Which is what happened today, with the dow roaring 206 points s p vaulted 103 points. I know plenty of people think all that matters is washington. I think that all that matters is getting washington out of the picture which may be exactly what is happening now that compromise is in the air. Extending borrowing until february of next year and stop the Government Shutdown with agreement to Fund Operations until january 15. If we dissect this one day, one day in the life of the market, you can see what the stock world looks like when washington is not wrecking the economy. The good news i was up all night. I will share that with you. It started at 1 00 a. M. When sanofi partnered with regeneron, announced results for a drug i have been calling you, anticholesterol from merck. This compound which reduces bad cholesterol for those who cant take the current statin drugs could easily mean 3 billion in sales. A blockbuster that will be fast tracked because of the results. Thats why regn jumped 17 points in one session. A few hours later we got european auto sales numbers. Best in two years. August was the worst month. I dont think they realized how bad this news is for ford. Charitable trust. And general motors. Both of which able to report much better because of this turn. As well as a better tone in chinese sales then once the sun rose in america we saw the earnings from bank of america and they were spectacular. What was the last time i said that . In the same sentence as bank of america . I know this company cost as lot of people a lot of money. All right. But it didnt today. It shows year over year and quarter over quarter growth. Putting the same loans and liquidation behind it. Companies showed you small and medium sized loans being made in the country are coming back. Growing. I can see bank of america return this greatest once again headed back to 20 bucks. Big dividend on the horizon and consistent growth. Lets call it 18 months. Then pepsico reports a better than expected number in snacks. Thank you. Diverse model allowed the company to beat carbonated soda sales. They did stall. It made ton of sense the stock rocketed 1. 67. We havent seen a lot of growth in pharma. Monster dividend boost, 14 to 22 cents. We are seeing if benefits to split into two companies. Avid puts on two bucks and change. There has been worry about the auto parts group. It has been lagging. Advance auto parts decided to take matters into its own hands. Spending 2 billion to buy carquest. As seen over and over again nothing like management that goes out and buys a company that has been trying to bash his head in. We have seen it in the rental space and now in the auto parts group. Acquire, no wonder, Advance Auto Parts rallies 13. 60. Finished at 9. 16. Remember, aap is the company doing the buying. Typically expect that from the target. Or consider how the research got things moving today. Will you . Not one but would brokerage houses recommended pioneer natural resources. Pxd is the stock i will be telling you about. Huge field in the Permian Basin. This may the second Largest Oil Field on earth. It soars 12 bucks. The other big independent oils, eog, continental and noble, the kings of eagle ford, bakken and niobrara. Tell you, they all jumped. Gaining 2. 32. And a buck 90 respectively. Speaking of oil and gas, raised price target for cheniere energy. This stock has only quadrupled from first time recommended. How about the gigantic buyback fedex announced yesterday is a harbinger of the restructuring . Causing stock to leap to three points. Yesterdays fourpoint increase. It said it would make changes to ensure that didnt happen again. Victory lap to ceo and squawk box fred smith for delivering for shareholders. Fred is an economist by nature but really an operator. Solar city. I aint going to play solar city. Im playing it. Price is 3. 4 million shares. And the stock rallies to 52. Why . Management dramatically raised the number of solar panels it will install next year. Thats a testament to the brilliance of elon musk. I compare him to henry ford without the demographic issue. And he is a serial genius. Hes also the man behind tesla. Secondary making petroleum. We got a terrific ppo for pharmaceuticals i told to you watch out for and try to get a piece of weeks ago. It came to 20. Finished at 37. How else will you make that money so quickly . You think your boss, get a raise like that . Twitter announced it has chosen New York Stock Exchange and gave a peek at how fast the office is growing. That lit a fire under linkedin which took off again. This is all one day. One day where the stocks roared higher, creating tremendous wealth for shareholders. One day where companies could raise money, put people to work. One day when banks reported numbers that told the economy is expanding and credit is falling. Duplicated to Oil Companies. Ibm and ebay. They did it when stocks were plummeting after the bell. Still i think they are outliers versus the rest of the day. Amex reported today. That was a darn good number. Whats so painful is none of this matters to the people in washington. Everything i talked about Means Nothing to them. Probably like need an english to wall street dictionary. They spend their time attacking each other. They are happy to fight over things like medical device taxes. Do you think they know abbott labs makes medical devices and is doing fabulously . Doesnt need that. Shut off the spigot that just opened which is what a default would do. All the work bank of america has done since 2008 to get its house back in order which would be meaningless, dont they know that . It is not a republican or democratic thing to say. Get it going from bank of america has been hit and hit hard by washington. Not by anything in the business world. By washington. All of the confidence it takes to sum it up to buy a new house, washington. When we were starting to see good numbers, like they have been deliberately trying to sabotage the economy. How about the fact washington cant see the process of tremendous domestic oil and gas . They still havent figured out we can cut the portion of the gigantic military budget to protect the middle east. All we are doing over there is ensuring china can import all the oil it needs. We are protecting china. Thats a great mission. Nor had they realized some companies rely on the u. S. Government for major parts of the sales. Hence why Companies Like cisco and networking equipment are getting bled to death by the Government Shutdown. Thank god it is coming to an end. Celebrate business in this country. Something that used to be able to count on from the republicans. Remember when the gop was the party that helped business in washington instead of scaring it to death . Today we saw what this market can do when washington gets its act together and gets off the backs of its people. You know what i say . I say hallelujah bruce in arizona. Bruce. Caller hello, jim. Bruce caller yes. Im curious to see how obama care will impact large corporations like fedex and their 40hour workweek and read where ups cut business for dependence on nonunion workers. Well, i will tell you. Here is my take on obama care. It is big for companies because they can figure it out. Can i go to mike in new jersey . Mike . Caller booyah hump day, mike. Caller ticker hta. Keeping the dividend steady. Actually the acquired property about 99 occupied. It looks pretty good to me. Balance sheet looks real clean. I totally agree with you. Naysayers are completely wrong. I think we will show them. Okay. Im taking one more. Sam in illinois. Sam. Caller jim. Booyah booyah, chief. Whats up . Caller i would like to get your thoughts on vale corp, the rise over the last year. You know what, jewelry business has been strong. Let me do a take out on zale. Let me do a lot of work there. That stock is way too high for me. Jim in florida. Jim. Caller hey. Jim from boca raton. Triple booyah. Yeah. I love boca raton. I wish i was at that hotel i love so much. Whats up . Caller i wish you were my portfolio manager. Pioneer natural and core labs. My question is wynn resorts. What are their prospects . 200 bucks. Steve wynn is best in show. I like adelson, too. Holy cow, steve, i know you watch the show. You are always welcome on the show just as you always welcomed me to your casino. Today we saw what happens when washington gets out of the way. Lets do a little celebration. Coming up the right key . Some big banks are square in the sights of regulators. Why not look a little closer to home . Regional key corp nice earnings. Is it time to make a deposit . Find out. Later, buffett talks. If a cop follows you for 500 miles you are going get a ticket. Oracle of omaha stepped into the ring to defend a wall street heavyweight today. Does buffetts blessing make the stock a buy . Cramer is making the final call. Slick stock. The u. S. Is finding more black gold than ever before. Oil servicer core labs is on the trail for more. Will it push the stock higher or has this well already been tapped . Dont miss cramers earnings exclusive with the ceo, all coming up on mad money. With compromise in the air in washington maybe we can get back to talking about earnings. Who would have guessed the banks would actually be reporting great numbers this earnings season . Im not just talking about the big guys, not just talking about bank of america which could deliver a good quarter. No, im talking about the kind of banks i tend to favor above all others, the regionals. This is key. Reporting terrific numbers. Jumped 2 on the news. 50 cents away from its 52week high. The cleveland, ohio based key is one of my favorite banks out there. Over a thousand branches, 24 states in the midwest, northeast and pacific northwest. Like it so much we have it for the Charitable Trust. This morning, key delivered a five cent earnings beat off of a 20 cent basis driven by lower expenses and tax rate and Net Interest Margin but the bank makes a difference between the low rate they pay few for deposits and basis points. Climbed by two basis points. Net charge loss for bad loans at their lowest levels since the beginning of 2007. A lot of excess capital and returning aggressively to shareholders. Bought back 16 million shares. 2 . Stock has given you 30 gains last time we spoke with the ceo in january. Lets check in with the chairman, president and ceo of key corp. Learn where her bank is headed. Welcome back. Thank you. Congratulations on what i thought was the best Net Interest Margin quarter of all the banks i have seen. How are you able to make so much money off of the deposits when everyone else is shrinking so fast . You are right. We had a very strong Net Interest Margin quarter. We did not see the contraction that was predicted or has been seen in many other banks. Its really a combination of managing our liquidity levels, reducing the costs of interestbearing liabilities, huge lever for us and just managing our loan deals has brought in a solid performance for us. You also did just to speak of lending more, long term growth by 11 increase from the prior year. Commercial, financial, agriculture, just your areas of the country are booming . Are you winning share . Whats happening . We talked about that last time i was on and thats a very intentional strategy of ours. We see it evenly across our markets but what i would tell you really is the driver is we are taking market share. We have a very distinctive Business Model where we are going in targeted client segments and targeted industries with a full array of products and you can see it in our 11 year over year commercial loan growth. We are leading the peers well outpacing in that area where we are winning business taking share and expanding relationships. Which are the you do have a very big footprint. Which are the areas that you are taking the most share and which are growing the best . Whats interesting is i would say it is more about size of company than geography this particular point in the cycle. We see our Larger Companies borrowing and being willing to entertain a proposition like key because of the wide array of products we can give from debt, equity and m and a and treasury management. Some of our smaller to mid sized companies are being more cautious at this point in the cycle because things are so uncertain. So we really saw a good growth across the franchise but to our largest middle market companies. Okay. I know that chris corman in the Conference Call talked about the idea that a couple of clients were he used the term very cautious. Do you think there is any possibility that will if we do have a compromise here, some of that cost could evaporate between now and year end and produce more loans . I will tell you that we as i said, have been growing through taking share in a year where the tone of our consumer and our business clients has been cautious all year. The level of uncertainty in the environment, a slow growth expansion, tax uncertainty, uncertainty in washington, it has been a cautious environment all year. I dont think a resolution today in washington which we are all very hopeful that they will indeed get the votes in and do the right thing today. It will not necessarily unleash any pentup demand. It is as steady as she goes economy that we need to continue to outperform in. There is one part of the economy of which some of your geography hit which is oil and gas. I have to believe that you are seeing commercial and residential loans being given in those areas just because there is a boom going on. There is a boom, and particularly when you look at the marcellus and utica shale, those are huge. Natural gas, oil energy, housing prices, that is coming back. I think the underlying fundamentals in this economy are getting stronger and stronger. Even if it is slow growth. You were one of the few people that can explain the Multiplier Effect of different projects in oil and gas. When someone builds a pipeline, when someone starts drilling, what are the ancillary loans you get at key corp . We get everything from the consumers and homeowners, who they are drilling on their land, leasing their land, you get the workers coming in to i call it the think of the alaska pipeline, the workers actually move there because the jobs are there. It brings in housing and it brings in ancillary services and not to mention that we are lending not only to the companies that are providing the drilling and the exploration but we are also very much supporting all of the support businesses around it. It is a spillover effect and as you look at some of these areas that have the shale and the natural gas, its adding multiple points to the state domestic economies. Terrific. You are the first person that came on and said that as a banker. It is great. During the quarter, i see that you close eight more branches. At what point can key go on the offensive and start opening branches . Jim, we have actually been doing a combination over the last couple of years opening and closing. I look at it as just prudently looking at our Branch Infrastructure and saying whats the old bottom 10 . Where can you get more efficient and take out something thats not really adding value. All the while looking at how do you invest in digital, mobile, where could you open a new branch that would be good for your clients . I think it is good Old FashionedChannel Management to think about opening and closing and it has helped us become more efficient. Your recoveries, recovery up 12 million or 41 . Linked quarter basis, why would you have had such success . Thats a remarkable thing. I will tell you, credit quality as a real standout this quarter. We had the lowest level of net charge off weve seen since the First Quarter of 2007 and some piece of that was in recoveries. We had several loans, again, we are at the point in the cycle whereas loans are recovering, we are getting some pay backs in recoveries because we have seen companies recover to the point where the value of the collateral is coming back. One last question. If we do see rates, ten year goes to 3 1 2, 4, would you be one of the banks that begins to make more money . You know, we are actually more tied to the short end of the curve. 70 of our loan book and Balance Sheet is tied to either overnight or 30day rates. So we actually would look for the short end of the curve to go up to make more money. The long end of the curve going up would mean that the Federal Reserve is more comfortable with this economy and willing to start tapering and i think that would be a good thing for the markets and economy. You delivered. Regional bank that has been a star in this country. I thank you so much for coming on mad money. Thank you, jim. Thanks for your support of key. Of course. Thats beth mooney. Look, you were always saying to me how about a 12 stock, how about a 15 stock . How about key . These were great numbers. Coming up, buffett talks. If a cop followed you for 500 miles you are going to get a ticket. The oracle of omaha stepped into the ring to defend a wall street heavyweight today. Does it make it a buy . Does it make it a buy . Cramer is making the final call. Warren buffett made a lot of great points with becky quick this morning. I thought his most poignant comments were about the about the governments pursuit of jpmorgan, jamie dimon, mortgages underwritten by bear stearns and Washington Mutual. Two banks dimon bought at the behest of the u. S. Government. They had nothing to do with making or packaging horrendous loans. They were from the predecessor banks that the government came to jpm hat in hand in order to save the Banking System from imminent collapse. Let me say that no bank has clean hands from that period. Jpmorgan packaged and sold a lot of loans it defaulted. Jpm showed a serious lack of controls when it came to the rogue whale in london where the losses did get out of control. The firm paid for that mistake. Shareholders have. I wouldnt have paid any Management Team member for that year as everyone should have suffered equally. But there are larger issues of fairness here and thats what warren buffet was talking about. First he said the government was pretty darn happy when dimom came to the rescue. They loved that when jamie took over wamu and bea