i'm going with tips. >> tim? >> japanese stocks ripping. mufj bank. >> karen? >> yes, morgan stanley. >> steve? >> wrk. huge upside. >> thanks for watching. see you tomorrow. "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 is always a bull market somewhere. i promise to help you find it. mad money start now. >> hey, cramer, wellcome to mad money. my job is not just to entertain but teach you. so call me or tweet me. you know. this is a what have you done for mow lately kind of market. we all know that. today is a day where we measured

what the feds have done lately as the fed chair talked about nsht rates and keeping them the same. powell's assurance is that he can get inflation under control even though it is running a little hot. that is one reason the dow can gain 220 points and the nasdaq, holy cow, it was 1.64%. there was another reason for the rally. the treasury department issued a bond to refinance the debt for next year. this schedule is what we needed to see. it causes longterm interest rates to fall. the bull market will not be overwhelmed by long bonds. that is another positive. something that allows wall street to award good corporate news with higher talk prices. after all of the rates have gotten tight, we are seeing some

slowing in many areas of the economy, making earnings more perilous. season has been tough. rates may not be high enough. powell said the committee discussed more rate hikes but for the most they left things alone. they sound less eager to tighten than last meeting. that puts the few industrial companies that are still generating good numbers at a real premium. and it gives us the confidence to buy the stocks and company that just reported great numbers. the problem as i see it is that we have not really pointed out what companies have truly distinguished themselves. we were focused on the markets day to day gyrations. that stops. i will tell you who did what for us lately and what happened when they did. i will start with today's hero or heroine and that is lisa sue who saved the day for his stock with one simple line in last night's goal. listen to this, and i quote, based on the rapid progress we

are making with our ai road map execution and purchase commitments from cloud customers, we now expect data centered gpu revenue to be approximately $4 million in the fourth quarter and exceed $2 billion in 2024 as revenue ramps throughout the year. and dr. sue is saying that the revenue and graphics, processors, used in the data center are about to soar thanks to artificial intelligence. these are the kinds of chips that people want me to associate with video. as they come online, it will produce valuble sales for amd. this is the only company that has the chance to be a meaningful competitor in ai chips. there is money to go around. sue is talking about real revenues this year, not some sales in 2027. it is what they have done for you latey, hence the stock's almost 10% rally today. with that one line, we jump

started the aiguru trading like it is on death'sdore, along with microsoft, amazon, adoby. the only companies who have acknowledged revenue from ai right now so far. there is train technologies, you have seen them on the show. mainly heating ventilation business but now it is a sustainable business with revenue growth of 9% and earnings up 23% year over year. the legendary hvac business is extremely strong and it is on fire with government regulations, that is how the stock can jump 12%. how about eaten, a trend in lecrification, energy transition, digitalization, infrastructure spending and reindustrialization. i'm calling out the royal flush of businesses. it is easy to explain the

expanded data and i have to quote here, being modified to support the adoption of generative ai. anything that generates electricity in a clean way seems to have eaten's fingerprints on it. another trend driving higher electric content is the need for solutions that allow bi-directional flow of power back to the grid and the ability to optimize the use of renewable energy to power data centers. that's what we did, right? that's how stock values at the best in show anyway. you should still buy it. those are the savers from the last 24 hours. i can not say enough good things about them. they join lindi, a gross gas company owned by the trust. lindi is called a sleep at night stock because of the endless price. they allow you to hit the snooze

button. i wish we had more snooze buttons. same for general electric which last week had some of the best numbers i recall, and orders of double digits, service up 20% and growth in all segments. g and e stock because of off shore wind projects, home state of new jersey, not good for the coming power spin off but it is giving you a chance to buy at a better price. as much as i salute the stocks, regular viewers know i hate the chips. so who is at the cusp of business whose stock is way down? even as their stocks are shunned, who is the next amd or the next train? let me tell you about two of the stocks that are way down and they could be primed to get better. you sure ain't paying top dollar. we start with dupont, the old fashioned chemical company which

panned a disappointing quarter today. but if you speak to the ever bagable ceo david green, he is seeing shoots in the market that are a driver of earnings. ed told me he expects the turn could be at hand and he has been around a lot. i could be wrong. i've been wrong about stocks but i like this one. and second, there is this one that is down and out called oracle. if you recall, an oracle reported how their data center cloud ai business is on fire. well, i can buy into that. here the stock is 22 points from the high, 19 times earnings. not too shabby. not too risky. this exercise of rewarding the companies that beat the numbers only works as of late. because we have been so darn worried about interest rates. when long rates soar, no one cares about the earnings. but we have no worries today. the fed spoke and the treasury

rolled out a jolly bond schedule. more on that in a moment. these two positives make the what have you done for me lately equation a game worth playing. someone in the market cares about the results of individual companies. given the fed and treasury will not be able to do an 180 any time soon, we could have more moments like this one. why don't we go to lane in new york. >> what is going on? >> i don't know, it is my wife's birthday just trying to have fun, what is going on? >> you are the ted williams of the stock gurus. >> 401? i hit 401. i can see the ball better than anyone. that is a guy i like. what's going on? >> do you think i should put more invested, get rid of it? >> i don't like the retailers, lane. i'm a costco guy, a walmart guy,

amazon, and never the twain shall meet. let's go to brian in florida. brian? >> how are you sir? >> i'm deal really well, how about you? what's going on? >> i'm doing well. i have tremendous respect for your insight in the stock market. i wanted to get your perspective on fedex. >> it is run by one dynamite ceo. i think the world of this company. he will be able to handle the downturn. at $243, i'm saying it is a buy, buy, buy. travis in kansas city, that's travis kelce, right? just put the girlfriend on. oh, hey, how are you doing? >> what about netflix? >> i thought it was pfizer. which one? >> netflix movies. >> i like netflix. they had a dynamite quarter and

good ad driven stuff coming. it is high quality and by the way, just so we know, it had a dip and now it has a pause and refresh and you can buy netflix. let's go to will in kentucky. will? >> hey, this is will in lexington. i had a question about palo alto network. i have tripped a lot of my individual positions. i still have ets. but i like palo alto because it has cash flow. and i like the story, doesn't seem like we will be in a safer world. >> listen will. i happen to like the town of lexington, very much. i have been to that horse park and it is dynamite. here's what i know. i'm calling it best in show when it comes to cyber. the fact that it is 244 still, down 21 points from the high, you are dealing with the cash aurora. when you hear about the cyberattacks, what north korea is up to or iran, you should be thinking, i got to buy

something. panw, that's why will has horse sense. given that the fed and treasury will not do a 180 any time soon, we are still in an oversold market. i think this was a bona fide good one. we will have more tonight on this important fed decision day. i'm thinking of the man i call the savior of the bond market. not familiar? josh floss, right that down. what today's investor can learn from his approach deals. then,could caller be the next panera? or is the chicken too spicy to touch? pep tow is good for me. i'm looking at this fast casual stock ahead of next week. and i want a better look at consumer spending. how about the company that owns chili's and mazziano? stay with craamer.

only the sleep number climate360 smart bed lets you both sleep up to 13 degrees cooler or warmer on either side, and at your ideal level of comfort. your sleep number setting. and now the new

queen sleep number® c2 smart bed is only $899. sleep next level. shop now only at sleep number you want to be able to provide your child

with the tools or resources they need. with reliable internet at home, through the internet essentials program, the world opened up. fellas, fellas. that's how my son was able to find the hidden genius project. we wanted to give y'all the necessary skills to compete with the future. kevin's now part of this next generation of young people who feel they can thrive. ♪ ♪

i've been working downtown for 40 years now. i have walked by the most powerful man in finance a dozen times but had no idea who it was. i'm talking about josh frost, the assistant professor at the u.s. treasury department. he may have changed the entire of the financial markets. the release today may have ended the equill ibrium problem in the bond market. this is a big deal. the quarterly funding statement of assistant funding for financial markets, josh frost. the man who used to be at the new york fed down the block where he was co chair o liquidity program.

he calculated the government tobero money without destroying the treasury market firth than it has been destroyed. rather than emphasizing the long end, he is offering funding that is short duration. slower term bonds have been hammered. frost realized the treasury would do less damage if they sold shorter term notes, rather than trying to issue 20 or 30 years bonds which have been crushing us. the treasury department now more or less controls the turn, pushed by the market. unfortunately the government used to borrow so much money that long rates are hostage tolonger term treasury auctions. today, frost decided that it is worth paying attention to the stock. we have a huge rally on longer term bond markets which of course sent the yields dramatically lower. if the treasury plans to sell more short-term and less longterm, we will be closer to the equill ibrium at the

longterm. that governs auto loans, to mortgages and corporate finance and in a cogent way, the price of your stocks. stocks are known as elongated assets too. for years the treasury has been tone deaf to how far it should go to cover the irresponsible deficit. i have urged and begged two successive treasury secretaries in person to issue longterm bonds, please, back when the interest rates were lower. we could have locked in 3% interest for 0 years for trillions of debt. i urged publicly and privately creating a 50 year bond because rates were so low. no one at the treasury seemed to care. they told me i didn't understand the bond market even though i have traded bonds since 1982. that ship has sailed. to stop the huge climb, the treasury has to go out and find buyers or kick the candown the road by issuing shorter term paper. enter josh frost, savior of the

bond market who gave the long end of the curb a reprieve by commuting the death sentence. he said sure there is powell out there calling shots on the short end, but the 30 year buck starts here at the door of josh. with this quarterly refining statement of assistant secretary josh frost, he took treasury out of the equation for longterm interest rates. he spared us from the government's propagated spending on the long end. josh, i wish i knew you when i walked regularly by the wendy's or perhaps the dunkin' donuts at the corner. i would have tipped my cap and maybe bought you a cup of joe and certainly thank you for your public service. mad money is back after the break. coming up, grab a bowl of fast casual's future. dig into the stock that could be your next bread winner when we return.

we have a chance to check back in with ron shake, one of my hooroes, founder and ceo of panera bread who sold his company for $7.5 billion about six years ago. he was here to talk about his new book, know what matters. it is a great read. he is still involved in the business as an investor, that includes a major stake in kava, the chain that became public earlier this year. he is ped of the board. and told you that kava had a great concept but to wait before buying the stock. they have a bad habit of going public with a bang and then spending months retreating from initial highs. i told you this one was likely to double in the first day before rolling over. sure enough. kava was public in 22, closed under 44 first day and then peaked at 58 in august before

pulling back to just under 32 today. at these levels, it is more intriguing which brings me to a compelling pitch last week. take a look. >> kava has the potential to be an industry dominating. many companies had shouldn't go public but this one should. >> why? >> it is in a niche that is powerful. mediterranean could be the next mexican. it has bold flavors. it has the number one diet in america. >> one of the real ones. he has earned the benefit of the doubt in the restaurant industry. from the first time our show aired in 2005 until panera got acquired in 2017, he gave you a 475% gain. that is five times the gain you would have gotten from the s & p 500 over the same period. with a lock up on insider selling coming on december 12th, something that will likely

trigger a pullback. is it time to put cava on the chopping list? when it ended, most of the analysts admitted the coverage was bullish. most of the firms participanted in the ipo. they are still technically a chinese wall separating the banking to the industry side but it is rare to slap a sell rating on a company going public. you will not see a lot out of the gate. that is not the case here. cava got seven buys and no holes. an average price target of just over $44. brian harper upgraded it from equal to over, meaning hold the buy. any consumer softness is baked into the stock wall cava has much better traffic trend than the peers. cava had a solid quarter in august, only down slightly from the first quarter. sales growth is astounding 18.2%. that is spectacular for a

restaurant chain. at the time of ipo, i told you to watch the average revenue per location. chipotle has some of the best numbers at under 2.t million. when cava became public they had 5.5 and it rose to 6.2. that is encouraging. they are respectable opprofitability. before it came public, i called out the profit margin which betters the profit of the store and enduring the corporate costs. cava's profit margeage came in at 25.4% in the first quarter. now it is 26.1%. up several base points year over year. a full year forecast for the first time in august, they are targeting 65 to 70 new restaurant openings with a growth of 15%. it is at least 23%. this is a niche. the guidance implies a meaningful slowdown from the

first half. the profit margins aulsz headed in the wrong direction. but the forecast was encouraging. maybe they are low balling us on the margins figures, kind of underpromising and overdelivering. we will find out. cava reports again next tuesday. i will be watching to see if the company can keep up the momentum. i wouldn't try to get too cute with the stock going into the quarter. because the lock up on insider selling expires in six weeks. if you feel really good about it, knock yourself out before the quarter. but honestly, don't buy this one in any quantity until mid to late december when the insiders can sell enmass. given the desire for insiders to nail down gains before they become not gains, long story short, inthauziastic summary of why it has so much potential has us eager to think about this for the first time since the ipo.

be patient with the stock. it looks like the forecast is in tact and the stock is now pulled back from the highs. the bottom line, if you can exercise a little more patience, that is what i recommend. it is time to think about putting cava on your shopping list. this company has longterm potential. and ron would only have gotten involved if he believed in the company. he didn't need to. maybe that is the best endorsement of all. brent in washington. brent? >> yes, sir. love the show. >> thank you. >> i would like to ask you about arms holder, ticker arm. and i wonder what you think of any changes in the revenue model? >> this is snofrnlt i think arm is one of the winners here. i like amd. everyone knows that. i like broad com. and people know that. i don't care about the current quarter. arm has the potential to be in

the mix because they are inviddious partner. i think they are doing a terrific job and i'm bullish on arm even if it is a tad more expensive than i would like it to be. peter in virginia? >> jim, my man, how are you doing? >> i'm doing okay. how about you? >> great. quick question, instacart ipo stocks not doing great, stock down 50% from the ipo high. they just turned a profit for the first time in 10 years in 2022. also, i think consumers are looking to spend more efficiently and getting someone else to buy groceries for you is not the most prudent use of cash. i don't see a great growth hypothesis for them but i want your take. >> i agree. i don't. tony shoe delivered a good number from door dash. if you want that business, go with door dash and avoid maple bear. that is three up, three down, not good enough to be

attractive. thank you for the question. as i said, i see ca vrgs a's longterm potential. i think it is time to put it on the buying menu. but rig international reported impressive this morning. is there more behind the quarter than the crispys? i'm taking a look at one consumer facing stock that has changed trajectory from being a loser to a winner. i will look at why you may want to add it to the shopping list. and all of your calls rapid fire with the lightning round. so stay with cramer. in the u.s. we see millions of cyber threats each year. that rate is increasing as more and more businesses

move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com

only the sleep number climate360 smart bed lets you both sleep up to 13 degrees cooler or warmer (we did it) on either side, and at your ideal level of comfort. your sleep number setting. and now the new queen sleep number® c2 smart bed is only $899. sleep next level. shop now only at sleep number

what do we make of restaurant stocks and increasing worry of the consumer? brinker international, head of chili's and maggiano's, i thought the numbers were good. brinker delivered in line revenue at sales and posted a monster 22% earnings off of the basis. on top of that raised the midpoint by 15 cents. i thought the stocks should have been up more. chili's is doing well thanks to items based on value and a return to more natural advertising. it is continuing. the stock had a good lip but let's see if it has more to run. let's check in with the head of the brinker international. welcome back. >> thank you for having me on the show. >> i love the numbers and i like that the consumer is responding to the value and to your commercials. i know you just decided to put

more money into advertising. you are seeing a good cadence month to month as the quarter went on. >> our q1 was definitely a great stair step in the continuation of the strategy. simplifying the team members to do their job, uh-uh lowing guests to feel special. we are putting money back to improve scores. that is a recipe for great growth. and better margins. we had a great quarter and excited about the future. >> the food deflation, coupled with the fact that you have some good value meals is showing me that this is something that i would regard as sustainable. >> yeah, we obviously had some cogs deplation that we felt good about but also in the restaurants, it is starting to show up in the pnl. we get rid of fry baskets and

plate wear, that is millions of dollars hitting our bottom line. we are seeing an incredible improvement on the margins. these are things we can take to profit or start reinvesting in the business. we are doing both and that's why you saw such a good quarter. >> i like the fact that everything is going up. the hiring of people is responding too. is this because of where you are placing the ads and are you doing mostly sports? >> yeah, i have to give a shottout to the head of advertising. he is hand picking them and we are seeing them everywhere. i think what is starting to develop is we are pulling a lot of the deep discounting out of the business. we are advertising the right way. we are putting the money back into the restaurants and teams. we are seeing the spoorns levels improve. when you stop deeg the discounting and nest vesting in the business, great things happen.

>> i want to talk about something that is overblown by wall street and as a restauranteur and someone in the business, i know. this gop, obesity and diabetes drugs is making people concerned that people will not go out as much. i think that is a total wrong rete read whachlt. what is your read? >> we look at it as any had head wind. if we have managed or not. it is not the first diet pill that thaz come out and it will not be the last. currently at the price point, it is close to $500 to $1,000 a month. it is probably not that much overlap with a chile's guest. if it were to restrict diet, we have a great option. we have skinny margarita that is premium. we are well positioned if things

change. we will keep moderating. >> i wanted to ask you about alcohol. some people feel the group of 21 to 25 is not drinking as much. i don't get that read but i understand what people see. you have a terrific reader market business. i'm sure you have seen a lot of the beers with no alcohol are selling well? what is the state of liquor at brinker? >> nonalcoholic beverages are growing, beverages are growing. we feel good about it. we feel there is a huge opportunity to focus on margaritas. we are the number one margarita sales restaurant in the entire world. we sell a ton of tequila. there is a lot of room to innovate up. whether you have $6 in your pocket and you want the margarita of the month or get the supreme one at $14, we will have your needs met. we have a gigantic nonalcoholic beverage business and we partner with coca cola. they are amazing. >> they are fabulous. i want to drill in on this.

agave spirits number shows me that is the greatest growing part of alcohol. you are the number one producer. i want people to understand the margins are quite good in the agave business. >> yeah, absolutely. alcoholic beverages and nonalcoholic beverages have incredible margins. the more we can grow that business, the more the overall margins will grow. that's what we are seeing. the improufbmentes are making not just improvements in food costs and margins but we are seeing the same thing in beverages. >> there is a perception that the consumer is weakening. i say with the consumer feeling a little more tepid, they will still go out but they will go out at a value price which is again your source. >> we get asked about that all the time. what happens if the macro hits and we will do the same thing whether it hits or not. we will improve service level because the guest will go out less. they will choose the guys they

trust like chili's. and we will protect the value. $10.99 rgs burger fries, chips and salsa, drink, that is unbeatable in any category. >> you don't know you are doing customer relation management stuff and it sounds good. you have a pretty good affinity with your guests. what will it mean, more names that you get and why you need to email discounts? >> it is a huge opportunity for us. we have a data base of about 12 million names that are active in our data base. we don't know a lot about them. we don't have the data tokenized. meaning, no matter how you transact with us, we will know when you came in and what you bought so we can meet your needs and give you relevant communation on what is going on with chilies. not everyone is worried about what is going on in chilies. we want to make sure the

messages are targeted and relevant. we think we can do that and have more explosive growth and traffic. >> i have to agree. it is a terrific idea. i'm a fan, have been for many years and i think you do a terrific job. i thought that stop should have been up more. that is ceo of brinker international. not too late. get in on the quarter. >> our stock is open for buyers. >> thank you. more after the break. coming up, cramer takes your calls and the sky is the limit. it's a fast fire lightning round, next. this is spring semester at fairfield-suisun unified. they switched to google tools for education because there's never been a reported ransomware attack on a chromebook. now they're focused on learning knowing that their data is secure.

( ♪♪ ) (♪♪) in this clinic, we pride ourselves on putting others first. it's on us to help care for our clients' well-being; to help them adapt. it's inspiring to work at a place where our patients succeed. and we as therapists do, too. with great benefits from principal, we feel appreciated for the work we do. (♪♪)

it is time for the lightning round. and then the lightning round is over. are you ready? we will start with mark in missouri. mark? >> thank you for taking my call. i want your mission on gremlin in mid september. given the large demand for defense related products, should i add to my position? >> yes, you should. it is a terrific situation and i like lockheed martin. you have to buy more. let's go to larry in virginia. >> how are you doing, thank you for taking my call. >> what's up? >> my question is about lucid in 5 to 10 years. is it possible to turn it around? >> it is possible it will make it but the common stock may not

make it to the promised land. not recommending any stocks that are losing money. chris? >> thank you for taking the call. first time caller. >> all right. >> i learned a lot from you and i want to thank you. my company occidental petroleum oxy. >> i have been shocked that this stock has not moved up more since warren buffet continues to buy. but oil is a surprising loser despite the conflict in the middle east. that is not my favorite. take a hard look at cotura, 50% natural gas. i think it may continue because we believe so much in it. mark in new york? >> hey, jim, big fan of yours. >> thank you, buddy. what's up? >> the trade desk, do you see this as the long term buy? >> i was looking at roku today

and i would like a better way now that roku is not very big to trade it and you hit upon it. it is an expensive stock but it is a good one. let's go to michael in michigan? >> all right. i'm in a comfortable chair in michigan and i need your position on adian? >> i can't recommend that near the glass. chris in kansas? >> thank you for your staff for having me on. allana wants to say hello. >> absolutely. >> i like your opinion on margot technology? >> i think matt murphy is doing a terrific job. we know that there are certain companies doing fantastically, let's say amd. i know matt may not like this but i think the better buy right

now may be broad com, abgo. i think optan will by back a ton of stock or be able to buy the multiple enhancing bm wear. we will be able to hear about that soon. i think broad com, despite the fact that it has a big $850 price is the better one, 10 shares. how about charles in florida? >> from sunny florida. >> everyone loves st. petersburg. >> love to have you here. i like to ask you about a stock we have had for generations and secured the divdebd, still has a tremendous hardware, at&t. >> i don't like at&t. verizon reported a decent quarter. if things turn tough again, we have had three great days. if things turn tough, i will say

why didn't i recommend to this nice man to buy the stock so the answer is no thank you. let's go to truman? >> jimmie boo ya. what is going on? there is a company that is a fantastic automation company, a real game player in the market in the on shore manufacturing, reshoring, but it seems like their salesmen are stuck on the side of the road with their battery dead in their ev. what is going on with emmerson? >> you know emmerson did an acquisition and i would like to see the results. it had a good run. we were thrilled it went up to $100 but it does report next week. i think it could be good but a lot of the industrials are giving up the ghost because people think we are in a slowdown. i think emmerson is a core

holding. let's go to buzz? >> jim, first, give a shoutout to my boys,forest, railer, hugy bear. >> the whole shooting match. i agree. >> the last time we spoke, you were out here in california for cream course. we are still getting edwards live science. >> that was a terrible quarter. they must do better. that ends the lightning round. >> the lightning round is sponsored by charls schwab. coming up, a simon property group we trust. cramer has the real deal on real estate, next. the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute

news and insights. trade brilliantly with schwab. - i got the cabin for three days. it's gonna be sweet! 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.

have you met them yet?

[ gasp ] [ screams ] during earning season, i like to look for stocks that change their trajectory in response to the quarter. winners become losers or maybe losers become winners. it gives you an opportunity to reevaluate stories where wall street may have gotten too complacent. they are not only meaningful but sometimes earth shaking. take simon property group, the real estate trust that owns some of the malls in america. it had been pulverized over months but it came roaring back. first let's talk about where it is coming from. for years, we were told the mall is dead, right? and all of the business is being

taken over with e-commerce. i can't tell you how many times i have heard that simon properties had no future. but i thought that was simplistic. this company is a shrewd operator who has come up with creative solutions to navigate through a tough environment. simon property created an investment vehicle to buy more base retailers that went bankrupt. it allowed key tenants to pay the rent and leaving no giant hole in the mall. and then the malls are not what they were 20 years ago. but simon owns the highest quality malls that have held up much better than others. that's why i defended this one until the pandemic and then it was impossible to stay positive. they rebounded by late 2021 but the last couple of yours have been a slop. the last few months are ugly because of the rise in interest rates making simon 6.8% dividend

yields seem less enticive. everyone is worried about retail. because if the consumer is not tapped out yet, they are liking to be tapped out if inflation doesn't come down. so simon praufrpts has seen the talks tumble to $105 before it reported on monday night. the reports were good so that it jumped yesterday. and there is a lot more room to run. what changed when they reported on monday? first of all, they delivered $1.41 billion in revenue. wall street was only looking for 1.28. that is huge. their funds from operations, that is the real estate trust earnings came in at $3.20. simon had an stounding # # 95% option rate. higher than expected. their base minimum rent was $56

per square food, up year over year. that is funds from operations forecast by 30 cents. talking about $12.15 to $12.25 for the full year, analysts were expecting only $11.88. on the conference call, david simon painted an impressive picture. listen. leasing momentum continues across the portfolio. we signed more than 970 leases for approximately 4.3 million square feet in a quarter through the first nine months of 2023, we signed more than 3500 leases for 15 million square feet which is expected to generate over $1 billion of revenue. simon added and i quote, we have an additional 1, 100 deals in the pipe line. we are seeing strong, broad based demand from retail communities including continued strength for many categories. i don't know. that sounds phenomenal to me. during the question and answer

session, simon gave us more color. they expect occupancy close cloes to prepandemic level. he is waiting for the shoe to drop but they have not seen it yet. simon called out many areas of strength, food and beverage, high end luxury, entertainment. simon property has cycled through the retailers that struggled during the pandemic. things are trending in the right direction. tis is a critical man who would not be saying them unless he believed them. let's talk about simon spark group, joint venture. they are set up to buy brands going under. they own brooks brothers, forever 21, rebalk and others. it has been a homerun for simon property. who would know better than which of the brands worth saving than simon? we saw more benefit from the business. the sampler based fashion detail

digital retailer sheen signed a deal with store within a store set ups at forever 21. and returns made through forever 21. go ahead. shooin was all over what was highlighted. we saw simon start to monetize investment in sparc. they booked a nice gain. when they claim they are pleased with the venture, it introduced numbers that not all simon investors love. they plan to sell off the stake in the joint venture over time. they don't want to be a house of retail brands. this morning goldman sachs added simon to the conviction list adding that they are poised for a combat as they expand for a post covid environment where people enjoy shopping in person. i think there is logic to the argument. goldman notes that there is strong demand and dwindling supply of high end retail space. they are bullish on simon's ability to expand into outlets. if they want to build up their

outlet business in a hurry, take the proceeds to buy tanager factory outlets. that is chomp change for simon. they can buy back the stocks like they did in the third quarter when they repurchased 3.3 million shares. not huge number but it is significant. this is a company that has returned tens of billions to share holders but almost entirely via dividend. the fact that they are buying stock along side you is an immense positive. the court business is doing great. they are getting additional revenue from the retail businesses. there mall could have an upside. mall is an experience. and all of the stock trading at less than ten times of the funds operation forecast and a 6.8% dividend yield. i have said dividends don't give

you much of a cushion when you can get 5% from a treasury risk free. but i think this is big enough to put a floor underneath this one limiting the down side. i like to say that there is always a bull market somewhere. i try to find it somewhere here on mad money. i'm ♪ right new on "last call," a hot job market, an ice cold job-related stock, what exactly is going on? we'll dig into it. colluding on rent? washington, d.c.'s attorney taking a hammer to landlords who he says broke the law. he is here. that's a wrap. the jury is set to deliberation on the sam bankman-fried fate tomorrow. plus, another huge offshore wind project bites the dufrkts and now state taxpayers may be holding part of the bag. what's love got to do with it? apparently nothing. why dating stocks are down in the dump and the world series striking out. we'll show you