cares about their stock price over time, not ever. i'm short igv an added to that short today. >> steve >> y.o.u added terrible news flow week last week. the stock actually had an earnings beat,

actually, yes. yes if you're a portfolio manager who abandoned stocks when interest rates go up, which is what happened pretty viciously in the debt downgrade. the treasury can't be worth as much as before so stocks therefore can't be worth as much either as hundreds of billions of dollars change hands on the direction of bond yields when the yields go up, rates go

higher people automatically sell-off. sell, sell, sell >> it didn't help a recession if the economy slows. very hard to see a recession if the economy doesn't slow the stocks that hurt the worst are the high-flyers. i want you to take cramer fav advanced microdevice tremendous growth in semiconductors for artificial intelligence it shot up six points in after hour trading we knew it was going to be a terrific day of trading the next day based of fundamentals. then out of nowhere we got the fitch downgrade. yeah if u.s. treasuries slip to their double a plus rating, amd stock went being up $6 to being down $8 having interviewed the ceo this morning on "squawk on the street," nothing else happened beyond the sovereign debt

downgrade. consider it the control in a lab experiment 14-point swing based on the bond, not the stock, not the fundamentals of the company. does any of this make sense? look, you could easily argue that our government is dysfunctional because every time it's time to raise the debt ceiling, the two parties go at it hammer andings tongs the government can run out of other countries don't do that. not because the main political parties hate each other. but you know what? that's certainly not a new concern. and you know what? it did impact amd, and it hurt amd. and i wish it hadn't, because amd reported another day, it probably wouldn't. so let's boil this down. let's figure out what it means to have our debt downgraded. sure enough, we're blessed we have an analog. 12 years ago we had a vicious battle over the debt ceiling that also hurt the economy what happened? s&p, the other big ratings agency downgraded u.s. debt in what seemed like almost a

cataclysm at the time. the stock market which had been plummeting before the downgrade really got smacked down as the nation plunged into fear and a bit of loathing. and you can see this, if you don't mind, i'll walk over and show exactly where we were, the s&p 500 which will be trading at its highest 1356 in july of 20 leonardo this is 2011, okay on recession fears stoked by the debt ceiling standoff. when we got the surprise ratings cut, the s&p fell even further, as low as 1,101 within a couple of days. this is a real plummet all together this ended up being about a 19% decline. and it was totally temporary that's right this whole thing all the debt stuff, you could just wipe it away, because it was totally temporary. it was an awesome buying opportunity because one year later, the s&p 500 was back up at 1,402 like the whole thing never happened the sovereign downgrade was an incredible buying opportunity.

>> buy, buy, buy >> i know it sounds simplistic, but that's what it was see, i remember it well. i had been at the eagles training camp. i've been a season ticketholder forever and i like to think of myself as part of the team i often address the players to talk about finance most of the time they're not really interested. who can blame them when they're on a hot field for hours you're not going to hear someone say you ought to put your 401(k) in an index fund or you only need to get rich once but when i went touring the debt ceiling crisis, i was the most sought after speaker on the sideline one after another, players asked me what it meant for their paycheck, for their savings. many wanted to know if they could still invest in the united states, or would this mean that our company might ultimately default on its obligations i worked hard to try to dissuade people from selling their stocks, going as far as maybe thinking about buying. it was pretty awkward. while i was viewed as someone

who knew something, the players didn't know what i was doing there, and they were just plain fearful, like pretty much everyone else at the time. believe me, it's a little unnerving when you see a 350-pound pro football player agitated by the s&p's credit rating division. i thought i took the bull by the horns and said listen, i'm going put money in my 401(k) as soon as possible. next year needless to say i was the bell of the practice ball. now this time 2011, we came in hot to the sovereign debt downgrade. not only is tech on fire, but yes have low dollar stocks, like that of liquidating trucking company that went bankrupt or kitchen canister with growing concern issues most of our trading way too hot. i think the situation in 2011 isn't exactly the same on the other hand, the second ratings agency downgrade is never going to hit as hard as the first one. so just as we can rely on historical examples to draw a conclusion base in 2011, i would offer another thesis

as of the end of july, monday night, the s&p was up just under 20% for the year you know if you go back to 1928 when the s&p 500 is up at least 10% through the end of july as it is now, there are only three years where the market was lower over the course of the next five months and all three are pretty easy to understand, the 87 crash, the 29 crash, and 1943 when we were still uncertain how world war ii would play out now those are some very powerful i think dispositive as we would say at law school statistics people react in fear beyond the downgrade today? my gut tells me big money managers used to it do trimming today. i do see some falls in the market, not as much as i expected which stocks had the biggest short positions, when we get that kind of stupid behavior, you have to -- i think that's where we found ourselves today we need to see more fear i'm not going to say i want to

go back to the u.s. practice field on how they're positioning their millions the sell-off so vicious that it's worth waiting to see if we can't get some sort of bottom that's based purely on fear and loathing out in the future we're looking to put crash for the travel trust we got a boatload of it. but we still think we might get better prices, and that means lower prices join the cnbc investing club for more bottom line, i'm not concerned about the pitched downgrade. i am concerned that too many people remain too sanguine at the moment that's not what we want the see. when you get too many bulls, it tends to eventually cause an a nasty sell-off so maybe some fear and some loathing are just what's called for. let's go to jeffrey in new york. jeffrey? >> caller: mr. cramer, i'm a club member and first-time caller >> thank you, jeffrey, for calling, and thank you for being a club member. we're putting out some great stuff. people should really get involved how can i help >> well, i'm a long-time

follower of your advice from when i was appreciating guidance from reverend jim. >> the old days with mark haines how much i loved coming on with him. how can i help you >> caller: i bought ulta six weeks ago at $185 and declined the last several weeks to below 140. is elf an oddity taking market share in the reason for the decline? ulta earnings are august 23, what is your advice and guidance now? >> okay, so a great kurt it's terrific news there is a correlative to ulta at 438 is sort of a no-man's-land. sells at 17 times earnings we love dave kimball who is the ceo. i think ulta is a very good buy, but it's a very tough trader let's go to gordie in washington gordie >> boo-yah, cramer thanks for taking my call. >> boo-yah

what's up? >> took a while. a lot of hard work i finally got to a thousand shares of ford, and i'm thinking if i would have done something else, maybe could have made some scratch. but it is what it is hang on or sell some >> i want you to hang on i'm not happy. i do fear a strike i also fear that the electric vehicle division is losing too much money the rest of the company is making a lot of money. they actually did guide numbers up but they have to figure out to make it so the electric vehicles don't drain all their profits. and we have to see if that occurs it has been disappointing. let's go to mitch in arizona, please mitch? >> yeah, jim, mitch in arizona that's correct. >> excellent >> yeah? >> would you agree that earnings report in most cases are stock killers? >> are stock killers no i think that it depends on where stock is coming into an earnings report i think there are a lot of companies that people don't believe in and when they report, they're

surprised to the upside. i'm going give you an example, one from the trust take procter & gamble. everyone thought proctor was going to miss. proctor did a very good job. the stock has been straight-up that's an example of what i like to see there are plenty of buzz kills like a qualcomm tonight, which is exactly what you said but i'll trump that with a proctor. let's go to john in texas, john? >> caller: hey, jim, i've been watching you since the kudlow days. >> geez! people hanging with me for a long time. what's up? >> caller: you guys taught me that earnings are the mother's milk of stocks >> they sure are >> caller: hey, jim, i want to ask you about one of my long positions in the aerospace and defense, arc it. >> okay. >> caller: significant after market positions jim, what are your thoughts on transdime? >> transdime is a very, very good company and the aerospace business is very good to them. i know they have a good balance sheet and do a lot of different

things it has been in one of my bull market sectors, and i'm going to tell you, i think it's good. i am not concerned for our nation pitch downgrade there are too many people right now who are too sanguine about the stock market, because we don't want the get too close to a very nasty sell-off in light of what we've been seeing which is some froth and a belief that stocks don't go down anymore columbia, what is it going to take to have the company dress for success? i'm going to check with the ceo. we're bringing the legendary williams, the man himself who's big call on tesla, let's say you got to see it. and doordash popped after a stronger than expected quarter i'm taking a bite at the number's with the company's top brass. so 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 1-800-743-cnbc ado maonhing he tdmey.cnbc.com. ahhh! icy hot pro starts working instantly. with two max-strength pain relievers, so you can rise from pain like a pro.

icy hot pro. my cpa told me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip sound] take the first step to see if your small business qualifies. ♪♪ at morgan stanley, old school hard work meets bold new thinking. ♪♪ at 87 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. old school grit. new world ideas. morgan stanley.

♪ this group has been hated for a year now, and only gets worse even for the highest quality operators. it just crushes me take columbia sportswear, the outdoor apparel, sorrell, piranah or mountain hardware these guys just reported a solid set of numbers but even columbia doesn't believe they can keep this up. management issued what i call a mixed quarter outlook, and cut their full-year forecast

talking about softening consumer trends in the u.s. worse, they said they would be taking a more conservative approach to planning the balance of the year, end quote which sounds like they're going to do heavy discounting to clear inventory. that doesn't help margins. that's why i think the stock plunged 4% today will it beat expectations, they want to beat them going forward, in that case the stock could be a buy. but if there is too much inventory and it can't be sold down, then it's too risky. don't take it from me. let's talk with jim boyle, the chairman of columbia sportswear. mr. boyle, welcome back to "mad money. >> great, thanks, jim. great to be here. >> i got to tell you, the stuff has never looked better. just had a big fishing trip. the shoes a great, the jackets, all the uv yet i notice you are not happy with the inventory position. you are concerned that things aren't selling well enough why is that?

>> well, for a number of reasons. you know, not the least of which was the logistics issues that we suffer over the last several years. well just ended up with too much inventory. well bought too much in advance of our customers, and we ended up with too much inventory so we're in the process of making sure that we're working it down profitably we've got a great strategy that is working quite well, liquidating inventory, both through our retail stores or outlet stores globally through many of our customers and distributors around the world. we've got a good plan, but it's never good to have too much inventory. >> should we be worried that when we go to the website where you have incredibly high quality merchandise, and there it, 40%, 40% off, which makes me feel as someone that knows you are the quality merchant that perhaps things aren't as good as they used to be . >> well, i think they're as good as they used to be but we talked yesterday in our earnings call about the cost of carrying inventory

not so much the financial cost, but the logistics cost we cost them for warehousing, et cetera we want to just reduce that cost, get our sg & a more in line with areas that we can control. and we're going give retailers and consumers great prices so they can enjoy more product. >> well, at the same time, look. the u.s. is so important, and we know that. the rest of the world, tim, it's got to be -- it's just one of the greatest times to be working at columbia. go around the globe because the numbers are extraordinary. >> yeah, no, we've been very fortunate. i think we've been quite clear that some markets we've underperformed so as an example, china. historically, we've had a very rocky road there but we are the right team and the business there after the pandemic reduction of controls has been just exploded and chinese consumers are embracing the outdoors and want to go outside. our numbers there are frankly

very good. europe, similar. we've talked about underperforming in those markets, and there is areas there where we've really done well, especially in the uk and we're very excited about the teams that we have in place. and specifically those two markets. but in other markets where we have independent distributor, and that would include places like israel, turkey surprisingly, which has been an area where we've done very well, chile, markets around the world that have come back very nicely. and we're excited about the potential there. >> so what is coming back? what is attracting people's eyes because i often find that your place is filled with excitement. and i always like to see what's new. and for instance, uv products. got to have them now that's just the way it is. that's why i use them in the garden tell me what is selling well no matter what. >> well, the uv stuff. and, you know, as we all talk about the climate and the heating up of the planet, et cetera, it plays right into not

only are uv stuff, but our cooling technologies so those are doing very well for us, and will continue frankly as the planet warms up. but when it's cold, and people need to stay warm, and we have great products in the pipeline to follow up on our omni heat infinity, which is a terrific product, but we've got products that are based on mimicking nature so as an example, polar bear technology that we'll talk about maybe the next time we get together but these are areas where we can be really impactful, and be quite differentiating. which is one of the things we talk about in the company. how are we going to be different? why would somebody buy our products versus somebody else's. >> i notice a change at the helm in plrana i always felt you could be one of the key players in this area. is it in your tights for 2023-'24 to be king or queen of prana? >> i think it's queen.

but yeah, we've been very straight forward when we've underperformed somewhere, we talk about it and we fix it. so we have this new leader who is starting in the next few weeks, tricia. she has terrific experience at big brands like nike, audie and the gap, she knows how to build businesses and i'm convinced that brand is going to come back with her leadership so we're going to be very focused on making that a much bigger part of our portfolio. >> terrific, tim i know once you clean up the inventory, it's going to be really terrific because the stuff does look great. and feels great and works reat and it's the line i always treasure when it comes to columbia tim boyle, chairman and ceo of sportswear i love it when you're on the show thanks for coming on >> thanks, jim "mad money" is back after the break. coming up, beware the deep end. the charts bite back check into chart week when we

return

book a work trip. earn onekeycash. shake some hands. do not forget to laugh. [laughing] book a get-away-from-work trip. use onekeycash. order some sides. do not disturb. join one key to earn and use rewards across expedia, hotels.com, and vrbo.

how's the chicken? the prawns are delicious. oh, i have a shellfish allergy. one prawn. very good. did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we understand you, the better we can help you. that's what u.s. bank is for. huge relief. yeah... ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free

with a partner that always puts you first. start for free at godaddy.com every night we're talking to some of our favorite technicians to get our take. and tonight larry williams the legendary technician has been working on his craft for over six decades, writing more than a dozen books, creating a host of proprietary metrics that we all take for granted these days more importantly, he has incredible calls for us over the past few years practically the only one willing to predict a quick turnaround of the economy in april 2020. everybody else is panicking. and don't forget, this year he has been buoyant when others were expecting a hard landing. what does he have to say going forward? i can't believe you're in our set. larry, welcome to "mad money." >> jim, thank you very much. it's quite an experience

to be on "mad money. what can be better >> you made us so much money let's see what you have to say >> well, we have the s&p 500, and i think we're going pull back now we started today but we are coming up to a really, really good buying opportunity, because, jim, we're still in a bull market we're going rally up we have an 81% probability it's a real bias to the market starting around september 11th to rally up into the first part of november. a little bit of a pullback and then back to the upside. the purveyors of pessimism, they're going to be wrong again. >> so do i have to make a little exit here or just say hey, we're not going do that. >> be patient for a little bit pull back in here. and then get ready to buy again. >> perfect i like that. what's next? >> well, if we look at a the past years that have been the most similar to the pattern going back to 1924, there has

been a real similar pattern. it also calls for right here right now, a pullback on the market and then back up. so what we're seeing now, what we started today, not unusual. this is an expectation more of a time to be patient, don't get frightened it's not the end of the world. a pullback, and then higher. >> i like this very much finally, you watched the commitment of traders report get further confirmation for this market timing. what do you see with that right now? >> it's such an important indicat indicator. show what's the large trade verse been doing in the market. >> is this important to you? >> i was the first one to ever write about the commitment way back in 1970 where i learned about it from a member of the chicago board of trade. when they start to sell, the markets in the area of a high. and look what they've been doing. this rally, they were sellers on of course now we see the markets start to break this is typical of a market intermediate term pullback maybe a big pullback we don't know the size of it

but clearly a negative in the market another reason to -- >> be patient. i like the p that does not mean s now let's start with one you know i like. named my dog after it, nvidia, rallied a lot. doesn't mean it's perfect. >> you know this stock >> i think we're close to high in this market we may have a little more upthrust in here but pullback for the next couple months, then we'll look at going back up. but right here, right now, jim. >> i understand. i understand. >> be careful. the dog could bite you >> there is such a thing as greed, right big money bears big money. >> it is entitled to a pullback? of course it is. i think that's what we're going to see >> reporting just last night, spoke to the ceo this morning, lisa su, amd what are we thing? >> i use a lot of cycles and combine them into a wave there

is a wave, the red line, but pullback now, but a 90% probability of going higher. we've seen this wave nine times in the history of the stock. eight or nine times it has gone higher so i think this is a particular stock that can buck the market trend. will it buck the downtrend yes, it should rally >> i said that this very morning so i feel pretty good about that and oh, boy, the one that the whole world seems to regard as the stock market, tesla. >> yeah, tesla it's been a lackluster compared to the rest of the market. but, again, when i look at a cycle wave, and that's what i'm using software called timing solution we can pull out different waves and put them back together actually, we should be looking for a little bit of a bounce and then later about the october 6th, that's an important day, my birthday and then we'll rally again is it time to liquidate tesla? no

timed trading range? end to the upside. >> i want to speak philosophically for a second i happen to love the charts and i love your work one of the reasons, i like nonbiased simple historical information. your work is based on many things, but it's really history. and history has been very right when it comes to the stock market. >> we can learn from history all we have is charts to the past and we try to extrapolate data to get the future. how do we do that? some people use trend lines or oscillators or whatever. i found the most effective way is to pull the cycles out because i want to know the future i don't want to know where the market has been. i want to go where it's going. people read the wave on the back of a ship. i want to know what the pilot is going to do. and i think the cycles are the driving pilot of the marketplace. >> because i know people are going to be very concerned when you talk about patience. what you say when you see something like today, you are making a point, that we are in a bull market. and in a bull market, you don't

flit in and out. you just wait for better opportunities to buy more stock. >> i think in a bull market, intermediate term will sell rallies. long-term trade will hold on short-term traders will lose their money because they're day trading. but to intermediate traders, yeah, i'm getting ready for a buy point to again get a substantial position in the marketplace. we're in a bull market we're going higher until maybe the middle of 2025 until then, i'm not always the bull, jim. >> i know that. >> i could become very bearish >> i really want to thank you. it's an absolutely terrific. i want to point out to everybody here that the reason why i feel so good about it, let me just bring in automation. this is the kind of thing that that here is a company you don't necessarily know what they do, right but that doesn't matter, correct? >> correct >> so show me where you think this one can go. >> well, this is a pattern, the

road map the stock has been on and a dip about now, we start to see a dip. but coming up about the middle of august, the latter part of august, we start back again. i expect new highs in the market and 85% probability of a rally at that time. >> okay. because we did have the company on last night. they missed the quarter. and i thought it represented a great opportunity. any way, i enjoy your work so much and i have to tell you, this is the way it works i will email larry, and i'll say larry, i don't know what to do what are you thinking? larry is always gracious, comes back but also, you fish, you run, you do so many things. there are so many facets it's a delight one day we'll it is down and talk about the store that is >> i look forward to that. >> back after this coming up, what's behind door number one? the dash is on for delicious returns. don't forget to tip your dasher, next

become an aunty. book a flight. stay 4 nights. meet the baby. make the baby cry. give the baby back. fly home. silver tier in a single trip. join one key and move up tiers fast. my banking relationship was getting... well, complicated. so, i broke up with my messy accounts and moved my money to sofi. get up to 4.40% apy, and up to $2m in fdic insurance. sofi get your money right.

- i got the cabin for three days. it's gonna be sweet! get up to 4.40% apy, and up to $2m in fdic insurance. what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do their own payroll so you can fix problems before they become problems. - hmm! get paycom and make the unnecessary, unnecessary. - see you down the line. ♪ (upbeat music) ♪ ( ♪♪ ) woah. ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ )

constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall.

starting to see in tech. tremendous runs this group has had year to date but it's a little puzzling to see it now that so many tech companies have really reported super earnings take doordash who pulled back. tonight doordash reported an excellent set of numbers that shows the company can keep driving impressive growth even as it quickly becomes more profitable they gave us much better than expected guidance, raised their full-year forecast, setting the stock up for after hours deserving. great numbers. but don't take it from me. let's check in with tony xu, the co-founder and chairman of

doordash mr. xu, welcome back to "mad money. >> hey, jim. it's good to see you again >> i have to tell you, i think there are people that say once things open up, watch how badly doordash will do no, it's the opposite. doordash is an addiction we all love it it looks like the latter view, my view is correct when i see these numbers. >> yeah, certainly the numbers i think speak for themselves we've had eight straight quarter news and actually ever since the pandemic lifted and people got back inside stores, eight straight quarters of 25% plus growth on the gov line 30% plus on the revenue line and we continue to increase our profitability as well throughout the period i think the buyers would agree with your assessment >> one of the things you taught me, look, i got to spend a lot of money i was more cherry. i don't know in order to win, i've got spend the money. but once it's the right time we can pivot and begin to make a

lot of money you are pivoting it's not hurting your top line at all but it's very clear your bottom line is coming through >> yeah, well, it certainly is an inflection year, right? you see the revenue is growing in the 30% plus very healthy range consistently and the bottom line, though, growing almost three times year on year. so there certainly is the disproportional growth on the bottom line versus the top line. i wouldn't call it a pivot really to us, this is natural growth we are still on offense. we're still in investment mode we want to build the biggest size business for the long run what's happening is you're seeing improving economics in the core u.s. restaurants business, improving economics in our investment areas, whether that's growth internationally, growth in new categories like grocery, convenience, and very healthy discipline on four quarters in a row even though revenue has grown 25 to 30% during that time period. all of these things are what is contributing to the growth but it's very healthy, natural top and bottom line execution.

>> do you think there is a level where pricing is going to matter people are starting to think about their bills and say wow, i didn't know i was spending that much money on delivery, or do you think they recognize the value of delivery and don't feel compromised by how much they're paying >> well, i think pricing has always mattered. and it's always been offering the best combination of the selection of the stores we deliver from, now over 500,000 on the marketplace, restaurants, grocer, retailers, et cetera as well as the affordability of our program and the quality of the service. and so i don't think we're ever judged on one of these things. even though pricing has always mattered, to me it always mattered as is selection and customer service i think that what customers are seeing is while they're using our service more, especially those who are dash past subscribers, they're actually saving more as they increase their usage. >> also i am proud of you in

that you're still at the very top first paragraph talk how much the dashers are making. i think i would be remiss to ask you how much, because it's really rather astonishing. >> dashers have consistently increased their earnings on the platform we just turned ten years old this summer. dashers now are earning 25 an hour nationwide when they're delivering and that's -- when i think about this in aggregate, it's kind of stung. we've had over 13 million dashers on the platform since we launched the business in 2013 that have earned a collective over $35 billion and this is while doing the work on average less than four hours a week i think we're very proud of the fact that this is a service that we're designing to work for all audiences. obviously it's got to work for consumers. it's got to increase sales generate over $100 billion for merchants, but also has to work for the dashers, and i'm pleased that it does

>> after covid, i know you gave such great breaks to places that stayed open, people reward you did the companies reward you that got through because of doordash >> well, we didn't do it to get rewarded we did it because it was the right thing. we cut our commissions by 50%. that cost us over $100 million while doing that and for us, that was the time in which the company wasn't yet producing profits like we are today. to me, it was just the right decision and we've always been building doordash to invest in the long run, to grow and empower these local businesses so sure it may have cost us in the short return a quarter or two of cash. but to me it was absolutely the right decision and i think that those relationships have continued to blossom. we continue to be the selection leader we continue the gain share in the restaurant business in all these new categories as well as internationally. i think it is paying off but that wasn't the reason why we did it. >> understood. very fair. that's a better way to put it than i did now stock-based compensation

i've not asked you about this before it still seems rather large to me hurts profitability? >> absolutely would take stock-based comp into perspective. for us, for shareholders, you've been building this business for day one to optimize for long-term, free cash flow per share. obviously needs the take into account stock-based compensation for us, when i think about how all these things are coming together in terms of the business is firing all cylinders in terms of its growth, its improving unit economics, and i look at the op ex in terms of how disciplined we've been, four quarters in a row, i think all of these things are coming together in order to take into account all types of composition stock base composition included. >> a large pizza chain, if pizza chains came to you or other

chains came and said we want to list your app but also do our own deliveries, are you receiptive >> it's something we do today. we actually do with tens of thousands of merchants whether it's restaurants or pizza shops or retailers who actually sometimes prefer to do the deliveries themselves. that's true in the united states that's true in the 28 countries that we operate the platform in. to us, doordash has always been about building the greatest number of products so that we can help you grow, whether that's to bring you incremental sales or to help empower you to do it on your own. sometimes that's offering the fleet of millions of dashers we have to you. sometimes that t software alone. by giving merchants the maximal choice, that's why we've been best positioned and become the largest local delivery service outside of china. >> i have to congratulate you. from the very beginning, you had great ambitions. very humble roots and you never forgot them. that's one of the reasons it's

such a joy to interview you. tone xu, co-founder of doordash, it's always fun to talk to you. >> thanks, jim >> "mad money" back after this coming up, cramer wants to hear from you. your calls on the thunderous "lightning round," next.

"lightning round" is sponsored by td ameritrade >> 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? the "lightning round." i want to start with walter in

virginia, walter >> caller: >> hey, jim. love cramerica in 2024, we're going talk about incredible disrupter, but for 2023, talk about inovix. is the battery going to charge me up or not >> i'm not recommending the battery plays unless they're making money as much as i think it's terrific you're fired up about this one, i'm going have to say [ buzzer ] >> eddie in arizona? >> caller: boo-yah from first time-long time in phoenix. good thanks to you and your crew for helping us how to make our money work for us. they pulled off so hard. their deep score is below 3. $20 billion declined in market cap that day seems pretty expensive compared to initial repair cost efforts at 500 million. >> true. >> caller: analysts expect 15% of earnings growth in, 18 in 25. so cheap on the outyear. >> right >> caller: a bunch of contracts,

the market cap so jimmy chill, should i go by eddy money buying ticker symbol rtx? no. it is in the cool pen, and i do like it and did a good job, but this stock has to meander a little bit. we'll probably look at 80 to 83 if we can get it there, probably will pull the trigger. thank you for that incredible s sill question. >> boo-yah, jim. shout out to my fiancee danielle can't wait to marry you. >> danielle, you're a very lucky woman. >> caller: i mention total line, recently bought, i got to delicious! yes. >> my wife will be so happy. what's up? >> caller: my question is about a company with a huge massive short position however, tons of new partnerships and the clean energy hype on their side. we've got earnings in a week, plug power

>> if it bounces, i want you to sell, because i've got to tell you, that company has disappointed for so long go by wendy. the windy that's the one you want. lin. mike until ohio, michael >> caller: hi, jim thanks for taking my call. i admire your energy and knowledge. >> thank you >> caller: but this is my question after a good earnings report, i was sitting out a profit on live nation, lyb. then this resumer of the antitrust action possibly came up even though i read they're already working on a consent decree which will make it unlikely should i hold or sell? >> i think you should hold it. look, i think that they are in great shape, and the government these days doesn't seem to want companies that are doing in that great shape. the company is worth a tremendous amount of money i don't want you to get rid of it go to chuck in georgia, chuck? >> caller: hey, jimbo.

big boo-yah from the acl, host of the best team in baseball >> i haven't thought of that but jimmy chill agrees what's going on? >> caller: i called you a fuel months ago and told you i was bullish on big data companies. plocars on the weekend when i drove past i'm going less than 15, over 137% in three months today the stock is up 30%. based on stone cooler guidance based on data center infrastructures, for kbuting driven by ai what are your thoughts on david cote. >> david cote decided to buy honeywell and he turned it around hvac powerful, powerful power transfer company that i think even though it spiked huge

today, i don't want you to sell it because i think there is more to be made and that, ladies and gentlemen, is the conclusion of the "lightning round"! [ buzzer ] >> the "lightning round" is sponsored by td ameritrade coming up, the cat's out of the bag. cramer activates the heavy machinery, next. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support.

that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. ♪♪ at morgan stanley, old school hard work meets bold new thinking. ♪♪ partnering to unlock new ideas, to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley.

despite concerns of a global economic slowdown, those are the six words i've seen the most during this earnings season. they're being used todescribe how american industrial companies keep delivering incredible earnings, in spite of what all the top-down macro strategists predicted. implying that the with these unbelievable quarters we've seen and you know what? they're six words that wouldn't need to be uttered if people would simply listen to what actual ceos are saying, rather than merely looking at the bond market, listening to the macro commentary and assuming they know more than the people who

run these great businesses consider the case of cramer fave caterpillar all day today we've been hearing caterpillar defied concern of an economic slowdown. it rallied 8% yesterday. $23 to an all-time high. what was defied? when company after company defies global economic slowdown, maybe those concerns weren't very serious in the first place, at least when it comes to the corporations we're talking about. from nonresidential, mining to oil and gas infrastructure, even data center construction there is no secret to that each one of these markets is doing incredibly well. sure you the oil and gas markets are down slightly year-over-year, but infrastructure is up year-over-year dramatically and only getting stronger. sure, we hear data center may be slowing down, then we wonder if that can even be a possibility if we believe in the ingrowth uses for artificial intelligence and we know the company hundreds

of billions of dollars related to sun, clean energy and upgrading the power grid these and not simple earth moving but the bedrock spectacular businesses these days so i say there was no defiance concerns, because there were no legitimate concerns for this new spectacular in the first place none of those end markets were turmoil. if you really want irony, the only place caterpillar didn't defy the global economic slowdown was china, where business is really bad but ceo has bent over backward to make it a less cyclical company and he saw the weakness coming it didn't impact the bottom line it represents less than 5% of the company sales. and it's not like kpla is an isolated event when eaton it too defied concerns what's going on? there is no -- electrical

equipment, grounding of wire, putting in new electric grid, manufacturing parts for aerospace, called the electrification of everything. and there is no defying that trend. i have railed endlessly about how the top-down strategists from the journalist acolytes should hang their heads in shame given how little they really know what happens in this economy. and warning of a recession does not come or knocking companies that have long since changed their mos. this new crops finds part oft the economy that wouldn't be hobbled and doubled down that way they wouldn't have to defy economic downturns. because they would be in markets that had growth no matter what so no, kat didn't defy concerns of a global economic slowdown. that's a false said line jim ogilvie decided to steer a course that simply aren't slowing down and that, not magical slight of

hand, gave shareholders a huge gain yesterday they weren't shaken out by the industrial bear complex that is so good at keeping you from making money i like to say there is always a bull market somewhere. i programs tied try to find it just for you right here on "mad money. i'm jim cramer lazard frer last call starts now. i'm contessa brewer in for brian sullivan tonight jamie dimon sounding off of fitch. >> it doesn't really matter that much you know, the markets decide it's not the ray names that make the big decisions. >> that's just the start of what we heard under the hood what has day traders day selling robin shareholder shares right now? move over, a new potential phase has captivated some tech investors. well, we've seen it with soccer and baseball and now apple is reportedly looking to add college football to its