tv Mad Money CNBC March 30, 2020 6:00pm-7:00pm EDT
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their commercial is going to be down the raytheon deal closes some of the parts, this thing is cheap. >> guy >> eli lilly, brian. >> we're going to wrap it up there. simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you, but to educate, teach context. call me 1-800-743-cnbc tweet me @jimcramer. when you talk to grizzly deck about this market as i do, they all pretty much say the same thing with unemployment spiking to
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record levels we're hearing 47 million people could lose their jobs, 32% unemployment stocks will soon collapse under their own weight according to morgan stanley, we could be looking at a 25% contraction in our gross domestic product my money manager friends were all glued to their machines sunday why, of course, like every sunday night they expected the futures to be down the limit so how the heck could the market rally today? i mean, dow gaining 691 points, s&p climbing 3.35% nasdaq pulling 3.62% simple because american science is at last in play science that may allow us to not only contain this virus, but actually one day beat the darn thing. look, i in no means want to disparage the extraordinary efforts to get the pandemic
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under control. it's absolutely essential. that's why i've been calling for national lockdown, as much as it rankles some we have people gallavanting around like nothing is wrong new york city is a travesty. the new york mayor waited too long and we're paying for it a nationwide shelter-in-place order would make a huge difference in the course of this pandemic i want a nationwide travel ban, too, except for medical professionals. it's true traffic has dropped precipitously, but there is still too much of it we need people to stay in place, not spread this thing everywhere we also need to solve thismass conundrum. on friday we spoke to the sc.e.. of minor the president suggested this weekend when he had the same executive on in the rose garden these hospitals must be doing something maybe nefarious with them because the orders are so
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huge i think it's a sfiek pike in ded because nurses and doctors constanco constantly need to change their mask to keep this virus from spreading. we need a billion masks and gowns. that must be our goal, 1 billion masks and gowns and we should do whatever it takes to make them, get them, procure them, i don't care it's unbearable seeing in america doctors and nurses wearing garbage bags because they don't have enough personal protective equipment shame on us. we have to be better than that most importantly, we need testing and we need testing and more testing we happen to have abbott labs on tonight. they just rolled out a 5-minute test for covid-19. that's the game changer. maybe they'll finally let us get ahead of this. once he we can tell who has the disease and recovered from it make we can gradually open our economy again. until we lick this thing we need a 90-day pledge from big business they won't layoff workers as long as the government pays some of the cost it's a tough nut to crack. some can't afford it
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macy's furloughing all of their 30,000 employees that's how you contain this pandemic and help mitigate some of the economic damage so far we haven't been doing that great a job so what explains this in the face of truly grim predictions at the end of the day bending the curve won't beat this virus. we have to do it because it can save millions of lives but it's not a long-term sluks there is only one thing that can stop this economy from tumbling into a coronavirus-induced depression, and that is science. we need a cure or a vaccine. and in the last 24 hours we've gotten some serious go aheads when it comes to potential treatments the fda granted approve for hydroxychloroquine nonapproved studies that the antimalarial drug can stop covid-19 in its tracks the z-pac, age signaturac, a az.
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the president is very hopeful about this combination these are old school malaria drugs. no joke. the side effects can be severe honestly, things are bad enough that i think it's worth prescribing the stuff to coronavirus victims who don't have preexisting heart conditions but please understand, there are lots of people, really competent doctors who say this is a dangerous combination, so please, get excited, but don't go too excited but get excited about this this morning alex, the c.e.o. of johnson & johnson talked about how his company is developing a vaccine that could be available early next year. the best part, the scale he's talking about a billion doses, not 50,000, a billion that doesn't do us any good now, but it could be our salvation next year if nothing better comes along because this scourge is going to be back. we can't wipe this out in six months it's coming back
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maybe we have something for it when it does something better, roche is texting a stroke judge that could work against covid created lumps in the lungs it could beat it and allow everyone to go back to work. my money is on regeneron of course, the clock is ticking, $2.2 trillion economic life support package will help millions of people get through the next month the provision that allows employers to get loan forgiveness if they keep their employees on the rolles is genius it's going to help the small business person and the people who work there but we need some insurance we need something big that will help working people, especially health care workers. that's why we need to spend a lot more money issue a massive 30-year covid war bond if we have to treasuries currently yield next to nothing the bond market's desperate to give our government money.
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the market would lap up a $500 billion beat the covid bond with a decent coupon. come on, mr. secretary mnuchin, pew it up. the main thing is the federal government needs to spend. i know we're hearing about something that plagued president obama's package. give me a break. we simply cannot afford to go down that path we don't need the best bang for our buck with the stimulus we just need to give people money, that's it in most of europe the government is paying 100% of people's wages for the duration if we want to wait for scientists to come up with something, think big, i've been saying it from day one most importantly, we want testing and then testing and more testing forget shelf-ready products. i want tests on every block who is healthy, who is immune, because we want their blood. the way to defeat this is to stay home, get tested when you don't feel well.
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wash your hands. get tested at home it might not give people heart, but it will keep you alive i'm a natural optimist i failed today, except my wife, my 28-year-old daughter who is an english teacher stuck in madrid of all places watching our health care system i implode -- america, glad bags. today the market says maybe, just maybe there could be some hope unfortunately tomorrow is another day. let's go to andrew in new york, please andrew >> caller: hi, jim i just wanted to first say that i'm an anesthesiologist and things are really tough here in new york if everyone does their part like you said on the previous show, wash hands, stay away, we can get through this >> i am with you we are all with you. you are front line soldiers. thank you for what you're doing. >> caller: my pleasure, jim. anyway, my stock is united health care. it's up quite a bit from its
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lows last week did i miss my opportunity or start a position at this level >> i would prefer you to wait. it's not that expensive, but it had a huge bounce in a v they tend to pull back a little, go a little more w-ish and then you'll be able to buy. i'd rather have you wait for this one let's go to bill in texas, please, bill >> caller: jim, booyah >> booyah. >> caller: so, united airlines seems to have had the biggest swing the past couple weeks compared to the other airlines with the help of this recent bail out and talks with the -- can we expect decent growth soon or expect to see another significant drop >> remember, no customers and you have a lot of cost but my friend james b. stuber is on friday. go for the most down and outers. united just so you know is different from, say, carnival. people will want to fly someday.
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let's go to cynthia in massachusetts, please. cynthia. >> caller: hi, jim my question is about bed, bath and beyond i started buying it at about $15 a share in january through to recently, and i'm down about 55%. >> right >> caller: yeah, it's in the news tha the s&p >> right >> caller: and the stores are .a until april sometime, until no , what should i do with the stock? >> this is like many a retailer. had there not been covid, i think that the turn would be self-evident with covid it's just a house of pain covid changed the game for retailers. and unless you're in one of the five or six retailers that i've been talking about that are going to take over the world, a company that i like like bed
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bath on a turn, it can't turn. we have to solve this illness. the only thing that can beat this virus is stop the economy from -- science. we're starting to see some promising things it's been heartening abbott labs received emergency fda approval for its covid-19 test which can tell if someone is infected in five minutes. small enough to use in any health care setting. we'll sit down with the c.e.o. to talk about a breakthrough i talk about a company in the environment. and s.a.b. about hp. is adaptedn the new normal in the workplace. stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets. send jim an email to madmoney@cnbc.com. or give us a call at
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this is the most exciting thing that's happened since this period began we can't get this economy going until we beat the virus and we can't beat the virus without a lot more testing, testing, testing. fortunately last week we had a potential game changer when abbott laboratories launched a molecular point of care test that can detect the coronavirus in as little as five minutes this is a very big deal and at this moment for the great enterprise that is abbott right when the long-time c.e.o. is
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about to pass the torch to his successor. under white's leadership over the past 21 years, the monster 87% return let's check in with myles white, the bankable chair of abbott labs and the coo who takes over the coo job tomorrow >> thank you, jim. >> good to be here >> you are the dean of the entire industry. what kind of enterprise are you leaving robert with? >> well, i'm leaving him with one right now that's going 24/7 trying to provide tests to make a contribution to fighting coronavirus. i think it's pretty strong organization and i'm really proud of the management team and robert for all they've been able to do and demonstrate. i leave a company that is just a tremendous collection of great managers that can sustain our
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business and hopefully do something to fight this virus. >> robert, for the first time in a long time -- i wasn't teary eyed but so grateful because of everybody's lives being disrupted. when i heard you had this machine, when i heard you could do five minutes, i realized we're going to win this war. what we were missing was the opportunity to be able to beat this on the spot tell us how it could possibly work this fast, robert >> well, it's great to be here, jim, also. legali let me start off by thanking the abbott scientists, the manufacturing supply chain teams. they've been working 24/7 to get this done and a lot of partnership with the fda to be able to get this done in record time but the i.d. now system which is our rapid point of care molecular test can do the test in as little as five minutes the innovation is incredible it uses molecular technology to be able to identify a very unique kind of virus genome
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through an amplification process. it does it a billion times in the box to be able to find the virus. yet it's very simple to use. you take a swab, a nasal swab. you put that swab into a cartridge that's got reagents and chemicals. you close the lid. you follow the instructions on the test -- on the touch screen and you get a result in as fast as five minutes. >> so, if i'm in a hospital and i am worried about my doctors, which is the front line soldiers in this war, i am able to determine whether they are sick on the spot. >> absolutely. that's been our focus actually as we've had conversations with the administration, we've had conversations with the task force, with the fda, we've had a lot of conversations with governors from different states over the weekend to be able to look at how we're going to allocate this test to be able to test as many people as we can. the first priority as we roll
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out is our front-line workers. the e.r. doc, the icu nurse, front-line workers taking care of us. we don't do ppe, but we do tests. we want to make sure their tests -- these people are safe so they can take care of us. >> all right so, miles, i have to believe when it comes to abbott, abbott never stops at one thing i have to believe that 50,000 today, maybe it's going to be maybe 100,000 in two weeks or more than that or a new kind of test. maybe even one we can use at home don't have to go to a car line, don't have to have someone stick it up our nose we look and we decide, we go back to work is that possible, sir? >> it is possible and, you know, i have to say while we're very pleased with the performance that we've been able to deliver here, we've launched two tests in the last couple of weeks. there's still more and there's a need for more. we have a collection of technologies and formats
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we've got multiple r&d teams at work there are more tests coming. there are cyrology tests, we're looking at auto mated versions, more like a pregnancy test it's a test that doesn't require instrumentation. all of those are a matter of weeks to a couple months away and those teams are working around the clock just like the ones who brought i.d. now to us worked and the ones who brought the automated test on the m-2000 so there are more tests coming they are also putting a lot of effort in the organization into capacity expansion because while 50,000 a day sounds like a lot, it's not enough. and we know that and for a while we'll be allocating and prioritizing to high-need areas as robert's indicated. we know that fighting this virus and being able to go back to a world that's more normal is going to require a lot of testing in the right places with rapid turn around. and fortunately, we have multiple formats to do that with so, yes, that's all possible >> robert, you just heard miles
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say maybe get back to the way it was. when i think about the testing, to me that is what's key to get people back to work. i have to believe that the president knows what you're doing, that dr. fauci knows what you're doing, that the fda is so on the case to let this happen, and that this is the breakthrough we've been looking for. we had thermo. i love thermo. i think roche is great but those turn arounds are not fast enough for the american people this is, correct >> well, you know, those are great companies also and i think we've got to look at this comprehensively. without a doubt, the point of care is a game changer to be able to do it in five minutes, we have been in conversations, as i said, with the administration, with the task force to be able to kind of deploy this in a way that allows us to test as many people as we can. but as miles said, 50,000 per day is not enough, so we have to rely also on the lab instruments that are in the labs, in the hospitals to be able to kind of
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support all testing needs. as miles said, we had an approval ten days ago for our lab instrument that's gone very well. we've shipped over a million tests by the end of this week and we're going to double that during the month of april, too so we have to test and abbott is definitely looking, as miles said, across different form factors, different types of testing and environments so we can get there. >> okay. i know when i speak to lynch life, when i speak to roche, when i speak to the people -- literally everybody who is involved trying to come up with a vaccine, what i hear about is you've got to have sirology. i know that miles mentioned that robert, explain to people how if we knew the blood, if we had the blood of people who had beaten this, tell us what this means to get our country back >> i think it's super important. that's why we kicked off four teams, the sirology team is the third team they have the light shining on them right now and it is very important for you to be able to detect there are two antibodies that
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are important to detect. the igm antibody, it pops up and comes down after four days and the igg antibody which lasts, it could last about a year so you know, for some reason you were infected, you got over it, you now know that you've had the antibodies and that is going to be important as we look to reopen the country >> so, miles, you've been an unbelievable stua unbelievable steward of a great american company did you ever think for a minute this thing could beat us >> you know, i think we're all properly challenged, meaning we're taking it seriously. we're afraid of it, but at the same time -- we're afraid of the damage it can do do i think it can beat us, no. i think the frustrating thing is the time it takes for us to come back at it i'm excited about the announcement j & j made today.
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i hope to god they can get there fast and any other companies with vaccines, too we're going to need vaccines, we're going to need medicines, we're going to need a lot of things a long time in order to beat it. do i think our scientists will beat it? we'll beat it. some day there will be another one that will have to beat we'll be ready if it ever happens again. >> robert, last question when i look at abbott and i hear there can be like a pregnancy test that miles said what i am envisioning is there could be something, maybe even by the summer where we could get tested, all of us -- if we decide, you know what, i don't feel well. we can get tested, maybe even over the counter by prescription because if we don't feel well, we stay at home. and if we do feel well, we go back to work and we get the country moving again is that a possible vision? >> i think that's definitely a possible vision. maybe the summer might be very ambitious, but that's how we're working at it. we believe that we can scale up these tests. and i actually believe that, you
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know, we're going to have to have to have this covid test maybe not into the summer, but into the fall. as you said, if i feel a little -- that i need to get a test, i can get a test >> so, miles, tell me, how is the administration handling this >> jim, i can only comment on that from the perspective of the testing. and i would tell you that the administration has been incredibly supportive. they've acted with urgency and professionalism. i'm particularly impressed with frankly all the support that's come from the white house and from the fda the fda has turned cart wheels here i've never seen anything like it in my 35 years at abbott since 1985 when the first hiv blood screening test was done. dr. fauci knows that what the fda has done with the review and approval of tegss has been phenomenal and incredibly supportive so has the administration. so i have nothing but positive things to say about it there's been no obstacle here. all the companies in our i7
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industry have been working 24/7 working to create these tests. >> thank you so much, miles white, outgoing c.e.o., robert ford, in-going c.e.o great to see you and best of luck when you look at the critical issues facing our world, what do you see? we see a billion more people breathing free. we see access to fresh food being the global norm, not the exception. we see homes staying cooler, without the planet getting warmer.
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it's official. the coronavirus has created magnificent bull market in cloud computing. remember i say you always have to find the bull market somewhere. it is in cloud computing i've been telling you this for weeks. even i didn't realize the full extent of it until i read microsoft's update on the azure cloud service this weekend and the numbers, they knocked my gold toe socks off listen to this quote, we have seen a 775% increase of our cloud services in regions that have been forced to social distancing or shelter-in-place orders. you heard me, 775% increase. not just azure microsoft points to a, quote,
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significant spike, end quote, in team uses which now has 44 million daily users. last week those users generated over 900 million meeting and calling minutes on the team's platform every day these numbers are astounding consider how much equipment they need to meet this kind of demand first you need a massive data center built up more than we have now things heating up when micron mentd stronger data center orders for their chips when they were on the show last week so whore besides micron you have to think about data centers. that means nvidia, that means amd which is also by the way making a killing in the processors for laptops those are flying off the shelves. intel works, too, same reasons second, we all know zoom video has incredible traffic it's part of logitech doing well cisco's web ex collaboration business others are likely to experience
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slow downs because of gdp declines maybe it will offset the weakness when i had a radio show, we fell in love with real-time stay in touch software it's been a monster winner lately as has slack which is just like microsoft's teams. lets of not bury the lead people we now know microsoft's been a huge beneficiary from the lockdowns. their azure platform is gaining adherence in part because retailers don't want to send business to amazon web services as it belongs to the largest competitor bread and butter windows, installed on the vast majority of windows and laptops stay-at-home palomino employees are getting from their employers. i hear slack bashing is better than teams let's say it's embedded. there is still one big worry for microsoft. most other tech companies support our economy. i expect a major worldwide slow down so there is a real possibility that microsoft's booming cloud business could get cutback if millions are laid
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off. however, i think the rapid fire adoption of microsoft's cloud platform overrides these macro concerns don't overthink this one microsoft's stock is a buy of course, i'd like it to come down after this gigantic rally but microsoft, it may be the best tech stock in this market stay with cramer yes. it's the first word of any new discovery. but when allergies attack, the excitement fades. allegra helps you say yes with the fastest non-drowsy allergy relief and turning a half hearted yes, into an all in yes. allegra. live your life, not your allergies. hey, our worker's comp insurance is expiring. should i just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%.
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if we're going to get through this in one piece, we need as much help as we can get. fortunately a lot of businesses are stepping up. take s.a.p., the huge german company, they're offering a slew of products for free to help their customers cope with the pandemic companies hire external workers, software that helps organizations procure much needed supplies. tools that can help managers
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check in on their employees who are working remotely this is what being a good corporate citizen looks like so let's take a closer look with jennifer morgan, s.a.p.'s co-c.e.o. to hear more about how companies are addressing the pandemic and other things s.a.p. is doing ms. morgan, welcome to "mad money. >> jim, thank you for having me. a >> jennifer, we've been talking with abbott labs you may involved with the game changer that could help us get ahead of the illness >> let me start with a huge thank you to all the people who are on the front lines of this pandemic they are the true heroes and we are in their debt. so to be able to partner with abbott, who is an amazing customer of ours is special and an honor for us to be part of that >> will you help make it so that it gets where it has to go more easily >> exactly, exactly. you know, i mean, jim, when you think about our business, what we've always done is we're
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listening to demand signals, supply signals, and now more than ever, sentiment sentiment is really, really important in the virtual world to pull all that together and make sure we can get people what they need when they need it. >> speaking of sentiment, you know our country is in trouble germany is in trouble. many countries are in trouble. but i think you're stepping up to the plate and making it so that your workers don't need to be afraid over the next three months a pledge >> absolutely. so, jim, our pledge is that there will be no significant layoffs at s.a.p. over the next 90 days and we're focused on our employees and we're focused on our customers and getting through this together. >> and you're doing that because that's the way s.a.p. operates >> that's how we roll. >> all right now, you roll in a lot of different directions you know about customer behavior better than anyone you know covid-19 response what's it really look out there? i've got economists from wall
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street telling me how bad it is, but you're in the trenches what is really going on? >> so, two things i'll talk about, jim one thing is employees this world went virtual overnight and companies are struggling to make sure their employees are okay, that they're safe, that they're healthy that they have the tools that they need to be productive but that doesn't end the first week that they're home we all know that every week it's changing really, really fast a great company that came into the s.a.p. last year is focused on sentiment one of the first things we did was launch remote pulse. 5,000 companies jumped on board using this for free and it's a way to really listen to what's going on your employees. this is changing every single day. >> right >> from connectivity to how do i twork wi work with other people at home when my kids are at home it's interesting, when you ask people are they okay, what do
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they nieed, you get the real honest truth there are a lot of people alone and isolated at home mental health is something thats ha to be on the mind of all companies today. making sure your employees are healthy, that they have what they need is going to be critical to anything before they can be productive. it's key and we hope many companies will take advantage of this offer, jim. we've seen a spike of about in the triple digits of companies who are watching these pulses, which is essentially a listening survey rather than react to what happened yesterday, you have to really prepare for what is the world look like tomorrow and what are employees going to need tomorrow so that's a big part of what we're doing with it. >> you bought one of our favorite companies, concur, which we use and everybody uses because it's the best. what is that showing, by the way, about travel? has travel just ended? >> it shows what you would think, jim we're not traveling really right now. but i'll tell you what's been great about it concur has something called
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locate, and a lot of companies, when all these travel mandates went in place, in a time of emergency we're able to very quickly locate our employees and make sure they got home safely that's a big part of what concur does as well concur also manages and helps employees with their staff so when you look at some of the trends we're seeing in spend, they're what you would expect. markets are still happening. people are still spending. employees are still expensing. it's a little bit different. it looks a little bit different. we see over in china, we see that picking up a little more based on what we were seeing -- customers using concur back in january. so it does give us those leading indicators as an incredible network of information and also, you know, you touched on this incredible source of information, ariva is another source we have a big network. if you think about ariba in that network, it's basically the business version of e. bbay or
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amazon we have buyers and suppliers who transact about 3 trillion in commerce in a time like this, as i talk to other c.e.o.s out there, the number one thing they're focused on is new network sources of supply where can i get new sources of supply last week we opened it up to the world to use ariba discovery so we can bring together the demndd and supply we have a construction company trying to repurpose, a building to become a hospital, we couldn't find beds we connected them with another supplier and in 30 minutes they were able to get the 500 beds they needed and the stories are on and on. this is what we're doing and this is how a company like ours west blessed to have a great business can bring that to the world in new ways. >> your company has also been opportunistic. there will be companies that the stocks will be down, but the companies aren't the companies are doing well and you season that. is this the time or do you have to wait until covid is conquered
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that s.a.p. is can see what your next move is >> jim, we have a great portfolio. we're just getting started with new combinations in that portfolio. and so i'm very confident with the combination of all the switches we have right now many customers maybe run one or two of our solutions and have the opportunity to take advantage of others. really now is the time for us to be there for our customers no strings attached, make sure we bring the best of s.a.p this is what we do we connect demand and supply we bring in the sentiment and we help companies run really effectively. and a lot of times we're not talking about these things because they just work in business >> right >> it seems boring, but in a time like this, jim, it's pretty important. >> well, our good friend bill mcdermott, your predecessor, tells me one thing i should know about you, you are about as competitive as it comes. how is the competitive landscape? >> you know, what is beautiful about a time like this, jim, is it's really great to see companies coming together
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regardless of whether they compete. and that's what i love and that's the spirit i love in a time like this it brings out the best in everybody, individuals, teams and companies. from a competitive perspective, we feel good about our portfolio. a time like this reminds us that our portfolio is very vast, very rich and sustainably relevant, right. it solves businessne problems a this is something we're proud of we have great partnerships with other technology companies out there and we'll continue to do that yes, we'll always remain competitive because that's where success comes from >> you've got great spirit i thank you so much for coming on "mad money. it's great to meet you jennifer morgan, co-c.e.o. of s.a.p. >> thank you, jim. >> thank you "mad money" is back after the break. at&t has connected us every day for over 100 years.
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>> caller: booyah, cramer. >> booyah, peter >> caller: we get demand for ski mountain operations. what do you think about vail resorts? >> i'll take a pass. it is regarded as a place people can get sick put it that way. maybe it's not true, but that's what i understand. let's go to deo in minnesota deo. >> caller: yes, cramer my question is i want to know if general dynamics stock is a good time to buy. >> you do want to buy. defense stocks right now i prefer you to be in l 3 harris which has come down from 280 to 231. let's go to steven in new york steven >> caller: hello, professor cramer thank you for bringing a ray of light to the dome of darkness. >> trying my best. >> caller: i have always been a friend of henry shine, hsic and thursday shine announced the ability of an antibody rapid to
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test results for the pinprick. they anticipate having at least several hundred thousand tests available this week and significantly more beginning in april. how will this news affect the share price knowing that so many dental offices are closed due to the current mandate which could bring henry shine dental sales to a halt? >> stock is still too high the company did speak on our network today. it's good that they're doing that, but at the same time i've got to tell you it sells at 14 times earnings and its business is slow and slow and slow. i'm going to say no. let's go to damon in pennsylvania daymon >> caller: booyah. been watching 15 years >> gees, that came and went. what's going on? >> caller: i'm wondering with some governments making cannabis an essential and people stockpiling if your view has
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changed on till ray. >> no. let's go to mert in california mert >> caller: how are you doing >> good, how are you >> caller: a new manufacture and new listener just wanted to say booyah. >> booyah. what's up? >> caller: i just bought cesar soft when it was down around $4 a share. and my feeling was it was going to keep going down, but it's going up and i'm just wondering do insiders know something i don't know >> what stock? cesar's? no, unless they know of a cure, which they don't so i don't know. let's go to matthew in new york matthew. >> caller: hey, jim. thanks for taking my call. >> of course >> caller: love the show talking to you from my cell phone place in mid town manhattan. >> all right >> caller: which is arguably the
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capital of the traditional ad agencies >> totally >> caller: yeah, i'd like your thoughts on advertising holding company omni com group >> omni con is going to be one of the winners in this group others aren't going to make it i think this is one of those last man standing situations that i really, really like and you get that nice heel let's go to barb in illinois barb >> caller: hi, i have an offer from xerox to acquire my stocks for cash or combination of cash and couple hundred shares of xerox stock or keep my shares of ht considering the fundamentals of the company and may age, 63. would you recommend owning h-p or xerox >> i would not touch xerox their whole thing, hostile thing, that was very unappealing and ill-advised. i do like hpq because they have a good business getting better
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because people are doing things remotely remotely means you need hpq, hewlett-packard notebooks. and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade ♪ ♪ mom! look! take something that can wipe you out? or don't, and fight through every second. new quick-dissolve nurtec™ can bring you back when migraines attack. just one dose can work fast and last
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at home is cleaning money. they're like the guys selling picks and shovels during the california gold rush a broad array of networks and services to companies all over the globe, enhancing critical applications, and a bunch of different content services into a platform we had them on january 17. that was right at the peak the stock has rallied 33%. they're essential to the stay at home economy because businesses rely on their software to make sure they're running smoothly. the stock got even more to run don't take it from me. the co-c.e.o. of cloudflare, mr. prince, welcome back to "mad money. >> thanks for having me, jim >> i have to tell you a lot of people think the only company doing well is zoom cloudflare, we need you.
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if we're working at home, don't we need cloudflare >> the real heroes are obviously the people responding to this on the front lines, the medical professionals, scientists working on a cure. but the reliable side kick for all of this has been the internet and specifically the cloud. and so i think companies like zoom, companies like cloudflare, as we help companies make sure they can continue to work, we're incredibly proud of the role we're playing today. >> one thing's for certain the internet was not built for what it has to handle right now. and you recognized that. most of the companies i deal with are accepting the internet as it is you have a different view of what the internet can be >> well, i think, you know, the internet was really designed to deal with a different type of crisis if you look back to the original days that it was designed around, how do you make a communication network that can survive a nuclear war literally, i think that that original design has gotten us a long way. but over the last ten years, what we've done at cloudflare is
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help build a better internet i think that is why our company is -- the people who rely on us every day are able to weather whatever this crisis is throwing at us. and we're seeing, you know, incredible volumes across the internet but i think it's pretty amazing. you can't imagine another public utility. if it's doubled its usage which is what we're seeing around the world would continue to function i think that's the case and cloudflare, i'm proud of our team playing one small part in making sure that happens >> you're growing millions of customers, couple million customers. what i want to know is akamai, amazon, why do i go to cloudflare >> the thing that's valuable about us is we provide one global network where we've been able to continue to scale to meet the needs that our customers have and so if you look over the course of just the last week, i've been incredibly proud of the fact we've been able to on board one of the largest medical
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providers in the world we have 20,000 of their employees that are now relying on our network in order to be able to work remotely. one of the largest telemedicine providers in the world is using cloudflare to make sure their physicians can work remotely round the world. we have one independent network that allows us to scale and accelerate at the rate companies are able to get their businessnebusiness done i'm incredibly proud of our team and we can help the companies do their work even in this crisis >> let's go to telemedicine which we think is here to stay when i use one of these telemedicine providers, what i'm hooking into is the cloudflare network? >> what is happening, typically these providers had to work from their clinics. when they do that, they have different regulatory and compliance requirements to ensure they have to be able to keep the data on their patients secure now as all these providers are having to work from home, they don't have that same ability to
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access their systems they're not working from within that secured environment what cloudflare allows is people to tap into our network, get that same secured environment and be able to work from home. for someone like a telemedicine provider, it's helped them stay online and continue to serve patients >> now i get it. okay now, one of the things that you guys are famous for is elections. there are a lot of people who are worried there may not be a traditional election in november in this country. what do you have to say? >> i think it's something where, you know, we really think that we have a public duty to do what we can to ensure that the critical functions of our society continue to work and so we continue to work with state, local and federal officials in order to ensure that any of the election systems that are up and running can be secured from what is increased amounts of threats that are happening during this perilous
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time and so, you know, i don't know exactly what's going to happen, but we were -- we stand ready to provide our services to any governments anywhere in this country that need help making sure that their election infrastructure stands up and that we can have a free and fair election >> one last question lab corp. is a client. lab corp. is at the front lines of trying to get testing done for covid. what do you do to help them so that we get the quickest and most accurate testing from lab corp.? >> well, fundamentally what we do is we make sure that they're -- whenever they have to rely on a network, whether that's their employees getting work done or their systems where people fill out requests for lab testing, that that stays reliable and that it stays up and available throughout this. and so where you see different medical systems, different physicians that are needing to be reliable, we are the company that's helping make sure that the network works the way we all need it to work. and, again, i think that the
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internet is going to be -- going to come out of one of the real heroes of this crisis. and, again, we're really proud of the small role we're playing in making sure that's the case >> you're playing a large role you're a humble man. that's matthew prince, c.e.o. of cloudflare and a terrific stock. remember, huge outperformer even since the top of the market. "mad money" is back after the break.
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lightning round question about bed, bath and beyond it's painful they have a lot of cash. they have a new management team. but they're brick and mortar and almost everything that's brick and mortar may not come out on the other side unless it's a big box retailer that has a great balance sheet. the world is really changing and changing very fast and when you see excellent outfits like r.h., restoration hardware, have so many of their stores close, you say, wow, well, they can make it we know they can they've got good capital they have a good debt plan but most of them, maybe they just don't make it when we get out on the other side, thank you to abbott labs and j & j for helping us get there and workers fighting this battle a lot of retailers you see will go the way of the ones, wool worth's, grants, montgomery ward i always like to say there's a bull market somewhere and i promise to find it for you here on "mad money. i'm jim cramer
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"markets in turmoil" hosted by andrew ross sorkin starts right now. . this is day 92 of the coronavirus crisis today, the dow soared amid new hope for ways to fight this illness. stocks trying to build on last week's massive gains >> the bulls win the day stocks pick up more lost ground. >> this is a bit of a moon shot for j&j. >> we look at distributing it's a pinprick test results received in about 15 minutes. >> this
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