Today. With the dow jones average skyrocketing 530 points, s p 1. 32, nasdaq 1. 72, one point before more saber rattling with china. All sorts of beaten down stocks, though, were higher. While the covid19 winners, well, they got slammed theres just one tiny problem with this action we dont actually have a vaccine. Does that mean the stock market is getting ahead of itself lets unpack the issue first this rally is based not just on hopes of a vaccine but a firm belief that the whole virus problem isnt nearly as dire as we thought a lot of people feel it has been blown out of proportion by the media, and the president s right, the people feel the president s right when he says we should open up everything betting on a vaccine makes sense. Since the beginning of the pandemic they warned us a vaccine would take a long time the fastest was the mumps which took four years. Every day were bombarded about another attempt to end this nightmare. Today we heard merck is working on a Magic Technology when they were working on the ebola vaccine. Merck has a good reputation. The fact theyre getting involved is a positive they started human positives novax has seen its stock soar, even though its never been able to deliver a vaccine you have novavax, moderna, regeneron, oxford university, and scores of others theyre using Great Technology we heard from jensen wong thursday night from nvidia you have a ton of resources poured into beating this thing, plus they had Better Technology than a decade ago. Think about this they can sequence the whole coronavirus genome they can use Artificial Intelligence to model potential vaccines virtually in order to eliminate dead ends. We didnt have any of that stuff when it took four years to develop the mumps vaccine in the 60s the comparison is not relevant time frame when you have a conservative outlook like j j, i believe things are rolling along nicely. If we can beat this thing next year, its huge. We have to get through the next six months without it and i dont know about that, which brings us to the other piece of the puzzle reopening Many Americans simply arent willing to wait any more the social distancing thing theyre done with that outside of the new York Metro Area were not seeing the huge outbreaks that could shutdown local Health Care Systems so people have run out of patience for quarantine, for the mask now that states are reopening theyre hitting the beaches and bars because it seems overblown. I see where theyre coming from, until we hit the Tipping Point with millions of americans wanting to go back to normal, that is an incredible rally. It was unthinkable when the dow jones crashed to the 18,000 level. Dow is now 25,000, less than 5,000 points away from the alltime high. S p spent most of the day above 3,000 the First Time Since early march. They put humptydumpty back together again the drug stocks, the covid workers and winners sell, sell, sell. I dont agree with that, though then they move into the they take all their money i mean, these were hedge funds buy, buy, buy they go to the covid losers that can rack up gains disney, my trust owns that or the cruise lines. The cruise industry is obliterated by the pandemic. But those stocks rallied 12 to 15 today because theyre big winners if the world gets back to normal. I told you i like that norwegian cruise same with cyclical stocks. Lowes, caterpillar, chevron all the banks. The banks have been sticking up the drum for a long time fewer bad loans. Every cyclical had its day in the sun today. Steals, real estate, shopping malls, freight forwarders, fedex. And Home Builders had incredibly strong new home sales for april. Really shocked people. Down 10 , they were up slightly. Big part of the rally. It was screaming higher. Move a ton of merchandise in dutyfree stores seemed dead on arrival not that long ago, now trying to pack them in. Whats happened is extraordinary. These companies were right smack in the middle of the covid blast zone but they were able to access the Capital Markets they needed to thanks to the efforts of fed chief j. Powell the moment they said they would buy distressed Corporate Bonds by any means necessary, powell gave business the confidence to tough it out weve had no major public failures except hertz. The new narrative is simple, the recession is ending. Were looking at a fabulous vshape recovery which begs the question, is it true i think the answer is more complicated, more nuanced. We dont have a giant outbreak in the straits aggressively reopening vshape recovery is on the table. If the v is on the table, then you need to own some banks and cyclicals. There are other possibilities which is why i stress you need barbell portfolio. With some recovery winners like banks and disney, the drugs and the foods and techs that people work from home so many secular themes going forward, youd be nuts to sell these stocks, especially the semis. When it comes to remote working, the genie is out of the bottle as you will see later on in the show why not go allin the recovery thesis even though the market is roaring, 38 Million People applied for jobless benefits until they get retired were not going back to normal theyre collecting unexpanded employment insurance it runs out in july. It is hugely important and overlooked by the media. By the time that money runs out well need to see an immense amount of hiring the only hiring is huge retailers like walmart, target, home depot and amazon. The retail winners that benefit from the lockdown. Medium size businesses are struggling im shocked at the system when the Payroll Protection Program runs out of money. We want those paychecks protected thats why i like a barbell portfolio. Future is uncertain. You dont have to choose if you use the barbell. Your disney and jpmorgan and Goldman Sachs will protect you and take 2 and eli lili. Take 2 is a terrific buy down 10 after the terrific quarter that usually means it goes down another 3 or 4 and stabilizes and starts going higher. But bottom line, i may not be totally sold on this v you cant switch directions that fast could be more of a u with this much unemployment. But youve got to marvel you see marvel, at the strength were seeing especially in housing and airlines two industries that appeared to be on deaths door not too long ago. Lets go to mike in michigan mike caller hi, jim, firsttime caller thank you. Of course caller focusing on growth, shareholder. Is this stock getting out ahead of itself no, its going to be a rounding error that it went down all the way to where it is okay, its all the way up to 120. It spent a lot of time at 120 before it fell apart a couple years ago. I would buy more of this stock if it went down to 110 thats my conviction tom in florida tom. Caller this is tommy d. From sunny largo, florida im a firsttime caller and longtime listener and i want to thank you for all that you do for us little guys, even though youve heard that a million times. No, no, look, i love it im still working here im still doing this stuff its been like its like 3,000 shows, for heavens sake caller keep up the good work, my friend. Thank you caller by the way, this is a belated birthday present for me. I just turned 70 years old yesterday, so thank you for taking my call youre a young man. Lets go to work caller okay. My stock is bj wholesale i want to know what your thoughts it had a remarkable quarter it ran up too much after that quarter. People went nuts are we going to miss the quarter . I expect the stock to pull back a bit, but not that much because, boy, they blew it out youre in good company with that one and happy birthday lets go to josh in virginia josh caller hey, jim, thanks for your time. Of course caller corning, ticker glw they have a 4 dividend yield, cash and debt. They have a 5g partnership with verizon, but more importantly, the fda approved a new vial the first 100 years in october made by corning it will inevitably get significant order for vials. What do you think about ticker glw . I have tired of glw doing nothing, tired now, it fell apart when fiber went away between 1999 and 2000. This company does nothing. It has to go up a little not going with that one, down 22 for the year pete in florida, pete. Caller hey, jim, first i want to thank you. Aw. Caller a few months ago i bought barrett gold the c. E. O. On the show. It was 28, now dropped down to 25 not long ago bank of america came out and said gold should i hold on you bet you hold on if that stock goes back to 20, were going to have dr. Mark bristow on because that company is the best gold producer and i think everyone has to have a gold stock or own some gold. Okay, theres a new narrative. Im not totally sold on it, but youve got to marvel at todays strength on mad money tonight, whats really driving the market beyond what we just talked about . Ill give you my take on the action ill revisit the covid index which companies are relevant and which ones need to come in and with the tax filing deadline now july 15th, how is intuit doing . Im going to sit down with the c. E. O. After earnings. Stay with cramer announcer dont miss a second of mad money. Follow jimcramer on twitter have a question . Tweet cramer madtweets. Send jim an email to madmoney cnbc. Com. Or give us a call at 1800743cnbc miss something head to madmoney. Cnbc. Com. 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There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Now that most of america is open for business, we just nee one more thing some customers we need to be clear about whats happened with all the cyclical stocks that were roaring or the retailers do you think any shopper really is going to go back to kohls now that they discovered you can get pretty much everything kohls carries online from amazon, some private label did they start suddenly selling more Tommy Hilfiger and calvin klein . We like that company they started getting construction orders. Where did they come from planes and hotels, fully booked . I dont think so in all these cases i think the answer is no and it doesnt matter these beaten down stocks got so cheap they can have some modest incremental improvement which i mentioned at the top of the show you have to believe incremental improvement is what theyre going to get kohls may not be doing well, but theyre doing better than when they were closed. Another positive federal Treasury Department pumped trillions, not billions, trillions in benefits for troubled businesses and forgivable loans for businesses that agree not to fire anyone. That assistance really helps but at the end of the day, we always seem to forget we are in a recession. V, u, l, its recession. In a recession people spend less either because they dont have enough monitor theyre worried about not having enough money. Thats being mitigated, 600 a week those additional benefits expire at the end of july i think Congress Needs to extend them because there are so many people that simply wont be able to make it in this new world of social distancing. With the new economy and all the jobs comes back, it strikes me as way too optimistic. We had 38 million jobless claims in the last nine weeks, 38 million. Even if most of the people got their jobs back or find new jobs, thats a massive surge in unemployment im betting Many Employers are reluctant to hire and others simply wont be employers any more because they wont exist. This recession has been fabulous for ecommerce its been horrible for brick and mortar retailers that historically employ millions of people its really bad for the little person thats why i say we need another stimulus bill. Restaurants are going under left and right. Big retail chains are declaring bankruptcy without more government assistance for these businesses there wont be enough 0 jobs to go around. The stock market masks that. We need a rescue passage if we want to get out of this recession as quickly as possible thats the only sure fire way. The long shot is what today was about. If we get a vaccine much faster than anyone expected, then all bets are off business does come roaring back. That will be sensational personally i think its very unlikely, but this belief in a vaccine is what drove todays rally. Its all about the idea that one of these 100 plus attempts to beat covid19 pays off sooner than expected or maybe the virus isnt as dangerous as we thought, though as a new yorker, im telling you thats wrong i say dont hold your breath here and remember, all these reopenings dont mean very much if there arent any customers. Maybe im being a tad too pessimistic here without more government assistance or miraculous vaccine im getting the economy is going to have serious demand problems and that will cause real disruption in the dont worry be happy stocks that roared today stay with cramer i came across sofi and it was the best decision of my life. Were getting a super competitive Interest Rate on our money. Were able to invest through the same exact platform. I got approved for a loan and it was a gamechanger. Truly sofi, thank you for helping me prepare for whatever the future has in store. Okay, give it a try. Between wisdom and curiosity, theres a bridge. Between ideas and inspiration, trauma and treatment. Gained a couple of more pounds. Thats good for the babies. Between the moments that make us who we are, and keeping them safe, private and secure, theres webex. Beautiful. A little over a month ago we dreamed up the cramer covid19 index. It seemed perfectly positioned for the pandemic economy we debuted it on air the following monday april 24th to may 22nd, the first four weeks performed pretty well. Could be better. The last four weeks, cramer covid19, 6. 5 , trouncing the dow jones industrials, up 2. 9 , s p up 4. 2 . Its good to be beating the two most important benchmarks. Unfortunately our covid index is now trailing both the nasdaq composite up 8 , nasdaq 100 up 7. 1 there is plenty of tech. It doesnt have as much tech as the nasdaq and nasdaq has been on fire. Over the past week our covid19 has fallen behind the russell small cap 2000 which is up 10 in the past four weeks. Thats incredible. May 13 to may 22, the russell exploded higher. That wasnt something i anticipated. Got that wrong i figured this would be a tough period for Smaller Companies thats truly changing since we started getting some positive news from the vaccine front. As we reopen the economy, smaller operators are in better shape, better than a lot of economists said they would be. I wanted to review the covid19 index performers in more detail, and then make some adjustments because the whole point of this list is to be a distillation of whats working right now when you break the cramer covid19 index down by sector, the best performing group is the financials that work, up 22 cloud up second, 18 today semiconductors and exotics, some china, some not. A catchall category for exotics is weird companies both up 11. We have high single digit gains in beverage stocks, ecommerce, regular tech and the restaurant survivors. The ones with enough digital to thrive here. Retail survivors were up 1. 5 . The biggest under performers, though, the safety stocks with big dividends. Consumer Package Goods plays, package foods, utilities and more defense i. Real Estate Investment trusts were all in negative territory seems to think people dont think were going into a recession. The weirdest group, health care. We put 20 Health Care Stocks in the cramer covid19 index making it the largest sector by far in average Health Care Stocks were flat. Weve had some huge winners. Dexcom, the diabetes glucose monitor surged 22 i check my blotter every day the close of the aller began deal thermal fischer, os, names were flat regeneron, pfizer, resmed, United Health group. I think regeneron is a buy at the end of the day thats the selling of sanofi the best american companies, johnson johnson, some down 11 . Health care performers were best powerful dividends like j j and eli lili shame on the market, but thats what happened. The best performers should come as no surprise peloton, cant go to the gym levongo health these stocks were down today because these are all new economy. Cloudbased platform that help businesses handle expense management, huge environment, millions of people want to get reimbursed for setting up their home offices spotify snuck on there because its rolling out the podcasting business moderna because theyre leading the pack on developing coronavirus. By the way, those who own moderna, there are Companies Like merck that came into play here thats why its down square, shopify which got hammered today thats a stayathome play e commerce fischer worst performers were generally recession stocks the kind of names wall street loves when were worried about a horrific economy you would think it would be with 38 million unemployed. As i said at the top of the show, the market has gotten more confident. Well have a speedy vshape recovery witness todays terrific run no one thought that ten days ago. That makesment recession stocks less attractive. Heres the question. Is the cramer covid index fund in danger of being left behind as america reopens for business . The last couple weeks investors have been swapping out of the beat down stocks and into recovery plays that trend continues and maybe it was near the end of it today because it was vicious our index would be too defensive. I have to tell you, i think its too soon to give up on recession stocks as much as i hope we have a recovery, america swiftly gets back normal, its tough to bet on im worried the recovery will take longer than the bulls expect maybe u not v. More importantly there are so many ways it can be derailed think of other problems, the many Small Businesses currently on government life support weve been on a better trajectory with the virus. But if we see a bunch of big outbreaks as the economy opens, it is going to hurt. If there is a second wave of infection that is going to hurt. I know there hasnt been i am thrilled. Any news on the vaccine front, thats really going to hurt. Thats why i want to keep most of our defensive exposure, dont want to get rid of it. You need to be protected in case something goes wrong i think we can improve on the relevancy of the index we put it together, 100 stocks we have to make it better. Listen the s p does that. I am dropping ten of the worst performers and replacing them with stocks that are better suit today this moment and more relevant so were going to drop beck ton dickinson, anovia pharmaceuticals. Roku and snap. Some of these are duplicative. You dont need both Becton Dickinson and baxter when theyre both out in front. You dont need fresh pet and chewy. You dont need a vaccine play like anovia when you have a good one like moderna ten replacements dont laugh. The biggest beat of altec companies, biggest one then spunk, remember last week, two digital contents performance Monitoring Analytics plays that should have been in the index from the start they need a flow of webex which is why they have good quarters third is twilio. Another one that should have been in the index from the get go, they had a previous couple bad quarters i thought there might be too much weakness. Fourth and fifth, e commerce facilitators wix. Com sole proprietors on the internet, etsy helps sell goods, wix a better website our bad for leaving these out. Speaking of our bad for leaving them out, six changed. On demand, interconnected, platform, when back to School Season comes along and i think it will, many colleges will keep Holding Classes online they can help students in schools save a fortune seven is target. Obvious retail survivor. Even though the stock got slammed when the Company Reported last week, i thought c. E. O. Brian cornell told a great story when we spoke to him thursday night the market is wrong i think on target i know thats tough. Youre never supposed to say that ive been saying that about target ever since Brian Cornell got in there s p global Doug Peterson makes most of the ratings on rate agency 9th is palo alto they were on last week and, boy, they told a great story. So many people working remotely, Cyber Security on fire, palo alto is the Industry Leader now. It just reported a phenomenal quarter. Some would dispute that leadership including crowd strike it was a good quarter. A vaccine play, also a Contract Manufacturing business meaning whoever comes up with a Covid Vaccine theyll use emergent j js partner. Bottom line, im feeling better about the cramer covid19 index with those ten changes this is a big but. If the economy goes smoothly, well have a whole different order of recovery stocks i dont think were there yet, although im working on a separate index so well be ready when it happens. Lets go to robert in kansas robert caller booyah i cant, jim booyah, robert. Whats going on . Caller my question is about knowing its a strong defensive company to own during times of high unemployment and recessions, they have lots of beats consistently during 2019 do you think there will beest nats again on thursday and is it time to buy more heres what im going to tell you. When Dollar General reports, the stock tends to go down ive seen it more than not go down like 4, 5, 6 points and people then todd bezos, c. E. O. Talks what am i doing . I threw it away. New buyers come in why dont you wait and see the quarter. How about rick in new jersey rick caller hi, jim rick from new jersey my question is british petroleum, bp. I bought it at 22 when the oil prices were low. Since then the oil prices doubled, yet the oil stocks, all of them are still down what do you think . Nobody believes and thats usually pretty good when nobody believes chevron, believe there people tell me bp is going to cut its dividend they just raised the dividend. But im not a proselytizer for the oil stocks when people ask me what to buy, buy parsley, pioneer, diamond back, you can buy eog or you can buy chevron. Thats my complete list. Dont deviate. Im feeling pretty good about the updated cramer covid19 index when the economy comes roaring back and we get the v, what can i tell you this is antiv i like a barbell you heard me say that at the top of the show. Now, theres much more mad money ahead can intuit ride out the covid19 economic shock im sitting down with the c. E. O. After earnings to see how the can of is doing. Ive loved that company a long time covid19 impacts everything, including the farm belt. Im talking to the c. E. O. Of corteva to find out how hes positioning himself. And all your calls in rapid fire in lightning round so stay with cramer. vo our communities need help like never before and wells fargo employees are assisting millions of customers across america through fee waivers and payment deferrals, helping people stay in their homes through mortgage Payment Relief efforts and donating 175 Million Dollars to help hundreds of local organizations provide food and other critical needs. When you need us, wells fargo is here to help. And its mission is to give you truly transformative sleep. So, no more tossing and turning. Or trouble falling asleep. Because only tempurpedic uses proprietary tempur® material. That continuously adapts and responds to your body, to relieve pressure. So you get deep, uninterrupted sleep. All night. Every night. The tempurpedic summer of sleep starts now, with all tempurpedic mattresses on sale, and savings up to 500 on adjustable sets. While the stock market is roaring, im worried about the small and medium size businesses that dont have publicly traded stocks thats why tonight i am so glad to take the pulse of these businesses with a fantastic company, intuit, the Financial Technology company you know its quick books, customers are restaurants, moment in turbo tax. The irs delayed the deadline for filing taxes this year yet despite the disappointment, the stock barely got dinged. Most analysts raised their estimates. At this point intuit is made up of ground it lost when it crashed in february and march. The stock is painting a bullish picture even as the landscape for medium size customers seems pretty rough lets find out lets take a closer look with the president and c. E. O. Of intuit get a better sense of where the company is headed. Welcome to mad money. Jim, thank you so much for having me. Okay. So, you have an extraordinary thing. We have been talking about how zoom has changed things. Of how teledoc has changed things intuit was ready for the virtual shift in this country, wasnt it you know, we are so delighted to have the opportunity to build on the foundation of being ready for this Virtual World, as you know, because i hear you talk about it on your show. There is just a massive shift of virtual, whether its education, whether its medical, whether its home fitness. And even when it comes to taxes and bookkeeping and handling your small business, folks are moving to a Virtual World. So were very fortune to be ready for that with our turbo tax and quick books live platform can you tell us, we are concerned because we talked to the treasury secretary mnuchin and we know from a lot of companies that smaller business does not have the ability to get as much capital as larger. How do you feel about the state of small and mediumsize business if we do open the country right now . First of all, we feel for Small Businesses just to set context, we serve one to ten employees we made an entry into Small Businesses that are between ten to 100 employees these are Small Businesses that are really the heartbeat of america. They normally have up to about eight weeks of cash. Theyre fighters, theyre dreamers, and this environment has dramatically impacted them and, of course, what matters most is health and safety. But as long as we open up the country in a very safe way, i think they are ready to deliver for their customers, and many of them have actually changed their Business Models to be able to work in this Virtual World and we are just very much inspired by their passion and their compassion i know you have a Similar Program to square where you can basically give advances to companies. With the economy so bad, i imagine you had to pull some of these lines, that its not a great time for some industries because of the health and safety rules, or because the boutique nature you know, weve had to be, of course, much more thoughtful because we dont want the Small Businesses to get in trouble, not being able to pay their loans back now, weve invested in this machinelearning platform for about four to five years, and we leverage about 26 billion data sources, thats always crunching numbers. We know very well based on all your money coming in and money going out what your capacity is, what you can afford, the credit worthiness of your customers and so we have to tighten up a little bit, but weve also been really leveraging our Machine Learning capabilities to still do good by our customers one of our producers say we have intuit on youve got to tell him how someone hacked my account, my checking account, my paypal account, and that you, with credit karma, flagged it, got it stopped. He could not say enough good things about credit karma. I am not as familiar with it other than the fact i know the deal hasnt closed it sounds like its a much larger Addressable Market than what you currently have. It is, jim. Ill tell you, start with why. We were so interested in credit karma. We set a goal a year and a half ago to double Household Savings rate for anybody thats on our platform we wanted to play a role that goes far beyond taxes. We wanted to really be the financial assistant in your pocket and with credit karma, were not going to be able to connect customers to Financial Products that are right for them. Were an agnostic platform, help them save money, get out of debt they had 100 million plus customers, almost 40 million monthly active were going to be able to reach customers in ways we couldnt before and so im delighted your producer found it helpful and we could not be more excited to help customers save more money with credit karma. Can you talk about how i thought this was great some people wanted to visit in the old days, prepandemic actually, they like to go visit a person in the new world, i dont want to go to that office i want to do it virtual. Brick and mortar is very hard right now, isnt it, for your competitor you know, it is i mean, if you think about two things that are converging, one, folks that were born after the smartphone, they want to do everything on their smartphone and theyre less privy to go to physical locations and then when you look at this unfortunate pandemic, i think its just sped up everything fiveplus years where folks want to be able to do things online they want to engage in expert online both to get their taxes done, but also were seeing the same thing with Small Businesses where they want to connect to the bookkeeper in a Virtual World, exchange documents in a Virtual World. I think the whole world has set up about five years to be able to do things online, engage online i think in the long term its going to be good for the globe, but of course we need to get through the current environment in a very safe way i totally agree with you it sped it up they said the same thing at microsoft. It really pulled forward the last thing i find so troubling is the amount of Credit Card Debt and the 50 of americans that live paycheck to paycheck yeah, i tell you, its incredible its one of the reasons why we were so excited to come together with credit karma because now with 100 million plus customers they serve, we can give you early access to your paycheck. Theres 23 million americans that go to pay day loans to get access to their money wednesday, theyre getting paid friday. We needto play a important rol to educate folks on Financial Health and make sure they make the right choices and the right decisions. Wow, its always you count your lucky stars that we have good jobs. Anyway, thats sasan, c. E. O. 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Dont wait another minute, call now to purchase 1 10 ounce Gold American eagles for the amazing price shown on your screen. Announcer lightning round is sponsored by Td Ameritrade it is time its time for the lightning round. Buy, buy, buy sell, sell, sell. [ buzzer ] and then the lightning round is over. Are you ready, kski daddy time for the lightning round start with quentin in georgia. Quentin. Caller jim, thanks for taking my call i want to take a second to wish my wonderful wife a happy 38th birthday i get your take on newell brand. Its not high quality, does not have a great Balance Sheet lets go to terry in nevada. Terry. Caller jim, thank you for taking my call of course caller hope you and your family are doing well. Oh, yeah. Caller im calling about Caesars Entertainment ive said it, i like pan national gaming, okay. Thats my one. I think that that is a great Nation National pastiche without worrying about china lets go to peter in new jersey peter. Caller jim, thank you, i love your show thank you caller id like to have your opinion on a company that is backed by bill gates and d. E. Shaw that uses a. I. To recognize if a drug will be viable for biotech companies. Umhmm. Caller its called sdgr. We like this one for the same reasons we like nvidia a very Smart Company i think its a great spec. Lets go to alan in oklahoma, alan caller hi, jim im calling about spt. Hold it, buy or sell i have to find out what the heck this thing is so my bad that i dont know it, but i promise well get back lets go to philip in iowa philip caller booyah, jim booyah. Caller i want to ask you about norton life lock last week they posted a beat, supposed to beat on the top and bottom line, buy back 625 million in shares, were upgraded by various wall street firms reaffirmed guidance and they also have a Business Model thats very well suited for consumers moving online. I happen to think the world of norton life lock. Its pretty much set up by rick hill he has the chief executive officer who is sensational i think this is an under valued stock and it should be bought, and weve had so many guests havent had a chance to detail why i like that stock, but i like it very much. John in california, john caller booyah, cramer. Booyah. Caller firsttime caller from san jose,california ive been watching you and following you all the way back to the days of just hosting on squawk, the late great mark haines yeah. Caller i want to say a quick thank you. You taught me so much as an investor i learned so much from your show and your books thank you youre very kind thank you. Caller i have a pretty well diversified barbell portfolio little house of pain with canopy canopy is the most legit of all the cannabis stocks with terrific management. Its the only one that i felt can triumphs over the crazy period we have short squeezes in the group. That is the most legit in the group. Lets go to jason in new york jason. Caller booyah, jim this is jason calling from new york with all the guys possibly getting into mcdonalds, is now the time to buy into this potential monster stock beyond meat this thing literally just doubled. I am deeply committed to it. I think its terrific. If i say yes, buy it and it goes down 10, you should not be surprised. It is a wild trader. Could it go down 15 . Yes. Do i believe in it long term probably more than almost any stock that we talk about john in california john caller booyah from bay area on the left coast. Perfect caller espg. That worked its way back. They have the best technology. Its all the way back pretty good i have to say its pretty good and that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] announcer the lightning round is sponsored by Td Ameritrade music i am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. That could mean an increase byin energy bills. You can save by using a fan to cool off. Unplugging and turning off devices when not in use. Or closing your shades during the day. Stay well and keep it golden. As the world gradually reopens for business, whats happening to the agriculture industry corteva is the agri science company. It was created when dow chemical merged and spun them off as a separate company roughly a year ago. The stock caught fire late last year when the Trump Administration reached a trade agreement with china then the pandemic hit. And from late february through late march, the Stock Plunged from the low 30s to just 20 bucks. Since then its rebounded to nearly 26. How is corteva doing earlier this month it reported fabulous numbers, terrific sales, great earnings beat it gave cautious commentary. They warned of looming head winds, price uncertainty and potential global recession thanks to the uncertainty of the decline to give forward guidance, after rallying right out of the gate the stock stumbled on the commentary it came roaring back now that wall street is getting excited about the recovery thats why corteva rallied an a stop i canning 4. 5 today. Lets check in with the c. E. O. To learn more about how his company is doing mr. Collins, welcome to mad money. Great, jim. Thanks for having me its been almost a year since we talked last, back in june of 2019 when we launched corteva as a publicly traded pure play ag company. A lots happened since then, but weve got an amazing team and were executing really well in the market place okay. So, can you tell since its your first time on, we want to talk about Crop Protection as a business and seed as a business because youre number one in seed, Crop Protection has been a bit of a battle. If you can tell us what it means, pipeline, how it influences you, what the science means. Yeah, i think what you hit on is one of the key strategic advantages that we have going forward. Its the Strong Foundation around technology and innovation in our pipeline. I think we have a product lineup second to none on the seed side, we have strong market shares in corn and soybeans, canola, rice around the world, Crop Protection especially those products used on fruits and vegetables, insecticides, fungicides crops like wheat and corn and beans. One of the things you also take away, were a very diverse company. We sell we sell seeds in 14 different crops and chemistry, over 140 countries around the world. So a real strength with that pipeline and that product lineup in seed and chemistry. See, when i went over your numbers, i thought they were really good. And then i did admit, i have to admit i got a little confused about guidance youre one of those companies that has so many things going for it its an Election Year so the farmers get a bail usually they do well maybe things will simmer down with china brazil is not that big with the real, im looking for something that would be a core holding away from the cyclical holding of deer. Youre right, jim we had a strong first quarter. 16 rise in net sales, double digit growth essentially in every region around the world, and 53 ebitda growth going forward. And what ive said before, were demonstrating the strengths our key competitive advantages we have in our portfolio, but also our distribution system, that unmatched connection that we have with farmers add to that this very strong companywide focus on operational excellence, and then we just support growers and Food Security all around the world. So were carrying strong momentum into Second Quarter and probably the main reason is we look to the second half and out of caution, taken a pause on guidance was really related to mostly currency, and heavily affected by the brazilian rayi we put something together to cover part of that impact. We have techniques were deploying to help cover some of that i have my team all around the world looking at additional cost productivity we talked about adding 100 million worth of cost productivity and then like i said, were a very diverse business so were going to go chase new Business Opportunities in other areas of the world that maybe arent as currency affected. So i would say by the end of 2020, i would hope to cover a majority of the impact, but its just a little too uncertain right now to call what that brazilian rayi is going to be in november when it really matters the most to us got it. Now, how about the flood in midland, where are we with your operation . Yeah, thank you for asking. Horrible 500year flood, biggest impact right now clearly operations were shutdown out of abundance of safety and caution. Our teams are evaluating the impact of that only 1 of our second half revenue is dependent on any of the products that come out of mid land so as far as 2020 goes, we would expect, you know, a minimal impact give me a few days, let those teams understand the full impact to our operating units as we sit here right now, the water crested lower than we expected the impact on the units was less and my biggest concern right now is for our employees we had over 400 of our corteva colleagues that were directly affected in their homes in the city of midland. Were going to work awful hard to make sure theyre taken care of as well one last thing. It matters tremendously, the price of corn. There is a volume of gasoline that has to impact ethanol what is the way it works with corteva . Right so, as you know, jim, we supply a large majority of the corn seed in the northern hemisphere. Thats based on our Product Performance and the way our germ plasma and our germ plates have interacted together. We feel really good about planting season here in 2020, we have a good crop on the ground but we need to see how that crop performs here this year. Were going to have two more seasons to look at crop performance in latin america before we come back around to trying to predict what Commodity Prices are going to be going into 2021. The ethanol industry is clearly a big impact they grind a lot of corn were seeing some actually encouraging news out of the transport industry, that as this recovery might be coming back a little faster than everyone expected, people driving more cars, using more ethanol, that blend requirement will really help open these ethanol plants back up. Another thing to watch for, theres not a lot of industry storage of ethanol so as gasoline demand comes back, those ethanol plants will have to get up and running quickly. Longer term you have a lot of good things going for you, jim thanks for coming on mad money. Great to see you great to see you, too thanks, jim. Thats jim collins, corteva, c. E. O. , ctva this is a much better stock to own, i believe, than deer. If you want to play the ultimate longterm Food Industry in general. Mad money is back after the break. Where will you go first . Will it be familiar streets . Or perhaps unknown roads . Wherever you may go, lexus will welcome you back with exceptional offers. Find a lexus for every road at lexus. Com. No payments for up to 90 days on all 2020 lexus models. Experience amazing at your lexus dealer. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Next on markets in turmoil, chicago mayor rom emmanuel what it will look like post pandemic. A micro brewery. Plus the steps more than a dozen hospitals are taking to deal with shortages of p. P. E. All with my friend scott wapner. When you have these big rotations they tend not to end in the morning they end midday. If youre planning the rotation, be aware if there is a reversal its going to come midday, not each day dont be surprised if the same stocks open up again that is the typical pattern that ive seen for the 40 years that ive been on wall street i like to say theres always a bull market somewhere and i promise to find it for you here on mad money. Im jim cramer and i will see you tomorrow. Watch and listen live on the cnbc app. Good evening, im scott wapner on day 149 of the coronavirus crisis, and reopening sending stocks surging, but is your safety at risk there is strong confidence on the part of the scientists that we can get a vaccine. The find to get a virus moving forward with merck making a major move. The nyse opens up today. And how do we destroy the