Here’s the transcript for Monday’s “Homestretch”:
>>> HELLO, IT’S JIM CRAMER WITH THE
HOME STRETCH.
TODAY IS NOT A GOOD DAY.
IT’S NOT A GOOD DAY I THINK,
BECAUSE OF PROFIT TAKING.
I THINK THERE IS AN ACCEPTANCE
HAVE GONE TOO MUCH TOO FAST.
I DO NOT BELIEVE THAT ACCORDINGLY,
BUT THAT’S THE COMMON THING, AND
IT’S A MOMENT WHERE PEOPLE WANT
LESS RISK AND THAT’S FOR SURE
REASONABLY SINCE WHAT’S AHEAD.
>> MARKETS HAVE HAD A NICE RUN-UP
START THE YEAR.
WE SEE AN UPWARD MOVEMENT INSIDE
SOME RAW MATERIALS ALSO, AND
COPPER IS AN EXAMPLE.
MAYBE PEOPLE TRY IT
POSITION AHEAD OF THE FED
MEETING ON WEDNESDAY WHERE THEY
THINK POWELL WILL BE A LITTLE
MORE HAWKISH THAN EXPECTED AND
THEY TRY TO PROTECT
AGAINST THE DOWN.
THAT LEADS TO MUCH OF THE
DEFENSIVE SECTORS WORKING TODAY,
ESPECIALLY THOSE WHO DON’T HAVE
WORKED ALL YEAR, STAPLES,
UTILITIES, AND FINANCES ARE
ALSO IN WEALTH, AND
ENERGY IS TO THE TIME AND
TECH, EN —
>> NO SURPRISE WITH ENERGY.
YOU MUST LIST, HALIBURTON
DOES IT WELL.
>> YES, IT IS THE ONLY ENERGY
STOCK IN THE S&P 500 THAT IS IN
THE GREEN TODAY.
THE REST OF THE GROUP HAS DONE
BECAUSE THE ENERGY IS LOW, THE
PRICE OF OIL IS DOWN.
>> Let’s look at that for A
SECOND.
PEOPLE CLEARLY SAY THAT
TRYING TO REOPEN, YOU HAVE TO
MAKE A DIFFERENCE.
IT’S 50 DEGREES IN NEW YORK, AND
IT’S GETTING 50 DEGREES AGAIN
TOMORROW.
PEOPLE WANT IT, WAIT A
SECOND, MAYBE IT’S SEASON
OVER, AND THERE IS NO SNOW.
WE ARE IN FINANCIAL
BUSINESS, SO JUST UNDERSTAND IT
THAT IT’S THE HEAT.
DON’T FORGET YOURSELF.
IT’S JUST THE HEAT AND THAT IS
WHAT IT HAPPENED.
HERE ARE SOME THINGS THAT ARE
REALLY, REALLY INTERESTING.
I WANT TO LIST NVIDIA FOR A
SECOND.
WE DONE THE CHAT.
>> CHATGPT, YES.
>> AND NVIDIA MAKES A LITTLE
EVERY TIME.
WHAT IS IMPORTANT, WE ARE
STILL HAVE TO PERISH WITH THE HIGH
PERFORMANCE COMPUTER PROBLEM,
AND YOU WILL REALLY SEE
TAKING ADVANTAGE.
I HAVE HIGHER EXPECTATIONS FOR NVIDIA
THEN AMD, PARTLY BECAUSE IF I
PREVIOUSLY MENTIONED, IF YOU ASK ME
WHAT I AM MOST CONCERNED ABOUT
IS AMD AND NVIDIA WHEN IT COMES
TO A LARGE PART OF OUR
HOLDINGS, AND QUALCOMM KICK WE
EVERY DAY.
>> RIGHT.
THERE WAS THAT LETTER WHERE TODAY
THEY SAY IN KNOWLEDGE INTEL,
BECAUSE THEY HAVE SO SURPLUS
INVENTORY, ALL THESE OEMS, DE
PC MAKERS ARE ON STACKS
FROM INTEL PPC, AND YOU CAN
CAUSE THE PPC CORRECTION TO
STAY, AND WE MUST SEE
MORE SURE.
>> THE MOST IMPORTANT WHEN IT COME
FOR ALL THESE ARE PEOPLE
BACKCut.
I CANNOT CONFIRM IF SAMSUNG IS
LESS, AND IT’S THE PRICE
DISTURBER ON EVERYTHING.
THERE WOULD BE A BELIEVE THAT
SAMSUNG IS NOT GOING TO HOLD
FLOODING THINGS.
PCs are down 20%, and that’s A
BIG PROBLEM.
WE SEE NOTHING
FROM HP TO FEBRUARY.
PLEASE NOTE I AM WORRIED ABOUT
AMD AND NVIDIA.
LET’S GO ABOUT THE TOP FIVE,
AND IT IS REALLY GOOD TO SEE UMAN
START DOING BETTER?
>> YES, OTHER NAMES WORK
TODAY ALSO HAVE SPECIFIC
CORPORATE — SOLE ACTIVIST OR
WHAT DO YOU HAVE AROUND IT.
LIKE SALESFORCE, THEY HAD THE
BOARD REFRESH, AND WE KNOW THERE
ARE SEVERAL ACTIVISTS INVOLVED
IN STOCK.
AT THE SAME TIME, AMAZON, SHE
ALMOST BECOME ACTIVIST
SO TO SPEAK WITH NATIONAL
INSTRUMENTS, AND THE STOCK
DIPPED ABOUT 10% OVER THE
THE GOAL OF A FEW DAYS WHEN THEY
TALK ABOUT THE ACQUISITION,
AND NOW THEY ARE WORKING ON A
FRIENDLY TALK.
>> YOU KNOW I THOUGHT THEY THOUGHT
SELF IN THE FOOT AS THEY
WENT HOSTY.
>> LOOK, I REPRESENT A CLUB OF
PEOPLE WHO OWN THESE SHARES, AND
THEY SAY WHO ARE YOU TO SAY
WHATEVER YOU WANT?
I SAY, I AM A SHAREHOLDER, AND
THE PEOPLE WHO MATTER
WILL LEAVE WHILE YOU CLOSING
THE AGREEMENT.
THEY ASK HOW I KNOW, AND
I SAY, I HAVE BEEN IN THE ROUND OF A
LONG TIME.
I TRY NOT TO BE STUPID.
>> YES, THIS IS A DISTRACTION
YOU DON’T WANT.
IT WENT FROM 97 ON THE NEWS TO
AROUND 88, AND THE STOCK IS
TODAY AROUND 90, ON A PRETTY
DOWN DAY.
>> I WANT THAT.
WELLS FARGO, I TELL YOU,
WE WILL BE RIGHT.
IT WAS FIVE YEARS AGO, FIVE
YEARS AGO NEXT WEEK IT GOT
HAMMERED.
THERE IS ALWAYS THE POSSIBILITY
THAT ALL CONSENT ISSUES
ARE COVERED AND DONE AND THEY
CAN START BUYING BACK STOCKS
AGGRESSIVE.
>> YOU HAVE TO WONDER IF CHARLIE
IS IN NOW.
>> LET’S GO AWAY.
AS REGARDS J&J, J&J LOSES AT THE
THIRD CIRCUIT, OKAY.
IT IS THE COURT OF APPEALS.
YOU CAN PUT ON YOUR LEGAL HAT
HERE.
THEY ARE FIGHTING NOW —
THEY DO EVERYONE
CASE, OKAY, TRY TO LET OUT
THE Plaintiff, AND AT THE SAME TIME
TIME THEY HAVE A SECOND ISSUE
THAT’S THE HIGHEST HOPE
COURT HAS DECIDED THIS CASE,
BECAUSE THAT’S WHAT WOULD HAVE
HAPPENING, AND FINALLY MAKES LAW
THAT SAYS WE’RE GOING TO END
THE CHARACTER OF BANKRUPTCY
COMPANIES AND HAVE A BANKRUPTCY
WAY TO HANDLE THINGS AND US
GOING TO USE THE J&J WAY.
J&J, I THINK, BELIEVE THE
SUPREME COURT IS CONSERVATIVE
ENOUGH TO ACTUALLY KANT LACE
THEM.
J&J DID NOT RETURN MY CALL.
THAT WAS MY PREVIOUS
UNDERSTAND WHAT I
WILD DO.
I TOLD JEFF LOOK, I THINK WE
HAVE TO BUY BUT THEN I PULL
BACK BECAUSE I COULDN’T BUY
WITHOUT SEARCHING OR THE
COMPANY WANTS TO CHANGE — THE
STATEMENT THEY SAY IS BAD
UNCLEAR.
>> THEY SAY THAT THEY SAY FULLY
FOR THE FINANCING OF THE
SUBSIDIARY THEY FINANCED.
THEY TRY TO SPEED IT UP
PROCESS AND MAKE MORE OF IT
EFFICIENT, BECAUSE EVERY
COURT CASE IS LONG
PROCESS, AND WE WANT THEIR EYES
ON THE BALL AND NOT GETTING INVOLVED
IN THE LEGAL PROCEEDINGS.
>> YOU WANT TO KNOW HOW STUPID
THIS IS?
THEY SHALL HAVE A MASTER, A
MASTER DOCKET THAT HANDLES A LOT
OF FALLEN, AND IT DOESN’T WORK
LIKE THAT.
THE SYSTEM IS BAD — IT IS A
FEDERATION OF STATES.
WE HAVE TO GET IT SO THE SUPREME
COURT HEARS THAT.
>> WHEN J&J CAME UNDER THE COST
BASIC, WE WOULD MAKE THAT
OUR MOVING AND WE SAY THAT OF
175 TO 170, 168, NOT
ENOUGH, NOT ENOUGH.
162, I STILL THINK THAT QUARTER
THEY REPORTED LAST WEEK, THEIR
INCOME FOR ’23 WAS ABOVE
CONFORMITY.
THEY HAVE NO CREDIT FOR IT
WHICH.
>> THE COMPANY, YOU MUST NOT ALONE
BUY THAT WITHOUT CHECKING.
I hope JAKE CALLS ME BACK
>> YES, THEY ARE FULLY BOOKED
BEFORE THE VACATION.
I SEE NOTHING HERE ANYMORE
THEN TAKE PROFITS.
>> AFTER THE CLOSURE IT IS
CHAPTER CAR, AND THERE IS A
GOOD TEMPERATURE ON HOUSING.
BEFORE THE BELL IS TOMORROW
CATERPILLAR.
>> YES, LOOK FOR WEAKNESS
TO BUY.
IF YOU LOOK OUT FOR A YEAR
NOW OR TWO YEARS FROM NOW,
CONSIDERING ALL EXPENSES
MADE ON THE INFRASTRUCTURE SIDE,
IT’S A MULTI-TAIL YEAR FOR THEM.
>> UPS I THINK IT’S OK
INCLUDE LABOR ISSUES.
>> THAT’S AN INTERESTING ONE.
YES.
>> IT WILL HUR, AND GM — FORD
TELLS ME TO STOP WORRYING
ABOUT THE PRICE REDUCTION, WE WILL
STILL MAKE MONEY ON THE MACH E.
UNDERSTAND I’M GOING TO FLORIDA
FOR A COLLEGE TOUR, THE
UNIVERSITY OF MIAMI, DEPARTURE
HERE ON WEDNESDAY NIGHT.
THURSDAY I WILL BE IN MIAMI
DOING A SHOW ON THURSDAY, AND
JEFF WILL THE
FORT ON ONE OF THEM.
>> THE GOOD THAT WILL BE
NO LACK OF NEWS, BECAUSE
THERE WILL BE MANY BUSINESSES
REPORTING SO WILL BE THERE
LOTS TO TALK ABOUT.
>> AGAIN, I JUST WANT TO SAY IF
YOU DON’T HEAR ME ON “THE HOME
STRETCH,” IT’S BECAUSE I’M IN
FLIGHT OR TEACH EVEN.
>> MANY FUN THINGS.
>> THANK YOU VERY MUCH.
BYE.