a bearish bet is we put spread. >> some bears here on the consumer that's going to do it for "options action. back next friday, 5:30 p.m. eastern. don't go anywhere. mat money starts now have a great weekend, everyone my mission is simple, to make you money. i promise to help you find it. mad money starts now hey, i am kramer. welcome to mad money. i am trying to make you some money. my job is to educate and teach you., at 1-800- --.

it is the beginning of earning season. companies turn in midterms and then, we greater them. you think that is how the brokerage business plays it? wall street negative coming into the reporting periods. we keep hearing earnings will be down seven percent-5%. it was a big beneficiary from the banking crisis. >> it wasn't enough to push the averages higher. now losing 146 point. nasdaq falling .35% but they didn't gain near the end. we will find out how long they are. a few weeks ago short-sellers gaining up, nevermind a

brokerage house with a full bank business. that is not right, but i do think it will not be a terrible washout. the bank of america reports as insanely good numbers we just saw from j.p. morgan. it is so negative that it will still look impressive. you have to wonder what kind of numbers goldman sachs can put up and way too much in the way of consumer banking expenses. goldman sachs has recorded great quarter to great quarter and no one seems to care. that is a big reason management wanted to get into the less episodic accredited business. that is starting to look like a big mistake. a lousy performance of stock. you buyback every share you can

get your hands on. that is the company, not you. then, there is johnson & johnson. they are being held out by a plethora of lawsuits. i don't think that has impacted the underlying machine. i that we also hear some firm plans of what the new consumer will look like. we wandered into j and j that it would be resolved in the stock would be 40 up and 10 down. so far we have only seen the 10 down. also, i want to see about what they are saying about the defense budget. here are the numbers. if i am on the conference call i would want to ask where there russia will use air superiority to take advantage and could the weapons be used to stop them? we keep hearing about the screaming fatigue that envelops everyone in the industry. i say it is a hit business. it makes the service a bargain. an even bigger bargain if you are going into commercials.

i am not running away from this. we need to know if the wealth management business has been impacted. i know the importance. i don't think they chose to be as reckless with their own investing. that is not like them at all which is why we expect a very deep quarter. this is one of the stocks where there are so many people waiting to get in if it ever goes down, that they buy it. they have been on the slightest bit of bad news. i am vetting this will be no different as they make the critics look like idiots. it is always good to know the lay of the land. the other thing about tesla it can overshadow anyone and everyone on wednesday. that is ibm's turn to be overshadowed. they are trending sideways for eight years. it would indicate the top era is right behind them. with the help of many major banks, how about zion banks. this bank is frequently

mentioned as one of the --. maybe they can put them over the threshold. they sacrificed $2.5 billion for the people's republic of china. i know how it will make it here. being the most indispensable capital equipment. if we really wanted to know about supply and demand we will get it from a taiwan semiconductor. it reported it reports thursday morning. we need to keep an eye on housing. we heard from lennar which told us strong stories. i want to know what dr horton, the largest builder in the country has to say. i bet they will tell us business remains on fire. i wouldn't be surprised to hear if the story is better than expected just like the carmax

was tuesday and not what they want to see or hear. i like union pacific and i want to hear about the different parts of how businesses are doing within this. we also need to know about a new ceo. no process by which they parted ways. it makes me a little queasy. i don't know about you. what really happened? i have no idea. we get results from newport, too. i wonder if there could be a further number cut from when they preannounced not that long ago. i would be a byard -- a buyer of the stock, not a seller. on friday we hear from proctor and gamble. i think they are making tailwinds out of headwinds and so many different currents and

even surfactants. many people i met were skeptical not that long ago. i will do another one this weekend. it will be the same. there is a reason we on this one. come on, club members. get on the case. the company is inexpensive versus ahistorical growth rate. that they will talk about how they thought many years of service projects ahead of them. halliburton told us the same which is why it is such a big position. i like them both. at earning season gets into full swing, i think we will be pleasantly surprised. the volume of wall street once again is so negative. >> in -- >> what is happening? >> i am just wondering about eli lilly. is this a goodbye level?

eli lilly did get a high this week. we wanted to come in. it is starting to come down a little bit. i don't see any reason why you have to pay 374. he may get this one at 360. >> how about we go to ian in illinois. ian? >> hey, jimmy. how are you doing? happy friday. >> i am ready for friday. i am trying to see if i can do some work tonight but my wife insists on going out. >> i think you should join her. you deserve some fun. >> my friends made fun of me about this last year but i doubled already after they recently updated guidance and it was better than expected. they gave a positive report on franchise growth. i see this one is the chipotle of sandwiches. do i have a long-term winner with potbelly? i cannot believe this.

these sandwiches are great. i mentioned the calories. they are really good. you are right. this is a nine dollar stock. potbelly is just tasty. it is the only sandwich i eat otherwise, i eat a salad. wall street is awfully negative heading into the season which could head us up for some big upside. i am getting real in the energy space. we will find out if -- has what it takes to perform amid the uncertainty we are expected. we are getting an update from gina raimondo. stay with kramer.

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over two years ago, devon energy revolutionized the industry when it rolled out its fixed plus variable dividend structure. as everybody knows, the payouts are coming down. even at lower levels, it is still very generous. if you annualize the dividends, it will be a 6.45 meal.

what to do we do with something like them now? we fully sold out of our position for the travel trust. there is still a lot to like here. if you think energy prices can hang in there or go higher, this may be a good stock. early today we got a chance to speak with the president and ceo of devon energy who knew we got him incrementally more negative. that is always worth listening to. take a look. welcome back to matt money. >> good morning. is not going to go.

where do you see devon in that particular makes or people just being too bearish? >> i think people are being a little bearish. pride is >> you did talk about this quarter, you will see the downside of what is happening. you recognize look, there are real costs and the costs are going up. there is inflation and your discipline style will not let you go pedal to the metal. it is not going to happen.

>> that is true. it is the right thing to do. we will stick to that discipline. it has paid off. that is why devon has top- performing at the s&p 500 since we rolled out our strategy. the thing i like about our strategy it is it allows to pay nine dividends. it also allows to do shearing purchases, called that, pay that down. we have state discipline and we have to stay disciplined and focused. >> i run an investment club and they said the idea was great when they're going up but dividends are going to get cut. companies are doing well. still needs more education about dividends, isn't there? >> think about it for a moment. if people will pause and think about the term variable. as prices going up, you saw the dividends really expand. as

prices contracted as we have seen over the last few months going the other way. during the contraction. it, that is exactly right. you saw dividends start to diminish, somewhat. that was the thesis of the format. at a time when people are really focused on sharing purchases only to wake up two years down the road and say wow, i wish i had some of the cash back. i repurchased equity at a higher price. the beauty of our strategy is we can do all of that. as we have seen over the last quarter or so, it really sets you up to step in and buy those

discounted shares. >> 12 years ago rick, you had a helicopter and showed me where no one knew there was oil in your new. you are all over the country with devon. are there places we are just getting started that are actually real and going to produce real oil for our nation? >> there are. i want to give you one example. just like we have seen the permian takes time to get in and get the bright minds for engineers and experts. we are putting a little bit of capita . we are convinced company's ourselves will crack the code.

there is a ton of resources. it really is the same source of supply we have seen in these other basins early. >> our next field trip will be there. we heard this weekend, obviously, stories about exxon taking a look at a pioneering. i know all of you guys talk. i want to step back and say is exxon saying it is cheaper to buy than it is to drill in the permian? >> the reason they may look at pioneer is sick about this, they are a huge company. they spend a lot of time. you have to think about replacing that overtime. when they look at inventory, they look at the oily nature of

the permian basin. it sets up really nicely. we have challenges in the u.s. with lack of mobility to get infrastructure built. that pales in comparison to some other parts of the world. if they are indeed the majors really have to think about that. it is unattractive option. >> when i look at the takeaway who has oil and natural gas, who can get into the market, did you think about this in the beginning? it looks like devon has the most oil that can go to the market of any company in the market? >> we do think about it. if you look at our technical

teams in our marketing teams, we work hard on understanding the markets. we get our boots on the ground. we understand. we look at some of these inland refineries. those are refineries off of the gulf coast. we need to understand how we can get to the market. i think error cherry error team has put us in a good position. most recently you have seen a lot of talk and challenges. i would just say there was a time ultimately the permian could produce as much as 12 bc in a

day of natural gas. we are currently at 16 bc eight. that tells you how strong the permian is. we need to continue to build out infrastructure. thank goodness you can do that along the gulf coast area. it takes time and planning. >> all of western europe if we start doing that we can save. devon energy president and ceo. a joy to have on the show. thank you very much. >> thank you, jim. have a great day coming up, survive the unknowns. thrive in any market. kramer invites you to the game of games. play mi diversified, next.

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earnings season has officially kicked off. with a backdrop of recession and earnings it is important to know what it means. at that is why we are playing am i diversified. tell you maybe you need to mix it up a little and be sure you are diversified enough. for supper the video from jay in new york. j, what have you got for me? >> medium baby julie want to know it is joey diversified for the long-term. devon energy eli lilly dutch burroughs coffee and what you think about first republic. >> because i happen to like julie i took and like to join

in the video. am going to say i don't care. i would rather see you in something that is a long term stock like a biotech will have something big. that is even too risky. devon, we have rick on. give you a 6.4 yield and good growth. what can i say about dutch burroughs other than have an annihilator and call me monday. you will not sleep this weekend. the best in a young national chain icy. and national chain of restaurants, kiosk. let's head to the phone lines where we are taking a call from

bobby in california. while! let us think about it. in 10 days they are going to open. one i will buy and i think you will see lines that will start this weekend. i am not kidding. india, here you come. we will on that. did in the under 100 is a great by. they need to lay out a plan. i think the plan will be successful. it will be a fine number no more, no less. it is another own end zone traded stock since i started matt manning. these are -- it is a terrific

company but it is too much like the others. we will trade out of that and put eli lilly. >> let us go to cameron in florida. cameron? >> hey, jim. i have five stocks for you. raytheon, rtx >> very interesting portfolio. first of all i am going to bless school.

that will be heavily dependent on raw costs, costs of engineers . a little dicey. i think it has to stay. i wouldn't buy it over 100. nvidia, own it, don't traded. that is -- this is clear as day cameron has got game. i like that portfolio. let's go to mandy in new york. mandy? >> hello! thank you for taking my call. my grandson eli and i know your show. he watches before he goes to bed every night. thank you for helping i have a

bad -- i have five pics and i have been really bad at timing the market. thank you so much. i am so upset. google, vista and wells fargo.. >> i will disagree with your unqualified negativity. i think it is a strong rendition of a portfolio. like energy. off of that if they were to -- we have a little too much energy. i like new fortress eli lilly day is today.

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three huge pieces and legislation. the self-proclaimed inflation production act and the chips and science act. it represents a massive amount of spending. we have been watching closely to see when and how the money will be put to work. we know they will result in a ton of instruction projects. they want to make sure more women are given a chance to give a piece of the pie. in america everyone should have a shot. she was here in new york city touring the headquarters of nontraditional employment for women. it helps get women into skilled construction, utility, and maintenance trade. those are three areas we definitely need more workers. we got a chance to speak with the secretary. take a look.

>> madam secretary, half the country had not been able to do construction. tell me why we are here. >> we need to get more women into construction. thank you for coming here. it is a beautiful site to downstairs. women being trained how to be carpenters, electrical workers. they are great at the job. we need them. right now there are about 1 million women who work in construction jobs in america. i have launched a new initiative called 1 million women in construction. we need another 1 million women. how else will we build? we are not able to do what we want without women. contracting, i am not -- you have to have them. in contract. >> you have to do it all. you have to contract. it is complicated and detail oriented. perfect example, last week i was in portland, oregon. they have a huge semiconductor

operation. they want to biltmore so the building trades are there. i said what is the unemployment rate in the building trade? he said zero. we are full employment. i said you have to find thousands of people to build a new facility. you better figure out a way to train women and make sure they have childcare and show up on the job. otherwise, we won't get the job done. >> let us talk about the 200 apparent app can sign them hearing that want in the. describe how that is going to work and what type. >> less than one month ago -- one month ago. more than 200 applications from all kinds of companies. leggings see providers, leading providers, suppliers, packagin . it is an overwhelming response. now, we have to get to work. we will have more demand for

the dollar. >> do we favor companies that have already spent a lot of money in america or favor companies that have spent a lot of money in china or taiwan? is there a pecking order? >> there is not a pecking order. i have to invest $50 billion on american national security. what we are buying for $50 billion is national security. enough chips of the right kind and the supply chain in the united states. some of the money will go to packaging companies, leading edge companies. it has to be spent in america. by the way we talked about china a lot. you can't take the money here and use it o invest in china? >> i have talked to the heads.

they are all in onto afford it. >> f, it will be enough. yes, they will be able to afford it. they need to innovate to bring costs down. the reality is, if i do my job right, this is a one time infusion. 5-10 years from now, the have to innovate to make the cost so they can do it sustainably in america. i am confident this will be a big success. >>, about the political movement to say you provide think like childcare it is suddenly the socialization of a business. i am trying not to laugh at that. >> it is laughable. feel free to laugh. you put the strings attached.

200 have applied. >> is and that the proof of the pudding? if they all were worried of having to give childcare, maybe it wouldn't be implied. >> we are not going to tell companies what to do or how to run their business. we will tell them there is a labor shortage. you have to get creative in the workforce plan including women so you can win. >> so, construction starts. i know companies who are in cement and steel roads. they don't have employees either. this is what i keep hearing. it is going to take a while to train people. when do you see boots on the ground? >> very soon. look, it is already starting. you are starting to see some of these announcements that have already been made. intel in ohio. micron in ohio. how about a great company like nvidia or amd.

>> i spend time with apple, nvidia and amd. they know we must be successful for national security. we cannot be this reliant on taiwan. >> apple, commitment being made in india. 1.4 billion people. now, a younger and a larger nation than china. you have been working with india and apple. what will happen when they finally open retail stores? >> i think it will be exciting. it is always exciting when a great american brand is loved all over the world. i hope they are successful. i think it will be exciting. >> you just say you are excited. why haven't they worn you down. >> we are doing it. that gets me going. we are going to get it done. i wake up every day charged by

work. there is too much at stake. you can't give up. >> there are people who say you know what, we are not going to get the best chips. they are still going to be made in taiwan. we will get the ones that go in a truck, not the kind that goes to mars. >> not true. by the way, we need more of the kind that goes into a truck made in america, to be clear. medical devices and pacemakers and all of that. we are going to have the most leading-edge, cutting-edge chip designed in america, made in america and packaged in america. we will have 2 or 3 of those ecosystems in america. that is what we are out to achieve and that is what we will make happen. >> larry runs a lot of money. he was saying today it is no longer globalization. it is reassuring. the question is how fast can we reassure?

what is going to happen when we do it? must've put in the he says it will raise the inflation rate. do you think it is true? >> it is a balance. first of all, it will be more expensive. isn't it worth it if they secure the national security? i would say it is. not everything is about lowing the cost provider. a leading-edge chip is different than a piece of furniture. >> i think there are a lot of people who don't realize that there are going to become firm compromises to that. we went three long periods where there were no enemies. no cold war. this is the price of the cold war. you couldn't do it without your work. >> i think you are right a. there should be global trade. should be global trade with china. no one is saying there shouldn't be -- or i wouldn't argue total d globalization, absence of trade.

it is not on that extreme but we have gone too far in search of cheap labor and in search of efficiency. we have to have some critical supply and goods made in america. >> let us finish with great labor. what has been the reaction? we are up to 7% of contractors. it seems like the 50/50 would be a great thing to shoot for. i think there is a cultural lack for you to win on this. that could be changed. >> go talk to the women downstairs. they are thrilled to do it. they want to work. they are talented. they will be great workers. some people will say construction is a man the job. enough with that. would need the workers. they are willing to work. train them, put them to work. >> i want to thank you.

coming up, kramer takes your calls. the sky is the limit. it is a fast fire light around, next.

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and what better way of spending time than traveling, continuing to educate ourselves and broaden our minds? (woman vo) viking. exploring the world in comfort. it is time. the lightning round is over. are you ready? start with anthony in new

jersey. anthony? >> i got a question for you. lucid group. i bought them last year at about 60. i thought i was in love with them. i have to tell you just like the women in my life i had to chase them. i chased them all away down into the sixes so i can average my cost at 10. i am taking action break up with the lucid group. they have a fast car. the have a car that goes further. >> get the heck out of that one i am going to give you a little match. you need to get out of that. it is a bad stock. it is going lower. does it make it for a great stock. all that information gave me? don't worry. we will blasted out nationally. let us go to tyler in new york. >> thanks for all you do over there. >> you're quite welcome. >> with the movie theater celebrating i want to get your

take. >> they have too much dilution. i know they save the company but i can't recommend the stoc . let us go to scott in massachusetts. scott? >> we love it. getty images. the symbol is ge ty. >> it is very hard to understand. i will tell you i don't endorse them but this is on the nvidia conference call as some big that they are using a lot of a.i. with. i am going to say i will bless it. let us go to thomas and the louisiana. >> mr. kramer, thank you so much. i love the show. >> thank you buddy. what is up? >> my question if this corporation. >> they made an acquisition

this very week. they bought this company that is a freight container company and they stole it. they bought it for a great price. probably do it there. it is so interesting. >> bobby in california. bobby? >> bobby, speak to me. >> i can hear you. >> yes. that is bobby right here. >> all right? >> you have got kramer. >> that is the first time to be talking with you. i have a question. >> amd, look. i don't think it will be a good quarter. i don't think the data center is that good. i do think gaming will be okay. i don't think it will be a long quarter. i was going over this with jeff

and we are not sure about how great the court will be but would like management we like the semis. need to go to david illinois. dave? >> are you? >> well, so good, dave. how have you been? >> i have been well. i have been better on days like today. that is how it goes. >> when are we hanging together? you know that >> yes. with your help. five months ago in the lightning round, use it stay with the vertex pharma. are we still saying? >> even here at its all-time high i like vertex very much. you have a winner. i always appreciate your call. that is the lightning round. coming up, time for a deep

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we got some tremendous numbers. take away. no systemwide financial crisis. the strong got stronger and it

surprised it in the millions. that is a crisis in a nutshell. the silicon valley bank crisis is now seen like a minor kerfuffle that a near-death experience. giant banks, especially turn out to be beneficiaries among the worst regional. i think the whole thing was explained well this morning during my interview . they made it clear that it was much stronger than we thought it was. we gave it a lot more credit than people realize. it is certainly strong enough that it really got games by the collapse of the three-year institutions. it is much easier to handle than the credit crisis of 2008. they simply had bad controls

that they are now brought under. it made me realize while the loss of the three banks was shocking the rest of the system is powerful. it did very little damage. it could be something premature. the banks that benefit as people move their deposits. next week we will hear from the smaller regional banks. there will be a reduction that it will decline and just not hard enough. the comeback has been too robust. i get a follow-through almost nonexistent so far. personally, i think there will be more bank failures.

however, it seems like that may have been it. of course, if the crisis is truly over, no more major bankruptcies. no more spike smaller regional bank companies. no decline in consumer sentiment as we saw today. last, no cessation to the rate hikes until they beat wage, housing and food inflation, which they have not. in other words, the silicon valley bank with hard lasted. as frightening as it they failed to enough damage. honesty, that was the best. i would rather have a slowdown.

the economy crashed headfirst into a retaining wall thanks to a financial crisis. yesterday, we dodged a bullet. that just means they are going to have to keep bleeding us with higher rates into the economy finally cools down and inflation says goodbye.