MAD MONEY 文字起こし 22JUN21 Nextdoor CEO, GSK Investor Day Preview & CNH Industrial CEO

ジムクレイマーのMAD MONEYの文字起こしになります。米国株を英語学習を通じて投資したい方に向けて作りました。皆さんの反応を見て改善点や英語解説などい追加して行けたらと思います。とても有益な番組なのにジムの英語が難しくて悩んたのをきっかけにこのノートを作成しました。 聞き取れない部分もあるのでご了承ください。

是非MAD MONEYを聴きながら合わせてこのnoteをみれば、様々な州のアメリカ英語を聞くことでリスニング力を鍛えることが出来ると同時に、タイムリーな米国株投資情報を得ることができます。　イイネ！と思った方は投げ銭いただけると嬉しいです！

窶皿ad Money w/ Jim Cramer: Nextdoor CEO, GSK Investor Day Preview & CNH Industrial CEO on Apple Podcasts

0:50
I'll do one right friends. I'm just trying to make some money. My job is not just entertain you but educate and teach you so call me at one 807 43 CNBC, or tweet me at Jim Cramer. Alright, we've endured the mean stock crazy collapse of Bitcoin. It's a surprisingly low levels. Although it's still more than doubled since last fall, we've dealt with Fed officials making clear that they're no longer the side of the bulls or the bears nothing. They're on the side of the job growth, but still wary of inflation. We've seen the end of the rush to get vaccinated, which means millions of Americans will get the new COVID variant because they refuse to get a couple of injections. With watches the hopes for the infrastructure bill have collapse. We've endorsed shortages of everything from chips to plastic to importing goods to labor. And we're still standing. Yeah, yeah, yeah. Yeah, we got an elton john walking going here, dow gained 69 points as to be climbing point five 1% NASDAQ jumping point seven 9%. all time high. We're now in a moment where the masks are off, even if it shouldn't be. And Americans are back to doing what we do best spending money. I think this is one of those times where we can afford to do some reflection. Even if the chat See, things are cool. It's not a big moment. There's no real news for bit. And it's historically strong period for stocks we're heading to have going. Now, when you pick stocks, you're trying to identify superior companies. But you can't actually do that unless you know what those companies do. I always say that you shouldn't own individual stocks, unless you have the time and inclination caps you do a little homework. That means reading the quarterly reports of the cops school schooling, some articles, possibly getting your hands on some sell side research. If you can't do that, again, you're better off sticking your money in an index fund because when the stock goes down, you won't know what to do. My rule of thumb here is simple. If you ran into me on the street, and the reason I mention that is because people are now running me running to me on the street again. And I asked you why you like a certain stock? Could you give me three reasons. And I mean real reasons at this, you write something because it's going higher, or because your buddy told you it's going higher. If you don't know how they make their money, or who the key clients are, or even what businesses they're in. Then you got to do what I've been telling people catch me down on Wall Street want to see maybe you got to sell, you got to sell now. Okay? Because if it goes down, you're going to sell it then I bring this up because without a mask people can recognize me. And assuming I'm not holding Nvidia the second. Also known by the way is Ragu. I can carry on a conversation. But in the last week when I asked people about their favorite stocks, I found myself at a loss because almost no one seems to know what they still they thirst is for individual stock knowledge because they know businesses better now than they're coming out of the pandemic. They actually wish they could own better stocks. So what do I do? Look, I can't make you do research. I know you people will buy individual stocks regardless of what I tell you even when they should. And that's why I'm trying to be pragmatic tonight about this. So I got a list you want less homework I got the less homework list. You need to buy stocks that are one easy to understand. That sucks like unity software, snowflake or Twilio or aka I mean to you, you should still try to Google some articles and brews the coffee school. But most of all you need to know and like the company's products so you can constantly buy more if the stock goes down. So let me give you some of the most accessible stocks I know in this market stocks that are perfect fit for a lazy lower homework portfolio. So if you bump into me on the street, you can say hey, I bought the buy in at what you know stocks or I was really lazy and I bought the bars no so the first one.

4:44
Just right there for you Ford. I think the new Ford lineup is amazing. The electric f150 series will be incredible. Personally, I'm eager to get a maverick for my family because it's a smaller pickup that can get the job done on this farm I bought with the winnings my crazy foray into bitcoin. I liked it. Competitive Edge of Ford's new CEO who says he's going to bury Ilan musk when the lightning electric truck comes out. I love that right. Who's ever heard Ilan musk? This guy? Well, I think the bronco you see the bronco. He's pretty cool. Most important though, Ford's been hobbled by the chips shortage, and my sources tell me that that shortage is easy and will end in the next month. My semiconductor friends tell me that the foundries are producing more features chips, which means Ford can pump out new cars and trucks the way it should. Plus us car prices have finally plateaued last 15 days they've been about the same and that tells you new car production is coming back. I like Ford change chaining second lower stock Casco the free samples are coming back. What more do you need to know you need things in bulk right? You want low prices maybe you need insurance, hearing aids Hey, they got all sorts of stuff you might think about. If you go you'll buy far more than you first came for. It's my cotton store and remember they make the money off the memberships and the memberships are going to grow and China is where the action will be seeing low effort stock number three American Eagle Outfitters now known as a e o. The kids love this one and we just bought it for the chapel trust which you can follow along by joining the action alerts plus calm club when Jay schottenstein the CEO came on this show recently he made it clear that this area and that's at our brand has real staying power. Did you know that it said 26 consecutive quarters of double digit growth 26 that's a flash in the pan right? Number one brand jeans for the 15 to 25 year old demographic and denim is harder than I've ever seen it the best the mall. How did I learn about this one first though? Simple. I see the credit card bills but went from stock number four. Can I revert back again remember that I mean everybody knew about it's kind of ridiculous I can't talk about is repulsive after a while. Yeah, I do physical therapy. I have this really cool pair of sneakers. I'm not gonna say what they are because I can't pronounce it. But they fit me perfectly. And saucony Saccone helped me here, so Okay, yeah. And I love them. And I'm always taking on like vacations too, and that means I misplaced them. So I went on Amazon this morning, and lo and behold, I sold those shoes for half price at first I thought was only one shoe.

7:22
Then I realize now they're half price. And I went over everything I bought in the last year and then I got a bunch of those things. I bought everything on half price. I bought a pair of binoculars I thought it was like a one ocular you know, no one were stolen half price. Amazon Prime. Yeah, the prices are insane. Yep, Amazon's universal. So I was chatting with Alexa while I was ordering. I mean, who else is up at 3:30am? Right? I mean, other than Alexa, get some new music asking questions. I saw that despite all the Sturm and Drang about Amazon orders coming late, all the delivery dates within range, and they don't put some delivery date in and blow it. Now I didn't click on ad ads. Although I did buy a pair of shoes this week by mistake. I didn't need the speed of the of the Amazon Web Services Division. But the whole thing reminded me how special this company is. I don't care if it's ahead or behind for the moment and plan. I would just buy some and buy some more when the stock goes down. Find a low effort stock. Apple. Now if you don't own Apple yet, you should look at what you're holding at this very moment. Go look, look at what's in your hand. Yes, wait now, or look at what's in your lap or look good on the table besides your fork and see olymic new pencil and then think about the bill you paid last night without knowing it. Yes, that's right for the service trip. Think about what you bought in the app store yesterday, think about what would happen if your phone were to break or get stolen or left in or Uber or heaven forbid dropped to the pool or or even the toilet it's been known to happen. There. That's what's good. This you buy in a good environment something like this. And by the way, oh, Siri is not hurt. If you call her Alexa, she just says no problem, if you call it if you say that by mistake. Now, in this environment, you don't want to invest too much time in, right? You just want to go for stocks that companies you know and love because they get hit. Well, I'm giving them to you. Okay, there's five, these are five that I've done a massive amount of homework for. I'd like to think I can't be out homework on any one of these. And so I can keep you up on them. And then you don't have to think while I wish I had some stock that Jim light. You had the confidence to buy more into weakness. Here's the bottom line. Except this moment. It's a good one. Don't try for the hard money right now go for the easy money because the easy money is the best kind. Marvin's in Florida Marvin.

9:44
Jim, thank you for taking my call and kudos for your staff who sets up these phone calls? Oh, no problem. You I've been watching you to the days of could look Kudlow and Kramer going back many years following You all through those years and have enjoyed and profited from your expertise in the markets in this stock,

10:08
you are very nice. I come to work every day despite my wife's insistence not because people like you. I mean, you made me realize this show is of value. And I really thank you have a bump in the street now by a white

10:21
guy who enjoy your exuberance and boundless energy. I still love it. It makes it so delightful as well as informative. I have bought zoom video communications very early on, I booked a very nice profit, of course, it's down from its highs, but I still have a big profit I sold half when I doubled. And right now, my concern is because of its high price earnings ratio ratio, doesn't have enough growth to justify that going forward. All right, well, you

10:59
told me several things there. Marvin, first of all, you told me sold half so you're playing with the houses money. I really liked that. Second, you're worried about the growth, which everybody's worried about, but I would tell you that if I didn't like argue and selling a lot of stock yesterday, so the insider sale, but if you think that company is in a moving party, if you think they're just gonna sit there and say, okay, we've done everything we're going to do. That's wrong. I applaud your decision to stay warm with the rest of it. And I think you'll be okay. All right. Thank you those kind comments my staff Thank you do but don't be a hero. I want you to go for the easy. Is there anyone out there? Okay. You may not know this one. Okay. But as your kids, your kids always notice. Right? All right. This is the best kind the easy money on man tonight. President Biden the next us lead will not reach his goal of getting 70% of American adults vaccinated by the Fourth of July. I guess some people want to get this variant. They must think it's very special, but it's not fun to try. I'm talking to the CEO of next door to find out how it's working to get out the vaccine word. Then tension is building in the run up to GlaxoSmithKline. Investor day on Wednesday. With the CEO Phase II challenge from activist investor WhatsApp for the company. I'm going to tell you what to watch for. And cnh industrials, plowing deeper into agriculture. $2.1 billion acquisition of precision ag company Raven, I'm sitting down with the CEO who happens to be a familiar face Scott wine, so stay with Kramer.

12:22
Don't miss a second of Mad Money. Follow at Jim Cramer on Twitter. Have a question? Tweet, Cramer hashtag mad tweets, send Jim an email to Mad money@cnbc.com or give us a call at one 807 43 CNBC miss something head to Mad money.cnbc.com get an edge invest like a pro access CNBC is live streams around the globe unparalleled access to CNBC experts actionable investor insight and ideas start your free trial today@cnbc.com slash Pro.

13:09
TV got a disappointing update to the White House no doubt we will not be able to hit President Biden's target the 70% adult vaccination rate by the Fourth of July. Turns out a lot of people don't want to get vaccinated, which I think is a very bad decision. We didn't do better as a nation if we want to avoid this new COVID strain that could be even more lethal. That's it's certainly easier to catch. That's why I'm so encouraged to see private companies stepping up to help out where they can. Private Companies like next door the app that helps you connect your neighbors and keep track of what's going on in the neighborhood or post all pictures which is what my wife looks at every day. Earlier today. Next Door announced the launch of their COVID-19 vaccine map sponsored by companies that we like Albertsons, and Madonna. This map will locate nearby vaccination locations and let local schedule appointment. I think it's fabulous, which is why we're checking in with Sarah fryer, the CEO of next door, you might remember her as the last job, bankable CFO of square hear more about this initiative and everything else her company's doing to fight the pandemic and help neighborhoods this fire Welcome back to Mad Money. Thank you, Jim. It's great to be with you today. So Sarah, I know that there are a lot of people who have not been vaccinated. How many of them do you think haven't been because they don't have the kind of information that next door is going to be providing? And how many just because they somehow don't want it?

14:24
So it's a great question. We know that 47% of the US population has not yet received a vaccination dose. And when we go out and survey the neighbors on next door, we know that 37% of them so almost two fifths or 40% say they would get a vaccine, if they were seeing more information, they could be encouraged. And one of the things we know about neighborhoods is it's often finding the right influencer is the key to getting into that neighbor's psyche and getting them to perhaps change their mind. So that's why we're launching the vaccine map today. And as you That munching with Albertsons companies and majorna to great brands who are helping us get the word out,

15:05
although I want to go back to what you said, because I know social media has got influence, but there'll be people who say, look, I got it. And it's great. I mean, who's an influencer? in the neighborhood about the vaccine?

15:15
Yeah, so it depends on your neighborhood, I would say, you know, some neighborhoods, it might be the local pastor. In some neighborhoods, it might be the high school football coach, right? It just depends. But it's actually usually not celebrities. It's not usually folks like you, Sergeant. It's actually the people near and dear that are in your local proximity to you, the people, you trust the people you talk to every day, and it's often not about them telling you the why to do it. It's telling you that they have done it. And that's what gives people confidence. And so we know when we get that sort of message onto next door, it can make all the difference.

15:51
Alright, so since we last saw you, Sarah, I know when I go, my wife goes to your site every single day. Now some of it is because we're dog lovers. And everybody posts by me. I've been begging, we just got a dog. Yes, yeah. I've been begging my wife to poke, poke up, put some pictures up. But she also likes to find out what's going on in the neighborhood crime, but also new stores, any little review. And now I'm seeing some ads. And it seems like the rates are good. How's our people doing on?

16:16
Yeah, so right now people are doing great on next door. So when I spoke to you, I think about a little over a little under a year ago, we were about one in five households in the United States was on the platform. today. That's nearly one in three. So like your wife, more people are coming, and they're coming with daily engagement. We've broadened the aperture to think about more neighbors, so not just individuals and residents, but also local businesses. Sometimes it's national businesses who act really local, like an Albertsons, for example. And sometimes it's public agencies or nonprofits. So you're getting information that's trusted and real time from a really broad range of sources. People are much more engaged. Our Dow's were up our daily active users were up 50%, year over year in 2020. And we continue to see that engagement sustaining. So I believe that structurally, consumer behavior has changed. People are spending more time local, and I don't think we're going back to how we were pre pandemic.

17:13
Well, I'm glad you mentioned that, sir. Because I was with a couple of executives yesterday. offline, you would know. And they were amazed that the urban areas some parts are depopulated. But then other parts, say like Brooklyn versus Manhattan are thriving. Are you seeing zip code by zip code that the core urban areas just don't have the activity that you have?

17:36
No, I wouldn't say that. But we do see a lot of movements. So I think Zillow actually showed that one in 10 Americans have already moved in the last year, certainly mid Penn that Mike, we saw flight from urban areas out to the suburbs, but we actually see movement back now as places like Manhattan really come back to life again. So it isn't, per se that one thing valued over the other. But I do think people have moved around a lot. And the other big trend we hear a lot is people saying I don't want to return full time to an office, right right here. Next year. We talk about work as a verb, not a place, right. And so you get your work done. But where you get it done in certain industries, we can be much more flexible. So we see things like fortune saying three out of 10 workers don't want to return to an office think they'll rarely do it. And so that means they're going to be working much more locally. And that's great for local businesses, for example.

18:29
Alright, so some people are tired of Yelp. Some people have issues with Facebook. We know that there are various times Twitter's that kind of offbeat Pinterest just to hobby oriented. What we need is a new local newspaper nationwide local newspaper as an IPO. Will you give us that IPO Sarah fryer?

18:49
Well, we will raise money when the time is right. If we were to raise money, could we invested Hell yeah. The platform is doing great at the moment, as I said, engagement is up. We're finding new, more diverse ways to monetize and of course we want to create keep creating new features and new products that keep that engagement rising. So things like the map groups, all of the stuff we've done around local and small businesses so we want to keep building when the time is right to come to the public markets. We will be right there to share that news story with you Jim. But we want to make sure we're ready to be that public company

19:23
Well, you're doing a fabulous job. It's just such a great site. It is just It is one of the people go back to again and again even intraday many times. Sarah fryer, just do a great job as CEO of next door. Great to see you again. Thank you, Jim. I don't know if you guys go I mean, you just put your put your zip code in and it gives you very quick you find out like for instance, what dogs doing next when he's not cleaning up after their dog. What's going on down with down the block new restaurant. I just think it's a terrific site, and I ever had any engage with my neighbor before man monies back yet.

19:59
Coming up Facing a big investor day should home gamers looked at GSK for some portfolio pipeline power. Kramer's got the prescription

20:14
to invest like a pro access CNBC, his live streams around the globe unparalleled access to CNBC experts actionable investor insight and ideas. start your free trial today@cnbc.com slash Pro.

20:38
Here's an exercise in what it's like to run a company. We have to ask ourselves what does it take for a struggling company to turn itself around? Especially a household name? Tomorrow GlaxoSmithKline the British pharmaceutical giant is holding an investor meeting. And strangely This is a uniquely high stakes event. She 20 years ago, Glaxo's den new CEO mo wamsley rolled out a plan to breathe new life into her sleepy business wives they decided that the company would merge its consumer health division with Pfizer's then eventually spin off the combined entity as a separate company that will leave the stub of Glaxo focus purely on drugs and vaccines. Fast grower, I first great plan, but boy it's taken a long time to play out. Tomorrow we'll finally get some clarity on what the new Glaxo will look like. That's why this industry media is such a huge deal. It's not the only reason though. This is also turning into an activist story. Elliott Management. Yes, the notoriously tough activist hedge fund group but a very smart group of people has taken a multi billion dollar stake in GlaxoSmithKline. And while they're not yet waging a public campaign against the entire board of directors, it looks like they might be coming for the CEOs head. If we don't see some big news here. See Glaxo stock has underperformed significantly ever since wamsley took over a little bit more than four years ago. company's got some difficult patent expirations coming up, the consumer spin up hasn't paid off yet. And worst of all, their storied vaccine business has been a total non entity, a no show in the COVID-19 vaccine race. If the plan is to separate the consumer division, leaving behind a pure playing drug and vaccine maker, then the plan is a lot less compelling when those businesses aren't doing so hot. So as GlaxoSmithKline heads into its pivotal investor meeting tomorrow, I want you to know what to watch out for lots of individuals own the stock because management could turn still could still turn things around. But if they don't, I think the activists at Elliott might start pushing for a major shake up that could be very good for shareholders. First, let me give you some background here. Okay. Emma Walmsley used to run GlaxoSmithKline its consumer business until she was promoted to CEO of the whole company in the spring of 2017. So this is a consumer business exec coming to run a drug company at the time. The stock was at 42. She spent a year and a half formulating a plan. Then in December of 2018, we get two huge announcements. First GlaxoSmithKline buys a little drug company called to Cerro for roughly 5.1 billion in order to get their hands on to Sarah's oncology pipeline, putting on a Varian cancer treatment that had already had FDA approval a couple of weeks later, we first learned about the consumer spinoff, which put the desiro acquisition in a new light. Once we found out the class was merging its consumer business with Pfizer's and then splitting them off into a separate entity, it became clear that the Sierra deal was part of a push to become a more focused, fast growing drug company. At the time. I was very excited about this move. I remember going out to the JP Morgan conference out in San Francisco. I said yes, this is the answer. Because in addition to the synergies from the Pfizer joint venture, the spin off should bring in a lot of cash to class who can use to invest in the drug business plus the stock market has very little affection for the current combined GlaxoSmithKline. So why not transform the whole company into two separate pure plays? The problem is the stock is done nothing while we waited and waited and waited for the breakup. Granted, Glaxo has been paying it away with the bountiful dividends currently yields 5.5% but lately we're starting to hear chatter that was he wants to take an active dividend because she wants to use that money and invest in growth. If that's really the plan, I think she's misjudged her shareholder base. There are a lot of people own Big Pharma stocks for the income. The lesson one is dividend calculus, the att people go as those shareholders att just pulled the same thing last month, and their stock has been obliterated. The dividends literally the best thing about the stock, it's called income. Who'd be a lot easier to accept this plan. If we had confidence in wom C's ability to grow the business. Maybe she can give us that confidence in tomorrow's investor meeting. I hope she does. However, this show is not about trying to make friends is it? It's been open you try to make some money. GlaxoSmithKline hasn't been much of a moneymaker under Guam's leadership in fact, stock's down three bucks, and she took office as CEO in 2017. And there are reasons for that underperformance for years Glaxo's earnings have remained stagnant. They made $3.10 per share in 2017. And by last year the earnings have grown all the way to

25:18
$3.15. Should be fair, Walmart has made no secret of the fact she's investing heavily in new drug development, but it's hard to maintain enthusiasm for stock after years of flatlining earnings. The thing about invest in growth is that there needs to be a pay off. With the looming spin off of the consumer business. Glaxo's futures now totally hostage to its new drug pipeline. They need to come up with some blockbuster drugs and vaccines, especially since we're up against some major patent expirations in the coming decades. Unfortunately, the company's experienced some ugly setbacks. Last summer there were some safety concerns about Glaxo's blood cancer treatment. Meanwhile, the commercial stage ovarian cancer drug they got them to sorrow is off to a slower than expected store. Same goes for Glaxo shingles vaccine, although a lot of that's because you're not supposed to take it with other vaccines. And right now everybody's focused on protecting themselves from COVID. Hey, speaking of COVID GlaxoSmithKline has a legendary vaccine business. It's considered to be a jewel. And they've been working with Sanofi to come up with one for COVID-19 it first of all look like they were off to a decent start, but then they started lagging behind Pfizer majorna jj AstraZeneca. Then in December when Pfizer moderna we're ready to go. We found a classic vaccine candidate created a weak immune response for older adults suboptimal, Glaxo and Sanofi are still plugging away. And they recently announced some positive phase two data, but they're just getting started with phase three I got attacked by the time and who need the additional vaccine. Still, this remains a quality drug company with an enticing pipeline, you're very cheap stock. problem is you could have said the same thing anytime in the last few years and it hasn't meant a thing to the share price. So it's no wonder the activists though it management want to make a change. They've held back on watching for proxy fight. Possibly this British regulators might crack down on an American hedge fund that gets too aggressive, although that's never kept the Elliot from going after companies and other countries. But at least according to the Financial Times, they want to bring in a new CEO GlaxoSmithKline had years of underperformance and with the spin off the consumer business, it's a little strange to have a CEO with consumer background run in the new company, every other major pharmaceutical is run by someone with a pharma background. So what should you watch for tomorrow's meeting? First and foremost, we need to know what they're doing with the dividend. Second, we want to see the new long term forecast for the post breakup, Glaxo and we need waiting to it looks like we need more insight into the pipeline, figuring out how they'll hit those targets. So here's the bottom line. If the rumors are true, and GlaxoSmithKline really take some meat ax to its dividend that I think you need to be prepared for the stock to get slammed as income oriented investors dumping but if it sells off, you could get a good buying opportunity. Either mo wamsley tells a great story tomorrow. It gives people more reason on it. Or she tells a suboptimal story you know it management pushes for new leadership could be a win win. If Glaxo pulls back to the mid 30s need to go to fill in New Jersey please fill out the claim Rory I am doing well. Good here again. So what's up?

28:15
Likewise and I have a question about Thermo Fisher a few weeks ago. I had my eyes on the stock a pullback 10% down around 440 ish and I'm never thinking about pulling the trigger I missed the ride now back up down which is all time highs. I was thinking about buying a dipping I said we are tagging buy and hold it for a long term forget about

28:34
you know I was looking at perkinelmer similar business and it did hit the all time high and we had perkinelmer on I prefer perkinelmer more to thermo but if Mr Casper would come on maybe you can give me more surety I keep feeling about I was so blown away by how Abbott had to pre announce an Abbott the steady Eddy my travel just took a real hit on that. I want to find out is thermoset in good shape post COVID. JOHN in Massachusetts, john, john, how you doing sir? I'm doing well. Thank you. How about you?

29:05
No complaints there. My question for you falls into the category of biotechnology, specifically bio and tech right.

29:18
Needs great but you know what? Mo Jordan is amazing. And I keep thinking about how I met those guys. What that's a technology company modern. I'd rather see it being that one. Some good comments today on Scott block their show about Madonna. Alright, here's what to watch at tomorrow's Glaxo meeting, the dividend and the long term forecast. If the dividends cut the stock is going to break. Maybe that's a chance to I think it is chance to jump on. Now. There's much more money ahead including my excuse with CNH Industrial following a $2 billion acquisition of Raven. Then employers have reported 9.3 million unfilled jobs, the Muslim record. So we're voting workers gone on putting the US labor shortage into focus and all your calls wrap Empire tonight's edition of the lightning round so stay with Kramer.

30:13
Yesterday we found out about a major deal in the machinery space. CNH Industrial, the UK based manufacturer of industrial vehicles and powertrain solutions showing up more than $2 billion for a company called Raven industries, which makes Industrial Technology especially for the agriculture industry. What Wall Street's lost interest in cyclicals over the past couple of weeks, I think this could be very enticing story farmers about being flushed with cash thanks to Sky High crop prices. And even if those prices keep coming down from their highs, we're still going to see a lot of spending on farm equipment. So let's take a closer look with Scott wine, the new CEO of CNH Industrial now you might remember him as the old CEO Polaris for more about his business yesterday steel, Mr. Klein, welcome back to Mad Money.

30:54
Jim, great to be on with you. Thanks for having us.

30:57
I just got first, you know, we all know you from players. What what's it like it CNAs you having a good time? And what are you doing?

31:04
It's a fantastic company, Jim. tremendous opportunities, tremendous people. And it's kind of fun to serve the noble activities of farmers and construction workers around the world. And really just a great opportunity and actually fortunate in a pretty good market for for equipment, as you just said,

31:19
maybe some people say it's the best ever Scott, I'm not getting not taking a look back at the cycles, it may be the best ever. Now let me ask you something. They when I read this deal, which I thought was brilliant, the first thing I thought of Is there such a thing as precision agriculture, tell people what that is,

31:36
you know, precision agriculture gem is really given the farmers the tools, they need to be more productive, use less chemicals on farms grow more, I mean, tillable acreage is not increasing in the world. In fact, you know, we so we've got to feed more people on less tillable acreage. And that requires productivity. And productivity really comes through precision Ag and, you know, we're quite good at it now. And I think with the the acquisition of Raven industries, and what we can bring with their capabilities is really going to be great for farmers. And we're tremendously excited about it.

32:06
Scott, I read about this, because I've done some farming. And the most important thing about farming is that is that someone who has to do it costs money, the stuff I looked into the raven had, some of them don't require people.

32:19
Well, you know, that's part of it. productivity is so important in this, we all know that there's a shortage of labor. And as I talked to farmers, in some of our dealers, they talk about the need to provide autonomous equipment. And Raven is a leader in that, that field. And so we believe with our help, they're going to be able to bring some of those tools to market fast, and they could have independently and we're just really excited about what that means not only for our financial performance, but for the financial benefits of farmers as well.

32:45
Now we have ag Cohen is Rose Martin region argument just retired, but we had them on a number of times. And I was wondering, well, would they want to pay cnh for Raven technology? Or is this a situation where you might lose some customers?

32:59
Well, you know, Jim, I mean, this is a fairly tight industry. So we all kind of sell and buy from each other in certain circumstances. Eric and his team at agco do a great job and we buy some products from them. And I think we'll continue to invest in make sure that they have access to the right precision tools because their customers and farmers needed as well. So we certainly expect that there'll be a good customer for a long time to come.

33:23
Alright, so let me ask you something. When I think Scott wine I think of upright, I think of a guy who served in the military, I think of a guy who thinks truth is all that matters. And your company had to deal with decline. Now the clothes and change company, but they did some things that you would never do. They had a demonstration of a truck that they basically pushed down. That was not honest. And I'm sure you would agree with me. But is this company what you just announced that you just did a another release? Just June 17th? You seem to be a Korean electric electrifying partnership is this did they change enough Scott that you can like it because you could have backed away.

34:03
We could have Gemini, I will tell you that I came into this, this job very skeptical of that partnership. And I have been proven completely wrong about my skepticism, it has really been an opportunity to advance our technology to take the great brand that we have with the vecow and the tremendous history we have building trucks and offered to a technology partner that Nicolay is and you know, with their new CEO and with their board, they're a actually a very strong partner for us. And we're excited what we can do with the first battle electric products, but ultimately with hydrogen down the road and it really is a good partnership for us and for them and we're excited about what the future holds. And as you know, we're going to spin off our on highway business into a separate public entity and we think technology is going to be their technology leadership both with nickel and also our LNG portfolio. Really being a positive momentum as we head towards that spent

34:53
now you realize what you just said is going to make people who have been skeptical, skeptical. called Nicola changed their mind because your Scott wine I mean, his players was running in a way that everyone knew was like clockwork. So you're saying once again and repeat this, you're saying this is good technology is going to work and the people really want it.

35:14
Absolutely. I mean, it's they've had a rough go. And I mean, you can't you can't hide from the past they've had, but what we are seeing is a good partner that we've expect to partner with them to bring great trucks to market later this year and build on to the future. So that's, we're we're very, very excited about what we can do together.

35:31
All right, fair enough. And the breakup, you changed immediately what was going to happen? What didn't you like? And how did you decide to do this breakup? I think the breakup is going to create a lot of value.

35:41
You know, our board had a great vision and I think seeing the opportunity to put the Ag and construction business what we're calling the off highway business on a separate trajectory. You know, the heavy duty truck market is on a different cycle. It takes a different investment profile, but really has positive upside in its own way going forward. Garrett marks was just named as the future CEO of that business and you know, but we do feel like and I will stay with the off highway business that we've got a tremendous opportunity with Casey Ah, a new homeowner agriculture, our case equipment brands, really to do tremendous work for our agriculture and construction workers around the world and it's really an exciting time to be with the company and yeah, I'm it's been a busy six months for sure. And it's not slowing down anytime soon. But really excited about what the future holds.

36:31
Well, you're in the industry. That's the hottest it's ever been made a really great move. And you know, we loved it players, but it sounds like you're having a terrific time and CNH Industrial Scott wine CEO of CNH Industrial great to see you again. Scott mischief. Thanks, Jim. Guys, I don't know look up the stock does trade and trades very actively here. What can I say new people that applied their money spective break.

36:57
Coming up next. Let's make money together. What do we got Kramer's bringing the thunder and answering your burning questions in today's edition of the lightning round.

37:21
And then the lightning round is over. Are you ready scheme? Johnson in Iowa Johnson. Hey, Jim. I'm a 25 year old investor. I want to thank you for all the education and guidance you provide on your show. Thank you. Thank you for calling in to get young people calm where you got.

37:39
I got so the stock I'm calling about today is that a great run up in the last three months and is expected to spin off a portion of its operations into a separate public company later this year. Would you recommend a buy hold or sell on SPO logistics?

37:52
Jacob said by the way, Steve Weiss has some nice comments and really unbelievably great halftime show run by the judge and I think we with Steve Weiss. I think Gatsby is an excellent company will be even worth more if the spin off. Bye. Bye. Bye. Let's go to Christopher in Texas, Christopher. How we doing? I am doing well. How about you? Excellent. Excellent. He did some advice here. I got that I got you back. What do you need? mga magnet? Like I love that company so much. So that's going to be winner no matter which of these have any of the SPAC car companies they should all just hire Magda and just lightsource it just give it to them. Joe in Maryland, Joe. Hello, Jim, thank you for taking my call. You're quite welcome.

38:40
First time caller and a fairly recent investor. All right. My call concerns my mortgage company, which is loan depot.

38:50
It's okay. I mean, you know what the problem is, this is a very, very commodity oriented business. And if this is new to you, and you're distorting, I'd rather see the dividend stock or rather see in a more consistent player the load depot, which may need housing to stay as hot as it is. How about Robin in Connecticut Robin? Booyah. Jim boy. Yeah, I just wanted to shout out bar San Miguel, you guys dish out some of the most fire cocktails in Brooklyn. Well, thank you very much at all. Dom is good. I tried wine. Petra, me tastes are real going the other Dan rovinj ready for primetime? What? How can I help? Speaking of fire this company set the merge with metamaterial technology and the wonder to get your long term outlook on torqueflite energy ticker symbol TRCA that's a meme stop it had used by him and then they raise money. I am actually a believer in meme stocks that have raised money because then they're better look at AMC. Look at God GMA, like the game. See she raised one that is a meme stop. So it's hard to comment other than to say that they raised money. Good for them. Let's go to Dan and Luciana Dan.

39:56
Hey, Jim, Hey, thanks for taking my call. Of course in the gray Just a quick state of Louisiana Go Tigers. Jim, I've just or I head to Qualcomm.

40:08
I like Qualcomm, I like Qualcomm a lot. I think it's apply here and that legends conclusion of the

40:18
lightning round is sponsored by TD Ameritrade Comm. And Where have all the workers gone? Cramer weighs in on the state of labor.

40:39
I've been racking my brain. Where did all the workers go? I mean, this is the big question the moment nobody seems to know the answer, acquitting j pal feci, who was asked about this very question on Capitol Hill today, and the answer seemed to elude him too. We do know there are 10 million people who are unemployed and saying they're looking for work almost double the number from the months before the pandemic began. Yet all sorts of businesses are struggling to find employees. It's a bizarre mismatch. 10 million people need jobs, but apparently not the jobs that are currently on offer. So how does this happen? You know, I speak to a ton of CEOs. And I've got to tell you, they're all baffled. The only thing I hear is, well, Amazon hire half a million people. They took the supply. I mean, obviously, it's not the answer, the best answer, but it's the one I get multiple times when I press let me give you some my theories, though. First, people have gotten enough stimulus money that you don't necessarily need to work right now. At least not yet. It's much easier to turn down a job offer. When you're not living paycheck to paycheck, it's safer to sit, you don't get COVID at home, playing video games wherever you're doing, when millions of people are choosing to catch the new strain. Rather than get a couple of injections. I swear the flu shots more dangerous, I would stay at home to second the expanded unemployment benefits are incredibly generous. I know that there are some economists who argue this doesn't matter. But that's impossible for me to believe. As someone who runs a couple of small businesses we're offering people $18 now, but in the state of New York, as someone collecting full jobless benefits makes $20 an hour. Once the federal unemployment insurance payments run out in September that's going to go down to $12 and change. But for the moment, it pays better stay at home. A young Jim Cramer with hair will be staying home concoct concocting something really big. The old Jim Cramer's no idea what that would be. Of course, New York's on the general side, when it comes to jobless benefits. Most states pay less off the bat, and half of them are turning down the extra $300 to the federal government that summer. So we're Sue that have a bunch of test cases, still, you can't convince me This doesn't matter. We have ads everywhere from my companies to recruit people. But most many of them either ghost us on the interviews, or they simply turn us down. It's pretty stark. We got a couple of jobs where you can make 7080 grand a year if you work really, really hard one night, I know but but we can't find people to take them. Third, people have moved. When everything shut down. During the pandemic, they did some soul searching and move from the cities to the suburbs or the country. I cannot believe the emptying out of the cities and it's happening all over this nation. It's an existential crisis about the personal cost of living and working in the city. restaurants that were closed and then reopened simply can't find the people used to work for them. They laughed. For speaking restaurants and retailers. Those jobs have changed a lot since February of 2020. There are a lot more dangerous than they used to be much higher stress. Nobody gets into retail to be a prison guard or therapist. Fifth, let's not forget the COVID killed 600,000 people in this country. We've also had many people suffering from long term complications. Others who don't want to leave the house because they're not vaccinated yet. Six according American Express, there are more and more businesses starting small businesses looking for employees. And while they've heard that 150,000 restaurants may have closed and paid them, but I no question that number because the restaurant companies I talked to simply don't see it that way. Maybe you're in lockdown, but not as the country open. Meanwhile, we've had 568 IPOs so far in 2021 of more than 40 and 50% increase versus the same period last year specs industrials, retail you name it was so easy to come by the companies can find each other for more expensive employees. That translates into higher wages for some, but also creates a vacuum of employees for companies that can't pay up. Finally, the pent up demand for travel leisure is amazing. Yet the travel leisure companies did everything they could cut back because they didn't expect people to get vaccinated so quickly. Now they need to hire more workers in a hurry and they can't find their old ones who got laid off in the past moved on to greener pastures in other parts of the country. I guess if you really want the culprit for this, I've got two of them. mow dirt and Pfizer. They're the ones that created the labor shortage, which just goes to show this is a pretty high quality problem. Of course once the job was benefits expired the end of the summer, everybody's got to go back to work. Now I'm if I'm wrong about this. It's not the jobless benefits. If we keep having a labor shortage in the fall, then fed chief j pal might be forced to slam the brakes on the economy by raising it Interest rates a little wage inflation is a good thing. But there's only so much we can handle before D stabilizes the whole economy. So let's hope it doesn't come to that in 2022. I like to say there's always the one market summer and I promise try to find it just for you right here on Mad Money. I'm Jim Cramer seen him on the news. Shepard Smith starts now.