decreasing capex i thought they did a good job and the holy grail for them would be an infrastructure build which maybe that happens. >> dan nathan. >> twitter down on earnings and you reload at 25 and it will get there soon >> "mad money" starts right now. gretch 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 make you some money. my job is not just to entertain but to educate and teach you call me at 1-800-743-cnbc or tweet me at jim cramer

how many does it take to stop a raging bull a bull that produced the best month for the stock market in 33 years? i think we might have found out today. looks like 30 million. yep, just as we learned that we had the best rally since january of 1987, an admittedly inauspicious year, 1.2% is the slowest pace this month. we also got incredibly bad news. jobless claims bring it to 30 million over the past six weeks. no wonder the dow tumbled 288 points, nasdaq shed .28% today this was an explosive situation. the market was overbought. we have again another great depression with the unemployment number that is not confidence inspiring for me

i don't know about you when we saw a great labor market before the pandemic, i'd still be concerned after the run from the bottom stocks had gotten too hot. we're now at plus 7.2%, the s&p range oscillator, the one i swear by it fell to bottom 20 anything above plus 5 is overbought 7.2 reading makes me concerned which is why we've been selling, selling, selling for my charitable trust, join action alerts.com club. does this fire haveenough left in the embers to keep going? what fueled this move from the market's lows? first we got ridiculously oversold days on end days on end. this was some of the uglyest up down on valium, number of shares

sold to bought in terms of on the decline that i have ever seen in my 40-year career. and this i call unsustainable. that is just way too much negativity after the spectacular run all that pop is gone you can't argue the market is too pessimistic any more we were rallying like craze. that doesn't think we have to revisit the lows i don't think we'll see this again. i don't. it is highly unlikely that will happen you can only go so far on an oversold bounce. not here, but not there. second, when things got out of hand, the federal reserve decided to take a malcolm x, by any means necessary approach to prop up the economy. fed chief powell wanted to prevent the wave of bankruptcies about to wash over america and he did it. he told us that if necessary, the fed would even buy distressed debt, junk bonds, so that troubled companies would be able to stay alive once he made that commitment, companies have had a much easier time raising money we had only a trickle of

bankruptcies instead of a torrent. i think that isthe right call. covid-19 is nobody's fault there's no moral hazard. this thing is devastating. anything that minimizes the economic damage i say is worth do it, but we've known about the fed's moves awhile now you don't buy stocks on the same information, do you? it's what we call bait in, okay, baked in this is baked in, this is baked in let's keep going third, we thought our health care system would be overwhelmed by covid-19. thanks to the lockdown that hasn't happened. we flattened the curve we avoided the worst case scenario that wasn't the reason to buy two weeks ago, not a reason to buy now. fourth, until yesterday we didn't have any drugs to fight this vicious mad dog of a virus. yesterday we learned gilead has an antiviral called remdesivir that gets you out of the hospital faster. it's not a cure, but it could be the first component of a

cocktail that makes covid more manageable dr. fauci compared it to the azt breakthrough for aids 30 years ago. he sounded downright enthusiastic about remdesivir. that's why the market exploded higher yesterday could we have more upside from this drug? absolutely not it is already baked in we need more antipandemic fuel. it opens a whole new lefl of risk if we let our guard down. there are things we can do to lessen the risk. in most of the country it's difficult to get tested including new york city. the worst hot spot in the country. you have to cool your heels before you can even find out if you're sick. we have no way of telling who has been exposed because we haven't set up any contact tracing system masks not enough they're worth wearing, especially if you can get those fancy n95s costco made it mandatory don't

go there without one not the government, costco it's the gold standard here. i followed the company for years. they generally take the safety of their employees and customers more seriously than anyone on earth. put it all together and i think the good news on the coronavirus front, well, already priced in which leaves us with earnings. now, so far we discovered the quarterly reports aren't that bad. that's because january and february were so strong. b.c., before covid they offset a miserable march. the little we've seen in april has been downright hideous with a few exceptions like microsoft which is uniquely situated to benefit from the stay-at-home economy as we go through earnings seasons these hideous march numbers will take up more oxygen as a prelude to an even worse april. both stocks got hit in after hours trading. amazon much harder because they had to spend a lot of money to

build out new capacity in the covid pandemic how could that have been a surprise apple had to pull their guidance their sales are bouncing back in april after a tough march. i thought it was beautiful when you hear pull guidance, what can i say, people get upset. these are some of the best companies in the world apple boosted its dividend even though the stock market is in trouble, i like both. they're going to get hit i would buy them, particularly apple which i say own, don't trade. don't forget we have 5g coming down the pike. the rally with the lows, makes sense. as did a big chunk of last month's crash. but now, now, now? the bottom line is we're going to need something new, something different. i don't know what it would be. without it the market will stretch after these levels, a fantastic run. if we rally without new positives and the market's need to demand of microsoft's numbers, great sales from amazon

and earnings from apple, i'm not going to blame you and i can't blame anyone since my charitable trust has been doing it. ringing the register kyle in new york kyle >> caller: hey, jim, how are you doing, buddy >> all right, kyle how about you? >> caller: pretty good, pretty good got home from work, having a beer, doing all right. >> that's like the old days. don't throw a party, though. don't go having that much fun, all right? >> caller: no. >> i want to be sure you didn't have that much fun what's up? >> caller: so, i bought wayfair five weeks ago >> whoa, then you're a smart guy. >> caller: $25.96. i'm up about 400%. so, i'm wondering if i should dump it or ride it out -- >> listen to me, listen to me. you take out your cost basis tomorrow morning i don't care where you take it, just take it and then you know what take that money and i want to

buy -- when the store is open, a cashmere sweater and celebrate with the rest of us. let the rest run i'm not kidding. i need that basis taken out. i need to go to aden in new hampshire. aidan. >> caller: jimmy chill, what's going on >> the wife is on the fence about the chill situation. go ahead what's up? >> caller: i have a question about -- >> real sni >> caller: they signed a ten year partnership with google to handle their i.t. system i was trading at 22 and change since then, shot down to 7 where it's currently sitting saber fi tech solutions for the travel and tour industry what do you think of this as a play in the volatile markets >> i can't go there. i don't know what travel is going to be like you're doing what you're doing there. okay, listen, this one is so low it can bounce. that makes sense carnival went to $8. some of these things, norwegian, they do bounce, but i'm going to

take a pass. i need to go to kenny in kansas kenny. >> caller: booyah, jim, how are you doing? >> pop's name is kenny i always like kennys what's going on? >> caller: nothing much. i'm a long-term investor i currently hold stock in amc. >> well. >> caller: they made the announcement they will no longer be showing universal movies, universal decided to release movies on demand do you think theater stock is a good long-term investment? >> i work for comcast. i thought the high-speed numbers were great people didn't seem to like the trade. i own the stock. amc no i think adam aaron is a genius he grew up like five minutes from me. look, i'm not going for the hard money. i don't want to go for the hard money, i want to go for the easier money amc is the harder money. saber is the harder money. by the way, wayfair is the harder money, take a little off the table. the market is too stretched. it is.

let's call it as we see it i've been bullish. it's too stretched take some cash it's all right no sin on "mad money" tonight, most help limit the spread of coronavirus. what does that mean for a company like alliant technology and what does it mean in the future talking to the c.e.o then a play you should put on your radar especially when i went over the checklist. more employees are working from home how is an old favorite and friend juniper networks fairing? i'm talking with the c.e.o. after earnings, so stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets. send jim an email to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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one of my old time favorites, alliant technology, they make vis-align braces it's hard to get an appointment. teeth straightening off the table. align was facing competition before the virus hit which is why they issued tepid guidance in january the stock was eviscerated plummeting 277 from the february highs to $128 mid-march. since then, though, the stock made a comeback. especially since stock market got more sanguine.

tepid numbers last night nobody cared about the sales and earnings the first quarter couldn't be good management gave a mixed report on the global operations stock declined 2.6%. is this a predictable pullback given how much it ran like the stocks i talked about at the top of the show? let's take a closer look with the president and c.e.o. of align technology welcome back to the show >> hi, jim thanks for having me it's good to be here >> hey, joe, i've got to tell you, i thought you would have a terrible quarter you can't get in to see a dentist unless there is something that requires -- i don't know how you get in. everybody knew that. we almost have a health care recession because everything that's elective is off the table. how were you able to pull off this number, which i regard as solid, given you're not supposed to go to the dentist to get your teeth straightened >> you know, jim, the first time is we have a real-time business.

it's real-time a mass customized business we were cruising along outside of china we were moving along really well, actually ahead of guidance up until mid-march and that's when the market really fell out from underneath us, about 70% of the dental offices were closed around the world. it was a mixed quarter, a really strong quarter going into the last two weeks and then it fell down >> but i think you can say that china was bad at the beginning i know it's not as big as america. but china came back. i would think that when you open up the electives, it's going to be the same in this country. >> you know, that's why we're optimistic, jim. china is the only market we have now because they were first in the tunnel and first out china is 8% of our business. it's a very important part when you look -- you regress january before they went in, the order rate is 80 to 835% back. not all the areas of china is

back beijing has been slow. hubei has been slow, coastal provinces are strong i'm optimistic about that. it's a good vector for our business as we look at the western side of the world coming up >> i talk about align in a different way than i typically would. my daughter loves it, everybody in the selfie generation a lot of what happened in microsoft last night, he said every company is now digital there's no choice. every company. i was speaking with mark benioff before the show. his kids have invisalign sales force worked directly with you to become more digital you are the most digitized company of one i haven't seen, so to speak. tell us about the revolutional digital you're doing >> it's all about we really want a digital format that we have. you think, jim, we have an end to end solution. from the scanner, which your

daughter knows, the time you're scanned all the way to the 3-d printing of those aligners that digital platform is so important. i'm glad you mentioned salesforce moved us to the cloud. we moved our system to the cloud, too end to end digital solution. what's wonderful about this now, too, before these things were nice to have because it's a lot less invasive procedure from an orthodontic to dentist standpoint than with wires and brackets in the market place with the digital solution like this, we put patients and doctors and employees less in harms way. you don't have to visit the doctor's office the most what we were touting before is productivity and good for patients, we see it as a necessity as we come out of this covid world. >> do you think there will be a burst of pent-up demand and do you think dentists have enough p.p.e. to be able to handle it >> we're making p.p.e. for our dentists, too, so we have down

time in our printing labs now. we put together thousands of those things and we're sending out packages to our doctors. we have access to p.p.e., so we think we can help that way i think there will be a surge in demand we've had a really strong balance sheet, jim we had to make any cutbacks. we're leveraging we're prepared for a surge if things come back in that way >> it's important you made a no lay-off pledge if anything you're probably adding people. >> yeah, in fact, we just added 50 salespeople to china. there is some engineering we had to add, too. we're sclekt i have in that sense and responsible. we gear this business to grow 20 to 30% a year. and like i mentioned before, no finished goods, have to be ready to be able to address that demand there's no buffer between you and your patient base and your doctor base. >> between the acquisition and digital work with salesforce, can i take off the table the

idea another company can come in with a knock-off so to speak, and somehow take business away versus where they thought you might have been two, three years ago? >> jim, there are two parts of the equation one is a knock-off the market is vastly penetrated. 300 million patients out there that want this even in the orthodontic segment, 14 million patients, we're penetrate in that sense. demand profile is huge second is how hard it is to do what we do with the digital platform end to end, the scanner, the algorithm, 3-d printing to make that work. i think sometimes on the market they see someone can make a plastic aligner. there is so much behind, so much software, so much technology behind that piece. it's really hard to knock us off. >> i think you put a lot of distance between you and your competitors. joe, great to see you on the show thank you for the no lay-off pledge, it's terrific. >> thanks, jim

thanks for having me >> that's joe hogan, align president and c.e.o. i haven't felt this good about this company in a long time. i neat to see that moat built. i need to see distance between them and everybody else. "mad money" is back after the break.

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♪ ♪ as we wrap up an insane month where the market soared while the real economy cratered, think 30 million jobless claims in the last six weeks. i don't know, as i said at the top of the show, i'd say let's be a little cautious now, look, there have been some generally positive developments that feel like a light at the end of the tunnel. we have the drug that makes covid less devastating we're gradually reopening the economy. the new case numbers have plateaued. and between the fed and the treasury, all kinds of businesses are getting some

assistance they need to stay afloat these are meaningful positives it does president change that we had a gigantic move off the bottom that really encompassed all that good news when you're in a recession, you know what you need to be shouldn't be aggressive. doesn't work you should be defensive and stick with defensive stocks like cpgs as we call them, consumer package goods. these stocks are winners for the year they pulled back in the last couple weeks wall street has gotten more bullish. they're buying oils, buying the arlds, buying the cruise ships i see this as a buying opportunity for the likes of colgate palm olive proctor and kimberly they put up excellent numbers. i have a new one for you, as much of a household name as the rest of them reynolds consumer products if you pull open a drawer -- you open a drawer in my house in the kitchen, there it is, the

reynolds wrap. open underneath the sink, hefty bags disposable cups, i don't use those. they debuted at the end of january. when the pandemic hit the stock rolled over like every stock did. climbing from $24 back up to $32 and change today so could this be a run i think this is exactly the kind of company that should be able to thrive in a tough economy where millions of americans are stuck out of work. and where are they they're at home. on the other hand, the stock rebounded substantially from its lows, this is a new story so there could be hidden pitfalls to make the stock less a taketive we're going to play a belated game, know your ipo. we've interviewed so many people, haven't had a chance to fit this in. that's okay. colgate tomorrow

clorox tomorrow. maybe we need to take a real hard look so we can buy it as consumer package go, annual sales have been stuck at $3 billion the last five years. how about earnings company's net income jumped to 220 million in 2016. earnings recovered to 225 million last year. that's some impressive 28% growth revenues were shrinking. reynolds found ways to cut costs, dramatically boosting its gross margins. wall street likes that you have to remember the last few years have been a slog for most of the industry everybody loves clorox not long ago they were struggling to grow, too. they got aggressive about margin expansion, cutting costs reynolds that's has followed the same trajectory. how about the balance sheet? it used to belong to alcoa

it sold to a private equity firm in 2007. we have to be careful about ipos they paid down a decent chunk with the ipo fortunately none of that debt comes due any time soon. the company uses considerable cash flow to clean up the balance sheet. that's good. it's pretty straightforward. reynolds is the dominant player in every category it competes. 894% in freezer paper. 22% in party cups. when they're not number one, they're number two like in regular garbage bags where their hefty brand has 20% market share, up two full percentage points last year. that kind of share is unheard of in the consumer package goods

sector we've been hearing clorox was fighting for share in trash bags now we know it was reynolds they were fighting. on top of that, reynolds gets 45% of the sales and a quarter of its profits from private label. those are the knock offs, store brand versions of the products people flock to private labels, always have. reynolds wins either way plus, they're the exclusive private label supplier to amazon for this stuff it could be huge in an era where people are increasingly buying household supplies online rather than going to the store. amazon was a miss on the bottom line the top line was extraordinary tonight. let's understand we're not talking about anything wrong with amazon selling reynolds' products best of all this is blissfully indicated. sells roughly 98% of its merchandise in the united states makes it more attractive during the turmoil in the global economy. maybe down the road they have room to expand overseas.

high-quality consumer products tend to be popular in the rest of the world we know barclays has been pounding the table on this one they argued reynolds could have best in class earnings growth in 2020 and 2021. i thought it was convincing. 0 reynolds is perfect for this moment they're all on fire as millions of people are forced to stay at home and cook for themselves as we heard from campbell's soup last night according to nielsen, trash bags are up 16% that's extraordinary food bags 37%. disposable dish wear 8%. aluminum foil is up an astonishing 44%. those are insane growth numbers. obviously not sustainable. but let's take them when we can get them the whole industry is seeing huge volume growth and reynolds has real pricing power reynolds reports next week i expect a phenomenal quarter.

it's priced to tinto the stock r the run. they're not a big innovator. think about the products they make if you believe americans will keep avoiding restaurants until there is a coronavirus vaccine, the growth could hold up through next year. long term let's admit it's not sustainable. second, reynolds has something i don't like a two-tiered ownership structure. it's owned by graham hart. that's a billionaire from new zealand. the guy who runs the private equity firm that took reynolds public remember, this is a leveraged buyout story and those don't have the best track records. yes, we know there's burlington stores, dollar general is one of the best hca. you always have to think about it when it's pe. you're just along for the ride still, i think there is a lot to like and the stock sells for 18

times next year's earnings estimates. clorox reports, proctor 23 times earnings those have much higher dividends, much longer track record reynolds supports 1.9% bottom line given the low valuation versus other competitors, i think reynolds is attractive here. the company reports first quarter out of the gate next week what do you do i like this. i recommend putting on half your position here, and then wait and buy more if it pulls back below $30 after the earnings let's go to daniel in new york daniel >> caller: hello, mr. cramer, daniel from brooklyn, new york my neighbor. i'm in a packaging company reporting in may fundamentals are crucial now in

any investment decision. what do you think of amcor >> i love consistent companies things for food, things for beverage it's a really good company i'm glad you mentioned that to me i should be doing a piece about it in this environment amcor is right. let's go to adam in new york adam >> caller: hey, jim, adam from new york i own aficionado coffee makers in a hotel space i see expansion for them in the grocery and health care -- >> not enough, not enough. i don't want anything to do with food service it's too hard an industry right now. i don't want to touch it all the different food companies i have, anything in food service, it's just not good enough i say no tarik in california. tarik. >> caller: hey, jim, how's it going? terek here from los angeles. >> good to have you on the show. what's going on?

>> caller: calling about cody stock -- >> we're best of breed players we are people who believe in proctor. we believe in kimberly we like clorox if it comes down tomorrow we own that and colgate for the charitable trust not coty please there's a lot i think to like when it comes to the new reynolds, reyn buy some now if it pulls back buy more. watch "mad money" as covid-19 clumps toward the cloud. how is juniper networks holding up i'll talk to the c.e.o all your calls rapid fire in tonight's edition of the lightning round. stay with cramer ♪

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♪ ♪ what does the pandemic mean for the networking equipment space? on the one hand, the emergency stay-at-home economy has been used for the cloud which requires tons of network hardware to run. on the other hand, look, when you have a global recession, come on, companies tend to get a lot more cautious about spending, even for technology. which is it? consider juniper networks. it came back roaring in the 20s. tuesday night the company reported what looked to be a decent quarter and the stock got slammed. while juniper delivered a tiny top and bottom line miss thanks to supply chain challenges, management's guidance -- so many companies have withdrawn their forecast solid is good. stock dropped nearly 4% yesterday before losing another 6.5% today the reason i think juniper is a victim of

high expectations. the stock ran up into the quarter. anything less than perfect was going to be a problem. even after the sell-off, juniper is back to where it was trading two weeks ago. maybe this is a complete round trip be a buying opportunity. let's check in with the c.e.o. of juniper networks. get a better read on the company's quarter and where it's headed welcome to "mad money. great to have you on the show. >> thank you, jim. it's great to be here. >> all right so first, to me you have an almost 4% yield. you surprised to the upside. i'm wondering whether people even in your own -- i have to tell you, even in your own handouts, you talked about how juniper is back. why don't you tell me where juniper went and why you say they're back and how you're doing. >> certainly you know, we have been on a transformation journey over the last year or so and we started to see the results of that

transforce malaysiatran transformation, the focus on cloud, security starting to payoff in q4 q1 was a great quarter from a booking standpoint we saw 10% year over year growth growth across all our regions, and growth in our customer segments what we were impacted by was the global supply chain constraints that make it very difficult for us to build and ship our products but we're slowly but surely working through all those challenges i expect to be close to 100% capacity by the end of this quarter. so by all means, i'm quite proud of the results we delivered in q1 >> also, i think nadella talked about work from home not everyone is a loser. some companies are winners i have to believe this is juniper's time from that respect. >> there is no doubt this pandemic has been a reminder of just how critical the work we do

at juniper -- in many ways, we are the keepers of the global network. we helped to build the internet along with our peers and we're delivering the network technology that's enabling us to move the economy along, to work from home, for our kids to be educated at home, for us to conduct e commerce i've always had a very strong sense of responsibility for the work we do at juniper. i have tosay that sense has gotten even greater as we go through these trying times >> rami, when you go through the handout, i have to admit, i'm a generalist and there is a chart that i said, okay, i'm going to surrender. the contrail sd 1 solution for enterprise branch was a little bit beyond my ken. maybe you can give us an example of a customer we might know and explain how this works for them. >> we're certainly leveraging our terk knowledge angie today

to help those on the front lines of this battle against the virus do their work, to help educate our children a great example of how we're lefr leveraging our technology, a.i. enterprise, essentially a network and solution that drives itself, heals itself, at dartmouth college. a great customer of ours they had to pivot to a complete online education system and they moved 6000 students online in a matter of two weeks. and i don't think they could have done it without the services and solutions that juniper offers them. >> that's incredible i have to believe that it is going to be a problem for so many colleges, and they won't know who to turn to. how did they 0 know know to go juniper? >> this is our strength. we were born as innovators for

high-scale mission critical, highly automated network and college campuses are an ideal environment for juniper to shine. we have over the last year or so been embarking on this strategy to deliver the a.i.-driven enterprise for the next decade we bought a company called mist systems. mist reported a record quarter in the q1 time frame and is precisely because of this cloud delivered ai driven engine i announced on the last earnings call because of missed conjunction with juniper products for switching, we managed to land three new accounts for this offering >> this is a tough time for companies. judging from what i'm hearing from you, you're not going to have to layoff people.

you pledge to keep people? >> we don't plan on laying off any people we saw a great q1, going into q2 was solid. as i mentioned, our booking strength was fantastic we posted 17% year over year growth in the cloud segment, 5% in enterprise, solid switching growth numbers we don't anticipate having to do anything like that >> how about 5g tail wind when we get there >> absolutely. 5g is the next inflection point we're counting on. this is a reminder of how important the global network is. mobility is one of the most important ways in which we connect to that network, and 5g is all around mobile the next increase in mobile connectivity, we offer the network transport, the cloud to

have i.t >> i'm glad you did it on our show thank you. >> thank you >> almost 4% yields. i like what i hear "mad money" is back after the break. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go.

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>> announcer: lightning round is sponsored by td ameritrade ♪ ♪ >> it is time! time for the lightning round >> buy, buy, buy >> sell, sell, sell. [ buzzer ] >> and then the lightning round is over. are you ready, ski daddy sharon in new york sharon >> caller: hi, jim, how are you?

>> good, sharon, how are you >> caller: good, good, everything is well just wanted your thoughts on royal dutch shell. >> royal dutch shell, i remember when they bosted dividend. last night they cut their dividend for the first time since world war ii i say no thank you let's go to p.j. in illinois p.j. >> caller: hi, thank you how are you, mr. cramer? >> p.j., doing fine. how about you? >> caller: i'm good. i just need your valuable voice on a couple of stocks. children's place >> not recommending any retailers other than watch retailers, walmart, amazon, costco, target, and home depot if home depot goes over 200, get it for the charitable trust. let's go to anthony in nevada anthony! >> caller: hey, cramer, got a

big las vegas booyah for you >> i love vegas. i love vegas what's up? >> caller: we love you thank you for everything you and your staff do. >> staff makes me look good every night. i have put on a little weight, but miy shirt wasn't tucked in >> caller: i've been working on extending my position. today they're at $132. should i wait for a pull back? >> i like franco-nevada. i think you have a winner there. if that comes back any more, i would tell you to buy some more. hey, wanda is on the phone from north carolina. wanda! >> caller: hi, jim, thanks for taking my call >> my pleasure >> caller: and thank you for all your guidance especially in these difficult times. what is your opinion on investing in cracker barrel? >> i have always thought cracker

barrel is cheap. in my pre-jimmy chill days i went there for apple pie, you'll love this, slice of cheese love the producer. right now i want to stay away because what's happening is my tie is in my pants here. people aren't driving there as much i'm going to hold back from cracker barrel i like them. how about we go to jake in kentucky jake, jake, jake >> caller: i'm in finance and accounting my friends watch you all the time i want your opinion on -- >> first, sei younger people do watch. it's not just people whatever. [ buzzer ] >> the quarter wasn't that good. if you can get it at 90, i'll tell you that's where you want to go. 94 i think the market is going lower. that may be the way to do it i'm going to dennis in michigan

dennis >> caller: jim, thank you for taking my call >> of course >> caller: much appreciate what you do for us. action alert also. thank you. >> you know we're going to be raising cash >> caller: thank you your thoughts, please on exel. >> going the hole what i, sometimes we look smart and sometimes we look done we love the spec we like the cancer treatment specs, okay? how about we go to trent in florida, please. trent. >> caller: hey, cramer, how's it going, man >> not bad, how about you? >> caller: thanks for taking my call it's been 14 years since i called booyah your way. >> 14 years, holy cow, i did not hear that. >> caller: you look the same i get to watch you every morning now that i'm home. >> trim? >> caller: my question for you is ratheon technology. >> stop, it's almost a 3% yield.

i don't like aerospace right here i do like defense, though. i'd say you get a little bit lower and we're good and that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade ♪ ♪

featuring the emmy award-winning voice remote. all the apps you love, including netflix, prime video, youtube and hulu. and the most 4k content. the best entertainment experience all in one place. ♪ ♪ when you're running a hedge fund you need a strategy that lets you make money in good times and bad. that's the whole point some fund managers are sleuths they go looking for financial

chicanery. some make bets on individual sectors. you buy the hottest stocks on the way up and short the coldest ones on the way down for example, my hedge fund in the late '90s, we owned dot-coms when you do it right you can make a big name when other managers are getting obliterated. i hung up my spurs and went to disney world metaphor cal i retired on a high note and focused on journalism. and run my charitable trust. which brings me to the last few months for the first few weeks of the lockdown, it was a fabulous time for hedge fund managers who were betting against the market the pandemic made many businesses totally uneconomic. so these managers kept pressing their -- working >> sell, sell, sell. >> they make money at 30 bucs.

negative $37 they're going to bleed from the eyeballs at those prices same for the airlines. load factors unheard of. cruise ships restaurants needing to be shuttered. malls closed you know what that's called? it's called shooting fish in a barrel the short sellers couldn't help but make money these companies by nature have a ton of debt. they have cash, but not of enough cash to get through a pandemic without that cash, without access to capital, these companies were doomed. but the shorts forgot one thing. the shorts forgot that there's a federal reserve. you see, fed chairman was determined not to repeat the mistakes of his predecessors they waited too long to take action they were worried about moral hazard first they didn't see it coming at all they thought the economy was fine

>> they know nothing >> they were effectively afraid of awarding bad behavior of banks. this time it got knock to do with it. it's not american airlines' fault people aren't flying there is' very little demand for crude so the fed decided to become a bank, a lender of last resort just like payroll protection helped people keep their jobs all they had to do was say they'd be willing to buy distressed debt. a lot of companies were able to borrow without having to go to the fed. suddenly the fish were replaced by p by paranas one day the fed says, no, they're going to live. we don't really know how to

value them we do know they're worth more than before the fed took action. short sellers initially held out maybe for the airlines, maybe the restaurants. certainly for the retailers. all the haters despise for saying yes, oil stocks, i don't like them but they bottomed. this week, the shorts were overmatched. some hedge funds lost not just the whole year, but their enterprise after the close i saw it happen. the stocks at the bottom, they had to -- prices looked like the best shorts ever, especially the oils here's the thing all the forced buying from short sellers has been the fuel for the rally, and that's terrible fuel the fuel is gone hence that's the reason -- add them to the list of -- [ register ] i don't know the right price for

many asked about this evening. they could be too high thanks to the short squeeze. look at it this way. these stocks are indeed worth owning i saw some prices for cruises. you know what? clean them up, take the vaccine, whatever it will be the fastest vaccine ever developed the cruise lines will head back down why buy battle stocks with strong earnings. forget bottom fishing. it's impossible to value the covid-19 losers unless you're an epidemiologist even then i wouldn't chance it stick with cramer. high pro. low sugar. tastes great! high protein. low sugar. so good. high protein. low sugar. mmm, birthday cake. and try pure protein shakes, with 24 vitamins and minerals. and try pure protein shakes, since 1926, nationwide we've been there in person,

during trying times. today, being on your side means staying home... "nationwide office of customer advocacy." ...but we can still support you and the heroes who are with you. we're giving refunds on auto insurance premiums, assisting customers with financial hardships, and our foundation is contributing millions of dollars to charities helping with covid-19 relief. keeping our promise to be on your side. - we did it!c) (crowd cheering) - [narrator] wherever you start, snhu is where you can finish. (crowd clapping) (crowd cheering) - here we go. - [narrator] and it's it. - [group] yay! - [narrator] you did it, high five! - southern new hampshire university. - [man] that gets a hug. (laughing) - look at that! master's degree, i did it! - i did this for my children. i am very proud of myself. - [narrator] finish your degree at snhu.edu. - [female vo] restaurants are facing a crisis.

and they're counting on your takeout and delivery orders to make it through. grubhub. together we can help save the restaurants we love. ♪ ♪ look, apple was fine, but here's what's going on, i think. let's say the battle, the tiff, whatever with china is really heating up and it's really hurting the semiconductor equipment stocks and by nature i also think it's going to hurt appleby association. the president is just furious about what the chinese have done in his eyes and i've got to tell you, i think that it's the beginning of a new period of very harsh rhetoric between the two countries. i 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 i'll see you torment

"markets in turmoil" with scott wapner is up next. pner good evening i'm scott wapner on day 123 of the coronavirus crisis new information tonight on a key drug to fight the virus as the nation moves closer to reopening. >> stocks are under pressure. >> the best month for stocks since 1987 comes to an end but questions persist about the rally and our ability to stop the virus. >> we found a little piece of the puzzle. >> also tonight -- >> when we take a step forward we don't want to take two steps back. >> one busines