this but i will talk about the deadline the yankees are making. lockheed martin, too cheap in this environment. >> not sure if it will be enough but for chevron, the buybacks are enough to continue to drive this again with a major pullback at key levels. opec this week. >> my mission is simple, to make you money. i am here for all investors. there's always more to cover and i promise to help you find it. mad money starts now. i am jim cramer. welcome to mad money. i will help you make some money. my job is to continue to educate to teach you make money. this is a huge week for

corporate earnings. working lurking under everything is the labor department's nonfarm payroll report. it shows some job growth with no wage inflation than the fabulous -- booming -- exceptionally large wage increases then -- is going to be repealed. maybe that is why it dipped 47 points. nasdaq edged down 1.87%. the down was -- tao was down. it was starting on friday. because of the nonfarm labor report. hot number. a disaster. the fed may have to slam the brakes on the economy. even hitting us with an intermediate rate hike. my biggest fear. an intermediate rate hike in august. a number that shows even a hint of weakness, it

gives the fed an excuse to sit on its hands which is what we want. why? let's get through the cacophony of earnings. we are starting with caterpillar. this is often red-hot so listen closely to what is going to be sent. we have the ceo and it's a rare appearance for him. i think this is a new cat. that is with the times demand. is he up to? i think he is. we will hear from goober which gets more attention than it should but people are going out more than ever and i think this company will always struggle to make money until we get real self driving cars but everybody -- interested in goober. and then unless you are a bar, and i think you should think about it, i am talking about olson and coors. this is my favorite apple stock

after constellation brands. it has a real turnaround, as you will see tomorrow. i think this is an exciting stock that can go up over time. i think the answer is pretty good. our intel seems to have missed an entire product cycle for high-performance computing. wall street is worried about gaming a pc exposure and both are negative -- acquisition. aerospace, a lot of things. internet things. i am betting letter a letter and d will have a strong number. howard schultz is back at the temporary home of starbucks. but i will bet with him and not against him. we will see how much progress we make when they report tomorrow night. we know people are traveling. the clash of traditional versus

21st century. i think both are doing well but air b&b can turn its huge cash flow into actual earnings and it doesn't. the stock -- warren buffett see with oxly? judging by the heinous action of the oil stocks, one of the worst i have ever seen, it should be something long-term but oxly -- good number tomorrow evening because it's prices -- one of the most enduring themes of the covid era was addiction to video games. i bet they would do well. out of style wall street fashion show more than i have ever seen. jetblue tells us how to do it. and no one can explain -- spirit airlines. is it really competitive? i admire them but i'm confident

the justice department will try to block t. jetblue refuses to stop. i know they will try to solve the antitrust issue by trading to some other company but that will not be enough to -- antitrust issues. it is very good at pushing -- elliotts ballgame. not unlike what we sell with pinterest tonight. it was talked about it one time. on wednesday, this is what is so cool about this week. paypal, air b&b, starbucks. these are well-known names. these are all names you know, including cvs health. i expect a really good number. i have to address this. going to a drugstore is so horrendous with all the

merchandise under lock and key. i don't get my toothpaste and shaving cream from amazon. it is faster than ringing that but belt. i need help, i need help. what the heck is that? humor me. what will they do with all of that vaccine money? it is a -- people don't like it if it is just a vaccine. they want something besides the covid vaccine -- pipelines and merge them altogether. that would make it into a major. young brand, i bet they could put up big numbers, not so much for chipotle and mcdonald's. i like kfc but -- greasy but i like it. taco bell is okay. pizza hut has been disappointing. it confuses the mayors of the world who bet against the restaurants. these are strong companies who have taken a lot of market share from the port mom and

pops who did not make it through covid. here is a shakespearian question. one will the turmoil at under armour end? he cannot stay away. after the seal was let go in may the stock remains -- higher from its nine dollar perch. i cannot think of -- clorox reports -- ready to work because price increases seem to be sticky. can you imagine this is exactly what you want. it happens to general mills, kellogg, your costs go down but you raise your prices and then you don't -- clorox could be the -- leader and packaged foods but thursday we are going to find

out -- really is without truck that reduces weight and helps with diabetes. i hear it is crushing the numbers. they have become very tight about that story no matter how many times i badger them endlessly, i think the weight loss drug is enough -- we are going to be offering wall-to wall coverage. don't forget we have our monthly meeting which is always fun. a lot of self-flagellation because that is just two a.m., a complete masochist. i want to see -- huge position for travel truck. they had an amazing quarter. nobody cared because oil is generally 5%.

i think it can bounce back but the weak industrial numbers from china and europe are starting to hurt fossil fuel -- plummet. aside -- what else? americans keep buying chinese stocks no matter what. we can't stop ourselves. i don't trust any of the stocks but the ceo of apple, that big chinese consumption holiday was gigantic for them. i could trust chinese government. i like it ali baba barbecue but -- it is called a risk factor. a deal that is so filled with humor it is frightening, warner bros. discovered it will be anxiously watching this gigantic load shutdowns coming or muddle through? we will also see how richly valued stocks are doing with -- sellers jumped all over.

as a matter of fact, it is a pathetic thing. the stock has been crushed like the rest of the cloud software cohort. that will be the signal that the bear market in cloud computing -- eight months is ending. right now is where it lives and so do you if you are a shareholder. that tailspin brought the stock down more than 70% from its highs. that's a lot. competition is heating up. jordache salutation is too high to vest to -- valuation is too high to justify. the stocks were cut in half. as these -- successful, draft kings need every state to follow in their footsteps and a lot of groups get together but against each other which they have not done. i put this in either note.

the cannabis aficionados. i mentioned this earlier. i like -- disappointing as the stock is ever been even though everyone tells me it is a lot of fun to be involved with the product, it is time to see how money could be made. -- used to be a powerhouse. she is now the cfo. i don't know if anything good can happen or if you just stop the bleeding. if they could just figure out how to have the proof when you have a can of cannabis you cannot figure out what the proof should be and they are upset about that because they don't know how to say whether you are drunk or not. true story. bottom line. no matter what it is the employment at 8:30 a.m. friday that matters. everything else pales including

the pale ale. could not resist. the inflation picture is the whole ballgame. i will take questions. nicholas. >> good evening mr. kramer. thank you for taking my call tonight. i am doing well, thank you. today is the first day of my retirement. >> how can i help you make money in your retirement? >> i have been watching your show for about 10 years now and i would like to thank you and all you do for you and your team for us out here. my question to you is with the pe of 3.5 and down a little more than 50%, macy's and toys

"r" us all of their stores. what would be your thoughts if i was to get in now and maybe hold onto it for six months or year. >> i have to tell you forget the toys "r" us because that is a lousy company. i will tell you i think the idea that -- is true part and parcel from the bear market. i would say that it is worth investing at $17. i'm giving you the high sign and congratulations on retiring, which will probably never happen to me. it didn't happen to my dad. it is the employment number that is coming up friday that matters. everything else pales in comparison. the chips and science act, semiconductor thing, is on its way to the president's desk. i'm learning more about the highly anticipated legislation with none other than the commerce secretary general monday.

what a hero. to rising commodity costs and supply-chain concerns -- second quarter learning more about top brass including a hacking that they did not -- travels back. bigger than ever. how are they making so much money? i'm talking to the former cfo of oldman sachs, so stay with cramer .

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turns at washington can still get things done. congress tested -- federal funding to bolster -- semiconductor manufacturing. secretary of commerce, gina m. raimondo, has been behind this thing from day one. we talked to the secretary about her amazing efforts that i think will be like a -- moment where in the 60s when we fell behind the soviets and technology we powered right back from a partnership that ended far ahead of our adversaries. take a look. madam secretary, congratulations. i have to tell you i know it is -- indefatigable. congratulations. >> thank you jim.

it was a team effort but we didn't give up, there were so many ups and downs, mitch mcconnell tweeted saying republicans could not go for it. many ups and downs but we are not giving up. eventually we did. a huge thank you and obviously to the president, it was his leadership that made it happen. it was a very big deal for the country. it sure is a national -- allows us to create jobs. right now you say to yourself how could germany allow themselves to be so dependent on russia for their oil? that would've been us five years from now if china had said taiwan could not -- we would've said how on earth could america allow themselves to be so dependent on taiwan and now it will read that story because we will make stuff in

america. it was a great thing. >> it was incredible. i know a lot of people snickered about -- you and i both know 90% of the chip matter to our country's defense are made in taiwan where you could argue that we don't have any control over the country of taiwan and by her own admission, and yet if it went down then our army and navy and our air force would all be finished. they would not be able to have any replacement parts. >> absolutely. i actually think a real turning point was a couple of weeks ago when -- national intelligence and deputy dip defense secretary and i did a briefing for members of the house and the senate and we provided them with a lot of classified information relative to what you just said, like national

security threats, and i can tell you those briefings lasted hours. they were well attended. by republicans and -- people came out of those meetings with religion. they had their holy moses moment. we have to get this done for national security. that was a real turning point. >> i knew from the beginning we had to do this but you had 250 meetings with businesses and outside groups. 380 were calls with lawmakers and there was no way you were going to be -- >> to be honest a lot of those lawmakers ended up taking my phone call that is fine. >> i know there is a lot more to the bill. there are some incredible things that are being done for science. maybe a catch up to others who go ahead of them and also a lot that will allow you to have centers of technology excellence. what will those look like? >> it is an incredible

opportunity. you and i talk all the time about the chips which is huge but there are billions of dollars for basic research and the semiconductors and the materials and then there will be the hub, technology hub which will be really public- private partnership between companies, governments, universities, to advance research and development in particular areas and that to me is almost more exciting. we have to get back to the business of out innovating china. right? it is not just protecting ourselves from china defensively but how about running offensively and running faster? you can imagine collaborations between great u.s. research institution, university, some of these fundings to move forward to design of trips and

that is really exciting to work on that piece of it. >> i'm thinking this is a split moment for our company. you called it out when the russians were ahead of us in the space race and you called it out when the chinese were ahead of us and technology. this will be a defining moment for our country if everything goes right because anyone can keep pace with the united states with this commitment. >> this is a sputnik moment. there is no doubt in my mind. semi conductors and the technology and supply chain of semi conductors underpin artificial intelligence, quantum computing, cloud computing, and so we have to dominate in this area and we will. and if we execute correctly so it is hard to overemphasize this. hundreds of thousands of jobs

-- so many manufacturing jobs -- which is fantastic. >> i can't say enough about this. in the darkest moments -- would fail and if we did it would be an emergency situation. the chinese take over taiwan -- >> yes, failure is not an option. i did not know how long it would take but failure was not an option. by the way, -- vote and you saw it in the house. every single democrat voted for it in the house. senate. 64 votes. huge bipartisan vote. that tells you something. to me honestly it makes me -- america and our politics which when it really matters we can

come together, get things done. >> it takes perseverance and leadership -- thank you so much. we will be right back after the break.

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geico got hit by a cyber attack and more importantly crop prices have pulled back although you would not know it from the supermarket. in reported -- is this the first step for larger comeback or do we need to worry? do we need to worry it is the last food quarter? let's take a closer look. eric is the ceo of agco , also the chairman, welcome back to mad money. >> always great to be on mad money with you, jim. >> so eric, i have to throw my hands up in confusion. the world does not have enough food. i would think this is the greatest time to be in the business you are in and you people tell me look out. if it weren't for pricing, unit sales are down. it is weird to me. i am just confused.

>> well, if we simple fight down it is really all about supply and demand there is just not enough grain in the world and there won't be for the rest of this year and probably into next year. we have to have a tremendous harvest this year and next year to close that gap on the grain gap. that is the demand side. the marketplace industry has not been able to supply enough product to the farmers. we have the biggest order bank in the history of the company. it is up 30% this year compared to this time last year in europe and 20% up from last year in the u.s. lots of demand but we just can't build it all right now. that is really the big story. >> is this once again the supply chain -- semiconductors, steel, everyone is sick and tired of hearing it is -- no one understands what that means unless you are a -- person. >> right. in general it is largely the same story we have been dealing

with were covid set the shock in place, this massive rebound of demand globally for everything in terms of consumer demand and so suppliers could not keep up and they weren't able to produce as much as they like because of covid shutdowns. we see some relief happening now in the second half of this year and the key commodity -- semiconductor chips and we put lots of technology in all of our products. semiconductor chips are in essentially everything we build so that is our biggest challenge remaining but overall the situation is getting a little better. >> all the precision stuff, as well as -- semis or you would be able to churn out the money. >> that is absolutely right. the demand is the highest for that type of product right now and that goes back to the supply and demand situation. farmers who have never been under more pressure to produce more and get their input costs are up so they want to do with

less inputs not to mention the sustainability, so farmers are getting squeezed and the only way to solve that equation is perception ag and technology. we expect our precision ag business to be up 30% this year and expect our premium brand that carries the most algae, our event brand, doubled in the last two years and that is in north and south america where we are growing, we expected to double again in the next five years so those two businesses are growing strongly. >> i know you are in ag equipment buyer but why haven't prices at the supermarket come down if grain prices have come down so much? >> well, the value of what you buy in the grocery store, a very small portion of that is the value of the grain. a lot of it is the logistics and all of the other elements of getting it from the farmer through the processor to the grocery store.

with high energy prices a lot of the cost of vision is still stuck in the channel. the come down over time. >> so we have class coming down, steel coming down, shipping coming down and that we might have the rice right price structure. you had this weird cyber attack. did you have to pay to get the line started again or use bitcoin? >> we were asked to pay. it was around somewhere attack. we did not pay. we did not pay one time and we have all these technology people in our country. company. lots of i.t. folks. we worked our way out server by server and system by system and we brought it back online. we got some helps help from out below -- did not pay one time. >> do you have a palo alto in their? >> we called them and they are a great partner. they were an outside partner and they were excellent to help

us get this recovered and relatively rapid time. >> just let you know you are terrific. i need to know, what do you think happens with ukraine? we know that a ship with 26,000 tons came out, grain. what kind of harvest are we going to have and are you allowed to sell there? >> in ukraine we are still selling. we are selling service parts and machines. absolutely. we are trying to do everything we can, giving an extra effort to make sure we are supporting that effort market because it is under stress. russia is a different story. in ukraine we are doing everything we can. the predictions are still volatile but the expectation is the harvest will be half of what it would've been if it wasn't for the war effort. they got some planting done and so on so the problem is most of the grain storage is full from

last year. they were not able to export hardly anything in the last year and that one ship that came out if you do the math you need about -- of those ships to get out to be able to get the grain out of there that was from last year's harvest not to mention the grain from this year's harvest. >> i was sure hoping for better numbers. south america. it seems to be incredibly strong. is soy going right to china? what is happening there that is so good? >> south america, the whole industry is built for export so they will continue to bring more land on and add more and more land into two or three crops a year so right behind the combine that is harvesting the crop they will plant the crop. we took our whole board down there to be able to experience farming and brazil. so they are full throttle trying to increase their productivity and efficiency to

be able to supply china and the other parts of the world because grain is essentially fungible wherever there is demand. >> you are the man when it comes to the most complicated area of our world because food is the biggest ship shortage and agco is doing the most to stop the shortage. thank you for coming on that money. >> thank you so much. >> that is eric hansotia, agco's ceo. i hope he you listen to what he is telling you. it is not the grain or what is inside the box, it is the box itself. mad money is back after the break.

>> what the heck do we do with this stock? the big rental car outfit and the stock is been clobbered. it's a covid winner. last thursday hertz made the -- look like morons when reported another excellent quarter, coming on the heels of a $2 million -- more than one quarter of the share gap. 15% correct late last thursday. 6% of product. traded like we are headed for a deep recession and the reality may not be nearly that bad. the value may be good. is it truly the bottom or do we need to stay cautious? let's check in with the former cfo of goldman sachs, the new ceo of hertz global.

welcome back to mad money. >> hey, jim. how are you? >> i am blown away by what you are doing. i have known you long time. was hertz always a bad company and you came in and made it great? you know this thing was never anything one to invest in. what happened here? >> well, i think hertz has been a company of real talent, not particularly managed the way it should've been, but we have people in the field who have been in the field for 20 to 40 years and there is real skill in this business, just needed to be managed and thought about as a risk business and equally between buying and selling cars we have a real customer service proposition to offer to our customers and so i think the time is now for us. >> you started with the idea of the buy and sell and you basically say -- these are securities and it is an easy

market without a lot of friction. can you describe that because that was a brilliant analysis of this company. >> sure. you and i talk about at this core this is a risk business. the commodity is the car and would buy and sell them and in between we have a very big business that we need to focus on and think about the customer and how we want to serve them but at its core it is a risk business and so we need to manage it that way. we need to think about whether the fleet is genuinely inside were demand curves are and my view on this is we have a free option in this industry and for this company. we can think about where demand is. the new car market that the automotive manufacturers provide us will serve as the baseline. we want a young fleet to serve our customers, but that marginal demand can really be served and used car market -- of the used car market is 12 or 14 million cars a year it is 80 million a year.

my view is it it is a deep liquid market and we can -- marginal demand that is there. and we need to think about the fleet as a risk proposition. >> you also have been recognizing that a lot of corporate clients are demanding cars that do not use gasoline. if you are viewing microsoft they are all about saying you are scope 2. you have to protect us. could you buy every tesla that tesla makes? >> well, can buy all of them but those that we have are being put to superb use. what is happening with the electric vehicle, and this is the first mover edge is we are deploying them to three customer channels. obviously -- user customer is looking to get it in no better way to test one then to rent one from hertz. the corporate market have their own carbon footprint objective

themselves and they want to put their employees into electric vehicles to fulfill that obligation. and obviously we are very big with ridesharing and we are putting electric vehicles in the hands of uber drivers and otherwise. in fact, 15,000 uber drivers have used electric vehicle and since we started with electric vehicles, we have engaged in about 160,000 transactions, so this is a big move for us and it is heating demand and leisure, ridesharing, and in the corporate space. >> you have been incredible at trying to figure out the actual capital structure. you bought back a huge amount of stock when nobody believed. you are still buying back stock and i think -- corporate has not even kicked in yet so are you going to stand there and buy -- realize your stocks are cheap? >> no, thing the capital structure is first we have to

think about the investment we are making both in the fleet. we have been talking about that and not fleet, so technology we need to invest in to improve our customer proposition. when we are through with those two, fleet and non-fleet, we think about how we return capital back to shareholders. the buyback has been a very effective tool. at prices near or where we are, every $500 million is 7% accrued -- market which we have been operating and the success that we have had and the cash that has been generated in the business we have been able to accomplish all of that. invest in the business, both fleet and non-fleet and easily buyback shares on and accreted proposition to our shareholders. >> after quarters and conference calls i thought it was not good. i have never seen the team happier. is this it for you? is this the right move as ceo of the company the people did

not believe in? >> well, i spent nearly 30 years of goldman sachs and enjoyed them the last few years as the cfo. this is a super interesting business with an opportunity to make for a great company that fits underneath and you and i talked about this, a phenomenal 100-year-old brand, the stands for lot and our customers should expect it. there is a real opportunity under that brand to build and rebuild a great business. we have great talent, supercars, and i think the future is bright one for hertz in the context of what we can do with technology and filling out a big business so long as we think about it in the context of it being an asset management business. how do you manage risk, where do you size your fleet. >> i never in 40 years of investing wanted to buy a share of hertz and then you got there and made these changes. congratulations. great job. >> thank you, jim.

>> ceo of hertz. stephen scheer. this guy is a winner. take a look at that stock. he has made this company work. that money back after the break. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business. ♪♪

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>> the lightning round. are you ready?

let's start with patricia. >> hi, you are a great guy. >> thank you. hope to see you thursday at the investing club. what's going on? >> i wanted to see what you think of du pont? >> i will report no in less than 24 hours. they report tomorrow morning. how about joe? >> jim? baby. >> first time. >> my question. donald laboratories. >> let's go to kelly. kelly? >> thank you mr. cramer for taking my call. my stock as -- is it a buy? >> i don't like -- retailers.

don't eat anything costco. let's go to neil in california. >> hi, jim. i wanted to ask about wddc. >> a lot of their business comes from flash and flash will not be that strong so i would say avoid it until we see what they say at the end of the week. let's go to harry and florida. harriet. >> hi there jim, how are you. >> i'm doing fine. >> my shares of boise cascade are finally turning around. i'm wondering what your thoughts are long-term of the stock? >> a very inexpensive stock. i like the business but the estimates are too high. so do not buy it -- look, i've got to do some more work.

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in this tricky market made advice is to stay the course. why? because historically staying the course is the right call as long as there is nothing cataclysmic going on. and even then, -- long-term. it took a few years but the market bounced back from 2008 and anyone who gave up -- felt like a fool. right now the bulls and the bears -- fighting over whether we are in a recession or not. i think that alone is a good reason to date -- people cannot agree the economy -- one side

or the other. we already expect those pockets to widen, not shrink. that means negatives are baked in. even if we have a harsh recession it will not be a financial -- 2008. you need to stay in. what makes me so confident? we are now seeing bounce back of impressive proportions for the ages that i can't even recall, exhibit a is walmart. i am no fan of walmart. i am to the point -- we sold our remaining -- we are concerned about a more lackluster economy -- can't seem to afford -- at the same time. two quarters in a row. dropping that bomb last week about -- walmart shares have erased all of their losses.

so why not get out of exhibit b chevron? this is -- what i like very much. it soared in the third quarter jumping from 150 to 163. this is one of the largest companies -- 13 points? if we're in a bear market those positive numbers would be nothing but they mean a great deal. in a bear market you ignore all of the positives of these bounce backs tells me this is a forgiving market and on the bare side it -- better in the case of walmart. take advantage of the strength and do some selling for companies that you don't really like -- at a higher price you deserve. we bought procter & gamble -- i believe in the story. i believe they can recover -- sound like they will stick.

great news for the markets. it is not nearly as bad as it looked -- what happened? the stock jumps 3%. they owe nothing nothing. that is forgiveness. stocks telegraph all sorts of things. you need to be able to read the market. right now the market is saying sure, there might be -- don't get stocks rebounding like this after they have been slammed. in that scenario stocks can stay down and rollover or even play dead which brings me full circle to the month -- best month of since november 2020. surprisingly better than expected. the media -- controlled by the bears. it is their nature. they are traitors. they are doubling down on their negativity right now.

that would've been a great move last november when the market was near the highs but down here i don't think so. i think it is time for the bears to declare victory. right here, mad money. i am jim back here tomorrow. the news with shepard smith starts now. the president will address the nation live in the south. i'm shepard smith and this is the news on cnbc . dozens of people killed during historic flooding that started five days ago. >> there are hundreds of unaccounted for people at a minimum. >> the rescues and the heartbreak. >> my new home i bought for my four children is gone, so i had to start from scratch. he is the texas man who trie