>> karen >> yes, hyg short. we touched on it briefly i think there is room to run here we haven't even seen credit really start >> dan >> yeah, i think if her hyg goes down, i think yields on the ten-year are going to continue to go down >> all right, my mission is simple, to make you money. i am 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. >>, i am cramer, welcome to mad money. time to make some money. my job is to teach you, so call at one 807 43 cnbc, or tweet me

at jim cramer. say what you will about -- it always lets you in. you just have to be willing to take the chance. if you do, sometimes, you can make a great deal of money, but you need to believe. you need to have conviction, or else it is impossible to pull the trigger! today has unraveled, 80 point, the s&p slipping, the nasdaq even plunged more than 1%. more on that in a moment, but first, let's do something else. i want to talk about a couple other stories, showing you what happens when you invest in well- known, great, american companies with beaten-down stocks. investing 101, deal with stocks that go down. this time, if you listen to what i am about to say, you will know what to do. you will never do a downturn the same again. let's start with the star of the day, that is core holding johnson as johnson.

for as long as i have been in the business, j&j has been a great start on, there is a reason it has a aaa credit rating, better than the u.s. government. a couple years ago, we hearing about a link between j&j's talcum powder and ovarian cancer, specifically claiming that their talent had traces of asbestos, which is one of the most dangerous chemicals ever, from a health perspective. and in this case from a legal risk perspective, too. if your company sells a product that turned out to contain asbestos, it is almost impossible to beat the lawsuit, especially if there are smoking gun memos in your files from someone who enough already who might have posited that there may have been a tiny amount, a trace of asbestos in an occasional batch of the product. and deposit it they did, as any thorough company would do but you may remember former ceo alex scores the coming on this show to deny the allegations that have been repeated endlessly by the press, particularly reuters number from a series of investigations in multiple columns.

no matter. once the drumbeat starts, it is very easy to recruit very sick people, people who juries understand and find sympathetic. who wouldn't? whether or not j&j is talc contained asbestos, you don't want to fight that in court if you can help it, because the plaintiffs are people you just want to help anyway you can. even if j&j may not have had is best is in there powder. at the time we chose to buy the stock, take a little risk, there you can follow by joining the cnbc investing club. we thought there was no way j&j could be permanently impaired by these claims. when our view triumph, we thought the stock would soar. a clever path out of the jam, creating a bankruptcy, finding cash that can be used to directly pay the agreement, something a federal bankruptcy judge in new jersey was willing to sign off on. we saw it at an amazing opportunity, because the litigation was keeping a lid on what we thought would be a

terrific stock, once johnson & johnson finished litigating. think about this, neutrogena bandit, tylenol, and a separate pharmaceutical and medical device business. with the stock around 171 started buying, we had visions of $200 dancing in our heads. then the third circuit court of appeals ruled that j&j's bankrupt see spin-up again spinoff game it was actually legal, and the stock is below 130. sitting on a huge loss, and one that could pay me nightly. this is when it pays to have conviction. conviction in amazing american companies. we knew j&j would be smart enough to come up with a way to preserve their franchise. why? because that is what they have always done. they have always been bankable. bankable companies tend to stay bankable. sure enough, last night, i close of trading, j&j finished out with the most of -- super majority because it almost $9 billion, a lot of money, but

that is not what is important for you as a stockholder. what matters is that the existential threat to the enterprise has now been taken off the table. so now, the stock is free. at least around the $158 level, where it was trading when the bankruptcy gambit was struck down. i think it could work its way back to 186, it's peak from nearly a year ago. and after the split up, i think it will exceed that level. that is why i told club members to buy it aggressively, even up here, at 165. second, this is one i think is so sensational. i have been saying it, i was early, then i was late, then i was early again, talking about eli lilly. not so long ago, eli lilly was the single worst performing stock on the s&p 500. at number 500, having fallen, 375 down to 310. why? no concrete reason whatsoever, other than it moves, perhaps too much anticipation for a new

diabetes and weight-loss drug. -- going to charge heart out of the gate that is what people are excited. this thing can cause 15% weight loss in a very short period of time, that it had not been approved by the fda for weight reduction yet. -- drug from the and orders has. so the stock got ahead of itself, and was crushed as investors began to believe they can engineer a soft landing. drug stocks, as we know, are much less attractive. people cannot leave these stocks fast enough. once again, though, you have to buy the dip. why? because of eli lilly. eli lilly is not a one trick pony. they are also working on a revolutionary alzheimer's drug which we heard today could pop the stock by 10% but now, lily is i'll be back to 362. we are only on day two of a rotation in the safety stocks.

they usually last three or four days, then rest. i think that will happen again. it is one of my favorites for all of 2003, procter & gamble. this year, procter & gamble got three big breaks, transportation b,, royal greens plummeted, and the dollar stopped going higher. yet, what did the stock do? despite all these positives, the stock got by slam, because of rotation. now, with the treasury at a multi-month low, being less competition for the 2.4% yield, there is grudging recognition that this stock is too cheap. sure, $131 with lows of 136, but we haven't heard a peep out of the single saying good things. i think proctor goes higher, maybe not much higher. its costs are coming down. but in going to cut the price to you at the supermarket. what do these have in common? how about the fact they are amazing american companies with stocks that get cheaper as they go down. that is a you cannot say about companies with hideous balance sheets or certainly not tech startup with no earnings or

anything in enterprise software. now, as i told listeners of our home program of the cnbc investors club, running around 2:30, we are watching for the best tech being put through the rotation greater, they are the next lily, procter & gamble, and j&j, buy low, sell high. this little trick, here, they have not done much yet, too early. we are only on day two of the tech selloff. many of those are going to roll over, you have time. we know what to buy on the way down because we genuinely know what is doing well. microsoft, nvidia, amd, apple, to name a few. some areas are untouchable, regardless of how low they go. i will not tell you to buy -- they are the reason we have this rotation. banker pools, regulators -- there are other areas that i think are too hard, you might have some multi-day underperformance, industrials. people worried about potential

order declines, even if we had not seen it yet but i argue many industrials will do fine, even in a slowdown, because there is so much federal largess headed their way, but their stocks are still at risk. of course, nothing is more unnerving than buying a stock on the way down. but these companies are not falling off. they are shares of incredible businesses that got too cheap. they got too cheap. every now and then, the market throws an absurd sale, like we had this winter. bottom line, sometimes you just need to hold your nose and by. just make sure you don't start too early for this method only works if the companies are making money, the balance sheets are good. they have experienced downturns and come out on the other side. that is what you buy. jeff from new york? >> hey, jim, how are you? >> good, jeff. you? >> yeah, a big fan. i wanted to ask you, i know you touched on this in the past, but natural gas, last year in december, whenever was up at 10 or whatever, it looked like inflation, et cetera.

did not get away with it, i'll be, now down to two. the same thing is happening down here. i am just wondering your opinion on where you see it going, if the focus is not to move it -- >> sure. i am really close to the natural gas industry, and i will tell you this. i think two dollars is still not before, i think it will probably go to 1.75, that is where people start saying they cannot be here. until the giant lmp facility, the world is so full of natural gas. we need a really hot summer to get that back to three dollars. sometimes, you just need to hold your nose and by in the weakness of only high-quality companies. with the drugs, we will soon do it with tech stocks, but not yet. consumer package has been heating up, conagra, and what they see. then, we continue our series on value versus value trap by

taking a look at deal players to see if they are worth buying. and fedex has a new plan, combining all the top reasons into one. i will be back on this show, so stay with cramer! don't miss a second of mad money, follow at jim cramer on twitter. tweet a question, send jim an email to mad money at cnbc.com, or give us a call at one 807 43 cnbc. ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business.

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this morning, we had an important quarter from conagra brands, healthy choice, slim jim, orval redenbacher, hebrew national, and many others. i think it is important --

packaged foods arguably the worst component of cutting these prices down. conagra posted a mixed set of numbers, lower than they expected, but their margins came in extremely strong, allowing us to deliver a $.12 earnings beat of basis. they beat their earnings forecast. the basic story here is that conagra's price increases have not put a dent in their increased profitability .31% earnings, for heaven sake no wonder the stock rallied. can i continue to trajectory? let's take a show of confidence. president of conagra brands, mr. connolly, welcome back to mad money. >> hey, jim, thanks for having me. >> it has been a difficult quarter for most people who are not in the business, i understand. you spent a huge am talking about some income elasticity fidelity took it in economics, what you might not realize is that when you raise the price, you lose some volume.

but you lost far less volume than your competitors on the price increases. >> it is hard to believe, jim, but we have had roughly 30% cost inflation over the last three years that equates to almost $2.5 billion in cost inflation. when that happens, you have got to price to protect your margins, because margins are the thing, that is the money that you will join innovation program. that is what we are all about a conagra, innovation and sustainable growth. you have to cover margins to do that, and you have got to take price. you do plan for some volume loss, temporarily, as consumers adapt to the new pricing. but as you point out, the elasticities of demand or consumer response to the higher pricing has been benign versus historical norms. that is why we were able to recover as much margin as we did for the second straight quarter and raise our profitability guidance on the year. sales still remain strong, our outlook for the year for sales is still 7 to 7.5% growth, a very strong year.

mac you sound like, as you promised when you were on last, you don't really need more price increases, but you are not seeing the raw cost go down yet. >> yeah, that is an important distinction. a lot of people are talking about deflation. deflation is not here yet. we are in the back half of our fiscal year, in the back have a value, still averaging around 6% inflation. that is inflationary. we do not need additional pricing to cover that at this point for the pricing we have in the market should be sufficient. let's hope we do not get another spike in inflation, but we do not see it yet. inflation is moderated, pricing actions for now are done. we are wrapping up productivity programs, and that means we can get back in the business of driving the business through growth and innovation. mac let's slow down. i want people at home to like your stock, as i have since you came in. i want to talk -- a great microcosm of what you're doing. people are snacking more at home. it is obviously cheaper to stay home, have dinner at home, watch netflix rather than go out. but they are using every single

one of your different kinds of popcorn's, angie, but also the microwave. tell us about innovation. people do not realize, you are innovative. >> yeah, we have one of the biggest popcorn platforms in all of north america. friendly, we have had two structural headwinds since covid that have helped our business, especially in frozen and snacking businesses like popcorn. or structural tailwinds, rather. tailwinds are more working from home, which helps our frozen lunch business, and more entertainment at home. people are not going out to theaters as much, they are streaming more of their shows at home, and when they do that, they snack at home. what is better when you are watching tv at home than to make popcorn? out of a bag with angie's boom chick a pop, our butter lovers. you would be a big fan of that, and of course, microwave orval redenbacher. i suggest that you binge watch mayor of kings down, get one of our new act two butter lovers

popcorn, and you will be off to the races. >> were you in my house? i did, and i used some of those new popcorn's you mentioned. by the way, let's hope renner comes out on all of this, so we have a sequel. we need him to come back strong. now, i want to go over a couple things that i think people do not realize. you said eight crazy sheet. my kids love them. i never -- a sheet in my life. i like the group to talk about the seed category, which has exploded. >> well, seeds are a phenomenal business, with this low-carb movement. people want protein in their snacks, and they want to manage carbs. we have two of the best businesses to deliver on those benefits. we have slim jim and dukes meat sticks, and we have our seeds business, with the great david brand. seeds hit a rough spot during covid, because a lot of seed usage is this time of year, in baseball season. if you think about it, during covid, baseball teams were not out on the field.

that really hurt our seeds business, but we lost a season or two of baseball. now, baseball is back in our seeds business is back as well. >> just to wrap up, what i see here is that you have been able to take the costs, margin coming through. i always love the fact that you like dividends, and this yields one of the highest yields in the category. i know it is up to the board, but when i see these numbers, i think "stated, we could get a dividend increase." >> that has always been part of our playbook, jim. strong dividends, occasional buybacks, occasional acquisitions, it is all fair game. we hear you, and we like to pay out a healthy dividend. that is what we do. >> that is why we like your stock. send those other popcorn for everybody, put them in a store, they are ynamite. we will watch the sequel with jeremy renner, i promise. okay? >> excellent. >> excellent. joe conley, president of conagra brands, a nice quarter, good dividends, and sleep at night. no banks here, no regional

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all week, we have been highlighting this cyclical series, where it starts get absurdly cheap, trading and price-to-earnings multiples, something that usually represents value. often, there is a value trepidation you hear that seems to elude many, i don't mind, it is really hard. let's talk about the quintessential value trap on the street. let's talk about the steelmakers. the steel business is able commutation iron, some coal, melted down, smashing into shapes, selling for more than your raw cost, very commerce 101. really, though, the steel

business is complex, with a huge amount of technology, you need to propose many different grades, all while monitoring subsidized imports from countries that are able to wipe us out. most important, you ad to spend, spend, spend, to keep up- to-date, let you become like the original steelmakers who failed this country because they overpaid labor and underpaid on digitization and automation. goldman sachs taught the steel industry what matters is leverage they had huge fixed costs, building and maintaining a steel mill is not cheap, but as the price of steel rises, that means earnings can grow exponentially higher, because of those fixed costs. that is how the old bethlehem steel could see its earnings jump from europe's 10 times in one year to the next. but can evaporate overnight the same way. bethlehem steel, sadly, could not keep up with the times, it was so poorly run, overpaid

executives, so shortsighted, it is amazing they held out until 2001 before filing for bankruptcy. we lived near the headquarters at one point in my life. a cat adopted us, we named her bessie, that is the old nickname for bethlehem steel stock. i liked it name things for trace. back in, we made a lot of money shorting bethlehem steel aggressively. they were expected to earn $25 per share, but the company ended up losing money. that is a value trap. since then, i have been deeply suspicious of the earnings estimates from all steelmakers, they are just too hard to calculate, with the sole exception of the biggest and the best, nucor, with 63 years of dividend boosts. very experienced. outlasted pretty much all the american steelmakers picture, u.s. steel still exists, and sometimes does well, but the days when hyman roth could grow to michael coreleone "we are bigger than u.s. steel's quote seems downright quaint. however, in the last few years, a new player has arrived on the scene. well, not really new, cleveland cliffs has been around since

1847. originally, it was an iron mining company, but now number two in the steel industry. get this, from 2 billion in 2019 to $23 billion last year. figure hyman roth miami syndicate. i want to visit our newport and cleveland chris for tonight value cast, value versus value traps, because there is a fascinating contrast that seems strange, considered by the experts that cover them. they do not have a lot in common. cleveland cliffs is an amalgam of companies recently acquired, including ak steel. many firms use is seen as wasting assets not so long ago. but under the brilliant and dynamic leadership of ceo lorenzo gonzalez, this amalgamation is just working. cleveland cliffs dominates auto industry steel, amazing. it is nicely profitable, that this is they make flat rolled carbon steel, stainless steel, electro plate, template, among

other grades. it is not some lousy commodity steelmaker anymore, not just anybody can make this stuff. customers spent fortunes paying down acquisitions and reducing unfunded pensions, they are justifiably proud of those achievements. newport, on the other hand, is a growth company. a growth company in the steel visitor nucor has all kinds of specialized grades to be used for everything from towers to bridges to consumer durables, oil and gas, warehouses. i would not go so far as to say it is a proprietary steelmaker, but it is as close to one as you are likely to get. here is what nucor and cleveland cliffs do have in common, and what you should care about. they both trade at hideously low price to earnings multiples. cliffs sells for six times trailing earnings, nucor at five times. that is because neither company can seem to put down, but they

do just fine in a downturn. i find these numbers insulting, even as i recognize -- for these two if the economy keeps stalling. even if increases from the audio companies from steel, the others could get hurt badly. and nucor just had lower numbers, they announced a few weeks ago. wall street is convinced that cleveland cliffs, which made $5.35 per share in 2021 and then $2.55 last year, only earned $2.04 this year, despite protestations to the contrary, management said they had a better year. nucor actually had its best earnings year ever in 2022, despite repeated attempts to cool down the economy, extraordinary. $28.79 per share. they expect that it almost cut in half, that the $40.75, the next year, they are looking for only $11.83. wow, that is miserable. look at that. look what they can do, you can go from 28 to 14 to 11, that is what the streets as they are going to do. if you believe that they

avoided two recessions this year, then cleveland cliffs can keep 15 or 16 bucks with this kind of earnings estimate, it is still an okay to buy situation. so much question about the study, but if they merely stay flat in production, the price increases they put into cliffs should lead to an up year, not a down year. that said, if you are going to back a steelmaker, go with nucor. i think it has been set up for this moment. sure, it came up a little short a few weeks ago when they announced earnings, and it will be mighty hard to beat the incredible numbers from last year, cannot really happen. but you never know with nucor, it is just that good. last year, channels from the street but it could earn no more than $12 per share. that was the estimate, and it more than double that. plus, nucor can push the envelope with new plans for highly specialized steel, immediately adding to earnings.

what i like best about it, though, is when we start seeing all that federal infrastructure spending that has been earmarked for bridges, roads, semiconductor plants, nucor provides the lions share of that steel, and that is where they really are, that is their sweet spot, the federal money. yes, 2022 may not have been perfect, but the company will stand there and make money and buy back tock while it waits. in the last seven years, nucor has taken checkout from 319 million to 255 million? once you get a 2024, it will turn into a great green growth story. then, the question becomes, with all the great companies out there, why would you ever want to buy either of these two? think the economy can avoid a serious downturn, and auto sales can stay strong, then you should have shares of cleveland cliffs, because the ceo is a maniacal cost cutter who developed a reputation for making quality steel. leverage is there. they will make a killing next

year. nucor is different, you by this because, like any growth company, they continue to expand and row into fence, making proprietary products, and using it to dominate new markets. the idea that a steelmaker could have a 50 consecutive years of dividend boosts, not cuts, but boosts, while maintaining a beautiful balance sheet is unlike anything this challenging industry has ever seen. bottom line, cleveland cliffs is a trade underestimated the strength of the economy, but nucor is a long-term investment. for anyone who wants what is called a growth industrial, there are only a handful of smokestack stock you can say that about in the entire world. of those, nucor may be number one. let's go to mac, in new jersey. mac? >> hey, jim. boo yeah, dude, from the beach in new jersey. >> which beach? >> brie how. >> come by and see me. what is going on? >> party. thanks for going through with that. >> that is it, that is what it is about.

i was little, and i am getting little or as i get older, which is driving me crazy. what is up? >> you will get back. i bought some shares in texas instrument a few weeks ago, and the stock goes up and the stock goes down. i am wondering, with chip manufacturing returning to the u.s., should i keep writing this wave or bail out? >> no, no, no, you want to buy texas instruments. they are one -- industrial semi's that had not had a downturn. i don't think they are going to have one. i think they are the sweet spot. by the way, analog devices re a gimme twofer. analog devices and -- cleveland cliffs is a trade, from wall street underestimate the strength of the economy. nucor is a long-term investment. for anyone who wants a growth industrial. -- fedex. brings all the company business -- to one on the transformation

-- ceo. holding has been running, could the company be the next nike? or is that comparison just insane? my take and rapid fire coming up in the lightning round, so, stay with cramer! if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee, even if it received ppp, and all it takes is eight minutes to get started. then we'll work with you to fill out your forms and submit the application; that easy. and if your business doesn't get paid, we don't get paid. getrefunds.com has helped businesses like yours claim over $2 billion but it's only available for a limited time. go to getrefunds.com, powered by innovation refunds. and i remember kind of thinking like, "oh my gosh, i think we could be sisters."

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this will be the most exciting interview see in a long time. just over six months ago, fedex new ceo came on our show. with a dire warning about the economy. fedex had just

announced a large earnings shortfall. with that we are witnessing the start of a worldwide recession. we did get a real early slowdown. fedex stock lost 21% of its value, fell another 20 but before finding the bottom in september. what a buying opportunity. before the market got obliterated, the guy started coming back, amazing. five of the last six months. only one in december, the stock is up 62% from september lows. when he gave us a dire forecas . so, what happened? what is going to happen in the future? that is far more important. okay, so, raj, this was an incredible day, tell me i am wrong. i hear new ceos come in all the time, always the same, cost- cutting, cost-cutting. this was not a cost-cutting day, this was a reinvention day, a way to make a terrific company into something i have never seen before. tell us about this. like you did a takeover of this company. >> jim, thank you for having me on the show today.

it is indeed a very exciting day for fedex, we are celebrating the 50th anniversary. what we announced today is that we are consolidating our operating company, fedex express, fedex ground, and fedex services, into one company, the fedex corporation, under fedex express as the entire company now. with one company, we are able to be much more effective and efficient. >> people need to know, you were not one company. three companies. it is done. >> yes. this is going into effect june 1st of 2024. immediately, we are going to make the surface transportation in all of north america under one head, and all the airline and international business under one head. this is important for us, because it is a critical enabler for the transformation program that is underway. and to get this network 2.0 in a couple years. let's make it real for you.

today, in many neighborhoods, you can see a fedex express van and a fedex ground van both delivering residential packages. in this new world, there will be one van. one van per neighborhood. >> that means the cost for each of these companies comes under one roof. digitization under one roof, procurement under one roof. savings, savings, savings. >> we are definitely going to get significantly more efficient. you said the point, here. we have a common technology platform that enables us to make this possible. then, of course, a lot of these corporate functions like procurement, technology, some of the back office functions, we are able to make much more efficient. >> you are talking about for drive, $4 billion in savings? most companies could never have that much in savings. >> the 4 billion in settings happens because of the recurrent urgency with which we are attacking. on the show last time, i told you we were seeing a slowdown in the economy.

we made the determination then that we were going to come out of it stronger than we went in, and we were going to take control of the things we can control. that essentially became the way we work, that became a drive. we have proceeded with significant urgency, a lot of rapidity, to create these programs that we are confident we can take on $4 billion of costs. >> you said before, you think there will be a recession. everybody else was thinking things were just on this kind of uptick. where are you now, in terms of review? you were so early and so right. >> if you remember the conversation, there were three things we talked about. one was that the industry and economy around the world were slowing down. second was that the u.s. consumer was spending more on services versus on products, and third that there was an e- commerce reset from the highs of the pandemic. those three things all came true. in fact, because of that, our volumes went down significantly. but because of the work we just

did, our third quarter results announced in march, we were able to improve our operating margins in fedex ground and expressed despite significant declines in volume. that is the things we focus on, the things we can control. looking ahead, i think the e commerce reset is -- flattening out right now. i do believe at some point, here, going to go back to the second. >> 5% e-commerce. or we are very worried, that is all pick up the company, 5%. >> what we are saying on the e commerce side of the equation, ecommerce is going to represent 90% of the growth for the next 5 to 10 years. that was the trend pre pandemic, and i think we will get back to that kind of level. >> how did you put together that giant dividend increase?

you had to be very confident that this would be year or after year cost savings. >> when we are focused on structural costs, and get more efficient, at some point, we are going to see the revenue picture turnaround. look at our history over the last 20 years, we have revenue between five and 6.5%. there is a significant leverage when revenue comes back. >> you talk a lot about personal punch, you also about self-improvement, the idea that the customer is right, the customer has to know themselves, then you will work for them. i have in my hand a list of recommendations i could buy. listing price $1 million, southern new york. why should i take that? should i buy that route? >> i think you should. >> why? >> is now the contractor model we are talking about. it is a great business. we have created a lot of great business folks who now work for fedex. >> but how can you trust those people? you don't know who they are.

i don't have a clue, why would you let me do it? >> we have service level standards established ahead of time. so, we believe it is a great opportunity. >> okay. i worry about the touch. this is going to be now much more of a service business. i want these people to understand what you are thinking. >> jim, the service levels are now operating at pre-pandemic levels of service standards, our standards are now better than our competition. we are starting to go back into a share getting position, especially to small and medium customers. >> you do with interest rates at iris, but use a point-blank geopolitical. in the q&a, i did not get enough. where are the real geopolitical risks for your company? >> we operate in a 220 countries around the world. so, as you can imagine, today's situation is far different from what it was 3 to 5 years ago. i have a fundament to believe that human beings at the end of the day, they love to trade and

travel. mobile performance is already entering device that fedex can get a product anywhere in the world, they are going to get bigger, they will find ways to trade and travel. >> there is a great video preston put together, about the iconic nature of fedex. you come in, and you have to protect what fred built. it is an iconic company. but at the same time, you have to break some eggs to make this on. is it okay what you are trying to do? it is revolutionary, but you are the best in the industry. >> jim, i can only do this because of the strong foundation that has been laid over the last 50 years of fedex. really, this is a company that, to give you an example, at the turn of the century, our share in the ground part of the business was only 10 points. our competition was eight times bigger, eight times! it was because of the innovative business models and the differentiation that we created that we were able to

gain a share every single quarter for so many years. now, with the margins of e commerce, we are building on the success that has been created over the last 50 years under fred's great leadership that we are now able to move to the next level. this is an evolution story, moving to this level at the right time. >> i disagree, i think it is a revolutionary story, and it is going to be impactful. the numbers are going to be huge, and you have a great plan. >> we are very excited. >> you should be. i am going to go by that route after i leave here. i am telling you, you have got to try fedex, design your usual cost cut change, it is revolution within the most iconic company built in our lifetime. coming up, cramer takes your calls, and the sky is the limit. it is a fast fire lightning round, next. meet stephanie...

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lightning round is sponsored by td ameritrade. >> it is time for lightning round, and then the lightning round is over. are you ready? let's start with tyler in california. tyler? >> hey, how you doing, jim? >> doing well, tyler. you? >> i am doing well. thank you for asking. i bought mpc around 14.97, now 32 bit what you think about marathon petroleum? >> i like marathon. that price is actually going to hurt the margins.

very interesting stuff, and a well-run company, i think stay long. let's try thomas from georgia. thomas? >> hey, i am looking to replace my intel. i am looking for above average yield, and growth. what do you think about nsp? >> i like nsp very much, a very familiar company, needs to make a move. i think that is smart. let's go to nick in maryland. nick? >> yes, boo yeah, jim. the stock i am looking at is johnson controls international. do you think i should -- >> here is the problem with johnson controls, this is probably not what you want to hear, but it is not as bad as it used to be. i don't think that is a ringing endorsement, though. i would rather see train technologies or carriers. i don't want to be in a company that has a sales pitch being not as bad as they used to be. david in texas? >> hi. i think my stock is at a 7%

dividend, been around since 1958, i know they are in big trouble right now. how is? >> i don't think chris court is in bad trouble. they are not exactly in the best part of the range of what i would look at. there is loan loss to growth of loans, but i do not think they are that, but i am not recommending bank stock some, but i would not say they are in trouble or a bad company. if chris would come on, he would hear good things from me, i think he would tell us good things in return. let's go to massachusetts, with tj. tj? >> jim, some of the best money i ever sent will join your club. thank you for all you do for us. thank you, i work hard for the club and i love the home stretch, which comes in around 2:00. what is up? >> i have an opening in my portfolio for a dividend paying

pipeline stock in what you think about planes all american? >> let's take a break, i don't want to do that, you will be enterprise products partners. i think you want -- a lot less. how about bill in florida? bill? >> hi, how are you, jim? >> pretty good. you, bill? >> doing excellent. i have a significant amount of shares invested in a company that has a really young ceo from 2600 seems like -- is it possible that they could help themselves step up, pressure on the board, and turn things around? the company is lumen are, symbol l acr. i don't know they can turn it around. i would not let you be in that one if i can avoid it. that is the conclusion of our lightning round. >> the lightning round is sponsored by td ameritrade. coming up, cramer has got tongues a wagon, while we lays up to find you a deal that

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see these issues? the result one of the best greatest investing dilemmas of all time, these are speakers, comfortable, and what, they

feel the our purpose, here, that was money. on on holding has been a tremendous winner. hit with a brutal down this morning, though, stock plunged 10% or even after that, though, the stock is up 71% year-to- date, 91% from december. this is a dilemma. do you bring the register here? or cell? do you let it run? river, nobody got hurt taking a profit. picture could be incredible. i have been a gigantic supporter of on on holding for the obvious reasons. you can wear them to pretty much anything except your own funeral. the quarter just reported was a gigantic upset surprise, management seems like the kind of thing that can roll out all sorts of sports shoes that can double as regular where in this increasingly casual era. you see these things everywhere, you might have a pair yourself, maybe two. expect a strong quarter, like we just had it was pretty be of any interest in the moving footwear category.

but now that they have been punched in the face, what do you do? this morning's bear, which had been very bullish, downloaded the stock. may even go as high as 40, however, with one holding a 32 last night, they did not like their score. honestly, i agree. on on has had a tremendous year, typical for suspect goes out of their way to be supportive, they like the fundamentals. they think the concerns the company might be over distributing, but they even mentioned nike in the same breath. there take away is that this stock is expensive, compared to the market cap of nike. anyone, by the way, besides me, excited for air? the new ben affleck and matt damon movie about how nike got its historic deal with michael jordan? roger federer has a very close relationship with on on holding, -- with michael jordan. by about a quarter century. yes, retired in 1998, i don't count the wizards. i bet most people around the world to actually where jordans don't even know who michael jordan is.

anyway, the trouble with on on holding if you can treat it as a trade or investment if it is a trade, and you want to the stock return to the mid-20s, very bad. you will feel like a giant loser, and you are. as an investor, if you sell the stock here and don't get back in fast enough at a lower level, i think you will miss out on tremendous moves in the next quarter. because it could be like nike or even just the next new balance. of course, you could split the difference, sell some to recoup your initial investment, then let the less ride, because you are playing with house money. could be a false construct, riddled with the bodies of companies that got it wrong, reebok, recently under armour. no matter how much you like on on holding, if you went to bed -- betting on them being the next nike, that is a long shot, it could more likely be the next ball burns, which turned out to be a disaster. that is why i think it is a great idea to take some profits on on on holding, here.

but in the end, i think there is enough money here that it is worth buying back the stock five dollars below these levels. i think you can get at least another year of upside before it runs out of steam. i told you it is a dilemma. but either way, if you bought on on holding a few months ago, figure out what hi, i am brian sullivan in tonight. beijing in uproar over kevin mccarthy's visit with taiwan's president. rental apartment buildings, sending up a red flag about the economy. the battle between the pga tour and liv golf, taking center stage down in augusta at the masters. elon musk has npr in an upper are. how do you do that?

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