Close down 257 points. S p fell, nasdaq lost 1. 87 . I think that rally that took peoples breath away was started with short sellers who were covering or closing out the positions. Theyre getting concerned that the Drug Companies working on the drugs that would lessen the lethality of corona may have had success. Fear is more powerful. But this is driven by a justifiable fear coupled with the fear of catching it yourself its threatening to bring commerce to a full stop. Aside from the pallets of purell passing through the portals of the shaky retail establishments. We got through a roller coaster of a week marked by the emergence of terrifying sector markets. Oil and gas, you know i hate the stocks wow. Justified, travel and leisure, retail, some better than others. Andthe hideous financials, all which are worrisome because the borrowers are numerous in the sectors and are so good they can hurt lenders this market is longp standing gains with breathtaking speed. But those moves pale in comparison to the treasury yields tenyear is paying you if i werent jimmy chill i would say its insane. Right now the bond market is calling the two. Bond prices are blasting the highs. They might as well be screaming at you to sell stocks before the coronavirus induced recession hits irony, the bond market screaming as we got one more phenomenal employment report this morning those are being dismissed as Rearview Mirror gazing the market senses that something dreadful is right around the corner, a fallout, freezup we might see the signs of it when we come into work on monday with that in mind, why dont we go to our game plan, what i think is going to be another shaky week were going to be greeted by the tally of new coronavirus estimates. Ive got to tell you, i think those define this market we care about the numbers from china, where the regimes totaltain method seem like theyve got the situation under control. But we care about the numbers of the roast of the world where its spreading its spreading here. The whole country is on edge because we dont have immunity, vaccine or treatment the governments response leaves a lot to be designered. It is potential to see the expontial number of increases. The numbers could go to zero they might even go negative. Ive spoken to dozens of people trying to figure out if its just the fear factor driving the bond market and i get mixed reports. Everything from total flight to quality to total manipulation. In the end the new cases are the new cases. And new desks have more to do with the directs of the stock market than the fundamentals i wish the chinese would sell their trillion dollars in bond we need that supply. That was our biggest worry for years. Now were begging them to selling. The movement we stop paying attention is the moment we lose our rigor. Thats what i cant wait to see what Ford Industries has to say. Im betting theyre going to give us a lot of insight into the state of the seller. Their inventories they tend to bloom when people are scared people use that overused cliche but canary in a coal mine, but this is correct. Gasoline prices went down. Oil fell 10 today i bet it Means Nothing for the stock, because well, what really matters is whether you want to shop for an rv during a pandemic the Online Subscription Service thats like having a digital personal shopper, we visited in san francisco, they have profitability. The stock is now down 11 . Has something changed . I suspect the model is ideal for this environment well see. You want something thats working here and can keep working . How about franco nevada . Now thats, im sorry, franky nevada i got a lot of criticism from nevadans this week like i should pronounce it like nevada anyway, these are companies this is a company with mixed streams of royalties and Mineral Resources including of course gold you know i think gold is the perfectly positioned commodity because its a safe haven in times of economic chaos. I try to stay chill but it is difficult to contain myself when i see someone flock into my twitter file and say do you like gold i have for my whole 15 run we rang the opening bell at the new york stock exchange. I was hoping you had that shes out fat. Okay hey, theres my nephew, cliff mason. Our head writer and only writer. Anyway, hes the guy that went down like this this is exciting for me. Has the consumer gone under ground lets find out when Sporting Goods reports. Manlment here is transparent i bet theyll give us a look and feel for the past few weeks. Im refinancing my house getting an amazing rate as the 10 year settled at a record low. But are people still buying new homes with this new found accidental affordability well know more when we see the Mortgage Applications numbers monday if theyre not up youre going to hear recession, recession theres a good reason. Dollar general and dollar tree, Dollar General has been hitting it out of the park i bet it shines. Speaking of red hot retailers, how about beauty im torn here. People buying ultta seem to believe its recession proof, but id say its recession resistant. Im concerned about anything retail, especially at a hair salon component. You cant get your hair done through amazon yet after the close we get results from broadcom and adobe. Its a hybrid including parts for apple and Software Good yield why dont you follow along by joining the action alerts plus. Com club. As for adobe it has the ability to separate between tech and everything else. Because you can use the software from home if you need to stay home it allows you to be how do you say, more creative than youd be otherwise. If they see a slowdown, friday is going to be nasty its a big Company Finally theres gap, which just appointed a new ceo, sonia seagal with retail you never know a big chunk of gap is mall apparel and mall is getting mauled on friday were supposed to hear from illinois tours. The meeting was canceled because well, theres a massive wave of canceled events. And i think i dont have to tell you why that is. But think of these cancellations as a reminder, this is not business as usual. In many cases, its no business at all the only thing really lacking next week is travel. Cruise lines for example, they traded lows today, a little bit of bounce, mid day a bounce too. I wonder if these dividends are sustainable for royal cribbian norwegian has already paid the price. Im sure the airlines are better than the cruise lines. But how much better . They spent a lot of money on buying back stock. Ouch Pay Attention to what these companies have to say next week, but dont forget that at least for the moment, covivd19 is in the drivers seat mike in florida. Mike caller yeah, this is mike. Speak to me. Caller im calling about amc. The theater. Im looking for some cheap stocks and i came across this stock, and it you mean thats thats a coronavirus stock. They did just do something rather extraordinary they eliminated dividend buyback stock. That was smart i think it relies on gatherings. And if you have to gather right now, its a nofly zone. Zbludith in alabama. Caller hello, jim. Im a longtime investor. Thank you. Caller for listening to you. Thank you whats up . Caller i inherited around 1,2 1,200 shares of boeing and have sold the boeing stock rose up to 400 plus and now its in a nosedive with the various problems and the coronavirus. I neepd to know what to do with my other 600. I dont want to sell boeing down here. I didnt like that article in the New York Times about david calhoun, made the company seem i think much worse than it is. I think the company made mistakes i dont think its a bad company. Thats only based on a 100 year look i dont want you to sell low next week, Pay Attention to earnings on mad tonight, a thunk, back to market turmoil im talking with a ceo as the coronavirus continues to spread where are american opportunities if nerk goes into the bunker with the market heading lower today im talking with one of the wisest women on wall street to find out her take on the volatility and what to do. Do not miss my sitdown with founder tally crowchet and stay with cramer dont miss a second of modmoin. Follow jimcramer. Send him an email to madmoney cnbc. Com head to madmoney. Cnbc. Com. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. When yowhat do you see . Itical issues facing our world, we see a billion more people breathing free. We see access to fresh food being the global norm, not the exception. We see homes staying cooler, without the planet getting warmer. At emerson, when issues become inspiration, focusing core strengths to create a better world isnt just a result, its a responsibility. Emerson. Consider it solved. When the market turns this ugly, nobody has time for nuance if a company with a highflying stock looks to be a third quart we ask questions later we saw this play out on wednesday night with one of my favorites, a Cloudbased Software analytics play, what people thought were confusing numbers, i didnt. The company delivered better than expected sales, misguidance did fall short for some. The full year in response the stock plunged. It was already down 20 bucks from its highs going into the quarter. However i think this is a snap judgment and it may be wrong. Theyre changing their business model. Theyre prioritizing a subscriptionbased model that generates recurring revenue. Weve seen this before from other Software Companies while confusing at first tends to be very lucrative for those who stay with it lets check in with doug murg to talk about where this company is headed welcome back to mad money. Very excited to be here congratulations again on 15 amazing years. Youre very kindthank you, doug it was a big day for us. Thank you. I want to get right itto it in e sense that i went over your quarter several times and tried to do it without looking, correct me if im wrong, this is maybe your best quarter youve had and i thought the guidance was good and strong. Am i just a dreamer or because that was not the consensus view so, as you highlighted at the beginning of the show, we have been going through a transition from a perpetual license dop renewable. Weve transitioned now 99 in q4 of all revenue, all transactions to term in cloud thats huge. Within that shift we also are growing a Cloud Business like crazy, from 0 of our business in arr being in cloud five years ago to 35 of software to being in cloud on an annual recurring revenue basis it was a spectacular year and year and phenomenal guide over the last three years. If youre looking at gap metrics, thats where i think people can get confused. Lets go over this number, this arr, annual recurring revenue. This has often been the tell for me about when a company thats switching models is about to explode in earnings, not go down 54 would lead me to believe that next year is going to be gigantic thats the way its worked you and i have been around for a long time. We know that arr is the way to judge the future i agree completely. If you go back to q3 last year, we had a growth. We just exited q4 to 54 , so we went 46, 52, 53, 54. 45 for this year. And a 40 compound annual growth over the next three years. If you look at 1. 7 billion arr posting which we just did this q4, at a 40 , that gets you somewhere north of 4. 5 billion over four years. When i look at Awesome Companies that are fully arr like salesforce or workday or service now, that is a growth rate that is at or above anything theyve ever done on that same trajectory. Good. I think people i saw this with adobe too you had to get in ahead. The analyst you think they must know it is amazing they dont i am going to talk about a jeff bezos product, the smartest man around what does splunk do with the Washington Post, that they love you so much as we talked about, our 3 main centers, the cyber community, infrastructure that keeps digital stuff running, and now with the acquisition of signal affects were going after application development. Washington post is using us across those core use cases. Theyve got avenue important new content management, distal content Management System that we are ensuring stays up were helping them analyze the activity from customers across the content. So in addition to keeping Washington Post running day in and day out, were helping them understand what customers are doing on a day in and out basis with the content they post. We have to do the obvious because its whats driving everything does splunk have to be face to face with big deals . Because you have big deals can you really do them with a zoom video or do we have to say as long as the thing is going on, work from home, make phone calls, but were not going to close anything big its a brave new world. Were all going to learn this in the coming months. Like every other company should be doing, were putting our employees health and safety first. We are encouraging people to work from home luckily we have a zoom customer, slack customer there are a lot of Digital Companies we can lean on and move forward with business weve got a great install base, 20,000 customers that actively use splunch. Over 80 come from that install base my hope is that for a lot of the trans transactions that are just expansions or capabilities from new products that can be attached to the existing contracts and weve got a great relationship with the buyers and procurement. Well see like we all do i didnt think going into 2020 id be the ceo of a company that was going through Something Like coronavirus. We dont necessarily see less demand for splunk do we been because of the coronavirus when i think out of the next two or three years and even the next few months, we feed into this whole Digital Transformation movement. If this becomes the new normal and we start to adapt to more of a social distancing or whatever the vernacular is thats popular on todays twitter feeds, that just means more digital usage. The companies that we are all relying on, all the digital properties, have slack as their backbone to make sure that their Services Work effectively. Have splunks splufrpg as a backbone slack or zoom or aws as an overall customer of ours, whole host, google companies, facebook, if we all turn digital, that for me turns into the trend weve been seeing which is, i need to make sense of whats happening, i need to make it resilient, safe, which means more splunk. My viewers are going to say whats touring go ahead, you always make this meaningful. The double enten draiz we love, alan touring, this was my walkup music my first year to our ceo. Good to see you smile thank you for your kind words about our 15th, and yeah, i didnt think that any illness was going to stop digitization thats not the way it works. Thank you so much. Good to see you, sir thank you, jim. Good to he so you, too. You have to understand that there are some secular trends that will trans skoent scend the skriers. This stock has thats not going to be the case mad money will be right back dad, im scared. Its only human to care for those we love. And also help light their way. Its why last year chevron invested over 10 billion to bring affordable, reliable, ever cleaner energy to america. Stay two nights and get a free night for your next stay. One night, two nights, free night. Book now at bestwestern. Com. Welcome to the stayathome economy. With the coronavirus on the verge of becoming a fullblown pandemic, the going out stocks keep getting battered. As ive told you, companies that rely on groups congregating, ire lines, cruise lines, live enter taimt, theyve been pulverized these industries dont work when people are afraid to go outside. And covid19 has us very, very afraid im worried about every one of those industries and the Balance Sheets within. They are where the holes are, they and the oil and Gas Companies have to lets say they have me concerned. Im not hysterical im concerned. Id be joking not to be. But people dont totally stop spendping money just because they stop going out. We still need to find ways to occupy our time. Thats why the stayathome economy works here companies with products that you can enjoy from the comfort of your own home, the couch, the streaming services, soft where companies, all the package Food Companies that make it possible to survive even without great taste while not leaving your house. Covid19 did not create the stayathome economy i started pushing this back in 2017 but this outbreak is pouring fuel on the fire lets revisit. Three years ago we rolled out the first iteration, dominos businessa, pepsico, home depot and tjx, activision, blizzard, electronic arts, the two graphics chip makers amd and nvidia, we had ulta beauty so you could look your best, we also bought experienceal stocks like carnival. Since then stayathome stocks have rallied at 90 . The only loser in the stayathome cohort was ulta, a retailer that never should have been on the list at the first place. Over the course of 2017 we added netflix, grubhub, alphabet and apple because they make it easy to keep yourself entertained 2018 we added more, took about mccormic for spices. I really stand by this one by the way in this market seasonings soso quarter i recommended disney which was jurtr just starting noodle spotify and pro lodgics for logistics for the stayathome economy which is so important because it rests on getting packages to your house and thats what it helps them to do. It said stay clear i started recommending shopify, its up since then shopify is not done. Which of these stocks are still worth owning what stays and goes . First the obvious. Forget ulta beauty, cruise lines. The experienceal economy was struggling even before the coronavirus. Now its dead until the outbreak is over. Next lets go over group by Group Starting with fang, facebook, apple, netflix and google these are all stay at home, theyre your content providers, keep you entertained or supplied with necessities theyre all worth picking at i am not as concerned as others that the ad dollars will dry up. People will shop more online so t