>> steve's going to go home, how happy is his wife going to be? >> thrilled. >> wasn't that a beautiful jacket? >> especially for fall. >> alibaba is autumn nall, as well. >> thank you for watching "fast money." don't go anywhere. "madon" thimrar meywi j cme starts right now. "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 isn't just to entertain but to educate and teach you, so call me at 1-800-743-cnbc. or tweet me @jimcramer. the bears want to have their cheesecake and eat it too but the facts won't let them. i'm talking about how hedge

funds and the pessimistic strategies want things to go horribly. and they've been having their way for weeks. now the situation looks different. dow gaining another 135 points today, s&p climbing 0.25% and nasdaq jumping also. hard to fathom how the bears can gain credence. hard to take them seriously in this kind of tape. today's typical. we know there's been widespread concern that cheesecake factory will be crossed off by the diabetes weight loss drugs, ozempic and its twin wegovy and m mounjaro. wall street, i'm sorry, walmart sounded the alarm to wall street saying their volumes are soft and some could be drug related and could be maybe, i don't

know, 15 million taking these weight loss drugs. people from jufk food will then mean nothing because this medication eliminates craving, nor does alcohol mean that much though. you still get a buzz but only if you force it down your throat. the walmart call scared the heck out of buying leading to a collapse in a group once considered the ultimate safe haven. almost felt like the threat which is not something food companies have had to deal with and might not have been so palpable if it wasn't for the worst decline in bond prices in my lifetime in a short period of time. interest rates shot up at a pace so fast it was actually your head was spinning. when i was doing the signing at a terrific shoprite in new jersey a club member said, jim, you just don't talk enough about the bonds so, you know what, let's go there. as long as interest rates are going higher, it is very difficult for the stock market to rally. why? first because every stock will be rated against what's known as

the benchmark ten-year treasury. you don't want to stop with a 3% yield if the ten-year is giving you 4.65% with no risk as long as you hold it to maturity. as buying yields go higher they become more attractive versus stocks. no, you won't make us much money in bonds if stocks go higher, which is why i like stocks but that leads us to the second problem caused by riding interest rates. the odds start to favor the majority of stocks going lower. >> sell, sell, sell. >> because higher rates are a symptom of things going awry. too much inflation and demand for money. just too hot an economy where the fed wants to cool everything down. so bonds aren't just worthy opponents but they tell us about the state of the economy itself. the bond market sometimes gets it wrong and predicted a

recession last year but still powerful and everybody around here will follow. now, let's consider a third element. in this case we had a breathtaking move where long-term bonds collapsed in price. the velocity of this decline is what took everybody by surprise. bonds tend to move at a glacial pace. this was an avalanche of selling. we don't want rapid moves in bonds particularly by the banks. the interest rate, the direction, the speed of the rise in bond yields and collapse in bond prices is what define the end of september. but for the food and beverage companies it was a one-two punch. the second being that walmart inspired wave of fear coming from these new weight loss drugs. today it all reversed and had the atlanta fed president saying the current policy or interest rate is enough to get inflation down to 2% and higher rates aren't necessary, 2% being the target rate. that comes on the heels of

yesterday's dovish comments by philip jefferson the vice chair of the fed's board of governors who suggested a pause in rate hikes. yesterday the bond market was closed, columbus day, so it didn't have the ability to digest jefferson's comments. today bond traders had to factor in comments by both fed officials and sent prices screaming higher to the point where some wondered if they missed out on a peak in treasury yields. they were able to imagine a world where rates could go lower and some whispered about a peak in rates. meanwhile, pepsico, one of the worst hit packaged food companies saw its stock fly up after they reported a good quarter and threw water on the weight loss drug thesis. if anything there's been an acceleration in purchasing to the point where they felt comfortable to raise the forecast for next year, something they never do. i think that was a sign, a palpable sign that pepsi had had enough of the bogus bearish

narrative and wanted to take control of its own destiny. you had rates go down, you had some concrete evidence that pepsico has little reason to fear the weight loss drugs. it's been pepsi through 55 quarters of forecasting and never missed. that's the kind of track record that makes the short sellers think twice before pressing bets with wegovy. now, what's the truth? it's way too early to access the impact, mounjaro hasn't been approved for weight loss yet and that includes whether it's going to hurt dexcom down 25% or c conagra or coca-cola down 15%. with the exception of conagra they're too expensive. jeff marks and i in preparation for arbery call tomorrow, will you please join the club. it will be great, kicked the idea around of buying procter & gamble stock. that's not down as much as the

food and beverages but still up 4% for the year with.6% yield and they raised the dividend every year. they have. but what we think it's been tarred by the same broad brush as the food and drug business even though, you know, i like the taste of toothpaste but i'm not eating it. this is a rich stock too but i think it's the right thing to buy. i saw a survey and many might of health care that offers these drugs. if it turns out there's broad acceptance of these drugs in a short period of time that no one is expecting i think the earnings estimates have to come down for the food and beverage stocks because people will eat and drink less. it's a volume issue, okay, because they won't crave and are a lot less hungry, volumes go down. remember, it's one thing for interest rates to go higher and quash these stocks. it's another to put your stock portfolio at risk of an earnings miss, especially when the stock is more expensive than the rest

of the market. yes, walmart's seeing a slight slowdown. no reason to doubt them but pepsico is doing fine. bottom line, i don't know how the weight loss drug situation will play out but i do know bonds are making a stand which is a good reason to lock in both the ten-year and maybe even grab shares of pepsico before they both move too high to be worth grabbing. we're taking calls. going to hunter in south carolina. hunter. >> caller: hey, jim. first off i want to thank you for having me on the show. >> sure. thank you. >> caller: i wanted to see what you thought about amc. i bought it around $8 and i got to be honest with you, jim, i like the stock and i wanted to know if you thought this kitty was going to keep roaring. >> amc is a controversial stock. it's been a real loser. i'm looking at the chart. that's not like -- i'm looking

at the chart. hey, listen, it's no mona lisa, but i will say this, the ceo is an imaginative guy and got a couple movies going. but when it comes to any move up -- >> sell, sell, sell. >> how about rick in virginia. rick. >> caller: hey, jim, thanks for everything you do for us. >> thank you for being on the show, rick. what's going on? >> caller: got a question on amd, buy, sell or hold. >> it's a buy for the travel trust. i was hoping that we would add some in time for our big meeting tomorrow at noon. we did not get the stock in. it's now gone up seven points and starting to feel maybe we missed our good window there but i like amd. i think there is a good reason to lock in both the ten-year and shares of pepsico and actually more than the ten-year before they go too high. the used car is in demand but where does carmax fit?

i'll get the latest from the ceo in a rare interview. then yesterday we covered stocks that had strong financial positions to handle the environment. hey, how about we pick a couple losers and tell you how dangerous they could be. [ baby crying sounds ] a shark is swimming in the new york stock exchange. don't miss my exclusive with daymond john to hear more about the work being done for a cause that i celebrate called black entrepreneurs day, so stay with cramer. >> announcer: 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. miss something, head to madmoney.cnbc.com.

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all right, we got a treat for you tonight. what do you make of the used car market that interest rates have soared? uaw strike and a couple weeks ago we got results from carmax, the big chain of used car dealerships and revenue came in weaker than expected although the earnings were basically in line thanks to improved expense management plus the cadence of the quarter was not bad. in response the stock got pulp pulverized down 13%. so can they triumph over what feels like a tough environment? straight to the source with bill nash, the ceo of carmax here at the new york stock exchange. 30th anniversary. i remember when they rang the bell to start all this. they rang the closing bell tonight.

bill, welcome to "mad money." >> thanks for having us and certainly a day of celebration. >> oh, yes. congratulations. >> well, thank you. a lot has changed in the last 30 years. >> i remember when you first started people said maybe they won't make it. >> i have framed articles in my office that says car crash. >> tell people how many billions of dollars a quarter you do. >> we're up there now. multiple billions of dollars. >> you're not going anywhere other than i think let's just cover that last quarter. i thought the decline was you can correct me, given the fact that the cadence was better and june and july were the worst and august started to get better, i thought the decline was severe. i'm a stock guy, you're a car guy. that did seem to be wrong to me. there's a lot of macro factors. the first and foremost is the affordability issue. used car prices are elevated from post covid when there was a shortage of new cars. compound on top of that higher interest rates going up, plus just the inflationary pressures that consumers are facing on

other things they buy every day so there's no doubt there's an affordability issue. that being said to your point we feel good about the sequential progress that we're making. we feel great about the cost control we've been going after as well and our big task is make sure we have plenty of inventory, the consumers want, at an affordable price while making sure we get them connected with the right lender to give them the best payment. >> right, now, that's something that's important because the rates for car loans, we've seen them go up substantially so has to hurt people buying a recent model as opposed to say, six, seven, eight years which might help them. >> you know, whether you're buying a newer or older model interest rates are up. absolutely up and so it's impacting top credit customers but also really impacting, you know, lower credit customers. >> even though they're much less in price. >> even the older cars still cost more than they did. >> yeah, absolutely. now, i don't know the number of

variables you have. now you have electric. we have a fed that is justbent on taking longer, higher, but you have a uaw strike. how do you manage inventory? >> it's a great question and as far as the uaw strike it's a little early to tell the impact it will have on the business and how long it goes and if there's going to be an expansion. we certainly are monitoring the impact, not only on inventory but parts, because of obviously -- we have to build cars to bring them up to the carmax standard so that's absolutely something we're going to be continuing to monitor, but at this point, it hasn't really played into the overall industry. >> now, you did see some better numbers at the end of the quarter so what happened in june and july that was so horrible versus august? >> well, i think what you saw june and july you saw some depreciation happen. >> that's what it was. >> i would call it more robust depreciation. >> you said absolutely steep on the call. >> yeah, so if i looked at may,

june and july, it was $3,000. you don't see that amount in such a short period and that has a lot of pressure. the good thing when you see depreciation like that, it starts to bring the cost of cars down so while it's tough in the short term for the industry it's good, i think, overall because, again, you want prices to continue to come down. >> what kind of digitization you have to factor this in and plus one in september after being down a couple months before. it's every day the value of your lot changes. >> yes, you have to be nimble. you have to be nimble, and, you know, i go back 30 years ago leveraging technology back 30 years ago, fast forward today, your data, technology, a.i., machine learning, deep machine learning, it all plays a critical role in improving not only our associates' experience but customers' experience and how we stay on top of what is this car worth? >> a lot feel this will wipe out jobs. i think it makes more jobs. >> no, i view it a little

differently and, you know, we've been leveraged even generative a.i. more recently and the way i see it, it can be an associate engagement tool. it can take away some of the mundane tasks associates do and let them do the value add. now, will a.i. help you not increase your staffing over time as the business grows? possibly. but i don't see it, at least not at carmax as a job removal. >> so explain the interaction between online sales and a.i.? >> so, well, anything online, so i mean 10 out of 10 of our customers started carmax.com so a.i. plays a critical role, but it's not just that, you have to have great data for the a.i. to work, so a.i. can customize every push of a button that a consumer does online. we can tailor the response back and say this customer has done steps one, two, and three but they needto see four and serve them four so the way i think about it, it personalizes the

experience for the consumer. >> you obviously, yourself, know this stuff. some ceos have someone in their organization that does it for you. it sounds like you're hands-on when it comes to generative. >> yeah, well, it's mportant. it's important to our organization, like i said, back in 1993 and this might sound a little silly now but back in 1993, you'd walk into a carmax store and see touch screens and you could print out a location of your vehicle, a vehicle detail page. you didn't see that back in 1993. fast forward to today we just continue that technology push and, again, i think it's such an enabler not only for associates but the customer experience and will differentiate the winner at the end of the day. >> you also talked about a buyback which i thought gave confidence but i wasn't sure how much your kind of loading in here. it seems like your stock should be bought. >> yeah, well, we. >> eva: paused the buyback about a year ago. we just felt like what we've been telling folk, we want to

see sustainable improvement, and we've seen some as i talked about. we've soon consecutive growth across a lot of metrics but wanted to say, look, we won't go back in right away to what we were before because of the macro factors. you pointed out a couple earlier. you want to make sure you understand that before you go back in. we'll start at a lower amount and then we'll see how it goes. >> how can you tell how much inventory is really out there right now, ford, i mean, when i speak to jim farley it's not clear how many broncos are out there. how do you have intel? >> we have professional buyers that i would say are the best trained. >> tell people where those buyers get their cars. >> so we have a group of great individuals that work for us, professional buyers, best in the industry, they're on the ground. they're talking to other dealers, they're at the auctions. and then in addition to that, we also buy the majority of the cars that we sell directly from consumers. >> right. >> i think the key point there

is when we buy a car from a consumer that doesn't fit our retail parameters we wholesale it at our auction and have realtime data every single, really three days out of five days a week we're getting new data as it relates to the cars we're buying and reselling to other dealers. >> you have an impressive company and knew to digitize when you started but what you have now, i don't think people realize how close you are to the actual situation. you're not going to end up with 100,000 more cars than you need. >> no, no. you definitely don't want to end up with 100,000 cars more than you need during a highly depreciating time. >> bill nash from carmax. the closing bell, 30 years and many people doubted this company from the day it was started. that was a big mistake. "mad money" is back after the break. >> announcer: coming up, what stocks have the greenbacks to thrive in a high rate world? cramer's focus on cash continues

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♪ like i told you last night the rapid rise in interest rates has changed the calculus of this market. it's no longer safe to own stocks of companies that rely on financing because borrowing money has gotten more expensive. in this environment where the fed intends to leave short rates higher for longer, i know you've heard that, you want companies that have loads of cash and don't need to raise money, which is what we focused on yesterday. tonight, though, a little darker. we want to talk about the higher prolonged loser, the utilities need to borrow to keep existing machinery running let alone build anything new. that's why they've been hammered. the utilities collapsed after the september 20th fed meeting. the utes are the worst

performing sector for 2023 with the best proxy the utilities select sector spyder etf, a mouthful. down nearly 17% year to date. most are dividend stocks and yields are less attractive in a world where you can get 5% from two-year treasuries. my gut instinct, it might be too late to sell uties now. higher rates for longer will hurt the earnings but i've got to wonder if that's baked into the stock prices down here. of course, i can't get bullish on utilities until rates peak but let's stay on the sidelines. who else loses? any industry with high capital spending commitments that need regular financing. would comes to mind, how about the wireless carrier, at&t and verizon. now both down 19% for the year. you're supposed to be safe. even before rates spiked it was clear they had a bad business and didn't spend fortunes to build out networks but they have

very little pricing power. between t-moment and the cable companies, they've got into wireless and the budget phone carriers are being eaten alive. they're basically giving away the iphones to win customers. only winner is apple and higher rates make everything worse and at&t is guiding from 19.42 billion in capital expend expenditures. for the billions they need to spend on the dividends and not much left for anything else like buybacks. high chance that at&t and verizon may and i don't think they'll agree with me have to cut their payouts. i'm looking at numbers and whenever you see a stock with a 7.4% yield it is a giant red flag and money managers don't believe in the dividend. these are bad and probably getting worse. that's one. let's talk about rivian, wild week in october and things

started off positive with them getting better than expected results but last thursday they had their worst single day decline since becoming public nearly two years ago falling nearly 23% in a single session. why? because on wednesday night rivian announced it is going to offer $1.5 billion worth of green convertible notes due seven years from now because they need to raise money to build more factories now. that might seem extreme because they ended up getting a good rate, 3.65%. what gives? the rate is low because this is a convertible bond. i have to spend more time talking about them. meaning under certain circumstances the bond holders can turn them into stocks including all the other shareholders in the process. shareholders hate being deluded so a lot sold. rivian shows us even creating financing solutions can be poorly received so you're taking your life in your hands if you invest in a company that can't fund its own spending internally which is why i talk to you about

how i deon't want to recommend stocks that lose money. ever since the nasdaq peaked nearly two years ago i said over and over again that money managers don't care about pure revenue growth. now, we're seeing yet another reason why the pivot to profitable parties because in a high interest rate environment the companies that don't need cash, the companies that need cash gets dried by the customers. that was terrific's group. look at this. up, up and then boom. i wouldn't own this. i just wouldn't own it. easy money from venture capitalists. if a company has negative cash flow and will have to plug the hole somehow, where do they get the money? either they can borrow and pay a higher interest rate or they can sell additional stocks making existing shares less valuable. dilution. finally, one more group of big losers from rates straying

higher and companies where external funding mechanisms are part of the business model. you see this in many of the financial technology companies, upstart which is an online lending marketplace and both offer credit but rather than holding loans on the balance sheet they bundle them up, sell them to institutional investors in the form of asset-backed securities, abs it's called. the process worked great until the fed started tightening and institutional buyers started to be more hesitant about touching these pieces of paper. even if they continue to buy them they want to be compensated with higher yields. they need to start charging customers higher rates which makes their service less attractive so these aren't companies that are borrowing themselves but they're still dependent on financing markets and hurt by a longer interest environment. i don't want to lump this in. if you look at sofi technologies, one of the rare fintech places, it's because sofi takes deposits like an actual bank.

in fact, deposit rate group staggered by 73% and like any other bank they use those to lend money to other people and do it at a lower interest rates than those that rely on the market to raise capital. when the asset-backed market dried up for the other nouveau lenders, some said, fine, we'll fund them with the deposits. if the market gets better, i mean, get a good price for the sale of our loan, we'll do it. if it doesn't, well, we'll just hold our loans to maturity, that's why sofi is doing better than the others and why i continued to like it and recommend it to you. but the bottom line, when you think about what's worth owning here, you need to factor in the fact that we're in a higher for longer interest rate environment and in this world the stocks of companies that need to borrow money becaome more risky. something you need to keep in mind until the fed relents which could potentially take higher for longer, years. greg in tennessee, greg.

>> caller: good day, mr. cramer. >> hey, greg. how are you? >> caller: if i was any better, i'd be twins. >> whew, i like that. digital twins. what's up? >> caller: well, i tell you, utilities have taken a beating here lately and i'm thinking it might be a buying opportunity. do you think this is a good time to add to my southern company? >> okay, i would tell you that while i like southern, the actual p./e. multiple is too high. it's more expensive than i like and the utilities' index, you can get better than a 4.2% yield. let's hold off on that. i don't think it's a good situation. i just don't think it's the best. i do like them for what they've gotten through with nuclear but i don't want to recommend the stock. now i want to go to pat in new york. pat. >> caller: how's it going? >> how are you doing? >> caller: pretty good now that i'm on the show today. >> fantastic. >> caller: i did have a question

for you. so, i'm about equally invested in both ford and tesla and currently with what i bought it for and where it's at i'm about break even only up a couple dollars with both and with everything going on, we have the uaw strike going on with ford, tesla's cutting prices by about 3%, i wanted to hear what your thoughts are. >> neither one of these reflects future value. i think tesla's future value is excellent and i think you're buying into elon musk, who is a genius and ford will go much higher when the strike ends and will be a little more hybrid and a little less ev which i actually like. okay, as a shareholder because my charitable trust owns some. you need to keep in mind companies -- the stocks of companies that need to borrow money have become a heck of a lot more risky, even verizon, even at&t. all right, much more "mad money"

and back with daymond john. black run businesses were some of the hardest hit during the pandemic and he is on a mission to change that, yes. i'm hearing more about this year's annual black entrepreneurs day and all the work that the shark himself is doing to raise awareness and i love the guy. then yesterday miles in florida called with a question about u.s. bancorp so tonight i'm updating my thesis on that giving more color and others in the financial cohort to help you wrap your head around this tape and all your call, rapid-fire, in tonight's edition of "the ling round," so stay with cramer.

you know we love celebrating entrepreneurs on this show, particularly those who continue to support groups and business owners who have been historically marginalized in our economy. gets you and me angry. daymond john has been on top of this from the get-go and know him of the founder of fubu and one of the sharks on "shark tank." he found black entrepreneurs day three years ago, a celebration of black business owners held annually at the apollo theatre and this year's event at the apollo has big names. whoopi goldberg, shaq and it's a great cause. that's why we're thrilled to they can in with him and, by the way, welcome back to "mad money." >> thank you for having me as always. >> i want to know about this. i find that there is a need for funding for black entrepreneurs because our country while we try

to strive for equality has not been equal. >> right. you know, i think that the more important point for us to think about is it is about culture and it is about whether it is my sponsors, whether it's what i'm doing. i'm really busy, right? >> and when i saw the world melting like everybody else, i didn't look at everybody else and say need to do something. kids were burning businesses instead of building them so culturally i said i need to do something and called up all of my top guys and girls and said hey, can you highlight what i'm doing, chase, the general, i hear all these initiatives you have, will you be on the billboard next to me so the people in your company and the world say you stand for what's right and they said absolutely and they're still here, however, many have left this cause because it's not the cause of today, and it's unfortunate but you know what, i'm not saying it's only this, there's a big world, lgbtq, there's something

else going on in the world, veterans, a lot of things, but when you want culture your employees are looking at you and so is the world. nike kneeled when they needed to and stood when they needed to so that's why there is a dedication to the brand. >> tell us about the event and how we can help. >> here's how you can help. the event, i forget. my sponsors, i have to acknowledge shopify, chase and the general and the people who came back in, t-mobile, loews and salesforce and new companies that said, hey, i still want to donate more of these $25,000 grants and gave away 700,000 and hit about a million dollars this year, 8 billion views, 1-4 webbies and aired on november 1st live from the apollo theatre. you can see it at blackentrepreneurs.com and on facebook, meta and all those other places. we will highlight the

superstars, but they're going to talk about their failures like when shaq didn't know what fico was when he first got a check and we will give away free money, not kevin o'leary, we don't want a royalty, $25,000 to i think eight or ten different companies. >> you mentioned it. how about success stories. we love success stories. >> young lady came on, harlem chocolate factory. she was struggling during the pandemic. now she's opening in jfk airport, why? because she got the needed money but other wanted to support her and the people at jfk said, i want a minority company. >> good, because they've got a lot of the ritzy businesses there and a lot of us when we hear the names and say, oh, you know what, i feel better going to mcdonald's than the other guy. jpmorgan, i like themed more. that's okay with you. >> it's not sexy to talk about how they're helping somebody but

sexy to talk about when somebody is doing bad. how do i have a unique voice in some of these communities? you know what, have somebody a representative of here and these other communities so it's an authentic voice and take affordable steps and you don't throw campaigns out because, yeah, it can come back to you in the wrong way and love the fact that they're not only supporting them this way but had resources in their system prior to george floyd. t-mobile says you wear magenta edge and here is how to get all these resources, chase, here's how you do it, lowe's, here's how you do it. >> great people. look. >> marvin is great. >> jamie dimon has opened branches in neighborhoods that needed them and you've always helped us in trying to figure out who is building the community itself. apple has 15 -- someone says it runs hot. what is your feeling? you kept us in throughout. we really got the trade from

you. >> you know why, apple, i like to say apple creates a universe and when you're going into the universe, i've been to the mall lately and it's something that i don't necessarily recommend anybody go but when i walked in there, what did i see? i saw people in there looking at apple but looking more on their peloton version of apple. that community. then i saw people over here who were the arty people and streaming and wantto check their -- the movement and body action and people with the new devices. >> whoa. >> new glasses coming -- these new apple vision is going to change the game. >> you believe it. i believe it. now people keep saying it's too heavy but you've had it on. you know this is like nothing you've ever seen. >> the reason you have to buy new geiss, i have looked under the hood of all these companies. let me tell you something, the reason for new devices and i get to see everything is because people will crack the 13 and the 12 and 11. they'll crack those codes so from a security standpoint, they can't catch up, right, because

it's just been issued. if you look at all this changing a.i., what's going to happen? your device needs to be caught up with what's happening today. >> hackers are everywhere. one last thing, tomorrow a fabled company rings a bell, ipo, birkenstock. >> i heard that and got upset. i know david. now david sent me some. >> how much did he send you? >> he sent me birkenstock shoes. it's an ipo. >> well, i'll tell you -- do the shoes -- this is a fabled long-term company. >> i wonder why the shoes are so -- so many people love it. i walked around and you know what, they have technology in them. they have things that -- i have arches that that are falling and massages my feet. you know what, when i got those shoes, i haven't taken them off. my wife and daughter, this is the only day in the house, this is the only time in the house where daddy/daughter wears the same exact stuff. i can't wear a lot of minnie

mouse stuff but i can wear birkenstock's and it's the most comfortable. >> i'm putting them on tomorrow when it becomes public. be all, end all i'm wearing birkenstocks. they call me jimmy chill, you know that. >> jimmy what? >> jimmy chill. [ laughter ] you don't have to laugh. daymond john, i support this heavily and i want you too. this is a great cause and "mad money" is back after the break. thank you. >> announcer: coming up, cramer takes your calls and the sky is the limit. it's a fast-fire "lightning round" next.

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>> announcer: "lightning round" sponsored by charles schwab. own your tomorrow. it is time, it's time for "the lightning round." play the sound. [ buzzer ] >> then "the lightning round" is over. are you ready, skee-daddy. sam. >> caller: thank you for taking my call. all right. the club is awesome, man. >> thank you. i'll catch you at 12:00 tomorrow when we do our call. >> caller: you guys are working hard at it. those of us who have following around for 20 years need to stick around. >> we're not going anywhere. we're just getting started. >> caller: i'm thinking we should shake up in leadership is step one in turning around in spirit hero system. what do you think? >> a tall order. the stock is low but rather have

you buy honeywell. that's at a good level and will change the portfolio. thanks for being a member of the club. mike in new york. mike. >> caller: hey, jim, how are you doing? >> not bad. >> caller: longtime listener. thanks for everything you do. >> thank you. >> caller: i kind of know what you believe about walgreens already, but i own a lot and i'm concerned about long-term. >> cvs popped on some sort of health care thing tonight, managed care. longer term, look, i got to tell you, i'm not a brick and mortar fellow and can go to amazon. i bought a lot of stocks during the show and during the show, not really but i could have if i wanted to rather than going to cvs so stick away interest them. i represent when they represented the consumer and value and had a store. let's go to dave in hawaii. david. >> caller: boo-yah, jim.

i was hoping to get some of your infinite on a stock called allegro micro systems. >> if you want to be in that, nxp is superior. both semi and nxp are superior. jonathan in pennsylvania. jonathan. >> caller: boo-yah, jim. the club is awesome. your staff, shoutout to them. >> a lot did fight the science, thank you. see you tomorrow at 126789 what's going on? >> caller: yeah, this is about a recent double bottom formation and low 40s so it's not quite oversold. how do you think the glp1 drugs will affect abbott labs? >> i know people are worried about that and have to tell you abbott is a very good company and will be up to the -- let's say up to the challenge. i think that's fair. you're getting a premium company and a very low multiple that is

doing a lot right. i'm okay with abbott at 97. now, let's go to carolyn in florida. >> caller: hey, jim. how are you doing? >> i'm doing well. >> caller: longtime listener, second time call, question about viking therapeutics whether it's a hold or sell. >> very good spec but you have to understand it could be wiped out. i like their situation. let's go to tom in pennsylvania. tom. >> caller: yo, jim. >> yo, tom. >> caller: hey, just wanted to say you're doing a great job and quick question for hlf. what are you thinking? >> you know, i just think that ship has sailed, frankly. i'm moving on from that. let's go to tanji in nevada. >> caller: boo-yah from reno. >> been there, loved it. what's happening. >> caller: this stock lithium have taken it on the chin due in

part to the uaw strike. can buyers of alb expect to be drinking upstream from the herd at these prices? albemarle, buy, sell or hold? >> i'm a seller because elon musk says he doesn't like that business. i'm not going against musk no matter what. i've already been in a death match with that and that, ladies and gentlemen, is the conclusion of "the lightning round." [ buzzer ] >> announcer: "the lightning round" is sponsored by charles schwab. coming up, you rang and got cramer thinking about this u.s. bank. is a big yield worse the aggravation it may cause to earn it? stick with cramer.

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♪ yesterday miles in florida called with a question, you know, what did i think about u.s. bancorp. in 2018 is the last time i thought about it when the super bowl was held there, eagles playing the patriots. then i realized that in the end u.s. bancorp is a bank and right now bank stocks are no good. they struggling every day so tough to get behind them and certainly have very little growth. one thing that made it attractive was its nearly 6% yield but you can get almost that much in treasuries. you know you'll get your money

backnd u.s. bancorp no money back guarantee. think of it, honestly, this has been terrible. silicon valley bank which i mistakenly recommended based on its history got blasted to kingdom come while it was doing a deal that could have saved it and then the stooges of first republic invested terribly and succumbed to the grim reaper. ever since then you've had to avoid the banks no matter what and the scrutiny is so great and liability is too outsized for anyone to handle. all the regionals have been crushed and many have large dividend yields. something that's often a red flag because wall street think that means it could be gutted. tomorrow we'll hold our monthly meeting where you'll speak and answer your questions at noon. this time we're changing things up and talking about what needs to happen for certain stocks to go higher like morgan stanley and wells fargo. for the former we need them to recognize it's now an asset gathering that advises

individuals, very little credit risk which p give it a higher multiple versus pure banking stocks. but even with that yield morgan stanley has been pummeled to no end. meanwhile, wells fargo can't get any traction at all. a monster buyback in july although, i'd argue it's undervalued versus the growth rate but the market is yawning, now, you could argue if our government allowed more mergers, we could see takeovers that would make the smaller banks worth owning but i keep thinking of td bank's failed attempt to buy first horizon and it fell through leaving first horizon an excellent bank trading at 10 bucks and change. going to go out at 25. the saving grace, their stocks aren't coming into earnings season with a head of steam. it feels like never good happens to the bank stocks and don't see that getting better with interest rates soaring.

interest rates have to go back down for these to work. there are hundreds upon hundreds of these bank stocks and color the tape more than people realize. unfortunately, i think they'll keep coloring it red, not green. i always say there's a bull market somewhere. i promise to find it right here for you on "mad money." i'm jim cramer. see you tomorrow. "last call" starts now! >> good evening, everyone. i'm eamon javers in for brian sullivan tonight. on "last call," he directed me to commit these crimes. the sam bankman-fried calls testimony. hive at the courthouse for that. stocks are rallying and one of the top investors is ducking for cover. getting its house in order, getting ready for the search for the next speaker. and ipo pricing and shoe let's looking for that story. how one city's real estate