The dow losing 53 points. The nasdaq dipping. 19 . Lets go over how oil can be crushed so badly, down 1. 78. Weve got inventory numbers that indicate we have oil coming out of our eyeballs. How much . Total petroleum rose to 2. 1 billion barrels. Were being flooded with crude from overseas and still pumping here. Weve found a triple off the bottom. Theyve found out how to get more out of the ground than they could two years ago. In the last 18 months it should dazzle silicon valley. The reduction of Oil Consumption because of newer and more efficient engines. Investors must presume there must be slackening in demand due to a weakening of the economy. They never stop to think about innovation, technology. I get that. One of the things weve experienced this summer is the resurgence of things like housing, all because of job growth. However, in order for the stock market to absorb the rate hike, weve got to feel confident the economys firing on all cylinders, dont we . Theres no way we can fuel that if our best thermometer of the economy, oil, is falling out of bed. Now i think the preoccupation with oil is positively insane. It doesnt take into consideration all the innovation. While its true youve had success in nonfossil fuel turners, theyve been meager, and not the reason why the o countrys using 1 Million Barrels less than it did. It has dramatically cut Energy Consumption for buildings. How with innovations in airspace. Airlines use an incredible amount of fuel, something well speak with oscar munoz about. Amazing innovation has the ability to cut airplane consumption by 20 . Or the lightweight ford and alcoa product which will amount in a decrease in fuel consumed by the pickup. They assume demand must be falling off a cliff or else we would have taken off those fuel consumption levels. That means fuels going back to 40, and morselling will materialize in the stock market. Im regarding this as an opportunity for some stocks, because i realize that Technical Innovation is whats driving things, not an economic slow down. Where are these oilinduced pull backs create the most opportunities . The cyclicals. Those are what got sold down the hardest today. And when we think oil weakne nn leads to economic weakness, thats what we sell. The oils in particular can not be bought at this moment, though, not after this remarkable run because the hot money in the group has to flood out of it and then the opportunity will come. Its incredible we have enough Storage Space in this country, right . What else is driving stocks down . Ro r lots of managers are doing badly. They want to change their fortunes, take matters into their own hands, but not too into their only hands. The sec doesnt like marking up. Thats where Money Managers come in guns blazing. If you own the stocks, you can make it look as if your fund is performing a lot better, thats why the sec is all over the last trading day. So they ensure nobodys inflating before the bell. The markup happens three days before the end of the month. The sec scrutiny doesnt seem to go that far back. Three days later, the jig is up, Money Managers are anxious to get out of these stocks. So they call to drill the marked up stocks down. They get a good opportunity. I know many of you dont believe this stuff happens. They saw them being marked up two days before and use that false strength to blast out of their positions at higher levels than they could otherwise expect. Finally, theres high multiplitis, thats my term for what happens when a high earnings multiple disappointments. Thats what happened with palo alto get works. They reported a stellar quarter, 33 growth, dramatic increase in billings. The market loved it at first, however, if you were foolish enough to take action on that release as many were because the stock traded up 6 in afterhours trading, you got stuffed on palo altos Conference Call when they cut guidance in a way that implied a genuine deceleration. Now that might have been okay if it wasnt trading at such a stratospheric level, average stock sells 19 times earnings. Anything with a high multiple needs to beat and then raise its guidance. They slashed the guidance, leaving analysts to cut their numbers. Hence the 7 decline. I think well see the same thing happen tomorrow so the stock of sales force. Com, as it, too mixed projections. We will speak to the ceo later in the show and get answers to why they produced shortfalls in several key metrics that i follow. The whole day could have been a lot worse, but ive seen many of the same back up after they got ho hit. At one point it looked like a pretty darn nasty day, nevertheless, giving the hammering of sales force, and the expectation of Lower Oil Price i think the selling could continue tomorrow. Steven in new york. Steven . Caller hi, jim. First time caller. Love your enthusiasm. Thank you so much. Whats going on . Caller well, i own alcoa, they announced a one for three reverse split. How is that going to affect the anticipated splitoff . Heres the deal. Alcoa did that reverse split so the stocks stay above what they hope. And theyre betting that the s p, which keeps the s p 500 will not kick them out because the stock price is so low. There has been a strong propensity to eliminate stocks that sell below 5 on the s p. Kyle in texas. Caller dr. Cramer, love your show. Under armour. Love the company. Little worried about the downgrade. I saw its all about profit margins. Should i holidd on . Probably short term theres a hiccup. But, you know what . I think you have to take a longer term perspective with under armour. I believe in kevin plank. Hes a very, very good proselytizer for the stock. Now from some of these highprofile disappointments. If you understand the inner workings, waiting for a red hot economy might work. Oscar municipal yoiz oz is comi. Then, changes in Buffalo Wild Wings. But before you slide in under the wing, you wont want to miss what we have to say about it. Then sales force. Com, i have the ceo to decode and explain. Stay with cramer. Dont miss a second of mad money. Follow jimcramer on twitter. Have a question . Tweet cramer, madtweets. Send jim an email at cnbc. Com. Or give us a call at 1800743cnbc. Miss something . Head to madmoney. Cnbc. Com. At pg e, we believe solar should be accessible to everyone. Our partnership with habitat for humanity allows us to provide the benefits of solar power to the types of customers who need it most. Pg e provided all of the homes here with solar panels. The solar savings can mean a lot, especially for lowincome families. With the savings that i am getting from the solar panels, its going to help me to have a Better Future for my children. To learn how you can save energy and money with solar, go to pge. Com solar. Together, were building a better california. Yesterday was a pretty crazy day for the airline contingent. Some played Musical Chairs with their Management Teams. And was let go. Investors lapped up this move sending you all stock 8 . It has spent most of 2016 being treated as a punching bagby the market and two activist firms that have been hounding these guys. So with its new Management Team in place, does this company have what it takes to send its stock higher . Lets talk with oscar munoz whos closing in on his oneyear anniversary at the helm. The other day, scott kirby came from american to you. He was let go by american, and your stock went up 1. 2 billion. Is that a metaphor for what people think he can bring to it . How can one guy move the needle that much. Theres probably less than a handful of folks that have that level of intellect and understanding of the puzzle that networks are in the airline industry, and hes a great addition to the team, and were glad to have him. Some people feel he was brought on because there are still issues in terms of logistics and how the airline is run. Youve been there for a year. There are metrics that have improved, but everybody can do more improvement . First and foremost, the team has done an amazing job of transforming. Grant card, our Operations Leader has done a wonderful, terrific job on time, baggage. You go down the list. Weve taken a step upwards. The addition of scott and levy and heywood. Lin linda jojos new. He is the icing on the cake. What i find interesting, this is supposed to be the halcyon days. I dont fknow why the stocks sel at the low multiples, its the lowest of any stock i follow. I have if to believe that the issue is weve seen capacity grow faster than demand, how can that change . Well, it changes in many ways. Thats a great and perfect example of the strategy work that were doing at united. I think from my perspective, not coming from the industry, solving that particular solution is going to take someone thats had a lot of experience, with regard to things weve been doing in labor and the rest. If american comes in and cuts your price or spirit comes in, i thought we were done with price wars, oscar, how can we have price wars again . Im going to stay away from the entire pricing angle. I think if you hearken back to the days of csx, i thought the market discipline that all the Market Players brought to the industry, i think thats a great example of what we have and will continue to do in the airline industry. Wilets talk about capacity increase. We get the feeling that at any given time the capacity can go up. That should lead to higher fares. Our viewers dont want that, but the shareholders want higher shares. We are market based, by and large and have to differentiate our product in many ways. Pricing isnt the only one. How do you allocate your capital . Market capital is 16 billion. Would you be satisfied if you bought it 2 billion worth of planes, or is it better to buyback the stock . It really hasnt done anything. The buyback has not worked so to speak. Capital allocation is something that people there rise abo about all the time. What do we need . Assets, resources, planes, we need to satisfy part of our shareholder group. At some point in time we get to a healthy place where we can announce a dividend. When we announce our longterm strategic view of the world, i think youll see a disciplined form of allocation the companys going to do going forward. We have too strong a dollar, people who are scared. Theres a lot of fear in the world about going to europe. We have a competitive dynamic, that makes it so its hard to have better numbers yearoveryear. We have seen nothing but yearoveryear declines. When can that end . When it can end, you know how it works. Its a cyclical world. Our job is to prepare for all sorts of the ups and downs, and right now were facing a little bit of head wind with regards to the economy and fuel and those issues. Thats why you put a great team together, a strategy that takes care of all the different cyclical events. When it pops up youre ready to go. You had activists come in. You had health issues, congratulations. I understand that you made a good come back, obviously, with the new heart, but are they, are they satisfied with the metrics in the group or are they giving you a hard time on the board . Listen, the board is still in their forming board. Our new board members, preexisting board members. We may have the best board in the industry along Management Team. So were ready to go. From the standpoint of knowledge of the business, plus, hes been a great, like a lot of other board members, a great mentor with regard to the things were trying to do in the business. As weve recruited our folks, he has a level of insight and knowledge about the technical acumen, so we have the good fortune to have him help me interview some of these folks to make sure that beyond the leadership leadership, they have the technical ability. Whats difference between the railroad, on time matters a lot. Capital matters a lot. You have fractious labor situations. Give me the idea on csx. It is indeed a very Competitive Industry over in the rail space. Listen, i think at the end of the day, the difference is it is more of a people business at the airline. Every day, over the course of the year, 140 million customers. And i need to absolutely inch gauge and create that purpo. Worried about zika . The miami thing has been a little concerning but contained. Were doing a lot of decontamination of our aircraft. We hope it doesnt spread. Traffic down in those routes . You have brazil and the olympics. But Central America has been relatively soft, not necessarily zika oriented. Oil going down, but a lot of times you get hedged, and you dont do as well as we think. Oil is going to do its thing. Its volatile, and we will act accordingly. How about cuba . Weve got daily frighlights of here. Thats a great frequency. And Business Travel . We want to get a sense from you about how well this countrys doing. The Energy Sector is hurting big. The banking world and consulting world continues at a fairly moderate pace, a little slower. Its summer, but coming back in september we hope to see the uptick we normally see when people get back to work. Thats oscar munoz, the ceo of United Continental holdings. Coming up. On the top and bottom rhinlit was an absolutely great quarter. Cramers got the newest data from sales force after earnings. Mapping the oceans. Where explore. Protecting biodiversity. Everywhe wrk. Defeating malariversity. Improving ener effncy. Developing more clearningnatur. My job . My job at exnmobil . Myturninalgae fuels. Redung energpovert in theelopg worl making cars go further th less. Fueling the globalconomy. And u th ught we just made the gas. Energy lives here. [engine re] heering] the high advanced audi a4. After getting the stuffings beaten out of it for the better part of a year, buff row wild wings finally seems to have found its footing last month. The beer and wing stock has plunged from 200 at its peak down to 134. They started reporting a series of disappointing quarters. They missed estimates. It got to the point where it seemed like every time Buffalo Wild Wings reported, its stock would get slammed because the numbers kept getting worse. The insurgence in the stock price as been remarkable. Stock trading 162 as of today. Some of the move is because of the company did indeed report better than the end of july. The main reason, an activist investor got involved. Mer kau toe capital announced that it owned stock. The peer fa over the past couple weeks, mer kau dough has been saber rattling. The activist firm appeared lack lustre. What are we supposed to make of buff ralo wild wings now that ty have activists at the gate. More skilled activists do their best to try to unlock value. Think of the tri ad partners. It request can be a distraction company trying to get back on track. I think its important to look at mercato. After joining a coalition of investors, they took large stakes if sothebys. They haveve advocated several strategies. Sothebys was trading in the mid30s when mercato got involved. Merca mercatos largest stake, their performance has been decidedly mixed as the fund sold off 40 of its position in the bank of new york earlier this year likely at a loss. Part of the problem is that mercato tried to oust the ceo at a time when nelson peltz was defending him. I dont know, it seems like hitting single, not a home run. Mercato owns 10 of good year tire and rubber. Good year wasnt a good activist position. It is a pretty big ask. So far im not sieeing much tha would make me think anything would be a buy just because you saw the faname mercato involved. We learned of the 5. 1 stake in the company. Then it was reported that mercato had been having constructive talks with the company. Then Buffalo Wild Wings reported a maked quarter. The results werent as expected because the rise of chicken wing prices. The company would either get its act together or mercato would make them or force a sale. They held the annual analyst day where the Company Increases buyback. And they also talked about multiple initiatives. Still, the activists were not impressed and in response published a letter that theyd already sent to Buffalo Wild Wings chairman. They called for the company to make substantial changes to its business practices, end quote. They want to bring in fresh talent at both the board and management levels. They want their own seat on the board and called for a greater focus on operational excellence, an urgency in follow through and accountability and managerial tools. And rolling out new restaurant concepts. Buffalo wild wings said they would consider these. Mercatos suggestions are a lot more vague. A focus on excellence . Those arent plans. They are getting companies to buyback huge slugs of their own stock. It is a small price to pay to get an activist off your back, aint it . They did announce that 300 million repurchase. They have rallied 15 , 15, even though the company hasnt given us any reason to believe until we see some evidence of a turn around, i really dont care that theres an activist at the gate. Lets go to robert in new jersey. Robert, its jim. Robert, you got cramer here. You got your lines crossed. This is cramer from that show mad money. Caller i want to know about mcdonalds, i want to know if its a buy, a sell or hold. I bought it with my grandkids to grow with them. I like the yield, i like what theyre doing, im putting it in the hold category because the stock is in a Holding Pattern having a lot of easing jobs. Lets go to tom in ohio. Tom. Caller hey, jim, love your show. Few questions. Whats your outlook on dominos pizza, do you see it splitting . And i bought it at under 10. Should i sell some of it off . You bought it when patty doyle came in. Anytime somebody sells dominoes, they regret it. With you in that 10 basis, you ought to sell a lot. And then you dont have to worry if the pizza comes with no cheese or banana peppers. Eat the pizza, drink the beers. I dont care if theres an activist knocking on the door, i say sidelines. Find out what a ceo reveals about a tough quarter. And maybe you heard september can be unkind to the stock markets. Ill reveal the reality. And a goodbye august edition of the lightning round. Bring your best questions and stick with cramer. This car is traveling ov 200 les per hour. To w, every millisecond matters. Both on the track and thousands of miles a