tv Mad Money CNBC November 1, 2022 6:00pm-7:00pm EDT
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despite the environment. >> speaking of the astros, are you watching the game tonight, mel? >> yeah. >> i'm sure. >> definitely. high on my list there. as soon as i get home, i'm going to turn that on. >> mattress mac. >> thanks for watching "fast money. "mad money" with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cry me-- cramerica my job to the just to entertain but how about context? how about understanding? call me 800-743-cnbc tweet me @jimcramer. we're at the moment where bad
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news is good news but still bad. we want to hear about layoffs because it means the fed can ease up. but we don't want to get laid off ourselves. welcome to the living hell that is a true fed tightening cycle it plays out every day including this one, the day before a fed meeting where we find out what is going -- really going wrong the dow dipping 80 points, s and b declining and nasdaq tumbling .89%. let me give you examples this morning cramer fav intuit announced a hiring freeze in credit karma because lending is slowing down so people aren't checking their credit scores around the clock anymore credit karma is the jack of all. they can get you approved for loans and identify credit card fraud and show you how to get a better credit rating nobody wants to borrow aggressively because they're afraid of losing their job
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last year you might have locked in 3% and change you can't lock in seven and change now and it may get worse after tomorrow's fed meeting we had a fist full of rate hikes and preparing for a few more that brings me to the bad karma that credit karma ranked up. this acquisition looked brilliant in 2020. it was among the fastest growing units and now go to the game and i don't mean greatest of all time they make the best small business software in the game. you can't operate without quick books and turbo tax and even after seeing its stock go down so much in the morning, guess what credit karma didn't hurt the company at all it came out after the close and reiterated the guidance for the quarter and the year the stock reclaimed the whole loss but you know what? trust me as we go forward from here,
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there won't be many comebacks from the blowups you see, once again, like other times when we're fighting inflation and recession at once, this is a very different market. when there was a lot of free money sloshing around, you wanted to know how much free money you could get. that's because it's now closed so why bother to figure out how much you can't get in other words, this market is a living mine field. you can't take a step for fear that you might land on the next in intuit believe me, when the fed tightens again tomorrow, they will begin to have wland mines galore circle the wagons around fang and microsoft because they were great secular growth stories that could buck any tightening cycle. that's how great they were
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doing. unfortunately, that's no longer the case these days we have enough smart phones, the cloud is just old hat, online advertising business has fallen apart, personal commuters are in such low demand, we can use them as book ends how about that how many p.c.s do you need i have one they feel like the phone books of the current era if you don't know what a phone book is, google it or ask your mom or dad facebook isn't facebook anymore. it not even instagram or reels or metaverse. >> don't buy, don't buy, don't buy, don't buy. >> if years, that's a reference to an old tv show. for years we figured enterprise software would never slow down turns out it was the fed's easy money policies software needs pepto
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>> upstairs. >> i like to chug it not bad. how bad is it? you know how i said intuit turned out to be a land mine more than a decade ago i took a trip i went to the golden heights that border between israel and syria. when you get there, it's a little daunting, frankly you see a sign every few feet with a skull and cross bones and the word mine. to me, enterprise software now seems like it resides on the wrong side of the golden heights. these companies feel like they do the same thing using cloud base software to improve pe performance while keeping it safe for cyber thieves and code free sometimes i wonder if they'll stay on the wrong side of the goal and until they merge. one good thing i can say about cloud software names is they're not semi conductor stocks. chips seem to be in glut everywhere i thought some were so good they couldn't be stopped but that was naive.
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turns out, the best chips were so good they were banned from c selling in china two steps into the syria mine field and you're on intel. good things to say this evening but we need to know more before we see if it's demined gaming daytime precision bombing. nighttime saturation bombing and theyhave the edge on spacs the spacs are mines being carpet bombed around the clock craters everywhere if you want to avoid a mine field, you have to go to the new leaders of the market like health care. leaders like the oils. leaders like the financials that lay off people and stocks go higher, not lower. buy the industrials to travel and buy consumer packaged good stocks with commodity costs coming down. that's why i keep suggesting you look what you're doing in the investing club, the cnbc investing club here is a good one we like -- you like beer i had free beer once at the bar.
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people like free beer. we like the k constellation brands my work shows that when you go into a recession, beer conception actually rises. at the same time raw costs like aluminum and glass go lower. that's my stock for this moment. stz. how about lly? eli lilly on tonight and a boat load of drugs and even better for obesity could be among the greatest sellers and the best of all time without it, missing pepsi co, you don't need a weather man to know when it becomes the tailwinds for margin improvement.
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kraft, kellogg, proctor and gamble, they work. only general mills has run too far. we're seeing high profile tech stocks come to levels where it may be interesting i like the low price ratio of alphabet i can make a case for it same for service now it's bad enough hitting a mine like intuit when you thought you were in a safety zone. much better on stock in your neighborhood and think about johnson & johnson. not the baby powered that's abby med. and for a great deal of money. and it didn't matter to the stock. j&j has so much cash it didn't ding the balance sheet breaking up into consumer p packaged goods i want and a faster growing medical med company and pharma and drugs, which i crave.
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the brothers johnson have karma, good karma no need for credit karma, you have johnson karma here is the bottom line. get into the fed's tiegghtening cycle, you have to think i can't step here. i can't step there go the other way do better. stay out all together. never know you might make a wrong turn. jack in new jersey, jack >> caller: hey, what's going on, jim? >> jack, i don't know. i'm trying to get my arms around this market, it's not easy. >> caller: i hear ya, i hear ya. jim, aulta beauty survived they had a curb side pickup and improved online ordering and added rewards program. do people know they added salon services and how much can that add to the bottom line >> they had it for a long time i walked out thinking i looked better in the dark ulta is terrific and i like the way the ceo looks and price
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point. got to tell you, ulta has room for literally hundreds more stores, hundreds remember the brothers gonjohnso. on "mad" tonight, special things, travel trust name eli lily and reported better than expected sqquarter and people sl off anyway there is no way of accounting for wrong. you know who i'm talking to? the ceo of kroger acquiring albertsons with a $25 billion deal digging into the details and then an airbnb we'll break down the numbers and find out so i suggest you stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question?
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tweet cramer #madtweets. send jim an email to madmoney@cnbc.com. or give us a call at 800 800-743-cnbc m miss something head to madmoney@cnbc.com. space. the boundary of human achievement. the new frontier. ♪♪ eh. ♪♪ it's not time to escape. it's time to engage. it's time to plant more trees. hoo! ♪♪ time to build more trust.
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all right. what the heck just happened to eli lilly? this stock is a big winner up 28% year to date but this morning reported a quarter wall street didn't like lilly beat the earnings and cut the forecast siting currency headwinds and charges related to research and development spending the insanely strong dollar is lethal i think the sellers overlooked keypositives like phenomenal
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initial sales results from the new diabetes drug that will be approved as anti obesity treatment. i'm betting that this is a buying opportunity but do not take it from me. let dig deeper with the chairman and ceo of eli lilly welcome back to "mad money." >> great to be with you, jim how are you? >> i'm good. thank you so much for asking now, i first want to get something out of the way because i know it's what people focused on and not what i focused on or you focused on there was a guidance cut you have to do that. i want it to be put in the context how well your company is doing, if you don't mind. >> yeah, we did cut the guidance today after hitting, you know, our operational met tricrics and underlying business looks great. in the summer the foreign currencies we have a big overseas business, we're downgraded substantially and reflect the current spot price in the forward guide in a $300
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million down on revenue and most of that flowing to the bottom line in q 4 but the underlying fundamentals of the business are really strong. we got new products, 70% of our revenue are relatively new products and grew 24% in q 3 in constant currency. really strong operational performance. >> i'm glad that's what you brought up you have a terrific deck you've been the most transparent with an update on key growth products you have franchises that are probably the best in the world including diabetes and cancer, brain, because i know you've done great brain work but we have to talk about obesity too i want to talk about the drugs give people a sense where you are in terms of owning the markets and what could be the future for eli lilly in obesity. >> yeah, well, so going back almost two decades, jim, we
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launched the first hormones that your stomach and gut produce when you eat with energy uptake and calories and we've learned through the years that after that first one we lost a second one and now we're on the third dual acting. it mimics two hormones from your gut. it's called mounjaro that these drugs can have a profound effect on the control of diabetes which is the current indication and good glucose not seen before and pretty dramatic weight loss in patients with diabetes and further, we have a series of face studies on going in obesity. this would be for people with or without diabetes with a body mass index with two comorbidities. you saw the results where patients at the highest dose
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lost 52 pounds in a year and a half compared to five pounds on pla placebo. a profound new way to medically treat weight lose in a zone only previously achieved by surgical intervention this is under review at the fda and we hope to get it approved next year. >> there were some people that felt maybe there is something when you say fast track you announced today that would say we'll be able to take it the fda has been very careful on weight loss. i felt when i read your comments you're on schedule from where you said and that's absolutely terrific because we want this to be as safe as possible. >> yeah, that's right. there say long history we can remember weight loss drugs in the past that were pulled off the market or had significant safety concerns and i think the fda, which is their job to promote the public health but also to protect it, for esee the drugs might be widely used
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they asked us for four studies to complete a submission they've actually narrowed that to two so we're actually a little ahead of schedule in time and the scope of the original submission but that's based on the strength of this first initial study we have, which data looked very good from a safety perspective and of course, the efficacy a potential game changer for people who suffer from chronic weight -- excess weight. >> some people felt the drug saying maybe it is cannibalizing trulicity's growth maybe you won't have enough medicine and had to make a lot and then there was no c cannibalization. >> this is in the same exact
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convenient delivery system that patients and doctors enjoy it has a generous access program. already in 20 weeks, mounjuro is the leading in the whole diabetes market passing our own trulicity but trulicity held well they are coming to the class for medicines that weren't working well with diabetes that's great news for us as we look forward on the outlook. >> one last question, because you did bring it up in the conference call, there was renewed hope for an alzheimer's disease treatment that i want to be clear because this is a drug -- this is an illness you and i both know are reluctant to talk about because it's so horrible you brought it up. you have possibilities, things seem on track. weuy biogen was fortunate
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enough to get through. i know it a difficult one but you did give us an opening maybe there would be hope here. >> yeah, thanks for raising that, jim. we're really passionate about advancing medicines that can help people with alzheimer's because we've all been affected by this disease as i'm sure your viewers have it's the only reason seniors die in america we don't have a disease modifying drug we need one. we've been working for 30 plus years to find something that could help we think it is going to be that first medicine but we have to prove it and i think the last time on your show we talked about the phase two results, smaller study, the first positive study in all timers that hit the primary end points actually, a competitor announced a larger study that hit a positive end point from east
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side and that's great news for the field as well because i think the field needs confidence that addressing the plaques can reduce it. the study is fully enrolled and we expect results next spring and in the interim, we have submitted for an accelerated approval based on the phase two study we talked about. the data will start coming quickly here and we hope the middle of next year we'll have definitive proof this is helping patients and that will be a great moment for the company and people that suffer from al timers >> look, my large position in the trust and because i have so much trust in you and your team. thank you for being on "mad money. great to see you. >> thanks for having us on. >> that's chair and ceo of e eli lilly. coming up, two big ingredients, one mega merger.kro
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diminishes wrinkled skin in just two days. gold bond. champion your skin. buying albertsons it could create a nationwide power house and the biden administration kroger has great arguments mainly there aren't many areas the stores compete with albertsons it could be difficult to get approval but it could be great for shareholders and customers can they do it let's look with the chairman and ceo of kroger to get a better sense why he's buying albertsons welcome back to "mad money." >> thank you, how are you? >> i'm good.
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sorry about last night i know you follow sports let me get right to it i think that this merger as i said on my show is terrific for customers and for shareholders there is a perspective in washington that perhaps any mergers are anti competitive and you showed me without a doubt the possibility on the eve of a fed meeting you could help bring the cost of food down to many amer americans. >> absolutely. if you look at the track record for customers year after year after year it provides goods for a solid union for more job security and really allows us to compete against the large non-union competitors so we think it's a win for customers, we think it's a win for associates and the communities that we're in, as well. >> i know that synergy is an overused word.
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i see a possibility of three, four, $5 billion over the next decade possible >> the commitment we've made is a billion dollars and obviously, we're focused on achieving that and that number is net of the invest ments for pricing and in terms of the customer experience we've assumed $1.3 billion investment for customer experience over the next three years. so when you look at all those things together, it allows us to have a bigger scale on technology it also allows us to work from a supplier standpoint to negotiate pricing, as well so for us, it's really all those things together. obviously, both companies have a strong track record of merging and being able to bring together different brands but the same similar culture, same similar value and benefit the customer. >> so let's talk about it. when i first saw the merger, i was surprised. the footprints are not that much
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of an over lap you would be creating a national company i think competes against walmart and costco that's how i look at it and yet, i think that some of the authorities are saying no, there is way too much over lap can you describe how much there really is versus say the nationwide competitors you've been against if you look of bviously throughu the process, we have world class advisors helping us and sitting down with the ftc and interested parties to cooperate and have that dialogue. but the point you made is absolutely true. when you start looking at a trade store by store, the over lap isn't nearly as much as what somebody would assume and when you look at it, it really does provide a national footprint we would be in 48 states and serve 85 million households and it really does give us the scale to operate against, you know, as you mentioned, you know, walmart, costco and amazon from a technology standpoint and
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really allows us to serve the customer in a seamless way. >> you mentioned the ftc there are in a couple markets for instance, seattle and denver there is over lap, 100 to 375 stores the ftc decided that it is not good to create so-called spinco. i won't work you have a company create that can compete. the assistant attorney general wrote specifically about how situations like this don't work. both referenced the fact safe way did an acquisition with albertsons and within five months, the spin co went under what are you prepared to put into spinco to make sure you have a real competitor after you're paying out a special dividend that could really help make spinco stronger >> when you look at spinco, obviously, the experience that happened with other transactions was reflected in terms of making
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sure that we set up spinco, if the stores aren't sold to somebody else to make sure it's a strong viable competitor that's well financed with amazing management where day one it's a competitor just as strong as what's in the marketplace today. so all of those factors are part of it and we feel comfortable it will be a strong viable great competitor. >> well, i know senator elizabeth warren for one, not a fan i understand that. different views about these things but she directly talks about the idea if there was not a such special dividend it's possible that money could be used for employees, raise their wages and for spinco what do you say about the special dividend for shareholders at albertsons >> something albertsons was planning to do regardless of merger
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obviously, if you look at during covid theye ehad incredible success and had cash flow. the dividend is something that their board decided before hand and they would have done regardless of the transaction. >> do you think, can you give any assurances of the ftc and have you spoken directly, not just submit, spoken we will not have a safe way hagan problem where hagan got a bunch of safe ways and went bankrupt within five months. have you talked directly to anyone in the enforcement or at the highest level of the ftc or justice about this deal? >> i have not at this point but i'm sure at some point we will i will and we feel very confident and comfortable that it will be an amazing competitor that creates good solid jobs in addition to if you look at the albertson kroger merger, we'll have over
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700,000 associates, hundreds of thousands of good strong union jobs and in fact, if you look over the last several years, kroger added over 100,000 union jobs and, you know, when you look at the things together, i think we have a great case to share and looking excited to sit down and share the actual details. >> one last question, you showed me specific baskets of food where you actually kept prices down below the national average. can you assure us that that can be done when you merge with albertsons, that would make it so that we actually can have price deflation, something the federal reserve wants badly but not been able to do? >> absolutely. and jim, as you know, on the data that we shared, if you look at as i mentioned before, over the last ten years, you lowered gross profit rate every year except for one and we would continue to expect to do that. if you look at the way we go to
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market, our belief is to continue to invest in pricing and fuel rewards and all the things together continue to invest in wages over the last three years we've increased wages well fonorth of 20% and invest and support our communities with zero hunger and waste. it's all those things together and we're committed and will make sure that the customer comes out ahead. our associates come out ahead and the communities come out ahead and we believe when we do those three thinking right, our shareholder have a great return, as well. >> chairman and ceo of kroger, kr i like the deal and i've been a big supporter of the stock and nothing you said makes me feel other than i should continue to do so. good to see you, thank you. >> thanks, jim. >> "mad money" is back after the break. >> announcer: coming up, airbnb's earnings are of
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- yieldstreet presents: alternative investing with kal penn and older kal penn. - oh, the stock market is doing that fun thing again. - hey news from the future, you're going to live through that about 10 more times. (laughs) - oh, it's no stress. i just discovered yieldstreet. they vet investments that don't ride the stock market rollercoaster. - ooh. i think some of my gray hairs just reversed. - yeah. you're welcome. - [narrator] become an investor today. yieldstreet: private market investing.
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the last few years is viewed as innocent. there is nothing we can do about it the business consisted of your company and the stock might do well given is that we got travel movement every rally seems to fade. every good looking earnings result is staying tonight. airbnb is getting hammered even though they turned in what i thought was a very strong set of numbers, a gross booking value all better than expected
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okay some flows, little free cash flow maybe not perfect the forecast in the fourth quarter in line but could be conservative overall, the pros vastly outweighed the cons. never the less, the stock got hit anyway because this is being lumped in with a bunch of newly public companies with very little in common including the fact it makes a ton of money could this be a buying opportunity? we have to dig deeper with the co-founder and ceo of airbnb to learn more welcome back to "mad money." >> well, thank you for having me, jim. good to talk to you today. >> let's go right to -- i'm going to say it. you are making a fortune why do people not understand what free cash flow means and what money in the bank means because that's what you have. >> well, i think we need to keep telling our story. it's cash flow and we've done
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$3.3 billion in free cash flow in the last 12 months and that means that's more than a 40% free cash flow margin so i just think we need to keep telling the story. >> to me, what is more impressive, the profitability lines, you got better than expected adjusted ebitda and gap net income, which i love the former up 41% and people are looking at, i don't know, inexperienced book not perfect. i like a company making a ton of money and that's what you're doing. >> yeah, i mean, you take net income for example we did 1.2 billion in that income and if you were to ude fs up more than 60% yearo over year the bigger you get, the more scale and operating leverage we get and stay disciplined we had a difficult 2020 and had to pull back expenses. we got really disciplined and when the economy was going very
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well, we did not forget the lessons from the pandemic and stayed disciplined and will remain disciplined. >> what i'm excited for is you have a ton of money in the bank. i mean, you bought back a lot of stock. you have more money than any companies that started during your period and you never really hired anybody back you can get the pick of people i imagine there are great engineers and software people that want to work for you and you're really the only game in town because everybody else is laying off. >> yeah, we're staying very aggressive with hiring but not absolute numbers of people because we have learned from the pandemic actually fewer people allow us not only to be more profitable but allow us to move faster and be more nimble and innovate faster so what we're really focused on is hiring the best people in the world and we have a pretty flexible work policy and that means that regardless where people live, they can work for airbnb
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we're giving a lot of inbound after we made the remote policy update, we had hundreds of thousands of applications. we're staying aggressive but in the beginning of the year, jim, before the economy took a turn for the worst, we were still only preparing to hire 7 or 8% more employees so basic principle i had is who it's a recession or a good economy, we're not going to run the company that differently we'll stay incredibly disciplined and that discipline will allow us to innovate quickly. >> let me ask you, where are you now? >> i'm in san francisco in my house but i was living in airbnb but i'm here. >> you're boring, you're boring me with that i can't believe it. >> i'll get back on the road. >> you had 10 billion in cash. th that's a b 10 billion in cash you could buy a competitor if you had one. >> one of the lessons i think i learned is we wanted to run the company as consistently as possible in a good or bad
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economy. we'll stay really disciplined. if we see any major investment opportunities, we will invest. i don't think you'll see a fund mental change or profitable. this company will get profit every time we're really focused on a couple really big opportunities i mean, i want to really make sure number one, we perfect the core business. we want great value and great customer service i want to make sure hosting becomes main stream. in a recession, i think millions of people could turn to airbnb to consider putting their homes on our platform and we do want to be expanding beyond the core business but make sure that we get the fundamentals right before we do that so those are things we're focused on now. >> when i hear that, i say why just the fourth quarter guidance put out the goals. >> so i think there is going to be -- i mean, i generally want
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to continue to exceed people's expectations that's pretty much every quarter we'd be in everything we set out to do and we want to continue to do that especially on revenue and a profitability stand point so make no mistake, we'retious and not resting. >>metrics. how about repeat customers how many do an airbnb and go back and go back again >> we look at the cohorts. one of the things we're seeing is increasingly a larger and larger percent of our business comes from repeat customers, which is generally a good thing. the vast majority of people, around 80% that book on airbnb and leave a review, leave a five-star review, if you leave a five more star review you're much more likely to come back. we're one of the only travel companies of our size that doesn't need a loyalty program and we generally think if you create a great product people love, they will stick to you and
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come back each time. that's why we spend a lot less on marketing than our competitors. we don't really have to buy many customers. 90% of our traffic is organic and most of the our customers are happy. >> last time we spoke you were talking about the new app but experience are others using it? >> yes. >> how is it going >>ist -- it's going great. in may we launched this idea to organize need homes by location but what makes the hopes unique. this is a major change for travel search. for 25 years, people would go to travel websites and be a big search box and ask you bewhere r you going? so now people are flexible what if we can design an inner fashion. be top of funnel what we've seen is exactly what happened homes and categories have been viewed more than 300 million
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times and this is a really long bet that we're making. we're making this bet that we can be an inspiration business and point to supply and not just have search functionality but a discovery function on airbnb, as well. >> that's why you're in the bullpen for a travel trust this is such a great opportunity. i hope we get to take advantage of it. the chairman, co-founder, ceo of airbnb great to see you, brian. >> thank you very much thank you for having me on. >> absolutely. "mad money" is back after the break. >> coming up, what's in your mind cramerica give us a call the lightning round is storming the nyse next
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it is time, it is time for the lightning round. play this sound and then the lightning round is over. are you ready ski daddy? time for the lightning round start with leon in pennsylvania, leon >> good evening, mr. cramer. >> good evening, leon. >> caller: your current assessment of tt -- >> i'm still in the buy, buy it's early in the game i like it as a call option natural gas. let's go to p.t. in texas, p.t.? >> caller: big jim, your eagles are looking better than the mike days, pal? >> number 55 we had chill game. that's howie roseman, the best
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in the business, what's up >> caller: we're hating on spacs but i got a long term view and high conviction here but i want your blessing on pl planet labs. >> satellite -- look, it's an important -- this is a concept it a concept it a really interesting concept sometimes you can own a concept. that's a concept let's go to andy in oregon andy >> caller: yes, sir, hello, jim, how are you today? >> having a real good day. how about you, andy? >> caller: great, great, it's a beautiful day in portland. >> there you go. i don't know read pretty bad, what's going on >> caller: well, i've got a long time holding mfc and it peaked about 15 years ago today. >> i'll tell you about it. i'll put it in the ns category,
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which means nothing special. and i don't like to recommend stocks where there is nothing special. not even a blue plate. let's go to mitch in ohio, please, mitch? >> caller: hey, jim. so glad to be on the line. the wife and i tune in every day. we love you. thanks for everything you do. >> that's so nice. thank you. >> caller: i'm calling about small company that's both profitable and the stock is trending up significantly. looking for your quick take on it. >> i'll give it my blessing and that, ladies and gentlemen is the conclusion of the lightening round. >> announcer: the lightning round is sponsored by td ameritrade coming up, they're off, a horse race with gio politics and a gallop, next td ameritrade
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is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. ♪♪ the only thing i regret about my life was hiring local talent. if i knew about upwork. i would have hired actually talented people from all over the world. instead of talentless people from all over my house.
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white towel and raises the white flag like the war in 1994. any one of these can give us a pab la fabulous rally and every day feels like we're closer to one coming through we learned china's propaganda seems to be in charge of creating a narrative that will allow president xi to back away from the zero covid policy where he's constantly looking down entire regions to stop the spread remember, this is happening because china insists on using home grown vaccines instead of moderna but they will create their own mnra vaccine that will allow everyone to get shots in a few weeks time funny the chinese guy of propaganda is telling the truth. you can't beat covid but laockig
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people down forever, you can only do it by a high quality vaccine. at this point, i'm just wondering why it took them so long honestly, at this point any competent ministry of science should be able to manufacture the moderna or pfizer vaccines it's pure universe xi took ages to do this because it wouldn't be right for his people. absolute power i guess. the moment xi embraces rationality, there is a huge rally. for ages china was the key engine of global economic growth and the pandemic hit and the whole thing fizzles but if they reopen for business, that's fabulous news for american businesses with chinese exposure and nike and a few charitable trust names like estee lauder, disney and starbucks i like china to place, inxi changing policy and direction and he'll realize he's been
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wrong. i've been wrong but that doesn't last too much longer how about russia thanks to the liquified natural gas, europe has enough fuel for a cold winter. i don't think putin thought that would happen he hoped the winner would drive western europe to their knees and force them to stop backing ukraine and putin misjudged a lot of things and thought they would be liberators. he should have cut the loses russia had not one but two sizable wars both of them in chechnya in 1994 chechen separatists fended off boris nelson and in 1994 there was a second war managed to split the opposition and only one after committing a ton of atrocities. ukraine is a lost cause for putin at this point but when you're a dictator, losing a war
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is bad for your life expectancy. putin has to play this out that makes me reluctant to put money on show which brings us to win. the slowdown of the u.s. economy. the big sticking point is wages keep going higher as the fed tries to stamp out inflation we have data today showing a big increase in job openings that does not bode well for friday's employment number that suggests the fed might stay on the warpath when we hear from them tomorrow add them up and we don't have a win when it comes to the red hot american economy and in europe ukrainians are winning the war but putin probably won't throw in the towel but china, that's the most likely positive out there because their lockdown policies are too much of a lighty as west herern companies manufacture things elsewhere and that is the trifecta that comes in i think the place bet on china
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is the most likely so don't get too negative because place is more lucrative where you have to nail all three i like to say there is always a bull market somewhere and i promise to find it here for you on "mad money. i'm jim as you the families of children murdered at parkland high school and some students who survived come face to face with the killer in court. i'm shepard smith. this is "the news" on cnbc >> you don't know me, but you tried to kill me. >> you are, unfortunately, living proof that evil does exist in our world. >> and one told the killer about his daughter. >> she would have gone on to change the world had she been able to grow up. >> i am broken i am broken. >> the grieving victims also with attacks on the system and
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