Skip to main content

tv   Mad Money  CNBC  October 7, 2020 6:00pm-7:00pm EDT

6:00 pm
really 20 cents. >> tim is on the phone >> i miss y'all. copper up big 7 1/2% i think goes higher. >> guy >> i have the best st gpofiify t of all i promise to help you find it. "mad money" starts now hey, i am cramer welcome to "mad money. just trying the make some money for my friends call me at 1800-743-cnbc when the president tweets something that causes the stock market to go down.
6:01 pm
sell, sell, sell, sell it is a mistake to sell. this president hates being blamed for lower stock pric pri. the negotiation yesterday, you have a second tweet storm where he reversed himself or offset some of the damage bye, bye, bye! the dow surged 35 points his tweets bring new light into the stimulus talks creating the biggest surge since july and that's not the only certain watch. we know democrats and the house judiciary committee did something big today. they want to break up some big tech it is some of our favorite stocks i am going to defend them. the house is concerned because they think they got monopoly power. we can't get away from
6:02 pm
washington for a minute. let me say flat out. i don't like monopolies. they are bad they cut the heart out of the small and medium size businesses our whole system is based on competition. without it, big business have no incentive to improve are facebook, apple, amazon and alphabet really monopoliemonopos oh, i am not convinced these companies have gotten a lot more powerful. that's because they are creating incredible things. we can't live without them they crushed competitors and ciaed entire industries that are filled with small businesses and look, when it comes to destroying small operators, i got to tell you nothing they have done comes close to the lockdown earlier this year where some businesses were deemed essential and others were pretty much allowed to go under
6:03 pm
the fact that state and local government annoyed costco. the feds did not do enough to bail out more businesses they have not even dreamed of doing. they are competitors they're not apocolyptic. so what is this is really about? it is right there in the preamble if you bother to read it because it is really long we must make our choice. we may have democracy or we may have wealth concentrated in the hands of a few we can't have both
6:04 pm
great advice the government embraced deregulation it is about congress having more control over commerce. some things are just too important to left up to private enterprise he's worried about the role of government and not being strong enough it is a pretty radical break with the status quo. i think it is wrong. i think it is wrong. i am not going to defend them on the basis of laisse-faire. these companies are america's
6:05 pm
national champions every industrials are some version of this. they make the whole country more competitive for the rest of the world. you know there was a time the economics -- 1999, we had packaged food, think heinz, this is what we did back, this! other than this. the united states was pitiful and helpless and giant then along came the internet evolution and the rise of ecommerce and social media and apple, amazon and facebook these companies created richess beyond there is nothing stopping you continue to do just that what about the charges these
6:06 pm
companies are wrecking their competitors. let's start with facebook which is also instagram. can you describe them as a social media monopoly when there is tik-tok and twitter and pinterest and they keep on grabbing users what about small businesses advertising on facebook? are they being bled dry? ga gary vanderchek. he says you should advertise on facebook or instagram. you can argue that's not fair to other advertising platforms. other platforms should get their darn acts together if they want to stay competitive. it is the reasons why many of these small and medium size ads are successful you know what it is like it is like the movie "misery."
6:07 pm
apple, they take a cut of everything that happens on therapy app store. but the apple ecosystem created millions of jobs millions tim cook told the judiciary committee over the community, if apple is a gate keeper, what we have done is open the gate wider. we want to get every app we can on the store access to apple's app store is worth every penny and some they're making their clients fast money could they be doing well if the customers hate it? wake up and smell the darn coffee amazon you know what? i think it is telling that so many retailers use amazon web services rather than going with
6:08 pm
non-competitors google cloud or microsoft azure. some people think you have to be on amazon to get your business going. we got our friends at etsy, that stock never quits. how about spopify? give me a break. on the cloud side, amazon web services cutting its prices rele relentless who are their competitors? when three big companies controlled the entire street, it could manipulate prices. finally alphabet between google search and youtube and google cloud, they are too close to be a monopoly their stocks could go higher the sotp is worth so much more
6:09 pm
i would say bring on the scalpel and the hatchet. waymo, the same argument goes for amazon i say bring it on if you want to buy the stock. bottom line, the time these big tech stocks get hit by some bad headlines is the time you have to buy them. those guys want to come watch "mad money." i could have saved the government fortune regardless who wins the white house next month, they're not going to roll back 40 years of trust. they could argue that they are ournational champions. that's a compelling argument
6:10 pm
it is a thing that can make us money and the thing that can keep us proud. daniel in florida. >> jimbo >> oyoyo >> i want to know about qsr. i have not heard from them i had it in the my portfolio >> they become the one that people don't think of. wendy's is my favorite mcdonald's -- had an amazing quarter. chipotle, gouyou go about 15 bls to chipotle. everyone likes chipotle. i like the bowl, i don't like the chicken. chris in florida >> great to be talking with you. i have been following you since you saved me a ton of money. i appreciate it. thank you. >> thank you, you are welcome.
6:11 pm
>> i want to get your opinion on a company i have been following for several years now. pei. >> yeah, yeah, this stock just had an amaze move, chris i don't know why you know the one that i have been champion of the ultimate power play is plug i am sticking with plug. i am not getting off the plug horse. no, ride them, partner the next time, this is something from washington. why don't you give me a subpoena, all right? more "mad money" tonight i think that senator owes me an apology. i'm siting down the ceo of levi,
6:12 pm
the company hires and covid-19 is cases ticking up across the country. what does it mean? and the nfl, and exact stock, i want to talk to their ceo. stay with us cramer >> don't miss a second of "mad money," follow @jimcramer. send jim an e-mail to madmoney @cnbc.com or give us a call at 1800-743-cnbc. miss something head to madmoneycnbc.com hey, dad!
6:13 pm
hey, son! no dad, it's a video call. you got to move the phone in front of you like... like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most plus $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today.
6:14 pm
don't get mad. get e*trade ♪ you can go your own way ♪ go your own way your wireless. your rules. only xfinity mobile lets you choose shared data, unlimited or a mix of each.
6:15 pm
and switch anytime so you only pay for the data you need. switch and save up to $400 a year on your wireless bill. with the carrier rated #1 in customer satisfaction. call, click, or visit your local xfinity store today. americans are finally buying
6:16 pm
jeans again after about half a year being stuck at home levi's, hoowe are talking about $1 billion sales how do levi do it? they made some major investments. guidance for next quarter was excellent. no wonder the stock trends 5% today. so can it keep climbing? let's check in with the president/ceo of levi strau strausstrauss strauss & co welcome to "mad money. >> good to be with you jim,
6:17 pm
booy booyah how is the pandemic impacting the levi's and are they lasting? >> it is very intuitive, an acceleration of the trends for casualizati casualization. total sales since the pandemic have been depressed. denim shares have stayed very, very strong. there has been a lot of talk about the rise of leisure and everybody is walking around in yoga tights and lounge wear. denim is still bigger. we define denim. we are by the number one brand globally and number one on global basis and number one on women. during the quarter, this casualization, we had dieespite the feedbaact that their total
6:18 pm
revenues are down. women's shorts going up double digits our women's wholesale business grew double digits this past quarter and our women's bottoms grew 15% of the total online growth that we saw this past quarter and our online business is up more than 50%. as a percentage of our business. >> we got to talk about that when we were out there, you talked about personalization, i got my "mad money" jacket on it seems that the pandemic ak s accelerated your plans for what could be done. >> the pandemic compressed five or ten years in a short window the acceleration of ecommerce is one of the beneficiaries we have been focused strategically and very important
6:19 pm
for us and brick and mortar stores we have been investing a lot in ecommerce the last couple of years and billing ouilding out capabilities we put those capabilities into hyper derived arives and roll ot capabilities like ordering online and we shuts our stores which help us manage our inventories. when our stores were closed, the store managers filling e-commerce recordorders order online picks up on curbside a lot of customers are reluctant to go in stores. we had our fastest quarter of growth in e-commerce was 8% of our total business which was more than double this point in time >> wow >> our total digital sales which
6:20 pm
includes amazon and wholesale.com. represented almost a cukwour qu our business i think it is going to be sticky 70% of customers that came to levi.com were first time shoppers on levi.com this is one thing that's going to stick and it may not stick at this level as a percentage of our total business, brick and mortar sales, sales are still depressed. we are going to see our e-commerce business continue to grow last, we are profitable a year ahead scheduled. >> it is fabulous. my associate here, heather gaines, says all the secondhand
6:21 pm
jeans you find are gone. are you guys buying enough jeans because this secondhand is a hit. >> this is big with jen z. they want to go to their thrift shop and buy their jeans there and take their instagram photos. it is a very sustainability and so levi is one of them that industry, secondhand thrifting industry is about $30 million in sales right now it is projected to grow the next couple of years. >> we really are positioning to win this we are now taking back used levi's and we'll give them a gift card for purchasing and we are doing it for jackets and
6:22 pm
jeans and any items. we are recycling it and reselling it creating marketing place for use of levi's. >> this could be great for the holiday season sounds like you are ready for the good holiday season? >> we are. we have been managing our inventory so tightly >> that's a good thing >> shortage is a good thing for a brand. we are chase ing in the number f parts to make sure we do have enough this holiday's season is unlike any holiday we have seen before in a the middle of a pandemic. we are ready and i think holidays is going to start earlier this year.
6:23 pm
amaz amazon's prime days is next week that's going to kickoff the holiday season hopefully it is going to be less promotional in the early days. we'll see. many retailers have closed for thanksgiving including us. that creates revenues and most folks are going to throw that. >> i want to compliment you, we watch the time to vote unbelievable to start this fabulous video urging people going out to vote. congratulations. i would have done a whole show of just about what you did there. you care >> you got to watch "it is time to vote "vi" video. watch his video and go buy one of these
6:24 pm
levi strauss and co. ♪ ♪ ♪ ♪ "hmm's and ahh's" heard in-call. ♪
6:25 pm
working within amazon transportation services, i really saw the challenge of climate change. we want to be sustainable, but when you have a truck covering over 300 miles, or you have flights going hundreds of miles, it's a bit more challenging. we are letting the data guide us to the best solution. it's inspiring to try to solve a problem that no one else has solved. that's super exciting.
6:26 pm
6:27 pm
it is a long time now. that puts the whole season in jeopardy stefan gilmore tested positive he hugged patrick mahomes who just apologized for doing so what's the nfl planning to do to contain this many outbreak they're doing the same thing for
6:28 pm
some of the federal governments. now that the nfl are seeing real cases and not just false positives. let's catch up with dr. john cohen. a senior president of health welcome back to "mad money." >> somethi things are not adding up what's occurring in the world that you see it? >> sure, we just finished 150,000 tests for the nba as they are in their finals with zero percentage rate of covid infection. th that's a different mile. they are in a bubble and no one is going in and out. the nfl has a major, rigorous protoco protocols. they're not in a bubble for all 32 teams we tested for the nfl about
6:29 pm
453,000, almost half a million tests. a couple of players are beginning to test positive i don't think anybody thinks it is unusual i want to address what you have been talking about what you call false positives. it is presumptive positives. these tests are sophisticated and sensitive. sometimes what we do is pick up borderline tests that it could be positive or negative. so what we do is we tell the team that it looks like this player may or may not be positive, hold them out for the next four hours of practice and any exposure and we rerun the test and in variably we call these presumptive positives, it turns out most of them turn negative most of t so another protocol we put in
6:30 pm
place to keep players safe they are not false positives though most of them end up being negative >> one thing i am astonishe astonished -- the titans tested saturday before the game i don't think they tested on saturday i guess we have to wait 14 days. this is day 10 for the titans and two more came up it must be 14 days when you get a bunch of guys on one game you may have to wait two games. >> well, that's right. it depends on what the testing show >> we started out testing the nfl, gone from three days to five days and six days and looks like we'll be testing them every single day for the rest of the season >> the morning of the game, you will start doing it? >> say it again. >> the morning of the game you
6:31 pm
are going to start test sing? >> no, we'll test the morning of the game we won't get that results until the next day we'll have results from the day before for the day of the game >> wow >> so that essentially, when you get into this rhythm that we are in by testing every single day, you have results, as accurate as you can get within the 24-hour period or if not sooner. most of our teams are getting results within the 12-18 hours >> jon do you think they're able to do a whole season >> i think -- the protocol of the nfl have put in place are unbelievably amazing players and staffs are very serious about this they know what they need to do and follow the protocols as best they can as you know they put video cameras in place to make sure they are watching people and
6:32 pm
they do protocols that need to happen they, the players, everybody knows that there is a huge amount of risk you can't be 100% protective in any environment. they're getting pretty close we tested half a million players at this point. the rate is extraordinary low compares to the rest of the population >> when you hear the bedminster fundraiser for the president, oh, the guy tested negative the next day we got titans tested positive on day ten. should we keep our mouth shut? >> i am not going to comment on what they should or should not do if you look at the drugs that the president is using he's on vitamin d. opco has the only drug that's in the market that increases your
6:33 pm
vitamin d. because having to take it externally we entered it in the fda to look if it is effective for our covid patients with vitamin d. we'll see what happens >> i was going to ask you because -- i was e-mailing dr. frost this week and he was telling me the people who died they have deficiency of vitamin d. this is what people should be taking i don't know why people are not talking about it >> they should be talking about that the other drugs are coming in on mar market we won't get the results for the trial for a while. vitamin d. could be very protective >> jim, i hope you are taking 2,000. get in on that test.
6:34 pm
>> dr. jon cohen >> you know we are about to test the new york city public schools. >> oh, that's great. >> good, maybe those schools will open. >> well, we'll do over 100,000 kids, looks like every month or if not every week. better th bett better than the avid >> this is 24-turn around. dr. jon cohen. he knows more about this stuff than any one in the country. doing the nfl and the nba. so many people, "mad money" is back after the break before we talk about tax-smart investing, what's new?
6:35 pm
-well, audrey's expecting... -twins!
6:36 pm
grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans? at fidelity, a change in plans is always part of the plan.
6:37 pm
6:38 pm
thanks to colorgaurd this stock plummeted to 35 two weeks ago it was in the 70s and now it is 108. in addition to coming up with their own covid-19 test. the game changer came in late september. when they rolled out positive data for liquid biopsy test. plus, today vfizer extended
6:39 pm
their agreement. let's talk to conroy welcome back to "mad money." >> it is great to be here. thanks for having us on. we are on track to develop a whole new way for screening for cancer one is from a simple blood drop and i am excited to talk about that to you today. >> you have to you are talkckling things that don't know what to look for. if we catch it early enough, we have a chance to live. it is extraordinary what you are doing. >> chancer is the number two killer of the u.s., 600,000 people a year. most of the cancers are not screened for you find it when they are later stage, chemo therapies and drugs and expensive drugs with bad outcomes the whole goal to change the
6:40 pm
whole way it is treated is to detect it. a simple blood draw can be the answer i am comfortable of what the future going to be it will be different and we'll lead the way >> the false positives and negatives are overwhelming yours is more precise? >> we believe it will be that's why we were excite d of the data we presented weeks ago. 84% of cancer with a false positive rate. that's early date and a lot of work needs to be done. we are the company that has done it before with color guard and you know the story there, there is a lot of doubters along the way and you were not one of them
6:41 pm
>> well, i think you go to talk about what you are doing with this and the breast cancer results are extraordinary. >> the data are early. >> right >> the ability to detect across a range of cancer. that's why today we screen for breast cancer with mamagraphy. believe it or not, three or four out of 100 people over the age of 50 are walking around with cancer they don't know it. and when it presents, it typically presents late stage when it is not treatable so the whole idea here is the power of detection, detecting early. >> there is a really tragic storyabout chadwick boseman wh
6:42 pm
just passed away of cold liston cancer young man. people don't have the awareness they need. that one was really dark he's a young man >> and colon cancer is affecting people much earlier. nobody knows why his story just -- it was so powerful he went years without telling anybody about what he was fighting we want to end that. we want to be able to provide people with access to screening all across the country during a pandemic, you can do a test if you have not been screened, you have to talk to your doctors. and not be embarrassed or ashamed to take care of your own
6:43 pm
health >> i had the colonoscopy it is frightening to go to the hospital right now even if there is only one case of covid. i don't feel safe at a hospital. i certainly don't want to do a colonoscopy if i can do your at-home test >> that's why non invasive screening is so powerful you can get an at-home test if the test is positive then you can get a colonoscopy. at least you are taking control and if you don't get screened and you are detected with colon cancer and most likely is late stage. >> nobody likes to have late stage of cancer.
6:44 pm
>> that's a nice verification. jim, since we announced that partnership, they help us screen 4 poi 4.5 million people it is just a start we want to partner with fvizer to get 40 million people screening. they have been truly amazing at educating doctors. 200,000 nurses have ordered colo cologuard. >> what's your perspective on covid testing? >> you know one of the amazing things in the middle of march, the team came together to develop a covid test to keep our employees and community safe we brought our test up and we tested hundreds of thousands of
6:45 pm
people in all 50 states, i don't know if i have ever been more proud of being apart of a company that's been able to do that. and i have seen that across so many diagnostic company that sprung into action to help out that's the way that we are going to get through this is wearing mask and getting contact tracing. >> a lot of people are skeptic and now me i have a feeling that you be the one. your percentages and numbers, i know it is early make me a believer again kevin conroy always great to see you. >> thanks jim, we won't let you down >> you have not yet. exas "mad money" is back after the break. in some ways, things are kind of the same.
6:46 pm
in other ways, well... any questions? the good news is... we've learned, we can do this. turns out when we're hitting our goals, nobody cares if we're wearing pants. we just need the right tools. so our team, stays a team. so no matter what comes next we can work better do better this is going to work. as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers...
6:47 pm
and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected.
6:48 pm
don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin
6:49 pm
it is time for the lightning round. are you ready? nick in new hampshire. nick >> hey, jim, thank you for taking my call today >> you are so welcome. >> i am curious about weight watcher. no, it is too hard i am going to say no >> let's go to brian in missouri brian. i am a long time fan
6:50 pm
great for you and the service you provide. my mother is a cancer survivor >> wow >> i want to talk to you about the skt. >> the rent paid were better previously i am recommending no malls whatsoever i don want people to get hurt. i need steve in texas. steve! >> such a pleasure to be on your hello. >> aw, thank you, steve. >> i own a variety of dividend stocks and i have been looking at diversications, you really need to have some gold play.
6:51 pm
>> i like ken roinross they're all better than the one you have i am sorry no offense to kinross. i. ed to go to every van in california >> booyah, jim >> one of the largest mos providing to schools and u.s. government, k 12 >> people like k-12. a lot of interests in that stock. makes a lot of sense it is an interesting call that you got there. let's go to eli in new jersey. how is abby? >> booyah, jim >> eagles fan. >> hey, what's going on?
6:52 pm
>> data and analytic alteria is best in the show. i love the new ceo i like that stock. jim in pennsylvania. probably me talking to myself. >> hey, jim. >> greetings. >> what's going on >> my question is about sun run. >> solar energy is a winner >> the president put tariffs on
6:53 pm
the chinese. they're no longer dumping their stuff on us. i like that. our lightning round! >> the lightning round is sponsored by td ameritrade i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. now offering zero commissions on online trades. we charge you less so you have more to invest. ♪
6:54 pm
6:55 pm
i learned it back in law school you always stuck with it thanks to in part of "law and order"
6:56 pm
episodes these rural countries with the government enforcing strict mask wearing to stop the spread of the virus literally mainland china. they just have 5,000 cases there were 11 new cases yesterday. singapore has 5.6 million. they were late to masking, only 840 cases but they had 27 cases. partly because they had great health system. taiwan has 523 cases total seven deaths south korea, fairly big country. they had 24,350 cases.
6:57 pm
114 new cases. the united states has 320 million, we had 7.4 million cases. 2,011 deaths. those numbers speak for themselves masks are a funny thing. they don't really work, they make you look funny. they're supposed to be used in conjunction with social distancing if you get 80% of the population to wear this, it does stop the virus. mainly the government says you got to wear them people listen. they did not tell you, you look
6:58 pm
weak or look funny when you consider the stats of these countries, masks do work the president turned them into a culture war. trump says it is like the flu. you don't wear a mask with a flu. he says he feels great and hey, he says he feels 20 years younger. the president is living on the story right now. i am a huge believer in this thing. unless you are enrolled in clinical trials or the president of the united states, you can't get it when you are the most powerful man in the world, you get world's class healthcare sooner or later the regiment will be available to everyone or
6:59 pm
at least your insurance will be covered. you just file for emergency use approval for the fda once these drugs are approve approved, -- for now, these medicines are not available. if we just embrace masks and social distancing like every other country got covid under control. the goal is not ending up to the hospital with huge bills we are all waiting on that vaccine and there is been a huge amount of structure damage many states are broke, more than 200,000 dead we should have just worn these you look at those countries, border china and they almost beaten covid entirely. even china has it under control. ours is down 34%
7:00 pm
china beaten us. he needs to be able to help, too. they embrace masks and we didn't and now our country is fallen booin behind i'm shepard smith on cnbc, and this is "the news. americans need help. >> there's no other way to say it we are overwhelmed >> on the covid front, infections spiking, hospitalizations increasing in many parts of the country. how some states and cities are doing in the battle against covid-19 businesses hurting people struggling. stimulus talks stalled can financially strapped americans trust the government to deliver the relief they so desperately need next in

122 Views

info Stream Only

Uploaded by TV Archive on