you >> caller: i -- this stock has

been considered a speculative buyout by celgene and has a promising pipeline and has traded between $87 and $232 a share. in december it dipped below $90 a share. >> all right >> caller: what's your take on blue bird bio? >> it would not shock me if somebody did buy them. this time celgene is merging with bristol i like that. i know people are very skeptical. i think bristol's the one to buy. let's go to dave in illinois hey, dave, how you been? >> caller: dr. cramer. well, apart from protracted tariff uncertainty, global economic slowdown and impending u.s. two-year ten year yield conversion, i'm doing just fine. how about you? >> you probably left out the pbh

forecast, dave stick around and watch the show. you'll get that, too add to the woes. what's going on? >> caller: you've got it, my friend jim, my stock today is in the medical device space i like intuitive surgical, isrg. >> i know, man i'm a da vinci fan i've seen it in action i think it's doing well. this stock has come under severe selling pressure dave, i bet if you buy it and put it away for years, you're going to have a good one i am shocked at the decline. every time i look at it i don't see a good reason for it i think it's the zeitgeist of the moment let's go to gordon in florida. gordon >> caller: how you doing >> i don't know, gordon. today was a hard day a lot of good stocks went down kind of bugged me. what's up? >> caller: wanted to check on mu, see what you thought about it >> which one >> caller: micron.

>> you know what, look -- here's a stock that gives up a few points every single day. this is where it bottomed last time i think micron is three down and ten up but the three happens first. i need to go can i go to shawn in new jersey? shawn? >> caller: boo-yah, jim. >> boo-yah. >> caller: with the recent selloff, starboard steaks, what do we think of papa john's >> i love what they're doing i think they're doing a great job. the turn is real i met shaq when he was on the floor. he's involved in papa john's that's a good partner to have. and that, ladies and gentlemen, is the conclusion of the lightning round. >> the lightning round is sponsored by t.d. ameritrade looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies

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you knee what's funny. people are worried about a trade war versus recession you know what managed to buck the trend and actually rally the farm equipment stocks. even though china's aggressively targeting american agriculture with tariffs of their own, we've had some horrible weather across vast swaths of the country, some

of the ag stocks are giving you big games. look at agco the stock is up nearly 20% to date i think that's in part because the u.s. government is more than willing to bail out farmers who get hurt in the trade war but it's also because and i think far more important agco has a ton of international support can the stock keep climbing? let's take a look at the chairman and president and ceo of agco. welcome back to "mad money." >> thank you very much life is good >> well, i like that, martin, because i've got to tell you, i was trying to figure out how you did a blowout quarter. north america down .6%, south america down 2.6 percent peshs, asia pacific down 9.6%, europe is up and you put it altogether and you have a fantastic quarter. how are you able to make so much money o with those sales >> we focus on improvement initiatives already starting last year because we wanted to

be more independent from everything that is going on in a more volatile political environment, and i think we are doing fine our focus this year is on margin improvements and the same will be for next year so we want to be at around 8% this year and 10% next year and i think this is a great story for our shareholders. >> this is very different. you know deere obviously deere has come -- >> i never heard that name so -- >> yeah, i figured you're familiar with it they've become very episodic frankly, you never know when they're going to hit it out of the park or not. i think through innovation and through a consistent margin improvement you've changed things i regard you now as a good growing machinery company not an ag company that's related to weather or farm subsidies. is that a better way to look at agco >> yeah, that sounds pretty good, and then we are also -- let's say i also have to say john deere is a very fine company. i don't want to be negative on

them so -- but we focus very much on let's say our business processes and we are also very, very global so that helps, of course, so when you spread basically your business all over the world you don't depend so much on one single market. >> martin, one of the things that surprised me, if you asked me three countries that i didn't expect to be doing so well, france, you a nighted kingdom because of brexit and spain, those were hugely good countries for you. how do you explain that? >> well, it's technology we have basically the finest products in the industry and we always had the idea to differentiate but it's very important for us to create a value for our customer so when you buy a fend, volt,

massey ferguson tractor or combine, we make sure you have the lowest cost of operating that product during all life cycle of the product so our customers understand that and they -- as soon as they own a product from us they see that this ads value -- profits to their bottom line. >> okay. so give me a little sense of what's going on with world trade here in the united states versus china because china has been really placing orders away i know from some of the seed companies, they've been going to brazil, but the expectation is they'll come right back. i'm wondering whether things aren't a little bit more sticky once you leave the food chain from the united states and go to brazil i don't think you just turn on the jets and go back to the united states that easily, do you? >> no. the chinese, of course, are people who like long-term relationships. normally they are pretty loyal when you have a contract you can do business with the same guys for a long period of time.

so that will be a little bit of work to gain them back, but the quality of our products, beans and corn, chicken, beef, pig is excellent. so, therefore, i think we have a certain advantage here and the american farmers are doing a great job. so what we say at agco, no farmers no nation, i really mean it so i think people in washington also understand how important the farmers are for the country and, therefore, i'm optimistic that finally a deal is done. >> you are optimistic. why? i mean, everyone has turned so pessimistic here that's why our market's been down for six straight weeks. people have given up >> you need to -- you need to think a little anti-cyclical if everybody is only pessimistic and blames other people for problems in their own company, i think that doesn't work. you need to accept the world, so to say you can try to influence but you

know that you can't do that as a company. and then you need to look into your company and try to run it properly and make it more efficient every day. >> well, thank you i'm getting tired of hearing the companies are at the whims of politicians in other countries and the capitals of those countries. it's nice to hear that companies can help themselves which is why you really did have a great quarter, martin. thank you for coming on "mad money." >> politicians are not different from ceos. there's some good, some not so good. >> i like that thought let's keep that. >> thank you very much. >> that's martin, chairman and president and ceo of agco. just because deere didn't do well, it doesn't mean agco had to do poorly it's doing better than deere stick with cramer.

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