>> steve >> apple, going to be trading above 200 shortly. >> all right, thank you for watching "fast money." we'll see you back here tomorrow at 5:00. meantime, do not go anywhere "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 cramerica other people want to make friends. i'm just trying to make you a little money my job is not just to entertain, but to engine indicate, teach, put it in context. call me, 1-800-743-cnbc, or tweet me at #madtweets we can rebound from our lows like today, the dow ultimately declining 30 points, s&p

advancing 0.45%, and the nasdaq gaining 1.04%. >> buy, buy, buy >> but we aren't going to get a sustained run in the stock market until we get a resolution of the debt ceiling crisis in meantime, everything just noise, including wall street's love aware with artificial intelligence and a cooler price index number this morning that may have pleased the fed but even if we just stop the rate increases, if we don't stop the debt ceiling problem, well, there is problems. there is real problems what's my reasoning? well, it's based entirely on what happened the last time we had a debt ceiling crisis in 2011 long-term it didn't really matter but short-term it was an absolute nightmare sell, sell, sell >> and i felt the full brunt of it. >> the house of pain >> while i'm determined to remain constructive during this period, i recall it was so ugly and fought between both sides. it is worth remembering how quickly the dow jones industrial average was just slaughtered pretty much out of nowhere

the timeline was brutal. we knew the government was going to run out of money by august 2nd of that year both sides played a game of chicken foot in earnest the third week of july, the dow was at 127 to 4. until it came in part because lawmakers were worried they themselves were causing a multiday stock market crash. but the nightmare didn't end with the dow at 11,866 >> the house of pain. >> nope we had a second leg down on the standard & poor's -- the organization, the entity, unsatisfied with the budget agreement, downgraded the debt of the united states government because who would trust the bonds of a company that might default on its obligations purely out of political dysfunction? that caused it down to 10,809. a vicious 19% decline peak to trough there was very little follow through the market quickly had a furious rally.

and it was so good, you couldn't miss it. that is another reason why i'm trying stay constructive now this time around, the situation is more complicated. if we just had the fed continuing to raise interest rates on top of the debt ceiling debacle, well, that would be enough to give us a hard time. if we were just running into the first crash in the economy from the last 500 basis points of rate hikes, then we expect to see some downside volatility, if we didn't have that banking crisis that threatens to derail commercial real estate, and small businesses to boot we could rest a little easier. but those are worries galore they're just worries but all this part really seems to have going for it right now is ai and the companies that can profit from it, which is a pretty slim we'd nvidia and an really owned stocks and microsoft and salesforce are giant positions so the backdrop of the debt ceiling and the debt talks is more muddled than 2011 worse, both parties seem to hate

each other far more than they did a decade ago the rhetoric is a lot more toxic. obviously there was plenty of toxicity in 2011, but i think there was a lot more good faith. the democrats were willing to cave on spending cuts. the republicans didn't really want to force to it fall the process was incredibly acrimonious, but we did get a deal in the end. this time there is nothing the republican leadership almost seems eager to trigger default to kick the democrats out of the white house. meanwhile, president biden didn't even seem willing to negotiate. he has fielded the idea of invoking some language from the 14th amendment to insist the white house has the obligation to pay all its government bills no matter what is it a legitimate solution? listen, laurence tribe and the legal scholar president biden mentioned is being in favor of invoking the 14th amendment disagrees with his own position in 2011. but the real problem with this plan is that it would trigger a huge constitutional crisis i would expect to see a couple of disastrous down days for the market with the matter only being decided by a republican dominated supreme court, which will probably just kick things right back to congress where we started. if you think the downgrade was a nightmare, can you imagine what

that debacle would bring we've got 19% peak to trough in 2011 i don't even want to think about how hard the market would get hit in a constitutional crisis maybe the ratings agencies would feel they had no choice to done grade again to deadbeat status as janet yellen opined the other day. the why not just sell? there is plenty of reasons not to first, they there is a possibility we could get an agreement. things seemed incredibly hopeless in 2011 until suddenly we got the compromise. if you sell before that happens you, cow miss out on one of the most explosive rallies we may ever have in our lives second, we aren't end far from end of the fed tightening. when the journal reported the fed liked the number, the market had a midday rally that's enough for the fed to take a break, but it certainly didn't hurt. finally, there is plenty of fear about the banking business and how it could hurt the economy. there are plenty of cyclical stocks joining the banks' weakness those stocks joined the rally fewer rouxiously in 2011

if you get a default or a constitutional crisis solved at the end of the month, you're going to get softer wages in the you know employment report in which case stocks will get much more attractive because the fed will be done in that case you're going to regret paying attes chance to g back in than you did in 2011 it's not too risky to raise some cash here, but it's too risky to leave the market entirely, especially if you consider what carley garner told us last night in our off the charts segment. she said short selling is already at record levels still, legal met tell you my i'm more perturbed the most. in 2011 the debt ceiling hit home i attended philadelphia eagles camp during that period, and a host of players were incredibly worried and asked what it meant for their salaries and savings, for our debt to be downgraded. they felt it was going to change our lives. i was just trying to figure out who was going to get cut this issue hits home with our watchers, to you this was a faux business story that became real life national

story and scared the heck out of people when you couple that with the words "broadcast by us" from a guy like stanley druckenmiller, still one more billionaire that doesn't like what's happening and chooses his words carefully and you get another generational exit from the market just when you should be buying, destruct enmiller is right. there has been way too much stimulus, they kept rates too long too low, but the fed has been tightening like crazy come on. he said in 2022 he's made a lot of mistakes, but heowned up to them well, you know what? so has the fed sadly, the billionaire class is never going to tell you to buy anything when you're already that wealthy, you tend to have very different financial priorities from our viewers because you only need to get rich once and i'll never forget that so let's do this raise some cash. we told people on our home stretch segment for the cnbc investing club, we sacrifice even some of our generative ai winners because they're

overheating. we've taken our cash position higher for the charitable trust. but then you wait. do we get another 19% decline like 2011? i don't know but i'll tell you one thing, we'll be ready to put money to work if it happens the bottom line, i do know we haven't seen the worst of the debt ceiling fight so don't make a move unless you're buying a stock that does well in a recession, because that's what will also we'll presume we'll go into if this battle drags on. when i say raise cash, i don't mean all cash, and as club members, many of you know, we will be doing some buying individual stock declines like we always do marcus in new mexico, marcus >> caller: hey, jim, my guy. how are you doing? >> i'm doing well, marcus. how about you? >> caller: oh, great thanks for taking my call. the stock i'm calling about today has been in my opinion unjustly beaten up due to the turmoil from the regional banks. is right now a good time to add to my blackrock position >> okay, i want you to do it in two stages first of all, i totally agree

with you i want you to do some tomorrow because we're down a lot and then i want you to wait a little to see if we get a little more negativity into this debt ceiling disagreement here is what made me think about it i was shocked to see the stock of larry fink, a man i admire tremendously has a 3% yield already. you buy some here and buy some 4% yield that's how i like to buy stocks like that, in those increments good work. kevin in texas, kevin? >>. >> caller: boo-yah, jim. how's it going >> i'm doing quite well. how about you. >> caller: shout out to my niece olivia marco. >> of course i'm glad you brought 80 out. >> caller: i got a question about nvidia and amd they've seen a bull market run on these two stocks recently i'm wondering, should i keep holding on or should i take some off the table or add >> oh, don't you take them off the table. our status on nvidia is clear. own it, don't trade it

amd, a lot of people blew out of it in '82. you know what they're thinking turn the channel i can't take it that cramer made us so much money if we had stuck with it. that's what i say. jeff in new york, jeff jeffrey? >> caller: hey, boo-yah. >> it's jimmy chill, speak to me. >> caller: how you doing >> good. how with you. >> caller: good. hey, i have a quick question about regeneron. >> oh, jimmy, a quick answer i like it very much right here it's 750 landon and i were talking, a very good friend the other day and we were remarking how can the stock only sell at 18 times earnings >> buy, buy, buy >> has it so much gain boy does that stock do well in a recession. that stock needs a debt default. i'm going to trey in texas trey >> caller: jim, the cost to own shares of wing stop may be over $200, but i fear the cost of not owning them is a lifetime of self loathing. what do you any? >> a lifetime of self-loathing

since i've had one, i can agree with you i like wing stop we had them on i like charlie morrison. i think wing stop is really good it's really hard to get. >> buy, buy, buy >> the only way to get a franchise is to be incredibly successful in other franchises how can you miss their price of wings going down i say buy, buy, buy. and i like these callers, because they have horse sense. we aren't going to get a sustained run until we get a resolution of the debt crisis. everything is backed in, flopping and chopping. in the meantime, don't forget, tune out the noise we are remaining constructive. on "mad" tonight, we're breaking through that noise with a look at some key industrials, starting with retail don't miss my exclusive with the ceo of tanger to find out. and then ai is taking the market by storm one of the biggest growth cycles of the decade. we're talking with the gm of cruise as they explain the footprint. and speaking of ai, could be

the next time you get a craving for a bacon ator or a frosty wendy has plans to unveil ai technology to the drive-through. what the heck is that stock doing? don't miss my earnings scloou with the fast food chain ceo to learn more about the mood. and stay with cramer don't miss a second of "mad money. follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an email to madmoney.cnbc.com. or give us a call at ss800-743-cnbc mi something head to madmoney.cnbc.com.

- psst! susan! with paycom, employees do their own payroll. - what's paycom? a magic payroll genie? - it's a payroll app. - payroll is way too complicated for the average person. - paycom guides them through it. missing or duplicate punches, pending expenses, unapproved pto, on and on. - why would employees wanna do all that? - this could be a stretch, but i think it's 'cause they wanna get paid correctly. i like getting paid correctly.

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every day we hear about how commercial real estate is a disaster, but as i keep pointing out to you, there are many different kinds of commercial real estate. while some of them are in trouble, i'm not going deny that, some of these are urban office spaces, others are doing just fine. take tangor, the largest upscale open air centers where you can get the good stuff for cheaper than you would otherwise when tanger reported last month, they reported a better than expected occupancy and management raised the forecast in response their stock jumped to 7%. going forward, tanger is trying to de-emphasize the outlet aspect and focus on the unique outdoor shopping environment, which includes rolling out more dining and entertainment options. so let's take a closer look with steve yalof, the president and ceo of tanger who rang the opening bell this is a celebration. the company's 30th year. welcome back to "mad money." >> thanks for having me back

>> but i am tired, as you know as you watch the show about bemoaning commercial real estate how exactly would we have done had we bought your stock when it came public? >> oh, gosh, probably 1700% return. >> i know. i think of that and say how many people got scared off by worries about retail and worries about shopping centers i think people don't understand. you have a unique value proposition that is unlike almost any other >> a combination of things first of all, let's go back to covid. the ultimate scare, where a lot of people, you know, thought that retail shopping was dead. and then what opened up? open air shopping centers was the only place people could get together and gather. and we took a lead off that you talked about our entertainment uses and better food and beverage that's what the customer was demanding. they were looking for not only a place to go and shop, but to spend more time. >> when i go to mine, we'll go

out to lunch, and then we'll go to there i don't want to do that. i want to have lunch there will that be the case? >> well, that's what we're spreading across all of our shopping centers so food and beverage is a huge part whether we do it inline, so replacing with a better food and beverage operator, or using our peripheral land, which is a big piece of our business now. we've got 36 shopping centers, one on the way nashville, 37 will open in a couple of months. and food and beverage are really important parts to all of the businesses. >> now a lot of people worried, my friends in the home and garden business they worry it might be a little too cool or might rain i always figure your business, that's when where i go when it's too cool and might rain. >> you i think about all our beach communities. myrtle beach, hiltonhead, rehoboth beach when the clouds dark pen up, the parking lots get fool. foul weather during the summer is an outlet's best friend. >> i am perplexed by our government that puts out these figures which talks about inflation. you want to not deal with

inflation, you go to tanger. why do i have to get stuck with the people who don't know how to shop when i can get the prices that i want at tanger? i think that you represent the true price of whatmerchandise sells for. >> well, we definitely have a customer who is a little bit more aspirational, who understands brand, but more importantly understands value. so when they walk into a store and they say i can get this for that that's the experience that we want our shoppers to have when they come and visit us >> but there still is an element that i like that others might not know about i bought an incredible espresso maker that was retailing for 1300 i got it for $700. and the reason i did it is because the box was smashed. frankly, i thought that was one of the great bargains. people still want the bargain. >> that's a great example. so here you bought something for $700, and you knew it was value because you know your brand. that's our shopper they need to understand when they go to ralph lauren store, a kate spade store, a michael kors

store, that they're going to get a great problem at everyday pricing. they shop, they've gone online, department stores, they've shopped other kinds of bricks and mortar they know value when they see it that's why they spend so much time and money on our shopping center. >> okay. another aspect i don't like that i hear about retail is there are so many going bankrupt so you would presume therefore when someone goes bankrupt that at tanger, you then get hurt when that place is set up again and a new shop comes in. you don't get hurt at all. >> at tanger we're on the offense. every space that comes back to us we get to reprice that space and charge more rent for it, bring in a new tenant, that tenant adds more vibrancy. and for us, we get to grow our bottom line. >> so let me ask you, though, because you do know commercial real estate. are we right to worry about office real estate because i know you know real estate there are probably some areas of real estate that have separate

and have nothing to do with what you're doing. >> interestingly enough we have our corporate headquarters and there is people in our office every day there are people in our office in new york every day. we see people, and i think that's starting to happen more and more i was driving through the city yesterday, it took me forever. people are back. people are on the streets. people are in the offices and i think that's a trend that we're going to see more and more of. >> the south is now where a lot of wealthy people have gone. nashville is a great example by the way of people going. now you've got a bunch of malls all over the country but are you looking in particular for areas that have northern expats? >> i think the south has always been strong for us i mentioned before myrtle beach, rehoboth beach and hilton head but nashville, there is no arguing what's going on in nashville. i think it's one of the hottest markets in the country right now. a tremendous amount of construction, creating new jobs every single day and that's what we're looking for. we're look for where people are migratiing to andnashville has become quite the tourist destination. >> the last thing, people are saying they've got to be worried

about how things are you don't put through that big dividend increase if you think that you're worried. >> we're pretty confident in the future we know that with whatever the headwinds that we're facing out there, we know that our customer is very loyal to us, and we know that if they want the best value and the best products, they're going to come shop at tanger >> i want to congratulate you for 30 years candidly, i've known your company for 30 years, and it's been one that i've always recommended. a and the reason is as stephen already said, in bad times people want a bargain. do they need a bargain in good times they want a bargain. and it is true and it's also fun. >> yeah. it sure is. >> thank you so much. >> thanks for having me. >> to stephen yalof, the president and ceo of just tanger thank you so much and good to see you. >> good to see you coming up, cruising throughs the cities we love today with the tech of tomorrow cramer takes a drive through the future, next

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these days, everybody is falling in love with artificial intelligence but you know what you can do with good ai technology? how about self-driving cars. that's why i think autonomous vehicles could be one of the big secular growth for the next ten years. which brings me to cruise, a privately held general motors back company that manufactures autonomous vehicle technology. not only do they have some of the best tech in the industry, they're actually generating revenue from it now. cruise operates a fleet of robotaxis in san francisco, phoenix and boston they have the next stage of expansion when they announce they're going into business in dallas and houston in the next few months i think they have a unique segment of the industry. let's take a look with kyle vogt, the co-founder and president and ceo and cto of cruise mr. vogt, welcome back to "mad money. >> hey, jim. thanks for having me good to be here. >> what have you learned from

phoenix, what have you learned from austin that you can bring to dallas and houston? >> well, we've been putting together a playbook. just about six months ago, we went live in austin and phoenix. and we went through that process of figuring out what's unique about each city, what it takes to go from our testing to rolling out a product and getting real customers using it. and we use that so we can expand into houston and dallas. i think we're going to be able to do that same thing but little faster and hopefully add more cities after this soon >> so when can we go beyond this city for instance, when i went to the super bowl, i had to fly into phoenix. had to go to the hotel it was out of jibz i couldn't take it i flew from dallas to houston. when am i going to do that >> the focus is on urban trips that's where the biggest transportation needs are that's where most people want to move around. each time we add a new technology, a new feature to this platform, we can roll it out on all the vehicles in all the cities so i think very quickly you're going to limitations of this technology that's really just been out in the field for a

year start to fall away as we expand and add more capabilities, higher speeds, more weather capabilities. and then you'll be able to do that trip. it's not that far out. >> i think that humans are lousy drivers. and if we never thought of putting them behind the wheel, we wouldn't have they drink they get tired do people understand the frailty of humans versus the brilliance of machines? >> no. i think we kind of turned a blind eye to it, maybe consciously or not but car accidents are the number one cause of death for teenagers on our road. and i don't think we talk than enough and if we look at avs, they have the opportunity to do a lot better and not make the same mistakes that we all do as human drivers. that's the big opportunity here. >> well, when you read reports of horrific car accidents, how often do you think that would not have happened to one of my cars >> i mean, almost all the time we feel like we're in a race against the clock and acting with urgency to get this technology out there so we don't have to live with the tragedy of

the status quo i know we can do better. this technology is the way not only is it going to be safer, but eventually it's going to be a lower cost and way more convenient and more fun way to get around >> i would vastly prefer to have one of your cars the a lot of the drivers i have when i do car service. would i be able to know or ask for a driverless because i feel safer? >> well, all of the cars on the cruise app are driverless. you know when you push that button and request a car, there is not going to be a driver. and we hear from our customers that they love that. human drivers, it's a little bit of a social experiment what we have today when you get into the car with someone you don't know. you don't know if they've had a long night or are distracted you don't know if they're even entirely sober so you take that anxiety off the table with a driveless car you're going to get a consistent reliable ride every time >> how often do i listen to companies, including one tonight, wendy's, where they talk about they'll deliver frankly, i'm happy to pick follow-up i know that the car is going to come and driverless

i would think that most of delivery companies would flock to you because the most expensive part of their operation is the human >> i mean, that's right. ultimately, when you take a technology like this and the initial version of every new technology costs a little more but as you see us start to take the cost out, the opportunities explode. and whether that's to do ride hail-like applications or delivery one of our partners is walmart, the largest delivery in the world. they're very excitedabout us using avs to get consumers to customers a at lower cost. >> let's talk about insurance. do the insurers see the numbers and understand that yes, there will be anecdotal evidence of accidents because there always are, but the percentage of accidents is lower so, we've got to give these cars a break on insurance? >> well, in this case, when you use a robotaxi service, the insurance is baked into the cost you pay on a ride. but i think for insurance companies at large, it's going

to be a long time before we start to displace all the miles on the road with avs i don't think that business is going to change overnight. as we see the improved safety performance materialize from avs, i do think it will change the way we think about insurance. >> one of the things that i think would be a natural, the worst moments in my life, many of our lives and one day i hope unfortunately will be mine is when you ask for the keys. you ask for the keys for your parents because you're just worried. would this be a moment where it wouldn't be that conversation would go quite differently, maybe even it would go in a way which say listen, i have a safer way for you to get around. you no longer have to worry about driving? >> yeah, i mean, you really hit on an emotional nerve for many of us at cruise. we all know someone who has had to have the car keys taken away. we know someone who doesn't have the same freedom of mobility that many of us do, whether they're in a wheelchair or whatever it may be i have behind me a version that will work with people with

wheelchairs you. imagine that people who have felt either limited in their mobility options or are worried about the mobility options declining in the future are going to see the ability to have that same thing that many of us take for granted for much longer and that's huge. none of us want to have that moment where they talk about taking the car keys away. >> is there any way to get the statistics i used to dig through the california statistics so that people understand the ratios of accidents humans to cruise because i think if people saw them, they would say why am i driving or i hope everybody else on the road is driverless, because they're very stark, but they're not talked about >> yeah, i mean, it's still early days so it's hard to make a pure safety comparison. but what we have done is we took our first million miles of driving and compared the collisions that occurred during that time to human drivers in the same kind of environment and what we found that the avs are involved in 50% fewer collisions, but more importantly, 80% fewer

collisions that were likely to cause injury so even in this early day, we're seeing signs that this could have a huge positive impact on road safety, and it's only going to accelerate from here. >> you're a good spokesperson for it the other guys are way too talking about a different kind of assisted driving that frankly does not intrigue me what you're doing is breakthrough i want to think kyle vogt, co-founder and president and ceo of cruise, who is a technology person who happens to be into cars thank you so much, kyle. >> thank you, jim. >> "mad money" is back after the break. coming up, wendy's gave investors a bit of sizzle this quarter. can home gamers expect a classic double stick with cramer. ♪

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what do we make of these results from wendy's this morning the burger chain reported a broadly better than expected quarter, higher than it has paid a revenue, 8% management declined to raise the forecast which is the reason i believe the stock finished up just over 1% it was 4% higher in earlier trading. the today the stock hit a 52-week high, but when you zoom out, the stock of wendy's hasn't done much in the last three years. after an amazing performer over last decade. can the stock get moving again let's check in with the president and ceo of wendy mr. penegor, welcome back to "mad money." >> always a pleasure to be on. thanks for having me. >> people don't understand why the stock should be higher at 23 bucks i think you're

getting a bargain, but listen, some people say it's been there a while. there is no reason for it to move. >> i agree with you, jim think about where our system sales were back at the end of 2019 we finished the year at $10.9 billion in sales we've driven our digital platform we've gotten more restaurants open base on our guidance, we should end the year system sales 14 to $14.5 billion in sales that's a lot of sales growth it's translating into great ebitda growth too. in 2019 we ended at over $410 million of ebitda. we've guided to 530 to 540 million. we're undervalued and underappreciated. >> i couldn't agree more i've been behind your stock for a very long time and i'm surprised it's been stalled here i liked it when it was at $6, literally a decade ago today you announced news i think is brilliant a lot of people worry about employment, trying to get labor. a lot of people are worried about mistakes a lot of people are thinking drive-through is not working

that well because it's hard to hear, whatever you did something, a deal with google today that i thought was revolutionary. i want you to talk about it. >> google's been a great partner. and we're really working with them on generative voice ai and how do we create a better experience in our restaurants first and foremost for our employees. how do way get our employees better positioned to work on the grill, make great food, make it fast, accurate, get it out the door with a smile and really take out that slowest point in the order process, you know, ordering at the speaker box. and trying to make that more seamless, more frictionless, a lot less lost in translation so we can focus on adding value to the consumer to get them through the drive-through faster, and to do it with a smile and i'll tell you what, google has been a fabulous partner. we're going have a couple of restaurants and pilot here in june in the columbus area, and were going learn a lot first step on a lot of innovation, we get a lot of opportunities still ahead of us on digital menu boards, continue

to push that hard too. you'll see a lot of other innovation to see how we drive the restaurant in the future in the next few quarters. >> how about late-night business what's your plan there >> late night first and foremost is about getting staffed and getting those restaurants open we're going to lean into late night. we know we've underindexed and have an opportunity to drive a lot of growth. we got the whole system lined up to now support advertising midnight or later as we get into the summer months. we've got the full force of the system lined up behind it. we got a great customer following at late night. we need to be open more restaurants more, often. and importantly, we continue to drive delivery and there is a lot of delivery business to be had at late night if we're open. so we're going to lean into that too. >> how does that work? watching a game later, watching the sixers beat the celtics, and it's 10:30, went out for a couple of burgers? is that what happens >> there you go, jump into the wendy's app, go to doordash, any of the service providers, you

can order wendy's. we're open past midnight you can stay up as late as you want and watch all the highlights from the game, jim, vand a greatburger from wendy inflation. i know you, todd you're a straight person who in the chain -- i don't want the say they're individuals, but is the responsible the most for prices going up? and have you ever called them and said listen, this is unacceptable >> well, i think it's across the board, jim use know, we've got a macroeconomic challenge. you think our supply chain the last several years, you think where some of the supply and demand imbalances have been. clearly the input costs in the restaurant have gone up, whether that's commodities or labor. we've taken some pricing we haven't passed it all on. we're still doing a nice job, continuing to expand our margins. it's really on creating better experiences for the customer to come through the restaurant more often to drive speed through friendliness and great-tasting food every time. but it is a shared pain that we're all experiencing right

now. we're seeing a lot of nominal wage growth out there. haven't seen the real wage growth yet but as commodity inflation starts to slows and the consumer has more money in the pocketbook, it's a business business to drive more sales in the business >> you were sounding quizzical you said free cash flow in the first quarter increased over 40%, but it only amounted to $63 million. that the way the operation, you just don't have a lot of free cash flow? that's not a big number for a big company. >> no. when you think about our size, jim, we've now guided to be 265 to $275 million of free cash flow we're an asset-lighter model our first quarter is usually our lightest quarter on free cash flow, but it's up significantly year on year so we're right on track to deliver on the expectation that we have. and as you know, we've got a lot of cash on the balance sheet, over $700 million today. got an opportunity to continue to invest in growth along the way, and we have a great dividend yield out there for investors too. we're up there at $1 a share on

a full year basis, and about a 4.4% dividend yield. when you think about growth and you think about having nice income stock, we've got it all really bundled up in the wendy's story. and we just need to continue to tell that. >> oh, i totally agree with you. one last question. i know you as somebody that has surprises on the menu. so when we go this summer, when we're going out to eat, what can we find that is going to blow us away >> we have a couple of near term coming out you have ghost pepper ranch chicken sandwich and fries that's going to be a great offering summer strawberry coming back, we have our summer strawberry fastee back into the restaurants. we have an unbelievable frostee cold brew that will support our breakfast business and we'll have other really cool surprises. we've got new great news coming on the made to crave lineup. we've got stuff we're going to continue to talk about our story, fresh never frozen beef we talked about that through the ncaa tournament which squares the beef campaign.

in the first quarter we sold more large hamburgers than we have at any point over the last six plus years so we're actually seeing folks not only buy off our value menu with the great biggie bag offerings but the across the menu every day and made to crave innovations. and you'll see that coming in the back hatch negative, triple baconator >> there is always a triple baconator you. customize. you want the t-rex burger and get 16 patties on that, jim? we will make that for you. full customization. >> that's one of the reasons we always go to wendys. that's todd penegor, president and ceo of our personal favorite, the wendy's company. thanks for coming on the show, todd. >> my pleasure, jim. always fun would be the you. >> thank you "mad money" will be back after the break. - double check that. eh, pretty good! (whistles) yeek. not cryin', are ya?

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it is time, it's time for the "lightning round"! play this sound -- [ buzzer ] >> -- and then the "lightning round" is over are you ready, skee-daddy? let's start with carlo in new jersey carlo? >> caller: hey, jim, how you >> i am good, carlo. how about you? >> caller: oh, boy, i'm doing good thanks for taking my call, jim great show watch you all the time. >> thank you, carlo. thank you. >> caller: my stock, jim, is pfizer i like the company i -- >> no, no. i like pfizer ceo. but you know what we like here we like lilly or j&j j&j perhaps the most hated pharmaceutical in the world because of the talc litigation, which i think will be resolved to the positive of j&j let's go to michael in new jersey

michael? >> caller: boo-yah, jimmy. this is awesome. michael here from waldwick, new jersey in bergen county. i bought this stock in 2019. paid a small dividend. i'm up 110%. i'm doing more homework. what do you think about trade web markets? >> i like it nonfinancial initial in other words, they just do trading. ooh. >> buy, buy, buy >> i think you have a fine choice there adam in illinois, adam >> caller: hey, jim, boo-yah. >> boo-yah. >> caller: listen, a few months ago, in a fit of irrational exuberance, i bought something called square, now called block but performed like blick what do i do hang on? cut losses >> i don't like the stock. i always like a company that has a ceo. i'm kind of focused on and then second, i don't like any of the financials that are in that segment. we're going to have to just say -- >> sell, sell, sell! >> probably get a lift there is always somebody out

there so eager to get their business that they'll say something positive about that and maybe a little lift on that faux rally let's go to joe in new york, joe? >> caller: jim, happy boo-yah tooia. >> right back at you, my friend. what's happening >> listen, jim, as this big tech company tries to win the ai race, i'm concerned that their chat ai like offerings may cannibalize their paid revenue streams. what are your thoughts on google >> that's why we sold a tad of it after owning it for years and years for the charitable trust i said exactly like that to club members. i've got cut it back a little because i am worried about the fact that they could be cannibalizing. that said, they're awful smart people they have a lot of these cooking. so we did not sell it all. we just sold some. i need the go to allen in florida, allen >> caller: boo-yah to ya jimmy chill. >> yo, what's happening? >> caller: i keep hearing there is a nuclear renaissance taking place worldwide. there is a new technology changing the game, smoll modular

reactors bank of america is climbing on board. from what i hear, there is not enough north american uranium. is it too early for stock like uranium energy corp. >> i do think it's too early i do agree with you. small module are definitely going to come back i agree with you that it's a terrific concept, that it's very good for the environment but i will say it's too early to buy that uranium stock how about we go to david in iowa david? >> caller: yes, jim, you asked -- you said something about oil stocks yesterday, and i just wondering about the krp that's not the radio station, that's oil stock. >> no, it's got a good yield it's a distribution situation. i like it very much. i happen to like that kind of stock. let's go to jim in virginia. jim? >> caller: hi, jim this is -- i'm talking to you about cannon in strong -- >> i don't like companies -- this is a debt lender. i want to be an equity holder.

i have to say no thank you let's go to skip in connecticut. skip >> caller: boo-yah, jim. i'm here for you i'm sending my kids to mail order college. i'm anchoring their portfolio with tfc >> tfc, it's a really good bank, but until we get finished with the banking crisis and find out how much the fdic is going to charge them and how much they're going to be able to lend, i am reluctant to say go buy as much as i think it is a good situation. it's a good situation that does not make it into a good stock. let's go to greg in tennessee. greg >> caller: good day, mr. cramer. it's a pleasure to talk to you >> same. >> caller: my question is about air products, ap -- >> i don't like the quarter at all. it was major disappointment. why buy air products when you can buy lindy, which is a competitor which doing far better my charitable trust talks about it endlessly in the cnbc investing club

linzy the one to own if you want to be in that business paul in massachusetts, paul? >> hey, jim, thanks for taking my call. i just wanted to cy what you thought about this stop, hub spot >> now the last quarter for hub spot was good. now the stock is going up, up, up, up, up, up for that quarter, and i'm done wit >> sell, sell, sell! >> i think it's time to ring the register that, ladies and gentlemen, the conclusion of the "lightning round" [ buzzer ] >> the "lightning round" is sponsored by td ameritrade at adp, we use data-driven insights to design hr solutions

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when is a huge decline a buying opportunity and when is it a gigantic red flag it depends on the industry two days ago we got some pretty upsetting record cards from skyworks and paypal. skyworks is a major producer of communication chips and gave a very down beat view of things. >> [ booing >> it cuz kind of depressing paypal, hmm, so you might think paypal is the buying opportunity. one negative little, just nitpick, right meanwhile, skyworks seemed devastating. no comeback in sight yet in reality it turned out to be the exact opposite. skyworks saw its stock fall 13 points right around the opening yesterday. but if you sold it there because of worries about its clients, especially apple, you completely blew it. on the conference call skyworks didn't blame apple at all.

they blamed android and some of the smaller low-end chinese phone markets. to me, that says -- >> buy, buy, buy >> and china has only just started recovering i expect a real robust comeback there. we know from a diverse group of companies operating over there, the most obvious being starbucks it's taking a little more time tom back when that we thought. skyworks rebounded to finish down less than 6 bucks yesterday. but paypal, it dropped and it dropped, and then it dropped some more. it never lifted, today another 4% paypal is in the wrong neighborhood it's considered a financial and nothing feels safe in that segment. >> the house of pain >> at one point paypal was the darling of emanagers, and right now it looks like a bank right now banks are poison so many ways to pay for things online and in store, including the very competitive apple pay that there is no such thing as financial where it's one line is soft, at least not in this

market in this environment, every financial is guilty until proven innocent that said, i think when you look at these big declines, it's earnings season, we've seen more skyworks situations than paypal ones there are so many towers that bolted from amd and its stock dropped from the high 80s to the low 80s in a heartbeat, and a nice sized position in the charitable trust we went out hard, to say nothing was wrong for the cnbc investing club, and it was a buy. >> buy, buy, buy >> sure enough, the stock is up 16 straight points from the low in large part because amd is working to develop an ai product that can compete with nvidia i think amd has run a little too much at this point, but if you wanted apple when it was 81, maybe you ought to sell some up here at 97 of course we're sticking with it long-term because we like it for the charitable trust first horizon, that's a regional bank by bryan jordan that had been a staple here on "mad money" until it got an unsolicited takeover bid from toronto dominion

that deal should have been approved months ago. be we kept hearing about a delay caused by the authorities. i thought there was a problem with the deposit base. nope it turns out the problems were all on toronto dominion's side our government wasn't happy the way the canadian bank handled suspicious transactions. the fed says they're too slow to report them. wow, now that we know the truth about this $13.4 billion deal that went sideways, why not scoop up the stock of first horizon down here because it's only valued at $5 billion. and in any other environment, that would make sense, but not this one who cares how cheap the stock of first horizon has gotten you simply can't touch it because the financials have no underpinnings and the regional banks are the most hated of all because there is too much uncertainty about the future of the industry will there be higher fdic fees will banks not be allowed to make as many loans or maybe buy back dividends or off the table? we have no idea. so no clue whether first

horizons stock is cheap or not it's impossible to tell. so my advice is simple tech blowup, consider it a -- buy, buy, buy! >> financial trashing, let's just say take a hard pass -- >> don't buy, don't buy, don't buy. >> i always like to say there is a bull market somewhere.prpri i omise to find it hi i'm brian sullivan in tonight, inflation still taking a big bite out of your money, and we'll show you something simple to prove it and hear from a man that runs one of new york's biggest grocery stores. bipartisan support around something we can both get around. if you come at the ai king, you better not miss. a wave of new ai products help google take out chatgpt. to the intensifying border crisis tens of thousands of