tv Mad Money NBC December 22, 2015 3:00am-4:00am CST
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>> have a great one, everybody. >> nice talking to you. >> all the best. best. 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. my job is to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you money. my job isn't just to entertain but to educate and teach you. call me at 1-800-743-cnbc. or tweet me @jimcramer. as 2015 draws to a close, i believe we will look back on the last 12 months and declare it, declare it the year of the haves and the have-notes. today the dow out of nowhere
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the gulf between the winners and losers. these examples will rip your eyes right open. first we had three winners on the web, alphabet, expedia, and facebook. alphabet, formerly known as google, rejuvenated itself after amazing cfo work at morgan stanley. 2016 will be the year when they really monetize youtube which is worth a heck of a lot more money than it seems. facebook remains a money machine. they're a virtual monopolist on yourself. only instagram can stop them now, and facebook owns that too. expedia has become the modern way to travel but there are some
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owns a stake in ali baba. twitter is off 38% for the year. it seems whatever the company tries they just can't grow the darn thing. it's a good core business but maybe for someone else. the individual slices and dices of the web were downright awful in 2015. yelp is down, it seems like it's lost to competitors. groupon is down 63%, still too early to buy that total dog. truecar has fallen. zillow's shares have been sinking like a stone from $33 down to $24 in only two months. i felt it was mystifying. we see the same remarkable haves and have-notes situation in the
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two years ago i don't know if you would have considered ge an industrial. you might have said it was a manufacturing company. now that ge is the entire financial business with the remainder being sold off in january of next year, its stock rallied 20%, the best organic growth in the sector, a remarkable transformation. the other side, eton is off 25%. emerson's down 26%. caterpillar fallen 29%. the first three, they seemed like real winners versus the machinery makers. manitowoc down. joint global down an astounding 73%. it's pretty inexplicable given the fact that they're in the same business at ge. i think they just failed to execute. caterpillar looks more like the big losers because it has
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that's faltering. cummins is the real outlier here, a truly fantastic company. truck engines just don't seem to be selling, again, a huge business in china. navistar has plunged 76%. retail is all about amazon. that's up an astounding 114% year to date. you have to imagine it's taking huge share from macy's and dillard's, both down 47%. best buy off 24%. then there's a real casualty, walmart has lost 31% for the year. yes, i truly do believe amazon is the culprit. the mall does also seem to be dead as a door nail. of course these retail losses
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in the apparel category. decker's off 48. pvh lost 43%. ralph lauren sunk 43%. people aren't buying apparel. the only accessories that are flying off the shelves are tools. home depot rallying. and sneakers. the supermarkets present another stunning dichotomy. the everyday grocer, kroger, is ahead 28% this year versus supervalu, off 33%. whole foods down 35%. fresh market has lost 43%. when you consider they all sell pretty much the same foods, that's an incredible disparity, isn't it? restaurants used to pretty much trade together. that's a thing of the past. the winner here is mcdonald's, up an amazing 26% to date. olive garden, 21%, not too shabby.
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chipotle, which has lost 24% of the year because of both the disease outbreaks, they said there was no more but there's some reports after later today that there could be some e coli-like, maybe a different strain, problem. chipotle is not alone. abbott's down. el pollo loco is down. shake shack a big winner. can new management mean that much for mcdonald's, outperforming so many losers? the answer is yes. you have to go back to when you went to the dentist's to read "highlight" magazine. time warner declining 26%. viacom pulverized, 48% loss. netflix soared 139%. only disney is in the middle on
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they'll do better no doubt after the success of "star wars." the stocks are being beaten up when analysts are endlessly that cable losses will account for the movie profits. oracle off 19%. people didn't like that quarter last week. it's not growing fast at all and is very cheap. you can see what the market prefers. what conclusions can we draw? i think the first and most important take-away is that sector-based etfs are totally repudiated by these numbers. the haves are lost within the have-notes. the internet has destroyed pricing for a whole bunch of industries. the gulf between twitter and facebook and yahoo! is stunning, it's fallen behind so badly. when you look at what kroger has done to the organic foods
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for its own, they have most likely cracked the code. awesome management. finally, you have to recognize that some business models may simply not be working anymore. is the traditional television and cable market under siege? is it all netflix? no. viewers are spending leisure time differently. here's my bottom line. whenever my travel trust buys want to ask, who is coming in, who has a toehold? it's very rare for a have-not to become a have. witness the nature of mcdonald's versus chipotle. when it happens you better take notice or you may find yourself on the wrong side of not just the trade but the actual investment. i need to speak to maybe it's a staff member.
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>> caller: happy new year, how are you doing? >> right back at you, how are you doing? >> good. under armour, i'm holding it at a loss and i'm wondering why under armour has declined over 20 plus percent from its november high and do you think ua will trace its highs or should i move on? >> i take a long term view. this was not a good fall for under armour, it was just way too warm. they have a lot of clothes that make you feel warmer and it's chilly out, and this has been ideally bad for them. don't give up on them but accept the fact that it could go down even more. jason in california. >> caller: hi, jim. i've got some gamestop at about 40. it looks like i've taken a 25% hit. i'm wondering whether to sell it, keep it, maybe even buy more. >> it is so hard. this company came on, paul reins has all these different things going on.
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stock. i do think paul raines is good, i hate to tell you to get out of it. the quarter was bad, i don't know, to sell it seems wrong to me. larry in massachusetts. >> caller: just returned from my wife's birthday cruise thanks in large part because of your sound advice over the last few years. >> i'll take it, that's what mom always told me, buy and get it off the table. >> both mobile and harmon are down. with the automatic emergency breaking mandates and elon musk reaffirming his need for the somewhere, do you like mobileeye or harmon? >> mobileeye is very expensive. thank you for the kind comments. it's expensive but it's working.
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i just bought some more stuff for my daughters, i love harmon stuff. but everyone figures that apple is going to come in, 2016 is the year when they take over the brains of the car. apple is a fearsome enemy. apple needs some recurring revenue away from the phone. i wouldn't be surprised if it's the car that is the real assault in 2016. gary in wisconsin. >> caller: hey, jim, thanks for taking my call. >> of course. >> caller: my question is about blackberry. i made some good money from them in '07 ands '08. i've heard some good things about them. >> i had written them off, and i have to tell you, i was in on that conference call and it was pretty darn good. can they prosper? they have a lot of cash and intellectual property. i no longer think this one is necessarily going to be doomed.
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if you say, would you, jimmy kept me out of it, oh, you tire me. this year was the year of the haves and the have-notes. when the have not becomes a have, you better take notice. on mad money tonight, eat, drink and be merry with the holiday season in full swing. i'm sitting down with the ceo of one of my favorite spirits companies. it wasn't long ago that many were pushed from the agriculture group. but is this market no longer a friend of the farmer? and your dentist likely loves this company. and with the way it's cleaning up on wall street, maybe you should brush up on the stock too. i'm revealing it, just ahead. stick with cramer. >> don't miss a second of mad money. follow @jimcramer on twitter. have a question? tweet cramer #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something?
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that forms a protective barrier that helps keep stomach acid in the stomach where it belongs. for fast-acting, long-lasting try gaviscon . >> like i told you repeatedly, every december my madders tend to annoint the best performing stocks as winners and buy them a week through the end of the year. and this process hasn't stopped just because so much of the
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so who makes the annointed list? how about long time cramer fave constellation brands, the world's leading proveyer of premium wines, as well as being the number three brewery in the united states. you know them as the company that sells corona, modelo, pacifico. three favorites of my brooklyn small plate mexican restaurant. but with robert mondavi, wines, not to mention some of the harder stuff like personal favorite casanova tequila and svedka vodka, we got them all right here. constellation is an incredibly well run company that also happens to be a serious deal maker. last month they spent roughly $1 billion to snap up bowls point brewing, one of the fastest growing players in that red hot craft beer space. back in august, constellation announced a new venture capital initiative. they're using it to identify smaller scale investment opportunities like craft house cocktails, the maker of ready to drink cocktails. the company bought a minority stake in it at the same time. now constellation has already given us a juicy 44% gains for the year and i think it could have a lot more room to run long term. but don't take it from me, lets check in with rob sans. he's the president ceo of constellation brands. find out more about how his
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headed. welcome back to mad money. good to see you, sir. >> hey jim. >> thank you rob. have a seat. first i guess it's congratulations in order. this is your 70th anniversary. has it changed more in the last 70 years than it did in the first 63? >> the last seven years have been a good seven years, jim. yes it is. it's changed a lot. look at this portfolio. >> all new stuff, right? >> a lot of it is new stuff. >> now you are the only company, and i went through my list. the only company that has cost down commodities being a tail wind and has pricing. why? >> well, we got terrific brands. that's really the bottom line. and it's all about brand building, right? brand strength, it's all about not only having strong sales. strong sales, growth, but also being able to take pricing in the marketplace. you know, increasing costs because that's one of the thing that we're going to have for sure. >> now, at the same time there's a huge percentage of the increasing fear that belongs to
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>> yeah. we're the fastest growing major beer company, for sure. we're providing basically, other than the entire craft industry, we're providing most of the growth in the entire beer market with our brands like corona and modelo. growing high double digits okay. and the second largest import in the united states, behind corona which is the largest import and also growing quite rapidly. >> demographics, ad campaigns, word of mouth, better tasting. >> i think it's all that, but look, the product is extremely drinkable, first of all. people love to drink corona. they love to drink modelo especial. and then it's consistency of the message. people know what the product is all about. they understand it. they've seen it for years. they know when to drink it, where to drink it, how to drink it.
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back to how do you build successful brands? >> how about it brand? this is a brand. this is very different from the traditional, but it's big for you guys already, right? >> yeah, ballast point. that's our new craft. we closed, in fact, last wednesday on that deal. and look, the craft segment -- >> they've won. >> craft segment. fastest growing segment in alcoholic beverages today. ballast point, fastest growing significant craft brand in all of craft. grew 144% last year alone. >> that's extraodrinary. >> and it's all about ipa, for instance. the sculpt that you see right here is - it's signature ballast point signature ipa and it's one of the hottest products out there. >> speaking of hot product, this is my favorite tequila. i've told you that. but this was a steal, i think. this is the brand - this is the
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a fortune. >> it's a good value. casanova. i think it's one of the best brands. casa noble and iri posted was the number one growth brand in super premium tequila in the most recent periods. >> that's incredible. >> number one. every time we've ever done tests, candalia always wins and that's against some very expensive tequilas. >> absolutely. >> this is the number one pinot noir grower. >> yeah, mark west is a hot brand. >> pinot noir. >> it's a hot category in wine. and why is that, you know, it's people like red, red is bigger than white. >> right. pinot noir is more fruit forward easier to drink red. people can eat it with any kind of food. it's an easily consumed product.
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extremely hot. >> right. >> that you just purchase this. >> number one luxury wine -- >> this. >> in the country, period. of any wine. >> amazing. now, this is a new one. this is the hottest category in whiskey. >> well, that's a new product that we actually just invented from scratch called serpent bite. it's combining a lot of things that are extremely popular. >> right. >> brown spirits. >> apple cider. you know, for example, cider's a hot category. shots are a popular thing. in the cocktail culture. >> they sure are. >> and this is a product i think it's going to be successful. >> right. >> cans. people love a can? >> hey. we call it the year of the can. >> yeah. >> us here at constellation. so let's talk corona.
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>> six largest beer brand in the united states, period. only a very small percentage of that particular product is sold in cans. >> right. >> it's a huge opportunity for corona when you consider over 50% of the beer industry is cans. and also, cans are becoming a package of choice in high-end beers. so you're seeing craft choose cans and it's a big opportunity for corona because it allows corona to be consumed in many venues and places now where glass is not permitted. >> right. >> it was a very small percentage cans. it's about 6% cans now. our total business is about 25% cans when you include modelo. so cans are going to provide a lot of growth to in the near term.
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traditional beer. i'm looking at cider. which is the fastest growing? >> let's see. i'd say miomi. >> pinot -- >> well, in wine, it would be meiomi. >> that's unbelievable. >> 144% growth in the latest 52-week period. it's got to be the fastest growing thing on the table here. almost everything you've got here is growing fast. dreaming tree. interesting product. joint venture here next to the mundavi. joint venture with dave matthews. dreaming tree is his song. he owns half the brand with us. one of the fastest growing products in that particular price segment. and, hey, you know, it's dave. >> it's a winner. >> dave loves this product. and dave has millions of facebook fans. >> boy, i've got to tell you, you've done everything right. congratulations to rob, "mad
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coming up -- >> they're hiding everywhere. from energy to infrastructure. the market's worst merchandise could be lurking in your portfolio. cramer's found a warning sign that could help you steer clear of the stocks. and he's revealing it just ahead. (cell phone rings) where are you? well the squirrels are back in the attic. mom? your dad won't call an exterminator... can i call you back, mom? he says it's personal this time... if you're a mom, you call at the worst time. it's what you do. if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. where are you? it's very loud there. are you taking a zumba class? man (sternly): where do you think you're going? mr. mucus: to work, with you. it's taco tuesday. man: you're not coming.
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we learned they would break up the combined company into three separate entities one of which would leapfrog monsanto to become the lead provider of crop protection products. i love this dowdupont deal. but let's not forget that the whole agriculture industry has been pretty dire straits lately. not that along ago wall street adored this group thanks to the feed the world thesis. the idea was as long as transportation infrastructure was improving there would continue to be a lot more demand for food and everything else needed to grow crops or keep livestock healthy. in short it was supposed to be a secular growth story, a huge, long tail wind. instead the group has become
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starvation, which begs the question, what the heck went wrong here? look at the total collapse in crop prices. as the agricultural commodities have been crushed along with virtually every other commodity out there. we spent a lot of time talking about the plight of oil producers but farmers are in pretty bad shape too. corn producers have collapsed. since then despite a couple of attempts at a come back, it's currently trading at $3.72 a bushel, down from its highs, ouch. how about wheat? we peaked at seven bucks and change a bushel. it fell off a cliff. it's down 34.5% from its highs. what about soybeans? doesn't everybody love soy these days? apparently they don't love it enough.
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to $8.91, that's a 40% decline. those are just the three largest crops. prices are down pretty much across the board in agriculture land with the exception of sugar, which is benefiting from a monsoon in india and insane policies in brazil. these declines have translated into massive losses for the ag stocks, just hideous. farmers have very little incentive to pay up for equipment or seed when they know they're going to make a lot less on their produce. mosaic is down 40%. john deere has stumbled. archer daniels midland, the giant food processing company, is down 32% year to date. even the ag companies, agco is down 2%.
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can any of them turn around? let's go through each one. potash corporation is the world's largest fertilizer company by capacity, producing the three main ingredients needed to grow potash. they represent nearly 1/5th of the world's potash supply. how come their stock has been cut in half this year? because of the lousy global and i the devaluing currencies around the world. i think this is the real issue here.
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new ones but last year became critical. they got way too much capacity, supply has out-paced demand, leaving potash holding the bag. as we've seen with so many players in the energy space, potash has an accidentally high yield. the dividend, worrisome. nearly 9%, okay? this field is 9%, because the stock has come down so far, and many fear that a dividend cut is now inevitable. once these worries get out there, all these income-oriented investors sell and sell and sell. if you look at mosaic, suffering many of the same issuance, currency woes, and a global business when the dollar is strong versus the rest of the world's currencies.
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relating to allegations of disposal of hazardous waste. they agreed to pay a $1.8 billion settlement. it's almost like a bank. which really hurts given that their market cap is less than $10 billion. agcorp has put together two decent quarters in a row. that's because their retail operations allow it to be more flexible with its pricing. the company is still operating in a troublesome commodity business. what about john deere? their stock went into free fall this past august after the company reported a 22% decline in worldwide sales. what's even worse, guidance. it's easy to understand why. the company sells large expensive machines like trackers and combines. farmers tend to put off buying new stuff. agco sells big ticket farm equipment and farmers aren't buying. they announced brutal guidance
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so moving stock. now, the fertilizer market is glutted. equipment purchases are being postponed. what about seed? seed are monsanto's wheelhouse. they're the king of proprietary genetically modified seed, which has hurt them as consumers become more worried about gmos. the big part of pain in monsanto is the company's failed takeover bid for its european rival. despite repeatedly being rebuffed, just last month monsanto's ceo said he would consider making another approach. the company what's an aggressive restructuring plan, and that's taking some time to play out, and has led to unprofitable quarters. another even larger loss expected when monsanto reports again in early january. however, there's light at the end of the day. as monsanto returns to robust
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several new products. if anyone can transcend the weakness, it will be monsanto. but that's still a pretty big "if." archer daniel midlands was having a decent year until early november when the company delivered a brutal top and bottom line miss. it sent the stock spiraling lower. lower margins caused by the strong dollar, the market is glutted with crops. adm is an ethanol business which is getting killed now that the price of oil has gone so low. the bottom line, many of these agricultural stocks have gotten cheap after 18 months of brutal declines. but i think it's still too early to start bottom fishing in the group. my view, we need to see a sustained recovery in the actual
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these ag stocks make a comeback. the world is still plenty hungry. the farmers fed the world too well and now we've got a major oversupply. let's go to barbara. >> caller: hi, jim. new to the game. a big fan. the first stock i bought at your recommendation was dollar tree at 61.43. >> nice work. >> caller: getting pricey now. should i buy more or sell at what price? >> no, you're doing well just holding on to dollar tree. i liked that last quarter. i thought it was very good. the one segment of retail i feel great hope about with the exception of the tool companies that sell tools and of course amazon. tito in california. >> caller: booyah! i love your show, my friend. >> thank you for that. what's going on?
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>> we had a sell recommendation last week because guy felt the restaurant group where you had big clients, not doing well. i think cisco is a buy. 3% yield, that's the nice thing, if it goes lower, you buy. a good situation. sure, many agricultural stocks have gotten cheaper. be careful, still too soon to be bottom fishing. much more "mad money" ahead. with all these holiday sweets, 'tis the season for henry shy, i'll talk to the ceo. have these losers fallen enough yet for you to bye-bye buy? i'll reveal. and a rapid fire edition of the
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stick with cramer. in an environment where so much is uncertain, where is the price of oil heading, can the chinese economy make a comeback, you get a new appreciation for companies that can have nice steady performance. henry schein is a major supplier. people still go to the dentist and take their animals to the vet. they've made a small but serious
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seems to be paying off. the company delivered a nice earnings beat. three weeks ago they announced a $4.3 million buyback. it's had some solid gains in a year when the s&p 500 is down a tad. henry schein has doubled since we first started recommending it three years ago. stanley bergman is the chairman and ceo. mr. bergman, welcome back to "mad money," good to see you, sir. have a seat. every time we see you, i'm always cognizant that your company is growing. yet even though you're growing, it's still fragmented competition. you still own only 8% market sure. if you're growing, how come you're not up to 12 or 15% yet? >> that's the worldwide market. we're more concentrated in the u.s. and europe. in the dental practice area and veterinary world, the potential
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>> do you have a deductible? >> i think we're moving slowly to having more people covered by primary care physicians. remember, if you're sick in this country, you can always go to an emergency room. but the whole idea is to preventing you from getting sick. it's about wellness and prevention. we're seeing much more coverage, in other words preventing people from get sick. >> that's very positive. we hear a lot of bashing. you're giving me a different side of the story. >> there's all sorts of challenges. the big issue with the act is who is going to pay for long term prevention. long term, we'll have a healthier workforce. >> it sounds like we'll have a better idea of when to go to the vet. >> we want to capitalize on big data. we understand the patents of prescription of veterinary products and when the patient is not using that products, doesn't come back for a refill.
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is we'll make sure there's better compliance with the prescriptions issued that are so important. >> people spare no amount on pets. they're forgetful? >> they forget to renew their prescription, they forget to renew the pills. all of this stuff results in low compliance on many of the prescriptions that are issued by veterinarians. >> sounds like everybody should have that. the dentist. >> right. in the vet space we have about half the veterinarians using our you take our software with vet street's data information and we have the ability to help the pet >> all right. some questions on the conference the acquisition. you seem to think that it will be okay, won't hurt your distribution. >> we have a good relationship with serona. there's going to be better partnership with them and with our customers.
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bigger groups. >> i often struggle when i say the dollar is too strong. i see your results, when i don't look at the dollar they're amazing, when i consider the dollar it's negative. can you explain to people how unbelievably destructive a strong dollar is? >> i don't want to get into the debate about a strong dollar. >> but you look high but you're not. >> wall street has us expected to grow about 10%, but we could have probably grown at 15% because we were held back 5% because of the headwinds from the northern exchange. >> i think that's important, because i say steady eddie, and people say, jim, it looks like it's all over the place. it's because you're expanding internationally and that's where the growth is. >> particularly with the developing world, the middle class are interested in
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and of course they're investing in their pets. and are interested in protein. >> these are all growth markets. you've done a phenomenal job. i gave a talk recently, someone asked me what's the steady stock i'm counting on, i said henry schein. ""mad money" is back after the break. when cigarette cravings hit, all i can think about is getting relief. only nicorette mini has a patented fast-dissolving formula.
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are you ready, skee-daddy? mike? >> jim, i'm interested in pandora, the stock. >> they got that copyright decision, the stock spiked. that decision is money in the bank. i think it's okay to buy now. let's go to carrie in florida. carrie. >> caller: booyah, jim. thanks for all your help. gwpa. >> there's a lot of controversy about whether this drug is going to be used in many different instances. the speculative biotechs i don't like. i like biogen. i like amgen. sophie in michigan. >> caller: hello, jim, booyah to you. i have a question. i am a senior citizen. i own some gold card gg. >> no, we're not going to mess with that.
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we're going to buy gop is our insurance policy. that's the way to go. frank in michigan. >> caller: quick recommendation from you, i've owned bristol-myers, taken some profits on it. i've been watching it go up and i'm waiting now, we're seeing a pullback. is this a good time to start building a position in it again? >> it's only 2 bucks over the high. you know me, i love this stock. quinn in missouri. >> caller: i'm an investor in marathon oil. >> take a loss in marathon oil. it's just one where i said, you can only own so many oils. i don't like the balance sheet. david in new york. >> caller: before i ask you the quote, thank you very much. i'm up to $90. the one i'm calling about is, i want to buy more shares, cy.
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rogers is doing. i do believe in the company. i know he does too because he's bought a ton. that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade. (coughing) coughing disrupts everyone's life. that's why there's delsym. delsym's advanced time release formula helps silence coughs for a full 12 hours. all night...
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any better seem like they can't make it in their current forms. why do they keep seeming like they're going down every day? why don't we start with incana. the simple fact is that while they've been able to raise and save cash, there's a mountain of debt. that's too much for this company to endure. when the stock dips below $5 like it did today, the road back can be tough. this company can really use a spike in both oil and natural gas. amazingly, it's boosting production with less capital. but i don't know if the company's stock with worth going bottom fishing for. jenworth financial has a problem that management wants to minimize. instead they want you to focus on their mortgage business.
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care policies written before life expectancy took a great leap forward, particularly in home nursing care, budgeted way too low by them. they didn't see the big changes in the population or the endless rise in healthcare costs when they wrote these policies. their stock goes down even though some of their other businesses have real value. the losses are unfathomable, to me at least. they remain in big time denial mode. that said, i would welcome their side of the story, i would have them on the show any time. these days, the action in u.s. steel faces no bottom. the tentative labor deal just reached might help. the problem with these slippery slope single digit names is we can't figure out if the they're saying, don't touch me, we're going to zero. there are countless stories like that all over the place. in some ways they're emblematic of the moment. southwestern energy, a very good company, but it trades at $5 because people can't get their heads around it. a year ago southwestern bought
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while they're high quality, they kill southwestern's high quality balance sheet. i bet these properties are already worth maybe much less than the company paid for them given the absurd multi-year low of a buck why the that natural gas now trades at. all bottom fishing in the oil patch has been totally fueled. except for perhaps if you bought the big dogs, exxon and chevron. companies like gemworth have
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try alka-seltzer heartburn reliefchews. they work fast and don't taste chalky. mmm...amazing. i have heartburn. alka-seltzer heartburn reliefchews. enjoy the relief. enough pressure in here for ya? i'm gonna take mucinex sinus-max. too late, we're about to take off. these dissolve fast. they're new liquid gels. and you're coming with me... you realize i have gold status? mucinex sinus-max liquid gels. dissolves fast to unleash max strength medicine.
3:54 am
remember, we're still linked to oil. oil managed to be able to make a comeback. that's why we were able to be up. lost in the shuffle last friday, darden was fantastic, had a great quarter. carnival ccl, that took the best in show. don't forget, they have a huge advantage when oil comes down, they, like constellation, seem to be able to raise price and have their costs go down.
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