91%, commanding top rents, it's worth a look at. >> steve grasso? >> rivian. since going straight down since november of 2021, the stock has a pulse. >> all right thank you for watching "fast money. see you back here tomorrow "mad money" with jim cramer starts right now welcome to metlife. i am kramer. call me. i don't know about you but, i getting

tired of --. the dow is off 366 point. let me highlight how we think the market is about to get difficult. we don't need the nuanced and lazy thinking with all of the pitfalls. this is important because there is no shortage of stupid nonsense on wall street right now. the treasury secretary says it does not matter. the chinese government wants high performance and a pledge to conquer taiwan but the communist party wants you to understand they aired not stealing trade secrets but just sharing those in a benign fashion. these are just total and possibilities.

our government wants cooperation but we are not going to get it. the chinese government is making quotes. they are not on our side. they are not going to change anything and they never do so don't get your hopes up. there will be no minimization of tensions because china does not want that. they just want us to buy semi conductors. now, the idea of the opec still matters. they like to stand in front of microphones and tell us how well they are doing. i think the un actually believes it but it is preposterous. opec is controlled. lots of our producers are producing

aggressively. they love to tell us they are -- but, give me a break. they are desperate to get more money. the cost is selling more and more crude to china and india. they are a district of campaign. now --, it's oil productions doubled. it opec is a toothless tiger. you know what else does not matter? there was a time when we did not care about this. now we treat them like gospel. not much else is happening so why not obsess over something that is important even though it is irrelevant. i think the economy is red hot. like unbelievable. but, the fed has gotten the

final way. i fear it won't be that good for the market no matter what. that has not change because we have a massive housing shortage. stupid nonsense number five. wells fargo did well. we can find out after. otherwise it would be here in the essay. they will likely give you a lot of reasons for that. so much of that passes. it doesn't matter though.

i say you just tune them out. minimize the confusion. one bank of america rises. how about if i told you they are using what should we focus on instead? we get the june labor report tomorrow and that is the most important >> it could get clobbered. honestly, i used my free tame

to watch shawshank redemption and fugitive over and over again but here is the temperature of the moment. raising cash that we have been doing you are really sticking your neck out. and they can offer conjectureyou cannot be breathless about the non breathless. you cannot be over concerned with numbers that come out the sides the payroll number because they are often errant in a way that can hurt you. unless you are a full-time

trader, it is pure distraction at home. there are lots of things that might be important. they are meaningless but they hurt you. if i were you i would tie myself to the mass these are just don't fall for mt nonsense. and like our trust and, bomb new jersey. >> back your integrity makes

you the st. of wall street. it is fluctuating as of late but it has good motivation. is it a good keeper? >> celsius is one of those con companies that is charmed right now. the fact that dasha tells me that even though they are not making money you can still get in on celsius but understand that is a roller coaster. kind of like, maybe like a ferris wheel. i threw up on it wants but don't fall for stupid nonsense. there is more of it out there than you think. so, should nike be known as a growth company? we will take a closer look.

am i will share where i come down on it. and, rings may not go up. and we will sit down with the ceo to find out how -- is coming up so stay with kramer!

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whenever i hear mike executive start a conference call with the statement, "we are a growth company," i wonder, are you really? it means that the numbers are not really there and that is how i feel about nike. the ceo opened his statements with nike is a growth company. but that story has been called into question. despite the endless hyperbole, very unusual behavior from what is normally a no hype team over the years.

if you are vance, different story. the same goes for holcombe. i was on vacation when nike reported. the olympics will be in a paris next year. the more i dug down the more i realized that nike might be having sweetcorn -- it is just

not making enough money. much less than it should considering its dominance. they will not own up to it and that is not the nike that i know. first, there is still one more quarter to go through the channel. so i have a lot of merchandise i can't get rid of. they also describe it as promotional. there is a race to the bottom but it's competitors are not talking about promotion. i am stunned that nike is in such a bad place. they have the best-known basketball stars all wearing their product and they have the

jordan brand that is in the mid- 30s even though many people buying the shoes were not buying this. nobody else has that kind of advantage so how come they are not blowing away the numbers? on the call i kept coming back to inventory over and over again. with the ever be able to unload that merchandise? at the same time, they are still working through --. it is insane. this is long after the pandemic. i am not aware of any other company that is still troubled, seriously, by freight and supply chain woes. nike is still plagued by this., so there is an execution problem. i am shocked here. nike has

achieved what others can only dream of. they are best in show. their fan base is so intense you would think it would be better than starbucks and apple. to have global soccer at city at 25% and to have the shoe that owns basketball into heaven tremendous worldwide franchise? they should really be the growth company and they should be running rings around to everybody else and that is why it is so puzzling that they expect revenue growth to be flat. this is the nike. how could they have gross margins declining because of higher in pot costs and logistics expenses and still have markdowns. for most companies that is last year's litany.

they say things will get better but that means the margins will be down by 50-75 basis points. hallelujah. come on, you guys! you are athletes, aren't you? we don't want to hear about being beaten by a better score. give us a win! it's not that hard! they cut middle inventory out of it. they are looking at social media. they are moving the wrong direction and that is such a lucrative channel. it doesn't matter though. but maybe that is the problem. maybe nike is focusing on partners meeting, they have to

unload their own merchandise. i'm sure footlocker could unload their material. however i am tempted to know if they are -- in the business but i think they are too small. did. just one fantasy football was -- the business. they could have made so much money on nfl merchandise that they want went professional and not fan. this is something that happened under the previous sale but this might be the most ill advised deal in history. we will find out how much money nike will have left after this. other than that i don't know if you can pin this on the

previous ceo. the rest of the market is up a bit but dashed her took over at ed an auspicious moment. i bet we walked back at this time and wonder why we did not clamor to buy the stock. in the end they can get rid of the excess inventory. they will look back at people like footlocker and wonder why they didn't give more preference to 's sporting goods. nike and the stock story is very much at odds with the company. there are so many sports sponsorships. this is one of the most beloved sponsorships. but i think their biggest problem is that the stock level and at the company level. with multiple miscues, they are

undeserved. their valuation seems too ambitious and positive for stock that has done nothing over the last year. they now are trying to reclaim their gross status but that is not a good sign. stick around. when the short term is this ugly, i would like to say, let's be gentle but confused by management. coming up, is delta air lines ready to fly higher? or is now the time to take profits and look fair plain come back down to earth? cramer is giving you his take up next.

, the bull market in travel came back this month. the airlines rallied 17% but, we have known about the post covered travel bulb for months. the stocks that lost about a year ago and wall street became convinced that josh so, what changed? it has been a year and there is no recession in sight. i think the bears finally capitulated last month. even if they still think we are headed for a recession they are not living up anytime soon. figure huge gains. delta is up 45% and united is up 40%.

but now we have to ask what comes next. historically the airlines have talked down. they make short term trades. but they often got you killed as long-term investments because this is the classic boom and bust industry. delta, is the best run airline and they just hosted a very informative investor day that made it clear what has happened. the theme of delta investor day was beyond covid-19. going forward they believe that we are in a period of higher demand for air travel. benny analyst put it through targeted hikes and they made a good compelling case but looks let's look at the exclusive numbers.

delta upgraded its numbers and reaffirmed much of its previously introduced guidance. there was little to complain about. delta now expects 17-a 2% growth for the full year of management. they have very aggressive management growth but now they are looking at 17-20. there operating margins are coming out much higher. earnings raised up to 2 1/4 and even up to 250 for he full year. delta sons says earning should come in at the high end of five dollars-six dollars. they raised their cash flow outlook taking it up to more than $3 billion.

they have become a cash machine!. these are new numbers though but delta was able to convince wall street that the 2024 numbers were achievable. they were talking about seven dollars per share. it would be huge if it happens but, we have more details. delta says they will they will grow capacity by mid-single digits but they expect nonfuel costs per available seat mile to decline. at the same time they expect capital expenditures to shrink by half $1 billion next year. the seven dollar per share does not seem realistic. but they told you that would be the number since last july but as the fed kept tightening, it flashes their assets. last october the consensus is

that they would only have 6 1/4 per share. now we are looking at 732. it all comes down to the details. in the investor day last tuesday, they explained that the pent-up demand for travel is still looking at a long way to go. we are now into the post covid 19 recovery but according to delta air travel has a long way to go as a percentage of gdp. this makes up about one point two % of gross domestic product. ceo ed bash and says this. he says this backdrop is unlike anything any of us have ever seen. he believes we have about $300 billion worth of missing travel demand to recover. he says,

"while everyone is talking about pent-up demand and revenge travel we have not even made a dent in the $300 billion. but what about all of the recession fears? will people stop traveling? everyone is worried about the consumer. i get it and they should be worried about that but, not in this sect. employment is strong and wages are up. trends continue. that is before you fact in the demand for travel post domestic. i think bastion makes a compelling case and delta is the way to go because they are the number one airline when it comes to operational availability. the bottom line, all travel stocks are on fire and estimates are rising.

i am coming around to the idea that the travel boom may have legs after stocks go down. stick with the best in class names and remember, i think there will be a selloff. so, by delta! kyle from new jersey. >> hey there! how are you? >> i'm good . >> i feel like i know you personally and i love you to death. all of the haters, i will tell you this. your advice let me quit a job that i hated. i was miserable. i was able to open a small business in new jersey through the stock market. i have been holding the stock over the last two years and it has been killing me. my stock started to selloff

again and it made me sick to my stomach today. what am i doing with it? >> people should know, i just shook hands with the executive producer and he comes to work and says let's help people like you. uber is a great company that is stalled right now. management is good and i say stick with it. your comments are pure joy to me and regina that have and doing this for 18 years. ray! >> thank you for taking my call. and nine point $2 billion loan from the government. does it impact stock prices? and when will ford begin delivering to dealerships and stop using supply chain issues as an excuse?

>> for that did have a decline but they are doing fine. i know that jim has a lot on his plate but i think what he is doing is becoming more of an advocate for the company. travel stocks have run recently. and i am coming around to the idea that the travel boom has leg when it comes to the airlines stick with delta. coming up, headed -- fair this season. and one of my buddies said that parting is such sweet sorrow? how does that apply? we tell you what we are doing right now. and, all of your calls rapper fire in your addition of the

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so, what about the numbers we just got from levi strauss? they are one of the best. when you drill down, management lowered their sales things forecast so is there any reason to pause the story heading into this part of the year. let's go to chuck berg to get a better read.

welcome back to mad money. >> it is good to see you again. >> same. this is your last time as ceo and i think you are giving the company to good hands but i am concerned that you told us that revenues could be down and i am wondering, what kind of hand you think you are giving her? it's >> may be the greatest gift i can give her is a low base in the low stock price. i don't know if this is my last time unless you know something i don't know. >> no. i just know you were in transition. >> we are in the midst of transition and it is going well but, we knew coming into this year that it would be a tale of two halves. we knew the first half would be really challenging and year up against strong comps.

on a first-half basis we are flat. so i would say that is reasonable in light of everything that is going on from a macro economic standpoint. we knew in the u.s. that we would have a big conversion at the end of q1. so we shifted revenue from q1 into q2. and that distorts things. but what i would say is, our direct to consumer business and international business are fueling result. we continue to see strong direct to consumer growth. even in the u.s. we have been challenged in u.s. wholesale but our mainline business is growing. and it is comping positively. the levi's brand is strong and we are growing.

we have big tailwinds coming in the second half with easier comparisons. we expect to see some momentum going into the holiday season and into the end of the year and next fiscal year. >> chip, sometimes when you have a hand and you have an aspect that is so strong that you want to put all of your money down, i see that in a beyond yoga and in china. are you able to pivot and put big chips in? >> asia is a bright spot this quarter that has helped by china. michelle and i were in china just a few weeks ago and it was my first time there in 3 1/2 years and it is back. our china businesses back.

we have taken our expectations for asia up for the second half of the year in part driven by the strength that we are seeing in china and that will help offset the weakness that we are seeing in u.s. wholesale. i am optimistic about china. some of this is, for sure, pent- up demand from locked down. there is no question about that but on the human side of things, hearing stories from employees about what they went through during lot down, it was hard. we are seeing the post locked down spending spree as consumers come back and that is lifting our business and contributing to the strength that we are seeing in china so we are very optimistic about china and asia overall. we are

putting our chips on the table in the markets that are growing. latin america is another big growth engine this past quarter from an international standpoint. >> beyond yoga, am i wrong that that could be strong? i think you have a winner here. maybe that is the next leg that would make people realize what a great brand you have. >> we are really happy with the results on beyond yoga and results accelerated

we are very optimistic about this brand and that space has just boomed over the last decade and there is plenty of growth left. we continue to invest and we are learning a lot about retail and e-commerce. we have a super differentiated product but the consumer, when we get them to try the brand, when they put it on, they are blown away and they keep coming back for it so we have strong loyalty to the brand. >> it tells me that you have something that if you decide to emphasize it will be a winner. there is nothing to lose to do so. we saw what happened with lulu lemon. we know that they are still

under --. >> the structural economics are terrific. we are still learning a lot but very optimistic. and i think that we have a long runway of growth ahead of us. >> i have got to say, chip, i know this is a tough environment for apparel but you are looking good. president and ceo of levi strauss, thank you for coming on. >> thank you for having me. >> big money is back right after this. coming up, cramer takes her calls and the sky is the limit. it is a buyers fast round.

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it is time for the lightning around!. the lightning round, let's start with michael in maryland! michael! >> hey! what is the disconnect here? >> is soon as we start making money we can look at the companies that are good to make money!. let's go to andy in pennsylvania! >> hey, how are you doing?

now that production issues are resolved, do you think it is a good investment? >> i think -- would not do that. now let's go to megan! >> hey hey there, doctor cramer! first of all, i joined your investment club a little over one month ago and i was a little apprehensive but, wow!. if there is anyone that was out there on the fence like i was, make the leap. it is worth it. >> i think so too. thank you, very much! >> any way, i recently started

to overinvest in my ira. i wanted your opinion on --. it is a telecommunication company out of the middle east. it is called oars. >> i like your idea long-term. i don't know. the fact that you called is just dynamite. dave! >> hello, mr. cramer. how are you, my friend? >> i can good! >> so, up 50% on the year and

it maintains margins and has a delivery backlog. can you up date on that? >> it is a true juggernaut. it has defied me. they know what they are doing and they are in charge though. it is winning over converts like me. let's go to jeannie in you new jersey. >> a high there! how are you? >> i'm doing well. >> walt disney company is number one right now. what do you think? >> i think this is going to be

a very tough quarter for them. why? you can say because i am an idiot or moron. but, the fact is, right now, it is just test. let's go to hugo in florida. >> hey! how are you? that >> i'm great . >> i wanted to ask you about --. >> here is how i feel. i want an etf for big coin. i'm not saying i can't find out enough but, let's not go to james in florida.

it james! >> i would like to know what you think about craft. >> i look at what they had to sell anything, is this what america produces? sorry to be so blunt. that is the conclusion of the lightning round! coming up, we set up for the second half of the year and cramer is dishing out his thoughts on where the market could be headed. could be headed. that is up next. you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me?

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lately we are -- what is known as a set up. put a lot of cash out and putting more money to work. those days are over all i would have had a breakdown by now.

my entire process including the selling that we have been doing. while i was away in iceland i came up with the new thesis. it is not a good one but i just tell like how -- is setting records. i know that if the first half of the year is strongest, the second half is not. when we are thinking about a discrete time things can go down. right now i am feeling unenthusiastic about the period of time we are headed into. we saw a huge line of money come into --. people call that quicksand money. but so many are johnny-come- lately.

if it was not obvious that we had decided we this yesterday it should be today. these are the enemy. they are sellers, not by years. so many people made so much in the first half that they are profit takers. my discipline said it was time to take all of the money out. we would not tempt fate and just day trade. we were done. if i was magic many i would and going to the movies. why turn a first-half win into a secondhand loss. clients want to see the managers own the right stop.

-- might undermine twitter. what the calls are you going to buy. window dressers are reverting to the true positive --. i checked in with williams. a master market historian who said that the trades could be historic. finally, a lot of our favorite stocks have advanced too far and too fast.

to part with, but that's okay. professionals part with stocks they like every day if they think they are headed even lower, which is what i believe, as we head into the dog days of summer. i like to say there is always a bull market somewhere, and i will try to find it right here for you on mad money. i'm jim cramer, see you next time. last call starts now. i am brian sullivan and tonight, guess who is calling who a cheater? elon musk turning legal on mark zuckerberg's threads. cnbc in the past few hours, he said something that had some tech watchers very excited. a breakthrough in the battle against alzheimer's. we have breaking developments. delivery apps are biting back at the big apple. a legal