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tv   Mad Money  CNBC  June 16, 2021 6:00pm-7:00pm EDT

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volatility on all the asset classes. >> mr. seymour. >> well hit today two and half year highs before pulling back, chevron. >> and mr. grasso? >> everybody's worried about rates going higher, i don't see them going highe my mission is simple, to make you money i'm here to level the playing field fur aor 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, just trying to make you money. my job is not just to entertain, but educate and teach and put it in context call me at 1-800-743-cnbc or tweet me @jimcramer. dow slipping 206 points, s&p
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losing 4.5% and nasdaq declining. what did you expect? i'm not surprised by what happened today i'm surprised that other people are surprised. that's my take on what the federal reserve did today. jay paowell didn't lower the boo on the stock market but acknowledged what you and i know already. getting better a lot of stimulus around it's not good enough because too many people are being left behind, especially african-americans. interest rates need to stay low but not so low they dive up prices too much too quickly. inflation is a good deal to get a lot more people hired. we've got some shortages right now for certain things you'll hear about that later tonight. powell knows he can't stop those shortages without throwing millions of people out of work which is a pretty severe solution for a problem that will ultimately solve itself and emphasis on ultimately but sometimes common sense shocks
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pe people what is the fed chairman supposed to be ochoh oblivious when the fed pencils in the rate hikes of 2023 they are saying we have a good economy and stays this way, good maybe we have to tighten in a couple all right. we'll do it. here is the irony. if powell had said and i quote we don't see strength, we're worried about unemployment and there are no shortages end quote people would be freaking out because it would look like the fed chief lost his mind and if on the other hand he said the economy is over heating and time to raise interest rates, that would have made him oblivious and oblivious fed leads to lower
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stock prices fortunately unlike his critics, powell knows what he's doing the sense is a watershed powell left himself a lot of flexibility and said we're a ways away from taking action, quote, but making progress, end quote. i don't know why that surprised people if you thought we weren't making progress toward full employment, i have only one question what are you smoking maybe you should give the guys at mind med a call because you're hitting the psychodelics too hard and if you thought we were making too much progress, you're living in a hawkish land. how do you adjust your port follow first, earlier this week i highlighted work from larry williams, he warned us of a late june swoon guess what on monday if you're nimble and like to trade, you can take
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something off the table as long as you're ready to buy it back before the end of next week. the charts say don't buy and i give them more weight than the spots and dots everyone is obsessing from from the fed. i took that course and aced it second, the fed basically did nothing today except take itself out of the equation for the next six months that was it. that means you should buy stocks that can deliver better than expected earnings in a low rate environment. reporters are trying to get powell to commit to a silly timeline and probably not stop inflation. he's not playing that game, though he wants people to make a little for money. who said wage inflation was bad? most people except ceos are under paid he knows there are imbalances in the economy, shortages because business didn't realize we beat the pandemic this quickly and there is a huge amount of stimulus but as powell said and i quote, there is a big group of
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unemployed people and he doesn't want to leave them behind and the useful idiots in the media want higher rates. these inflation rates have been wrong. he nearly wrecked the economy before he changed course and we have some inflation but the hawks don't have any credibility in my eyes i know some reporters will look at today's negative action and jump to the conclusion that the fed is getting ready to take away the punch bowl. couldn't be more wrong powell knows demand for goods is high and people are spending without taking down a lot of debt those are good he thinks the sources of inflation could abate on their own and stimulus running out and red abatement is winding down, covid going away so he would rather wait and see that than start tightening you know what he's doing there is a word for it
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it's called prudence i like prudence. especially when it comes to your money. i think there are a lot of grizzled financial veterans that can't believe their eyes because they're so used to the fed operating in a completely different way. powell doesn't want to operate that way anymore he thinks we can have strong job growth and strong spending without causing too much inflation, something by the way we didn't see in 2019. in other words, powell believes we can have key lime pie and a descent size but not too big piece, smaller piece if that's the case, then i think you should simply stay the course maybe using this decline to buy high quality stocks especially industrials right into the teeth of the downturn we anticipated here with the help of larry wil williams with the fed taking itself out of the equation, the industrials have more room to run. i include the technology stocks with the industrials the problem now is that the experts from the economies to the reporters that follow the fed to the hedge fund managers that trade the fed's moves, they just can't seem to grasp that
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jay powell just isn't one of them never mind that he was a private equity guy he's like no other fed chief i can recall powell actually learns from his mistakes in 2018 he listened to the inflation hawks and spoke about the need for three rate hikes that blew up in his face since then he's approached his job with a sense of humility he reiterated that today he knows it's hard to predict what the economy will do so he wants to err on the side of a strong labor market. yet, powell is different he isn't the tin man fed chief like his predecessor he has a heart. they are used to fed chiefs who say the economy is getting real good let's make it really bad let's hurt the working man powell just won't do that. from my whole adult life that had a zero tolerance policy towards inflation but if you elevate unemployment as a
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necessary evil, powell flipped that around. he has a zero tolerance policy towards high unemployment and views inflation as a necessary evil he's a central banker who actually cares about human beings rich people don't like that powell has a heart they hate inflation. especially wage inflation. so they want to rip his heart out like the great scene in indiana jones and the temple of doom bottom line, sorry powell's heart stays in his chest and unlike his critics, he's got a brain, too. let's go to mark. >> caller: hey, jim. >> what's happening? >> caller: i'm wondering what to do with slack. i bought it before the merger was announced and feeling pretty lucky about that. >> yeah, that's why it's time.
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i like sales force as a used position for my charitable trust. got a big call tomorrow at 11:30 for action alerts club members donte in florida, donte. >> how are you doing >> caller: we're the man and we love you in florida and come visit us. >> i love florida. my wife was in dell ray and i went and recoup rated. >> caller: being down 40% with norwegian cruise line. they can't catch a break because of the incidents like crew members and staff testing positive for covid-19. do you believe i should hold >> you hold that because it's frank delrio he'll get the job done i'm with frank i wish also by the way, that everybody would be as co
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considerate as frank is and we can sail with no worries at all. he's the man the fed chief, i know this is a shocker, the guy has a heart he knows a little inflation is good if it means more americans would get jobs particularly african-americans and hispanics. what does it mean for your portfolio? it's a low rate environment. on "mad" tonight is it time to add stock to the shopping list i'll sit down with the ceo of albertsons and looking for a stock considered to protect against rising inflation, i'm eyeing eyeing liondale. is it worth circling back to the stock? i got the ceo. stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter
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earlier this year gave up on supermarket and started going to restaurants again. turns out the grocery store is fine albertsons runs a network of 2200 supermarkets across 34 states in d.c. under 20 different brands including albertsons, you've been to them. i've been to a bunch this hit a new all time high even as this pulled back a couple dollars the company keeping putting up
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good numbers because they spent a fortune remodelling hundreds of stores, investing in technology productivity and proving digital offers plus whenever you hear about flood inflation, that's usually a win for the grocers. think are charging more. the first anniversary of the ipo, let's take a look with the president and ceo of albertsons to learn more about how his company is doing and where it's headed welcome back to "mad money." >> great to be here back with you. >> you know what i'm thrilled about? a lot of people doubted you except for me. the ones that doubted you because they said nobody ever makes any money in the supermarket business but you showed us how you did it what were a couple things that stand out that you did that people doubted you would do? >> jim, the pandemic helped us accelerate our strategy. it just, you know, there were a number of things we were doing
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you can see the first principle was running great stores what you see behind me focussing on the fresh portfolio and our own brands and making sure people can shop the full variety of whatever you needed the stores a fabulous e commerce business and that engaged more shoppers convenience and more and more engaged so we're with a relative performance. >> let's talk about the consumer one of the things you said in one of your presentations is there is still buying discretionary stuff. still getting it and buying fresh flowers. why are we not able to gain the consumer >> the consumer is strong.
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the consumer is really strong. during the pandemic it anchored down on cooking a lot at home and fresh portfolio and they upgraded they traded up on meats, prime beef they traded up the shellfish they traded up to premium wines and they have stayed with that behavior even today, we're selling so many flowers, right? flowers are a discretionary item the consumers are engaged and still engaged in all of those things and developed a habit around during the pandemic and so we're excited about that because of the portfolio placed for that. >> that guy is watching these reporters and get me angry and talking and asking the fed 100 times why are you allowing inflation? how bad is inflation and how bad is inflation for albertsons? >> so the inflation is higher. it's let say between 3 and 4% if you do the math on different months it used to be typically 1.5%
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it's a little higher, it's important. it's 3.5 we shouldn't take that lightly that said, it's happening in an environment where the consumer is really strong and we haven't seen the consumer affected by that level of inflation. i don't know where it's going to go but for next few months, jim. it could go a little higher but again, we have a strong consumer when it comes to us to the extent if we ever get to a place where we are not able to pass through that inflation, we have a fabulous product ctivity agena but we're far away from that in my opinion. >> i hope people realize the programs already but from your presentations, you got a lot more to do. >> yes 25.4 million members in our loyalty program as of the end of last year. it grew 20% through the year and it continues to grow
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it's a classic case of when people shop more and concentrate their shop, the loyalty becomes more valuable so once they engage with us digitally on the loyalty program we learn more about them we're able to give them more personalized deals and engage them in a wine testing and cooking lesson so they engage more with us, that's the beautiful virtual cycle of the loyalty program and we are going to continue to invest in it, it a wonderful franchise we have and we're rolling it out in more parts of the country so we have more upside on that. >> you can help me with something the fed chief was not able to articulate if we have 5.8 -- you're a common sense person. you have millions of people that come through the doors if we have 5.9% unemployment, why is it harder to find workers now than it was when unemployment was 3.5%? that doesn't make sense to me. >> yes, jim. you know, we can have a number of debates on what is behind it
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if the stimulus has been part of it but in my opinion, there is so much penat up demand, you can see it you can go to buy a car and it's difficult. there is so much pent up demand everywhere i don't think thely b the labor market caught up my belief is it will stay three to four months but caught us by surprise we haven't seen to the same extent as restaurants and other services we feel good where we are given the hicks of the labor force. >> let's talk about freight force. when i find open space you really have no merchandise >> there would be certain spots you find that and certain times so the supply hasn't caught up to what it was in 2019 and it's
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spotty we're starting to see that as the summer comes to certain categories, yeah, it's there unfortunately. >> wouldn't we prefer the strong consumer than having too much supply >> i like both i really like both. >> you want both we can't be perfect. [ laughter ] >> i know. but think of the other message there is that we have a strong consumer we've all got supply issues, which means we have more upside when this thing stabilizes from a supply standpoint. we have more upside, more growth available to us. >> well, look, it's a pleasure to have you back on the show congratulations on exceeding what everybody thought you could except for me because i knew you had it in you and i like
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albertsons very much president and ceo of albertsons, it's a good stock for this environment because of this man and big team thank you so much, sir. >> thank you, jim for your support. >> when the stock was 15, 16 i love stocks like this. i said this is the kind of stock you're looking for to go up six points, five points, make some money. that's what it's going to do "mad money" is back after the break. can a company with roots in making plastics make more green by going green cramer is going one on one with the top brass at line dale bazell to talk sustainability, next
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like line dale -- lyondellbasell they were struggling to gain stock. the second quarter could be the broader peak and may not feel different about what the fed said but they could take another year before supply and demand equalized, meaning we're a long way from the peak. in fact, this company is pretty aggressive about building capacity they opened a new facility in south korea last week. they have sustainability with a plan to reduce the carbon footprint and pivot to making more recycled plastics last month nthey announced a dividend boost and supports 4.2% yield but enticing when you consider this might have a lot more upside but don't take it from me. let check into a first time on "mad money" guest. bob, the ceo of lyondellbasell.
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>> thanks for having us. >> your company is one of the most exciting because the fed spent a lot of time talking about too much demand and not enough supply and yet, there are a lot of people who follow your company and say listen, there soon will be too much supply and not enough demand. is the fed right or are these critics who say supply will overwhelm demand which one? >> jim, if you think about through the pandemic, demand really surprised to the upside especially in packaging because of the take home food and all of that movement. now as we sit here today, we're about half way through reopening in the u.s we still have reopening in europe we still have reopening in many parts of asia ahead of us. that all means more demand secondly, if you think about this chip shortages that have resulted in automotive production, short falls, demand for automotives is very high
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in fact, the print recently indicated april annualized would be about 18.5 million units sold this year. furniture, appliances, i could go on and on so many different products are in short supply that eventually that need will need to be met and lastly, we're going to have to restock various supply chains at some point. today companies like us are running as hard as we can to meet current demand and we still can't meet it all. so i think we're going to see demand stronger for longer and the business envierment enenvirs going to be stronger for longer. >> people felt they were moving their way towards tightening they are not going to do that. chairman powell said that. it seems you're tracing out something that could mean we may not be at a peak next year at this time. >> exactly the debate going on today is what is chance to transitory an
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structur structural wage increases, the longer supply shortages, i've heard that the chip shortages may not resolve themselves for two more years. so i think we're going to have a higher price, higher margin environment for quite sometime well into next year, perhaps even into '23. >> in one of your conference calls you said something that struck with me i read it again in preparation for our interview which is that super storm uri came and it's hard for us to understand that you can have a factory that could be hit ansand you can't f it in a week where are we down there? boy, is that the heart beat of the world for chemicals? >> first of all, we've never seen something like what happened during uri. typically during hurricane season, we have advanced notice if we're in the cone of
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uncertainty with any of our sites t minus six daysand star to slow down and have a safe orderly shutdown and what we call a clean shutdown so that after the storm passes, we can go through our recovery effort and start up quickly what happened during yuri was a sudden power outage caused our plants to essentially crash down so there was a lot of damage in if you furnices and the freezing broke pipes. a lot of our things are outside in the environment never have we had the entire texas gulf coast industry be hit and we were likely on average down 30 to 45 days. >> wow gee, that's -- i would have -- that explains so much to me. now let's talk about things that you personally are doing that my friend frank told me about you have something -- you have basically a no lay off policy at
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lyondellbassell? >> for years we stayed very lean and i said to my employees during the pandemic, that was the test whether we were lean enough and sure enough, we didn't have any layoffs. we paid merit increases. we continued 401 k match i wanted business as usual for our employees so that they could focus on the task at hand, safely producing products for our customers. >> then i got to ask one my kids always tell me to ask guys in your business was. we don't know how to recycle plastic. what is bob patel doing to help this >> we're doing a lot first of all, let me say a word about plastics last year you saw the roll of plastics in full bloom so whether it was ppe for medical workers, keeping food fresh, delivering the food to people who order carryout,
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plastics are an enabler of everyday life and frankly a very sustainable material what is not sustainable is plastic waste. we've got to address that. so it's going to take across value chain effort to end plastic waste in the environment. vice chairman of an alliance to end plastic waste which includes chemical companies, converters, land owners, retailers and waste handlers today the bottleneck is getting enough waste out of the landfills and into these recycling plants i do think on the other end consumer brands are willing to pay what it takes to incent investment for recycling recover, recycle, reuse, close the loop that's the answer to address plastic waste. >> it's got to happen and i know you're working on it you care passionately about it and just because you're in the business doesn't mean you don't want to try to stop the waste.
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thank you for coming on the show bob patel, ceo of lyondellbasell if you don't believe me, look at the chart. thank you for coming on "mad money." >> thank you for having us. >> "mad money" will be back after the break. coming up, what does the post pandemic recovery mean for a company that helps connect countless americans to their health insurance cramer dons the scrubs and checks in with a stock that could make you money, next use a single hr software? nope. we use 11. eleven. why do an expense report from your phone when you can do it from a machine that jams? i just emailed my wife's social security number to the entire company instead of hr, so... please come back. how hard is your business software working for you?
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feds plot and i want to
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focus sponsored health plans medicaid here is a stock that has been on a roll for the last month and a half and up 4% more today. their best performing investor day event. centene management gave long term earnings growth in the teens. two-year high of 79 and change and the amount of gas, can it keep climbing? let's dig deeper with the straight shooting chairman to find out more about the company's message today. welcome "mad money." >> thanks. >> there is a moment in your invest lsstor day where you say know it concludes i want to
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reiterate a couple months, the absolute priority is margin expansion. second, margin expansion so i think you were trying to make the point to us that you are going to have margin expansion. >> absolutely. we have been racking in 2.6 to 2.7 net margin i was unhappy with it. we had a lot of growth but hadn't leveraged it. we saw this as an opportunity to do research and others doing research with investors and it was clear that they rightfully were frustrated with it and they wanted transparency and saw they said it time we start to deliver because we have the assets and resources to really provide value and unlock value. >> does that mean the great acre session period is over and now you're going to figure out is not needed, technology is different. that's what is going to happen
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now. >> yeah, we're still going to grow we're still going to continue to improve the profitability as we said and we would do an acquisition and i told the investors if we ever did a large one it's because it has to be more than what the stock buy back would be. of course we'll do that. i see this as a time to consolidate, to deliver on the expectations of the net margin and do all the things we've talked about. >> all right now, because of who you are, you started out your day by talking about a recent settlement involving your pharmacy benefit management -- manager. could you tell us why this was settled rather than fight it because i feel lickke if you
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fought it you would have won. >> no doubt we would have won had we fought it actually 22 jurisdictions and if you lose one and have to have a period on appeal but that cost of that we know legal expenses we said no let's just put it behind us. i say historically people say the past put it in the past and just have it done and that's what we did. no fault no fault settlement. and we assumed no responsibility and did not admit to anything. it's now going to be behind us. >> good. because i didn't want that over hang now biden administration and democratic led congress health care agenda potential september orreconciliation you told me over and over again if the democrats got a majority perhaps they could rework aca,
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make it so even more people could be covered you and i have gone over the fact there are whole states that have not benefitted. can that happen in september, october? >> i think what we should see is where the subsides are made permanent for the aca, things of that nature and below 100% poverty level. they will do things to try and ensure that as it should be, every american has access to high quality care. >> now, one of the things that's happened today the fed was under fire for inflation now the inflation that they're under fire for has a lot to do with shortages i'm not hearing about medical health care, pharmacy inflation. has that peaked? >> no, i don't think it's peaked in the pharmaceutical side we'll continue to see new drugs. we just saw a new alzheimer's drug that is $52,000 a year or something for treatment, and the panel voted against it, so i mean, there is a lot of mixed
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messages there. >> i tell you the evidence was not that great for that one, michael. i was surprised they think they can charge that much with the evidence not being that great and nobody is proalzheimer's for heaven's sake. >> no, no, what is interesting on that. i used to be in pharmaceuticals and these panels are responsible in what they do. look how quickly they approve the vaccines for covid but so i think if anything, it just says across the pharmaceuticals will continue to rise. >> i definitely feel that way. how about -- the stock reacted so well to what you said do you think it was because you said i'm not going to do any more acquisitions? you're talking about the possibility. you're going to have huge cash flow next year is it the possibility to buy back all the shares you want if you stay away from making big acquisitions the stock is still historically cheap, michael. >> it is i think we clearly laid out one we're committed to improving margins, two, we're going to
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give the amount of transparency to work with and very focused on it that we're are reserves running the business, two, retiring debt and keep the cost of money down and say we're going to buy back stock appropriately. we do that so nobody can say we took advantage of it so put all that together, it said that we're going to manage the assets and unlock the value that we spend a lot of time building the company we're a fortune 24 now, which we're very proud of but now it's time to leverage that when you have the assets and digitalization, the systems of technology we have putting those to work is incredible and people are starting to see them. >> i'm thrilled you're doing it. i said gee, i hope michael kind
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of just takes all of these great systems and make them into them because it's time to do that michael, chairman and ceo of centene. stock soared today great to see down, sir. >> likewise, great to see you. >> guys, inexpensive stocks, all of them are inexpensive stocks, that's what i'm looking for. show up on a day the fed did whatever it had to do and that's what you should be buying, not value, not growth, not all that stuff. inexpensive stocks of great companies. "mad money" is back after the break. >> announcer: just chill out. >> is this chill master j? >> announcer: the lightening round is coming back when "mad money" returns
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it is time, it is time for the likening round, buy, buy, buy, sell, sell, sell and then the lightning round is over. are you ready ski daddy? time for the likeninghtening rod lisa. >> caller: thank you for picking up what do you think of martin marietta >> well run company. doesn't need the stimulus. doesn't need the infrastructure, just needs for this country to stay on course it might be a little rocky here. but i like it. let's go to walter in north carolina, walter >> caller: boo-yah, jim. >> boo-yah. >> caller: walter in north carolina. >> okay. what's up? >> caller: thank you for taking
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my call. >> sure. >> caller: i watch your show every night and have for many years and need your expert advice. >> sure. >> caller: many analysts say bank of america is the best financial stock to own their stock performance in the past five days have not been earning optimism it is down 1.06 or 2.5%. today their stock closed at 41.62, up 30 cents my question should i buy at this low price? >> well, walter, we're saying that over the next four or five days there could be weakness in the market but i agree that bank of america is an excellent institution and if you think rates ultimately will have to go up which the fed certainly said, bank of america will go higher i'm in favor of holding and buying a couple days from now. now we're going to go to daniel and thank you for the nice comments daniel in new york. >> caller: hey, jimmy, how are you doing? >> all right, my brother
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what is shaking with you >> caller: doing great my question is regarding trst. >> here is the problem with crisper. if they call it anything else other than crisper people wouldn't be drawn to it. they say let me buy this i hon fesestly would prefer to you in vertex that got regeneron quinton? >> caller: thank you for taking my call. >> my pleasure, what is going on. >> caller: three years ago you hit a grand slam with and. >> thank you. >> caller: the stock is 20% off the highs and been consolidating for about a year we've also seen a record increase in shares to about 85 million for the past three months i understand the merger abtroj but amd announced a $4 million buy back stock and said they
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will finish the approval process july 5th. >> right well, look, let's look at it like this. may of last year it was at 52 and now 80 lisa sue is doing an amazing job. here is what i think happens, ultimately when the deal closes, that stock sores. urging you to buy it here and now. can i go to zack in texas, zack? >> caller: jimmy, a big boo-yah. what's up, jimmy >> i don't know. a lot of things are up looking good what's going on? how about a stock? >> caller: life is good, money is good. at the end of the day it's about the money. jimmy, i have 140 shares on at&t. >> and that, ladies and gentlemen is the conclusion of the lightning round. >> announcer: the likening round is sponsored by td ameritrade. coming up, the coast is clear.
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has covid restrictions fall in new york and the golden state, cramer looks back on an unprecedented year, next as covi new york and the golden state, cramer looks back on an unprecedented year, next when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders—they're made by them. thinkorswim trading. from td ameritrade.
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momentous, new york and california open. that's when the front page of the "new york times", you know we've done something incredible. two of the biggest, hardest hit states have lifted nearly all of their covid re instructions. at this point, that might not feel super impressive since we've been gradually working our way back to normal for awhile now. i like to remember the dark days of last year when something like this seemed impossible the classic case about 13 months ago "the new york times" magazine published a piece by michael steinberer my skepticism only grew when i saw jim cramer, yeah, he's still around on cnbc saying that bears like me were betting against
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science and basically selling the country short end quote. he said i reminded him of quote otter student corporation, remember that one and animal house. first of all, that may be the best thing you see in the movie. if i'm honored, what does that make this guy? you want to bet on those guys? but putting aside the animal reference, meant to be hurtful of course, saying only a studge could beat covid-19. it's exactly what i believe. i told people to buy stocks because of it and this gentleman, well, he thought that was totally absurd fast forward a year later and this guy was wrong in every particular except that i'm still around and apparently, i still have the charisma of tim matheson if you bet on the science and
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bought stocks, you made a fortune because we got a vaccine six months later now i don't mean to pick on this fella, is he still around? he's just a representative example a year ago lots of very smart people thought the sky was falling and there was no way to beat covid in a reasonable amount of time me i do what i always do. homework homework on moderna i knew they had the technology to crack the code on a virus like a safe cracker can crack a safe j&j assured me covid could be beaten at scale to save lives and regeneron that had a drug to get you out of the hospital. they said by the way the researchers said the same thing, do not give up on us we are working around the clock
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with the smartest minds on the planet and the best tools including artificial intelligence fueled by high powered tech hardware. these folks were right because those were the same kinds of people who took the really hard science classes in college that youed had the good sense to dro out of because they would have ruined your transcript imagine if you listened to the bears 13 months ago and rtshort the stocks technology firms behind them including the brains at nvidia if you shorted stocks a year ago, you were betting asqugainst america. do you think i like saying something that corny i had to say it because it was true why is this important besides my obvious indication because we're still living with the consequences of last year's conventional wisdom. it's why we have so many problems with inflation and supply chain interruptions right now. most ceos schooled in the great recession have response to a downturn and dialled back as
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quickly as possible unless they are caught with too much inventory but this wasn't another great recession thanks to the drug companies, the federal reserve and elected officials with bailout the, we basically beat this thing. we thought all these shortages, because companies weren't planning for a post covid environment and didn't count on washington to provide so much stimulus to make consumers so rich if you have a job honestly, who can blame them when the conventional wisdom last year was so absurdly bearish. i can blame them i was speaking to every major drug company last year in the researchers. there were times also the treasury secretary had me on speed dial called homework. it's very easy to be cynical a year ago with thousands of people dying from the virus every day. if you actually did the homework and made the call and did the emails, did the texting, double checked the homework you knew not to sell america
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short. what can i say since the bottom the dow is up more than 16,000 points and sorry, mikey, i'm still around i like to say there is always a bull market somewhere and i promise to find it just for you here on "mad money." i'm jim cramer see you tomorrow."the news with" starts now diplomacy is done, but will it lead to anything? i'm shepard smith. this is the news on cnbc the summit showdown. president biden wraps up his face-off with putin. >> i talked about the proposition that certain critical infrastructure should be off-limits to attack, period, by cyber or any other means. >> and the next tips. police make a major cyber-bus, arresting hackers rents rising, home price

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