>> dan >> yeah, lyft long using a $34 stop to the downside. >> b.k. >> if you didn't think the money printed was going to go about your before what the fed did today buy some bitcoin and hedge yourself. >> guy. >> bitcoin. >> g. >> twitter. >> "mad money" is up next. 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 just trying to make you some money. my job is not just to entertain you, but to educate you. so call me or tweet me @jim cram cramer this market is the most feast or

famine market i've ever seen either the world is ending or everything is going to be just fine. >> house of pleasure >> no middle ground. problem is, that's a terrible way to invest. have to try to keep a level head, not too negative, not too positive that's how you handle days like today where the average is up and down, big before covering, not only gaining 158 points. s&p climbing .83%. the nasdaq jumping 1.43% down so horribly, wow, let me break it down for you. this morning at 4:00 a.m. this market looks horrendous. down a thousand points why? nobody really knows. we heard it was because of covid spikes and outbreak in china i was watching the tape and it was all about the same, the big declines in royal caribbean, norwegian cruise, carnival, apache, united, continental, southwest, kohl's, everything got crushed last week, everything that always trades before the market opens. why don't we call them unusual

suspects that's the new playbook for all the novice investors who crowded into the market lately the newbies. they see the futures lower, they sell the recovery stock he's just read to you if the futures are higher, they buy them hand over fist. it is almost laughable traders don't know jack because the early morning tape, right, they caused the early morning tape to go down. the job traders cost it to go down newbies who know even less come in and sell this handful of stocks as proxies for the future it is the blind leading the blind. they're treating the market like you bet on a football game let's say my philadelphia eagles play the chicago bears if you see the bears are ahead, you sell the airlines and cruise lines. if you see the eagles flying you buy the same stocks. one giant sports book. there is always been a casino-like aspect to the stock market even a real is casino there are games of skill and chance. play roulette, pure luck but now if you saunter over to the blackjack table, there is an

element of skill too if you know the rules of discipline, you can make the odds 51 in your favor to 49 for the dealer when you trade stocks, you should approach it like blackjack, not roulette. absolutely nothing skillful about selling american air and norwegian cruise when you see the futures headed lower that's what the traders keep doing. they assume down futures mean the down session this is how you lose money now, listen, if you're one of these newby day traders, i'm not trying to ridicule you i'm doing the exact opposite i just want you to leave the roulette table or the slot machines and start playing blackjack, where you can rack up more consistent wins no more games of pure chance, please you're better off with games of skill. i really think, unluike my frien lee cooperman that we can avoid what happened in 2000. we can avoid what happened in 2007 we can do it so just look what happened today. everyone who dumped stocks down 1,000 points earlier this

morning had it dead wrong. forgot this market is less binary than it seems there are 100 stocks in the cramer covid index we know that these 100 stocks, about $20 trillion in wealth, tend to go higher because of the pandemic, would you really sell zoom video if you think we were headed for lockdowns zoom goes, so goes z-scaler and crowd strike and cramer -- if covid cases keep spiking, you should be buying one of those stocks don't hit when the dealer is showing a 6 even if you have just a 15. if we're really afraid of a second wave, the healthcare stocks would be doing much better today i think wall street recognized this virus is way too contagious to be truly contained. we knew the reopening was risky, the numbers started spiking, the averages plummeted last week this was already baked in. now, if there were -- had been a huge spike in cases in new york or new jersey, areas that seem to have the virus contained, that would be unexpected and the

market might take a hit. at the end of the day, stocks rarely go down on the sail thmeg thing. that's too negative. you may have missed the electric move in home builders with the second leg that started with lenner or the news that apple's ecosystem, this came in to me later today, apple's app store ecosystem facilitated a half a trillion dollars in commerce in 2019 2019, that's a long time ago who knows how much 2020 is bringing, especially with the stay-at-home people. got nothing to do. that -- this virus is a monster, it made us afraid to fly, afraid to go to the restaurants, afraid of air conditioning, afraid of staying at a hotel, made any kind of congregation a risk, that's horrendous for many businesses, especially restaurants and retailers. industries that employ millions of people. you have to wonder what the earnings will look like for all the companies that depend on people going to work, going out, and going traveling. i don't think it is going to be pretty that's why you can't afford to

be too positive. it takes a lot of willpower for me to stop myself from going there. the too positive camp believes there will be a break in the pandemic, someone like regeneron will have a treatment that stops covid-19 in its tracks game changer if that happens, stocks will explode higher i believe we are going to have that happen. which is why i keep telling you it is a bad bet to bet against science. lambasted for saying "the new york times," actually one of the smarter things i've said, anyway, sooner or later we're going to get a cure or vaccine, probably both. i've never seen so many drug companies working on a single disease at the same time it is almost every single major player in pharma you got to feel left out if you're not in it it is a powerful contingent. the technology, so much better than it used to be these dayswe use artificial intelligence to rule out compounds that won't work, something that might otherwise take months or years . and that's jens en juang from

nvidia making the chips. i think we'll get there, which is why i can't be too negative i don't know when that will happen you got to go through the clinical trial process, scale up manufacturing and distribute it where it is needed this pandemic will not end until all 7 billion of us are cured. of course many people feel covid is invincible. keeps mutating, creates new -- but we have seen worse regeneron beat ebola, maybe it can beat covid, and even if regeneron's drug doesn't work, there are so many other pharma and biotech companies in the mix, it seems nuts to go all in on the bear thesis that's an informed bet many blackjack terms, king/ace king/ace it is a 10 and a king with the dealer showing -- no, let's put it this way, let's get this -- if we have something good, from regeneron, it is two kings, okay i don't know what covid has. two kings is a real good hand, all right. even if one of them is a

suicide. of course, if we do come up with a cure, all this cramer covid stocks are going to collapse, which is why you need to have a barbell portfolio here with some of the better recovery stocks thrown in. that's blackjack for the cyclicals. plus, put it all together, we're in a tough situation, a number of industries are really struggling it is not the end of the world and eventually one of these pharma or biotech companies will come up with a way to beat it. the bottom line, perspective you ned to keep some perspective. particularly you newbies don't be dismissive of the pandemic it is new and vicious. don't be dismissive of everything our scientists are trying to do to beat this. you got to let yourself be a pessimist and a bit of an optimist at the same time. it is the only way to understand this moment. and newbies, this is for you, i love that you're in stocks, we're going to make you better we are not going to denigrate you, we'll make you smarter. steven in michigan, steven >> caller: boo-yah, jim!

how are you doing? >> doing well, how about you >> caller: not too bad so, just under $7, with the reopening last week, do you see room for seaworld to continue to grow or does that -- >> i would rather buy disney, buy something here and if it goes down 10 more, buy more. disney is for real seaworld, i don't know i mean, i saw -- i miss one of those animals. that animal wasn't treated well. not orca that's a killer whale. you know okay i don't know i felt bad about that. let's -- we'll send -- to walter in north carolina. walter >> caller: boo-yah, jim, from wally in north carolina. >> i like where you are. ibm. it is red hat. what are we saying here? >> caller: thank you for taking my call. i watch your show every night and have for many years.

>> really? >> caller: the coronavirus has ruined the world's economy the past five months and probably will for many more. people must eat and they're beginning to go out now and shop walmart has the best prices in groceries and selection, and other products than any of their competitors. their parking lot is always full the stores are large and accommodate hundreds of customers and -- >> you're probably wondering why did the stock break down i'll give you the answer what happened to all these stocks is that other stores are now open that were closed. so it was like they had no competition, now they have some, so people are freaking out i'm with you i would buy walmart. i would buy something here and buy some later and i'll go to jeff in texas, jeff? >> caller: hey, jim, how you doing? >> i'm having a good day how about you? >> caller: good, thanks. >> yeah. >> caller: my question is about bristol-myers. >> yeah. you know what, this is -- let me

tell you what happened here. my travel trust bought some today. bristol-myers is part of the, hey, we got to sell a company that doesn't do as well as a truck company. because that's what you do when you think the economy is coming back bristol is always the first one to be sold and that's when i buy bristol-myers, dr. giovanni gavario will not let you down. it is a great combo. buy bristol-myers. keep some perspective. be an optimist but be a skeptic, same time. customers are stocking their pantries with campbell's iconic red and white cans of soup i'm talking with the ceo about the resurgence of this 120-year-old brand then, an investment so bad it hurts. i'm eyeing the rental car company and helping you make some sense of the latest equity offering it is a doozy. and do the unknowns surrounding this market continue to make gold appealing place to park

your money i'm eyeing newmont mining to see if it is worth considering stay with cramer don't miss a second of "mad money. follow @jimcramer on twitter have a question, tweet cramer, #madtweets send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. i got an oriole here.

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now that's... simple. easy. awesome. xfinity x1 just got even better with peacock premium included at no additional cost. no strings attached. just say "peacock" into your voice remote to start watching today. not long ago it looked like the packaged food trade was over all over the country, people

stopped stockpiling and investors lost their taste for the pantry stocks. with this spike in covid cases, is it time to circle back to the packaged food stocks and has anybody really left them to begin with take campbell's soup they reported a phenomenal quarter, a big top and bottom line beat. imagine what raising a four year earnings guidance responsibly. campbell's stock fell 6%, trading sideways ever since because of the rotation and recovery stocks. but that rotation ended last week time to cut back let's check in with marc klaas, the president and ceo of campbell soup tork g, so get a sense of how his company is doing. welcome back to "mad money." >> thanks, jim good to be here. >> i have iri, it is tamper proof data, and it shows u.s. dollar consumption and it looks like this is for june 7th, this is not some one time only pantry spike. these -- pepperidge farm cookies, snyders of hanover,

cape cod, kettle, these are all -- campbell's soup up 20%. this is not the kind of stuff that tells me it is over >> no, i think you're right, jim. i think, even if you go deeper down that list, you're going to see some soup numbers that are right around 20% and that is the first week of june, traditionally not the time where you see that kind of growth. but i think the reality is that even though we may be seeing some recovery, and people returning to a little bit more normality, i think the behaviors that were built in this last several months have the real potential to continue to provide a catalyst for improved results. even if the top lines slow a bit or the end market results slow a bit, i think the elevated overall demand is going to continue to provide opportunity for company like ours to continue to connect and meet the needs of consumers. >> yeah, i mean, mark, i think a lot of people discovered that it

wasn't just -- that your soups weren't just filled with preservatives and people like my wife discovered you could take the cream of chicken and make a casserole out of it. that this stuff was ripe for cooking things that you wanted to cook, not just what you wanted to heat up. >> right i think two big trends you're seeing not unlike your wife, her discovery is that, you know, soup plays a very important role in what we call quick scratch cooking. this is taking a couple of simple ingredients, putting them together, and making a meal that you feel good about serving your family and i'm very grateful for all the work that we did on returning focus to the core business before the virus and the crisis hit, it gave us a great foundation to build off of as it related to strong quality messages on our products and also this orientation to usage i think the other component of what has been occurring is a lot

more in home lunch consumption too. and if you think about the role of soup, whether tomato soup or chicken noodle, as it relates to a quick meal, you feel better about what you're getting and even in a moment like this, where it is a little warmer outside, it is a pretty simple and convenient way to meet more of those in home needs. >> are the people in the regions that are unfortunately now suffering through a new wave in the south, is it a stock up right there again? >> well, that's not exactly what we're seeing, though i do think we have to be prepared in a variety of different scenarios and i think for us we are trying to appropriately gauge how demand is ebbing and flowing, but if we're going to err, we want to try to err on the side of having availability little bit of lessons learned from that first push, so although we haven't seen a dramatic shift back into that early pantry loading, we are trying to do the best we can to

be ready for whatever that may -- whatever may unfold here in the next couple of months. >> so i was asking around to people saying, who do you think makes kettle chips who do you think makes cape cod chips? people said, well, some guy, at kettle and some guy at cape cod. that brand has been around they don't know it is yours. do you not want them to know or is that the best way it should be >> you know, it is okay if they don't know what they need to know is how great of a product and equity and quality that is in those products and if they happen to know, they're from pepperidge farm and campbell's, that's great but if they don't, the relationship that we're really building is between that brand and those consumers. >> hard pretzels, it was -- i understand your predecessor, two predecessors ago, hard pretzels, and hanover owns the aisle i know you have to pay too much,

but you deleveraged the point that it is no longer crazy. >> i think we feel good about the addition of that snyders lance portfolio to our snacks business though we may have seen some change in dynamics for where consumer demand has been in the last few months, the one trend that i think is going to continue to move right through it is snacking and if you look at our portfolio on snacking now, we feel great about how differentiated it is we play in a lot of major categories, but we also play with some very differentiated brands so we may be in crackers, but we focus on better for you kids crackers with goldfish even in big categories like pretzels, we got a lot of innovation and opportunity to continue to build in as that leader so that combination of leading positions, being an advantage, segments within large categories, i think sets us up really well to continue to see that trend to progress and as we have been investing back behind

the business and driving innovation, again, even in this moment of unusual circumstances, i'm feeling great about the response and i think that will continue. >> we had mondelez i like mondelez very much. that's a snacking company. what they said is listen, we're a snacking company, you're a snacking company and i snack more on your stuff than i snack on their stuff because i -- i'm a big anti-candy guy you know what i mean >> yeah. i think you know the great news is there are a couple of underlying trends like snacking and better for you i know a lot of discussion of movement to comfort as we were navigating the crisis and i do think we're seeing that hold a little bit longer. there is no question that consumers are going to continue to be health conscious that means transparent ingredient lines, products that bring some per missability, especially to the snacking occasion and we have a really nice lineup to be able to meet those needs.

and as you know, it is 50% of our portfolio now. and so, you know, as we focus this business, i think we really are in a good position to bring an advantage proposition to market both for consumers and for investors. >> i totally agree with you. totally. that's why it was a real break when the stock went down for new people to buy. mark clouse, great to see you, sir. >> thank you, jim. >> this is not the same campbell's soup. you can own this stock, they're doing so many things right and they're going to continue to do things right. it is not just pantry stocking anymore. "mad money" is back after the break. fast few months have been challenging, but in times like these, you can always find somebody going the extra mile to help the people around you do you know someone who has gone above and beyond to uplift their

family, neighbors, or community over the past few months we want to hear their story. go to cnbc.com/homegrown heroes to nominate your homegrown hero. ♪ y-yeah ♪ ♪ yeah ♪ hey, hey try nature's bounty sleep3, a unique tri-layer supplement that calms you, helps you fall asleep faster and stay asleep longer great sleep comes naturally with sleep3. only from nature's bounty. okay, give it a try. between wisdom and curiosity, there's a bridge. between ideas and inspiration, trauma and treatment. gained a couple of more pounds. that's good for the babies. between the moments that make us who we are, and keeping them safe, private and secure,

there's webex. ♪ ♪ beautiful. ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey want to know how crazy this market has gotten? last week we learned that hertz, the bankrupt car rental chain, plans to do something

unprecedented. they're selling $500 million of new stock in their bankrupt company. even though that stock is probably worthless all the regulars, all the authorities, they're letting it happen remember, hertz filed for chapter 11 they have $20 billion in debt, the company is basically being repossessed by the bond holders, why i keep telling you it is insane to own the common stock they don't see a penny until the bond holders are made whole. it seems very unlikely basically hertz is selling shares in the stock that will soon be canceled i would be very surprised if it doesn't go to zero >> the house of pain >> and apparently the company would be surprised too, when you read the s.e.c. filing, they're chr crystal clear. we expect that common stock shareholders would not receive a recovery through any plan unless

the holders of senior claims in interest are paid in full, which requires significant and rapid and currently unanticipated improvement in business conditions to precovid-19 or close to precovid-19 levels. translation, unless the rental car business gets better real fast, real soon, the owners of the common stock will be wiped out. hertz straight up says, quote, there is a significant risk our stock will be worthless. it can't be any clearer than that why in the world would anyone pay roughly two bucks where hertz is currently trading for a piece of paper that is going to be worth nothing in the not too distant future it is simple, i've been thinking about it, mulling it over, thinking about all the thing he's learn about philosophy class and i've come up with it it is because they don't know what they're doing i try to be diplomatic and older statesman on the show. everything that is happening in hertz is being driven by

contingent of novice investors with a desperate craving for single digit stocks. they started crowding into hertz a couple of weeks ago, trading at less than a dollar, traded it up to five bucks last monday i'm sure many people say it has been a successful thing. and, yes, you bought it for a dollar, you're successful, fine. but how insane was this move when hertz filed for bankruptcy and stock plunged from $2.84 to -- not many people want to own stock in a bankrupt company, the stock goes to zero then they issue a totally new stock to the creditors nuts that the traders were able to bid hertz up from 55 cents to more than $5 these are the so-called robin hood traders, robin hood gets a bad name, lots of companies that are like robin hood. but younger investors. i'll call them nubbies fr inewbw on it is somewhat pejorative. the newbies who love speculation, who feel like geniuses, they bought a bunch of cheap stocks in march and april

and wrote off the lows in late may, 34,000 robin hood users owned hertz. they made it the third most popular stock on the platform in the past week. measured by the number of new owners there is so much speculative interest in this thing, it changed the ordinary calculus of bankruptcy hertz saw how the traders were bidding up its stock so they decided to -- all the new found demand taking a buyer beware caveat emterem emptor approach to the market. there is a chance this could save a lot of jobs i like that. as for the judge it not her job to keep worthless stock out of the hands of clueless invest evinvesters. i said hertz continuing to trade is absurd.

this offering is a worthless stock, it takes that absurdity to new heights the s.e.c. should have stopped this, but they have been abdicating its responsibility for ages because of the philosophy -- a philosophy change. they're about laissez-faire. the laissez-faire attitude and i find it painful. they moved to deplace the stock, but hertz appealed when the s.e.c. refuses to do its job, the banks said buyer beware you should probably be aware. that's why i want to lay out the case against owning hertz in more detail because i don't want anyone to get hurt here. if it goes up 25 cents, people say, cramer kept me out of it. that cramer, he's not even growing on me. first off, so sometimes you can make money betting on a bankrupt company as long as we're talking chapter 11, not 7. if all the creditors can be paid off in full, and there is something left over, then the shareholders can get a piece of the new business it has happened. in 2009, bill ackman made a

fortune betting on general growth properties but general growth properties had more assets than liabilities. they had to declare bankruptcy because of the liquidity caused by the financial crisis what are the odds that all of -- all the creditors are made whole here look at all this debt. all ahead of you if you own the common stock look at the bond market. tends to be smarter than the stock market people expect bonds to be fully repaid, those bonds trade close to par, which is genuine wall street gibberish for 100 one glance at this chart shows you they haven't been anywhere near close to par. okay since early march. in fact, hertz unsecured bonds are trading roughly 50 cents a dollar that's 50 cents on the dollar. that's -- let's say up substantially from where they were trading, okay but the bond market still saying

it would take a miracle for the creditors to be made whole again, a pecking order here in bankruptcy shareholders, they're down here, okay got all this stuff ahead of you. remember that. when you buy this common stock if there is nothing left after the bond guys get paid back, the shareholders get nothing my back of the envelope suggests they need to raise $2 billion to get there. they only expect to raise $500 million from the new equity offering if hertz can raise that kind of money, they wouldn't be in this kind of position carl icahn bought a big stake of hertz in 2015. he dumped 55 million shares at 72 cents a piece he knew something about the company. now, maybe you believe the economy is improving so rapidly thanks to the reopen ing that hertz will be able to make a miraculous recovery. that's a mistake too too many of the locations are

near airports. not many people are using them hertz needs a vaccine by april of 2020. so, please, i'm begging you, don't own hertz or any other bankrupt company and don't participate in this looney equity offering. the bottom line, when a company files for a stock offering and selling stock that is worthless, believe them i understand the allure of penny stocks probably some clown that will come in above youand buy the stock and take you out because there is a sucker born every minute you might as well light your money on fire in comparison to own ing the common stock of hertz. that might be a bargain. carlos in california, carlos. >> hi, jim. >> carlos. >> what is your take on pacific gas and electric pg&e >> sometimes things are too hard that requires someone who will really just spend hours and hours and hours on that, we did a lot on hertz but this pg&e, i tried and it is

too -- sometimes you got to own the fact it is too hard. that one is too hard for me. to jose in texas jose >> caller: yo, jimmy chill, how is it going? >> the chill man is good how about you? >> caller: i'm doing great, doing great. so i got a question for you in regards to sig. >> signet, yeah. >> caller: this company recently announced roughly around 384 store closing, mainly underperforming stores in the u.s. and canada. covid caused this stock to just fall off a cliff around february and march. they had a great holiday sale 2019 and strong valentine's day in 2020. is this a buy, sell or -- >> i didn't like that, they were paying a very, very big dividend i'm not crazy about what i regard as being the fact that they had to close so many stores but if they get all the stores closed that she needs to, it is

a buy. she has to walk a fine line, she can't trigger a lot of these covenants to get out of the mall i think she's a survivor i think she's a survivor i think the company is a survivor a simple message for you the people who own hertz, you're really hoping someone is so much dumber than you are. and don't mean to, like, cast aspersions on -- i was trapped in a dumb class for four years it is okay there is nothing wrong with it i was down there, doing my business, you are hoping someone like me when i was in fifth grade is going to come in and take you okay like, a fifth grade jim cramer is looking to buy something that he doesn't know anything about you got to hope i'm out there. don't own hertz. don't own any bankrupt company it is as simple as not lighting your money on fire or having a dumb jim cramer from fifth grade take your money. there is much more -- at a

higher price much more "mad money" ahead. i'm eyeing the lust we are the c luster with the ceo. this is my band. and shopify and etsy, why they have been glorious stocks in the time of covid? it comes down to rent. rent like monopoly. and all your calls rapid fire in tonight's edition of the lightning round. stay with cramer at leaf blowers. you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade

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we...will...never...quit. because they never quit. ever since the pandemic got rolling, i've been recommending gold heavily i've always recommended since show the started, but heavily, because gold is the perfect

insurance against the economic chaos we're experiencing while precious metal is up 14% for the year, it has been stalled for the past couple of months as the economy started reopening and wall street embraced the awaken america trade. what do we do with the best of breed gold miner like newmont, the company created by last year's merger between newmont and goldcorp these guys have world class portfolio of mines scattered across the globe, all really good areas, newmont is the only gold miner in the s&p 500 aside from like the temporary closure of the mine in mexico due to covid, this company has been handling the pandemic pretty darn well. the last quarter was a little light. the stock is up 35% for the year can't ask for more than that can it keep climbing let's think deep with tom palmer, president and ceo of newmont. clear picture of how his company is doing and where gold might be headed mr. palmer, welcome back to "mad money. >> thank you, jim. thank you for having us back again. >> of course okay, so tom, i'm reading your -- the may 20th -- may 12th conference you did at bank of

america. you say there is no change in our strategy, we run the business assuming gold prices at $1200. and we run the business thinking about the business over the long-term. now, gold is clearly much higher than $1200 tell us why you run it as if it is $1200 >> jim, i'm a fourth generation miner. i've grown up, lived and worked in mining communities around the world. and i've seen the price i hold many, many times we ensure we are running the business at the bottom of the price cycle. we run our business $1200, looking to improve margins and extend my life at $1200, and pay a dividend sustainable of $1200. we pay a $1 annualized dividend, we lifted that by 79% earlier this year and we can sustain that dividend at $1200 when you run a business with that rigor and discipline, you

can work through every stock in the commodity that you're in what that provides then for newmont and for investors in newmont is significant leverage to the gold price. for every $100 increase in gold price, above $1200, we generate $400 million of free cash flow every year jim, put that another way, if gold stated its current levels for the next five years, we generate $15 million of free cash flow over that period of time. >> that is fabulous. now, you bought goldcorp one of the reasons why we did sour on goldcorp, sir, was because time and again something would go wrong at their mines. it would be a flood, it would be a fire at one point i said, listen, it is job, i can't take it anymore. there were a bunch of things that happened in some of your mines this quarter it looks like they're -- previous quarter it looks like they're all back in production. you had one closed by covid.

>> yeah, we actually had across our portfolio five mines in care and maintenance through the first and second quarter some due to governments putting restrictions in place. mexico you mentioned earlier with the government restrictions similarly in peru and argentina. up into canada, what we did when we responded to covid was ensure that the health and safety of our workforce and our local community was front and center in every decision that we made and we moved a bunch of people off their operating sites and closed their offices globally. we had at one point 10,000 people across that business globally, working remotely from home to protect their health and safety and couple of instances up in canada, our local community as we engage with them were concerned about their vulnerability to the spread of this infection so we put our operations in the care and maintenance out of respect for them and to protect their health and safety.

through this second quarter, we have been bringing all of those operations back up at a care and maintenance. so second quarter will be low in terms of production costs as we move back out of care and maintenance and we'll hit our stretch in the second half of this year and meet the targets we set for the 2020 calendar year. >> what are they wearing what are they doing to be assured that they don't give covid to each other? >> we have a number of protocols in place they are consistent across every one of our operations globally we put in place social distancing, so we have the separation between people as they're working together, as they're getting meals from a lunch room or a dinner room, when we run our meetings where we start a shift at work, people are separated by that social distance we have screening of people before they come to work we do temperature screening and we have questionnaires about where they have been and we have a very rigorous cleaning regime around our business and ensure that all the surfaces,

accommodation rooms, meeting rooms, cabins and tracks are all cleaned before another person gets on board. it is a very rigorous program that we have -- the same program in australia as mexico and it is working very, very well. we're being able to manage and control the spread very, very well. >> tom, of the areas you're in, i'll tell you one area i'm worried about. i don't know about argentina anymore. if argentina is a failed state, what does it mean for newmont? >> well, we're in a part of argentina very remote part of argentina. we're able to keep our operation up and running very nicely because of that location i have some logistics to manage to get people to and from, but we're able to manage that with a national government support, provincial government support and each local town supporting us as we look to keep our operation up and running it is one of those baskets we

acquired, a fabulous deposit down there in patagonia, southern part of argentina we're excited about the potential of that operation and we're happy to be working in that part of the world we think we can work through some of those constraints and restrictions we have currently. >> in the meantime, nevada is great, huh >> nevada is going well. i think that -- the joint venture we did last year from my perspective, that was something that should have been done years ago. i'm pleased to bring most together and release the value that comes from running those operations together. they benefit shareholders of both newmont and barrett and the communities of northern nevada for us, nevada is just one of a number of world class operations we have in our portfolio nevada, ustralia, ghana and on in mexico and they together form the backbone of newmont's production profile for many years to come.

>> now, i know that nevada is asking for certain -- what i regard as esg provisions i know mexico wants to go very esg. it seems like you have made this something that was -- is a priority versus a lot of the other gold miners? >> yes, jim. newmont, we turned 99 last month. we're in our 100th year. we learned a lot of lessons around how to run gold mines around the world over that period of time that is very much informed our process -- we consider ourselves leaders in esg and i think the way that we were able to manage the response reflects that when you're very clear on your values and understand that putting the health and safety of people above everything else, ensure you're there for the long-term, just to support your workforce, to support those local communities, that puts you in good stead going forward with all of those governments and communities in which we live and

work >> well, you're doing a great job and it has been a terrific stock. since you got there, frankly, since you got there. done a great job that's tom palmer, president and ceo of newmont mining. you know i like gold very much you know i like barrack. i like newmont stick with cramer. >> tonight at 7:00 p.m., as pro sports leagues plan the return, reports of some players testing positive and others pushing back what now plus, one business owner's new challenge inside seattle's autonomous zone. and, a new problem from the virus. blood shortages. how the red cross is dealing with the issue all tonight at 7:00 p.m. with scott wapner (vo) at audi, we design cars that exhilarate with versatility,

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lightning round sponsored by td ameritrade. >> it is time. it is time for the lightning round. the light thing rou the lightning round is over. rob in ohio. >> american power corporation. >> i am concerned. because james is not running anything i got to see the new ceo i love teakman thought he was fantastic went to lockheed martin. luis in south carolina luis >> hi, jim how you doing? >> all right, how you? thank you. >> caller: i wanted to ask you about virgin glaalactic. >> i don't like it you can play that. it is too dangerous game for me. how about chase in texas

chase? >> caller: what's up, chill? >> not much, partner what's going on? >> caller: not a lot shoutout to uncle dave he put me on your show 1194, it is up around 21, $22. what should i do >> sell half tomorrow. i don't like target. to jeremy in arizona jeremy. >> how you doing i was wondering what you think about aurora, hold it for the long run or sell it now? >> enough after aurora i like the canopy, this group is -- short squeeze or not i say exit stage right leore in new york. >> caller: thank you for taking my call. i wanted to ask you about the new stocks in the market, nkla >> i'm going to confide in you i did not get to see the interview. it was done on "fast money." i got to do more work. and i've got to tell you, this

thing is as hot as a pistol. i have to do more work on that stock. jack in ohio jack >> caller: with apple making their own chip, is it going to hurt sky -- >> not at all. they have a fabulous chip. i would buy it pierson in texas pierson? >> caller: how are you >> great for asking. thank you. >> caller: good. i was asking about fuel cell >> good. fuel cell, or sell half of it. that way people who love fuel cell will not bombard my twitter feed tomorrow. and that is the conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade tomorrow, kick off the trading day with "squawk on the street." live from post nine at the nyse. >> and a woman stopped me on the street and said i know you, i

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what happens when millions of individuals and business men can't afford to pay rent we're about to find out. there are already tons of companies that stopped paying

rent so far it hasn't become a huge deal because many commercial landlords insist on three months security deposit when you miss a month or two or three, you just burn through the deposit. but july will be month four. no more security deposit left. and it is not clear which companies will be able to make it that's especially true in the restaurant industry, social distancing can cut your revenues in half. rent is the biggest bogey for small businesses why all the e-commerce companies, etsy, facebook shops, even, by the way, ebay, that's why they have been so good it is why grubhub got a takeover bid. the rent is too darn high. most small businesses will struggle to survive here unless their landlords give them a break. i have yet to hear a single concession from contacts in the industry and there rare a myriad where are people supposed to find work. unless rent is reduced, you'll

see a shocking number of boarded up storefronts you can only put up so many starbucks or chipotles the wave of commercial evictions hasn't hit yet but it is coming so what actually happens when the smaller restaurants and retailers can't pay? we know simon properties, huge mall, already suing the gap. why not? gap has plenty of cash the fact is simon was planning to acquire talbot, another mall owner and they walked away from the deal because talbot is doing so poorly. it can't collect from its tenants. chipotle and starbucks are playing hard ball because they bring in customers and can afford to pay on time. makes sense since there is about to be a ton of vacancies they're the exception. their gain is someone else's pain the biggest false tell i've seen during this period was the reopening of wynn resorts and mgm. the resorts look crowded and seem safe. but wynn had to spend a fortune on safety to make that possible. most restaurants can't adjust,

wynn brought in advisers to rethink the air conditioning system they didn't want the virus getting everywhere through the ventilati ventilation, most bars are trying to put up the dividers and that costs a thousand dollars a piece. for many operators that's too much when the security deposit runs out next month and we have a tsunami of real estate defaults, the pin action will be ugly. mortgage bonds will default. can't pay the mortgage if your tenants aren't paying rent they won't be able to invest into the properties. there will be evictions, many of them, some will be stopped by the government i'm betting most of them get through. what comes after that? i hope it is a vaccine otherwise i'm not sure and i really don't want to find out. stick with cramer. need better sleep?

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thats where i feel normal.s an hour, having an annuity tells me my retirement is protected. protected lifetime income from an annuity can help your retirement plan ride out turbulent times. learn more at protectedincome.org. when rates are going to stay low a long time and a lot of people who don't want to live in cities, that is fantastic news for outfits like lennar and polti. lennar's numbers were fantastic. they with make a fortune in a low interest rate environment and that's what they're doing. they're a nice split 234 in between split between covid and no covid that's a nice place to be. i do like toll i like to say there is always a bull market somewhere and i promise to try to find it for you here on "mad money." i'm jim cramer and i will see you tomorrow!

good evening, i'm scott wapner on day 169 of the coronavirus crisis tonight new doubts about plans for pro sports to get back in business as cases spike in 21 states the comeback of sports suffering setbacks from the hardwood to the baseball diamonds onto the gridiron virus cases still spiking in several states >> we have less than two days to buy our blood. >> the virus causing problems fo