tv Mad Money CNBC November 1, 2024 6:00pm-7:00pm EDT
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interesting smaller company. >> you saw the division with exxon and chevron. i would take the exxon. >> i'll take the opposite, chevron. >> you look sharp today. i can't really figure it out. any, citibank, i think banks are going 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." my friends, i'm just trying to make a little money. my job is not just to educate, but to entertain. call me, 1-800-743-cnbc , tweet
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me, @jimcramer. companies like hasselbeck, amazon, apple, meta , and microsoft. as the dow and nasdaq jump. how good was amazon? how week was apple? the tet titan action was about who could tell the best story which surprisingly was alphabet. who had the biggest low up which was amazon which had a poor number last time. it is a travesty having all these companies report during the same week. nobody could possibly study all of those positions at the same time and i say that as someone with the travel trust that owns everyone of those stocks. i would have gone nuts years ago. i remain steadfast in every one of these names including apple. apple is the only one that is
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too expensive. the adjustment for the disappointing out like, i bet they close between 210 and 220 next week. they come down from the highs except maybe amazon. amazon was at 161 when i pounded the table last time. it has gone up to 190. with that out of the way, we have still one more bombardment of earnings but i want to start the gain plan in the middle of the week. look at this one on thursday. more important than the stock market is the federal open market committee can ask the committee meeting. this is so important because bonds keep going the wrong way. we had an incredibly weak nonfarm payroll report that was destroyed by hurricanes. the market reacted positively but bond sellers came back with a
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vengeance. the long-range stream tyer. in my opinion, the fed needs to cut rates again. in the last couple weeks we've heard from too many businesses saying that we have a slowdown on her hands. the economy is little bit shaky. the bond market did not like it when the fed started cutting rates in september despite a relatively strong economy and healthy labor market. you could easily argue that if the fed cuts again we could see a similar negative reaction but i don't even care. if the fed cuts rates next week psychologically there's hope we could see a pickup to industries that seem to be losing strength by the day it is vital for the fed to recognize it needs to cut. before the fed meeting we have election day. both candidates seem to be eager to bust the budget. the only question is whether they can get the agenda for congress. trump would be more of a budget buster than harris because big
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tax cuts translate to a bigger budget deficit. just to be sure, election night coverage i will be here on tuesday with my colleague, carl. we will offer election coverage like none other. i hope i don't have to pull another all nighter like we did with that chevron platform last week. by the way they had a fantastic quarter and it still cheap. back to the pedestrian earning reports. it starts with berkshire hathaway. they report tomorrow but we will dissected on monday. there's no such thing as a bad quarter because we are dealing with warren buffett. we have all fallen in love with nuclear power. that means we like constellation energy. i think it has become a cold stock. it does not matter what they had to say. same as pounds which reports after the close. they are one of the best performers in the s&p 500. members that on this stock seem eager to push it up to the gain
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of nvidia. it could pull off. if it gets hit on the numbers i want you to buy some. this very evening nvidia i got added to the dow jones and intel got the boot. it is fabulous for bragging rights. nvidia stock should not have gone up after the belt but people get excited. it's insane to watch these buyers of palantir that don't care how the company is doing. they just get the stock because they want to go higher but how do you explain the heights trump media has traveled to without any earnings. tuesday we will hear from builders first source. i bet they tell you the same thing i just said a few minutes ago. they need the rates to go lower to have a lot of business to be reignited. the king of vehicles reports on
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tuesday. i'm talking about ferrari. everything luxury has been doing poorly because of china. it does not matter for for ryan because they are more of an american stock. people keep heading against them but that's been a sucker spat. then we have supermicro. we know this company is on the firing line after the owner assigned -- auditor left noisily because they could not make sense of the numbers. they have seen the stock markets relentlessly higher. think that is pretty ominous. wednesday, cbs reports. we will learn about the new ceo's turnover plans. he has some heavy lifting because they have a jumbled set of assets. i am rooting for him. you need southern will begin get. now the holdings reports. this chip is tightly linked with apple.
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it is everywhere. i think it prints an excellent number but that might not matter to this particular stock get if it's in a bad mood day because the semis are soundly becoming more dependent. we also want to know about the loan -- arm lawsuit with qualcomm. speak of the devil. qualcomm reports at the same time. there have been stories floated about how the ceo has been interested in buying intel. i think he has to move fast because after the reporter yesterday that stock is going higher regardless of whether it was booted from the dow. it tends not to go down on week numbers and it sores on strong ones. the best network to own out here is arista. it's a hyper scaler helper. it makes network switching equipment that is ubiquitous in the data center. it reports on thursday and it
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is a buy. draft kings also reports. you may be shocked to find out there is gambling going on. i think it's a terrific story and a great investment. then we have network security. that is coming on the heels of an amazing report from reddit. maybe for pinterest also. a firm will drop its numbers also. the stock has been almost straight up since it reported last time. finally on friday here's a company i have not talked about in maybe 30 years. it is fluor. it's an engineering company am starting to hear good things about. that makes sense given all the infrastructure spending but even with all of these reports coming at the end of the day the market will still be hostage to the election and perhaps more important to the fed meeting. let's speak to gregory in california. >> jim, as you may recall i'm a
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very proud early club member. i just love what you do. >> i do recall. i recall you are very kind. it means a lot to me. >> it is my pleasure. you really are the best. i'm calling about a stock that i know is in some ways a favorite of yours and when you recently said as the player winner in autonomy. they had a fantastic quarter. they were not expected to. the stock has just dropped and dropped. i just wonder as a member of the club why wouldn't you pull the trigger on tesla which is a great car company and so much more. >> it is funny. i have been debating that and going to jeff with it because we talk about this together. the reason is i felt the quarter showed you not only a
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great car company but a great technology company. i want to take what gregory says under advisement. it may be the right time to do that. i will kick that around this weekend. it's my wife's birthday and there's room for both discussing tesla and being with my wife. i have wrecked my marriage enough this week. i will just make it saturday also. despite all of the companies we will hear from the market will take its cue from the election and the fed meeting. it's a special fed meeting on thursday. on mad money tonight elevator maker otis pulled back after earnings citing china sales. plus abbott labs has been affected this year. i will see if yesterday's ruling in their favor could be a catalyst for the success. the go daddy ceo is sharing how
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otis is down to 6.5%. does this need to cool off more? a rare buying opportunity to cut rates around the world. i sat down with judy marks to learn more. welcome back to mad money. >> jim, it's great to be with you tonight. >> i have to tell you. i'm wondering why we shouldn't just forget china. if every question is about china we may be missing the forest for the trees. is it not true that china is no longer necessarily the swing factor in be-all and end-all for otis? >> you've got it straight. you know us as a service company. we really had a solid quarter. service revenues were up over 7%. modernization is double-digit and really compensated for the china weakness on new equipment.
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couldn't be more proud of our team performing across the globe. we return to top line growth again compensating for new equipment. our china business is about 13% of total revenue. a third of that is service and modernization and that is growing. we know what we are doing. our service portfolio grew another 2.4%. 25,000 elevators and escalators that we added to the portfolio. that helped us drive some strong cash and helped us with the capital allocation. we bought back $200 million of share repurchases. we will really make sure that we return the cash to the shareholders. >> i had a conversation with tim cook yesterday. everybody there the same thing. i said india will be the big
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growth market. china maybe 1.4 billion going to 1.2 billion. you referenced india on your quarter. i know that they care passionately about manufacturing there for them. what has the experience been? >> we have migrated the entire product set to india. it's the second largest elevator and escalator market in the world. we have number one share. we needed more capacity. you manufacture, you have the supply chain local so we manufacture elevators and escalators. we are running out of space i was over there last month and we were going to expand. we do manufacture local for local everywhere in the world including north america.
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you do it to be cost competitive. that's where you get the marketshare growth. you bring the new products to every market locally and then you serve them. we modernize them and refurbish them in about 20 years it is the key to the business. the margins will grow even with the challenges we face with certain new equipment markets. we will still grown 70 basis points. >> i will tell you what i think has been the difficulty for our viewers. flight calling larry culp at ge aerospace and say that boeing isn't making any planes, i realize that is bad for you. the fewer planes that are made the more money they make. to some degree the idea that they are not putting up huge apartment complexes in china does not necessarily mean you do badly because they have an existing group of places.
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i have worked a bunch of companies this week that her china. china cares passionately about safety. they are passionate just as good as we are if not more so. >> it is the largest service market on the globe. we have doubled our service portfolio since 2020. even this quarter was the eighth straight quarter in china of growing the service portfolio mid to high teens. china units are also going to need modernization. the china stimulus, the first part that was issued in july is for equipment renewal. elevators are included in that. we think that is the early part of what we will see but we are not counting on stimulus. we know how we need to operate the business across the globe and in china. when we get those roles on the stimulus we hope to hear them maybe next friday at the end of the people's congress. we need to understand the how and then
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we will see what happens. >> one last question i've got, i'm getting good news about europe from apple. good news about europe from amazon. i speak to these companies and they are saying, particularly in portugal, ireland, italy and greece and spain, they are seeing real change. maybe not germany because of ukraine and china, but other parts of europe are really turning. are you seeing that? >> we have been seeing it all year especially southern europe which is where we have our largest service portfolio. it's the reverse of what we saw after the gse. i was in athens last month. it's unbelievable the development that is going on. we are excited. we have a great leadership position there. america has bounced back really well this quarter. every single segment for new equipment construction, residential, commercial, industrial infrastructure was up
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for the first time this year. we booked almost 25% growth in the order book. i think sentiment has turned in many places. americas, clearly southern europe and middle east, asia- pacific, let's see what happens with the stimulus in china. >> i'm glad we are talking about other areas. you do miss a big move if you just focus on what is going on in china. there are other places to make money in the service business. thank you, judy marks. chair and ceo of otis. mad money is back after the break. shares about it on the move after a michigan jury ruled in its favor. cramer is looking closer at what it means for the investing club and the litigation still pending against it.
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reestablished our position. about six months ago something insane happened. part of he nutrition segment which is a small part of that business making a specialized formula for premature babies that desperately need specialized nutrition. only abbott could make this stuff because it is not profitable. it is more of a public service. they are being hit with these losses which i have to tell you this one really steams me. these claims that the premature baby formula caused a potentially fatal condition called necrotizing enterocolitis. they were getting sued. in much a case was lost in illinois and ordered to pay $60 million.
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what was really bad as it was 35 dollars more than the plaintiff was looking for. the court was not satisfied with the amount that the plaintiff asked for. it awarded more than double what they were seeking. it knocked down abbott also. it was a gigantic loss for abbott. billions and billions of dollars and nobody saw coming. into live ever facing the first case in st. louis which is a notoriously plaintiff friendly jurisdiction. the jury ruled against them and order the company to pay a whopping 495 alien dollars. there were still about 1000 of these cases outstanding. if abbott kept losing like that and do not win on appeal, they would have lost 495 alien dollars. that is enough to sink the business. it was frightening. yesterday we had a positive up date. they have been facing a second trial. last night the jury ruled in flavor of -- favor of
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abbott, finding the companies not liable. it's a huge decision. the case was extremely high. that is a big number equal to 80% of earnings last year. . also this was held in the same courtroom they lost in july for the same judge. that's why i told you i was pretty pessimistic when it began. the jury found in favor of abbott which is very important. this was a real surprise. the baby formula makers seemingly support a big win for their side when the fda, cdc, and nih issued a joint statement
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for infants where the supply of human milk is insufficient. these are part of the standard care. there is no conclusive evidence that the formula causes it and there is strong evidence that human milk is protective against it. basically, the formula does not cause the disease. it is just not as good as preventing it as actual milk. if you had enough milk you would not be using it in the first place. there's a reason that these came out swinging. this premature infant formula is essential to the health care system. these companies make very little money from it. if they will get sued for trying to help they will have to get out of the business entirely. in the previous case they had a fiduciary. they felt it was the
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wrong thing to do. the crazy thing is, even though all of these agencies came out in defense of this the judge actually blocked them from showing the report. then james kirk was sanctioned by the court and banned from the case trying to get his incredibly important evidence in front of the jury. despite the venue, despite the judge, they still won. several analysts wrote about the ruling overnight. it also puts abbott in a much better position for settling remaining flames -- claims. it will be a lot less than wall street. if there's going to be any money given to the plaintiffs at all.
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the fundamentals are fantastic. remember what can happen. you run the risk you may not recover anything. the lawyers only pay if they recover something so why pursue this matter? abbott reported two weeks ago and turned in a solid b and race result. this was a clean top and bottom line. management raised the full-year earnings forecast. they are looking at 9 to 10% of organic growth. they gained 1.5%. it would have rallied a lot harder if it weren't for the ongoing trial with that $6 billion guilty punitive damages in the background. sure enough it caught fire in response. it is at its highest level since early march just before we started worrying about this baby formula litigation. i told you to stick with the abbott on july 18.
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there is much more to be gained ahead of time. for most of this year they have been down from this issue. i kept telling you they were right here and even if some were sticking with them it is just that good. they got the first big break in court. though the problem isn't over i'm hopeful things are finally headed in the right direction. rather than just the dedication list which was reduced dramatically after yesterday's huge win. let's go to david and new york. >> a long time listener first time caller. >> excellent, thank you. >> i would like to know what you think about moderna. >> i am strong on moderna because they have not been able to deliver on many things they promised. i know they are a great company
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but if you are talking about personalized vaccines, personalized cancer vaccines let's see some numbers. the numbers are not there yet. if they give us some numbers we will go positive but there is no reason right now. abbott finally got a break in court. i think this will allow investors to focus on the fundamentals of this company. i use this for my travel trust. one of the top s&p performance nobody talks about called godaddy. then all your calls in a rapidfire edition of the lightning round so stay with cramer.
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it's been an incredible year for godaddy . they have technology for over 21 million customers. is the 10th best performer in the s&p 500. momentum continued this week after a beat and raise quarter set the stock up over 3% deserving. we have to ask ourselves, could it be the beginning, the middle or are we near the end or is it just a great time to buy. i am here with aman bhutani. he does not know me but i'm his biggest customer. i also pay for people not to know that i use it. welcome to mad money. how are you? >> thank you. thank you for having me and thank you for being a customer.
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>> i've been a customer for a very long time. you have 24/7 customer service. i say to people i want it simple and honest. if i have to get somebody on the phone you are the only one that does it. i need you to explain to the people that have never used godaddy , if they want to come up with a new company the way to do it is to contact godaddy. >> the way to do it is to contact godaddy. for 25 years we've been the domain registrar globally of choice. when people have an idea and they want their idea on the internet they think of godaddy and buying the domain name. what we have for them today is much bigger. we have a website, productivity solutions. we have so much more and we package it in a really easy to use manner.
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we use generative a.i. to make it easy for them. start with godaddy. we will help you get online and start your business in minutes. >> one of the things i discovered as i always say to my assistant, how come it costs so little. it has to cost more than that. there has to be a catch. but there isn't. how do you do it for so little money? >> we are disciplined. we have almost 21 million customers but our average customer is the micro-business. this is the roofer, the electrician, the cleaner. they are not jim cramer. they need the service to be cheap. they needed to always work and they need to get on the phone. we don't even call it customer service. we call it care because what our customers need is care. we don't make the call short. we take the time to explain what they need to do. that has become a competitive advantage.
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who can say that about their customer service. >> i don't want to knock the other guy. the other guy is one of the largest companies on earth. that's who i told them. i said just go call google. you can't call google. you won't get anybody on the phone. if you are a small businessperson, you don't have clout. i have never seen -- we go in and do it under other names because we don't want people to know what we are up to, but you always treat everybody equally. two different customer service guy sat two different websites they said don't fool around with the one you want to go to, use godaddy. that's an incredible statement for what you have done. >> this is the core of our business. we want to provide a great service at an exceptional price. we want customers to call us. we want them to help us out. that does not matter if we pick
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up the phone. you can chat with us on the phone and we will provide you with that unbelievable customer service. if you have a problem you are calling customer service for life. we will help you with whatever we can. if you have services that you don't need we will cancel them so let's save you some money. >> there is a perception we have to open it with shopify if you want to sell stuff. you get a domain with godaddy and we provide something which is called main connect which all the providers use to connect the domains easily. we make it easier and easier all the time to work with any
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other company out there. what we are providing now is using a.i. in and easy way to get yourself set up. you buy the domain name and the a.i. creates a one page website for you. you have a template, what do you type in? you are faced with this screen. a.i. can generate that for you. we have millions of domain names in our portfolio. a.i. can learn from all of those, guess what business you are in and generate the content. then you can change it and edit it. >> so i don't have the time. i know i don't understand like some sort of king of something but i don't have the time. i have someone who is a cfo. i went there and said how come we are not using the a.i. stuff. she said we don't really need it.
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i said, look it over. i think we do. >> we call it godaddy arrow. it will create a website for you. it will give you content pictures and images. it will generate a logo for you. if you want a better logo that will help you create a better one. it will create the commerce with a little shopping cart. you get the domain name you have the shopping cart and you can send a qr link to anyone and accept payment. you don't need anything else for the same price. it is built-in free with every domain. we are taking it further for customers. all they are doing is taking the pictures of their products and dropping them into the system saying great. i've got this picture. looks like it is red in color. do you like this description? i will have a price for you.
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do you like this price. that is the kind of magical experience that we want to create across the board with domain, website, productivity, commerce, we have a beautiful piece of hardware that fully integrate with other experiences. just one system in the back. it integrates it all. >> i have to tell you. i feel i have to have you back soon to talk about the financials. i am enthralled by your company and the numbers are obviously fantastic. we will talk about that next time. we have been using them for years. so thank you so much for coming on that. it is aman bhutani, ceo of godaddy. one of the great performers of our time. mad money is back after the
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it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. lightning round is sponsored by charles schwab. trade brilliantly. it is time for the lightning round. you tell me the stocks. i tell you buy, buy, buy , sell, sell, sell.
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you hear the sound and the lightning round is over. let's start with brian in rhode island. >> hey, jim. with the ever-growing threat of cyber security. what about cyber ark. >> i have likes them for many years. >> let's go to wayne in california. >> with investors destroying uber this week what can we think about lyft next week ? >> i would get uber with or without lyft. >> jim, this is nathan in pennsylvania. i hope that you enjoy the upcoming holiday. aurora innovation. >> when i get into self driving technology, i like to go with tesla.
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i don't like the guy. he was nasty to me the one time i met him. that does not impact my thinking. i would get tesla stock. let's go to andre in louisiana. >> andre in new orleans. >> i got booyah from my new orleans radio. let's go to work. >> i love costco. i am a big user. i think the credit cards scanning issue is a very big issue. some people describe it as a netflix moment. what i'm curious about, this company has been public since 1985. they give great value to customers and shareholders. they've only had to displace in 1993 and 2000.
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they sell gold at a great place. it's a great place to go to get a deal. why don't they give the shareholders a deal? >> i have to ask them. i have not talked to them lately. the ceo, the former cfo i would have just asked him directly. what matters to me is great service. i crushed it when i was there last week. those little pizzas are really extraordinary. the drink was so cheap i told him it was wrong. i tried to give them cash but they don't take cash anymore. just get some costco. let's go to fadi. >> huntington industries. >> i have to look into them. i have to find out what happened to that quarter. all of the stocks were good and
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i saw it fall apart and i did not get a chance to look into that. let's go to mike in pennsylvania. >> booyah. how are you doing? >> i'm doing well. how are you. >> i am calling about shark ninja. i started as a customer. i looked at their financials and they are really solid. they just had their earning report which i thought was really good, but the stock dropped 20%. what's your thoughts? >> i have to tell you. they are taking over whole aisles at costco. i think it's a terrific company. however, they make the stuff here and design it here but it is constructed in china. otherwise they design it here and it's constructed in china and sent back here. if trump wins the tariffs will be so high that earnings will be shot. it is the stock to buy if you
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think that harris is going to be the next president of the united states. that, ladies and gentlemen, is the conclusion of the lightning round. lightning round is sponsored by charles schwab. from tariffs to taxes, the presidential candidates have campaigned for next week's election with market moving promises. cramer is revealing the promising stance that could shake up stocks no matter who wins the white house.
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tamra, izzy and emma... they respond to emails with phone-calls... and they don't "circle back" they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety- clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy and emma. they need a retirement plan.
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behind telling you the market impact of each candidate statements. we know former president trump favors high tariffs which the stock market does not like. it has never liked tariffs. we know that vice president harris has not told us too much about what she's thinking but she is saying she will work toward getting $25,000 for her first-time homebuyers. what i do know, the business people i talked to are most concerned about antitrust or more specifically about regulators punishing successful enterprise. the hyper scalars have engaged in monopolistic practices. google had a case with the justice department accusing it of making deals. the judge made some very good points about how google paid to make sure its search was the most use but google is the best search. this just made it easier to get to. the alternative being is just
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not as good. it's not as big of a deal as they made it. last night amazon and apple reported. i know that they are in the sights of the justice department and the ftc. they believe that huge companies are inherently anti- competitive. i want to give you another side of the story. whenever i talked to amazon as i did last night i'm struck by their commitment to lower prices for you the consumer. at a time when the american public has been pummeled by the worst inflation they are one of the few inflation fighters out there. i'm not going to ask them to get the congressional medal but could we accept that amazon's beloved by more than 200 million prime members because it's the cheapest and most convenient out there. they put the squeeze on the suppliers but they pass the savings to the rest of us. amazon is one of the greatest companies in the world. the ftc wants to wreck our greatest inflation fighter i say for who. how about apple?
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they offer a superior product at a good price. they are bundling health service to have people's pay something per month. maybe five dollars a month. i was thinking about the hearing aid piece i did last week where i tried the air prods and i can hear better than the hearing aids. he said he wanted to democratize healthcare and not charge for it. i was thinking like a capitalist. he's thinking like a humanist. they want to nail him? give me a break. they don't seem to realize the american people truly believe these are great companies doing great things. do we want them spending our tax dollars bringing them to heal. i would rather they spent more time going after companies that make our lives worse rather than hobbling companies that make our lives better. go after the gaucher's and the companies that collude to jack up healthcare costs. not for
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the ones that don't charge for it because they want to democratize healthcare. they don't get who we root for they don't get who we root for and it's not them. narrator: in this episode of "american greed"... no wonder i hate politics. like i said there's always a bull market somewhere. i promise to find it for you. i'm jim cramer, see you monday. narrator: fox's customers are enticed with low prices, and they ignore the financial hangover to come. "stay away! stay away!" narrator: fox, too, is reckless. he steals clients' money and spends nearly $1 million on scores of women he meets online. i think he was definitely a sex addict.
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