>> final trade, guy adami. >> i can't wait for "top gun maverick" to come out and my sense is this horrific song will make its way into it and i'll watch it despite that fact netflix, look at tha 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 you, but to educate, teach call me 1-800-743-cnbc tweet me @jimcramer. you can always tell when we're due for one of these sell

on the walls check out my twitter feed. see all the ridiculous speculative names people hope i'll mention or pump same deal, no earnings, but right on stocks. these are textbook signs of what we call froth. that's what this is. it's froth and you know what? all the froth got crushed today. dow plunging 517 points, s&p plummeting 117%, nasdaq nose diving 1.55% not bad for an amateur so what's become too riskier let me give you an example last night kind of cool. we had novavax on, hottest stock on the market. vaccine developer working on something for covid-19 the stock runs from 18 to 40 in two days i can't recommend something like that that's this, you know, novavax is this, okay. good guys, but it doesn't matter it actually managed to rally

today. maybe novavax wins the vaccine rate if they don't, the stock is going to get eviscerated i'd rather have you in something that's diversified glaxo, pfizer, j & j same for biotech stocks. anything related to ebola, flu, except regeneron they have little in the way of profits or revenues which is why the stocks are very much at risk for one of these sell offs and they don't come back these stocks are way too hot if you own one of them, remember when the froth gets over the edge or ruins my ferragamo tie, it's time to quit. what else can't be touched the banks. did they look cheap? holy cow, people said do you want value it's the banks i know they have big yields, but this group got shelled today for a reason i want you to look at wells fargo. no, it will hurt your eyes maybe come with some visine or

something. terrific c.e.o., charlie sharp the backing of warren buffett meaningful insider buy boun ti bountiful 90% yield. wrong! it's highly diversified. they don't make much money on the loans right now. they're looking at a lot more defaults ultra low rates means they can't make as much money on your deposits as the stock goes lower i worry something is very wrong here maybe too many businesses are closed that owe money. maybe too much forbearance to customers. especially because of high-ranking fed official talked about cutting dividends. that's all we need to see, right? would you just be like it would be -- [ sound effects >> no thank you. at the end of the day you do not want a credit risk on your -- in your portfolio during a recession or, yeah, let's call it the d word, depression if we

don't open the economy soon. or if we open it too soon and get another covid wave more powerful than the first. sell it. google it. as crazy it as it might sound, i'd rather you own pay pal up 33 cents for the year wells fargo down 58% for the year including a 6% loss in today's session. if pay pal's stock goes down i'd feel confident enough to buy more wells fargo goes down, i'd be terrified. it's not just wells. i read a bunch of stories how pnc sold off its precious stake in black rock. asset manager raising $14 billion. articles say to fund acquisitions in the banking space, shrewd acquisitions the bankers who handled the black rock offering placed 28.8 million shares at $420. black rock stock rocketed back to 485, $65 profit if you got in on that deal but the stock of pnc dropped

more than 3 bucs i think black rock is a better investment than nfl pnc might want to buy. i'm betting they need every penny they can scrape together that's probably why they sold to black rock fed chief powell outlined today, i don't think we'll have a v-shaped recovery which means you can't buy bank stock i don't know if we have a swoosh i don't know if we have one. maybe we get one of these. and then the fed will no doubt begin to question their dividends. oh, we can do it on zoom the airlines might seem tempting with -- i know, this is like actual in person in my set. this is not my home with grease, this is where i live all right. some stocks seem tempting when they're hitting new lows but remember, the airlines -- this is a good example -- they owe the government a fortune their earnings are going to be

terrible people are reluck tabt to fly. more and more office people figure out how to use zoom what really makes me nervous about the airlines one person most at stake and needs the airlines to be in the best shape, one person who needs that, get them to be really jazzed about their business the future, david calhoun, the c.e.o. of boeing he knows who can pay and who isn't doing well and who is. yesterday calhoun went on the today show and said a major u.s. airline will go out of business. he's so negative he's willing to go on network television and predict that one of his prime customers could be a goner who the heck wants to take a chance with a company that might go bankrupt? he didn't specify which one. all the airlines are suspect stocks got slammed even if people can't fly, you can't fly at capacity without

putting people in danger many countries have instituted two-week quarantines from travelers from overseas. that's a vacation buzz kill. calhoun said we'd be lucky if we get back this is the most negative guy i've seen. he's pretty much telling us airlines are toast no wonder mr. buffet bailed on the whole group. lee calhoun did not slam the hotels and he didn't slam the restaurants. he didn't slam the retailers hey, we're okay. you might be tempted by the oils, another thing calhoun didn't slam. the price of crude bottomed at minus $37 a barrel that was pretty much of a low point. i say so what the. the industry is in better shape now that russia and saudi arabia has cut production i can count on one hand the number of oil companies that can turn a profit from $30 to 25 i don't trust any other dividend except chevron

they're slashing distributions left and right speaking of cutting distributions how about real estate investment trust? sold tanger epr properties. they've all done it. tip of iceberg you know what? they cheer when simon property said it's going to pay its dividend the analysts were incredulous. i worry maybe that's not enough. skip the whole group these reits are getting killed because retail is getting killed aside from big box stores, target, home depot and lowe's are throwing dollar general, everyone else is being obliterated. the $3 trillion stimulus package house speaker pelosi told us about last night, the restaurants are too self-serving how about the cyclical smoke stack stocks some are giving signals. amerson reported down 12%.

has his fingers in so many pie, suboptimal caterpillar rolling orders retail sales plummeted 22% in the last two months, 27% drop in north america. ouch in a serious downturn i'm worried about the balance sheets and dividends in the group you know what would save the troubled stocks? bingo, a vaccine yet the possibility much a vaccine seems more remote by the day. officials keep talking about 12 to 18 months they were talking about 12 to 18 months in march. so doesn't that mean 12 to 18 months -- if it was 12 to 18 months in march, shouldn't it be 10 to 16 months? no, they're still talking 12 to 18 months. what is worth owning here in the small universe of what's left? you want stocks that can thrive in a world that looks a lot like today because that's the world we live in that's why i created the cramer covid index a trillion dollars i left out target. put target in, i'll take something else out they've been roaring they all got slammed today

they got hit with the froth. some people thought they were frothy that's okay. they will get unfrothy when it gets unfrothy, good ones get back to being mochaccinos. these sell offs last three days. if a fed governor talks it's four days. or fauci, fed governor, fauci. fauci should be a fed governor anyway, this one started yesterday. i'm betting it improves tomorrow around 2:30 when most of the momentum guys out. that's when the best rallies start with the food stocks, not going to start with the semis. it doesn't start by 2:30, wait until friday again, watch the food stocks watch the drug stocks. then you can slowly start buying your favorite stocks in the cramer covid index because they're the kind of names you can still confidently pick up into weakness. don't buy them all at once because that would be stupid right now that's the best you can ask for.

do a little whipping up here while we get thad in my old home state of pennsylvania. thad >> caller: big-time booyah [ inaudible ] sales are up 10% what do you think about the air handling company >> i thought thad might be in there from the sound the one i like in that group is ratheyon down 3% yield. really inexpensive stock i can't believe it's come down this much, but everybody hates everything and everybody's miserable. it's always tuesday. have you ever noticed? every day's tuesday. anyway, we were due for one of these sell offs. i think things can improve maybe start as early as 2:30 tomorrow we need to get rid of the froth. stop asking about joker stocks

on "mad money," cisco has a report, not a joker stock. as demand increases for smart phones and pc and so your home looks like your office, which one would you consider let's find out how to approach the utilities in this uncertain market. i'm sitting down with the c.e.o. of the utility i pay a fortune to 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. - [announcer] we've all seen it.

the story where the chances are low, and the cost is high. the sacrifice is real. it's all around us. but this isn't a story about how tougher times beat us. this is our comeback story. the time when we rally and come from behind. the time when we defy the odds and get back to work while the whole world watches. yeah, this is your comeback story. and when it's time to come back, we'll be ready.

♪ ♪ got a company to execute in the middle of the toughest environment in decades cisco reported after the close today. coming to this one i have to admit i was a little concerned i didn't know how the huge networking company would be able to cope with the coronavirus-induced slow down. but cisco delivered. company posted higher than expected sales coupled with substantial 8 cent earnings beat their guidance for next quarter came in stronger than anticipated. that's what matters with tech. don't take it from me. the chairman & c.e.o. of cisco, to hear more about the company and where the company is headed, mr. robbins, welcome back to "mad money." >> hey, jim, it's good to be here i hope you're doing well and staying safe >> we're sure trying i hope you and your family are doing the same >> we are. thank you. >> now, let's talk about something that you and i have talked about a lot which is the

idea of the work from home and the gigantic shift that's occurring and how it needs to be executed well and it needs to be secure and you're able to deliver that and scale for the enterprise >> yeah, jim, you know, we went through an unbelievable several-week period in march where virtually the entire world was trying to transition to working from home and obviously a lot of our technology, the networks around the world are holding up great under unbelievable volumes our webex platform is three times the volume today it was in february it was the largest in the world then and a lot of our security portfolio, our vpn technology, our cloud security is all part of helping our customers actually work from home right now. so our teams did an amazing job. i'm incredibly proud of what they've been able to accomplish. frankly, i'm proud of what our customers have been able to accomplish as well because this was no small feat getting done what we did in such a short

period of time >> do you think that what you're doing and the work from home and how it's really taken hold -- of course, your company, 95%, do you think it goes away or do you think it's for real and do you think it can combat for cisco the possible worldwide recession? >> jim, i think it's going to be a hybrid model for people. i think that many companies that aren't used to leveraging this technology to work from home have come to the conclusion they can be productive this way many financial institutions, i've talked to my peers there. they said, i never dreamed we could have 95% of our employees or 98% of our employees at home and be productive. so i think you'll see many employees that will continue to work from home you'll have many that will get back to the office and then you'll have some that will do a little bit of both but i think it will change things like how we think about talent in the future i think this has given us confidence we can hire talent anywhere and have them participate productively on teams regardless of their location i think it will affect how

companies think about their commercial real estate footprint as you and i have talked about and i heard you talk about on the show as well there are a lot of things we're going to figure out in the next 6 to 12 months >> let's extrapolate for webex is the enterprise -- you're an enterprise company you know because you know me i do my bougie brunch with my family i don't care if they have servers in china it's not going to impact anything i say with the companies you do business with be concerned about servers in china which we know zoom has >> look, jim, right now with webex, we built it with security at its core from the beginning and our customers, given every bit of the work they're doing is happening over this platform, they're having confidential discussions. they're sharing intellectual property there are certainly things that are very important to not be exposed outside of their four walls of their virtual company so i think it does matter.

it is very important we have worked with many companies around the globe to help white glove their board meetings that are all happening on webex these days. it is important and it does matter we had well over 500 million meeting attendees last month, just in april alone. and so the platform has really scaled we made huge investments to get it to where it is and i'm proud of what the team's accomplished. >> speakingof proud, i'm proud to know you. you donated -- this is not small, it's not p.p.e., not gowns. $300 million to the global pandemic effort, but you also had people be very creative at your company to help the front-line people. i think it's worth noting because they're not just writing checks you're great, we want checks, but they're doing other stuff, too. >> we did write a lot of checks, but, you know, our employees have such an incredible sense of compassion and when you tie that to the innovative spirit, they do

incredible things. we had teams around the world that were 3-d printing surgical shields and delivering them, i think in mid april we were delivering a thousand a week out of our san jose office this started in europe and we stole the idea and brought it back here. we realized we had video units on our desktop -- our decks inside our offices and no one was there using them so we took them out all around the world and delivered them to hospitals so nurses could do virtual patient intake so they didn't have to get close to these patients who potentially had covid-19 so they wouldn't be exposed. and we had customers tell us how our technology was used. incredibly sad situation, but where people could actually have the last communication with a family member over webex or over one of these video units we installed. so our teams were in the midst of everything. we were installing cloud networking and the hospitals in wuhan back in december we've been at this for a while

and our teams have huge hearts and have been in the middle of trying to help those heroic first-line health care workers who are the real heroes in this whole situation. >> now, with the health care -- obviously it's worldwide with this health care situation, how do you keep your people safe you have to have people everywhere >> well, our employees -- it's certainly the first thing we care about we were one of the first companies to work from home. it was a natural motion for us, so it was easier and we had the technology because we built the technology. so it was much easier for us t do that. we have -- we've cleared worked with all of our employees on providing them access to the best medical care in the case that they're sick or their family members are sick. as we think about returning to office, we'll continue to keep their safety as our number one priority that is the most important thing to us and it's going to remain that way >> when you have something like this, an emergency, you're giving money away and all these people all over the place, how

come your gross margins were able to be stronger than wall street thought >> i think that, you know, you look at what our teams have accomplished and our guys have always run a great business. our supply chain team, engineering teams are constantly working on value engineering we've been working on pricing. it's just a great team effort. and, look, in the future i think there could potentially be stress we've obviously had the benefit from memory you and i talked about for a while that probably begins to wane the next few quarters for years there's been concern over our gross margins and the teams have always been able to just continue making changes and doing the hard work. and that's what it takes, it takes a lot of hard work to keep them where they are. not to mention the software transition because we need that as well. >> you talk about how much of your software has become subscription, and it's up 9% year over year which is terrific as a percentage of the whole it was hard to find that in the deck how much of the percentage of the whole -- that matters for

future earnings obviously because it really does impact in a positive way >> jim, if you go back to our analyst conference a little over three years ago, we said by the end of this fiscal year we would have 30% of our revenue coming from software and we'd have 50% coming from software and services we're well on track to make that happen the teams have done increditbly well we continue to execute on our sass programs, networking products, we're the first company that's ever done that. it's been complicated. we have a lot more work to do, but i'm really pleased with what the teams have accomplished so far and we're going to continue to push in that direction. >> well, chuck,s congratulations on delivering and raising guidance which few have done more importantly congratulations to you and your team for doing the right thing at all times really impressive. >> thank you, jim. >> that's chairman & c.e.o. of cisco. look, it's going to be an up stock and a not great tape take a look at it. "mad money" is back after the break.

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♪ ♪ at the top of the show i talked about we have to -- the market with an ugly term, we need to keep buying into weakness whether or not we can successfully reopen the economy. stocks that do better because we

don't know what the results of this reopening is going to bring us that's why tonight we're going off the charts with bob, the founder of explosive options.net as well as being the brilliant technician in the duo street.com high quality semiconductor names, think nvidia and qualcomm they thrive during a stay-at-home economy two that work when everyone is stuck at home. qualcomm is essential to 5g build out, something we desperately need the internet is the only place we can congregate, it won't look like this any more when you're talking. see that i mean, you're always stuck in the worst most hideous position. fabrizio, you have to wear a lot of makeup.

nvidia, amd and qualcomm got obliterated when the market crashed. panic sellers made no effort to differentiate between winners and losers, kind of like what's happening now. they threw the proverbial baby out with the bath water. since then the semiconductor names have come back after the one-two punch of dr. fauci telling us it will be dangerous to reopen the economy too quickly. he could be right. and fed chair powell sake it will be long they are on the opposite side of the president. which brings us to bob wine's key observation, they can keep rallying longer than people expect even if they have been temporarily interrupted. let's start with the daily chart of total cramer fave nvidia. yes, nvidia, my dog, is now 13 years old and has got arthritis, just doesn't look so good so just be aware. anyway, nvidia the stock broke out in april

langone said it has a lot of power. boy, do we ever love that. how about just yesterday nvidia hit an all-time high remember, the market came down, most stocks did not do that. that's really good, this one first there is the cloud, green stuff, combines a bunch of moving averages. gives you a one-glance read on the situation. painting a pretty bullish picture. right now the cloud is green trending higher and it's expanding. those are three things you want to see from that indicator there is average moving to convergence. important momentum, tells you when it's supposed to happen made a bullish cross over where the black line goes above the red one, okay. that's one of the most reliable buy signals out there. boom don't want this to go back down. third, there's one we never talk about. called the adx, the average directional index, measures the strength of a given trend.

the adx just made a bullish cross-over we're looking at adx, okay, right there. it keeps trending higher that's another positive sign the only fly in the ointment, nvidia has a ceiling resistance above ten points that's where the stock is trading. it could get boxed right there above ten, but it could jump that hurdle and the stock could have a lot more up side which is really incredible. but this may be the best company in tech right now. they really may be all right, anyway, put it all together,er langone thinks nvidia has the prettiest chart they own it for the trifecta newsletter i think he's right that's why we own it for my charitable trust you can follow along by joining action alert.com club. i talk about this at our monthly conference call tomorrow at 11:30. it is textbook of what you can own in this environment. all right. now, what about nvidia's weekly

chart? let's look at a little longer time frame on a longer term look lang says this is incredibly strong. there is a distribution line at the bottom, the ad line. which tells you where institutional managers are trying to sell or dump it. in march it showed power which is really incredible looking good meanwhile, the weekly cloud once again, good shape. mack d. just made a bullish cross over taking everything into consideration, lang believes nvidia could make a run at 400 by year-end. even more bullish than i am. next up, check out lisa sue's chart. yes, this is amd, she's the see y c.e.o. this is the daily. it has an inverse head and shoulder pattern how much do we love that that's always a reliable sign up

side it actually may be the most reliable bullish formation in the book it's interesting you spotted that because i didn't see it immediately. i thought it was too much like -- this was too low, but he's got to go on top of that the mack d. indicator make a bullish cross over he's anticipating it i usually don't like to do that. i usually wait to see it but he's anticipating. since the bottom amd has made a pattern of higher highs and higher lows. it turns out to be a buying opportunity as i told you it would. over the last couple days amd fell from 56 to 52 looking ugly lang sees it as an entry point he's betting it's a clear shot to the mid 60s that's pretty positive, too. i know a lot of you like that stock. finally there is the daily chart of qualcomm not talked about enough as lang sees it, this is a textbook picture of a break out waiting to happen. now, this is really interesting. a lot of people left this one for dead

qualcomm is currently at 78. it has 3 and change yield. resistant at 82. the stock could burst through that ceiling and break out of this triangle pattern he sees which would be typical he thinks it's up, up and away at higher levels this did trade at higher levels at one point lang is betting on this. his reasoning? aside from the fundamentals of the wireless technology play lang is feeling confident about the chart. trends are positive. should we look at some volume? okay see a break out on bigger volume there. relative strength index is another momentum index very steep upward slope. still nowhere being overbought the cloud recently turned green, it's now expanding, another positive i like that. while qualcomm is pulling back again today, but not that much, since the bottom in march every dip in this thing hasbeen a fantastic buying opportunity again, it's 5g if the stock can break out above

82, lang believes it can make a run for its old highs in the mid 90s. i am with him on this. and when he did the work on it, i was thinking, wow, how many more semis can we own for the action alert portfolio bottom line, in a market rolling over after an epic rebound from the lows, we need to circle the wagons for quality stocks we can buy into this new found weakness they'll be able to make a comeback even if the economy doesn't and even if the market keeps going lower. nvidia, amd, qualcomm, bob lang says all three could have a lot more room to run i may be a little more negative than him i think this could have a little downside, but then i'm with him. i think we should take some questions. let's go to jeff in arizona. jeff >> caller: hey, jim. thanks for taking my call. >> of course >> caller: my wife and i want to start by thanking you for saving us in the fall of 2008 we heeded your wise advice to cover our expenses for the year.

it got us through the financial crisis >> man, i'm so glad. i know that was a widely criticized call, as all the good ones often have. but you know what, thank you i've glad you remember it. we dodged 46%. what's going on? >> caller: well, my wife and i have a modest position in ame i ameriprise financial we took your advice and read through the earnings transcript. it looked like they had terrific earnings they're in a good cash position. the outlook looks good for the future they did suspend the buyback the price-to-earnings ratio is like at 5, jim i know it's probably because it's in the financial industry they did increase the dividend the 15th year in a row we're looking for your opinion on whether -- >> i think it's being hurt by low rates. it sells at 7 times earnings i don't like the financials. we sold almost every financial for my charitable trust, almost

every one. this would be one i guess is a keeper because it's just so inexpensive. but beware, i think the financials are not good in general. i like fintech the financials are tough time to circle back to high-quality stocks that could do well and these are growth stocks, by the way, even if the economy doesn't open back up and that's qualcomm, amd and nvidia, all right. much more "mad money," including my exclusive with pse & g. how is the company doing with demand and how is the company dealing with covid then cruise lines continue to show buoyancy despite the uncertainty. i'll explain how and why and all 'calls rapid fire in tonight's edition of lightning round so stay with cramer.

♪

♪ in a normal slow down, what do we do, buy some high-quality utilities. nice consistent companies, big dividends, what's not to like? this slow down is different. with vast swaths of the economy shutdown, there is substantially less demand for power which puts real pressure on utilities the public service enterprise group, a power and transmission business in the northeast, mid-atlantic, a lot of jersey. last week pse & g reported a mixed quarter, enough cost savings to have modest earnings. management talked about a 5 to 7% reduction in electric oad of course, thanks to covid-19. the stock pulled back from 54 to 45 over the past few weeks, including 4% decline now, at these levels, it gives you a bountiful 4.4% yield so, has it been punished enough? let's take a closer look with ralph izzo, the chairman &

c.e.o. of public service enterprise group to get a better sense of how the company is holding up mr. izzo, welcome to "mad money. >> thanks, jim, for being here thank you for the invitation >> sir, to have a 5 to 7% decline -- that's the normal in electric load -- is pretty incredible i have to believe most of the people in our area are working from home. >> well, they are. so, remember, now, that's a decline in sales volume. it's not same as decline in margin we're better insulated from a margin decline because our residential customers are using more than our commercial and industrial who are using a little less. >> so is the arbitrage positive for pse & g >> not on a net basis. it's not as negative as the 5 to 7% would suggest we've only had one month of data we're fortune in new jersey. we don't have automated meter

reading so we haven't given out details on the trade-off between customer groups until we get another cycle of information >> i know you're passionate about the environment. i will say that i have never seen so much wildlife in our area i didn't know it existed i thought it all had been extinct. it's earth day 50th anniversary. your company is very committed to the environment >> we are, jim and actually, i've seen some wild turkey in the backyard. >> yes, that's what i was talking about. like flying right at me. >> you know, if there's one thing that maybe copvid-19 has shown us, it's the association of worldwide challenges. i think the biggest worldwide challenge we face and have yet to fully face it is climate change so we have a fully integrated five-part plan that begins with energy efficiency, renewable energy, preservation of nuclear, getting a price on carbon and electrifying the economy as a

way to make sure we stem off the worst changes in climate change in the future. >> do you think we'll ever build another nuclear power plant? the salem plant is a great plant. i've been pro nuke forever it seems too hard to build in this country it's the cleanest power in the world. >> as you know, there is a company, southern company that's building a new nuclear plant they're a fully regulated business i don't think you'll see a large nuclear plant built by a competitive business such as ours there is a chance that small modular reactors in the future could get built. but even that would require some recognition that carbon costs money to emit and therefore the need for price -- >> would you prefer offshore wind as you mention in your conference call? >> well, so, offshore wind is less expensive than the new nuclear plant is today but i'm telling you, the cheapest thing we could do, by far the cheapest thing we could do to help mitigate against climate change is energy

efficiency offshore wind in new jersey, its first tranche is going to be about $98 per megawatt hour that's against the current price of $20 per megawatt hour it's expensive but energy efficiency can be done by reducing the customer bill >> i have a place in summit and place in ocean grove you know these areas of new jersey we do have outages, sir, and you know that. i'm worried about hurricane season and i'm worried about covid. i'm worried if you're going to have enough people to be able to fix the outages. >> well, you should be worried about that i'm worried about that, too, probably more than you are we have enough people from the point much view of our employees. we're actually not doing a -- our employees are doing a terrific job staying healthy as you know, during a major storm, we don't rely only on our own people we have to rely on people from other utilities and other contractors who are not north

koreaed contractors who are not affected by that particular storm we have to remove personnel and remove them from possible covid-19 our outage restoration times will be longer than customers are accustomed to. >> at the same time for the work at home, you say the customer service is pretty darn good. it almost made me feel like everybody should be staying at home all the time. >> i'm always in awe of what our employees are able to do but that's true. our call center statistics have improved with people working from home. that's a little unfair because we were one of the first if not the first utility to promise to not shut any customers off so we're not getting some of the call volume that we would normally get because we're not getting bill disputes or customers asking us to restore power. we haven't had a major storm so call volumes are down in general. that doesn't take away from the fact our employees are doing a great job. >> i know you have more in new jersey

do you think that the governor is being too slow in opening jersey or is it the right pace as far as you're concerned >> i think he's on the right pace every jurisdiction that's opened up prematurely has had a second spike. look at what happened in south korea last week. one 29-year-old decides to go to five different restaurants or night clubs in one evening, and then 2100 bars and restaurants have to re-close you heard dr. fauci yesterday, that if we open too early, not only are there health consequence, but there will be ramifications for the economy yet again. maybe worse than what we're experiencing now i think the governors are doing a stellar job and he's on the right pace >> excellent >> by the way, i would be remiss if i didn't say thank you to all the health care providers doing yoeman's work and extend my condolences to those affected by this horrible, horrible virus. >> they are amazing.

first time, mike rizzo, public service enterprise group "mad money" is back after the break. there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us.

>> announcer: lightning round is sponsored by td ameritrade ♪ ♪ >> it is time! it's time for the lightning round. >> buy, buy, buy buy, buy, buy. [ buzzer ] >> then the lightning round is over are you ready, ski daddy john in florida. john >> caller: thanks for taking my call >> of course >> caller: i haven't heard you talk about eaton corporation >> it's a good company, had a

very good run. it's the signed of cyclical i don't want people in because you don't buy that stock going into a recession/depression randy in wisconsin randy. >> caller: yes, thank you for taking my call, jim. i want to know about the dollar store here on revolve. >> i have been recommending revolve and i've been eviscerated by it. they did a good quarter, they did it tonight after the bell. i've got to tell you i think there is going to be more momentum and their business model is good. i feel vindicated somewhat scott in florida scott! >> caller: jim, you are the best thank you for everything you do for us investors >> thank you very much thank you. >> caller: my question is what is your opinion on hewlett-packard? >> well, there's hpe, the enterprise i think is a sell and then hpq, which is the guy

who makes the desktop, laptop, i think is okay. but i also want to thank you for the kind words we had dave tapper on "squawk" -- on halftime money, what the heck, with scott wapner, and he's a really great investor and dan druckemiller is a great investor i am a watcher at this point greg in tennessee. greg >> caller: good day, mr. cramer. >> how are you >> caller: very well, thanks spoken to you a couple times in the past it's always a pleasure >> thank you, thank you. >> caller: today my question is about bank stocks in general and key corporation in particular. >> key is a great company, sir, but that 7.6% yield tells me that the fed -- somebody is going to say, listen -- [ buzzer ] -- we have to preserve capital in the banks this is a company that lends to a lot of little business i the businesses are why we have p.p.p. and it's not saving them

enough we need another 3 trillion, and that's why i think the stock is as low as it is. let's go to kathy in pennsylvania kathy. >> caller: hey, booyah, jim. long time first time >> excellent >> caller: excellent i'm calling you from everybody's hometown of media, pennsylvania, outside of philadelphia, go birds. jim, i'm interested in a stock that is on your very often covid-19 invest, but i wonder if i missed the boat with shopify >> oh, man, shopify was up today. it's a canadian company, largest market cap in canada i want you to wait even though i think they're terrific that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade and you're technically a genius... and it appears you're quite the investor. i like to trade. well, td ameritrade has pros ready if you need help, say talking through a new strategy... ... just in case things, you know, get a little rocky?

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♪ ♪ after two of these days in a row, it's important to remember why this market has been so many weeks going higher even if we got ahead of ourselves, there are legitimate reasons to feel more constructive because some constructive things happened they were actually pretty amazing. instead of the worst hit industries in the earth, cruise lines, their ships are seen as being petri dishes for the coronavirus. they're right at the heart of the covid-19 blast zone. and yet -- and yet today royal caribbean announced the $3.3 billion offering, out four and five years, backed by 28 of its ships.

it's a private deal. we don't know who the buyers are. that money, though, lets them repay a $2.3 billion, 364 day term it seems crazy they're willing to lend them money, but they are. we're seeing a resurgence in bookings for next year for cruises. probably because the companies are giving great deals in order to woo people back what matters to me is tons of people seem willing to take them up on the offer. seems risky. then again you'll never be able to get a cruise this cheap take a look at prices. you'll regret booking one. look, they're the last of the big three cruises that needed capital. last week norwegian cruise line holdings which had the great of the track record sold shares at $11. the stock was 55 before the pandemic 11 a heck of a lot better than zero

norwegian had to raise 862 million, 6% exchangeable notes, share price 13.75. stock is at $10 level. you got a good deal when they flipped the shares the c.e.o. told us bookings were nicely ahead of last year at this time. i'm less worried about demand. it's clearly there more worried about when governments around the world will let these companies do business because people do love to cruise. finally there's the company at the epicenter of the outbreak, carnival many people consider this company as the super spreading conglomeration of hospital ships. it's unfair, has really strong customer loyalty carnival had a daunting task it needed $6 billion to stay afloat seemed impossible until the federal reserve announced it would buy distressed corporate bonds. that was an implicit backstop for companies like carnival, that would be okay as long as they could secure short-term financing. after that they raised 4

billion, 11.5% first priority senior notes that coupon makes me wince 11.75 billion and .75 convertible notes in 2023. they sold shares at 8 bucs down from 50 where the stock was trading before the princess line got infected the fed has president taken action they wouldn't have been able to raise money they needed. once that happened they were able to borrow the money as for the secondary of carnival, that stock was sinking like the titanic at $8 a stock, the saudi wealth fund stepped in, they're up 50%, you could have been, too, had you been brave enough to buy it at 8 not just cruise lines. boeing was able to raise 25 billion from the private markets. that's the most important fund-raiser this year. if anything, i think they're too risky. but the downside seems tapped for now. they're not going to zero and that makes a huge difference because that's exactly what

probably would have happened if the fed had not intervened stick with stay with cramer. e f. surprise! we renovated the guest room, so you can live with us. i'm good at my condo. well planned, well invested, well protected. voya. be confident to and through retirement.

confident financial plans, calming financial plans, complete financial plans. they're all possible with a cfp® professional. find yours at letsmakeaplan.org. truly transformative sleep. so, no more tossing and turning. because only tempur-pedic adapts and responds to your body... ...so you get deep, uninterrupted sleep. during the tempur-pedic summer of sleep, all tempur-pedic mattresses are on sale! remember, it's not bullish or bearish i gave you a whole group of stocks i wouldn't want you to touch that represent pretty much a majority of the markets. then there's another group i'm okay with. and you know what it is. 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 and i'll see you tomorrow. "markets in turmoil" with scott wapner is coming up next

good evening i'm scott wapner stocks tank on fears the market is overvalued and the market will take longer to recover. >> it's one of the most overvalued markets, maybe the second overvalued i have ever seen. >> david tepper, the man that moves markets, strikes again. >> we have seeing attacks on research into covid related matters. >> the warning china's coming