Mad Money w/ Jim Cramer 3/31/26

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I'm just here trying to make you a little bit of money. My job is not just to educate but to entertain a little. So call me at 1-800-743-CNBC or tweet me at some Kramer. Today, today we saw what would happen when you give peace of chance. Or at least when a toothless Iranian bureaucrat says he wants to negotiate a possible end to the war. Looks a lot like exactly what was happening before the war, didn't it? This market yearns for status quo ante. So oil is going lower, and shrapnel is going lower, and the averages explode higher. GALS charging 1,125 points. That's to be povelling 2.91%. NASDAQ's soaring 3.83%. House of pleasure. It's a gross stock bonanza. After five weeks of... The House of Bane. Because of the war, it's a surprise like this. Well, I gotta tell you, it should have been expected. I don't know if it's real, nobody does. The president of Iran is the best of figurehead. He's not the supreme leader. Surely he doesn't control the military. He can be rolled out to say he wants a deal, we offer him one. And then the parliament of rulers, they just say, hey listen, we reject that. The rulers can do that. We also don't know what President Trump told them that made an Iranian official willing to come out in favor of negotiations. Hey, maybe it's all for show. Before we get into what can happen, I do want to spend a second talking about what did happen to many of your portfolios. Many of you have told me in this intervening month that you hate this market, that it's a treacherous market, and it's causing some real doubts about whether stocks can be counted on anymore as an asset class, especially for your retirement if you're closing in on it. If you're one of those people, and I hope you aren't, but if you are, now is your chance. Come on, do some selling. I didn't want you to sell into the big brass, but you can do it now. Maybe you're not cut out for making big money in the market. You ever think about that? All right, that's fine. It's not for everybody. If you can't take the pain of this environment, I say take advantage of today's rally and, you know what? Sell, sell, sell. I make this point because one of my basic principles is do not sell stocks into a meltdown. I've been saying that you'll get a moment where things reverse. There's always a better moment. So if the market has really been hammered and gets oversold, you're going to get this kind of bounce, which will give you much better prices. Today's a perfect example. If you're patient and didn't throw stocks into that miasma that has engulfed us, you'll usually get better prices for your harder money. Don't give in to the maelstrom of negativity. At least wait for it to end before you dump your stocks. Personally, I would say stay the course. You know that, but not everyone has the level of pain tolerance that I have. Anyway, you have now gotten a better moment to sell, so take it. Now, for those of you who are sticking around like me and my chapel trust, let's think about what happens when the market tips its handling today. You saw it. You saw it. It's like playing genius. You put those three queens away. First and most important, we now see that when the war ends, rates go down. They go down noticeably. They go down because we now realize that there's a huge amount of inflation stemming from the war, not just from oil going higher. We saw that at the pump, but from ancillary products that came out of the Gulf. Fertilizer, polyethylene, aluminum. We didn't know going to the war that our farmers were going to need to raise prices to us because the price of fertilizer go much higher. You allow the fertilizer to come back down, you can stop the pernicious food inflation. Polyethylene, who knew? It's one of the basic building blocks of plastic who ripple through the system very quickly, and it's going to happen. Aluminum is the preferred way to can, and it's also become a key component in cars. These inputs might come down and maybe come down hard because the goods themselves can be produced elsewhere, but we did not realize how much inflation this war could bring. Of course, gasoline inflation is no joke. Even though America's energy is self-sufficient, guess what? It turns out we don't have export controls, which means the price of oil here is tied to the price worldwide. No matter what people say that we're independent, natural gas did stay the same though because it's a regional market rather than a global market. The amount we can export is limited by our infrastructure. We have too much gas here, so what happens in the rest of the world really doesn't impact us. Remember that. How about lower long-term interest rates connected to housing? As long as they stay down, it's a simple leap to have this new Fed chief, Kevin Marsh, come in. And these have an easier time trying to get things rolling for some rate cuts. I really don't care what these random Fed heads are periodically interviewed. I have to say, I don't. I think that Kevin Marsh is going to be a tough Fed chief where he gets inputs from all the voting members, then he tells them what he wants. That's not actually how it works in practice, but we're going to see if he can pull it off. I think he can. All those naysayers who say rates are going to go up, you know what? You're wrong. I really do. I just want to say it. You can replay the tape all you want. Just go ahead. I already see him. Hey, replay it now. Ahead. Why not? Hey, Kramer, you got it wrong. He says rates aren't going higher. Well, you know, give me 30, give me 46 hours. 48. Second, when rates go down, people gravitate to what? They gravitate to growth stocks. They do it because money managers believe that price journeys, multiples, how much we'll pay for companies, earnings have been horribly compressed by the war. If the war is over, we'll start paying more for the stocks of companies that were never going to skip a beat to begin with. Hey, by the way, including some we're going to watch tonight. Of course, if we end the war without reopening the straight, there might be not all that much benefit for some of the stock market. But still, today the action in the growth stocks say, well, this is what things we're going to look like. I want to start with two companies. We talked to one squawk in the street this morning, NVIDIA and Marvell Tech. Today NVIDIA decided to give Marvell $2 billion, here you go, $2 billion, as the two agreed to work together on an AI infrastructure plan. Remember, there's much more to NVIDIA than just chips. There's a whole software ecosystem and companies that use Marvell for a portion of their network can use NVIDIA too. It's a smart move for NVIDIA to get companies that don't use NVIDIA to migrate to their platform. Of course, Marvell benefits too. NVIDIA rallied 5.6, French Marvell shot up 13%. Talk about multiple compression. At the bottom today, I think NVIDIA stock was trading at 14 times earnings. That's the PE of a boring old bank stock with bad credits. How can NVIDIA be confused with a boring old bank stock with bad credit? It makes no sense at all. Of course, these weren't the only two winners. Meta platforms has been pancake tiered to the point where it sells for 19 times earnings. I understand if the company has to spend a lot of money buying chips from NVIDIA. That's put a lid on the stock. But Meta really got crushed by a one-two punch in a New Mexico and Los Angeles courtroom over the way the company failed to protect the younger users, among many other charges. They lost both cases and the stock shed billions and billions and billions of dollars over a two-day period. Cooler heads are now looking at these cases and recognizing that there's plenty of appeals ahead before Meta has to pay anything at all. And if they win an appeal, they're not going to pay a dime. I think that the awards will be trimmed. I also think that the First Amendment is going to be a very good protector of what Meta has to do. What else? We saw the stocks of the banks themselves, which have been heredited to start to rally. There are always worries about bad loans. They were struggled off today. Very impressive. I like the action, let's call it the pin action, in the private... Sorry. In the private equity firm Blackstone. Remember, this is the moment where the employees actually bought the private credit exposure from the frightened and scared investors who wanted it out no matter what. The private equity cohort will also benefit from the possibility of more deals that maybe they'll use it. Please, private equity people, will you sell some stuff? Take a loss. Just get it out of our faces. All right. Finally, that's a little extreme. Finally, perhaps some confidence can return. Many people have pulled out of the market fearful of private credit, worried about the Fed, scared about inflation. I spent most of my lifetime trying to explain why it's worth sticking around. I'm doing it again. Here's the bottom line. Maybe this dialogue with Iran is really nothing more than an exchange of messages. Maybe it's meaningless. So consider today a dry run of what will ultimately occur when the war winds down and they do. And when the doubters and towel throwers come in tomorrow, please notice what the bold we're buying. I just hope they come down again so you can get your chance at preferable prices. It'll be worth it. I want to go to Phil in Kansas. Phil. Who are you, Jim? Who are you, Phil? What's up? Hey, I'm a club member. I read your book and I love your show. Oh, thank you, partner. I got a question with the AI data center built out in full swing. What's your current thought on vertif? Oh, I like vertif very much. And I know people are going to say, Jim, it's too high. It's too high. It's been too high ever since it got too high. There, there's some genuine homespun wisdom, huh? All right, look, today was a preview of what will happen when the war and Iran winds down. Look at the closing prices, really. Pay attention to what went off. Now, we've got an action packed lineup. I love saying that. Homemade money tonight. We got Palo Alto Networks, the CEO of the Cyber City. You just put $10 million worth of shares last week. Maybe you want to listen. Or maybe he's making it up. No. I'm sitting down with the CEO. Find out. Then Salesforce rolled out a bunch of new AI power features for Slack today. I was on Slack today. I'm checking in with CEO Mark Bennett to get the latest. In BKB, I know you never heard it, but it's a major natural gas bruiser. And I'm going to explain later on when we see why you need to pay attention. I think they are set to go higher. I want you to stay in the market and I want you to stay with Kramer. What made you confident that you could do something that hadn't been done before? I have no fear of failure. Trailblazing women changing the game. One of my favorite pieces of advice. Think about what your boss's boss needs. Leadership can look in many, many different forms. It really does come down to just trusting yourself. Life is short. You've got to think big to accomplish big things. Julia Borstyn hosts CNBC Changemakers and Power Players. New episodes every Tuesday wherever you get your podcasts. I'm not going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. I'm going to talk about the security. not just cyber software, any piece of software deployed anywhere. I think that is going to create a faster pace for attackers to be able to use these vulnerabilities and come after critical infrastructure. I think we need to make sure that the defenders, which is cyber security companies, are using the same techniques to be able to protect our customers. Because remember, they just have to be right once. We have to be right 100% of the time. Well, it would seem when you first came up with platformization, good idea. But now, if you're not platformization, there's so many cracks that I have to believe these goal-seeking agents will get through and find the cracks. That's their job. Well, look, the agents are really good at pattern recognition. We've been writing software for the last 50 years, but humans are not perfect at writing software. That's why you look at things like Cloud Code, Codex, all these new AI coding tools are helping us write better software. But they're also able to find bad, written software. So what's happening now is what would take us weeks with human beings to analyze software to find problems, and we have a process of finding the problem, patching it, and deploying it. These new models are going to make that happen at rapid pace. When that happens, we need to increase our pace from the defender side to be able to do that as quickly as we can. Now, there is a misperception when we alluded to Anthropoc to destroy it. But Anthropoc, on their own, they seem to make a couple of mistakes. I'm not sure how much I want to back with them. They're like any technology company. You know, we never design security when we build great technology products because we're so excited about the optimistic use case. Well, that's good. But you know, what happens is that they put out something which says, hey, listen, basically we're going to be our own cybersecurity agent. I don't know if I want the company making the stuff to also be their cybersecurity guy. That seems to be a little reckless. I think to be fair to them, what they showed was the model's capabilities of being able to find vulnerabilities or find issues in code, which is fine. They should do that. But remember, cybersecurity is something different. What we do, what the industry does, us and other players in the industry, we build the constant scaffolding required to deliver cybersecurity. So we are sitting on the end point. We're sitting in your data centers. We're sitting in your applications. We're sitting in your cloud instances. We're watching the traffic back and forth to make sure bad guys are not coming in. That scaffolding requires to exist. That scaffolding also needs to use AI. So we will all be using AI, but I think this just increases the opportunity for cybersecurity companies and also makes us totally essential to future technology development. Well, could that be a reason why you actually went into the open market and bought an amount of stock that I think really popped people's eyes? Well, Jim, I'm not a trader. I don't understand the market as well as you do. But sometimes even more blindingly obvious to me that this is a mispricing and misunderstanding of the market. So I decided to make a reasonable purchase in the market because it's important for us in the cybersecurity industry to show confidence in our sector. I honestly believe the events of last weekend are a net accelerant to cybersecurity, not a detraction from it. Well, also, you know, we're all getting a little scared. I mean, we're getting scared because, for instance, the FBI director was hacked. And now is that possible? Look, if you bring a big barrel sort of battling ram, the thing that breaks things down, the bigger you bring it, you can eventually get into people's defenses. So there are lots of configuration issues, lots of things that we don't do. We don't use two-factor authentication. There are many different ways that bad actors are going to get into our infrastructure. That's why it becomes more and more important for us to be able to block these things real time. Security has traditionally not been as real-time as it needs to be, but AI is going to make sure that we get to real-time security. Well, you know, I think we are scared. We're scared for good things like... Scared is good for our business, by the way. That's true. We ought to be. Every desktop now... I don't know how you're going to be scared at selling cyber security stock. Well, it certainly makes the sale easier. How about that? Every desktop now effectively haves like a server. It's like they have unsupervised AI tool operating. What this maybe feels like is that someone who may not be all that skilled may not realize they can click on something and that could end the practice of whoever they're working for. Look, Jim, these new AI models are producing capability much faster than humans are able to adapt, adopt and understand them. Right? Suddenly we see open claws show up on a weekend. Now there's many different kinds of claws, which are agents that can help you automate tasks. Well, guess what? These agents need your permission to be able to go execute these tasks. I'll tell you an incident we saw recently. An agent was trying to get something done in an infrastructure. It realized that wasn't able... Didn't have the permissions to do it. The agent decided to rewrite the permission so it could obviate the security. Right. So you got to be careful. These agents need governance. They need control. They need kill switches. None of that scaffolding, as I call it, has been built for AI. So part of what needs to happen is these AI labs need to make sure the right scaffolding exists to provide the governance and control for AI. Without that, we're all hell is going to break loose. How do you get the right people to do that stuff? How come they're the good guys? Sorry? Well, if you're a bad guy, you can make a lot more money than being a good guy right now, right? I mean, I never see anybody in jail. Where are the people in jail? You know, is there like a special wing of Levinworth for these people? Like, there's a whole set of people who want to make sure that technology gets deployed in a responsible fashion. These are good people. These are the good people. They work in the cybersecurity industry. They also work in the technology industry. You know, the cyber guys are the guys who first told me this. They said, you know, we have to have guys if they can't leave. We can't even have them leave. It's too important. You got that same attitude. We can call them the Palo Alto guys now because we closed the accrualism department. I know you didn't. I love those guys. Those are guys who are dedicated to the proposition. There are guys who invented privileged access management. They're the guys who said that there are certain people in technology who should be protected, their credentials should be protected. If their credential gets stolen, large infrastructure systems can be brought down. So that is where the idea of treating IT administrators as privileged access people came about. Today, almost every second person using technology has to be deemed as privileged. Am I not a privileged access user to my own email? I am. If my email gets hacked, I show up in the front page of the newspaper. How fun are those guys? They're tough guys though, right? Tell me what it's like to work with them because I got to tell you, I was totally into those guys. Well, look, CyberArch was a great company. We're very pleased and delighted that they gave us the honor of being part of Palo Alto. They have a large contingent of people in Israel. So do we. And I tell you what, the resiliency teams show in Israel with everything going on. Geopolitically, the fact that they show up every day to come to work and try and do their best work to protect the world's technology infrastructure just boggles my mind. They're just amazing people, not just at CyberArch, but also at Palo Alto who are trying to keep the cyber flag flying high. Okay. Now, the last thing is I went, I first got introduced to the introduction from them and they always said to me, listen, we make everybody available. Something goes wrong with this guy. There's any use to bringing the set. One of the things that I keep thinking, let's say I was using the anthropic cyber security and something goes wrong. Who do I call there? Decafelladario? I mean, really top guy? Maybe give him a jingle. More than likely, nobody is going to be able to use the AI models independently of cyber security companies for cyber security. What's going to happen is these models will power our security capabilities and make certain things faster. Whilst there'll be a whole host of things that we already do where we sit on sensors, build sensors. So it'll have to be a partnership. It'll have to be together. And AI is going to make cyber security work better, faster, with higher quality. But that's what the market doesn't understand. Okay. The last thing, there was a company, Medtech Play, a pretty good company. I looked at their building and it wasn't their name. It had Iran. Iran, the Iranians hacked the lights of the building. This Iranian war has got a little bit more than we think. They're not bad at this, at being bad guys, are they? Look, there are certain countries around the world who have developed an expertise in both defensive and offensive cyber security. Some of them use it for defensive purposes. As I just told you the example of four or five thousand people sitting in our offices in Israel. There are people who are very good at offensively. Well, it might be good that cyber archives might actually be tuned to some of the things. They are very tuned to some of the things. And I think part of what we build are antidotes and solutions to those companies. Yes, as I said, sometimes those companies get preached. We step in to help them bring back their infrastructure. I don't know if you saw there was a blog post recently where the same company you mentioned actually said that our team was instrumental and bring them back up and running to get them. And we'll bring up one more thing. Again, $10 million is real money. You know, look, I've seen guys buy $500,000 with a stock for rich and just say, that person's painting the tape. I've never seen anyone put $10 million down unless they thought the stock was going to go higher. Look, Jim, I've had the privilege of working at Palo Alto for almost eight years now. In the last few years, I had to divest some shares because option programs and stuff won't get in the details. But for the first time, I got unfettered ability to buy stock. I think this is a great company. I think it's a great market, great sector. I believe the future of cybersecurity is huge going forward. I think the more technology that we bring to bear, the more it needs to be delivered securely, safely. And I think AI is going to be huge and it's going to require responsible companies to help deliver responsibility to our customers. I really agree with you. I'm so good. You came to the set to tell the story to Keshavar, Chairman, CEO of Palo Alto Networks, who actually has more stock than he did last time I saw him. Everybody's back here for a break. Coming up with Salesforce unveiling new AI capabilities for its Slack platform is the company being undervalued right now. Kramer's asking CEO Mark Benioff. Next. What made you confident that you could do something that hadn't been done before? I have no fear of failure. Trailblazing women changing the game. One of my favorite pieces of advice. Think about what your boss's boss needs. Leadership can look in many, many different forms. It really does come down to just trusting yourself. Life is short and you just got to think big to accomplish big things. Julia Borstyn hosts CNBC Changemakers and Powerplayers. New episodes every Tuesday wherever you get your podcasts. We all know it's been a brutal period for anything related to enterprise software because Wall Street just somehow assumes this entire industry will be devastated by AI. For example, Salesforce reported what I thought was a pretty darn good quarter of February, but the stock hasn't been able to get any traction since. Makes no sense to me. Salesforce is booming AI business on its own in Agent Force. And they just pulled out a bunch of new AI powered features for Slack. Plus the company's also putting its money where its mouth is. 50 billion dollar buyback, which is already underway. That's enormous. Remember it's only 172 billion dollar company. Let's take a closer look with Mark Benioff. He's the co-founder, chair and CEO of Salesforce. Get a better sense of what's happening here, Mr. Benioff. Welcome back to Mad Money. Jim, it's always great to be with you. Hello from San Francisco. Well, Mark, I would like to give a hello to the new Slack. I thought you might be able to tell us because it's quite different from the Slack that you told me to use and I've been using. This is something very new, very different. Jim, you remember five years ago we bought Slack and it was an incredible company, but it's become an even a better product. And we've also tripled revenue during that five year period. We're anticipating about three billion dollars in revenue this year with Slack. Pretty incredible. And I'll tell you why it's one of the fastest growing products at Salesforce, Jim. It's really this AI revolution. This has become the interface to AI. If you look at these hot AI companies we have here in San Francisco, like OpenAI, Anthropic and so many others, they are all running their companies on Slack. And so it's become not only this incredible platform to automate your companies, but also the number one AI ecosystem. In fact, we had hundreds of companies here today in San Francisco, showing all the incredible things that they've built on Slack. And of course, anybody who uses Slack every day already knows that this is just awesome. What happens inside Slack? We've even made Slack the new interface to Salesforce itself. Well, let's talk about the interface that is Asianforce and how that's doing. We've spent too much time talking about, I think people have spent too much time talking about the software as a service, which is doing okay. And not enough time talking about Asianforce, which is doing far more than okay. Well, Jim, Asianforce like, by the way, a lot of incredible software companies. You've seen these amazing results that have happened over the last several months. Because software companies are reported, including Salesforce itself, having amazing quarters. I think our quarter was probably the best quarter we've ever had, exceptional revenue and cash flow. You saw the numbers, Jim, it was awesome. But guidance for this year of over $46 billion there hasn't been, I think any independent software company that's delivered that level of capability of $16 billion of cash flow. Well, we're not alone. Our whole industry is delivering phenomenal results. So I think that this idea that software and software as a service can be disregarded in the age of AI is quite nonsensical. And instead, I think what we have to look at is how are things changing and how are things becoming more important in companies with the combination of software and AI. And Slack is indeed a great example, Jim, where AI has made Slack so much better. You know about Slack Bot that I use it every day. It just makes my life better. It's humans and AI working together. Now, I mean, we'll get these discordant messages periodically. Like in November, Sam Altman says, open AI CEO says, Slack creates a lot of fake work. Of course, Elon Musk just viewed that. But I mean, why did he say that? What is that about? Well, I don't know exactly anything about that. I do know that open AI is a tremendous customer of Slack and Salesforce running their sales and service on Salesforce's core applications and Slack itself. In fact, whenever I'm with Sam Altman, and I'm a huge fan of Sam Altman, I think he's a fantastic CEO. He opens his laptop and it's Slack running his business. And that's true of most AI company CEOs here in San Francisco, really through our whole industry. And I think it really indicates that the software industry is still very much alive and well and growing. And you can see that in these Slack numbers. But you can also see it in the tremendous innovation that is happening in our core. And you mentioned Agent Force, where we've sold tens of thousands of companies, this new incredible product. I think I was the first one to use the word agentic on your show. I remember you had to go and look it up the first time I used it. But this idea that it's humans and agents working together, this is the next level of automation to big companies, Jim. Oh, no, it's quite exciting. And I know you had about 29,000 people on it. Now, you must have trialers and then takers. The vast majority of the trialers become good customers. Jim, you look at this incredible company, Pandora. You probably know them out of Copenhagen, Denmark. They are this incredible jeweler. You go into these shopping centers, you'll see the Pandora stores. Well, not only do they run their sales on Salesforce and their service on Salesforce, they even use our new point of sales, point of sales on Salesforce. And in addition to that, Jim, they have not only a human Salesforce in all these stores and online, but an agentic Salesforce and an agentic service force. So they have put this theory into action. They become more successful than ever by teaming up humans and agents. And that's what we can do. We can spawn agents that make you more productive, to service your customers, to sell to your customers, and to work with your employees to make them a whole new level of success. Okay, now let's talk about the stock itself, which I care passion about, my travel source owns it. I think that the decision to do an accelerated share of purchase for 25 billion, which is now done, and 25 billion in the market shows me, you know what people, if you don't know what all the good things are that we're doing, we'll just buy the stock back. And then when you realize it, you'll end up being paid, you'll pay 300, you'll pay 400. Am I too bullish in thinking that that's ultimately the issue? Because there is a disconnect mark between everything you told me whether it be agent force or something. I was going to say they're re-naming the company agent force, and then we got the new Slack. I don't know if I want that to happen. But what you're telling me is too big for $186.67. Well, Jim, I don't know how to do this, and I say this every time I'm on your show for, you know, for well more than a decade or maybe two decades. Two decades. The idea that I don't know how to value the stock market, but I do know when our stock is just too darn cheap. And that's why we bought back 11% of our company. I wanted to buy a quarterback. Everyone knows that. They saw us line up for $50 billion. I wanted to buy the whole thing back. I just think this is an exciting moment, you know, for software. Software is going to have more value for companies than ever before, not less. We can offer and do more for companies, not less. And that is what I'm excited about. And I could never sell agents before, and now I can. You know, I'm still selling apps. Our companies are still filled with huge numbers of humans who need apps to work, humans to use Slack, human to use our sales cloud, our service cloud, Tableau, all of our applications, but also now agents that are making those humans better and augmenting them and that and elevating them. And that's what's exciting to me. Do you have enough engineers to keep building? At Salesforce, we have about 15,000 salespeople and about 15,000 engineers. And those engineers are way more powerful than ever before because all of them can use these new coding models. So they have the ability to not only manually code, but they can spawn agents that code as well. It turns out agents are very good at coding because coding is not like when I was, you know, coding in 1984 on an assembly language at Apple, you know, it's now very much a language motion and you're able to speak to these coding systems. Well, so can these agents. They're able to code in addition and in partnership with our engineers. So more productive engineers, more productive salespeople, a more productive Salesforce. I think that's why we just hit those record numbers, Jim. And we want to do that for all of our customers. I hear you and I believe, I believe, I think the market has to believe. Maybe this is what it takes. Then everybody's on Slack for them to realize maybe it's worth owning the company that makes Slack. How about that? I'm going to work on building the best software I can and having the highest level of customer success possible. And I'm going to turn over to the stock market to you, Jim. All right. Why don't you do that? I'll take care of it very much. And I can't wait to see you out in San Francisco. Say hello to everybody. Great to see you, Jim. All the best. Mark Benioff, Co-Pattern, Chair, CEO of Salesforce. More fired up than I've ever seen him. Thank you, Mark. Coming up, looking for a play in the energy sector, Cramer is sitting down with the CEO of a small natural gas producer that could be for you. Next. Even when the war in Iran runs its course, the events of the past few weeks will have a lasting impact on the global energy industry. In particular, look, I think Iran's de facto control of the strait of removes means the United States will end up playing a much larger role in the liquefied natural gas export market. We have tons of this stuff and we're building new export capacity, something that's becoming more enticing to our trading partners with the disruption of the Gulf, which brings me to BKV. Now, this is a relatively small natural gas producer that's gotten us some adjacent businesses like power production and carbon capture utilization and storage. Since coming public just about 18 months ago, BKV has rallied roughly 58%. So can it keep climbing? Let's take a closer look under the hood with Chris Cowden, he's the CEO of BKV Corporation. Find out what you're counting. Welcome to MAMMONEY. Hey, Jim, very glad to be here. I'm so glad you're here. Look, we've not had you on the show and I thought that your model is so novel, although we've been begging natural gas companies to do exactly what you're doing for about a decade. Why don't you share with people how you are different from the traditional E&P company that we've all seen? Yeah, Jim, we combine an integrated business model in a closed loop fashion. I call it closed loop because we take gas from the wells right down the pipe to the power plants. We can combust it there and then we can neutralize the carbon footprint with carbon capture. That's an end-to-end business model that wins because we can create more margin along that value chain than our competitors set. And it's really taken off in this AI data center boom right now as well as with the situation in the Gulf that you mentioned. Now, you are in Texas. You are near people say, well, wait a second, does he have any do of the hyperscalers? Well, in truth, you do. You've got a relationship with Meta. Now, Meta obviously sees the value of your closed loop system. Others probably are going to follow. Absolutely. I mean, this model is really becoming the go-to process. When you think about 12 months ago, hyperscalers were not talking about gas as the solution for their energy needs. Now, if you look at what they're saying, they're all saying gas plus carbon capture is the answer. Nuclear is too far out. And where do you have more gas that's available and you can build quickly? Well, Texas is the spot. Yeah. I think we were begging Kotara to say, would you please sit down with one of these hyperscalers and make it happen? I've also seen Caterpillar with thousands of engines go to wear natural gases. But the easiest thing would be to contract with you. Absolutely. We have an operational 1.5 gigawatts today. We're producing electricity today. We have nearly a BCF of gas, gross gas in Texas. We're injecting CO2. We have the whole business model operational and it's all in Texas right now. So if you're building a data center, this is a company where people can come and see the whole thing come together in one package. It's incredibly powerful. I'll tell you, I'm more excited than I've ever been about where this market's going and where we're positioned in. Well, what happened to the Barnett Shell? When we first started the show, it was where everybody was. And then people decided to go west. But there turned out to be plenty of natural gas in Barnett. Maybe they moved too soon. Absolutely. Right. So you're exactly right. The people left the Barnett. They pulled the capital out. They were more sexy plays, you know, Hainesville, Marcellus, but they evolved the technology. And so all we did is take all that learnings from the Barnett, I'm sorry, from the Marcellus, from the Hainesville and reverse apply them to the Barnett. And we've been able to just show so much more productivity. Our capital efficiency just keeps getting better because we're just reverse applying the technology. There's 200 feet of pay in the Barnett. It's a big, big play. Well, I'm also glad you're doing the carbon capture. I'll tell you why. Because when I speak with the CEOs of these companies offline, they say, listen, Jim, I know you love natural gas, but you know, natural gas has to get a little bit more forward. They can't be flaring. Now, they don't flare it all anymore. So I don't know what that's talking about, but they really did want carbon capture. And you are forward enough to think, look, it doesn't really matter who is president. Maybe carbon capture is a good idea. You're right. And you know what? It works. The economics and carbon capture, it's been around for 40 years. This isn't something new. And what we've done is we've said, look, what do the customers want? They want their natural gas. They want it cheap. They wanted a Barnett. They want it from the U.S. And they don't want to feel bad about the environment, at least some customers. And so I always say, you go to the grocery store, there's organic bananas and there's regular bananas. Some people are buying the organic bananas. Dirt twice is expensive. We're selling organic gas. I mean, quotes around organic, but that's what it is. And the carbon capture allows us to do that mathematically. Now, Chris, do you think that the country got a real wake up call and recognize, you know what? Our, our, we're paying more at the pump. We don't seem that integrated at all, but they see that natural gas did not go up. Do you think people recognize maybe for once what we've gotten this country? I hope so. And I, you know what I would say? It's starting to dawn on folks because what you saw for the first time, and I'm seeing it more and more now is people saying, okay, well, talk to me about this natural gas thing. And it's not just U.S. consumers. We're seeing an influx of international consumers, international investors start to come to the U.S. and say, if I'm not going to get my energy from the Middle East, I've got to be in the U.S. What are the opportunities here? What are the opportunities here? So we're really seeing this in the last six weeks, just paradigm shift that's happening. So I, I'm with you. This is a, a wake up call that's really happening. I think it's going to continue over the next several months. I also think that you're really, you're, you're, uh, your MO is going to become the industry's MO because they just keep waiting for some hyperscalar to come there. They're playing a 19, they're playing a game from 1992,000. They are still playing that game. You are not playing that game. Well, I'll let you say that, but we're trying to do is go to where the pucks going. I was saying, we're trying to escape. Where's the puck going in this thing? Right. Where are folks going to go? If you need a gigawatt of energy, a gigawatt in two or three or four years, there's only one way to get that. It's not turning on more wind. It's not turning on more solar. And it's certainly not building a nuclear plant. It's putting up a combined cycle natural gas plant. We've got 1.2 gigawatts on order and we already are producing 1.5 gigawatts. And we believe this is the way that the market's going to go. And then you got to have the option to decarbonize it for the guys who are sensitive about the carbon footprint. So we've got that whole package in existence today. Well, look, I'm so glad you came on the show. I've heard a lot about you. You're obviously the real deal. It's very exciting to me because this is what we need. You've got proof in the country that we've got something that is not connected to the other places. So we're insulated. This is where our continent is indeed. We're sequestered and we're fine. And I want to thank guys like you for making that happen. That's Chris Cowden. He's the CEO of a symbol BKV. Remember that. This is a good one. Thank you, Chris. Thanks for coming on. Very thanks, Jo. Maybe I'll just back you up for a break. Coming up, you've got questions. Cramer's got the answers. Get charged up for a fast fire lightning round. Next. It is time to talk about the light round. Play the round. Before we get to the top, I'm going to talk about myself. So just put your notes up there. Come on, stand up. We're going to play this up. And then the lightning round is over. Are you ready? Skid. Dad, talk about the light round. Chris and brother, let's start with Jay in Arizona. Jay. Mr. Cramer, thanks for taking my call. And Booyah from Sunny Arizona. Booyah to you, my friend. Booyah to you. What's up? Well, my bracket's not busted. I may have some extra mag money, thanks to the Arizona Wildcat. What are your thoughts on Westlake Chemical? The sector seems hot. Well, I think the sector seems hot, but if the war is over, I think that stock is such a sale. So good. The company as it is, it's got a parabolic move. I think you should take profits. Take profits tomorrow. I don't like what that chart looks like. Let's go to Scott in Wisconsin. Scott. Hello, Jim. Hey, Scott, what's up? Why has the price of gold been falling for the past three weeks? I assume that with all the conflict and troubles going on in the world, that gold should be going up. I own Derek Mines. Why is gold going down? Gold has been a mind of its own. It trades with speculators. We had a Vico Eaglehorn, which is the gold suck you want to buy. And the CEO said, listen, it's just all speculators. A lot of young people flipping in and out. I don't like that. But I do like Agnico. Let's go to Keith in Illinois. Keith. Hey, Jimmy Chill. Thanks for all that you do. I'm a 30-year-old investor. I'm below my cost of being on this one. Can I buy more Aqta? Yes, you can buy more Aqta. I think that one of the things that Todd McKinnon has demonstrated is consistent earnings power, and I would be a buyer of Aqta. And that, leading to the conclusion of the lightning round. The Lightning Round is sponsored by Charles Schwab. Coming up, why is the market souring on the recent deals in the food sector stocks? Kramer is not happy about it, and he'll tell you why next. Sometimes a group is just so hated that it doesn't matter what any of its members do. You know the stocks go on long. Tame the Cormac, the flavor company, as they call it, made a bold move, merging with Unilever, merging with Unilever's food business, including Hellman's mayonnaise, Coleman's mustard, Noor Soups, and what's known as a reverse Morris Trust transaction. Unilever and its shareholders do only two-thirds of the company going forward, but it will keep the McCormick name and the New York Stock Exchange listing. McCormick runs the show going forward, and I like that management team. Deals should be added to McCormick's earnings in the first year. Huge cost savings. Terrific synergies. And the market hated it, with the stock plunging 6%. Or how about yesterday, Francisco, not the CSCO kind, but the SY-SCO kind, SYY. The very reliable food service distributor. It put Jettro, this terrific wholesale supplier, where you can pick up just tons of food and save a lot of money in the process. Everyone who's starting out in the restaurant presents no Jettro. It's fantastic. You always go there, by the way, if you're in a jam, and I've been in a jam many times, why would you be in a jam? Because it's an emergency. Don't have the right kind of food. You've got to go get shrimp. You've got to go get steak. Otherwise, you have any large or regular food needs, you use SY-SCO. This deal is a one-two bunch. If you were running SY-SCO, and you saw that Jettro came up for sale, bye, it would be a no-brainer. Everyone in the restaurant game knows that these two are the only real games in town, and to put them together is like white on rice. The Jettro shareholders, they received 21.6 billion in cash, 91.5 million shares of SY-SCO, for this match made in heaven. And what happened? Market hated it. SY-SCO stopped flowing from 81 to 69. Back up to 71 today. What's going on here, really? First, I have to tell you that these kinds of properties don't come up often enough, and you'd be nuts not to buy them if you're another major company that needs scale and heft and touch points with consumers, as these companies do. The Korma-Gastro Food Service business, it can immediately add helmets and colmens, mustard, combine with their spices and seasonings and hot sauce. They'll be able to entirely dominate some aisles in the supermarket. They need to buy it even if it were just for the helmets, just for the best. As for SY-SCO, the Jettro Acquisition Superb. First, I trust SY-SCO will clean them up. I'm not crazy about the dark and dank portions of the Jettros that I've been to. Second, Jettro is a natural feeder to SY-SCO, as I know from my own endeavors in the restaurant business. But what these superb deals tell you is that this business is changing. When I think of aisle dominance, for example, that's just the baby boomer in me talking. So many people get their groceries delivered these days. Maybe they don't even know about the Korma-Spice aisle, or Frank's, the hot sauce, or Cholula, the dominant Mexican sauce. But do you really think that McCormick won't run the Unilever food business better than Unilever did? Unilever's like P&G, it doesn't want food, it doesn't fit. They don't care. Afterthought for them, even though a good company won't be an afterthought for Brendan Foley from McCormick. Both McCormick and SY-SCO used to be considered growth companies. Now their value plays in a market where no one wants value. McCormick trades at 16 times earnings, 3.81% yield. Stock just doesn't entice. Same goes for SY-SCO, 3% yield, 15 times earnings. Today was a big day for the market. Wow, a huge number of stocks rallied. Food stocks? No. They used to be considered safety names. I guess this is safety last kind of market. I would not give up on these two. They are well-run and consequential, but I understand that no one has time to wait for deals to close for food and food-related stocks. I, give me this, six months from now, let's look at where McCormick and SY-SCO stocks are. And then I think we'll see that these two deals are incredibly additive, and the current stocks that we see right now are going to deserve to be much higher. I like to say this is a always-able market summary. I promise I'll find it just for you right here. I made money. I'm Kim Cramer. See you tomorrow. What made you confident that you could do something that hadn't been done before? I have no fear of failure. Trailblazing women changing the game. One of my favorite pieces of advice. Think about what your boss's boss needs. Leadership can look in many, many different forms. It really does come down to just trusting yourself. Life is short, and you just got to think big to accomplish big things. Julia Borstyn hosts CNBC Changemakers and Powerplayers. New episodes every Tuesday, wherever you get your podcasts.