sites. you want to buy that dip. >> carter? >> gdx. >> steve? >> roku, big dip on earnings. looking for a bounce. it's a trade, not an investment. >> wow. we ended so early. >> you were rushing. i had a lot more to say. >> the likz. everybody out there, peace. "mad money" with jim cramer beginnings right now. my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere, 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 make friends. i'm trying to make you a little money. my job is to entertain and make you a little mother. so tweet me@jim cramer. it's how it felt today.

while it was pretty harsh on some stocks, it was nirvana for others. tonight the eve of the election, the s&p declining 0.28%, the nasdaq dipping 3.3%, i'm seeing irony over what's winning and losing pretty much everywhere. >> sell, sell, sell. >> buy, buy, buy! >> first, understand traders are always looking for any sign that someone else knows something that they don't. they want to get ahead of tomorrow's results, although for all we know, it could take days or weeks before we accept the outcome. we were talking tomorrow night when i sit down right over here. and this weekend, these traders found the newfound source of conviction. simply, the anne seltzer iowa poll that shows this in the bag red state, it could be going blue. she has a great track record, so people are eager to extrapolate. if iowa turns blue, maybe a lot of safe states aren't so safe. as iowa goes, so goes the country? i think it's a stretch. let's start with the most incredible reactions, the bond market. interest rates went sharply lower today.

now, see, i'm so used to higher, to interest rates going higher in a democratic win, that this took me by surprise. it's completely out of character. but the bond market is steep, and its judgment is not made on a whim. there had to be billions of dollars invested today on rates going lower if harris wins the election. i find that astonishing. what's behind this anomaly? look, neither candidate is campaigning on a balanced budget. but there are endless speculations about how much worse trump would be for the deficit than harris would be. the bond pairs know the potential payments won't offset his proposed tax cuts. again, they're both bad on the budget deficit, but the bond market is really not loving the big-time bad of tariffs. hate trump or love trump, you have to accept that the bond market is saying interest rates will go lower if harris is elected because fewer trillions will be added to the deficit as opposed to more trillions. yeah, it really is that strange.

said, harris wants to subsidize first-time home purchases by $25,000. and that's resonating big-time. maybe too big time. d.r. horton which makes so-called starter homes with $400,000 being the sweet spot record today. but so did toll brothers, which makes million mansions. the average price a million dollars. maybe the first time a home buyer will get $25,000 to buy a home? seems odd. still, the stock is roaring. lenore, that will go higher if harris wins. nothing like a little solar buying ahead of the election. turnings have been sub-par, but because of perception that trump believes there is no climate change issue. but today both n phase and first solar went off, leaving the bears behind. call me old-fashioned, but i want to put my money on the solar company that shockingly beat the numbers. that's next tracker, nxt. charitable holdings, the trust did miss its quarter two seasons

ago, and that buy infuriated me, as you know. last week it reported a phenomenal quarter that makes solar more efficient. it allows solar panels to rotate and track the sun. no wonder it rallied nearly 6%. this is the ideal harris stock, which is a major reason why we bought it. we wanted to hedge our bets. fourth, the companies that import heavily from china have been banged down for ages now. >> sell, sell, sell, sell, sell, sell. >> not today. today we saw companies like shark ninja and elk beauty. shark ninja turned ice-cold late last week. it's trying to diversify its manufacturing away from china, but nobody can do that fast enough. so if there is a relief rally for a stock of a verier very good company. same with elf, which could be a huge winner under harris because so much of its cosmetics are sourced from china. but it's all relevant. neither candidates is a fan of the chinese government. trump seems to be going for a total shutdown against companies that don't move their manufacturing elsewhere. not getting that same vibe from

harris. how about constellation, stz? corona, pacifico, it's a beer that very high with latinos, and the market is sensing that immigration will be more liberal under harris, which means constellation will have more customers here. not a stretch. constellation has good data on this. not only that, but constellation's beers are made in mexico. see, you can't make a mexican beer in milwaukee. management is confident they won't be hit with a tariff increase under trump. i disagree. i think they will. meanwhile, though, constellation stock has been endlessly pummelled because of people like me who think they will. it's clear from today that the climb here wasn't caused by earnings, which has been better than the other brewers. the stock is going down with the possibility that trump could slap whatever tariff he wants on the imporpted beers. it doesn't matter what the stock says. the traders think they know better. the rally today seems to point toward a harris win tomorrow. it's getting shelled on earnings in china, a double play. they can help on earnings, but only harris can help on tariffs.

40% of their costs are sourced in china. that's enough to spur the stock. but they're doing their best to diversify away from china to err ocountries. can't move fast enough under trump. nice constitution with kamala harris? seems like it. goldman sachs today, they put out a piece on yeti and lists the companies relying on china and emphasis on it. it's been pushed out and down until today. there are some retailers that are viewed as chinese import havens, mainly best buy and dick's sporting goods. these aren't traders we're talking about. they use a meat ax, not a pen penknife. you don't see a lot of stuff made in china, but why let the facts get in the way of a real good story. how about the quintessential losers under a harris administration. traders shelled the health insurers all day. humana got rocked. these are obvious whipping boys until a candidate gets selected then anyone who gets in the white house is revealed to be all hat, no cattle when they go against the health insurers. even obamacare ended be up a mass subsidy in this industry.

the hyper scaler, meta, amazon, microsoft, they all traded horribly today. so what does that say? it says the traders are betting that harris will stand by biden's ftc and antitrust appointments who are known to be anti-the hyper scalers. we know amazon's strong criticism for the ftc, the justice department seems to have it in for alphabet, like no other company. and apple dribbling lower perhaps because once taken down a peg, given its market dominance, i was hoping harris would be more business friendly than biden. but today says maybe not. it says biden people are here to state. i hope the market is wrong on this one. but this could be a real disappointment to those who thought the dry spell in mergers was over. we know there are wall street donors who love to get rid of linda kahn at the ftc and the head of antitrust, but there are no princess di quo pros here just because you can never rely on a politician to stay bought. if harris wants to stick it to her donors or show independence from them, she can keep kaunt

and kanter on. but remember, i said a lot of irony here at the top. the companies that jonathan kanter and the ftc have picked on, they have been fabulous stocks. alphabet and amazon had incredible quarters and their stocks rallied big. i'm not saying we should have a kanter for kanter etf that lets you buy the stocks of all the companies justice goes after. i am saying for all the bluster from me and others, the stocks have bun extremely well. hmm. maybe antitrust is not the enemy. bottom line, i'm not sure the market is right about what a harris presidency means for business. but at least we have a blueprint for what wall street thinks it will mean. i like the idea you can now get a jump on what traders think. then again, i don't look at traders as the best idea of what other traders will do within the next day or two. i say stay the course. nico in illinois, nico? >> caller: jim, the apple vision pro, and can we get a boo-yah

for the new open outcry trading floors in chicago. >> if you want a boo-yah, you're going to get one for that because i'm in favor of that. what's going on? >> caller: boo-yah, baby. jim, disney's direction tried to lead in social media reach and cause claim and fail. how will they partner with an industry leader while they start cutting partnership receipts that dragged them down. >> what's really hurting disney is actually the number of people going to theme parks, because movies are now on fire. i think espn is stabilized. they've got the cruises coming, and the franchises, you know, remains very strong. i wish they would get it over with how much money they owe comcast for hulu, and then i think we get some clarity. until then people are very concerned even though the stock is up lately, it's not enough. i don't know if the market is right about a harris presidency and what it would mean for business, but at least we have a blueprint for what wall street thinks it will mean. and i'm not sure they know given how great the hyper sellers have been. certainly not worth changing

your portfolio over. on "mad money" tonight, how is arc investment responding to latest speed bumps? i'm learning more from the ceo. and the dow announced two change-ups to the roster. i'm break them down. and a disappointing report. oil and gas industry, maybe that judgment of catera stock is wrong too. stay with cramer. don't miss a second of "mad money." follow @jimcramer on x. have a question? tweet cramer, #madmentions. send jim an email to "mad money" at cnbc.com, or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com.

this is clem. clem's not a morning person. or a night person. or a...people person. but he is an "i can solve this in 4 different ways" person. and that person... is impossible to replace. you need clem. clem needs benefits. work with principal so we can help you help clem with a retirement and benefits plan that's right for him. let our expertise round out yours. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. our advanced matching helps find talented candidates, so you can connect with them fast.

visit indeed.com/hire power e*trade's easy to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley what if your mobile network and stay on top of the market. wasn't just built to work out here... ...but was designed differently to also give you blazing fast wifi where you are most of the time?

reliable 5g, plus wifi speeds up to a gig where you need it most. xfinity mobile. now xfinity internet customers can buy one line of unlimited and get one free for a year. ♪ what's it going to take for

the freight business to finally make a comeback? once the feds stopped tightening, a lot of us figured we'd get a comeback in the freight business. it hasn't happened yet, even with september's double rate cut. last friday we got from arc best, a real good one. it also does managed transportation solution. this time their weaker than expected quarter, and it was big earnings shortfall. that's why the stock dropped 4% on friday. recovered a bit today. these levels certainly cheap. but that only matters if the freight business can stabilize. let's take a closer look with judy mcreynolds, to get a better sense of what's going on with the quarter with the industry. ms. mcreynolds, welcome back to "mad money." >> thank you, jim. there are certainly more competitive wins out there, but i'm proud of the execution of our team and feel like we're well-positioned as we go forward to grow our revenues. >> do you thinkthat i'm right to believe that historically, i don't know which rate cut, you can tell me what percent rate

cut or what number rate cut, but there is a moment where there you basically in flak. you get to where you can actually raise rates. i've seaboard it before. when will it happen? or can it happen? >> well, we certainly follow those trends and are ready to adapt to them, but we're really focused on three points, accelerating growth of our company, improving our efficiencies, and innovating. and we feel like if we stay focused there and exceed our customer expectations, we're going to enhance shareholder value. >> so let's talk about innovation. you do mention you'd like to do more in small and mid-sized business. i see a vital role that arcbest can play as we continue to go down this e-commerce trend. what do you see in terms of small to medium-sized businesses in e-commerce that could generate a good return? >> well, you know, it's true that small and medium-sized businesses sometimes need more

help, and you mentioned already our managed solutions. and, you know, that can be a -- play a vital role for them in the management of their supply chains. in many cases, you know, those sized businesses just want to focus on the fundamentals and their business, and they want to know that they've got efficiency in their supply chain costs and good sets of options. and we just have a great expertise in that area and can really help them. can also do that with larger customers, but we see it a lot in the small to medium-sized area. >> i know you've got tremendous loyalty from your customers. is there a customer that allows you to talk about them and how you've helped them do better with their customers? >> well, just not to name names. >> okay. >> but to give you some industry, yes. >> you know, we have had some great examples over the last year in our managed solutions.

maybe a good example is in the automotive industry where we come in. they've had a lot of complexity in the remanufacturing part of their business and needing to really optimize their modes. sometimes using truckload into an ltl network and that sort of thing. and we have the people that work side by side with them to make that happen. another is a multibrand restaurant operator that, again, has come back to us. used to be an ltl only customer for us that's come in and wanted to talk to us about usieing loa optimization to reduce their costs and improve their reliability. so those are two examples. but what's interesting about our managed solutions is we're seeing the deals that we're looking at be five times larger than they were five years ago. and we had double-digit growth

in the quarter in that area, and, again, these are the most complex areas to manage. and we're really excited to come alongside our customers and help them with that. >> when is that going to help your earnings power? >> well, it takes some time, you know, but we are -- see our pipeline full. the work that we're doing to stay close to customers allows us when we involve multiple solutions to have three times the revenue. three times the profit, and we retain the customer five percentage points more often. and that really results in a full product line. it's up 40% since the beginning of the year. so it does take some time to work through these deals, make sure we're adding value and bring them on board. but i'm very confident in our ability to do that. and, again, we don't stand as a victim of the environment, what we like is to control those

things that are within our control and make sure our people are executing at a high level. >> do you ever see the railroads, which always come to me and say we're doing this precision. obviously, they all do some precision rail now, and they're saying we're taking a lot of business away from the truckers. but i've not seen truckers lose a lot of business to the rails. >> well, you know, i think that's always been a debate, but we actually utilize rail in a large part of our line haul miles. 20% of our miles run on rail. but that's because it's an efficient cost area for our customers and works well for us. so we don't see that kind of change going on, but we're very focused on doing the right thing for the customer. we use a lot of partners in our business. and we feel like overall when we're doing the right thing for the customer, enhancing the offerings we have for them, that that just enhances shareholder

value. and again, we're very focused on operational efficiencies too. i think when we step back and we look at work like in our city routes that we've done and added 13 million to the bottom line for that, or we've refreshed some equipment and improved our costs there by $5 million, and we've sent out operations experts to do training in our largest facilities and gain 7 million, those are the kinds of big chunks of savings that we're taking control of and doing ourselves and really improving our margins and enhancing shareholder value. >> now, how did you do in terms of all these considerations you just talked about with the company -- year-over-year, you have a company competitor that got hit by a cyber attack. you also had yellow. are you able to retain any of the business you picked up from what happened a year ago? >> yes, we certainly have. we did have some unusual

comparisons in october. i think that's what you're referencing. >> yes, i am. >> in october, yeah, october 2023, we had both the yellow bankruptcy effects going on as well as the cyber attack, and that tightened up capacity and made last october somewhat unusual. this october, you have the porch strike and two hurricanes that really had an impact. so when we're looking at that particular month, it's not a great proxy for what's normal that's going on. and so we're working past that, and, again, very focused on growing our revenues, growing the margins that we have in the business, and continue to work well with our customers to innovate. >> you're absolutely right. you can only do what you -- you can only control -- we're asking you this, asking you to take over what fedex's business, double it. we can't do that. you're arcbest and you do a good

job. i want to thank judy mcreynolds chair of arcbest. thank you for coming on "mad mon money..". >> thank you so much. coming up, a changing of the guard in the chip sector as nvidia replaces intel on the dow jones industrial average. cramer reveals what it means for the market, next.

what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com.

you founded your kayak company because you love the ocean. not spreadsheets... you need to hire. i need indeed. indeed you do. our matching platform lets you spend less time searching and more time connecting with candidates. visit indeed.com/hire >> university of maryland global campus is a school for real life, one that values the successes you've already achieved. earn up to 90 undergraduate credits for relevant experience and get the support you need from your first day to graduation day and beyond. what will your next success be?

last friday night we learned the dow jones industrial average, the og, they tell me that means the original to the gymnasium whatevers, has made a couple of changes. before they opened this coming friday. first, with intel, the former chain of the semiconductor spus space replaced nvidia. second change is less high profile. they're removing dow ink. that's the old commodity chemical maker. sherwin williams is all about paint and coatings. according to the s&p indices, they want more representative exposure to semiconductor materials. i don't blame them. plus because the dow jones industrial average is weighted by price, this is really hard, weighted by price rather than market cap, lower-priced stocks like dow or intel simply don't have as much as an impact as the higher priced points. you would never do it, i would

never, but they don't call it the venerable index for nothing. that's why the two highedweighted are goldman sachs and they both have share prices north of $500. just buying them home depot are in the neighborhood of $400. but intel's $22 share price means it accounts for less than 4% of the index which is a big problem, intel is the only semiconductor name, and we know the technology is a huge part of the economy, huge part of everything. simply, dow is the only material stock on the index with roughly $48 price per share, that means it accounts for less than 0.8% of the dow. this is supposed to be please at least somewhat representative of the market. with dow representing the materials cohort, and their industries are barely reflected in the index as all. the moment that nvidia and sherwin williams their triple digit stock prices meaning the material sector will have a much

larger weight in the index. other than that, do these changes really matter? let's deal with the zeitgeist, despite the 5 hrs move today, it was much higher at one point, and sherwin williams, i honestly don't think it makes sense for them to rally on the news. being added to the s&p 500, now that's a big deal because there are tons of index funds that exist to mirror the s&p. those funds are forced to buy the stocks in question. it's what everyone talks. there is very little money to the index to dow these days, so it shouldn't have much of an impact. no one has to buy the stocks when they're added on friday. my first reaction to the addition of nvidia is it's about time. nvidia only surpassed the market kpap in the 2020 now it's the second largest company in the world then again the market didn't truly appreciate nvidia until the launch of chatgpt in late 2022. until then, hardly anyone appreciated the potential or of generative ai or of accelerated

computing, except for maybe us. i don't know. before then nvidia spent years gaining ground because its gpus proved to be the fastest chips for data center. back then competitors like amd, even intel were close. they had serviceable products on the market, even if they weren't as good as nvidia's. however, the most recent high end championships, nvidia is in a league of its own when it comcome ai. intel basically has little right now to offer. bebought amd for the trust today. why? because there is room for two. and amd is going to gain over time. so everything else aside, booting intel from the dow and replacing it with nvidia makes perfect since. intel joined in 1989 when it was the most important semiconductor company in the world. now nvidia is the most important semiconductor company in history. back in 1999, exactly almost 25

years ago today, the dow jones industrial average made a move to modernize itself. it was shocking. they brought in intel, microsoft, home depot, and sbc communications, which is now part of at&t. they replaced goodyear tire, sears roebuck, bye-bye, union carbide merged and chevron which later was readded, kind of strange. intel and microsoft were the first nasdaq listed stocks to ever join the index. they kept up with the times. and now the dow is modernizing itself again, if only to keep up with the times. nvidia is certainly not a new name, it's not a new company, already 30 years old, it represents the most cutting edge technology in the semiconductor space while intel feels a tad more like a fossil. dropping down in place of sherwin williams, this feels less controversial to me. while the overall index waiting for the material sector should grow thanks to the stock's 374 price tag, it's really more of a consumer play, right? you buy it, i buy it. sherwin williams mainly sells point. dow's commodity are the building

blocks of all manufacturing. aside from sector classification, i'm not sure what the dow jones industrial average gets from sherwin williams that it didn't already have home depot, which is already. in then again, we're talking about a high quality company here with a strong stock, so i can't complain. at the end of the day, they're basically swapping out one cyclical story for another, but sherwin williams has been a much better performer than dow of late. when you look at the stocks, dow is trading sideways or trending lower the past four years while sherwin williams has definitively been trading higher. even when the fed ruthlessly raises interest rates, sherwin williams was able to work its way higher. plus, it's almost triple the size of dow by market cap. all of these things, let's just say the dow is a straight index, so we have to talk it. that and market cap. not the sok price. i keep thinking the keepers of the dow jones industrial average are replacing performers with a pair of winners. sure they want to represent the modern economy. but when the major averages make changes, they generally try to

improve the quality of the components too. and that's why index funds have become such a staple. the indices they're mirroring are more actively managed than most people think. the bottom line, the dow jones industrial average has become steadily less relevant over the years, and that's in part because of this old-fashioned system by weighting by price i just described, but also because its components tend to lag far behind the development of the economy itself there is a reason the dow is only up 26% since the end of 2022. nasdaq composite has shot up 74%. these two changes won't change, that they're certainly a step in the right direction, especially the decision to expel intel and rope in nvidia. though i will say, this they may have dumped intel at what could be the bottom. fellowship in north carolina, fellowship? >> caller: hey, jim. how you doing today? i hope you're doing good. >> doing real well. trying to figure out what to like ahead of the election. i finally brought my hands up and focused on saquon barkley's

backflip. what's happening with you? >> caller: i'm doing fair to middling today. >> fair to middling is good news as far as i'm concerned. >> caller: yeah, yep. tomorrow is the big day. tomorrow is the big day. >> and everyone's got remember to vote, although almost everybody i know has voted already. i don't know a soul who hasn't voted except for me. i like to vote on election day. go ahead. let's go to work. >> caller: yeah, well it took me a couple of times, but i persisted and was able to get my early vote. >> in good. good for you. >> caller: okay. all right. i want to talk about a stock that i bought for my grandkids, okay. >> okay. >> caller: i bought it last week. maybe i bought it on a monday, and i think wednesday it had its earnings report, okay. now the ebitda was good, okay. >> right. >> caller: a couple days ago, you were talking about eps, how important earnings to price

ratio circumstances yes, yes. >> caller: 21%. okay. the revenue, up 30% for the third quarter. and the other thing i don't understand, maybe you can tell me about is absolute bookings are very trong. i'm not sure what that means. maybe you can explain that to me. but any way, i'm thinking about schnitzle and a little more, because i didn't buy much, and i think got it buy more for the grandkids. so i want to do that. the stock is chain technologies. >> oh, you're dealing with dave regner, man, he is a hitter. this is a company that does basically, it's climate solutions. it used to be hvac. i regard it as climate solutions because they sfaend lot of time trying to figure out what to about the climate and not hurting it. there is so much big business that they can book it, but they can't all do it. it's not like buying air conditioners when you bring in train.

it's an excellent company. you're doing good for your grandkids. it's up huge this year. could come down a little, but please, understand, great company. the dow jones has become steadily less relevant over the years. all that explaining id did about the market cap versus the dollar amount. they're not going to change that, but there is certainly a step in the right direction. much more "mad money," including coterra. we have to find out what that's about. plus, after a strong apple and amazon numbers from europe, are we overlooking growth stories from across the pond? i'm going to give you my latest on the global landscape and the rapid-fire in tonight's edition of the "lightning round" so stay with cramer. ♪ ♪♪

[inner monologue] this is going to sound crazy. but i know these attack vectors. oh, had a little upgrade have we? ♪♪ okay, so that's how you want to play. ♪♪

(♪♪) behind every splenda product is a mission. helping millions of people reduce sugar from their diets. now try a sweetener grown by u.s. farmers. introducing zero-calorie splenda stevia. at splenda stevia farms, our plants are sweetened by sunshine. experience how great splenda stevia can be. grown on our farm, enjoyed at your table. (♪♪)

this friday, we got results from coterra energy. the oil and gas booster cleaner. this back in 2021. you know i'm a big believer in this one, which is why we own it for the charitable trust. even though coterra reported a solid quarter, the stock got clobbered, down 5%. the stock rebounded a bit after we learned that opec+ had agreed to delay their december output increase by a month in order to prop up the price of crude. that's what they do. so what do we make of all of this? let's take a closer look with tom jorden, the president and ceo of coterra. to learn more, mr. jorden, welcome back to "mad money." >> thank you, jim. glad to be here. >> tom, we got to clear up some things. i think you speak in what i call the conditional. you'll say well, look, if we do this, this could happen. if we do that, that can happen. i don't think any of these meaning subtext, we're going to do this. yet when i read the reports of

the analysts, the tone of it was he's going do something. it's diluting the bad, and we're not going to like it. that is not tom jorden, correct? >> no, jim, thank you for that opportunity. you know, i violated the first rule of investor relations. that's if you say something that can be misinterpreted, it will be misinterpreted. when we say focus area, we're not talking about out of basin. we're talking about things you can put a team around and make work. you know, we're very focused on creating value for our shareholders. i think if you look at how we've held the line on our discipline on m & a, i think that speaks for itself. those remarks unfortunately were completely misinterpreted. and, you know, you can't always have a do-over in this business. we'll take it where it is. >> that's why i'm so glad your came on. the tom jorden i know is saying look, there is an opportunity

we're going take it. if there is no opportunity, we're not going take it. that also includes certain pricing. look, you're not in the business of semiconductors, okay. you're in the business of oil and gas. and if both prices are down, i don't want coterra schwandering its create assets, pumping things out and not making enough money. well don't want empty calories from coterra. >> that's exactly right. well manage our company with production targets that would be value destructive if that were a goal. we manage by prudent investments. we look at our cash flow. we decide how much we want to invest. it's got to meet an investment threshold. we will never destroy capital to hold our production flat. never, ever, ever. that's just the way we believe value is created. >> obviously, a great way to create value is with these lng contracts. maybe you can explain to our people why this is what coterra -- this is the future right now, lng contracts.

>> well, for us, it's about a balanced portfolio. we really like to have a basket of price exposure, both in basin, out of basin, power contracts, and industrial user, and also lng getting exposure to the foreign pricing. so our marketing team has worked really, really hard to find lng contracts that hit us. we've been hard at it for a couple of years. the contracts we announced thursday night and discussed friday are with wowed counter party, and they are happy to partner with us. and that's always a good thing, because they're long-term relationships. they give us exposure to foreign index pricing and really helped back stop that weighted average sales price that's built from a good marketing portfolio. we think there is more of that to do, and we're really excited about being patient, but entering into deals when they make sense. >> okay. in terms of who the good counter parties are, one of the things

i've discovered about these big company that are trying to do -- we call them hyper scalers, trying to do deals with nuclear utilities. they talk a big game with nuclear, but then in the interim, because i do a lot of work with the turbine, in the interim all they're doing is l and anderson g contracts. it ruins their profile of being so-called good citizens. i had to believe in natural gas being a good citizen so use it. you see exactly what i'm talking about, right? in the end, they want your stuff. >> well, it's a complex problem. let me just start there. i think we're all trying to find our way forward. but although we're very supportive of nuclear, we're generally very supportive of technology and free markets, wherever it takes us. well regulated free markets. the nuclear solutions are well down the road. there is just not a serious study that comes out over the increased electricity demand

that doesn't say natural gas has to be the lion's share. and the marketplace will come around to that. it already is starting to. you've seen some nuclear deals lose support. and you're seeing more and more, you know, people discuss seriously about natural gas generation. it's the only answer for the bulk of it. >> okay. so this is where i'm going. you are compensated in large particle are part by emission reduction, by doing the right thing for the environment. why are all natural gas companies considered equal when some are compensated by huge amounts of volume and others are compensated by how much they can control in terms of climate change. why are they all the same? yours should be different. >> well, we're very proud of what we do, you know, jim. we're very connectcally aged. we set years ago a corporate

goal of reducing our emissions, whether or not not it reduces our reporting, because of our reporting criteria have some gaps. so we have focused. it's a top engineering challenge. our brightest people are on it. you'll see the tremendous progress we have made over the last few years. i think generally the industry shares that commitment. but i'lljust say not only companies are created equal on this. and we've thrown everything we have at it, and we're very, very proud of the record that we have in reducing our missions. >> do you hear that from any of the companies that are so intent. listen, we like solar, we like wind. we like nuke. do any of them say and we like natural gas companies that are fundamental and founded on the principles of cutting emissions? does anyone say that. >> more and more, i think you're going have to have that. before too long, we're going to have satellites in the air that will measure emissions. we'll be under continuous

monitoring. there is nowhere to hide on this topic. we might as well just realize we must take care of this issue, be transparent, be forthcoming in how we discuss it. we have a great relationship with some very environmentally conscious owners. and they've been very helpful to us. and quite frankly, i think we've been help to feel them in how we've been very, very forthcoming and transparent on some of the technical challenges. it's coming. and although i'm pleased to say that coterra is ahead of the game, everybody will get there eventually. >> and one thing is certain, tom. the demand is most certainly there, the input from the data centers. they need all power they can get. that correct? >> without question. when you look at the it's now hundreds of billions of dollars that have been committed to future data center grow, it's got to be powered. a and, look, we're not anti-any technology, wind, solar, nuclear, hydro, bring it all on. but we must have baseline power

that's not intermittent, that's fully dispatchable on demand, and there are very few in that basket that are that way. certainly nuclear is that way. but natural gas solidly is that way, and its emissions footprint is part of the climate solution. >> all right. let's leave it there. thank you pour the common sense approach to making money and to doing the right thing for the environment. tom jorden, who is the chair and presidency of coterra energy. tom, i love having you on. thank you so much. >> thank you, jim. >> absolutely. "mad money" will be back after the break. leo! he's there when we wake up, he's there when we leave, he's there whenever we come back home from school, he's just there always. mash it up doofus. ever since we introduced him to the farmer's dog, his quality of life has been forever changed. he prefers real, human-grade food.

it's... ...like real food! it is! he's a happy dog now. he's a happy, happy dog. he's a happy, happy, happy dog! ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term

policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

it is time! it's time for the "lightning round." cramer, talk about buy, buy, buy, sell, sell, sell, [ buzzer ] and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round." let's go rick in new york. rick? >> caller: rick, hi. thanks, jim. thanks for taking my call. >> of course. what's going on, rick? >> caller: thanks for giving the individual investor a seat at the table. >> sure trying. thank you, buddy. sure trying. what's going on? sure trying to get it done. go ahead. go ahead. >> caller: i'd like to -- ceva inc. >> that has been a very competitive business over time. i really think the stock is way too high, and i think you should take something off the table. let's go to miles in maryland. miles? >> boo-yah, jim. >> boo-yah. >> caller: i just want to say i'm a psychiatrist, and i find

your madness not only entertaining but it's been invaluable to me as investor. thank you so much, jim. >> i'm doing it right. as crazy as that sounds, i'm doing it right. let's go to work. what's up? >> caller: my stock is intuitive machines. >> you know, look, i love space stuff, and that's why i keep recommending tesla. i know people think tesla is just a car pane. if i can there is going to be something in space, it is going to be done by elon musk, and you'll benefit with owning tesla. let's go to vince in florida. vince? >> caller: hey, jim, i got a lot of ford. what do you think about ford? >> i did not like the warranty number once again. i didn't like how much they're losing in evs. i do like the man who runs it, farley, and i want so badly for the company to do well. but i can't recommend the stock. let's go to truman in california. truman? >> caller: >> afternoon, jimmy. looking deep down into the deep barrels of the low oil.

wti is pretty low, staying low. with all the production, can slb catch a bid? >> you know, look, if companies were just grade on how well run they are and not what they actually do for a living, then slb would be at the top of the pile. but in the end, they are in the oil service business, and oil is not a growth commodity, so i'm going to say you can't own the stock here as much as i really like them. catherine in ohio, catherine? >> caller: hey, jim. how's it going? >> not bad. how about you, catherine? what's up? >> i'm doing good. go luck vistra. i'm holding long-term is it a good idea? >> when a stock is up 200%, i need you to take something off the table. you'll look back and chatted with me if it dowes go down. that's the best thing that can happen. feliz do that. and that, ladies and gentlemen, the conclusion of the "lightning round"! [ buzzer ] >> the "lightning round" is

sponsored by charles schwab. coming up, feel like this market needs a european vacation? cramer hops across the pond for some economic insight, next. boo-yah, jim. your integrity makes you the boo-yah saint of wall street. >> boo-yah, jimmy chill! >> boo-yah, jimmy chill. >> ba-ba-ba-boo-yah, jim. >> quadruple, that's a lot of boo-yahs. th the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth.

♪ on this morning when spain reported a robust purchasing manager index, speaking of spanish manufacturing is strong as it's been in two and a half years. growth ways thing for years and years. nobody expecting anything from their economy, even as we've already gotten three rate cuts from the european central bank. more than a point below us. in fact, there is now good growth all across europe with

excellent growth in the southern rim, which includes portugal, italy and greece. i understand why people ignore europe. it's a place where companies would regularly miss their numbers. the cards seem stacked against you. it's still not good in germany because of the war in ukraine and because it's so auto-based. but this continent of 750 million people, twice our market size is now percolating. we're seeing better than expected european numbers, and no one seems to notice thanks to a combination of ennui and disbelief. sooner or later wall street is going to wake up that europe is back. the credit suisse collapsed during the mini bank crisis. then comes an international bank with lots of business. the chair and executive director who was on our show recently put up fantastic numbers. that told the tale of a continent that is waking up. then after the close thursday, we saw amazing european numbers from both apple and amazon. i couldn't believe there was no analyst attention here, especially for apple. europe is the only positive standout. as for amazon, it's been toy

trying for more than two decades. this was the europe inflection quarter. they made $1 billion in europe. i know that's not a lot to the size of amazon, but that's why it's important to note when amazon finally goes positive in a region or division, that begins the process, begins it of making billions of dollars. they'll be taking advantage of the bigger market population wise as the number of users gets bigger. truly incredible that amazon stuck with europe for so long, but they're big thinker, and it's finally paying off. in the meantime there have many companies that think the big china turn is right around the corner. how anyone believes that is truly incredible. every stimulus from the chinese government so far has been a bust. [ booing ] american companies routinely harassed by the authorities. it is a real bad place to do business. all i ever hear is things are about to get better in china. i is a i they have a game plan for a trump victory tomorrow because i think it will be a lot more difficult for american companies to work over there. the chinese economy thinks they have us other a bow because they repeatedly miss numbers and always have to cut dividend

courtesy of the chinese cosmetics board never coming back. they seem convinced they own us. i say hold on. i say forget china. go to europe. that's where the money. i like to say there is always a bull market somewhere. i promise to try to find it for you here on "mad money." i'm jim cramer. see you tomorrow. y kind, returns to the tank. when you build something, you should build it because you love it, not for the "exit." why do we use something just for a few minutes if it's gonna take hundreds of years to decompose? -oh! -[ gasps ] this is more than just getting a quick buck back. we want to impact the world. you're thinking too small. you've got this game-changer that made me ask myself, "why didn't i think of that?" what?! bonar: this is the biggest innovation in years, all: and it'll blow your mind. boom! nice! your deal's from the planet zootron. both: bzzzzzz! so we actually sold our house. -[ gasps ] -he quit his job. and how many kids do you have? we have seven. -what?! -seven?! -seven?!