rangers, 3-0 lead in minnesota, they gave it back, lost in overtime well, they will avenge that a few blocks south of us why are you shaking your head? >> we have limited time. >> medtronic back to you. >> thank you for watching "fast money. see you back here tomorrow at 5:00 for more "fast. in the back here tomorrow at 5:00 for more "fast. don't go anywhere. "mad money" with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to explain tell you how days like today could happen so call me 1-800-743-cnbc or tweet me @jimcramer. when interest rates spike, they can stop any rally in its

tracks which is exactly what happened today. after eight straight days where the s&p 500 roared higher we've got a bond market with a pullback in other words, rates went up big. the dow losing 220 points. s&p falling .18 and the nasdaq tumbling .94%. and i don't think the market's done going down for now. if the s&p had gone up today do you know this would have marked the lodgest winning streak in 19 years. and it sure looked like we had it in the bag right up until we got a 30-year treasury auction and nobody seemed to be paying attention but very weak demand and that sent long-term interest rates soaring. as is so often the case when these treasury auctions fail and rates go up stocks just get clubbed. remember when the market caught fire last week i told you it was all about the new treasury issuance schedule for 2024 that was skewed toward the shorter end of the yield curve mostly three to ten-year paper very few 30-year bonds would be used to refinance the debt

it was great news because the excess supply of long-term treasuries is what kept sending rates up but all the treasury issuance scheduled didn't eliminate the 30-year auctions remaining for this year. and today one of those auctions ended up pushing the yield on the 30-year shockingly higher. it was dispiriting but unfortunately, when the treasury department arranged the schedule for 2023 it emphasized that longer duration paper it ended up doing gratuitous damage to everything financial >> the house of pain >> then right on top of the auction fed chief jay powell came out and said he may not be done you know he keeps playing that game nothing new here he's been saying that he'll keep tightening if necessary for ages doesn't matter no market's equipped to handle that devastating one-two punch, the auction and the fed chief. so the averages then they got pulverized stocks cannot rally when interest rates spike and the fed says we still need to be vigilant against inflation. if rates keep flying i suspect mortgage rates will be impacted,

quarter of a point or more the housing stocks were actually going higher recently. i mention this because today in a really terrific cnbc virtual event called your money i got just an amazing question from my great friend tyler mathisen who pondered how this could be such a huge year especially for the nasdaq given that interest rates have moved up so dramatically. why hasn't that crushed the market the way that higher rates kiboshed this impossible bullish winning streak today i mentioned that believe it or not in the 1990s we had several runs like this and while some ended badly others demonstrated that stocks can indeed resist a gravitational pull of the bond market for long streaks at a time in short it's unusual for stocks to go up in this kind of environment but it's not unprecedented. what does that mean for the nascent but powerful eight day rally that seemed to be nipped in the bud today is it gone no i don't think so i don't think the rally's over but you have to understand that today was the kind of day we've seen many times at least until ten days ago

i think we'll have a few more sessions like this but that doesn't mean they're going away entirely and it certainly doesn't mean we're finished with the sell-off because we got some negative reports tonight which tell me that tomorrow it could be soggy so you need to pick stocks very carefully right now if you're trying to make money in a market like this one after that great streak and us being now overbought first i would say as always there are some stocks that i don't want to say immune but somewhat immune to the pull of bonds because they're not outrageously expensive and they represent companies that don't need to raise capital. in the '90s it was intel and microsoft as the two combined to create the pc revolution they were the essence of what worked in the '90s when we had higher rates just like today this time i'm thinking that six members of the magnificent seven remind me of intel and microsoft in the '90s. currently microsoft's one of them the stock's zooming because they're making money on artificial intelligence. no, it's not hype with them. it's not hope. it's money actual products like co-pilot that allow you to harness the power of ai yourself at the same time nvidia's the

king of artificial intelligence. amazon's been using ai for years. that's how they know what you'll buy. that's called inference. inference is key to artificial intelligence the others aren't necessarily part of the ai mob but some are involved and they've got a lot of things going for them meta and alphabet are taking a huge amount of ad dollars away from traditional media channels, more every day, and ai helps them make those ads more targeted bl look out for those two of the seven tomorrow because a very sharp outfit called trade desk i like very much reported tonight and it is being crushed. it helps advertisers in the web get the best price and placements it did see a real slowing in ads this quarter and gave a terrible forecast okay and that's something we didn't hear from meta and alphabet when they reported recently but something you'll have to hear over and over again tomorrow particularly when they start talking about it apple's not an ai play but their products are so special it has withstood the pernicious input of the bond market only tesla's been getting

crushed because only tesla's hostage to the bond market they're an automaker which means customers need financing when auto loans get more expensive they lose business more on the sorry state of ev affairs later in the show but this is not a tesla moment their messages, companies can defeat the downward pull of interest rates if they have a fabulous secular growth story like artificial intelligence or spirit technology when it comes to reaching people like facebook and alphabet again, though, remember, ttd is going to hurt those stocks tomorrow we'll talk about them tomorrow at the 9, we'll talk about it at the club normally i tell you drug stocks with terrific stories can buck the trend but the designated winner in big pharma eli lilly had run up so much it was subject to intense profit taking today. down 4.5%. not as weak as lilly remember most big pharma names are dividend stocks that compete directly with bonds. so when treasury prices come down and rates go higher the drug stomz almost always get hit. doesn't matter ely lilly just got fda approval for its

revolutionary weight loss drug by the way the rest of the group demonstrated the linkage in a perfect way. i would buy eli lilly on weakness now that its miracle obesity drug could actually be prescribed for weight loss the american heart association is considering endorsing this whole class of drugs to prevent heart disease and we could get something like that announced this very weekend when the aha meets. finally the turnaround stories that are powerful enough that they won't be weighed down by bonds. at least the moment they're announced. last time we got tremendous news from disney. oh, my are we just -- it's about time ceo bob iger laid out a plan to save $7.5 billion, up from 5.5 previously meanwhile the company added 7 million core subscribers to disney plus. that was much more than expected and predicted the service would reach profitability by this time next year. that's on target this is all good news. it's coupled with the possibility get this there will be a dividend declaration very soon and then maybe even because they do have a lot of cash in a very good balance sheet a buyback. stock shot up almost 7% on that

news yes, disney's balance sheet is that strong. even if it buys the rest of hulu from comcast, parpt company of this network given the stock had been horrendous for so long it was able to erupt higher today that one, if it comes down tomorrow what can i say? >> buy buy buy >> throughout the '90s we saw amazing reinventions and cost cuts that took stocks much higher even when rates were on the rise that could be disney innovation and self-help are what allow stocks to buck the pull of the bond market just like what we saw in the '90s i think we actually could have one more up day. we would have i think if it weren't for jay powell's comments but you know what, i think we're going to have to go down a little now because of what he said bottom line, remember the names that were doing well up until powell delivered the cowed gra even the ones that did well this very morning because those will be the first to bounce back when the smoke clears and after a few days it will clear. jim in new jersey. jim. >> caller: yes, sir. >> hey, jim. it's jim >> caller: how are you >> i'm fine. what's up? >> caller: i'm calling you today from the great state of new jersey with a question about

dominion energy. stock symbol d i bought it in the year 2020 at 81 today it closed just below 45. it currently pays a respectable dividend of 2.67%. considering where i own it, in your analysis in the near to midterm is this stock for me a buy, sell or hold? >> okay, so jimmy, listen to me. this stock is one of the worst in the utility segment and the utility stocks are all down like the bond market has been down. interest rates go higher it's down about 27%. they are doing a reorganization that sounds intriguing to me and i don't want you to just ditch it right here but it yields 5.9% when it gets down to a 5% yield, in other words, when the stock goes higher i think you should sell it. i don't think it's that great a company. it used to be. bud in ohio. >> caller: boo-yah, skee-daddy very happy club member bud calling from beautiful akron, ohio >> thank you so much thank you.

i appreciate it. >> caller: thank you listen, i read all your books and would really appreciate if you could grade me on a very brief recap of my homework assignment on huntington bank corp >> huntington bank -- i'm sorry, go ahead i didn't mean to interrupt go ahead oh, okay darn all right. so listen, this is the problem and i said this today in this excellent, excellent meeting that we had with tyler mathisen, this terrific -- we do have some great programs around here and it was your money and it was so good. and here's what i was asked about, regional banks. and i talked about huntington. and it's incredibly well run it yields 6% they're doing a great job. but these are stocks out of favor with the market. and as long as interest rates are going to be worked their way higher or stay this high huntington banc's share is not going to be able to rally from these levels it needs lower rates that must happen there's your homework.

can i speak to molinsky in virginia >> caller: hey, cramer thanks for taking the call appreciate it. >> of course what's happening >> caller: do you know why 9 and 6 are my two favorite numbers? >> no, why would that be >> caller: because at 9 i've got you on "squawk on the street" and with you faber and carl that's the best team of financial journalism going today, period. and 6 i've got "mad money. >> you're very kind. i thought you were like oh, i was a mentalist, i was thinking what other numbers are you going to pull out of your head i like that. 9 and 6. remember that over there yeah, birthday guy >> caller: between the two i can read about the club which i'm a member of. >> thank you we've got a big meeting next week and don't fret about the magnificent six of seven that we have because i think they're doing well go ahead >> caller: i'm a little perplexed. every restaurant i go to's packed crowded. anywhere i go. and i travel around. any city but still the number one food

distributor in the country can't get out of its own way it's doing nothing i'm not talking about cisco networking i'm talking about sysco foods. >> no, you're absolutely right it should be doing better. i don't know why it's not doing better i know it had some higher costs. look, they've had the same affliction that all of us have with inflation but you're right, it should be doing better because restaurants are doing better we know the numbers. we know them from all sorts of different companies. i'm surprised sysco is not doing better than it is right now. a bad bond auction and when i say bad i mean -- >> sell sell sell! >> the house of pain >> and stern words from jay powell, one-two punch, were too much to overcome this afternoon. but keep an eye on the stocks that were outperforming in the morning because those will be the first to bounce back once the dust settles and yes, alphabet and meta will be under pressure if there's a trade desk we'll deal with it tomorrow as that gentleman just said, malinsky at the 9:00 on "mad money" tonight thought it was game over for gamers?

take two interactive got extra life after its stock soared big this year. up 40% year to date. i'll see if the move can continue if that stock comes down tomorrow that could be interesting. is the electric vehicle market short circuiting as growth in this space -- it has spent years pumping cash in the business i don't know if it's paying off. from trains to planes to automobiles i.t. makes the technology that keeps it all under control. i'm sitting down with a ceo fresh off earnings to find out what's ahead so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on x have a question? tweet cramer #madmentions send jim an e-mail 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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yesterday take two interactive announced that they're coming out with a trailer for a video game next month. i'm going to be specific about they in a moment and that news alone was enough to send the stock up more than 5% because the game in question is yes, grand theft auto 6 the next installment of the biggest franchise in the entertainment business the last installment came out a decade ago it's the highest grossing entertainment product in history. after the close take two reported a good quarter although some thought their guidance came that a bit below expectations. more on that too it was still enough to send the stock up another 2%. so could this be the stock of a major move higher? let's check in with chairman and ceo of take two interactive to get a sense of what's going on mr. zeldic, thanks for being on "mad money." >> nice to be here >> one of the reasons i always find it hard to tell people o'own your stock because i

always want them so is because of this tlez a reuters stour that comes out that says take two interactive downbeat bookings on sluggish demand. i read everything in a vacuum. i thought the bookings were up how does this stuff keep happening? >> i really can't comment on reuters. i can tell you we're on the high end of our net bookings for the quarter, we reiterated our guidance for the year. our management results were exceeding expectations and sales were great across the board. still challenging times out there. >> i'll give you -- let's give him this there were some people who felt nba 2k which is an amazing game could have done 5 million. it about 4 1/2 is that make or break for you? >> that's just a timing matter we think nba 2k 24 will end up being a bigger title than last year's iteration it's certainly a better title. but there are different marketing methods we pursue at different times. at this time last year we were closer to 5 million.

we'll end up making that up over the coming months. >> and i understand there are some people who feel -- and you've told me over and over again it's really hard to crack into the zynga part of the business, the mobile but if you get it it's the holy grail. i think you talked about a group at my agent's endeavor, something about the possibility of something called power slap which i have ever seen that sounds like it could be the next big. >> it's already a hit. it's a modest hit but it's a hit. i think the key thing is that the hardest thing to do in mobile video games is create a new hit. and we have power slap, which is small but terrific, and then we have two that are bubbling up, match factory and top troops so we're cautiously optimistic i don't like to claim success. but it feels pretty good >> i was looking at t"the new york times" numbers yesterday. i know my wife plays wordle every night before she goes to bed. i say strauss has got something better i know this guy. where is it? >> we have a lot of great titles the best thing about zynga is like our console and pc business it has the best collection of

owned intellectual property in the mobile space the point, though, is we always need to refresh that that is hard in mobile looks like we're going to be able to do that. meanwhile, the deal with self has overachieved against all of the metrics that we laid out and it's accretive to the company. we're really happy with it >> good. i'm glad you said it that way because sometimes what happens is people say it's really hard it actually is empirical that it's winning there are numbers. >> that's exactly right. >> let's talk about grand theft auto first the current iteration but then 6 first i want people to understand you not only do not rush a game but it's entirely possible that mr. hauser, who everyone knows is a genius, didn't even tell you he's ready. is he that independent >> we're very close colleagues no, that wouldn't be the way any well-run company operates. we work together very closely. that said, our labels do have a great deal of independence and we not only encourage them to

pursue creativity endlessly, we insist that they pursue their passions and look, grand theft auto 5 was released ten years ago it sold in over 190 million units. it continues to be a powerful force in the business today. something like that is worth waiting for. >> first of all i'm sure the iteration's going to be amazing. but second, please, because you are both at the intersection of technology and entertainment talk about what the technology might mean, in the last ten years what's happened. i think that may be the trick to why this is going to be the greatest selling game of all time and those who are worried about sluggish downbeat bookings are going to miss the next 60 points >> we always ant our labels to talk about their upcoming properties you're right, though, that technology has advanced greatly since grand theft auto 5 was released that was literally three console cycles ago >> what was nvidia doing then? >> and it remains the standard bearer for the industry now.

that's extraordinary so yes, my hopes and expectations are very high >> now, is it possible as some of my friends at nvidia tell me that there could be some things lurking inside that we never thought, kind of like free guy where people who are non-players may turn out to be not as much non-players as you think >> well, again, i wouldn't talk about any particular title i do think that generative ai is going to change the nature of what we do and i think it will change the nature of many of our games in the future, all to the good for players and consumers. i think your point, jim, is that could indeed broaden the market because to the extent that the experience is more compelling and more welcoming, we already have 2.5 billion people on the face of the earth that play video games. maybe that number goes up. >> what will happen is my nephew will say uncle jim, have you seen this game this character or that i think it's word of mouth for the next iteration that can make it so big. >> i think there's enormous opportunity ahead.

and we are already the fastest growing industry in the entertainment business i think the business is likely to accelerate. and technology is part of that not all of it. a part of it >> one last thing, it bothers me, i think people have all these -- you put numbers out and numbers out and numbers out. if you didn't have grand theft auto wouldn't 57 million units for red dead be just an awesome unbelievable number? >> it's a great point. we have 11 franchises that have each sold at least 5 million units. our third, fourth best titles are still bigger than most of our competitors. and today we are the number two pure play interactive entertainment company on earth it's pretty good from our point of view that means we still have a lot of work yet to do >> i couldn't agree more i thought it was so great people could still get the stock because of the downbeat market at a price that was very reasonable versus what i thought it might be when i heard good gta 6. that's strauss zellnik, chairman and ceo of take 2 interactive.

please, do not read -- no, read these things and realize why you can get the stock at i abargain. "mad money's" back after the break. >> announcer: coming up, when you come to a fork in the road get directions with the auto strike in the rearview, where is this cohort headed next? cramer's got the gps when we return

what do we do with the automakers now that the bloom is very much off the rose when it comes to electric vehicles in the whole industry being strangled by higher interest rates? you probably don't want to touch it right now but i think some of the auto stocks are worth buying into weakness, especially if the fed's near done tightening something we still can't tell given how the fed chief is always leaving the door open for more hikes, as he did today. however, you need to proceed with caution because you don't want too much exposure to the

ongoing meltdown that was once the most exciting investment story out there. yes, electric vehicles >> the house of pain >> oh, and make no mistake about it, it is a meltdown everybody in the industry assumed electrics would keep going like crazy but now the growth has slowed just as the market has been flooded with new supply we're not dealing with an ev apocalypse but this segment's clearly less exciting and less profitable than the automakers ever assumed earnings season has been one bad news after another for the automakers tesla reported a particularly suboptimal quarter in october. while tesla did reiterate its full year production forecast and eli muss holik a lot to say about future initiatives like amount i and the cybertruck musk made it clear that high interest rates are making it much more expensive for people to buy cars and that's hitting electrics especially hard. the good news for musk and tesla is that loan rates have retreated somewhat since mid october. but they're still pretty darn high and they shot up as if on cue for this piece

gm reported excellent quarterly results. but management withdrew their full-year forecast never good the strength of gm was powered by the old-fashioned old school internal combustion engine business especially trucks and suvs unfortunately that's a problem because gm has basically bet its future on electric vehicles. now they're suddenly dialing back those investments but the ceo mary barra acknowledged if they expand production too much they won't be able to control pricing. shortly after we heard from ford and that was truly a disappointing quarter. [ boos ] we own ford for the charitable trust although we put it in the penalty box after these results. these guys posted a top and bottom line miss thanks in large part to high costs from warranties and like gm they pulled their full-year guidance. bottom line gm ford broke out the results of its electric vehicle division giving us a clear picture of the business. it isn't pretty. ford blue, their traditional internal combustion segment was the only one to beat estimates

the street was looking for 2.7 billion. pricing's going against them very problematic because ford as already losing money on every one of its electric vehicles that's just not acceptable this week we got even more electric vehicle weakness. we heard from louis id, fisker and rivian their stocks are down for the week it's only thursday lucid just cut its production guidance make sense because last week they told us they were slashing prices for the expensive electric sedans. clearly demand's evaporating for these things fisker delayed its report until next week because they just hired a new accountant rivian reported a solid set of numbers even increasing its production forecast but most analysts still cut their price targets in large part because they were way too high coming into the quarter so what the heck do we do with

these automakers now that they've bet so much money on products that are a lot less popular than anyone expected first off, you do have my blessing to simply not own any of these right now historically speaking it's very hard to own anything until the fed starts cutting interest rates. throw in the electric vehicle debacle and you've got every reason to steer clear of every one of these stocks. but if you want auto poerksz maybe because you see rates k. coming down faster than expected you should do one with less electric exposure. ford and gm even as they agreed to a new expensive contract with the auto workers union that i think is going to hurt them on labor costs. i don't know about their ev problems the uaw deal gives ford and gm an excuse to back away or at least scale back their electric vehicle commitment time frame because the already ridiculous cost of making these things just got even higher. in fact, ford and gm have already been saying they're dialing back their electric

expansion plans. we need them to do that. these two have bet -- they have by far the best old-fashioned internal combustion businesses when it comes to profitability which they should get more credit for now that the ev fever has broken plus their stocks are extremely cheap on next year's earnings estimates although often that's a sign estimates are just way too high we put forward in the penalty box in the charitable trust after the last quarter we're not ready to give up on it yet. we think it's too inexpensive. we hope it's not a value check gm's basically in the same bucket although they did boater this earnings season than ford did. as for the pure play electric vehicles the only one i feel comfortable recommending is tesla. that's only because i believe in elon musk's ability to create value over the long haul i trust musk but you don't forget about tesla for the moment i don't know this one's weighing on me every minute because i want to come out and say buy tesla, i really do, but i just see things that are just not adding up in the end the electric vehicle market looked very attractive when tesla was the only major player and there were never

enough of these cars to go around but now that everybody's making them supply has started to outstrip demand which is terrible for pricing aside from tesla i think you want to minimize your exposure to the pure plays. bottom line, if you want to invest in the automakers right now stick to the ones with the best i.c.e., intern combustion energy business. we're talking about ford and gm. even then, though, there's absolutely no hurry to buy them because we're in the wrong part of the business cycle for anything auto-related. so take your time and wait for more weakness before you pull the trigger. and tesla, it's always going to be great it's just that it's greater at some points than it is in others like right now marty in new york. marty. >> caller: hey, jim, great show. >> thank you, marty. >> caller: after occidental's earnings calls this week what are your short-term and long-term thoughts on the stock? >> well, i don't really care for it it's been bid up by warren buffett, frankly i think it would be lower if it weren't for mr. buffett's

buying i very much prefer coterra which had a much better quarter and i think that's the one you want. i think that's the one you should buy we own that for the charitable trust. george in texas. george >> caller: yes, sir. how are you doing, jim >> i don't know, george. i'm talking about these autos and i'm just sick that they're doing so poorly. just sick of it. i want them to do well how about you? what are you up to >> caller: hanging in ing in te i'm in miami i landed in texas doing protection detail. i watch you all the time devon energy they pay a dividend about 6 1/2% i was wondering if it's something i should sink more money into now -- >> at this point i actually am not going to fight devon it's down almost 30% it's not like rick moncrief has lost his mind. they do have a good yield. but remember, i am not a big fan of the oil companies here. the direction of the commodity is down and therefore the stocks are too. now, if you want to invest in the automakers you need to stick with the ones that are still reliant on internal combustion engines, i.c.e and even then i think you have

plenty of time before you pull the trigger. and these names, remember, ford is -- it's in the penalty box big-time for the charitable trust. and i just saywoe is me becaus i just did not want this to happen and jim farley knows he's the ceo much more "mad money" ahead. whether it's the ground floor or the freeway or 30,000 feet in the sky, industrial player i.r.itt has a kind of boring technology but it does power it all. the company just delivered a solid quarter but what is this saying about the overall economy? i've got the ceo on a very inexpensive stock. then is it time to look beyond the magnificent seven? don't make a move beyond hearing my take. all your calls rapid-fire in tonight's edition of "lightning round. so stay with cramer! - i got the cabin for three days. it's gonna be sweet! what? i'm 12 hours short.

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we need to talk about one of the best-performing stocks that you may never have heard of. it's called itt. the century-old industrial company that makes engineering components for all sorts of end markets like transportation, aerospace, defense they've got exposure to some big things, think decarbonization, the rise of reshoring as businesses move their manufacturing back to the united states or our neighbors okay, so maybe it doesn't sound that sexy. the stock's more than doubled since the current ceo lucas savi took over since the beginning of 2019 and that includes a 24% gain year to date that's nearly double what you would have gotten with the s&p 500. sells for just 17 times next year's earnings and the company just announced a $1 billion buyback. may not seem big but it represents 1/8 of the share cap. let's take a closer look with lucas savi president and ceo of itt to learn more about the company. welcome to "mad money. >> thank you, jim. thank you for having itt here.

>> of course now we know the storied history but i think this is the first time -- just give the people a little knowledge about some of the verticals. industrial processes may not mean enough. everyone knows auto. but go ahead >> sure. itt is a manufacturing and engineering company. we make components for harsh environments in different sectors. so we are talking about automotive we make brake pads you know, the brake pads that keep you safe while you're driving on the i-95. chances are our itt bake pads. or pumps and valves. when you're talking the general industrial, mining you know, we make pumps and valves for this industry and then connectors. connectors for many of the airplanes that we're flying in today. we have leading position in many of the markets we're operating in thanks to the differentiation we have from the competition this is itt. >> let's talk about how you reduce emissions in oil and gas, talk about decarbonization because we think this teem is

here to stay >> sure. our people are working hard and diligently to help the world and our customers to reduce their greenhouse emissions how do we do it? three things we are involved in lng we are involved in many of the projects around the world -- >> liquefied natural gas >> lng second is we are helping our customers that are oil and gas to reduce and eliminate flaring so they do not burn -- >> that's you. >> that's us >> because when we first started going in 2011 we went to the bock and they were flaying everywhere you can see it from up in space. and it was just terrible for the environment. >> it's awful. so our pumps, multiface pump technology, they can pump liquid gas together and therefore they can pump distribution where they can recover the gas rather than burning there at the well. and then last is carbon capture. our pumps, the pumps i was talking to you about, they're going to be used in the world's

largest decarbonization plant in the world in australia where they're producing 16 million tons of lng on a yearly basis and our pumps will push the co2 two miles down the ground. >> so talking about this acquisition, and i know you've measured these things versus your stock buying something versus buying your stock because you're such a good stuart of your capital. spanahoy right exactly in the middle of making everything cleaner. fuel and energy pumps, tank control. these are things that are causing a lot of problems in the environment. >> sure. your danish is very good this is a danish company based in denmark -- >> i had good danish from my partner dylan reebok >> they're making progenic pumps. roughly 21% ebidta it's a really good company it's run very well they perform for their customer, they perform financially when they have leading position in three of the four verticals

they're operating in, lng, lpg, ammonia. they're operating in attractive market this market will be growing for the next 10 and 20 years and the management team is second to none spend one day and a half with them in denmark and the depth of knowledge they have of their pro products, of their markets, of their customer is a great fit for itt. >> people are going to say ammonia, isn't ammonia the hottest single thing going on in the united states right now? >> ammonia will be the way that hydrogen will be transported in the future >> right >> now, we will not see in the next five years, but next 10 or 20 years that will be a big thing. >> well, that's the way you have to think that's the way itt has always thought. when we go to your website we see defense, we see connectors for, again, rugged harsh environment for defense. >> defense is another market that is growing and is going to be a tailwind for us for unfortunate reason we see defense keep on growing because of the geopolitical environment.

this is one of the attractive market that we're operating in >> and finally, when you buy so much stock back, one of the things that i think why you should be buying is for the same reason that we're here right now. if everyone knew your end markets and everyone understood your growth, you would never be able to buy your stock for this low. but it seems like you recognize the bargain that your own stock is >> sure. so what we have, we put also together a program, a $1 billion of share repurchase that's been approved by the board recently and that will give us flexibility in terms of capital deployment but when you look at capital deployment, priority one is organic investment these are the best return. this is where the money will go first. second is m&a. we developed, we build a great team that has worked hard and diligently to create a good pipeline of opportunity. we have the rich pipeline of opportunities in m&a m&a you're not in control of it. so the share repurchases will give us the flexibility. >> look, i think it's terrific when we heard you wanted to come

on we were excited i know the great history of your company and i think the things you're doing, they may not be -- look, it may not be lights out but as far as i'm concerned it's money making, that's what we care about thaws this is "mad money. that's lucas savi, president and ceo of itt thanks for coming on i appreciate it. "mad money's" back after the break. >> announcer: coming up, pop open those umbrellas and tee up your toughest questions. cramer takes on all comers in the "lightning round." next

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money" it is a long-standing tradition to celebrate veterans' day and honor the women and men who have served our great nation whether we're here at the new york stock exchange or have our boots on the ground at west point or the air force academy, we are grateful for the sacrifices you make to keep us safe so tonight we have a special veterans' day edition of the "lightning round," to introduce you to some irm people who have served or are currently serving in the u.s. military and now it is time it is time for the "lightning round" on cramer's "mad money. sell sell sell play until you hear this sound. are you ready skee-daddy time for the "lightning round" on cramer's "mad money. tim in texas tim. >> caller: hey, how are you doing, jim thanks for all you do for the veterans bro broadcom been impressed, haven't looked back broadcom >> i think, tim, we're going to see that deal be done. i think they're going to be allowed to buy vmware. the stock is going to shoot up from here. which is why we own it for the club at a very good level.

buy. michael in massachusetts michael. >> caller: thanks for taking my phone call i'm a member of your investment club and i like to say you're a better person than my instructor was. capital one has a target price of 195 on it today closed at 156. it also looks like frank shootman has sold almost 50,000 shares this year i wish he was buying what's your thoughts, jim? >> i am concerned that a company called data bricks that we had earlier this week may have a better engine, so to speak, than snowflake. it's the first time i've had any doubt about snowflake. i thought -- which was private, was very, very impressive. let's go to i can moo'll in maine. michael. >> caller: bing bong, jim. is it over for aher? >> i don't want to say it's necessarily over because i like the testing business but if i'm going to be in testing i want to go in letter a,aj lant.

let's go to buck in virginia >> caller: cramer, thanks so much for taking my call. >> thank you for everything you do how can i help >> caller: for over a decade you've educated, taught and entertained and now i'm reaping the benefits as a retiree. >> thank you >> caller: you're welcome. my question's about autozone all-time high today and it's finished 10 out of the last 11 sessions in the green. with so many new cars on the road compared to previous years do you anticipate any headwinds? >> i think that autozone is going to do fabulously the average car on the road is still very, very old and more importantly this company is incredibly well run with a buyback that is the biggest in the new york stock exchange. i want you to buy it and every time it dips i want you to buy more just one share or five shares, that's okay. it will add up everett in connecticut everett. >> caller: hey thanks for the invitation for the show i called you a couple times. the most memorable time is when i met you and your wonderful wife on set at a veteran day show a few years ago in new

jersey >> i miss those days so much i miss them. i miss pop coming. absolutely we have to how can i help >> caller: i thought that was the phone call but hey, all right happy holiday to you and yours ticker mvo novo nordisk >> novo nordisk is very good i still prefer lilly particularly after the tumble lilly took today i think they've got some good news coming up this weekend with the american heart association i want you to be owning either one of those and thank you. i miss those shows very much daniel in california daniel >> caller: hey, jim, thanks for having me on i bought this stock during the 2020 covid lows. i'm currently up over 300% but over the past year the stock has been on a roller coaster ride. should i cash out or let it ride my stock is go-go. >> i would cash out. i just don't see it. that was a good covid stock. it's not anymore daniel, i just wish i could give you something positive i don't have anything good about that let's go to nicholas in

wisconsin. nicholas >> caller: hey, jim, how are you? >> i am good, nicholas how about you? what's going on? >> caller: i'm doing well. my question is about dreamfinders homes last week during their third quarter report they reported they grew revenue 14% and pretax profits 27%. i'm wondering with mortgage rates up around 8% and staying there do you think they'll have continued success or are they going to tailor off and start to sink >> i really like it. i think you've got a good one there and i would stay long it and that, ladies and gentlemen, and thank you for your service srkt is the conclusion of the "lightning round"! >> announcer: coming up, tech may be the belle of the ball, but don't forget to work the room put diversification on your dance card when "mad money" returns

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it's not just that tech is so good. it's that so many other sectors are so bad that's the crux of this market regular viewers know i'm a big believer in diversification. i call it's only free lunch in the business because if you keep all of your eggs in one basket eventually your portfolio is going to get scrambled. but in all my years managing

money professionally, 42 in all, it's never been this difficult to be diversified because there are so few sectors that are consistently working beyond tech let's tick them down so you know what i mean. first, for most of the entirety of my career i've had a list of go-to drug stocks. merck and bristol-myers were always fixtures, one or the other. johnson & johnson just a magnificent company. abbvie, good yield pfizer was a gimme and of course eli lilly which has an excellent stable of drugs and a fantastic pipeline but merck has been incorrectly written off as a one trick anti-cancer with keytruda, even if it's an amazing drug, not mattering. bristol-myers lacks a future blockbuster. abbvie's trying to plug the hole of humora that immunosuppressant that's losing its exclusivity. pfizer with the money it made during covid but nothing's moving the needle and j&j has huge liability aboutfrom those talc lawsuits. it's getting really suboptimal

at jng because of the mounting cost of cases. second how about the banks the stocks all trade together. that's just poisonous. said it earlier to a caller about huntington bank shares r. shairz retail has just been consistently four stocks costco, tjx warmt and yes, amazon which is more of a tech play everything else is horrendous. like eli lilly in drugs you can't stay away from those three winners in amazon. anything else and ouch autos led by the strike. transports still too high. labor costs playing havoc. food stocks. these new anti-obesity drugs have wrecked the group all of them can't be touch ped entertainment. i've never seen a group more challenged just to keep its head above water. utilities rising interest rate environment like dominion i moengsed earlier nothing's worse because these dividend stocks compete directly with bonds if rates peak that's a different story but maybe they haven't oil and gas monumental collapse. maybe the industrials hit or miss even the ones with energy efficiency infrastructure was supposed to

last but that's being challenged too. i think the group can come back as all the government spending kicks in sure hasn't been working now no one wants to wait for it housing not with these mortgage rates. on and on there's just not much that's safe. and when you put together a basket of unsafe sectors, well, that doesn't make it into a safe portfolio. so what do you do? for the investing club we've had to search long and hard for the one stock that will work in each sector other than technology and it ain't easy. sure we've leaned on lilly, held on to costco, stuck with humana, liked coterra because it's got much more exposure to natural gas than oil and that's held up look, i still believe in diversification but i also understand why people cling to the magnificent seven. these are stocks can w. strong revenue growth, excellent profits and unfathomably good balance sheets almost as if they're the only safe havens, the nation states, even as they're all expensive and many of them tend to be very volatile i'm not saying you should end diversification but you do need to accept there are moments where it does hurt you we stick with it anyway because it offsets the risk from being too concentrated in tech which

can crush you when things go wrong. we don't go all in on magnificent seven because the mafrkt's always changing and when tech rolls over theetz stocks get killed. remember that just happened in 2022 who knows if it will happen again? i like to say there's always a bull market somewhere and i promise to try to find it for yo jerome powell letting loose. >> a member of the fed family, so my assigned topic is u.s. monetary policy in the current global inflation episodes. i'll begin by briefly addressing the u.s. outlook. >> not necessarily letting loose. protesters make a ruckus, an even bigger one for the market a new paradigm, the actors strike is over, but the transformation just