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tv   Mad Money  CNBC  September 13, 2024 6:00pm-7:00pm EDT

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crowdstrike, given how many pulled back. my indication to buy. >> weighted. >> all right carter >> gold, silver precious metals and mining stocks associated with them. thank you for watching "fast money. see you back here monday at 5:00 for more >> my mission is simple to make you money. i am here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. mad money starts now. >> i am kramer. i am just trying to make you a little money. my job is not just entertain but educate and teach you, at last, the economy slowed enough that the fed could take his
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foot off the brakes and step on the gas. that is why we are starting our game plan in the middle of next week, 25 or 50 basis points. we do not typically have a lot of drama in this business, this one is a nailbiter. we do not know how big the rate cut will be, we just know they will cut today's rally with the dow gaining 297 point, nasdaq climbed 4.65%, capping off the best week of the year for both the latter, the s&p announced that suggest the fed michael 50. i know this that housing -related names went off today, to use a little fantasy football lingo, they stored reasonably in something huge from jj paola company. i still find myself needing a quarter-point. it is not that we don't need a half-point cut him at the economy is slowing quickly for the lower income.
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i always believe the fed should be measured when it cuts rates. at this stage the biggest risk is inflation might flare up again if you cut too much, a double rate cut signals that something might be very wrong with the economy. something we don't know about, something working. going 50 could inspire panic. there is no reason for the fed to take that chance with it could hit us with a series of 25 basis point cuts. that neither reignite deflation or cause panic. if the housing rally continues, stocks run the risk of being too hot to handle for a mere 25 basis point cut and we will get a selloff in response in those stocks. housing caught fire because a reading from cma group fed watch tool tracks interest rate indicates that traders are pricing in a much higher probability of a double rate cut currently 45%, that is
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higher than it was a week ago. these people will be disappointed if the fed decides to use more measures, these traders could be your enemy wednesday at 2:00 p.m. as they dump what they bought incorrectly. that is what happens, that's what traders do, they let the stocks go. there are other important events last week next week, we will be broadcasting from san francisco all week, making our annual pilgrimage for salesforce conference. it will be at a couple days. i will be at 3/4 on tuesday, let's not get ahead of ourselves , on monday regeneron is presenting and holding a analyst meeting at the european society for medical oncology meeting where they will showcase their portfolio that is supposed to treat advanced melanoma and small so lung cancer.
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this is still focused on the company's obesity drug candidate. when i was at j.p. morgan healthcare conference, i pulled up with regeneron ceo, he is a old friend of the show. he was confident that his company might have a weight loss drug that only attacks, not muscle. that is important for those who x-rays atrophy. i think this drug would be an instant success if it could get through the clinical trials. right now it is too early to think anything is possible. tuesday we get retail sales, normally i would not sweat the program but the number represents the best gauge of consumer spending and 2/3 of our economy runs on consumer spending. i think it will be a week number, you have a rate cut cycle you have two adults and a leap of faith, you have to take it as gospel that 25 or 50 is going to be related to structure no matter what
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ferguson distributes all sorts of products that go into construction plumbing, heating, ventilation, this is what you want when the feds are about to start easing. we do not just get the fed's decision on wednesday we also get general mills. mills offloaded their yogurt division for 2.1 billion, when you look at the past you have snacks and pet food franchise it is very strong, i think you're getting a bargain. wall street tends to abandon the package food place, it grows too slowly for traders. thursday, there is a cornucopia of earnings starting with with the sales of olive garden. after the sales of sweet green and, i for those casual chains even up here cracker barrel also important, talk about a work in progress. the ceo is trying to turn this
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ship around and it will not be easy. you have to keep the current clientele please and lure in new people. i think she could get it right. i just do not know if she can get it right this fast. again, i call this a work in progress. results from fedex and lennar, two important companies for the economy. fedex is going through a gigantic turnaround led by the ceo who is cutting costs and growing revenue and he is pulling it off. a classic homebuilder, hearing from them a day after the fed meeting could be a lightning. i think lennar will tell a terrific story. if we get a 50 basis point cut the stock might be a terrific place to be. when i look at next week i can only conclude that we are finally at the moment that we have been waiting for. let me give you the bottom line, if we selloff a 25 basis point rate cut, remember this phenomena week, there will be plenty more like it as the easing process continues and
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progresses. there will be there as well. as long as you are no longer fighting the fed, those faces can be bought and not sold. matt. >> hey, jim. >> what is happening? >> i want you to know that me and my eight-year-old daughter watch your show every night, i have been watching since you came on over 20 years ago. >> issues swapping out and going for amazon? >> she still has some nvidia and she loves at&t. >> really? she is a contrary player. the kid has horse sense the stock is going up, it is going up without me but tell your daughter she is spot on. i saw the interview with the ceo of at&t she is right for you and i congratulate her for a good call what is your stock?
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>> i am long on slumber j in my retirement and i'm getting killed. i wonder if i should hold onto it. >> matt this is tough, slb is amazing, i interviewed for them for a job and they told me to get the out i did not know anything and i took that as gospel. i think slb is expensive. let's go to stephen. >> jimmy joe. >> i hope you're doing well. >> getting ready for a big wedding i cannot wait. >> awesome. >> i have questions about ppl, stocks up 50%, tpl is primarily a oil and gas royalty company but the water business is growing at about a quarter of the company income. should they keep that with the business or spit it out? >> why do i love this show after all the years?
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here is stephen telling me about a stock tpl that i did not know enough about an this water business and i'm going to sit down with her chief scientist and get to the bottom of whether tpl is worth buying. i had no idea about the water business thank you very much first teaching me. i like being taught. after rate cut, bear faces can be buying opportunities not selling. up tonight, has former ceo put her best foot forward at footlocker? i sat down with the top brass herself at the company's new store to find out. adobe stock is been doing so hot. are they illustrating they could stage a turnaround? i will give you my take. we have our monthly investing club. we have so many questions from club members and not enough time to take them. so i am digging into them tonight. stay with cramer .
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why choose a mobile network built for places you'll probably never be... ...instead of for where you are most of the time? xfinity mobile was designed for where you need it most. xfinity internet customers, ask how to get a free 5g phone and a second unlimited line free for a year. when footlocker reported two weeks ago it delivered what i thought was a great order, yet the stock double 10% and it kept sinking until it finally found its footing a few days ago. at the time i said the stars do not believe the forecast. if you think footlocker can make the numbers, then you are getting one incredible buying opportunity. can they pull off this
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comeback? we spoke with footlocker turnaround artist ceo, mary dylan, at their newly reopened and reimagined location. it features all new tech and personalization and it is special to this concept take a look. >> you are eimagining everything. we are in the home court of a new store. what you got? >> thank you for being here. we are celebrating the 50th anniversary of footlocker this week. if you don't mind, i want to show you what i am wearing, a special 50th anniversary air force one made by nikki. as the kids like to say, very demure and mindful. we are in our 34th store here in midtown manhattan and it is one of our reimagined storesmith this is the blueprint for where we are taking footlocker. we are reimagining our stores, brand partner expenses, digital
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conferences and connection with the customer. we are also in the home court which is all things basketball and this is designed in conjunction with our artners at nike and jordan brand. this is all about bringing things on court and off court the lifestyle of basketball together in an immersive shopping experience. >> i think it is important for people to know you have solidified relationship with nike to the point that you are getting the best. some felt footlocker was not getting it. this to me is really the most important stuff nike has to offer. >> listen, i am excited where we are headed with our brand partners and nike and jordan are important to in fact we have seen new kobe's on the shelf. for us it is about building together, to drive category growth. we are gaining a market share and i am proud of that. we are also expanding the sneaker culture. people come and get sneakers for a lot of reasons and this store makes it easier to find sneakers.
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>> people do not realize and i now understand this, this added a category, even for lower income that is prioritized and why is that? >> that's how i like to think about it, this is a category for everybody. i believe we can expand the culture, the more people that can see the ways that they can bring it into your lives. for our customer, we tend to view towards younger, multicultural customer by definition, this is a category that they prioritize just like other people might prioritize beauty, we prioritize this category. we have the right products at the right time and people come out and spend, back to school, we came in strong, holidays are on the horizon, we came out of the second quarter with global comps positive plus, average unit retail. >> let's talk about global comps, you are now in expansion mode in india you are getting out of stores that were not
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necessarily working. the lace up plan that you explained to me when you first started has come to fruition. sin yes. the strategies are working. really is about simple find to invest and grow. the strategies are around bringing more people to the sneaker culture, we call it powering up the portfolio. really optimizing our footprint, everything on where we operate and the look and feel for our customers, becoming a much stronger on the channel player and deepening our relationship with customers through things like our global speakers platform and our loyalty program. >> let's talk about the loyalty program him this is new and different. the lift, 24% is fantastic. this is the beginning. what can this mean for your numbers. >> we already had a loyalty program and it was focused a lot on access to launch, that is only part of what we do.
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what we have done is relaunched fls to continue to have access to lodge and make it more fun, but create more of a traditional program if you spend with us, you get points for a future cash discount. last quarter loyalty penetration was 24%, it could get to 50% in a couple of years and way higher. the power of a loyalty program works in many levels. one, we want our customers to share their hard earned dollars with us, but it gives us more ability to communicate with customers over time in a personalized way. that is part of our plan how we get to the profitability that we are aiming towards in 2028, less reliance on promotions and more this kind of marketing. >> let's talk about the greatness of your previous loyalty program that you invented altar. i always thought that ulta was the great is for loyalty. >> footlocker sinking from all
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the best of the best. we know what customers are looking for, keep it simple, do not over complicate it, make it easy to sign up and easy to access loyalty points it also, add bells and whistles relevant to your customers. for us it is things like getting special access to an nba game, maybe learn how to apply points to a hot product. those are the things that we will do, we are launching our new mobile app later this year and that will make it better. our customers will have easier access to everything in their loyalty program and stripers will have easier access and technology to help the store experience. >> what do you do in terms of getting the best help. i have felt previously coming here i would have to wait when i would go it. obviously it is competitive, i don't want to wait at footlocker. are you staffed right now? >> savvy: our stripers, as we call them are the best in the industry. that is what excited me about coming to run footlocker.
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i love retail because we create jobs and pportunities, this company is especially special. sometimes we are busy but we are trying to make sure that our stripers have the tools, technology and training they left more than really to help our customers and teach them what is new. in the store we can customize the sneakers, we have a area called the ticket club, that is about making the try on experience fun. when our customers get a chance to interact with our stripers who are experts, that gets them excited and i think it helps us. >> are they excited about the fact that you have new balance, hookah, a6, you have brooks and crocs. this is a very diverse group of shoes that people have. >> we talk about expanding the culture which means people want choices. they use sneakers for a lot of occasions and even seasonal products like ugg, you mentioned crock, timberland, i
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think stripers love to represent the best of all things in the category. we try to help them get expert in every single brand that we sell. one of the things in this store and our new stores, we have technology that will help you figure out the right shoe size. i know it does not sound like rocket science but it can be. we make that a fun experience. >> you have good data on people to make it so you are not coming in the first time over and over. >> we are trying to help folks. >> let's talk numbers, comp sales up 6%, gross margins you're getting expansion, inventory is down, these are all of the bones of a term. are you happy where you are? i know that it is pushed out a little bit. are you on time? >> i feel really good coming out of the second quarter global positive concept up 2.6%. this is a big complex business
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and that was a good marker as well as expanding gross margin. what is happening is things are really starting to come together all at once. brand partnerships are strong so we have access to the best of the best. toys are cleaner so we can make sure the best of the best is in front of customers. investment in the nba, our platform called heart of sneakers, loyalty launching, stores being refreshed, we will have two thirds of our footlocker stores refreshed by the end of 2025. all of those things come together to support the momentum but we have more to come. the store refreshes are scaling, the mobile app is still coming. when we see customers come out and prioritize the category and spend back to school and holiday, we think we are on the move and i am proud of the progress we are making. >> we are in high single digits, apparel is down. >> that is a tougher category,
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it is a smaller category. we think about ourselves through the lens of sneakers. right now we think we are in a good position from a inventory perspective. we are getting more focus on a couple things, one is key items and depth, connecting them to sneakers and then put more prioritization on a private label brands both at footlocker and -- >> you have 40 years in retail, you did not have to come back. how about a quick autobiography retrospective where you are in the retail and where our country is. >> first of all, brick-and mortar will never be that. you have to invest in your stores to make it exciting for your customers. for certain categories like sneakers, they have to be great in-store and online because that is how people want to shop. i have been in the business world for 40 years in retail for the latter part the it i started working when i was 15, like a lot of ceos i know are
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self-made. part of my journey and putting myself through college is working in retail stores and waitressing. to be i have a lot of heart for the responsibility we have to create jobs and careers. when i travel to stores we spent time talking to store managers, stripers and asking what is working and what is not. they know best. that is interesting. >> instead of telling them what they should know, they tell you. i got to tell you, mary, you are a remarkable person for doing what you are doing. there is a lot of mouthing of what people do. you have promoted people and you have created careers and taken advantage and helping others. it is a gift. thank you. semi coming up, the perfect marriage of nimble tech and artful imagination but marriage
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is hard. cramer checks in on adobe , next.
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what the heck happened to the stock of adobe? it dominates digital media and marketing and e-commerce. their guidance for the current quarter was a tad light, so the
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stock got eviscerated down 8.5%. i was looking forward to these numbers from adobe. they started flogging the stock early, there were four price target hikes ahead of the quarter, wells fargo added it to its signature pics list. was so many analysts get on the stock before the quarter to either know something you don't, something good, or it is a group situation where the got way ahead of themselves. they paired it with cautious guidance for the current quarter and not caused shareholders to flee. the stock got crushed falling from 586 to 536 and change. this is the best week of the year and a great tech take. if you are looking at the quarter you are giving a buying opportunity. my hat is off to adobe. first up, the quarter was very strong. adobe gave us help top and bottom line the with no areas of weakness.
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when you look at the metrics and wall street watches, they were strong. adobe's digital media angle is current revenue but it came in way ahead of expectations, that is the number i cared about. second, even though the guidance was off, it was not that soft. there talking 5.5 to 5.55 billion in portal total revenue. they can earn $4.53 to $4.68. analysts see this is adobe's fiscal third quarter, when they reported in june, investors had everything they needed to extrapolate with the numbers to look like in the current quarter, we had the first half results, we had third-quarter guidance and the forecast. i think this is driving more than selling. the new fourth fiscal quarter guidance does seem week versus what adobe is applying implying they could do the last time they reported. basically it accelerated
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bidding to the end of the year, now with third-quarter guidance it shows it will stay steady or decelerate very sudden hence, the plummeting stock. they expect to take more of a hit from currency fluctuations which is beyond control. at the same time a few major closed early, this would have been fourth-quarter business but it came in ahead of schedule. they said they are wrapping their go to market spent which is really what people in software say when they say sales and marketing costs they probably need to spend more innovation. adobe has always had a lower cost express version for individuals. they have launched new versions for students, teams and enterprise customers now they have to market those. how much should you care about adobe's light fourth-quarter guidance? honestly, it is tough to say.
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-- they made it clear that the album for the current quarter is being dragged down. at this point who cares about the current quarter. more important question is what this 2025 look like? it would have been easier to be more optimistic about 2025 if adobe's business was accelerating at the end of the year as we previously thought, now it seems like it is decelerating. >> if you want to be bullish with adobe, the great fear is some of these competitive a.i. technologies are starting to sell their products. even those with a ifex analogy. we will not be able to discern that anytime soon, probably not until december and we get our first glance of the 2025 fiscal year. until then, you may have to put up with volatility in the stock. overall stick with adobe which has done so well for so long. i think the company has competitive a.i. , there is competition and that
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is a problem. they have the best elite suite of a.i. tools, they are amazing. the adobe ceo stopped by the closing bell and he said we are all looking forward to the fed cutting interest rates, for the election it will be the rearview mirror. for adobe what matters is they have the right products and those are starting to gain real traction. we went through a popular, with the customer data platform the firefly a.i. service that lets you automate content production, that thing is lightning. adobe express and the budget version of the graphic design platform is aimed at consumers in a professional street we have seen this movie before, the stock has periodic post earning selloffs and more often than not those have been excellent buying opportunities. we saw when the stock sold off this time last year because they postpone rolling out their forecast by two months. we saw it earlier when the stock
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sold off of fears of competition including fears about openai. the bottom line, i am betting it happens again. that is why i think adobe is worth buying on the way down. keep in mind the next few months can be extremely. no need to jump in with both feet. after multiple years of success they have earned the benefit of the doubt. let's go to chris in florida. chris. >> jimmy, chris from jupiter florida. >> that lost last night. >> how can i help? >> here we go. i am -- currently i am overweight since the parabolic move to new hires. i have two choices one, stay overweight service now understanding that bill
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mcdermott is the star and will continue to grow revenue north of 20%, or, by more salesforce, balance out my position and move on. >> i am inclined to tell you to hold both don't buy. i do not want you to sell service now. i think they are having a terrific year and quarter. the stock is a very high but i think it will blow away the estimates. salesforce, i have to go out there and take the measure of the place. i was talking to a bunch of people about how i do not feel certain enough to say the right thing about salesforce until i see the whites of their eyes. that is next week's business report. i think the team at adobe has earned the benefit and that's why it might be worth buying. we will have a closer look at what we do for our club's monthly meeting when i take your questions. i do not love recommending stocks when they are soaring,
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sometimes you have no choice. i will explain why i feeling great about one company whose shares are going through the roof right now in the ninth edition of. stay with cramer. 's tober 11th.
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any sub? yup! for a limited time. get 20% off when you order in app. hurry and get this deal before it's gone! yesterday we held our investment club monthly meeting. we walked through the thought process and how we make decisions for the portfolio. we discussed current holdings in the we take questions from club members read my favorite part of the meeting is taking your questions. since we did not have time to go through all of them, i will
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give you an inside look at what we do for the club tonight. first up, a question from pat in california who asked, any ideas why elf is on the shelf >> announcer: that is then uploaded when away, international expenses going great what's going on? a couple things, elf is a heavy stock, secondly you have to understand estee lauder goes down every single day and ulta has been very weak . the cosmetic group is during doing terribly, elf is the best house in a neighborhood that is not the best to be. let's go to nick, how will equities react to a 50 basis point versus 25. i am on the 50 camp. the 50 camp now because of what happened this day and this week we are now set up for disappointment if we get only 25. just be aware, we don't want to get too ahead of ourselves and we may want to take stuff off ahead of the meeting because we are now, once again overbought. next up we are going to david
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in connecticut who asked, what do you think of shark ninja as a lower interest rate in fast food? the thinking being as people update their homes they will want new devices. i have to tell you, i don't think you need lower rates, this thing is electric it i look at the stock every day, why didn't we just buy the stock ? it is a good investment. it has a lot of interesting, like an ice cream maker, things that nobody else has. i don't care so much about rates, i care about ingenuity. next up, i own a stock that does not pay dividends, how does the stock buyback add value? it gives you fewer shares so we divided you get a larger earnings-per-share. it is actually returning money directly to you. now let's take a question from greg in maryland. he asked all those who redeem themselves from this year, how will it do going forward as they prepare for a.i ? what are the key indicators
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that we should be looking at? we should have discussed this question last week. it has been a markable run, it is the run i wanted and i talked yesterday on the club call how i got impatient because the company missed numbers and then they blow the numbers away. now it has a big forecast for the out years, not right now or the year after. it looks like a lot of the good news is in the stock other analyst get on board because too many people in negative. next, i am in the healthcare sector the primary beneficiaries of a.i. is a company that could be one of the biggest runners? >> ge healthcare had a big stock offering from ge, it knocked stocked out and they are my favorite a.i. when it comes to healthcare. geh the is the best way to be able to invest when it comes to a.i. and healthcare devices. i want to thank all of our wonderful viewers. make sure you join the club ahead of next month's meeting at cnbc.com/ investing.
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we will still do our videos. mad money is back after the break. >> coming up, hit us with your best shot and electrify fast fire lightning round is next. okay, team! oh, thank you so much i couldn't have done it without you. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot
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♪♪ citi's industry leading global payments solutions help their clients move money around the world seamlessly in over 180 countries... and help a partner like the world food programme as they provide more than food to people in need. together, citi and the world food programme empower families across the globe. ♪♪ it is time to start the lightning round. then the lightning round is on. are you ready let's start with
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kevin in illinois. kevin. >> i am a huge fan. my wife is a bigger fan anytime you show is on it is the talk in our house. >> that makes sense. why should you talk over me like i am talking over you. what was the stock x >> motorola solutions. >> that is a chicago-based company that is incredibly good. this is a company that does two- way radios, they have barcodes, a lot of government infrastructure and it coins money i would welcome greg on the show anytime because he is a remarkable executive. thank you for the call. nathan in pennsylvania. nathan. >> hey, jim, great to talk to you again. it has been a while. i just want to say i look forward to you on the morning show, you guys are fun and informative and it is a shame that you have not -- >> i am glad you like that
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show. that show was a blast. i think we do a lot of good stuff. how can i help you? >> what do you think of the stock of at hi? >> that's an investment management company that i do not know well. we will do a piece on investment management companies to find why they so low levels with the stock market at an all- time high. that makes no sense. ronnie, in massachusetts. >> hello, mr. cramer. how are you? >> i am good. how are you? >> good. first of all i would like to say , and thank you for your generosity in teaching us all how to work the stock market. >> is not generosity, it's something i love to do. take you for your time. what do you got? >> two steel companies out of
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brazil one is ggp and the other is that's like >> that is more of a minerals company, ggp is a company i do not care for, if you want still do nucor, valet is a interesting company. thank you for the kind words. mary in idaho. >> good afternoon. happy friday the 13th and thank god it is friday. >> i agree with everyone of those. how can i help? >> i am a loyal listener and someone who is working on getting funds together so i can be a member of your club. i would like to take a moment, if i may, to thank you for sharing your knowledge, expertise and wisdom. you do a magnificent job educating the rest of us about the ins and outs of investing in a market that is frequently complicated and confusing. you do it in a entertaining and
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positive way. >> thank you. that is the way i want to do it. if i'm known for that, that is terrific it i'm known for working 100 hours and am proud of that. i am proud of what you said. thank you. >> in my opinion i believe you are a very, very valuable resource for any investor whether it is new or someone who has been in and out for a long time. >> you are way too kind. i hope i live up to you, and the staff makes me look at every day. i'm waving at the staff and they are doing some sort of multishot. how can we help? >> i would like your advice on, for almost 3 years and i have done extremely well with it until a month or so ago when a law firm launched an inquiry against the company for security related infractions. now it has become an
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investigation and shareholders who feel they may have been affected are encouraged to call the law office. ever since the investigation started, the stock has suffered quite a downturn. i do not know if the system is serious like, or something relatively minor. regardless, it seems to me that the stock with its tail between his legs and ran the other direction. i would like to take your advice on what i should do with this, whether i should sell -- >> first, i'm going to ease your mind, they file lawsuits every time the stock goes down, i wish they would stop doing that. if they keep doing that i would think about a major take out on this nonsense because they hurt everybody even the people they represent. they charge so much.
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dominoes itself did screw up, they did not know that they had a weak franchise missing numbers from overseas trade that cause people to think, wait a second maybe they are not as in control of their destiny as we thought, that is why the stock is going down. >> that is the conclusion of the lightning round. >> coming up, is there still room on the high-end sofa? or is rh done decorating her portfolio? keep it here? (cheerful music) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper.
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it is not my style to recommend a stock that is up 25% in a single day. if i am going to stick my neck out like that, i would do it for rh, restoration hardware. this is an incredible retailer ran by gary friedman, it is suddenly the hottest store in home furnishing. how did he get there? he is a highroller, the last few quarters he built one-of-a kind galleries, not stores but galleries, some in castles and factories, he has the housing market. in terms of transaction spirit maybe more petrick impressive metric this might be the slowest housing market in history. how could he spend so much money building up luxury furnishing chain when mortgage rates were so high? the stock punished him with vicious selloffs. gary never stopped believing and he never stopped building
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and he never stopped buying. last time we saw what happens when things work out you get a earnings explosion, the rh comeback kicked in this quarter and on the eve of a fresh rate cut cycle from the fet, i think we will see more quarters like this. gary is one-of-a-kind. he doesn't his way. no social media no tagging stories from someone else, just gorgeous places of art all for fabulous restaurants and breathtaking views. throughout the downturn he bought stock for himself and the company. he was early, he admits it but you have to be early in this business and now the numbers are extraordinary. demand is soaring with july up the present, august up 12%. he has a series of stores opening. you may not want to buy the stock of anything sub- 25% in one day, everything related to housing started to take off. just like rh did, you have to
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buy early to get ahead of the term. as gary told us in the conference call, despite expectations for conditions to remain challenging until interest rates ease and that housing market rebounds, we expect the demand to accelerate throughout 2024 and 2025. emphasis, mine. you can still access online if you join the club. i emphasize you do not outthink this. homebuilders are winners, i interviewed toll brothers this week, while they have put up excellent numbers throughout the whole tightening cycle, it is ready to take advantage of what i am betting will be a axle housing boom. people have been so reluctant to move because of high mortgage rates, take that away and the energy will come alive. told stock is up 45% over the year, while i do not think you missed it, if you want something with more room to play catch-up, check out home depot. when a new housing cycle gets rolling every aisle comes alive
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including black & decker, they are only up 3% for the year. if you want more rationale, sign up and watch their replay of yesterday's club call. it is not too late to buy builders first source, a distributor for homebuilders or lowe's they all work. rh stock is like a coiled spring. as gary put it, over 20 years, we began this journey with a vision of transforming a nearly bankrupt business that had a $20 million market gap and a box of laundry detergent on the cover of his catalog in the leading home brand luxury of the world. it now has a $6 billion market gap. until yesterday's court at the skeptics, and the short-sellers roam free. now they have been leaning the wrong way and they have to buy back the stock they are losing positions. i don't know if rh will give
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you a better entry point than what we got at the close today but i know this, at this point in the business cycle but against gary friedman at your own peril. i promise you i would find just enough for your money. see you monday from san francisco. is episode of "american greed"...e of dr. farid fata tells his patients they have cancer and he holds the keys to their survival. >> fata would say that he had better equipment, that he had medicines others didn't have. >> narrator: but after pumping people full of chemo for years, fata has a secret. many of his trusting patients don't even have the disease. >> and that's when it hit me, like, "wow, 2 1/2 years of treatments that i didn't need. >> narrator: the dangerous infusions fata provides serve only one purpose -- making him millions of dollars. >> for him, it was all about the bottom line. "how much time can i put the person in the chair, and how many doses of different drugs

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