This is the transcript of Monday’s “Homestretch”:
>>> HELLO, I’M JIM CRAMER WITH HIM
HOME STRETCH.
TODAY IS NOT A GOOD DAY.
IT’S NOT A GOOD DAY, I THINK,
FOR TAKING PROFITS.
I BELIEVE THERE IS AN ACCEPTANCE OF US
THEY HAVE RISEN TOO VERY FAST.
I DON’T BELIEVE IT BY THE WAY,
BUT THAT’S COMMON, AND
IT IS A MOMENT WHERE PEOPLE WANT
LESS RISK AND IT IS CERTAINLY
REASONABLE GIVEN WHAT IS AHEAD.
>> THE MARKETS HAVE HAD A GOOD RUN
THE YEAR BEGINS.
WE ARE OBSERVING AN UPWARD MOVEMENT IN
SOME PRODUCTS TOO, AND
COPPER IS AN EXAMPLE.
MAYBE PEOPLE ARE TRYING TO
POSITION AHEAD OF THE FED
MEETING ON WEDNESDAY WHERE
THINKS POWELL WILL BE A LITTLE
MORE FALCON THAN EXPECTED AND
THEY ARE TRYING TO PROTECT
AGAINST THE LOW.
THAT IS LEADING TO MANY OF THE
DEFENSIVE SECTORS WORKING TODAY,
ESPECIALLY THOSE WHO DON’T HAVE
WORKED ALL YEAR, STAPLES,
UTILITIES AND THEY ARE FINANCIAL
KEEP THE WEALTH TOO AND
THE ENERGY IS DOWN AND
TECHNOLOGY, AND —
>> NO SURPRISES WITH ENERGY.
MUST MENTION HALIBURTON
HE’S DOING FINE.
>> YES, IT IS THE ONLY ENERGY
STOCKS IN THE S&P 500 WHICH IS IN
THE GREEN TODAY.
THE REST OF THE GROUP IS BELOW
BECAUSE THE POWER IS DOWN, THE
THE PRICE OF OIL HAS DOWN.
>> LET’S LOOK AT THAT FOR A
SECOND.
OBVIOUSLY PEOPLE ARE SAYING THAT
TRYING TO REOPEN, THAT SHOULD
MAKE DIFFERENCE.
IT’S 50 DEGREES IN NEW YORK, AND
IT WILL BE 50 DEGREES AGAIN
MORNING.
PEOPLE FEEL LIKE, EXPECT A
SECOND, MAYBE THE SEASON IS
IT ENDS, AND THERE IS NO SNOW.
WE ARE IN THE FINANCIAL
BUSINESS SO UNDERSTAND
THAT’S THE HEAT.
DON’T BE DECEIVED.
IT’S JUST THE HEAT AND THAT’S IT
WHAT’S GOING ON.
HERE ARE SOME THINGS THAT ARE
VERY VERY INTERESTING.
I WANT TO MENTION NVIDIA FOR A
SECOND.
WE HAVE BEEN DOING THE CHAT.
>> GPT CHAT, YES.
>> AND NVIDIA DOES A LITTLE
EVERY TIME.
WHAT MATTERS, HOWEVER, IS US
YOU STILL HAVE TO DEAL WITH THE HIGH
PERFORMANCE COMPUTING ISSUE,
AND YOU WILL SEE IT REAL
BENEFIT.
I HAVE HIGHER HOPES FOR NVIDIA
THAT AMD, PARTLY BECAUSE LIKE ME
MENTIONED ABOVE, IF YOU ASK ME
WHAT WORRIES ME MOST
IT IS AMD AND NVIDIA WHEN IT COMES
TO A SIGNIFICANT SECTION OF OUR
HOLDINGS AND QUALCOMM KICKED OURSELVES
AROUND EVERY DAY.
>> RIGHT.
WAS THAT NOTE TODAY WHERE
THEY SAID BASICALLY INTEL,
WHY DID THEY HAVE SO MUCH EXCESS?
INVENTORY, ALL THESE OEMS, THE
PC MANUFACTURERS ARE SITTING ON PILES
OF INTEL PPC, AND THAT COULD
PROVOKE PPC CORRECTION A
STAY, AND WE WILL HAVE TO SEE
SAFER.
>> THE KEY WHEN IT ARRIVES
TO ALL THESE ARE PEOPLE
CUTTING.
I CANNOT CONFIRM IF SAMSUNG IS
CUT, AND IT’S THE PRICE
DISRUPTOR IN EVERYTHING.
THERE WOULD BE A BELIEF THAT
SAMSUNG WILL NOT KEEP
THINGS THAT FLOOD.
PCs ARE DOWN 20%, AND THAT’S A
BIG PROBLEM.
WE WILL NOT SEE ANYTHING
FROM HP TO FEBRUARY.
PLEASE NOTE THAT I AM CONCERNED ABOUT
AMD AND NVIDIA.
LET’S REVIEW THE TOP FIVE,
AND IT’S VERY GOOD TO SEE MAN
STARTING TO DO BETTER?
>> YES, OTHER NAMES WORK
TODAY THEY ALSO HAVE SPECIFIC
CORPORATE — SOME ACTIVIST OR
THAT YOU HAVE AROUND YOU.
AS SALESFORCE, THEY HAD THE
UPDATE BOARD, AND WE KNOW THERE
THERE ARE SEVERAL ACTIVISTS INVOLVED
ON THE ACTION.
AT THE SAME TIME, AMAZON, THEM
ALMOST BECAME AN ACTIVIST
TO SAY WITH NATIONAL
INSTRUMENTS AND THE STOCK
IT SINKED ABOUT 10% ABOVE THE
COURSE OF A FEW DAYS WHEN THEY
THEY WERE TALKING ABOUT THE TAKEOVER,
AND NOW THEY ARE IN A
FRIENDLIER CONVERSATION.
>> YOU KNOW WHAT I THINK THEY THOUGHT
THEMSELVES ON THE FOOT WHEN THEY
IT WAS HOSTILE.
>> LOOK, I REPRESENT A CLUB OF
PEOPLE OWNING THIS SHARE, AND
THEY SAID WHO ARE YOU TO SAY
What do you want?
I SAID, I AM A SHAREHOLDER, AND
PEOPLE WHO ARE IMPORTANT
WILL EXIT WHILE YOU ARE CLOSED
THE DEAL.
THEY ASKED HOW I KNOW, AND
I SAID, I’VE BEEN AROUND A
LONG TIME.
I AM NOT TRYING TO BE A JACKASS.
>> YES, THIS IS A DISTRACTION
YOU DO NOT WANT.
WENT FROM 97 IN THE NEWS TO
AROUND 88, AND THE STOCK IS
AROUND 90 TODAY, IN A PRETTY
DAY BELOW.
>> I LIKE THAT.
WELLS FARGO, I TELL YOU,
WE WILL BE RIGHT.
IT WAS FIVE YEARS AGO, FIVE
YEARS AGO THE NEXT WEEK HE ARRIVED
HAMMERED.
THERE IS ALWAYS THE POSSIBILITY
THAT ALL ISSUES OF CONSENT
THEY ARE COVERED AND DONE AND THEY
YOU CAN START BUYING SHARES
AGGRESSIVELY.
>> YOU HAVE TO WONDER IF CHARLIE
IT IS THERE NOW.
>> WE’RE GOING TO THE DOWN SIDE.
AS FOR J&J, J&J LOSES IN THE
THIRD CIRCUIT, OK.
IT IS THE COURT OF APPEALS.
YOU CAN PUT ON YOUR LEGAL HAT
HERE.
THEY ARE FIGHTING RIGHT NOW —
ARE DOING EACH
CASE, OK, TRYING TO ESCAPE
THE CLAIMANTS, AND TO THE SAME
TIME THEY HAVE A SECOND TRACK
WHAT IS WAITING FOR THE SUPREME?
THE COURT PICKS UP THIS CASE,
BECAUSE THAT’S WHAT I WOULD HAVE
TO HAPPEN, AND FINALLY MAKES LAW
WHAT SAYS WE ARE GOING TO END
THE FACE OF BANKRUPTCY
COMPANIES AND HAVE A BANKRUPTCY
WAY OF DEALING WITH THINGS AND US
THEY ARE GOING TO USE THE J&J STYLE.
J&J, I BELIEVE, BELIEVE IN HIM
THE SUPREME COURT IS CONSERVATIVE
ENOUGH TO REALLY SIDE WITH
THEM.
J&J HAS NOT CALLED ME BACK.
THAT HAD BEEN MY PREVIOUS
UNDERSTANDING WHAT I
I WANTED TO DO.
I TOLD JEFF, LOOK, I THINK WE
I SHOULD BUY, BUT THEN I DROPPED
I COME BACK BECAUSE I COULDN’T BUY
WITHOUT KNOWING IF HE
THE COMPANY WANTS TO CHANGE — THE
THE STATEMENT THEY PUBLISHED IS VERY
VAGUE.
>> THEY SAID TO COMMIT FULLY
TO SUPPORT THE FINANCING OF THE
SUBSIDIARY THAT THEY FINANCED.
THEY ARE TRYING TO ACCELERATE THE
PROCESS AND DO IT MORE
EFFICIENT, BECAUSE TAKING EACH
THE CASE TO COURT IS LONG
PROCESS, AND WE WANT YOUR EYES
ON THE BALL AND NOT GET INVOLVED
IN LEGAL PROCEEDINGS.
>> YOU WANT TO KNOW THAT STUPID
IT IS THIS?
THEY WILL HAVE A TEACHER, A
MASTER DOCKET THAT HANDLES A LOT
OF CASES, AND IT DOES NOT WORK
HOW THAT.
THE SYSTEM IS VERY — IT IS A
FEDERATION OF STATES.
WE HAVE TO GET IT SO THE SUPREME
THE COURT HEARS THAT.
>> WHEN J&J FELL BELOW COST
BASE, THAT’S WHEN WE WOULD DO
OUR MOVEMENT AND WE SAID THAT SINCE
175 TO 170, 168, NOT
ENOUGH, NOT ENOUGH.
162, I STILL THINK THAT QUARTER
REPORTED LAST WEEK, THEIR
EARNINGS IN ’23 WERE HIGHER
CONSENSUS.
DID NOT RECEIVE CREDIT FOR
THAT.
>> THE COMPANY CANNOT SIMPLY
BUY THAT WITHOUT CHECKING.
I HOPE JAKE CALLS ME BACK
>> YES, THEY WERE COMPLETE
FOR VACATIONS.
I DON’T SEE ANYTHING ELSE HERE
THAT TAKES PROFITS.
>> AFTER CLOSURE, IT IS
MAINLY AUTO, AND THERE IS A
GOOD TEMPERATURE IN HOUSING.
BEFORE THE BELL RINGS TOMORROW
CATERPILLAR.
>> YES, LOOK FOR THE WEAKNESS
TO BUY.
WHEN YOU LOOK OUT OF A YEAR
NOW OR IN TWO YEARS,
CONSIDERING ALL EXPENSES
MADE ON THE INFRASTRUCTURE SIDE,
IT IS A MULTIPLE YEAR FOR THEM.
>> UPS, I THINK, IT’S GOING TO
MENTION LABOR ISSUES.
>> THAT’S INTERESTING.
YEAH.
>> IT WILL HURT, AND GM — FORD
TELLS ME TO STOP WORRYING
ABOUT THE PRICE CUTS,
STILL EARN MONEY ON THE MACH E.
I UNDERSTAND THAT I AM GOING TO FLORIDA
FOR A UNIVERSITY TOUR, THE
UNIVERSITY OF MIAMI, LEAVING
HERE WEDNESDAY NIGHT.
I WILL BE IN MIAMI ON THURSDAY
DOING A SHOW ON THURSDAY, AND
JEFF WILL HOLD THE
STRONG IN SOME OF THIS.
>> THE GOOD THING IS THAT THERE WILL BE
NOVELTIES THAT ARE NOT MISSING, BECAUSE
THERE WILL BE TONS OF COMPANIES
INFORMING, SO THERE WILL BE
A LOT TO TALK ABOUT.
>> AGAIN, I JUST WANT TO SAY YES
THEY DON’T HEAR ME IN “THE HOME”.
STRETCH”, IT IS BECAUSE I AM IN
FLYING OR TEACHING EVEN CLASS.
>> LOTS OF FUN STUFF.
>> THANK YOU SO MUCH.
BYE.
