tv Mad Money CNBC March 20, 2020 6:00pm-7:00pm EDT
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efforts and what you need to see is a massive stimulus fiscal package. >> we might get it senator toomey telling us it might come as early as monday. thank you. thanks for watching this week. we'll see you monday and hope you have a great, my mission is simple, to make you money i'm here to level the playing field for all invest ares. there's always homework in summer, and i promise to help you find it. "mad money" starts now hey, i'm cramer! welcome to "mad money. welcome to cramer america. i'm trying to save you money, not just educate but entertain and too much ya. call me or tweet me@jimcramer. we just went through the first week since 2008, dow plunging another 913 points, nasdaq
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nose-diving 3.97%. at one point it looked like we would go to war and we were actually lucky, lucky it was only down that much because if things don't break right, we're going to be experiencing a lot of weeks that are worse than the depths of the great recession. why? we're fighting a two-front war in this country. we need to beat the coronavirus, a scourge that's unrelentless easy to catch and requires hospitalization, far more than we can actually provide. at the same time we need to preserve the economy, an economy in many ways is no longer open for business there are 100 million workers who could potentially lose their jobs if we don't shut down covid-19 soon. people's life savings are going to be pulverized as companies suspend dividends and people sell like a mouse in a fear of an unrelenting panic because they need cash, need cash right now. it's like a slow grind financial hell apocalypse.
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the plummeting of oil isn't helping either we need to get crude back over $30 or the last of the patch will be immense. that's a manmade crisis the president can stop with one phone call to the crown prince of saudi arabia. it was the crown oil that turned the stock market from up to down unfortunately for now we seem to be losing the war on both fronts, the virus and the economy. well, i'm confident we will triumph over covid-19, as confident as everyone else, it might not happen fast enough for tens of millions of laid-off workers burning through the savings. god help anyone living paycheck to paycheck. next week the health care front and financial front, they're going to collide when we come in monday morning, we're going to lose the true size of the senate's stimulus bill it needs to be as big as possible i'm hearing $200 trillion, larger than most expect but i think $4 trillion makes more sense. people say we need to fight this with a bazooka are you kidding me we need nermal nuclear weapons you know why we're also going to start
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hearing about an explosion of new infections, hospitalizations and deaths we know this virus spreads exponentially but we have trouble processing what that means. the figures will seem stunning and terrifying in equal measures we used to take the financial fears off the sagging shoulders of americans it's worth the effort and money, as long as we with can tide over regular people while we wait for treatment and vaccine, the stock market will stop cratering, it will help people's savings our only hope monday if the president does give the saudis the riot act over the weekend could pros up the price of crude. saudi arabia and egypt are in the dumbest price war in history. they're killing each other saudis want us hooked on their cheap oil but that's a patriot they can destroy our oil companies but they can't destroy our oil. still, i can't believe exxon, exxon now yields 10% it seems as unsun tasable as it
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is sack ra say and the second most touted stock this week after amazon as might be a winner is nike. this thing is pummeling if 105 down to the 60s. analysts reported better overall expected tuesday but that doesn't such me given the collapse worldwide but they got back online and ordering shoes online nike is the first big cap company in the era of covid-19 destruction, at least the first one the analysts actually like so let's see what happens. bullishness here is a little bit out of whack wednesday morning we hear from the very fine company you're familiar with if you watch the show, paychex. the stock was down 10% today alone. it has fallen from 90 to under 52 in almost a straight line why? it's payroll processing for small businesses, like the ones i have we have to expect more small business closures than at any other tomb since the great depression lack of clients. i think it will just take time
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for this to unfold but the market isn't waiting around to find out you know who loves going through the pandemic micron they are totally despised. too bipolar? we will find out when we find out how bad the supply and demand and balance is. now it's fallen to $36 micron can bounce if we get positive economic data but that seems incredibly unlikely. thursday morning we hear from signet jewelers. we had them on not long ago. they were a awaiting a comeback before the coronavirus destroyed all things retail. if they could tell us things are holding up, people are still getting married, anything positive, it may help. currently has a yield of 19% welcome to the porn shop era enter close lemon reports. there are so many analysts who think it's time to step up to the plate and buy lulu with the
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stock's 100-point decline. 100% would be something. they argue lulu is a coiled spring my view? want to bet on lulu, please wait until thursday to buy it i expect you to get a better edge point because on thursday morning, we get jobless claims and they will be more frightening than anything stephen king's ever written. remember, i say that as someone who thinks king is our generation's charles dickens i'm reading "the institute." i can't put it down. but don't read this until you want a dark comparison to the current pandemic spoiler alert, we're doing better and now the oil industry, remember how growing it was from 8 million barrels to almost double now i want you to measure the scale. maybe if the retraction is deep enough saudis will declare victory and the president's love for low gasoline prices versus america's independence now it's inverse
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the fewer the rigs, the better i used to joke about this, buck up you bunch of jokers, at least stocks stop at zero. it's funny the first time. that's about it. bottom line, we know this market is the most oversold it's ever been we know if there's any good news in clinical trials success, more testing in cases in italy or spain, $3 trillion stimulus or oil back up to $26, the average is a w.a.r but somehow all of these averages have seem to come long shots. what can i say i call it as i see it. bart in ohio >> caller: how are you doing, jim? last october you compared six flags and cedar fairs and you chose cedar fairs. >> right >> caller: today president of cedar fairs announced they won't open until mid-may or later. with all of this going on, good investment or stay away from both >> we're in a different time i think that these are companies
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that are uniquely what you can't really touch, and once-in-a-million thing. it's one thing to be run poorly like six flags was it's another thing to be run really well like cedar fair and still get pulverized i'm not going to recommend it. i don't know when this thing is going to pass. that's what it is. don in florida >> caller: hey, cramer, this is don in orlando 78 years old i got 6,500 shares of at&t, and i depend upon that to live on. what do you think's going to happen with the dividend, and what do you think of the stock >> i actually like the stock we it an actual plus.com club call the other day and i talked with our team maybe it was time to look at at&t, because now -- well, it was at $30. now it's at $28. but i happen to think it's real. i think they have good cash flow i don't see the cash flow hurting so i'm going to say
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you're okay. let's go to ross in texas. ross >> caller: hey, jim, thanks for taking me call. >> of course, ross >> caller: my question is related to adventist i bought them looking for stable income and i am obviously considering retiring they have been dented like most reits in the market. i know you have been a longtime admirer and they understand to maintain their dividend. what is your opinion of the senior housing industry in general -- >> i think the industry is not a good one there was overbuilding i was heartened when i saw that deb declared that dividend i think some people thought it was not sustainable. i believe in deb ka varrio but there was an industry she thought was turning and it hasn't that's a tough judgment but that's the case. let's go to brad in massachusetts. brad >> caller: hey, jim, boo-yah >> boo-yah >> caller: want to say thank you for all of your help over the
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years. although i'm only 28, you saved my marriage a few times. things are getting rocky again and i'm curious about home depot overall given if the time is right. >> i did have fear home depot would keep going down and it continues to go down it yields 4% that's a little extreme. this thing is trading very much like it traded in 2007/'08 it's a better company and i think it's going to come out on top. it's down 30%. get a yield 4 1/2%, 5% i think you will love it we're fighting a two-front war in this country, people. what can i say, i have to tell you, i still think you hang in if we didn't like it, we didn't like it, we didn't like it, we still don't like it, but i don't think it's time to cut and run we can get a better time to sell coming up on "mad money" -- after another tumultuous week, i'm on a hunt for buying options. let's see if the high can continue, stock had a huge week.
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and while dr. fauci worries about your health, i worry about your portfolio i will tell you what can help with the coronavirus as we brace for the worst of the outbreak, i'm talking to the ceo of amn health care about how it's hoping to help. stay with cramer don't miss a second of "mad money. follow@jimcramer on twitter. have a question, tweet kramer, #madtweets send jim an email to "mad money"@cnbc.com or give us a call at 8074cn0-3-bc it all starts with an invitation. to feel connected. the invitation to lexus sales event now through march 31st.
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essentials with millions of people networking from home. and now cloud strike had a blowout quarter and even better management gave us guyton for a bullish quarter and whole year honestly, they have a lot more room to run. they're off more than 25% from its prepandemic highs. don't take it from me. let's check in with george kerr, the core founder and ceo of crowdstrike to get a better sense. welcome back to "mad money." >> hi, jim we have to do a fist bump since we must do this remotely. >> i'll take it. good to see a smiling face and good to see numbers that were up 99%! your surskripgs revenue. i'm so sick of short falls how did you blow it away like this >> jim, i think it goes back to security is a basic need in the hierarchy of what corporations need, it's like shelter. when you have a cloud-based platform like we built, we're
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solving big problems, stopping breaches and helping consolidate spend and cost we have a great team we had perfect execution and we're delighted with the results. >> it seems also you had the good fortune of being up against semantic, which kind of rolled over and gave you the field. >> well, as i said in my remarks on the earnings call, i think it's the best competitive environment i have ever seen obviously with the acquisition, it's been a great opportunity for us it continued to take share we see a lot of their install base coming to us looking for a cloud-base platform, next gen powered by ai and ability to stop breaches without ever seeing those sort of threats before a big element is it works in the cloud. so for all of these remote workers, it's a perfect solution whether you're a remote worker or whether you have cloud work loads. we're a game-changer in that area. >> we also look for companies we trust when they pick up or use -- or name a new developer and doug murray is a friend of
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the show, he's one of the smartest guys out there. he went with you guys over another outfit. >> he did. i have the utmost respect for doug and splunk. the same between splunk and crowdstrike, we have great integrations we create a lot of data and they're able to consume it when it came to protecting their critical structure, they chose crowdstrike. easy and it just works it makes it easy to protect things on prem or off prem. >> you have a lot of huge customers but some medium and small. what do you do right now when one of those who just took you down and loves crowdstrike says, you know what, they just closed some of my business. i'm going to have a hard time writing this month's check what do you say? >> well, i think what we've been able to do as part of our surgery leaf program i think has been very well received. we're allowing customers to surge and protect the remote
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workers. we're not charging anything extra for it we will deal with that after we get through this crisis. i think with customers that might be an affected industry, obviously we want to work with them we view ourselves as a partner, not just a vendor. we will do anything we can to make it work with the companies we're actually protecting. we will go above the call of duty. >> i see a lot of people rallying to the cause of working at home and are excited about it somehow they must think when you plug in a different device from home the bad guys won't know about it they're not in your house. it's untrue, isn't it? >> it's actually untrue. if you think about it, the bad guys are not going to abide by shelter in place now is the time when there's chaos and there's fear and people are worried about their family, they're not in the office, now is the time when they will strike so as these remote users get up and running with their own stacks, whether it's zoom or slack, they're going to need protection like crowdstrike and we're there for them that's been a big win for us with our corporate customers and
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even smaller customers, to be able to protect that remote workforce. >> you have a successful iteration falcon apparently just launched a home version of it. what does that do for people >> the home version is really allows our corporations to be able to surge and protect their home users and essentially if you think about some corporations, they have the wherewithal to be able to buy 25,000 new laptops and ship them to their employees and we can protect those but many organizations, you have to use the employee's home computer so it allows us to protect that home computer, maintain a level of compliance and visibility for these enterprise and midsize customers, and make sure they can always be protected whether they're on or off the network. >> we are seeing bad guys prey on people's covid-19 fears very smart way to go about it. are you trying to stop some of that >> oddly enough -- not oddly but sad that the bad guys are doing this we've seen a real uptick in phishing campaigns using
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covid-19 and malware associated with that in these emails. so now, as i said earlier, when there's chaos and fear in the street, that's when the adversary tends to strike hardest. >> well, i guess is china back already doing some of things it did before this whole pandemic started? >> well, whether it's any of the nation's state adversaries, you know, they're not sheltering in place. the internet goes wherever and they're very busy. they haven't stopped they won't stop. and that's why organizations need to be vigilant, whether you're a public company, whether you're a small business or whether you're a state or local or federal government, you need this level of protection that crowdstrike is offering. >> there's a terrific chart in your -- let's see which one. it's a category cloud defining platform cloud sales force 1999, service now 2004, hr cloud work day 2005 those are three of our absolute favorite stocks, as you know
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those are cloud king stocks. security cloud, cloud strike 2011 people should know, you didn't just start yesterday and you're cash flow positive. >> we're really excited about the cash flow generation i think that's indicative of the durable economic business model we have and economics, first and foremost secondly, getting back to your point, we think we are a cloud pillar and will become even a bigger cloud pillar for the security cloud when i started the company i looked at sales force and work day and said there needs to be a security cloud no one was doing this. we started from the ground up, built in the cloud-native architecture can you see our results, one of the fastest growing companies at scale of all time. and we view those as our peers. >> i'm just thrilled for you success. it's great to hear somebody doing well and it's also great to have a stock that went up this week. thank you very much for being here i know you like the show means a lot to me, george. great to see you on it
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memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. when i look at these competing bailout proposals in congress, trillion dollar package from the republicans, maybe 2 trillion, $750 billion from the democrats, maybe more than that, i keep coming back to the same thought -- it's not enough both parties are thinking too small, way too small let me make this perfectly crystal clear. we're not trying to fend off a recession here we're trying to fend off a depression yes, it is that bad. let's stop using the "r" word and start thinking the "d" word. there's a bill kicking around that can produce $2 trillion in aid for people in business, i say double it. this is a national emergency i guarantee you no politician will be criticized for filing to do or spend too much but i'll tell you they will be punished for trying to do little, especially in the
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history books. if we want the economy to bounce back rapidly when this is over, when we need to go above and beyond, this is the time how much money should we give to hard-working wem who have lost their jobs because a government mandated shutdown? as much as it takes, that's the answer please, let's do it fast before the bills come due april 1 we're a service economy. we have to keep these services alive because once we beat this pandemic, we need a base to build on so people can't just get $1,000. it can't be a one-off payment. the longer this goes on, the more infusions we are going to need i say we do whatever it takes to protect these people otherwise they have to liquidate savings and bye-bye retirement funds. that's assuming they have savings. millions of americans live paycheck to paycheck this is the most essential thing. if we don't get that cash into people's hands, i'm terrified tens of millions of americans simply won't be able to bounce back from this i think it's the right thing to do these are basically government-mandated layoffs. government has an obligation to
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mitigate them. when we see next week's horrifying jobless numbers, this will be pull varizing. secondly, if we don't bail out small businesses -- i say bail out, yes, "b" -- there will only be three retailers left when this is over, costco, walmart and amazon that's unacceptable. third, there are industries that need to be saved, like it or not, in some form or another because they're too important to lose boeing is our largest exporter and 17,000 suppliers, 2 million jobs on the line here. you have to provide boeing with liquidity. and if they need to be bailed out -- and they're not asking that -- saving the enlt prize is more important than credit of the shareholders and the workers, we have to protect the workers. i will use the word again, the workers, so people have money left when this is done historically we bail out industries and protect shareholders and the bosses. please not this time
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give these companies liquidity they need to stay alive. that's it. bosses are rich enough to take care of themselves they have to work for it it's called sacrifice. next up, this market is convinced of a collapse -- and, boy, is it ever collapsing, could trigger collapse the banking system i don't think that's the case but there are a ton of jobs on the line and sub $20 oil will wipeout or once-growing energy sector and ruin our energy independence gambit. the president has to call the saudis and tell them to turn off the spigette we have all of the cards you're playing, mr. president fifth, they should give permission to buy the bonds from companies at decent credit to stay alive i don't care if it costs $2 trillion, maybe more sure, there's a huge moral hazard problem, worrying about moral hazard though is how we ended up in the great recession. let's not make the same mistake twice in a lifetime. as much as i love public and private partnerships, they're not enough to solve this crisis. it's too big now the only organization that can beat it at this point is our
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government and specifically we need the military. they have got the basis, they've got the room, they've got the engineers, they've got the talent, they know how to build field hospitals and containment facilities, they can run the testing centers and they correctly have our admiration and respect. if we're going to come through this pandemic with a functional timing, we need big, bold expensive action from the government it's the only thing that's going to cut it. everything else, it's just plain wrong! much more "mad money" ahead, including my sit-down with amn healthcare how is the health care company doing with the demand of the coronavirus? i have the ceo and self-isolation becomes more and more common, wanting to look for a connection in the uncertain world? i'm talking to a private player next door on how it's helping. and all of your calls in the "rapid fire" edition of the lightning round.
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and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program call or visit as we embrace for the worst of the covid-19 pandemic, the big fear is it will overwhelm our health care system like it is in italy and spain. we may not have enough facilities just as important, we don't have enough doctors and nurses,
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staff. which brings me to amn healthcare, manage service providers that helps hospitals manage staffing. it's getting back to the gains that have been brutal seller i have seen in the last couple of days but right now i'm less concerned about the business side of things and more concerned how they can help our health care system hold the line during this period of extreme strain maybe the most extreme our country has seen let's check in with susan to get some insight into what's happening. welcome back to "mad money." >> thanks, jim i appreciate being here tonight. >> let's start with news you just put up a site for health care facility professionals who are caring for patients during this crisis. tell us about it. >> yes, jim, as you can imagine, it's all hands on deck for the health care industry, and that is certainly true for amn as well we're working 24/7 and bringing an additional resources and redeploying resources to make sure we can really be doing
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everything possible to help in this crisis. and so first i would like to thank our team members and leaders and our health care professionals for all that they're doing. these are unprecedented dynamic times. things are changing literally hourly daily i can tell you everybody is leaning in hard. when we think about our health care professionals in particular, you know, they are at the front lines and certainly we are seeing more and more health care professionals pour in just in the last week, we've had thousands and thousands of health care professionals reach out to us asking how they can help and on the other end we have thousands and thousands of jobs from our clients and new clients that want us to come in and help our job is to get those resources quickly matched and deployed again, i'm so proud of the teams but we always want to hear from more clinicians so that's why we put up the crisis hotline and
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website. in fact, if there is a health care professional out there and they don't know how to help, maybe on a local level, they can reach out to us and we can quickly get them deployed. you might have the site up there now, but if not, i'm going to read the site for you. it's coronavirus.amn healthcare.com or you can call in to our crisis line, 800-887-1456 this is also for health care facilities that might need our help. >> so, susan, i'm watching -- i'm sure like you, i have just whenever dr. fauci talks, stop and listen i was watching him being interviewed by mark zuckerberg i follow him wherever the heck he is, on facebook he said there are areas that are basically overwhelming the system i mean, do you have -- what is going on, say, in the state of washington right now >> well, we certainly have hotspots in this site.
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and we need people to where they're needed most, certainly washington, california, new york or at the top of that list, we're seeing increases every hour from almost every state within the country nurses are at the top of that li list, pretty much all nursing specialties are in high demand but also respiratory, lab technicians and in the physician front primary care advance practice radiology we also have some clinicians that havebeen displaced. as you can imagine, there's not a high demand right now for dentistry with elective surgeries being called off we have surgeons and anesthesiologists who are available and, again, they're leaning in and offering up their skills because clinicians can do other things than their normal day jobs so we need to find ways to make sure we're maximizing the health care professional workforce that we have across the country i have also, by the way, been very, very impressed with
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several of the state's that have stepped forward to change and flex the typical licensing restrictions and we're seeing new york, for example, just announcing that they're going to be accepting health care professionals with licenses from other states every day we're talking with state and federal officials to see how we can help and bring our expertise, our technology to the table, but also around this issue of licensing, we have a unique perspective and knowledge about how we can most expeditiously move our workforce around the country and i'm starting to see it happen so it's very encouraging. >> i was on the phone to someone who has built a couple hospitals. they told me, listen, the nurses don't have the equipment they don't have the clothes. doctors don't have the clothes it's just a colossal misfortune. what do you tell your people, how do you protect the people who are working with you
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>> tds veit's very, very import. i know everyone is worried about themselves and their families but we need to be very concerned for our health care professionals. as you can imagine, we go through screening prior to any clinician going to an assignment and then health care facility does their own screening when it comes to equipment, we're working with the health care facilities to ensure that we are informing our clinicians about what they have, what they might need to bring with them. but also wherever we can be helpful in the supply chain, we're trying to make those connections. we're not in that business necessarily but we all have to try to help in whateverarea we can. >> i have tried to be as constructive as possible about this because i think that all of the professionals are working very, very hard. but it is -- there is a bit of disconnect for me. maybe you can fill me in on how it happens when i watch washington, they always seem to have -- everybody's got everything they need and then i -- i get called in by people who say do you have any extra masks? health care professionals do not have masks i'm confused about the
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disconnect between some people think everything is smooth and your people i bet saying i'm not giving the tools i need? >> again, we need to focus on what we can influence. we can influence in washington at a state level are things like license chur and mobility of the workforce. that's where we had the greatest voice and quite honestly on a daily basis, i think we are making progress. i'm told there might be an emergency rule coming out on a federal level that would create more of a national licensure capability right now it's happening on a state-by-state level but there are other things that we can do in our doing to bring some of our tools to bear and to help the country and our clients. we have technology tools that we have offered up for free that will enable clinicians to upload their credentials so if they want to go to a new facility, they can more quickly accomplish that for example, i mentioned silver sheet i think on one of our prior discussions, which is a
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cloud-based physician credentialing platform right now physicians can go there and for free upload their credentials, which will make it much faster and easier for them to go to any new facility across the country. since we last talked, we also made a couple other acquisitions in the tech space. one is b4 health, which includes a state hospital association to quick requestly match where the needs of staff are and where qualified staff exists we're working with various state associations right now to try to equip them with that technology so they can more easily move around a very precious workforce that we have and then to finally stratis video was an acquisition we made earlier this year. >> video >> video interpretation but we quickly pivoted and added capabilities to that our clients could use that platform for covid-19 triage purposes, so
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their own clinicians wouldn't necessarily have to be in the same room with their patients and it can be used in a variety of other ways. i can go on and on with the things that we're doing but hopefully you get the idea that everybody -- our whole industry is leaning in very hard on this. >> i'm just gad you'lad you're i and you're a seasoned hand and we need you. i just hope when we go to war, you're at the front lines. susan salka, amn healthcare, friend of the show for a long time keep doing what you're doing appreciate it. when you look at the critical issues facing our world, what do you see? we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy.
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i don't think so... what do you think, peanut? nope! honey, do you think we overdid it? overdid what? see? we don't think so, son. technically, grandparents can't overdo it. it's impossible. well planned, well invested, well protected. voya. be confident to and through retirement. it's time! it's time for "the lightning round" and then the lightning round is over are you ready? the "lightning round"! jan in north carolina. >> caller: hey, big man, been watching you 15 years. need your advice on how safe
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dividend is on nly. >> one of the reasons why i do not like nly is i don't know what they own to tell you if the dividend is safe i have to tell you, i don't know if you have to see construction in the reit dividends. i don't want to delve what is or isn't or what leverage they have i have been against it for ages. let's go to bill in virginia bill >> caller: jim, bill army strong boo-yah from inside the beltway! thank you for leading this crazy stock market battle, general cramer i know restaurants and bars are closed, which has to curtail some of the demand for beer, wine and liquor. still, some folks are stocking up on foods to get them through this trying time what are your thoughts on constellation? >> i keep thinking when will it bottom but i know constellation is very heavy -- it's a great seller at bars it's such a huge percentage of your business, it's very hard to
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find a bottom. if you buy it at 3% yield, it's at 2 1/2%, maybe that's a good level to start buying. this is a different kind of time let's go to mike in michigan mike >> caller: hi, jim, how are you? >> i'm okay. people losing too much money, mike and people sick. i'm looking for silver linings what's up? >> caller: i'm listening to your show for years and i would like your thoughts on rockwell automation like any company, they're affected by the price of their components, materials, personnel, retirement benefits they're extremely well managed and i would like to hear your comments. >> they are incredibly well managed. the stock, i remember when people thought they would get a bid, maybe the 250s. here it is at 126. maybe buy some and wait down another 10% but that's -- that thing has been taken apart let's go to john in arizona. john >> caller: hey, jim, first-time caller i really appreciate your commentary wanted to ask about investing in california-based fast food chain
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del taco if current drive-thrus stay open, do they increase sales? >> i'll tell you, $2 lottery ticket it's a $2 horse pick it's like going to the horse track. it happens to be a really good company but that -- that is stop battery. let's go to bradley in california bradley? >> caller: hi, jim. >> hi, bradley what's up? >> caller: it's ben in palm springs. >> i'm sorry, i wasn't able to hear that. >> caller: dodx. >> this is a covid-19 lottery ticket i'm not going to call it more than that. covid-19 lottery ticket. would i rather be in something a little more substantial. i think that's fair to say let's go to evan in massachusetts. evan >> caller: jimmy choo, go! what do you think of abbott lab abc? >> abbott labs was down $6
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people are coming a lot more civic minded or at least a lot more worried about what's happening in their neighborhoods. which brings me to next door, the neighborhood based social networking platform. it's a great way to keep track of neighbors that might need help, exchange information and learn about your area. before the coronavirus people used next door to spread the word about lost pets, old bicycle or neighborhood safety or simply meet new neighbors now it's a whole new significance this march they've seen an astounding 80% month in spike of daily users. i think this is just the beginning. it's privately held but i think it's becoming the essential of today's new economy. let's check in with nextdoor's fabulous ceo sarah fryer and learning more about her booming business welcome back to "mad money"! >> thank you, jim, for having me i appreciate it. >> sarah, my wife who you met, lisa, don't forget, 6:30 tonight, open up the window go to the balcony and sing "the
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saints go marching in. how did she know that? >> she heard it on nextdoor. if it's happening anywhere, it's happening on nextdoor. >> i had no idea look, there's no local paper there's no -- there's no way to stay in touch with each other even if people are next door to each other so i think what did people do before nextdoor? >> i don't know. but we are the local hub and we are finding that proximity means everything right now. nextdoor was founded on trust so it's real neighbors, real people, real addresses so a big part of why we were founded was to bring people together and create trusted connections. as you started to mention, there's also really high utility in next door so when we're not in crisis mode it's a great place to find plumber, great restaurant, for example, or figure out what to do with your kids at the weekend. but right during the crisis we see neighbors putting their hands up to help we see neighbors putting their hands up to be helped. it is so uplifting to just see
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kindness and humanity coming to the floor even in the middle of a crisis. >> i was speaking to my 28-year-old daughter today about ailianation. she's in madrid. i said, look, i got an idea for you, c, nextdoor just got to madrid you're in spain. she needs community. we're desperate for community. we're so alienated you're there too. >> it's true we are in 11 countries it has been remarkable in this crisis i start my days on the phone with europe, typically going around before and italy clearly incredibly impacted and yet there we see the same neighbor-to-neighbor interactions happening in fact i think they started with singing out of your doorway motion sprain, france, netherlands, into the uk. we see organizations like the national health service sent a huge post to all of the neighbors on the platform just yesterday as a way to make sure the most accurate information is getting out there in the world
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of course, i often end my days in australia, which i will say with a little kind of slower here in terms of believing this was a big deal, so it's been interesting watching my country managers respond but it gives a remarkable preview across the world to look at a platform like ours now. >> you're also involved with charities that are so needed i know there's a blood shortage in america right now i know unless they get blood from people who have already beaten the coronavirus, we don't even know what the antibodies are. so you're involved with the with blood drive? >> yes, public databases is a big part of the platform we still have thousands of public agencies on the platform. right now we are seeing folks like the american red cross that you're talking about coming to nextdoor to really get the word out about blood drives the cdc designated us an epic partner, which means we're a emergency preparedness partner even government newsom last night in his state of the state address talked about the power of nextdoor to help communities
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come together. so we're absolutely there for public agencies. we're there for nonprofit organizations like the american red cross. we also work a lot with friends, like say walmart who might be doing testing centers to make sure their message is getting out into the neighborhood when it matters most right now. >> it's funny, when i heard the president thought about how google is doing a website. my first thought was sarah friar. if i want to know where the testing sites are in brooklyn, i want to go to nextdoor that's what you want i don't care about what's going on in iowa, right? i just care about what's going on in my zip code. >> that's exactly right. we keep talking about this power of proximity but we're kind of growing up in a world where he with different graphs. we have our friend graphs. they might be helping you with moral support but they will not get my groceries professional graphs. we're stuck on back and forth whether it's zoom or hangouts or whatever we check in on each other. right now in this moment of crisis, if you need to know what's going on down the street or you have that elderly
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neighbor who suddenly can't go out, like this is the moment when neighbors can really help neighbors. we have a group in my neighborhood called good fairy it's all about putting a little kindness back in the world i'm seeing college students who are out of college stuck at home doing car runs to the local supermarket for a bunch of elderly and vulnerable people in my neighborhood. it's so uplifting and just the right thing to do. >> i have to tell you in the halcyon days when we had a restaurant and bar, which was taken away, we would look for inventions of our restaurant, because my wife was the manager. she would say that's that sarah friar can i give her a check to take an ad, you always said not yet. when can we make it so we can use nextdoor, yes, for our own purposes to be able to promote >> sure, local business is a huge part of every community when they thrive, communities thrive i actually launched something called local deals so i have to get on lisa and get her on local
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deal once business is back right now small businesses and you know with my square background, i'm obsessed about local businesses i think there are three ways to help them. you talked about food, i think getting them connected to things like delivery, letting neighbors know if they're offering a packed-up dinner you can pick up and bring home if you think about retail, teaching them how to do more online clearly working with folks like squared or shopifying. and helping is interesting because you can't get your haircut at the movement or get your nails down. i think gift cards would be a way to create a bridge between now and when business comes back because these businesses need cash flow. for nextdoor in the future, this is a very big deal for us. we're building a whole category of run local businesses, you get a free page today and do the local deal but we will help businesses post into the feed in a really well done way so your message is getting carried in tough times
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now or hopefully when we all get back to business. >> i think what you're doing is great. you're must-read in our household, whether it be for pets or -- my wife said something got stolen down the block. let's make sure the door -- it's all that stuff it's what we need. it's just what we need right now. sarah friar, ceo of nextdoor always great to see you. >> thank you take care. 'm still 25. that's why i take osteo bi-flex, to keep me moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex - now in triple strength plus magnesium. weveryone, looknk isn'tat your phones. the design thinking, the digital engineering, security, blockchain, and we will be first to market! yes. when we do we launch? unfortunately, in 2 or 3, hours. why the delay? cognizant is helping banks use digital technologies
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at scale to advance speed to market. can we go get some ice cream? alright, we gotta stop here first. ♪ ♪ from smarter atms, to after hours video tellers ♪ ♪ comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. hi there. how are you? do you have any lollipops in there? (laughing) no, sorry. we're helping all kinds of businesses
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go beyond customer expectations. how can we help you? testing, testing, testing and more testing, okay and regeneron or malaria drug or gilled those are what we're banking on and i say do not lose faith because those could happen and they could go right. i like to say there's always a bull market somewhere. and i'm looking for it i was trying to find it just for you on "mad money. i'm jim cramer see you monday "markets in turmoil" starts right now.
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good evening, i'm scott wapner on day 82 of the coronavirus crisis new york state orders nonessential businesses to shut down the dow plummets more than 900 points ♪ >> if the number doesn't slow down, close the valve. we're closing the valve. >> new york becomes the latest state to tell everyone to stay home >> the dow on track for its worst week since the 2008 financial crisis >> stocks plunge another dramatic loss on wall street >> american life has just shifted on its
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