tv Mad Money CNBC September 8, 2021 6:00pm-7:00pm EDT
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welcome to september, the most treacherous of months! you should get used todays like today. dow shed 59 points but the nasdaq lost 0.57%. i believe there will be far more of them we have come to suspect ever since the bottom 18 months ago. why am i so concerned about the weeks ahead other than the self-fulfilled prophesy that september tends to be tough. let's not waste time one, earnings. that's right earnings call me old-fashioned, but i think the stock market is very much tied to how companies are doing. these numbers have been phenomenal for ages. today we have seen the nasty side the downside ones. let me tell you, they're no fun at all and we're not prepared for the damage two companies sher ring williams and poltro groups disappointed
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earnings top and bottom on why supply chain problems and raw cost inflation wow. that's a paint company and a homebuilder. it comes on top of yesterday's ugly preannouncement from ppg. the raw cost problem now includes the price of natural gas, something we haven't had to worry about for a long time. now it's approaching $5. that's way too much expensive for a fuel that serves as a basic building block for so many of us. demand is still in good shape. that's right i mean, they're still getting business the bad news, these supply problems, they're not going away seems like they have become ingrained. no wonder the federal reserve showed continued elevation of inflation. it's just true
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we're stuck with it, man that brings us to problem number two. the federal reserve made a big bet that inflation would be transitory that's why they continue buying bonds. however, after these announcements where we hear about rising raw costs, don't you have to wonder it's like that it confounded so many different entries that's going to put tremendous pressure on fed sheet jay powell to raise interest rates. and that is still among most people's worries, more than earnings short falls here's the thing this is how wall street works. you want to fix the housing rates? bring down housing rates rate the cost of that money, the demand will dry up yes! higher rates can break inflationary cycle but they do that by destroying demands and that crushes earnings, which in turn crushes tocks
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if rates are headed higher, that creates high yield dividend stocks these are supported by the yields we have a conundrum. the stocks with the best yields rallied. we also saw an upside surprise from the dividend king today general mills said that business was coming in at the high side of its estimates probably some strong pet food sales. the action of course was overwhelming in that group said the whole fruit cohort. those are the recession stocks let's hope after the close lulu lemon's numbers change the complexion of this mark. but if you throw in the rally to utilities, it feels like many investors have given up on this economy. but if you believe we're at the beginning of a new rate hike cycle, then buying the recession
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resistant stocks make a ton of sense. you certainly want to hear from one of the largest steel companies in the country then we've got a problem that i regard as being -- who would have thought this just a few months ago too much stimulus. the president and his allies in congress want a gigantic stimulus package that would super charge the economy, but it would also cause major wage inflation, which is good if you work for a living but bad if you own stocks. if that gets killed, the investors who depended on it and what it would do to companies they own, well, i got to tell you, those people would be disappointed because this -- without this, well, you can't pop up the cycles. either congress passes this thing or congress fails and the economy or at least the simple part will get hurt with no federal support. of course there is one way out of this dilemma. it is just not a good way.
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if the runaway delta variant causes enough of a slow down, the fed won't need to slam the brakes on the economy because the pandemic will do the job for them talk about a choice. higher rates or more covid either way, the economy gets hurt i'll take a rain check on both all that said, the natural buyers, the people who send their money into mutual funds every month, you, well, by nature that sops up the excess supply chain but if you think there is enough money on the sidelines to support these prices, you still need the nightmare of excess supply from all these endless ipos i am on the floor of the stock exchange every morning and i am overwhelmed by the number of companies going public companies with little to no hope of turning a profit but they have catchy names and good ad campaigns. i have always said new supply serves as a wet blanket. of course this ipo cycle will
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eventually play out like they always do. but the sell out lowers all prices to levels where stocks are more attractive. we can't stop this inflow. incredible given the awful performance of most facts. there is too much money to be made creating these things they'll kill it. that takes time. finally, there is one last worry that just can't seem to stay on the radar screen that's china president xi decided to go all in on, and i quote, common he's sounding more like chairman mau. more than any chinese leader it's very bad for business but i'm much more worried about chinese horrific human rights track record and the authoritarian term will embolden him to put pressure on taiwan or do something crazy like invade
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that jep opardizes the supply chain. more importantly, this could set off world war iii. to loosely paraphrase, nuclear war? it's bad for business. here's the bottom line, at the end of the day, i think we can deal with any of these issues, but not all at once. at least not without lower stock prices and lower stock prices is what september is all about brooke in minnesota. brook? >> caller: hey, jim. thanks for having me. >> no problem. >> caller: all right so this company has had good news over the past few months. but it just has 21 donors. ssr. is this something we should keep holding or should i put this money elsewhere? >> well, of course ones that have hope to be asset automobile
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companies it is sfr. at this point $13. i'm not a seller bob in new york. bob! >> caller: hey, jim. how are you? >> i am good, bob. how are you? >> caller: i'm doing fine, thanks microsoft is hiring former amazon cloud executive charlie bell on face value it looks like this is a major coup for the company. is this the type of hire that indicates that there is substantial growth in the cloud and is the catalyst for a higher stock price? >> well, i think what it does say, not unlike ford taking fuel from apple, is that the momentum remains intact at microsoft. it is a stock i like it is a stock that can still b bought over $300 dan in pennsylvania. >> caller: hey, jim. question. >> i was just thinking of you because we're talking to cleveland clips, the old rival of bethlehem steel what's going on. >> caller: ticker qlys they got great revenue, quarter
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of a quarter year over year. they keep increasing revenue and earnings and consistently beat earnings i think they're a great cyber security play. what is your take? >> i couldn't agree more and it is not as expensive the others i think you got a winner but, remember, we got to deal with the likes of sentinel one, crowd strike it is crowded. but there is a lot of business to be done get used todays like today they start weak, kind of get stronger, get weaker and at the end of the day you're less than you were yesterday we can deal with all of these issues, but we can't deal with them all at once tonight cleveland cliffs is going flat so could the largest steel company in north america be ready for gains in your portfolio. and sig continued to shine this year after reporting a top and bottom line, isn't it time to say i do to the stock don't miss my exclusive with the
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company's top brass. and sentinel one, could the company defend its title in the cyber security space after rallying so much let's speak to the ceo and stay with kramer don't miss a second of "mad money. follow @jimnamer have a question? tweet kramer send jim an e-mail to madmoney@cnbc.com. or give us a call. miss something head to madmoney .cnbc.com ♪ ♪ ♪ aloha! isn't this a cozy little room? sorry your vacation request took so long to get approved,
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delta variant is reeking havlvo on the economy in recent weeks the stock pulled back 12% thanks to the delta slow worries that congress might not be able to pass biden's infrastructure package it is a terrific company i mean, it's crazy, right? on the other hand, it is up 800% if the economy slows down, then steel prices could get hammered translating to weaker earnings before you give up on the steel trade, we have to check in with lorenzo gonzales he has a better sense of where this company is headed welcome back. >> thank you very much for having me on, jim. it is a pleasure to talk to you again. >> same. i want to get right to the heart of it. the new economy, sir, it runs on steel. am i right >> yeah. the new economy is no different than the old economy everything that is surrounding
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us has steel and we supply them all cars, bridges, airports, wind towers, you name it. we are everywhere. >> but you are talking about things like -- when you talk about wind towers or solar extrusions, you are talking about secular growth, not the usual growth i used to live next to bethlehem steel. one day it was great, then the next day it's bad. that's not what i'm seeing anymore. >> management took over. we are a different type of people we run this business as a business we run for profits we run for the shareholders. we would like the shareholders to make money. we run the business for return in investment. so it's all basics, and we run based on the basics. >> people have to understood bethlehem steel in 1984, four out of the top ten executives worked at bethlehem steel.
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they had four different golf courses. but i do care about the automotive supply chain. we have to be worried because of semiconductors we know things are slow because of that. but in truth the steel business has never been better when it comes to autos. >> well, we are self-sufficient. we are integrated. so we go from on the ground in minnesota and michigan all the way down to stamping parts so we deal with mining trucks and we deal with robots producing rings for the car manufactures so we manage the supply chain for our clients. yeah, we have supply problems they have with their complex supply chain for us it is a blessing. demand is very hot we are doing business with other sectors that are all firing in all engines, and we had a fantastic quarter.
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fourth quarter will also be strong >> the street doesn't believe it they think they have seen anything steel always goes down the numbers next year are beatable if we get a federal infrastructure package because steel of all different colorations goes higher in price. >> well, they will believe it when they see it, but by now they should have seen that prices have been going up for a year and prices don't go up because we decide to do so it's all about supply and demand it is all about managing the costs properly, and it is all about understanding what the consumer is thinking and that's what we do. it's about time for these folks to get rid of the past and understand that they're dealing with the present and envision a future that could be bright for us. >> i want people that are thinking about buying the stock go over the analytics.
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one thing i found remarkable, $1,500 bonuses for people to get vaccinated turned your whole place around when it comes to absenteeism and health, didn't it >> yeah. we did that. we got to a level of 75% company-wide in vaccination. we had location, big steel product. the biggest steel plant in the country. 78% level of vaccination our new plant in toledo, most modern plant in the world. 81% vaccination rate so we have herd immunity in cleveland cliffs by the way, all their locations, they got above 75% vaccination rate instead of the $1,500, we paid $3,000, so we doubled in the locations we were able to get to 75% or better in vaccination rates. so e with got 31 of our 46 locations above 75%. >> one of my colleagues asked me to ask you what about the people
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that voluntarily got it. what about the guy who did it or gal who did it and it turns out if you held out and you got a lot of money. >> yeah. some people that were vaccinated and they are not informing hr that they were vaccinated, i gave them 1,500 reasons to confess they were vaccinated so there is a lot of things that don't belong when you're dealing with a health scare issue like a serious health scare issue like covid. so i think we resolved that, and we're very pleased that we don't have a problem with covid in our plants anymore. >> now, i think people should know that you put together a couple of companies and people are very concerned about your balance sheet. i don't know when i look at your balance sheet, you're deleveraging rapidly. >> well, at this point, we are -- we are at a leverage ratio that is less than one time maybe done so i was going through the numbers and seeing what the last
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must show and what the next will show our run rate is below one time very few companies can say that. and, okay, some skepticals still believe that steel prices are going to collapse next year. and i'll tell you, jim, they are not going to collapse. >> no, absolutely. they are wrong but they're not -- there are a lot of critics who say this industry is a dirty industry we don't want to be the steel business who are we versus others in this world? >> we are by far the cleanest steel industry in the entire world. all of us use pebbles. zero tons of cinder. china only uses cinder we do the opposite
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we use pellets we have more electric cars than any other country in the world 70% plus cleveland cliffs is a mix of blast furnaces and electric furnaces so we have absolutely no arm by the way, we use hbi in our blast furnaces and we have the most modern and most environment tally friendly plant in the world we spend $1 billion to do that so we are very green, and we do all that with our own money. >> look, i am a believer you made me a believer in the single digits when you told me i would be wrong i got on board and you have delivered president and ceo of cleveland cliffs, really great to see you again. >> nice to see you as well, jim. take care. thank you for having me on. >> cleveland cliffs, i believe
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incomparable design makes it beautiful. state of the art technology makes it brilliant. the lexus nx. experience the crossover in its most visionary form. experience amazing at your lexus dealer. there is nothing i love more than getting a fabulous quarter for free last thursday we got an amazing set of numbers for kramer fave signet jewelers. the stock had been on a roll it rallied 6% to $85 but it pulled back to $74. down $3 today a loan si kbrks net blown away the investments. they earned $3.50.
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what was the street looking for $1.70. the big increase in the forecast the beatdown the stock is up by $5 from where it was trading before the quarter. the distinct buying opportunity. maybe i'm missing something. let's take a close look with the turn around artist ceo learn more about the quarter and where the company is headed. welcome back to ""mad money." >> hi, jim great to be back. >> it is great to see you. i'm confused i'm mystified. you have one of the best quarters i have seen in retail you have fixed the balance sheet. you have data-driven insights and you're more popular than ever before. yet, the stock is not humming like before. what am i missed. >> i don't think you're missing anything the team delivered an outstanding second quarter, well above analyst's expectations
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we raised the back half of the year based on current momentum the strategies we put in place are working. we're seeing that in our value propositions and differentiation, also in connected commerce, our virtual capabilities in online virtual jewelry consulting are working i think we're headed into the back half with more momentum and optimism. >> i had thought that perhaps people were saying, wait a second, 90 plus %, that's one-time only. but you are much more profitable than you were before the pandemic. >> well, that's right. and we're expanding our operating margin, which i think is great news. we're three and a half years into our transformation, and the team has been really focussed on cost savings and efficiencies in a wholistic way. we delivered more of the $300 million of cost savings as part of the first three years of transformation we just took up our guide on
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cost savings for this year by $10 million to $105 million. so that he is's on top of what e already saved. very strong cash flow from operating activities, strong cash position at $1.6 billion. so really i think the team is doing a great job in a wholistic way. >> you promised me this a long time ago you said you would deliver and you put through a lot of different things but you also mentioned you have a couple things going for your industry consumer confidence at higher prices high -- i love this one. high self-purchasing explain to me whatthis serena line is about. >> well, actually, i'm wearing it today it is a fantastic new line 60 pieces inspired by serena williams she actually has helped us with the designs. so we're launching it today at the u.s. open. my team is out there meeting with editors all day, sharing
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this line. we've had it in stores already for a couple weeks and it is selling very well to start actually, i think that is a tribute to serena and her personal strength but also to our fabulous jewelry designers the line is gorgeous i mean, i really think it is going to be a big hit for self-purchasers and also for gifting this holiday season. another interesting trend, though, is that we're seeing men purchasing more jewelry for themselves not just gold chains we're seeing a lot of diamonds, diamond stud earrings, diamond rings. so i think that bodes well not only for gifting but self-purchase as we go into the back half. >> how about men giving to women? rising tide of engagements something new there. >> yeah, absolutely. so we're seeing that as a trend. more couples are getting engaged now. you know, the most likely people to get engaged are ones who have just recently attended a wedding. you know, couples who are near
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engagement go to the wedding and think, hey, we should do this. so the fact that we're having a little bit of a reprieve here coming out of the first wave of covid hopefully the new variants don't put a stop on this but people are able to go and celebrate each other's newspaper actuals and it makes them want to do the same thing. >> maybe they're expecting supply chain problems, but it looks like we have even anticipated those. >> we got way out in front of it we have a fantastic strategic group of vendors we were working with them early last spring on new lines that we wanted to bring to the market that we thought would reflect customer trends. and we got all of our orders in a month earlier than normal this year the benefit of that is it's allowed our vendors to plan our production across the summer safely so that they can keep all their workers safe, but also they have been able to deliver more than 50% of our holiday orders to us already, and we're
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getting that immediately out of the stores and that's important because i think that christmas shopping is going to happen this year earlier than ever. the early savvy shopper is already out looking for good deals, great gifting items i think we have seen some reports that gifts may sell out for this holiday, but signet will be in stock. >> any problems finding employees, problems with covid you have got a dedicated workforce, but i like to think that you can put on as many people as you need because it sounds like to me the biggest issue will be can you staff. >> well, we have done a couple of things on that front that i think are important. we launched our purpose inspiring love and our employees are really, excited about it and we're seeing higher retention rates. they voted us to be a great place to work, certified company. so the culture is really positive and i think people are really proud of what we're doing.
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we have more than 85% of our employees said they're proud to work at signet. >> i didn't want to bring up the past, but i know what it was like but i really wanted to change you for what you have done to change the culture. >> well, thanks, jim obviously it is not just me. i mean, we have 26,000 amazing team members, and that's one of the things you and i talked about early on we knew that for the transformation to be successful, we had to unlock the potential of our team, and i think we have done that. >> well, i know you have done it. >> to your question about holiday, yeah, for holiday hiring we're out already looking for new people, bringing them on, you know, every day now with even better training and development program than we've ever had in the past. >> i also want to say go bulldogs you should be number one. >> thank you. >> all right the ceo of signet jewelers you should buy sig you should buy it because of her and her team they're winners.
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"mad money" is back after this. when it comes to your online security is any one the number one way to stay safe kramer sits down with a company leading the pack next. ♪ i wonder how the firm's doing without its fearless leader. you sure you want to leave that all behind? yeah. stay restless with the rx crafted by lexus. experience amazing at your lexus dealer.
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all right. my one worry here, the stock is extremely expensive. i want to learn more about this great story. if it does pull back, you have a chance to buy it let's dig deeper with sentinel one to find out what comes next. welcome to "mad money." >> thank you for having me, jim. >> i have to tell you, accelerating revenue group is the magic elixir of what takes stocks higher. many people think getting accelerated revenue growth for sentinel one. >> yeah. i think it all starts with exceptional technology you know, we built such a wholistic platform to protect cloud network and devices. that's just in very big demand right now. couple that with super robust going to market. that is spending, you know, complete global footprint, very rich channel ecosystem which we have nurtured over the years we don't compete with them we empower them to deliver their
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services over our platform you know, just increasing growth both in, you know, partners that drive. and this is fee revenues and incidence response service revenues and on that tack on the enterprise go to market that we build, and that is ultimately something that is also accelerating we have extended our overyear over year growth in large enterprise growths 100k at 145%. views on $1 million. so all in all, just massive growth in every aspect of the business and momentum will definitely be keeping up. >> you mentioned total desperate market it is expanding. obviously the threat protection more necessary than ever i want to drill down artificial intelligence it sounds like you are playing offense somewhat like another company had on where you
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basically are able to predict and anticipate the bad guys. is that what sentinel one is doung? >> yeah. it's that and i think our focus on, you know, prevention is really a key tenant of what we do for many years now has really created a very unique approach where you don't just deal with, you know, cleaning up infections or running after being chased down with everything that's happening in the environment you can actually prevent breaches from happening to begin with and that just removes, you know, a lot of the noise out there, creates efficiencefficiencies and the level of machinery we have on the platform today that ranges from on device machine learning, cloud-based machine learning is the most effective in the business and something that is becoming competitive for us you know, it is something that most of our peers don't really have and it doesn't come at the expense of edr platform with the most capabilities out there than
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any other peer we have in the market. >> is there enough room to put up incredible number we know crowd strike has big numbers. is there some sort of legacy business that is not working that everyone is able to feast off of >> absolutely. i think that that's the main driver, you know, in our market. you see still incumbents very much entrenched with legacy enterprises. that represents the biggest opportunity in the market. you know, we're seeing growing pipeline and more opportunities. also, you got to remember that these incumbents are being sold antivirus software today when you look at companies like us, it is a broad-based platform for every part of the business all the way to cloud workloads and devices. it is a wide range of capabilities it is a platform that has about 24 different modules, so there is a lot to expend over time. >> i want to talk about
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ransomware for a long time i thought it was a personal issue they got their daughter into brown or because they got their son into someplace they shouldn't have and next thing you know there is people trying to hide things it now seems like it is a board level discussion, where people at the highest level recognize ransomware could lead to prosecution if they pay them off. colonial life, this is at the heart of our entire in infras infrastructure is that driving things >> absolutely. ransomware is a huge issue it touches everybody across this continent. it doesn't really recognize targets. it is almost a statistical game. they just spring around ransomware these attackers and eventually someone will get hit and sometimes they compromise targets they don't necessary want to target colonial pipeline i think was a mishap i don't know they thought they were taking down such a prominent, you know, key tenant
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of critical infrastructure but at the same time, people are just looking for ways to prevent ransomware machine learning is such a great way to protect from ransomware because it is a structured problem. machine learning is great at identifying deviations from normal baseline behavior and ransomware looks anomalous to benign behavior that's why our platform is one of the most effective ones you know, we can immunize our platforms over the years zero infections. so to us dealing with ransomware, a big part of what we do, but it is also part of the picture for adversaries of all different kinds, different targets, ideas they are so approeciative of becoming a big target. it is a myriad of different challenges in cyber security today. >> it is deep instinct that i talked to. one of the things they made a point to say is that false
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positives are an issue they also don't want -- they want to differ from everyone else by offering really basically a guarantee, a financial guarantee. can you do what the people at deep instinct do >> i mean, we were the first company on this planet to provide a $1 million guarantee for ransomware we appreciate what they do i think when they looked at what we have done over the years, we learned a lot. but today what we do is to expensive. it is much beyond protection, much beyond just machine learning we own the company we are incredibly proficient in ingesting data bites of fine data and getting into insights that's a different point solution. >> it is just another series of great numbers. i hope people realize it is an expensive stock. but offering a guarantee
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everything that people want out of a cyber security company. co-founder, chairman, ceo of sentinel one, thank you so much, sir. >> thank you so much. guys, expensive stock doing a lot of good. remember, we had crowd strike. but it is not a crowded field because there is some legacy players, incumbents who frankly just don't know what they're doing. back after the break. coming up next -- >> let's make money together what do we got >> kramer is bringing the thunder and answering your burning questions in today's edition of the lightening round. ♪ i wonder how the firm's doing without its fearless leader. you sure you want to leave that all behind? yeah. stay restless with the rx crafted by lexus. experience amazing at your lexus dealer.
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so, who's it going to be? tom? danny? guess it's on maggie. plan today. feel comfortable about tomorrow. massmutual. incomparable design makes it beautiful. state of the art technology makes it brilliant. the lexus nx. experience the crossover in its most visionary form. experience amazing at your lexus dealer. lightening round is sponsored by td ameritrade.
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>> it is time! it's the lightening round. >> and then the lightening round is over. are you ready? we'll start with gregory. >> caller: hello, jim. welcome pack from italy, my friend. >> thank you so much thank you! >> caller: did you bring the green puffs back for all of us >> well, i got -- i brought -- i don't know i brought a suit anyways, what's up >> caller: listen, wouldn't it be great if we could know what diseases we might be prone to or predisposed to wouldn't that be a wonderful thing? >> sure. >> caller: just by doing a simple test. okay, it's not facebook, but i think this company could well be the next one. >> okay. >> caller: i'm talking about 23 and me. >> you know, the stock is at $8.
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i think it should be higher, especially if you like glaxo smith klein. let's get them on the show something must be wrong for the stock to be at $8. >> caller: hi, jim thanks for taking my call. i love your show i really appreciate that. >> thank you. >> caller: here's my question. several months ago, you introduced us to apple latchen harvest. i bought some but now they have fallen on hard times. >> i've got to tell you it is one of those stories that almost seems too good to be true. it's got to be the future, but the future is not now. it is too early for that stock i like the principles, though. let's go to samuel in georgia. samuel. >> caller: hey, jim. thanks for all you do. >> thank you. >> caller: i want to ask you about a stock i bought early in the pandemic i made a great return and i like how they bought new properties i like barry stern is a genius
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what are your thoughts on starwood property trust? >> well, he is a genius. how about the fact he came in, come on when the stock was at $18 and he came on and he said, it's safe and it's a growth company, and he was right and he's welcome on this show any time he wants to be. let's go to colin in pennsylvania. >> caller: thanks, jim go birds. >> big atlantic game going to be a beatdown let's hope he has a good time. what's up? >> caller: not much. i bought this stock last year. with covid, i'm talking about big lots what do you think about after their earnings >> colin, i told you, you know, big lots, they have been angry at me ever since i didn't like all the different like chips, you know, like potato chips in the aisle when i was trying to buy stuff. but i was right. let's go to john in massachusetts. john >> caller: boo-yah, jim! i'm considering buying a stock that's been out for a few weeks
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now. but my concern is a lot of americans. how will that affect their profitability as maintenance costs arrive and new assets are needed at wheels up. >> i always thought wheels up was more of a private club but i got to tell you, i was right. let's go to sam in kentucky. sam. >> caller: how are you doing, jim? >> what's going on, partner. >> caller: i'm calling about smith and weston they have continued to keep dropping. >> well, i think that people feel that there was -- you know, like these stocks trade on gun legislation. but there does not seem to be a major focus on the biden administration to people are saying business as usual and that's not good enough to support the stock. tom in maine hey, tom >> caller: hey, jim. welcome back. >> thank you, tom. good to be back. i'm like lloyd in the overlook what's going on? >> caller: well, i got a
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question i don't understand rio pinto it has a huge dividend and a small fee and it keeps going down. >> because this is one of those stocks that people think -- people think this one is not going to have a good number next year people feel like they can buy a stock this year and than you have to sell it. i like the stock and i'm going with you with rio. and that, ladies and gentlemen, the lightening round >> the rightening round is sponsored by td ameritrade. coming up, compared to the u.s., what is italy doing so well to give covid the boot? kramer's back in action with lessons learned from a trip across the pond. next
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health care system is quickly overwhelmed. one of the world's tourest destinations turned into one of the most dangerous places on earth. i went back there last week, though i can tell you i've never felt safer because it is so hard to get into italy you need a written negative conn it is different to go anywhere without what's known as a green pass it's the vaccine passport and the reason they have a 70% vaccination. what a change from six months ago when they hardly had anyone vaccinated compared to the u.s in italy you need your green pass you got to have it on at all times. any restaurant, any store has a right to ask you for your card and refuse service if you don't have one fortunately, they accepted our fully vaccinated cards but i don't know how long that will last couple of scrolls on a card. in italy, they're so strict that a friend of ours who hadn't gotten her pass yet was turned
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down i mean, while we were there, we learned the government is thinking about making vaccines mandatory to make sure they don't get hit for another outbreak when i spoke to public health officials in italy, i suggested that would seem draconian if they did it here where there has been so much resistance to getting immunized. one of the doctors explained this is not a free doll you shall you. it is a public health issue. both seem eager to wipe out the virus, even if they make people angry in the process thank you. now compare to our country where carrying an infectious disease is treated as a freedom of expression issue we act like you have a constitutional right to catch covid and give it to other people beyond the public health as aspects, the pandemic is doing something else it is turning around europe's long dormant economy
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the companies i talked to both it can and nontech are seeing incredible numbers out of europe we're hearing from salesforce.com where the european numbers were spectacular but so is pvh well above plan in europe nobody was looking for that one. for over a decade, i have tried to steer clear of companies with a lot of european exposure, but when the eu goes 70% vaccinated leaving us in the dust, you know many of their supply chain employment problems are about to go away. have a green pass, will travel if not, stay home. no, i'm not saying we should all get vaccinated to make the economy stronger although, that would work. i'm saying we should get vaccinated so we can be healthy. once we've got our shots we can go back to turbo charged growth mode instead of much needed employment numbers, italy is still a fragile economy. it needs more u.s. tourists.
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but when people start traveling again, something tells me they will head to italy why not? in the last 18 months, i have never felt safer well, there is always a bull market somewhere i promise to try to find it for you on "mad money. i'm jim cramer se a new plan to fight covid. and mother nature churns up another strike i'm shepard smith. this is the news on cnbc extreme weather targeting the northeast again. threatening the same towns just ravaged by ida the forecast and who is most at risk america's students caught in the covid cross hairs. the number of kids infected at an all time high >> absent masks, we don't have the social space within the schools. >> we're on the ground in a state where more than 30 districtar
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