>> plus virgin, exquisite campus >> have you looked at valero. >> i used to drive a plymouth valero my mission is simple, to make you money i'm here to level the playing field for all investors. there is 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 the make friends. i'm just trying to make you money. my job is not just to entertain, but to educate and teach you, so call me at 1-800-743-cnbc or tweet me @jimcramer. the bull is dead long live the bull

and that's been running through my head ever since we started learning more about what the federal reserve has in store for us to me this market is pivoting, and we need to pivot with it no, no you will pivot with it even if you have to be dragged kicking and screaming doing so that includes a day where the averages started ugly, then recovered, dow finishing up 87 points, nasdaq up 3.6% this was a very pivotal day. when i was half journalist, writing three stories a day about homicide, dashiell hammett, raymond chandler i could get my hands on, i always had in the back of my mind that you had to slaughter your pearlses, those phrase use thought were so ironic, so bold, so brilliant that you put in your articles. those are the ones they had to cut, even if they felt like your best work. kill your darlings kill your darlings is writing 101. when you get a pivot in the stock market, a real sea change

like we're having right now, it's tough to slaughter your pearls, to take what brought you to these kpaulted levels and realize they aren't getting you anything they aren't going higher if anything, it might be what drags your portfolio much lower. you see, when the fed decides to raise interest rates aggressively to stop inflation, two things happen. first, whatever is working can't continue to work as well aged second, whatever isn't working can get a new lease on life so let's take two real life examples, because i think this explains what you see is what the future we're going do amazon and eli legally. amazon is the bell, tech stock of our generation. we bought a ton for the charitable trust when president trump decided it was getting the better of the post in 2018 since then we have a double. nice what did the stock do in it ran up a tad, but it's been giving it up ever since, and the stock is now down more than 5% for the year it's a huge disappointment because it's already reported an

amazing quarter, a and the market couldn't have cared less. do you think next time's amazing quarter will be any different? no way you always must pay attention what happens to a stock after a great quarter. if the answer is nothing good, then it might be the last great quarter. meanwhile, amazon sells extremely high, a loftily $1.6 trillion valuation huge amount of money when the fed decides to kill off inflationary spiral, the hedge fund book says you should sell stocks like amazon until it is nearly over. hard to fight against that, even for this amazon lover. now let's consider eli lilly this is a huge position for our charitable trust, which let's be clear has moved from cnbc to the old website i started. up huge for the trust. why? because when the fed started hitting thebrakes, including big pharma i could tell you that lilly is doing well because of its diabetes/weight loss drug or

rolls back plaque in alzheimer's patients, but the fact is we've got a new bull market and recess-proof names that can keep putting up good numbers even in the face of a slowdown a lily is a prime example of what is working in this market. there are a lot more lilys than there are fangs. they're from the very big cohort that wins when the fed is tightening it's not just pharma take a look at the food stocks we hear about food inflation, packaging inflation, freight inflation. conagra normally would have sent the stock down 5%, right what happens the stock actually goes higher betting that conagra's inflation is running its course. call it the last inflation-addled quarter, ointerest last bad quarter we've seen the same thing happen with general mills wow, what a monster that's been. jm smucker, wish i owned that

one. they've been horses. even though the businesses are just okay and the real costs that obviously bad when you go out with stock people, invariably will say is this the time to buy church & dwight that was a fantastic growth stock that has been stopped in its tracks for years guess what take a look at that one. packaging freight costs and all going higher i'm adamant that you need to be very conservative with the phang names and their ilk. unfortunately, i created this, okay so it's very, very tough for me to say you know what it doesn't work in this environment. but we haven't had this environment in a very long time. as i told investors on our wild call, you sign up to listen and it's going to knock your socks off. of all these growth names, the only two that i would put fresh money into, the only two, i bet

you can't guess. alphabet and meta. that's because they're not expensive on next year's earnings especially when you back up the $140 billion balance sheet there is no greater return on an investment for a small business owner than search ads on google. because google can tell you how many people came from where to your store believe me, if you type best mexican in brooklyn, you're invariably going to be led to bar san miguel and google can improve the response for the traffic by showing where the query was asked and by following the query blue line you. ka-ching who knows what advertising is worth. no one knows this one tells you as for facebook, all i can say is have you looked at reels lately, the second great one versus tiktok? i think it will end up being better and more popular because mark zuckerberg is working on it personally to make that happen although i say that as someone

with zero understanding of the media. i have a great understanding of facebook, though, and their ability to copycat is second to none this one's very hard because for a long time, the whole stock market bowed to faang. faang and friends. it was a bull market and a handful of stocks. a bear market in hundreds, if not thousands of others. now the bear is changing to a bull, and most of that will happen over the course of the next month the moves like the one in target today, an essential merchandise, but they'll keep going now that the fed is on the warpath. and by the way, just to touch, coy put up, you know, all the popular semis are the same they all look the same they are the same. when you look at the big gains, though, in the drug stocks, you may think you've missed the pivot. not at all the oils, they're fantastic. anything health care

just getting started utilities, insane, maybe hold off future a while fast food's dynamite and retail is going to be won by the bulls. the toughest one, the financials it's nice to have a market led by costco and united health. but if you're like me, you need to see a giant stepping stone to prove the validity of this bull market in order for that to happen, we need to see the banks rally. the federal reserve is raising short-term interest rates which instantly makes the banks more profitable they should benefit substantially. remember the 1990-1992 period? nobody does except for me. alan greenspan was worried about the financials, wanted them to make easier money. that's what's going to happen again. why aren't people focused on that because they were in diapers or feet pajamas or something. the bottom line, if we get the financials going here, the health cares, more retailers, even if we lose the trillionaire stocks, which would be sad, we'll have a much healthier bull market than we have had in many years past i need to go to david in new york david? >> caller: thank you, jim,

boo-yah. >> boo-yah. >> caller: thanks for taking my call. >> of course. >> caller: a fan of your show and i appreciate all you do for us. >> thank you you should join the club, man. we did some kind of real teaching session today like you never seen in your whole life. what's up? >> caller: fantastic i'd like to get your perspective on starbucks i'm a significant investor the stock has come under a lot of pressure here, down over 25% year to date and there is quite a few moving pieces here heading up into the earnings call plus 27. i really like the brand and the product. i think they have some pricing power left still in the context of the inflationary environment, but they have some headwinds started in buffalo, now it's going across stores. schultz stepped back into the ceo and announced the end of the share buyback to focus on investment and people and stores, but they have large debt load we're seeing increasing pressure from dutch bros. >> howard schultz is there i am a huge believer in howard

schultz. i think he will figure white house should run the company the next five months will be a learning lesson for everyone watching how to make it so this company reigmites, even with high inflation, even with china locked down, even with union issues because that's what howard will do a in howard, i do trust. by the way, i told howard about the annihilator and dutch bros a long time ago, but it takes two to tango when the fed continues to tighten, whatever is working can't continue to work as well and whatever isn't working will get a new lease on life. if we get the financials to go along with the health care and the retail move, even if we lose the trillion dollar bull market, we will have a much wider, broader, healthier bull market than we've had in years. "mad" tonight, are you getting the best buy in best buy at eight times earnings shares down 10% over the past month. good dividend. i got a chance to sit down with the company at the midtown manhattan stores they make things, sell thing out

of profit, give money back to shareholders then with the masters under way, the masters, and tiger woods on the course, could investment in goff be a hole in one for your portfolio i'm hitting the links to find out, and i've got the green jacket that's deserving. by the way, conagra, i'm sitting down with the ceo to find out how the company is positioning itself in a volatile market, master, conagra, always in the same sentence. stay with cramer >> don't miss a second of "mad money. follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an email to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc miss something head to "mad money." madmoney.cnbc.com.

what do we do with a retailer like best buy that's already come down dramatically from its highs to the point where it now sells for a palletry ten times earnings? this stock can't get any love because wall street is so worried about a recession. but at some point it simply gets too schaep to ignore with hp ink, maybe people want this stuff at home again have we reached the buying point with best buy? earlier today we had the chance to speak with corie barry, the ceo of best buy at one of her beautiful midtown manhattan stores take a look. corie, when you talk about best buy, you don't talk about equipment. you don't talk about the beautiful store. you talk about purpose why? >> purpose is the foundation of why we exist on the planet our purpose we believe is to enrich lives through technology.

and don't confuse wit a tag line it is genuinely why we exist on the planet if you were to talk to any employee in this store, they do their job because they want to help the customer accomplish something. not for just a skew or a product, the customer wants to do something they want a better home office they want a better kitchen they want to entertain with their kids i think for our employees, really staying focused on the reason why we exist on the planet, differently than anyone else has been really core to our beliefs. >> to some degree, that has to explain why you have among the lowest turnover of any retailer. turnover being the bane of the profit existence. >> of course you have to pay fairly of course you need to be competitive. you also have to have an array of benefits that are specific to a multiple of needs, everything from mental health benefits to care giving benefits to paid time off for part-time employee, and you have to have a career

path and a purpose that every employee can tie their own work into it has to matter every one of us want to matter when we come to work every single day >> to some degree, that must offset that you're the showroom of amazon. that's past? >> i think we're well past that. and again, it's because when you really are focused in on the full suite of what a customer needs. again, not just a product and getting it there as fast as you can, but really helping someone with all their needs, it's just a different experience we pyle feel like that is our differentiated niche in the market >> so you had a great run because people started doing stay at home had to develop an office there are people now who are saying that's a bubble and it's been popped. do you see it that way >> thing are many permanent behaviors that we've seen during the pandemic we've done a ton of research that would say things like there is four times as much streaming content now as there was

prepandemic. there is more cooking at home than there ever has been there is more gaming, and particularly social gaming than there has ever been at home. and hybrid appears to be the model of the future. i'm not going work 100% at home. probably not going to work 100% at the office, and i'm going to need two setups for all those. >> and they should be equal now, because we realize the first one was ad hoc >> and not only equal, but you need those things to work together i need to be able to bring my work computer home and have it work on my home network and my home printer and i need to take my ipad to work so i can see the content while i'm in the meeting all of those things work together and you're going to want to continue to upgrade those. you shouldn't have two screens, you should have one ultra large screen that is easier on your eyes this idea of constant innovation in our industry is probably one of the least understood factors. >> and who should be my i.t. at home. >> not just yours, but maybe for your parents, maybe for your kids our goal is to take that burden off of you and be there to both

support you when things aren't working the way you want, but also to inspire you. many people will tell us our research would say most people don't believe they're getting the most out of their technology we can help you get more out of it >> talk about membership and total tech. >> total tech is our paid membership program as a reminder, $199 a year, and it's covers everything from support. now let me pause on support for a second that's not just break/fix. that is my printer fell off the network because it needs a firmware update and i don't know how to do it it's on all the technology in your home, whether you bought it from us or not on the tech you buy from us you get an included two-year warranty you also get 60-day returns, member pricing importantly, i've been asked a few times. who did you model this after we didn't. we built this membership program based on what we do uniquely incredibly well that overs don't do again, back to our purpose our unique purpose >> now we've got higher gasoline prices we have a fed that is determined to break inflation we have a lot of people who

right now are doing well because of stimulus benefits, but those are running out. what does that mean for you? what does it mean for best buy >> i think there is two things you can say about the consumer right now. uneven and unpredictable so uneven means yes, you have all those things but you have a very strong housing market, and yet mortgage rates increasing rapidly you do have still strong balance sheets, but you can also see interest rates probably rising and credit getting a little higher you have geopolitical unrest so you have this consumer who kind of has two sides of the teeter totter at any given point. you know better than anyone, every day that is changing for consumer what we said as heading into this year, we expected this year to be softer, especially after two years of elevated demand and we said specifically we expected the first half to be slightly softer because you are lapping so many things >> you made it very clear what the numbers would be, and yet some of the analysts still felt that you fell short on both sales and margins. i looked at what you said. you did what you said. apparently people must have

expected some sort of crazy upset surprise. >> i think what we try to go back to, you have to look at the culmination of time here over the last now just over two years. we've added $8 billion, 20% to the top line we've expanded margins incredibly, grown earnings per share, 62% and that fundamentally stronger position we are well ahead of the targets we set for fiscal 25 so even our opinion, even a slight step back, you're still way ahead of where you thought you would be and importantly, we believe this is the moment to invest in the business again, back to the purpose for us to continue to uniquely serve our customers, things like total tech, investing in the store experience, ensuring we invest in new businesses like health, we feel like now is the time for us to make those investments so you can continue that >> before we get to health, which is a really amazing compound in your growth. last night warren buffett took an 11% stake in hewlett-packard. how do the hewlett-packard computers move here and

printers >> i'm going to take a step back even from hewlett-packard. his investment, i can't tell you what warren buffett is thing, but i think his investment emphasizes our general point which is people are going to use technology more than ever, and they're going want to upgrade technology more than ever. we are already seeing upgrade cycles shortened for our customers in areas like computing and home theater so people are interested in this new tech in a company like hewlett-packard which is constantly spending billions of dollars in innovation that is exactly the space that i think will be interesting in the future. >> when i met you first, you mentioned that you took the big hit early on the supply chain. you weren't going to get caught. i think you uniquely do import a lot, but didn't have a supply chain problem. >> i mean, our team, full credit to our teams had the foresight to make investments. we started in 2017 because we felt like digital is going to continue at high penetration rates. and the thing a little different about consumer electronics, it hit right at the beginning of

the pandemic so our teams have been navigating supply chain challenges for the better part lot for go years they have deepened vendor relationships, they've deepened partner relationships, internationally and domestically the teams have really worked hard to navigate what's been spotty now we feel we're in a really good inventory position. there is still spots, of course, but on the whole the team has really navigated beautifully >> the health care issue you have is important. tim cook has said that's going to be his legacy what are you doing health care that has that kind of remarkable growth i think there is a few parts to health care. one is the quantity of consumer products around health care. condition management, like connected glucose manager, sleep management, hearing management even just connected blood pressure cuffs, ekgs, connected fitness. it's just exploding in products. that is our wheel house. that's what we're great at but we're also helping on the aging side there are more people who want to age at home with the help of technology and that's both connected devices that might have a button and a service that can help you if you need it

but sometimes it's as simple as a google nest that can help you keep an eye on a loved one that they can also use to ask questions. >> well, i think you've done a remarkable job a and the story here, great balance sheet, great dividend, great sales, great ceo, the ceo being corie barry, ceo of best buy. thank you so much. >> thank you coming up, time to hit the links? cramer goes for a birdie with the scratch analysis of golf stocks, next

thanks to realtor.com's home alerts we were able to see the newest homes on the market, super fast. so we could finally buy our first "big boi house." big boi house. big boi kitchen! big boi waterfall shower! big boi crawl space. big boi sold sign, big boi logo. realtor.com to each their home. ♪ today the 86th masters tournament began at augusta national golf club in georgia. getting lots of buzz this year because tiger woods is back for the first time after nearly losing his leg in a devastating car accident but for me, this is the day to highlight the golf stocks that

have pulled back dramatically after they peaked along with the rest of the market late last year i'm talking about two pure play golf equipment companies, cush net holdings, the holder of titleist and callaway golf that has invested in modern golf concepts that we have to hit upon they're very hard to value i've been a fan of these two stocks for years if you bought them on my recommendation, you have had terrific long-term games we get many calls from callaway particular it's long time for us to take a fresh look at these golf stories and also show you how to value companies thati like it. unfortunately, after many years of upside, both peaked last year callaway has come down more than 40% while acushnet 30% some of it is based on false perception some of it is justified.

golf seems to have run out of steam since last summer. at least as measured by the number of rounds played. after steadily rising for a few years, we started to see year-over-year declines including five straight down months from july to september. the first year of the pandemic, golf was one of the few safe ways to socialize. but once people started getting vaccinated last spring, that opened up all kinds of other sports too both acushnet and callaway make physical products that require metals, plastic, resin oh, man, all of this stuff has gone up in price so they're facing the same problem with raw costs, as every other manufacturer now freight costs, i think those have peaked. i do think that it's spurred many investors to take profits rather than take beatings. finally, there is a perception that the golf stocks were covid winners. for the last six months, those stocks have been totally out of favor on wall street i'm of two minds acushnet and callaway certainly won during the beginning stages

of the pandemic. so how are these two companies actually doing let's start with acushnet, which is a simple story. these guys haven't changed their strategies much as all headlined by foot joy for apparel, shoes and gloves and titleist for equipment like golf balls along with a number of smaller brands i know these brands. i'm not that much of a golfer. when you look at the numbers acushnet put up beat and raised quarters s last year, but then when they reported their fourth quarter numbers a month ago, mixed. while these guys delivered another big revenue beat, 33% sales up year-over-year, their earnings actually came in weaker than expected. we had a larger than anticipated loss while the four-year estimate was excellent, management had not so encouraging things to say about supply chain, headwinds. it makes me dizzy how many times i've heard this. 2021 was a terrific year for acushnet they fell off a bit in the last three months

given their long-term track record, i don't think significant here that can justify the 30% decline in the stock. sure, they got supply chain woes but they managed to deliver tremendous growth last year. only 15 times issue earnings i like that. it makes it as cheap as it been at any point in the last three years. in short, i think this is a great moment to take a swing at acushnet all right. but how about callaway darn, when it was just this, it was so easy. it's so difficult now. it's really complicated. well, callaway is a core golf supply business where they make apparel and footwear to equipment. over the years they've made a series of acquisitions that brought them into golf related entertainment or even nongolf categories for instance, at the beginning of 2019, they bought jack wolfskin, a premium european outdoor apparel brand. they put some pretty good

numbers. top golf is so much fun, focus on entertainment concept top tracer, that's a ball tracing technology used in most golf broadcasts these days, and world golf tour which is a golf game you can play on your smartphone callaway owned a stake in top golf for years, and then in late 2020, decided to buy the entire thing is the thing about this deal is it cost them a lot of money it's very expensive. at the time callaway had a 1.8 valuation and it was an all-stock deal so they didn't have to shell out any cash they had to create a ton of new shares i did not like this deal thanks to these moves, callaway has transported itself to more a pastiche of entertainment venues, media property, even technology they tell a good story of how all these businesses are complimentary. at the time of the top golf deal, they had line of sight to

one billion in earnings though they said it would take time because they issued so much stock in order to buy it, they took a hit the earns per share go down, down, and then down some more. more than a dollar per share in 2019 because of all that stock they issued, they're not expected to get back north of the dollar until 2024 i don't like that. this year the company is on track to make 66 cents per share. that's dilution. the company reported an unbroken series of strong quarters last year, and the most recent results, they also gave us an encouraging four-year forecast for 2022 but here is the issue. by making all these entertainment-related acquisitions, callaway has become less of a tangible business, more of a conceptual one. oh, man, you know how i feel about that the conceptual stocks all went out of style last december, which is why callaway shares have been annihilated here and it's hard to say this one is cheap even after an initial

decline. sill 34 times issue earnings, 20 times next year's numbers. you can make a better case using the enterprise value divided by ebitda, but this is a market that places a premium on ea earear earnings per share so forget about that long-term it has a pretty good growth story that said, it's probably not the right thing for this market now. the bottom line, golf stocks have been obliterated. if you want to be optimistic, especially in the masters, i like acushnet more than callaway, at least for the remainder of 2022. i need to good to mark in florida. mark >> caller: hi, jim i hope you can sleep well tonight without sweating. >> no, i can't -- well, actually, because the market went my way. and that just so people know, mark listened to the club call we did at 12:30. thank you for being a member of the club fantastic. >> caller: my question is about dick's sporting goods. it's highly rated. sells for a very low p/e of just

under 7. has a recent price target of 134, and is making money i know there was a pop today, but basically, why is this going nowhere? >> okay, it's going nowhere for the same reason that best buy was going nowhere and target until today was going nowhere. no sponsorship people are about to come to this stock and they're going to buy it and it's going to surprise you, because we're on the other side of the trade now. now that the fed has gotten serious on inflation, all these companies that have taken a beating on inflation, they're the ones to buy. bruce in louisiana, bruce? >> caller: jim, thanks for taking my call >> absolutely. >> caller: got a stock p-o-o-l. they make everything for swimming pools to maintenance, and even how to have fun in them i've owned this stock for a couple of years, and it's been excellent. with spring here, everybody who has a pool is probably spending

a couple of grand on it getting ready for summer but since the beginning of the year, the stock has slowly been evaporating in value i've been adding to the position because i have faith in the stock. >> right. >> caller: i would like to know should i stay in the pool or get out and towel off? >> that is such a well run company. i am really loathe to tell you to sell it it's just one of those stocks that peaked along with the rest of the market. when people decide they'd didn't want this kind of stock anymore, but it's all the way down. it sells a little more than 24 times earnings i see no reason to sell it i like it. it's got 20% growth. all right. the golf world is buzzing today. [ buzzer ] as tiger makes a run at the masters. the stocks in golf, however, not so good. if you want to be opportunist innic, take a hard look at

acushnet certainly over callaway, at least through the end of the year much more "mad money." with inflation biting at conagra, who is not biting into, i'm finding out how the company is preparing for the unknowns in this market. then warren buffett is making a big bet on hp, with shares soaring to an all-time high today i'll tell you if the rally is last and all your call, rapid-fire in tonight's edition of the "lightning round. so stay with cramer. with directv stream, i can get live tv and on demand together. watch: serena williams... wonder woman... serena... wonder woman... serena... wonder woman. ace. advantage! you cannot be serious...

get your tv together with the best of live and on demand. directv stream. now get $30 off over 3 months. ♪ ♪ nice suits, you guys blend right in. the world needs you back. i'm retired greg, you know this. people are taking financial advice from memes. [baby spits out milk] i'll get my onesies®. ♪ “baby one more time” by britney spears ♪ e*trade now from morgan stanley.

♪ on a day where the market was able to make a stunning turnaround, we also saw a reversal in the powerful bellwether for the challenged packaged food category i'm talking about conagra

brands, bird's-eye, marie calendar, healthy choice, many other brands a solid quarter in line earnings coupled with better than expected sales management did give dismal guidance for the current quarter and cut their full year earnings forecast not much, though initially the stock got hammered, but conagra told an encouraging story that allowed the stock to rebound as management talked about strong demands, new products, the stock finished up few cents. pretty good when you consider it was way down before it opened. so what can we learn here? let's check in with sean connolly he is the president and ceo of conagra brands he had a better read on the quarter and what's coming next it could be very different than what you think mr. connolly, welcome back to "mad money." >> hey, jim, thanks for having me >> sean, i'm going to take a different outlook toward you, and i know that you said once burned, twice shy on the call. but the stock is telling me that you are finally too conservative

about inflation. now i don't want to jinx you, but you know the stock didn't seem to mind when you said that there is more inflation coming >> well, jim, we have not been overly optimistic in terms of our inflation outlook so far this year, and yet the inflation has been higher than we expected, even though we've taken a fairly conservative approach to it bottom line is the fundamentals of our business are extremely strong we are growing we grew our organic net sales 6% of the quarter we're gaining market share our innovation is resonating strongly and it is an inflationary environment. as a manufacturer, you come to understand that inflation happens, and sometimes when it happen, it can be both acute and persistent, as we've seen lately the key in an environment like that to navigate it effectively is you've got to have strong brands, and you've got to have perseverance, and we have both and we just have to work through the mechanics of how this work,

really simple. we experience higher costs that triggers a price increase between us and our customers then about 90 days later, the benefit of that price increase falls into our pnl the key is we have to watch our volumes and watch elasticity of and in our elasticity has been very benign our growth has been strong interestingly, in three of our biggest businesses, healthy choice, bird's-eye voila and slim jim, we've experienced double-digit growth over the last quarter and volumes that are growing in the absolute despite the fact that we've been compelled to take these price increases. business is strong we just have to get through it >> what that tells me, the consumer in your documents you say it, is not trading down. not resisting the price increases. what does -- i know it says great things about your brand. does it also say that maybe the consumer is stronger than we think? >> well, there are two things in play here. one is the brand portfolio is working for the consumer the other thing is what really

came out of the pandemic a lot of our young consumers during the pandemic learned to spend more time in their house, get comfortable in their house, get their entertainment in their house. and interestingly, cook in their house. a behavior that wasn't such a huge behavior before and guess what they liked it. and they found products like our frozen meals portfolio that they love, our snacks portfolio and now that we've got an overall inflationary environment and they're trying to stretch their household balance sheet, there is no better way to do that than to prepare and eat meals in the home. that's really the consumer trend that we track most closely what's happening to in-home eatings. and in-home eats were strong during the early days of the pandemic but now in this inflationary environment, they've remained strong, and the eating occasions have proven quite sticky, particularly with brands that have been modernized like our brands we see these consumers coming back again and again and again >> let's take a look at what you've got loaded here ewe got cauliflower crust. duncan hines epic spice cookie

kit, voila baked meals from bird's-eye, act ii hot and spice it is. when you put these on your drawing board, cinnamon toast crunch, that they're needle-movers or are they just beachheads >> you know, what the consumer is a looking for in food are provocative varieties and flavors. and that's really what you just rattled off there. and a lot of it comes from the work we do to understand what consumers like and what their frustration points are interestingly, one of the innovations on that slide, jim, made me think of you today it's called a marie calendar's duos it came out of an incite that when consumers go to restaurants, many times they find two meals they like and they can't decide between the two. our solution is let's give them both maybe you offer up a toast stand da and an everything lad the on the plate and you a solution for your customers. >> that's a really good idea people like a combination. but if there is only two people,

they get stuck with that they ordered. i like that. now the parts of the component that are inflation, we had a fellow yesterday, on two days ago from uber freight who said look, jim, it's happening. the drivers are coming back. the freight rates are coming down it's the beginning and i thought of you and i said you know what anything is possible there there is trucking. there is freight there are drivers. i mean, can something go right, sean can something go right >> yeah, we're due for some green chutes, jim. and we are seeing green chutes in the transportation area but i tell you, we planned inflation for our fourth quarter to be up about 20.5% versus two years before this cycle started. we actually got 26% in a quarter. now i've been doing this 30 years. i haven't seen that before and that's why we have to respond to it. at some point there is going to be some relief but this is where the perseverance comes in. we have to take these responsive actions, which we've done. the brands need to continue to hold up, which they've done, and

then we'll get through this. many times on the other side of this we've actually got some pretty strong performance. >> do you think that at a certain point, let's say a consumer will say you know what? i don't need to buy bird's-eye i can buy the store brand that i would frankly never buy. i like bird's-eye. they'll say look, i'll trade done that ever going to happen? >> we haven't seen much of it at all to speak of in our categories we have a fairly low private development in the categories we compete in below the average for the food industry >> okay. >> and our frozen meals business, as an example, we really don't have an entry point competitor there that we interact with. but what we do believe is that even in the face of some of the higher prices that are in the marketplace right now for our brands, we're still offering a superior relative value versus the alternatives, which could be a low quality product. but increasingly, it's an away from home eating occasion that

is markedly more expensive than our food is, even at a modestly higher price so we're winning that total value proposition, even in the face of this inflation and the ensuing pricing that comes behind it. >> well, look, congratulations on keeping up with the inflation bear, because you've done a remarkable job and also, a lot of -- i'm going to go for a lot of -- they are my thing i eat alone a lot. they're perfect for me that's sean connolly, president and ceo of conagra brands. hey, sean, it's great to see you again. >> good to see you, jim. >> when you have a number where they talk about sky-high inflation, and you don't get sky-high inflation, this is one of those stocks you must buy "mad money" is back after the break. >> coming up, a storm is coming. give us a call cramer's got the answers to all your burning questions the "lightning round" is next.

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♪ it is time it's time for the "lightning round. >> sell, sell, sell. >> buy, buy, buy, sell, sell, sell -- [ buzzer ] >> and then the "lightning round" is over are you ready, skee-daddy? warren in south carolina, warren >> caller: boo-yah, jim cramer long time/first time >> oh, fantastic thank you. >> caller: wanted to get your wisdom on a stock that i've owned called apmr, been very good to me. >> well, i've got to tell you, it is very simple, it's got a

very cool technology, all sorts of different applications. the stock is up over time, but it sells at 29 times earnings. i'm not going to bless it, but i'm not going to tell you to sell it. how is that? let's go to aaron in massachusetts. arab >> caller: hi, jim, boo-yah. how are you doing, partner >> i'm doing well. how about you? >> caller: i'm doing very good the question today on uipath >> this is a great company we're not recommending stocks that have gigantic losses anymore. we just can't. let's go to joe in florida joe? >> caller: jim great to be talking with you thanks for taking my call. >> right back at you >> caller: i'm a member of your investing club, and i thoroughly enjoyed the call today. >> thank you everyone that joined and listened to that call, try to tell it like it is >> caller: hey, my question is on hertz corporation >> oh, look, this company is run by this guy steve scher.

he was a genius at goldman sachs. i can't wait to have him on our show and that, ladies and gentlemen, is the conclusion of the "lightning round." [ buzzer ] >> the "lightning round" is sponsored by td ameritrade coming up, nothing changes the game like a nod of the head from nebraska. what the buffett effect means for hp and your portfolio, next. ♪ ♪ ♪ ♪ ♪ [copy machine printing]

♪ ♪ who would've thought printing... could lead to growing trees. ♪

♪ sometimes you get the story right and the stock wrong. that's how i felt after watching hp, the pc and printers business of the old hewlett-packard explode higher today after warren buffett took an 11% stake in the business. hp flipped $5 and change, or nearly 15% as the oracle of omaha has gwynn his seal of approval it makes sense buffett loves companies that spew big dividends he adores companies that buy back their own stock aggressively every sing loress took over in november of '18. one more thing buffett likes low price-to-earnings multiple stocks hp is trading eight times earnings he clearly thought it was too cheap. i can't dispute any of this. but just the other day i went negative on hp because i heard a lot of negativity about the pc business after speaking to the ceo of a

huge chip maker that supplies the pc makers, i felt a lot more cautious because he said business had gotten weaker of late that resonated with me because i figure we were nearing the end of the work from home upgrade cycle. once everybody bias new computer for their home office, it's not like you need another one. so i turned negative then this morning we learned that buffett had taken a huge position and all that chatter disappeared. it didn't matter that we had done the homework, listening to sanjay, checking with other semiconductor companies which confirmed the same thing the pc business has definitely gotten weaker. but now that doesn't matter. you go against buffett, you're a fool just ask the people who shorted option on petroleum, the overleveraged oil company when it acquired anadarko for a huge price. at its darkest hour buffett refinanced the business at a low rate, saved it what does this mean for the broader market i think it tells you that many of these low mobile stocks might have a brighter future than we expected good companies with good products that return capital to the shareholders can always make

you money if they're priced at the right levels now what makes this doubly painful for me is that when i went to best buy this morning for my interview with ceo corie barry, i walked through aisle after aisle of really great looking hewlett-packard computers. she said they were selling extremely well thanks to work from home. heck, have i one i love it. terrific touch screen. but i'd done my checks i heard from suppliers that business was weak and i let that sway me. i still think the business is getting weaker, but it doesn't always lead to the right call. the irony, this time i would have been better off is i like the computer, so i might as well buy the stock. that's bush league thinking. but in case it would have steered you right. that's what is so tough about money management even when you do everything correctly, there is still a huge component that's all about luck. at the end of the day, it's better to be lucky than good if you want to go to the gaming tables with me and play black jack, you want to double down when you have an 11 and the dealer is showing six. it doesn't mean you win every

time if you draw a five and he has an ace, well, let's just say you're done buffett drew an ace. i followed the book to the letter and now i'm done i like to say there is always a bull market somewhere. i promise to try to find it just for you, right here on "mad money. i'm jim cramer see you tomorrow the news with shepard smith starts now. tomorrow the news with shepard smith starts now an urgent plea from ukraine and a stunning admission from the russians i'm kelly evans in for shepard smith. this is the news on cnbc it's going to be long slog >> a new assessment of the war, as putin eyes a new offensive. tonight, how the u.s. is helping ukraine prepare and fight back ceiling shattered. >> the yeas are 53, the nays are 47 and this nomination is confirmed. >> america's first black woman supreme court justice. the history made by judg