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tv   Mad Money  CNBC  January 17, 2025 6:00pm-7:00pm EST

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>> courtney. >> i was going to use your same one, i picked jpmorgan's, i like the banks going into inauguration day. >> steve. >> love bitcoin and i love something that outperforms bitcoin, 3 1/2 to 1, that's micro strategy. >> all right. thank you for watching "fast money," have a 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. i promise to help you find it. "mad money" starts now. i'm cramer. welcome to "mad money." i'm just trying to make you a little money. my job is not just to entertain but to educate and teach you. the bulls are roaming freely. they cannot seem to be stopped. that's my read on today's
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action. another sensational day where the dow gained and the s&p jumped and the nasdaq, more pole vaulting. this market is not enduring the waning days of the biden administration. next week has an inauguration of a pro-business president. we have no idea whether the next administration will live up to the levels that -- will trump be pro-tech? will he embrace mergers? will a rising tide left all boats? businesses want to do what they want when they want to while not paying a lot of tax. is that unreasonable? depends. very unreasonable if you think big business is nefarious and they are run by greedy oligarchs. if you believe in letting business what they want within certain limits, that's the name of the game. we won't have to wait long for
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monday's inauguration. rolling back biden's xecutive decisions while closing the borders and deport who knows how many undocumented ingrant ed i. some will get kicked to the supreme court. trump plans to come in hot to advance business. that's the only thing that can justify this market's recent rally. my interactions with soon to be president trump revolve around the stock market which he thinks of as the true barometer of his job performance. biden never cared about the stock market. he wanted to be a class warrior, the labor president. trump doesn't want that. he wants to be the capital president. i don't expect anything different this time around. we will have plenty of cutive decisions to parse.
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the shutdown of tiktok is assured. the president-elect wants to see if he can get a deal going. he respect the supreme court. i don't see thought anything can be worked out. that seems to be a given. at the same time, trump intends to roll back regulation, especially anti-fossil fuel expansion while rounding ing undocumented people while blocking china from getting all the saturday ta data. we will have it tuesday. tuesday continues with compelling companies that i expect to talk about. it's uncertain politically and economically. 3m reports in the morning. we should get a first class blowout from united airlines. it's riding airline
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profitability. i think shareholders will be awarded with a huge beat. they are benefitting from a lack of planes and competition that allow ticket prices to go higher. not good for consumers. but tremendous for shareholders. one of the best performers last year. today it closed at 107 bucks. wednesday, we have firecrackers. data center business is red hot. in order to fuel the warehouses full of servers and send the air conditioning in and electricity, what do you got to o? you need more power plants. they will place orders with ge. that's another best performer. i don't think it's done. slb reported today. it was smashing. the action allowed halliburton to rally. they won't put up that kind of surprise.
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the reason to buy hal is that trump wants to drill everywhere but playgrounds. we get results from two household names, procter & gamble and johnson & johnson. j & j has lawsuits. the market has turned against these stocks. i think you put either away by sting the dividends. president biden reached out drugs that medicare will try to get better prices for. this actually reduces inflation. one of the most popular of the year, wegovy, will get scrutiny. eli lilly has a similar drug. they are worried it will happen when it comes up for regulation. that stock got hammered. it wasn't unexpected. it stung. especially because there were so
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many stocks screaming higher. thursday we have another ge coming in. ge aerospace. i think we have a winner. it's not as clean as i would like, because last time there were hair on the quarter. supply chain causing an 8% hit. you will recoup that in the same day. mark your calendar. we will be hosting a monthly meeting of the club on thursday which people tell me are so much fun. we will go over the portfolio based on specific recommendations. it's a new meeting. it's worth signing up for. give us a free trial. on friday, verizon gets a chance to chronically underperform again. traders think 7% yield can aktd act like a trampoline. i kind of like -- i don't have much faith in verizon. we hear from am ex.
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i come on here and tell you to buy it. after its run the last few years, you would think when the ceo talks, people would want to buy, not sell. i say, so what? we will catch it when the fools say good-bye. here is the bottom line. as you wrap up the biden administration, even though i've been critical of his approach to business, stocks have done well. the dow is up 41%. the s&p is up 58%. the nasdaq, 49%. any other president would be proud of that track record. the fact that biden seems to not be, maybe it says pretty much everything. why don't we go to mohamed in arkansas? >> caller: hi. >> what's shaking? what's happening? >> caller: i've been watching the show over 15 years. >> thank you. >> caller: my stock today is abbvie.
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>> i gotta tell you, i think you got the cheap one there. here is the problem. people hate these companies. what you have to do -- buy is, but be patient. the drug companies are in the dog house. that one is, too. wait until it goes over 4%. i feel like going to tom in washington, d.c. >> caller: thanks, jim, for all you do. you made a huge difference in my financial life. >> thank you. >> caller: wondering what you think of sre. >> i think sempra is a buy. i think that -- this is jeff martin. he is bankable, bankable. i want you to own the stock. go to tc in new hampshire. >> caller: jim, thanks for taking my call. >> thank you. >> caller: learning every day from you. i want to understand your view on the business for oracle and buy, sell or hold. >> i screwed up on oracle. i sold it and it moved up. i don't feel like i'm as good on
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it as i should be. others are better. last quarter was just okay. sometime u.s. s you say, i'm no call. on the last trading day of the biden administration, it's worth noting stocks performed well during his tenure. maybe it says everything that he doesn't seem proud of it. tonight, earning season is in full swing. i'm looking at reports from major names and highlighting standouts. i had a chance to check out included health. i will bring you the conversation, pretty cool. the supreme court saying a ban could go forward on [stopwatch ticking]tiktok. stay with cramer. >> don't miss a second of "mad money." follow on x. have a question, tweet cramer.
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send jim an email. give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ at state street, we know everyone's trying to get somewhere. ♪♪ take the next step toward your future, by investing in the s&p 500 with spy. getting there starts here.
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this week's earning seasons begin in ernest with reports from the major banks. along with two huge investment banks. there was concern the banks, which had rallied hard after trump won the election, might not be able to cope with the action in the bond market. there was a fear rising long-term interest rates might cool down the economy and do real damage to the financials. it rns out wall street had nothing to worry about.
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the banks, they are doing great. you should try to walk through these one by one. because we have major financials in a single week, we will split it into two segments. national banks first. start with jp morgan which got things going wednesday morning. it reported a terrific quarter. huge sales and earnings beat all three of major business units came in better than expected. the biggest source was the commercial and investment bank. 18% revenue growth. that's amazing. driven by a 49% increase in investment banking fees and 21% increase in market revenue. those are incredible numbers. a lot of people were worried about jp morgan spending. the overhead ratio, the cost divided by revenue, came in below expectations of 53%. you want that number lower. that's extraordinary. there was good news in the
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limited guidance for 2025 as the company raised its full year net interest income by $1 billion while keeping the expense guides unchanged. the ceo said businesses are more optimistic about the economy and they are encouraged by expectations for more pro-growth aagenda. music to my ears. it was an incredibly positive update. it's no surprise the stock is up. wednesday morning we got results from wells fargo, which i own, for the travel trust. wells missed expectations slightly on the top but delivered a large bottom line beat. fees were a little light. wells had nice growth from investment banking, up 59%. investment advice fees and brokerage commissions up 15. the bank did higher than expected expenses but benefits from lower than expected net
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charge loss and provision for credit losses. the credit quality is terrific. i love that. wells managed to maintain its aggressive buyback. i would say incredibly aggressive buyback. repurchasing shares worth $4 billion. that means last year they retired 9% of their share count. when you buy back stock that fast, it's only natural to put up big earnings per share. there are fewer shares. on top of that, management give a better than expected. they talked about $2.4 billion in gross expense reduction. another unheard of figure. what we got from wells fargo was good. which is all we needed for this bank, still very much mounting a comeback. trump is expected to have a lighter hand on regulation. i bet it's one of the best holdings out there. citigroup reported a solid quarter as well. it's doubled from its low 2023 lows.
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the company's stock spent over a year getting its act together while delivering steadily improving numbers. the fourth quarter report represented a solid update. this was a nice top and bottom line beat. it saw growth in all but investment banks beat expectations. sales and trading, up 36% year over year. that shocked me. the costs remain under control. the credit quality metrics were in line with expectations. the highlight as i see it was management's outlook for 2025. the best of all the banks. citi gave the most forward looking guidance. almost all of it was positive. the revenue forecast for 2025 was above what wall street was expecting. they are guiding up from net interest income to be up modestly. reporting expenses should be slightly lower. yes. credit losses should be in line with 2024 levels. as a bonus, they expect revenue growth to continue. management announced a new $20
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billion repurchase program. no wonder it popped. a buyback is huge. even for $150 billion company. it looks like the ceo is really turning this around. i have been guarded about citigroup as they did so poorly so wrong. i've been right. this stock is by far after this quarter the cheapest. if the company can keep delivering solid results, i think this has more upside. bank of america reported yesterday morning. a modest revenue beat and solid earnings beat. all four segments. the efficient ratio, a key measure of cost control was better than expected. worse than what we got from jp morgan. this is the second largest bank in terms of expense control. still, better than expected result is a better than expected result. i'm not going to quibble.
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looking forward, bank of america's net interest income outlook for 2025 was better than expected. it's just an okay quarter. miss from sales and trade ing w glaring. there are underappreciated aspects like improvement to the composition of the investment portfolio. this has been a quiet low level risk for bank of america since the crisis. it never became a problem. doesn't look like it's going to be now. maybe this is all you need to know. the stock rallied more than 3% this week. almost all that came on wednesday in response to the reports from the other banks. not yet, bank of america reported. looking at the four biggest nationwide banks, jp morgan is doing great. bank of america is doing just fine. all today, the industry is in terrific shape. i want you to stick with cramer to hear about the gigantic
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profits of the investment bank. >> coming up, cramer breaks down earnings from goldman sachs as his big bank earnings recap continues next. when the temperature drops... you've got two choices. close your eyes and think warm thoughts. or open your eyes and get out here. there's only one vehicle lineup that embraces everything the cold has to offer.
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the official vehicles of winter. jeep, there's only one. right now, during the jeep start something new sales event, get 20% below msrp for an average of $13,000 under msrp on 2024 jeep gladiator rubicon and mojave models.
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(traffic noises) (♪♪) the road to opportunity. is often the road overlooked. (♪♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. tonight, before we get to
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the long holiday weekend, i want to walk you through the earnings from the major banks, because for the most part, they were fantastic. before the break, i covered the big four national banks. now the two major investment banks. first let's talk about my former employer goldman. a stock we own. we used to own morgan stanley. right now, i prefer goldman. i think it's going to be right. for years, morgan stanley was a better bet. traditional investment banking wasn't doing well. now that is on fire. goldman is closer to a pure play, which is what we want. sure enough, when goldman reported wednesday morning, delivered the biggest surprise of any of the major banks. they earned $11.95 per share. think about that. it's colossal. the earnings more than doubled
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year over year. everything worked out great for goldman, starting with global banking and markets. 33% revenue growth and beat expectations by nearly $1 billion. within global banking and markets business, fixed income currency and commodities, trading was up 35%. equity trading is up 32%. even the catchout all revenue line, up 285% year over year. the other two segments, asset and wealth management, up 8%, crushing estimates thanks to higher management fees, higher net revenues in private banking. platform solutions, that's the stuff that the consumer business that goldman has been laying out of. it was up 16%. it's time to go. the operating expenses were down 3%. perfectly in line with the estimates. goldman's efficiency ratio was down more than 15 percentage points from 75 year. below 67% that the analysts were
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looking for. that represents incredible expense control. the lower the percentage, the more money flows is the bottom line. when you have monster revenue growth and control costs, you can put up a cellar sell stella beat. it doesn't hurt they bought back $8 billion worth of stock, including $2 billion last quarter alone. they were positive about the outlook for the future. there it is. there's also a significant backlog from sponsors. private equity firms looking to do deals. overall increased appetite for deal making supported by improving regulatory backdrop, the moment biden's antitrust enforcers will go, we will see
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mergers. they will be printing money. overall, it was a powerful report from the best investment bank. no wonder it's up almost 12%. i bet it has more room to run. the ceo got $80 million to invest to stay on for another five years. i say i'm fine with these large pay packages as long as the shareholders are rewarded. have we ever been rewarded here. i own it.stanley. given we just sold the stock, this feels like reviewing your ex. i will tell you morgan stanley is doing terrific. like my new girlfriend goldman, it finished up nearly 12%. one of the best performers. morgan stanley delivered a big revenue beat and big earnings beat.
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investment banking and sales and trading saw a 47% revenue growth. equity revenue up 51%. fixed income revenue increased 35%. your eyes glaze over. these are extraordinary. higher asset levels. the cumulative impact. the smallest segment, investment management, up 12.2%. the catalyst was higher assets under management. higher market levels. the stock market went up. morgan stanley had strong expense control. that's down from 84% a year ago. that number hurt when that was reported. this is expenses divided by revenue. lower is better. all told, the numbers allowed morgan stanley to earn $2.22 per share. wall street was looking for $1.7. these are incredible.
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the investment banks are at a golden age. trump hasn't even been sworn in. once his regulators take over, the sky is the limit for these guys. let me give you other high lights. client assets reached $7.9 trillion across two asset management segments as morgan stanley continues to march told the goal of $10 trillion. the return on equity of 20.2% was well above the 15.4% number that analysts were looking for. that is huge. when the ceo is entering the second year. he he is saying morgan stanley momentum across all businesses. the opportunity for m and a, the pipeline is the strongest it has been in five to ten years, maybe longer. this is incredible. when i think about what we heard from all six major banks that i have reviewed, one thing stands out that's how gettable these moves were. i have been talking about the banks for as long as i can
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remember. we bought a couple big for a couple ages. now goldman sack hs. i have been pounding the table on the two top tier, goldman and morgan stanley. this comeback of capital markets activity has been happening in plain sight. i think wall street was very right with the first instinct that banks will benefit from the trump administration. so many got spooked out of the bank stocks in the weeks afterwards because they have an obsession with the macro environment, the fed and the guessers. that was seriously a mistake. the good news, despite the gains for the banks this week, the stocks have a bit more upside. those earnings explosions, all they did was make the earnings multiples low are than we think. lower than the rest of the market. bottom line, if you don't yet own any of these banks, i want you to pick up at least one to two. wells fargo and goldman sachs,
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both cheap. it would have been a benefit from any of them. the industry is just that good. jake in new york. >> caller: how are you? >> i'm doing okay. how about you? >> caller: i'm chilling. it's a friday. >> all right. five inches of snow here. it sounds cool. what's going on. >> caller: i'm a big fan -- i'm sure you are -- of jessica tisch. i was checking in on some stuff. they used to have this superstar ceo. he is leaving. i'm irked with the fires and stuff. i don't know necessarily i want to go into insurance. >> i get it. it has been -- i totally understand the bloodline, it's not the one i like. i like chub. these where i want to be.
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i'm not crazy about the book. i'm going chub. i need to go to joe in new jersey. >> caller: hello, mr. cramer. thank you for having me on. >> my pleasure. what's happening? >> caller: for stressing on the importance of diversification. i love that. that's what keeps me in. >> excellent. >> caller: i have owned visa for a few years. it has gone up considerably, over 200%. if the new administration lowers the maximum interest rate they have been talking about at 10% on the credit card companies, can it hurt the credit card companies? >> no. i think it will be fine. maybe more. what's the stock? what stock? visa. visa is terrific. it's bulletproof.
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if you don't own any of the financials, i would pick up one or two. the industry is that good. i got more "mad money" ahead, including my off the table exclusive with included health. you do not want to miss this. what does the supreme court ruling on tiktok mean for free speech and social media? you won't want to miss my take on today's news. rapid fire and the lightning round. so stay with cramer.
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the great barrier reef. huh? here we are. oooh. — g'day. — uh, where am i? australia! and you look like you need a vacation. show us what ya got. (♪♪) remarkable. yep! it's amazing. i love it! — what is it? — a wombat. come on! (♪♪) jump! down under, g'day is the start of every good adventure. so, what are you waiting for? come and say g'day. (♪♪) earlier this week when i was at the jp morgan healthcare conference in san francisco, i sat down with included health.
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that's a privately held healthcare services platform. several major players as clients. i like speaking with private companies. many are on the cutting edge of their industry. included health's platform uses virtual doctor visits to help big companies save money and give employees personalized advice. earlier this week, we sat down with the co-founder and ceo of included health. take a look. we are thrilled to have you. please tell us what included does for me. >> included health is the personalized online health care solution. all of us go through stuff. we have to find a doctor for it. we have to call our insurance company for it. we have to find the pharmacy that would ideally have the product that will provide a solution. we bring it together. for members, we offer the best of a world class healthcare
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system with advocacy and concierge services. >> you raise a word so important, advocacy. people feel they have no advocate when they navigate the season. how can you do it? >> it's amazing we have to bring these terms to healthcare. navigation, advocacy. the average american is outmatched. there are 11,000 words in medicine and in healthcare and insurance. they need about 5,000 words for their daily lives. what we do is stand on their side to make sure bills are paid for, they get access to drugs they need, that they have access to world class primary care whenever they need it, mind, body and wallet, medical, physical and everything in between. >> you have a huge number of live, so to speak -- i don't know people who don't know you. salesforce.
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wells fargo. southwest. walmart. walmart had a health feature in its stores. they said it was too expensive. they are your partner. they can partner with anyone. what do you do for the average walmart employee? >> they are incredible. what most people don't understand about walmart is that they are insanely driven by having high quality benefits for their associates and making sure with us. we will give you access to our million associates to try primary. keep people out of the hospital. keep people healthier. they have to love it. they have to tell us on survey that they love it. we hit all of those marks. they were new to the nation. we drive behavioral health for them. >> congratulations. that's a big deal. doug has a touch. i feel doug is constructive. once his employees do better than they have, this is the kind
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of feature that can do that. >> doug, his board and his management team, are visionary on this. they understand, like so many of us, if you look at expenses that are operating in fortune 500 healthcare companies today, the least tamed, most divisive and most problematic is the healthcare benefits. they said, if we compete the way we have and provide value the way we have, we have to make sure our benefits make sense. >> let's say i see my bill and i don't understand. there's a $500 bill. do i text you? >> text us. you can call us. you can't send out a passenger pigeon to notify us. maybe in the future. the included health and, doctor, on demand apps are great ways to start. we go to work in the background making sure you haven't been overbilled. dollars are rightfully returned. that you are getting access to the care you need. are you diagnosed properly? are you getting world class treatment? if you are not, we work on those problems. >> how do i know that my doctor
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will be empathetic? i'm part of this empathy project with my primary care. i want to know whether the doctor is empathetic. do you know whether people are good and kind? it matters. >> one of the most incredible gifts of having a virtual first solution is that we can measure quality like it's never been measured before. do people come back? do they like it? have they listened? let me tell you something else. we have been here at jp morgan all week. things have been busy. you have been hearing ai. have you heard eq plus ai? >> no. >> i think when we get sick and we need care -- we hear this from members. they want eq plus ai. they want the best computational firepower to make sure they are getting evidence-based care. they want people who care about them and demonstrate that they care about them. they don't want to be treated like another number in the system. >> how can we be sure that somehow we get healthcare costs
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down? you have written the most eloquent things on glp-1. it could bankrupt the system. maybe it's good. we know healthcare is not necessarily run the way that you guys do it. what can we do? >> unfortunately, it could bankrupt the system and these are helpful drugs. >> isn't that incredible? >> it is. i'm a proud american. we have the best platforms for these things. still, it's got to make sense for the right patients at the right time. it has to get them better. we can agree on that. where companies and other group purchasers ask for our help is make sure we are getting the best possible care, take care of the member. don't just do it because it's just another thing to throw at these people. they are overwhelmed by so many choices that don't work. that's where we stand beside our clients. >> you know that if it's just for vanity, it's no go. if you can get it so it's blood
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pressure, co -morbidity -- >> we know glp-1s are effective. some of the best drugs invented in my lifetime in attacking core problems. we think -- we think they will be great for arthritis and other diseases. >> down the line. >> we don't know that yet. where we stand on the side of evidence and alongside our experts at these institutions across the country is, let's make sure we apply it for use cases we know work today. that's not only appropriate for health. it's appropriate for the bottom line. >> i'm going over. but one last question. have you had a chance to speak to bobby kennedy junior? >> i have not. >> i would reach out to you immediately. >> great. i think what i'm hopeful for is people want to make america healthy in all the ways. i think that's a support statement that we should all send out to the world. the question is how we do it at scale. >> you have dangled the idea of an ipo. we would love it. there are so many people who use
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it. they would like to be part of friends and family. >> over 30% of the fortune 100 today and a lot of happy members were excited about where we go from here. >> excellent. thank you. co-founder and ceo of included health. a writer about the system. some of the most cogent stuff i have read. thank you so much. we will be back after the break. cramer takes your calls. the sky is the limit. it's a fast fire lightning round next.
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it is time. the lightning round. are you ready? i will start with rafi in florida. >> caller: i am thinking about buying to add to my portfolio. >> put half on. i like his attitude. let's go to drew in ohio. >> caller: jim, how are you doing? >> wow. i like it. >> caller: i want to talk about louisiana. the last three - quarters is do
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the last few quarters. the balance sheet is a plus. the earnings is questionable with the new trump administration and the home builders. i want your thoughts. >> i gotta tell you, you will have a huge rebuild in the south and california. the numbers for housing are okay, not great. it's been a horse. it's been a great stock. you have to stick with it. let's go to susan in massachusetts. >> caller: thank you for taking my call. thank you for making me and my husband happy and financially secure retirees. >> if i have done that, i did good. thank you. >> caller: you sure did. given the new department of government efficiency and the dependence on government leases, can you give me your opinion on
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the prospects of -- >> it's tough to tell what they own and what they do. that makes me very, very shy about it. don't buy. squirrel in maryland. >> caller: hello. how are you? >> i am doing well. what are you up to? >> caller: i need nuts for the winter. how do you feel about see? >> i have always liked that company. i do think that -- i like it. i'm going to tell you, you think it's a good stock, because it's way down from where it used to be. go to bill in massachusetts. >> caller: real quick, i want to say how phenomenal you and your staff are. >> staff is amazing. just amazing. what's going on? >> caller: i'm enjoying the club. it missed in the second quarter but came back in the third.
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i want your opinion on high dex labs. >> too inconsistent. let's go to chad in wisconsin. >> caller: i'm feeling pumped up. first time caller in the lightning round. >> fantastic. >> caller: there's a ceo of this company that's saying there's sizable tailwinds in the ai for this company. i gotta say i'm looking back on the earnings calls, they're not massive beats. they are definitely beats. this stock has gotten beaten up. i had to call and talk to one of the best in the game to get his opinion on this. this stock is ticker adbe, adobe. >> okay. i think adobe has come so far down that it's just -- i'm going to call it a buy.
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i may look back. i may be criticized. people may think, what the hell is he talking about? i want to own some adobe. tempted at my thursday meeting to -- monthly meeting -- gotta talk to jeff. tyson in north carolina. tyson. >> caller: jim, how is it going? >> good. how about you? >> i'm doing great. >> caller: i was wondering about the chemical uranium stock. >> if you own ccj, that's the one to own. i don't want to. i see no rebirth -- you have to open a three mile island. it can't be built soon. i don't think it's a growth business. that, ladies and gentlemen, conclusion of the lightning round. >> the lightning round is sponsored by charles schwab. coming up, the supreme court has
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spoken. tiktok's time may be up. stop scrolling, because cramer is giving his take next. knock, knock. #1 broker here for the #1 hit maker. thanks for swingin' by, carl. no problem. so, what are all of those for? ah, this one lets me adjust the bass. add more guitar. maybe some drums. wow, so many choices. yeah. like schwab. i can get full-service wealth management, advice, invest on my own, and trade on thinkorswim. you know carl is the only frontman you need... oh i gotta take this carl, it's schwab.
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now with genmoji. that's a value of up to sixteen hundred dollars. only on verizon. (vo) fargo is your virtual assistant from wells fargo. (woman) oh, come on! come on! (vo) fargo lets you do this: (woman) fargo, turn off my debit card! (woman) i found it! i found my card! (vo) and also, this: (woman) fargo, turn on my debit card. (vo) do you fargo? you can, with wells fargo. what else can fargo do? quickly tell you what you spend on things like food. (dad) fargo, what did i spend on groceries this month? (son) hey dad, can the guys stay for dinner? (dad) no... (vo) learn more at wellsfargo.com/getfargo. i'm not happy with the way that pg&e handled the wildfires. yeah. yeah. i totally, totally understand. we're adding a ton of sensors. as soon as something comes in contact with the power line, it'll turn off so that there's not a risk that it's gonna fall to the ground and start a fire. okay. and i want you to be able to feel the improvements. we've been able to reduce wildfire risk from our equipment by over 90%.
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that's something i want to believe. [skateboard sounds] today i got the benefit of what i thought were three wasted years at harvard law school. that's all i could think about when i was reading the supreme court ruling that tiktok has to
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go or be sold. i don't think i read such rongl life. there's been confusion about how the government could handicap free speech by banning tiktok. the court explains how that is nonsense. the ruling has nothing to do with free speech. it has to do with following a good law that says among other things if a site violates national security it can be shut down. it's owned by what congress considers a foreign adversary and it tries to influence users with covert content manipulation, then it violates national security. same for the fact they are collecting data on all of the american users. this was a simple case. the people's republic of china trying to win over the country and influence their opinions. you are allowed to public whatever you want online. that doesn't mean a foreign power can manipulate their own social media network here. people continue to yap about how this restricts free speech. that's wrong on the face of it.
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so many seem to believe that any product with videos that were viewed more than 13 trillion times in 2023 cannot be denied. that doesn't matter to the supreme court. what matters is national security. it can't be overrun because kids love tiktok. how is it right to shut down a site cheered by hundreds of billions of people? there's no problem with people watching the videos. congress passed a law saying it can't be owned by a chinese company that collaborates with the chinese government. that's what the case was about. if another buyer with no connection comes in, takes it over, shuts down the data link on china, then it's game on. if an american social media company wants to manipulate their own algorithm, that's legal as long as they aren't working with a foreign adversary. that's the only way the problem can be solved. what needs to happen? i know that tiktok could be worth $300 billion. what's the american portion of
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business worth if america shuts it down? how much are the chinese google rights are worth when they ban? very little. i know donald trump wants to be involved in fixing this. i got the solution. all he has to do is say to china that as long as the banned google and facebook can operate in china, let them in, and let's throw in "the new york times" and "wall street journal," then he will be happy to find tiktok a domestic buyer and get the legislation rewritten. you have to let us in. the only choice is to force a sale. make a deal with meta. why not? i believe that met's reels will get all the developers it needs to take over the entire business. tiktok's u.s. business won't be worth much at all six months from now. sell now. the prc, there's no time like the present to sell out. the people who run tiktok and
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give it to someone in the u.s., sell out. they will get more money now than if they wait mark zuckerberg to eviscerate tiktok. the ban remains, which is what this competitor and game hunter will do. there's a bull market somewhere. i will find it. see you next time. steven palladino runs a family ice cream shop and is trusted by his tight-knit boston neighbors. >> they loved him. he was the pillar of the community. >> narrator: he even lets his close friends in on a great money-making idea. >> he ran a multimillion-dollar financial business out of a small office over an ice cream store. >> narrator: but palladino is hiding a dark secret. >> i want to talk to you about viking financial. >> investors in viking now wonder if this is a mini madoff situation. >> he needs to answer where our money is. >> there's so much greed in this case, so much money.

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