Mad Money w/ Jim Cramer 4/10/26

If the markets were a friend, there'd be the one who texts constantly. Updates. Opinions. Did you see this? All day, every day. Capital.com isn't another voice in that thread. It's the space between the messages. Bringing news, charts and economic calendars into one place to give you the full picture in between the noise. Capital.com designed for clarity. 62% of retail investor accounts lose money when trading spread bets and CFDs with this provider. If your team isn't using your CRM, it isn't working. PipeDrive is a simple CRM. It's easy to use so you can focus on closing. Get 30 days free at PipeDrive.com forward slash audio. My mission is simple. To make you money. I'm here to level the playing field for all investors. There's always a boom working somewhere and I promise to help you find it. May Have Money Starts Now. Hey, I'm Kramer. Welcome to May Have Money. Welcome to Kramer. I got a new friend. I'm just trying to make you a little bit of money here. My job is not just to entertain but to do some teaching so call me. 1-800-743-CNBC. Tweet me at Jim Kramer. The market's bold. The market's decisive. And frankly, I find it incredibly overconfident right now. Given the tenuous stage of our ceasefire with Iran and the fact that they can shut down the most important commercial waterway on earth in a heartbeat and we can't seem to be able to do anything about it. I start off tonight's show this way not because I'm some military strategist. I am however a stock strategist. Someone who can help you gauge the appropriate level of confidence in your stocks every day like today where the Dow lost 269 points, it has to be dip 0.11 and the United States advanced 0.35%. I believe that many investors have gotten ahead of themselves and maybe are too bullish considering these circumstances. It's a heck of a run we've had here. The idea that everything will finally go right in the Middle East seems like a real stretch to me. The Iranians are totally intransigent and so the belief that the president can keep the straight of her moves open feels almost Panglossian. If there's one thing I learned from Candid it's that Dr. Pangloss would have made a lousy investor. Two weeks ago everyone was on tenor hooks so we got oversold and then we had a buy exposure when we got wind of a truce. Now again and again I see many people who are suddenly sanguine about stocks which is not in keeping with the treacherous nature of the situation away from the market. Still, I don't think we're in a totally make or break moment. I'm not trying to tell you that. There's no systemic risk here that I can see something that can bring down the whole entire edifice and remember as I show in how to make money in any market there's only been one time in the last 42 years that we didn't make back our losses from a huge decline rather quickly and that was in October of 2007. Who took you over five years to get back to even and then the market swore without you if didn't get back in though. It was mighty tough to pick that bottom so it's almost better just to say I'm not I'm standing no matter what. I bring up that stock market history not to make you feel overconfident or underconfident but just to let you know ahead of time that this too shall pass although it sure feels like it doesn't right that it can't. Having said that there's a real possibility that the negotiations go barely this weekend which will not be good for the market. I just wanted to have that in front of you and with that somewhat somber preface let's get to our game plan for next week. All right. My travel trust has a very big long very big position in well in Goldman Sachs. That's my alma mater and when it puts a Monday boring some serious Iranian action that causes a spike in the price of all this weekend. I think you'll see a solid set of numbers and a good reaction to the numbers that Goldman Sachs prints. Now I've got to tell you this judgment does stem a little bit from my time at Goldman. Why because that's where I learned to manage and profit from risk. It's what the firm does best is manage risk in his volatile market like the one we are having that's Goldman specialty. Tuesday is the first chock full day of earnings season. It's got three major banks. Shaping Morgan Wells Fargo and Citi. Now they each have their own characteristics. Shaping Morgan is a terrific bank but it has a gazillion important inputs to its quarter and its CEO loves to be really cautious. Wall Street often finds things to quibble about even if they're not worth quibbling over. As for Wells Fargo we are for the travel trust. This is not an earnings story. It's a long term turnaround story or said by CEO Charlie Sharp. A fantastic bank exec who wants that stock price higher is willing to buy back a lot of stock to do so. City is now love love love by everybody on Wall Street and it's the stock that I think is probably the most likely to jump higher next week. It's like a trained rabbit. It's just a jump jump and it jumps. I don't know how that happens. It keeps happening. The estimates are always too low. People like the stock of Citi. Now my favorite drug stock reports next week do and that's not Lily anymore. Johnson and Johnson. We own this firm for the travel trust and I think we're going to hear that it's the most blockbusters and the best pipeline in the industry. This is a company transformed to shedding slower growing divisions focusing on research that can produce life-saving drugs. I eagerly await this one. Word to the wise. It's really important. J&J has a habit of getting hammered on the news release when it comes out in the morning and then rallying once the conference call starts. If it gets blasted try to get some. All right now more banks Wednesday. Morgan Stanley and Bank of America. I think Morgan Stanley should have a good quarter and given that I expected great number of IPOs in the second half of the year this investment bank should have a fabulous 2026 Ted Pick. I bet they have their traders fired up and they'll be instrumental in putting up a good quarter. Bank of America we saw. I like saw. You can do worse than saw. Now after the close we're going to tune in to one of the best companies in the truck industry that nobody listens to other than MIT and that's JB Hunt. Great conference call. After three down years of sin industry finally won fire I expect JB Hunt's stock to be headed higher. Thursday we get results from the second best packaged food company in the world that's PepsiCo. Second best because Coca Cola first. I've been impressed by how well Pepsi is dealing with the travails of processed food in Europe. That's one weight loss drugs and healthy diets for young young adults. While CEO Ramon Maguarda has had his missteps like the chips they made that were too expensive. He's navigated both soft drinks and fruit away in a way that demonstrates that he's listening to the customer. Thank heavens. Really makes you wonder what the other guys do. I also want to hear from Abbott labs. This is tricky. Okay. It sucks down and is downing 20% for the year after that last just so so quarter and a loss in a lawsuit about a special baby formula. But I don't know if this really this stock really belongs on a 52 week low list. I mean that set of app it's going to go higher. It's going to have to give us a couple reasons to call. Netflix reports Thursday and this company's a juggernaut. So many thought that they took their eye off the ball with the attempt to purchase Warner Brothers Discovery. I thought it'd be terrific either way. Okay. If they got it would be terrific if they didn't want to get paid 2.8 billion dollar breakup fee walk away. I think they can just build a great studio on their own. But more importantly think of this. Netflix came out of nowhere to build this incredible the greatest entertainment company in the world. I bet they can just keep doing what they're doing. Let's give them the benefit of doubt. Friday is a regional bank day. I like regional banks. We had a better sense of how Main Street's doing now. It's a true of good of good ones. And this is what's really important. Fifth third regions and truest. I am a huge believer that this year will be the year when the big banks like the ones that I covered down here. The big banks will because the regulatory regiment is so much looser. Will try to buy not necessarily these three although I would I would really buy fifth third but they're going to try to let them buy these smaller banks and that's going to be fabulous for owning the smaller banks. Not just the big ones. By the end of the week we should know a ton about the state and consumer and corporate America's appetite for acquisitions and IPOs. Here's the bottom line. Despite that tenuous ceasefire with Iran I bet there's a notion of opportunity. I just think the bulls need to pull in their horns a little bit. They need to have a little more fear to match the fear about what will happen with Iran over the next week. Otherwise the overconfidence and the overbought nature of the market are just simply not conducive to us going that much higher. Why don't we go to Kyle my homestead New Jersey Kyle. Mr. Jim Kramer my best friend how are you sir. I am doing well partner how about you. Right I have to tell you something. These people are constantly killing you and I'm so mad about it because I at one time in my life it was hard for me to wake up in the morning to go to a job that I could not stand and you said the other day how your mom wanted you to become a teacher and you taught me how to manage money how to give me freedom and now I have a business of my own that I just every day is a vacation because of you Jim. Thank you. I have to tell you vacation. I have not seen any comments about me in the last seven years. Dylan Reebok who works with me said stop reading them and I haven't read a single one I'm a third. I guess they're paying 200 for Nvidia but our people got in it too. So you know what I say. Pound sand jokers. Let's go to work. That's right man. Okay. So listen I sold I sold this stock a couple months ago at the top in September and I'm looking to get back in it. I feel like they're buying bad that the company finds so much of the stock like I feel like they're going to buy back their own company. What do you think about me going back in the lift? The best one yet. We talked about this with the guys the best one yet and I have to tell you I am I'm an Uber guy. I'm an Uber guy. I walk table rich. We know that but I think that Uber is very very cheap right here. I broke that bottle. I'm sorry. Okay. Let's go at least it wasn't Gatorade or something. Can you imagine it was Gatorade or like Diet Coke. Let's go to Bill. I've been hydrating. Do you ever go to a doctor who says you know I don't want you to hydrate. No they don't want you to hydrate. What is up with the hydrate? I used to by the way I'm I used to call it drinking up a glass of water. Let's go to Bill in North Carolina. Bill. Hey big Jim how you doing? I'm doing well Bill. How about you? I got a brain teaser for you. Okay. Last year last year everybody was telling about Shake Shack. They had billions of dollars and they were building a burger joint on every corner. That's saying some sliced bread right. So I bought it $121 a share. Okay. And as soon as it started dropping as soon as I bought it I ended up dumping it at the end of the year to save on some capital gains but I lost about $20,000. So here's my question. The question is that's supposed to be a good company has good cash flows and fundamentals. How do you know whether to hold on or to sell or what to do because here's the problem. It has never come back. It's finally okay. Okay. But Bill, Bill I lost 20 G's I feel bad about that but I've got to tell you here's what you're missing. Rob Lynch runs Shake Shack now. Shake Shack was not run the way I would have liked it. Rob Lynch is a winner. So what the reason why you would stay with it is because of a fundamental change at the company and in this particular case call me bullish. Despite the tenuous stage of the ceasefire I think there's opportunity here for the markets they get a little you know you guys got to lose the overconfidence for every second. Oh man tonight oil prices are still up significantly since the war began. So where do oil producers in America consumer stem right now? Is anyone trying to cash in on it? I'm checking in with RBN Energy's top brass for take on the space. Then the defense stocks have been rallying as much as you'd expect in this environment right. So what will it take to push them higher? I'm taking a closer look I think you'll like it. And if I'll market like this what's the best way to protect your portfolio? Of course it's diversification. And that's why we're playing Kramer Fabe and I diversify. I suggest you stay with Kramer. Don't miss a second of Mad Money. Follow at Jim Kramer on X. Have a question? Tweet Kramer. And if you're interested in the future of Mad Money, you can contact us at MadMoney.com. Or give us a call at 1-800-743-CNBC. Miss something? Head to madmoney.cnbc.com. If the markets were a friend, they'd be the one who texts constantly updates, opinions. Did you see this? Bull day every day. Capital.com isn't another voice in that thread. It's the space between the messages. Bring news, charts and economic calendars into one place to give you the full picture in between the noise. Capital.com designed for clarity. 62% of retail investor accounts lose money when trading spread bets and CFDs with this provider. Most CRMs are clunky and slow down your team. It's time to switch to a new one. That's where Pipedrive comes in. A simple CRM for growing sales teams. See all your deals and customer info in one pipeline. It's powerful enough to grow with your business, yet simple enough for your team to love using it. Switch to Pipedrive and join over 100,000 companies. Visit Pipedrive.com forward slash audio to get started with a 30-day free trial. Fly with the fry. Chicken is here. A 20 hot wings bucket. 20 succulent hot wings for $7.99. Come under our wings and feel the flavor, savior. Sensation awaits. Get the deal. Believe in chicken. Available until the 19th of April. Subject to availability. Participating restaurants only. Excludes delivery. Full season season at koc.co.uk. The stock market's roared ever since we learned about the ceasefire with the rent. But the price of oil is still in the mid-90s. A lot of capacity has been blown up. At the end of the day, whether or not oil can come down is probably the most important question for the broader economy. So let's check in with RBN Energy, the research firm founded by the brilliant Rusty Brazil, who has some of the best data and some real-time insights into this market. This is my go-to research house for all things oil and gas. And that's why I wanted to check in with David Brazil, Rusty Sutton, the current president and the CEO of RBN Energy to get a better read on oil. Mr. Brazil, welcome to Mad Money. Jim, thanks so much for having us. Well, first, David, I've got to tell you, you have a terrific dad. I read your stuff, and I know that you're carrying on the tradition. Now, you've been thrown into a period where it's obvious that things are crazy, and a lot of people, I believe, are looking to you to say, are the oil companies in our country taking advantage of this, or are they just so stunned that they're not changing their plans? Look, I mean, they're definitely going to reap the rewards of these higher prices. And longer term, they're not going to be racing to increase their production. But that's because they've learned the hard way after COVID not to lean out over their skis and try to overspend and try to chase production growth. But don't you think it's possible this might be given the fact there's so much capacity taken out that maybe they aren't thinking longer term, that maybe that whole area of the Gulf won't be as productive as it used to be? Yeah. And to the extent that you start to see the back end of the forward curve or the future months in the forward curve start to increase, I think you will see them start to increase their production a little bit. But they've got to get those long term price signals. All right. Now, one of the things that your father taught me was that, yes, we may be continental. He always said, Jim, never say domestic. Continently self-sufficient because of the way that oil versus gasoline travels all over the place. It may be entirely possible that gasoline would go up in price. That's exactly what happens. So can you tell the American people why, given the fact that we have so much more than we used to, gasoline went up a lot? Yeah. It's an international commodity. And we export and import a lot of gasoline, diesel, and jet fuel. And because we're so linked to those international markets, what happens in Europe and Asia and the Middle East is absolutely going to impact the US, even though domestically or continentally, we do have enough domestic supply. So why is that? I mean, I think people would say, if you have all this in the Permian, that's domestic. Why can't you just refine it and then go to the gas stations and make it so that we never have to worry about what the worldwide price is? If only it were that easy. But again, because we're so interconnected with the rest of the world, we have to, the market is going to respond to those price signals. In other words, these other countries are still trying to bid away our domestic production. And obviously, that's going to be in the market's best interest to go to the highest price market where it's needed the most. Now, you also just did a piece that was excellent about how right now we're not part of the natural gas world price. One day we might be, though, and what would make it so that suddenly the natural gas price overseas, how much higher is it than ours? It's huge. So right now, Henry Hub, the benchmark natural gas price here in the US is about $2.67 per MbTU. If I look internationally at the Asian price marker, which is the Japan-Korea marker, JKM, it's about $20 per MbTU. That's a $17 spread, Jim. So they are clambering to get their hands on as much LNG as possible. The issue is we're exporting max capacity right now. We're exporting about 17.5 billion cubic feet per day of natural gas. That is all terminals running as hard as they can. Now one thing that I read, look, I saw that in Qatar, there's been capacity on natural gas. I don't think people realize that you can't just bring a couple repair people down and fix it. These are monumental projects, right? The biggest in the world. And they can't be fixed overnight. Yeah. So they declared force majeure in early March and took about 20% of global LNG export capacity offline. The trains that were actually hit at their Ross La Fond export capacity, it's far smaller than that. It was just two big trains, both which are JVs with ExxonMobil. And those two trains are going to take a while to receive repairs. It's going to be years before we see all of that capacity back. That's just incredible. Now, Venezuela, you guys have been writing some amazing stuff about it. Actually I was kind of heartened in the last couple of pieces you've been doing. It sounds like the Venezuela actually can increase production within the next couple of years. Absolutely. So what we said in those blogs, Jim, was that the Venezuelan crude oil is heavy. So the way that they need to modify their crude oil to be able to flow it is to upgrade it. There are a lot of upgradeers in country that have degraded operations right now, but that can be brought up to snuff to be able to increase their exports in the short term. And that sure would be appreciated here on the Gulf Coast where we can run it. Right now, is there any oil available in the world right now, including Venezuela, that could drive down prices regardless of what's happening with the war? No, there's just not enough slack capacity to make up for all the stranded cargoes that are out there in the Persian Gulf. So it's really just we're stuck. Okay, well how about, what are you thinking about the strategic petroleum reserve? A lot of people feel this is big. I mean, first it's Japan's got one, but I'm told that they're down almost to the tag ends of the reserve. Yeah, and the strategic petroleum reserve is working as intended, right? So it helps to absorb price shocks and the global response to this crisis has been really heartening to be able to see that they're able to coordinate and release that much crude oil. That said, like you mentioned, Jim, it can't go on forever. So something's got to give. Let's just hope that peace holds out this time. And you guys have also been instrumental in explaining a lot of people that you can't just lay pipe very quickly. There are, I'm sure there are a lot of people who feel like, you know what, why can't Saudi Arabia just lay pipe? How long does it take to do a giant pipe out of the strait to some other place that is safe to be able to load? Gosh, from where at the strait could you build a pipe? I mean, you're not going to build it west. You've got just as many problems in the Red Sea as you do, or not as many, but a lot of problems in the Red Sea also with the Houthis. So to where would you build that pipeline? Short answer is you're looking at it a couple years at best. So what's, I listen to you and I think that it's possible we ourselves could have much higher price at the pump than we currently have, and that maybe we should be expecting that to happen. Well, anything's possible. I think you saw a big sell-off when there was the announcement of the ceasefire a couple of days ago. So that's heartening. That said, if we were to put troops on the ground and things were to be worse longer, I think you're right, you could see higher crude prices in that scenario like that. All right, well, look, I'm glad that you gave us the unbiased view of what is happening, and I wish it were a little more heartening, honestly. But it is what it is. And I want to thank David Brazil, presidency of RBN Energy, and may have money's back after the break. Thank you. Coming up, can the defense stocks provide your portfolio with some protection in this turbulent market? Kramer's digging into the sector. Next. If the markets were a friend, they'd be the one who texts constantly, updates opinions, to just see this all day, every day. Capital.com isn't another voice in that thread. It's the space between the messages, bringing news, charts, and economic calendars into one place to give you the full picture in between the noise. Capital.com. Designed for clarity. 62% of retail investor accounts lose money when trading spread bets and CFDs with this provider. Most CRMs are clunky and slow down your team. It's time to switch to a new one. That's where Pipedrive comes in. A simple CRM for growing sales teams. See all your deals and customer info in one pipeline. It's powerful enough to grow with your business, yet simple enough for your team to love using it. Switch to Pipedrive and join over 100,000 companies. Visit Pipedrive.com forward slash audio to get started with a 30-day free trial. 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. You've got to think big to accomplish big things. Julia Boorstin hosts CNBC Changemakers and Powerplayers. New episodes every Tuesday wherever you get your podcasts. Do you remember when President Trump took office again and the defense stocks all cratered because Wall Street was worried about budget cuts? At the Pentagon? In retrospect, that would have been a great time to buy nearly all the major players. Aside from Lockheed Martin, which was basically a fly-lisher, Northrop Gump and General Dynamics, RTX and L3 Harris, they rallied anywhere from 21 to 58 percent. Turned out Elon Musk's doge spending cuts were totally irrelevant to the Pentagon. What a fakeout. And the administration has conducted foreign military operations in eight different countries, as well as the Caribbean and the Eastern Pacific. The people thought it was going to be in isolation, so that was a misdirection play. At the same time, Trump has been pretty successful about getting our European allies to pay more for military hardware. Some of that goes to their own defense contractors, but they don't really have that many. They're sabre-rattling over Greenland, though, still made it so a lot of it didn't come here, but a lot of it has, too. Of course, it's hard to get a read on the second Trump administration. One day he bars the defense contractors from dividends and buybacks. Then a few hours later, he proposed raising the Pentagon's budget by 50 percent. Hey, by the way, we haven't heard much about the plan to restrict defense contractor buybacks from dividends since that initial post in early January that scared people so much, but the Trump administration has followed up on that $1.5 trillion defense budget at the very least. They've asked for Congress for that money. And of course, this year has been great for the defense contractors, thanks to the War with the Rim. Now, that's what you'd expect, right? But when you look at the trajectory here, it's actually education. See, the defense contractors screamed higher throughout most of January and February. Then they peaked right at the end of February before starting to go lower. We attacked Iran at the very end of February, and the defense stock spent nearly the entire month of March drifting lower before stabilizing about two weeks ago. Since then, they've had modest recoveries, but for the most part, well, they're all below where they were trading in early March when the war had started. So what do we make of this? Does it mean that they're finished? Honestly, no. See, this is how the stock market works. It's a prediction machine. As we sent more and more military hardware to the Middle East ahead of the war, it became increasingly clear that something was going to happen. This is fairly ordinary, but we would call that the buy the rumor, sell the news action for the defense stocks. That's a common theme on Wall Street. But I bring this up now because even though there may be an extremely tenuous ceasefire, you should absolutely not be giving up on the defense stock. No, please don't give up on these stocks. Whether or not the ceasefire holds, I think this group remains a winner. Why? Because between the supplies that we've been giving Ukraine for over four years now, the supplies that we've been giving to Israel to defend itself against stepped up attacks in recent years, and now the supplies that we've used ourselves, we're going to have to spend hundreds of billions, literally if not trillions of dollars, building back our weapons stockpiles. Because the United States is supply constrained for so many military hardware items, from fighter jets to missiles, this is a process that's going to take three years. And the orders for munition refills represent significant business for the defense contractors for many years into the future. It's just too dangerous not to do this stuff. So if you buy the ceases, what are the best defense stocks to own? Are they going to give you three pretty straightforward ones ourselves and then let the president pick the last one? As we went anything and everything related to exposure to missiles. From the war in Ukraine to the professional defense of Israel, the latest war in Iran, the common thread has been that we never have enough missiles. There's an asymmetry here, because we're using million dollar missiles to shoot down drones that might cost tens of thousands of dollars or less. That's a long term problem for our military. But in the meantime, we desperately need to make more of these interceptors to keep our troops and our allies safe. That's why I like Lockheed Martin, which is behind some of the defense products, really some of the great defense missile programs. Like the thermal high altitude area defense, you might have seen that as THAAD, that system we've used in the Middle East. And also the HSBMD system for ballistic missile defense. Lockheed does a ton of business selling missiles, some systems to everyone, as well as selling previous generation fighter jets to allies. The other big name in the missile system is RTX, which is behind some of the most popular missile programs. The Patriot missile is still the gold standard, the SM3 interceptors. If you have a rocket head in your way, that's the technology that's going to help you, you really got to hope it's defending you. Now RTX also makes Tomahawk cruise missiles that our government reportedly is running low on. We had so many of them after shooting hundreds of them, I think it's probably more than that, that it ran in the past few weeks. RTX actually had the biggest gains of any prime defense contractor last year. It's up 58 percent, because the company benefits from both a hot defense market worldwide and an even hotter commercial aerospace market. I still like it here. The last idea I'll give you is a little less obvious, but it's one I've chained for a long time, it's L3 Harris Technologies. This has become one of the top defense companies over the last decade, scaling up to a series of acquisitions and mostly operates in pretty quiet, unassuming areas. Communication systems, space, electronic warfare products, intelligence surveillance, reconnaissance programs. I think L3 Harris fits here because about three years ago, in a really stunning move, they bought a company called Aerojet Rocketdyne. It's a major purveyor of propulsion systems, including for missiles. Obviously, L3 Harris is a great company. They've got some counter drone products like Vampire System that's in high demand, but that Aerojet Rocketdyne deal looks better and better now that we need to rebuild practically our entire missile stockpile. You see the theme here, we just don't have enough missiles. Finally, I got one more courtesy of President Trump's post on true social today saying, quote, Palantir Technologies has been in these many, well, PLTR, and print, has proven to have great war fighting capabilities and equipment. Just ask our enemies. Even included the ticker to make things easier for you. Palantir, of course, is the software company that specializes in taking data from various sources and combining that into a single platform to make crucial insights. They got their start doing surveillance and analytics for the Pentagon. Stocks got in Hammond lately, down nearly 40% from its highs last October, thanks to the same AI displacement worries that have crushed the entire software cohort, even though they shouldn't be lumped into it. I don't know if the President's post will be able to get Palantir out of this rut, but it sure doesn't hurt, does it? I find it infuriating that this company keeps getting confused with regular old software companies. This company is a close advisor to CEOs and major companies, but how to change their operations in major ways. I have talked to many of their clients, and they are in awe of how Palantir has helped them. Did it get too expensive? Oh, momentarily yes, but I think it works its way back over time. Here's the bottom line. Even though the defense contractors haven't really been able to rally since the war with Iran got going, that's mainly because they are already flying in the two months leading up to the conflict. At this point, I think the whole group is poised for a major multi-year run. You should be thinking about these purely because we need to replenish most of our missile supplies, but also a lot of other hardware, and that's especially beneficial Lockheed Martin, RTX and L3 Harris. For what it's worth, Trump himself was Palantir, even though it's gotten much harder to own, thanks to those AI displacement features. Let's start with Jerry and Michigan. Jerry? Hi, Jim. Thanks for taking my call. Oracle is well off. It's 52-week high. I purchased some shares in the 1970s, but given its continuous decline, does it make sense right now to add to this position? This is a very, very tough one. It's one of the hardest stocks to value because we don't know exactly what their balance is going to look like. They plunged into the data center build at a time when I think a lot of people were saying, maybe it was not a great call. I want to see the quarter. I know it doesn't happen until June, but I just don't like what I see developing away from Oracle that makes me feel like the guys I want to bank on. That's the problem. I mean, I saw Core Weave today. Those guys are so, so good. Even though that's stuck up a lot, I actually like that one more than I like the world. The defense contractors haven't really been able to rally since the war began, but I think the whole group is poised for a major, multi-year run that I want you to pick one and be in. I really do. Not much more man money, including a round of Kramer's favorite game, and that's, of course, MI Diverse 5, that no one deserves a free pass on this network, not even me. I'm taking a look at some of my recent interviews, including myself on how the conversations went. Of course, all your calls are wrapping up tonight's edition of the Lightning Round, so stay with Kramer. All right. The market's been hard to get a grasp on lately, but I hope it's reminded you that the only way you can keep making money is to stay in the game. In order to be able to stay in the game, you need to be diversified. So that's why we play MI Diverse 5. You know what it is? You give me your top five holdings. I tell you, if you're diversified enough, maybe you need to mix it up a bit. Remember, this is about diversification. We may grade the stocks, but it's really about whether you have too many eggs in one basket. Let's go to Johnny in Louisiana. Johnny, what do you have for me? My five stocks are Bungie Global, Freeport Mac Moran, Huntington Bank, NVIDIA, and Walmart. Jim, am I diversified? Well, I'll tell you, I got to play Scrutiny, but first I want to say this is a portfolio that is doing so well that I am proud to have Johnny on the show. NVIDIA finally breaking out great. This Freeport broke out for 20 points. The Copper Company broke out for 20 points. We got agricultural. We want that. Okay, that's good. Bungie. You also pronounced it right. That was good. Walmart, okay. So Walmart has this incredible run, obviously retail, and it's consolidating terrifically. And I like to own a regional bank. As a matter of fact, at the top of the show, I said the regionals may be where the action is in 2026 because of takeovers, a bank, a tech, copper, ag, retail, perfection. That's what I want to say. Okay, let's go to, why don't we go next to Jen, to Jennifer in Wisconsin. Jennifer. Jim, thank you so much for taking my call. Huge fans. We record your show every day because we're central standards. So we're at work when you're on. So thank you so much for all that you do. Love you. Thank you, Jen. Thank you. I really appreciate that. End of the week. Shout out. I love it. Thank you. Let's go to work. And so, thank you. Yeah, we watch you all the time. So my question is, to add to my portfolio, last year I dabbled in NVIDIA. I bought that a year ago. It did well. So I started to look at more tech, tech stocks, I'm sorry, AI, media, gaming. I wanted to know, and these are long-term holds that I will be doing. That's important for me. Yep. So I did Amazon, Microsoft, Netflix, SAP, SE, and Sony. And I want to know, Jim, am I diversified? All right. Well, we're going to have to do a little switch up here. I know that a lot of people don't want to hear it, but you see, Microsoft, I'm going to say that Microsoft's too close to SAP, all right? Because we're having a lot of problems with both these companies. And I'm going to do something that I actually, is a little sacrilegious. I'm actually going to say we got to get rid of both of them. They're just not trading the way I want them to. Microsoft's doing terribly. SAP doing terribly. But the companies themselves aren't doing that bad. But I want you to be able to preserve some capital. I want to healthcare in here, okay? I want J&J in this portfolio right now ahead of the quarter. And I want a defense company. And here I'm going to put in RTX. I think both are going to be better for you and be much more diversified. You'd have a pharma. You'd have the amazing conglomerate now that Amazon is, because it's retail, but it's also a lot of tech. We're going to let Sony be in. And this isn't, look, I'm not, you know, it's tough because you could say Netflix and Sony are the same. If Sony got movies, Netflix, we're going to call it entertainment company. But I would come to think of it, I would even have to swap out Sony. I'm sorry I have to do so much work. But I'm trying to get people into GE Vernova, GEV, get a little data center. So I'm sorry to have to do such emergency surgery. My wife watches this show, The Pit. Is that like what that is, The Pit? People are nodding that that's The Pit. But Jennifer, I'm thrilled that you watched the show. We do want to make some changes, all right? Now we're going to go to Niko in Illinois. Niko. Jimmy Chilling, our investing club. Jim, I want to give a quick shout out to the Mad Money and investing club teams. They're just for being awesome and for being part of this show. They're just incredible. Nothing more than magnificent. Yes. Thank you for saying that. They work hard. They're like the hardest working people in show biz. Let's go to work. Let's go to work. All right, Jimmy. My stocks are symbolic. It's automation, sales force. I figured Benioff is going to get a data center at some point. Verizon with a heavy dividend. Costco for rolling out more gasoline stations. And GE Vernova exposure to energy and industrial. I like this. Okay, so we got that automation. That's a great, tremendous theme. GE Vernova is the company that's actually powering all the, they have all the turbines. They make the turbines that when you see these NAC gas facilities for data center, that's them. Okay, that's just them. Verizon, I hear you. I'm not as convinced. I saw someone write this piece this week. I'm not as convicted. If you're convicted, you go to jail. If you're convinced, that means you like your doll. I'm not as convinced that I need that yield. I like growth, but I'm willing to go with you on it. Costco, you so right. I mean, it's the cheap gas, not so great for them. High gas, people sign up and get the card. That's how we make our money. Sales force, I don't know about whether Mark's going to be able to get it going to data center. This is going to be a hard on. We know that the long knives are out for software and that's software, software automation, retail, a turbine for data center and just plain old telephone. We used to call it POT. Good job. I like it. Now we're going to go clear to, we're going to go to Eric in Texas, Eric. Jim, happy master's Friday to you. Okay. Yeah. All right. Same, same. Let's see. Let's make some money, Jim. Here are my thoughts. I like that. I like making money. I remember when I was living in my car, I always said, you know what I'm going to do? One day I'm going to make money. No one believed me. They all laughed. They all laughed, but they're not laughing now. That's right. That's right. All right. You ready? Yes. Alphabet, Apple, Metronik, MPLX and Raytheon, Jim. Whoa. And we're diversified. Okay. I'm liking what I see here. One of my absolute favorite oils. Okay. We got alphabet. That is, it's just crushing it. Don't mess with Alphabet. They're crushing it. Data center. They got the YouTube. They're everywhere. Okay. Metronik, a healthcare company. I would actually at this point swap out Metronik for J&J. I think J&J is going to have better growth. Apple, what are we doing? We own it. Don't trade it. And what have we been saying about RTX? Maybe, maybe the best defense company on earth saved Lockade. Good call. Good work. I'm going to go ahead. I mean, oh, come on, one more. Let's do a couple of extra. Let's bust the commercial. That's what they do when you're in trouble. You say, let's bust the commercial. I'm not in trouble. But I got to tell you something. That was a nice course. Were they terrific? Mid-Money's back after the break. Coming up, you've got questions. Cramers got the answers. Get charged up for a fast-fire lightning round. Next. It is time. It's time for the lightning round. This is my favorite. It's called the lightning round. It's called the lightning round. It sounds like it's going to cause a lot of damage. It's the first time I've ever seen a lightning round. It's a lightning round. And then the lightning round is over. Are you ready? Let's keep going. We're going to start with Carolyn in Delaware. Carolyn. Hi. I have a question. In 2013, I lost my father and he passed the stock on to me, which was the RF carpenter technology. I have to tell you, your dad did well. It's an amazing company, Cartec. And I think that you should just hold on to it. I always think of NuQor and then I think of Cartec. Cartec, of course, filled up his own. Let's go to Roz in Texas. Roz. Hey, Booyah Jim. I love your book. I'm a huge fan of the show. Oh, thank you, man. Thank you very much. Yes, yes. I mean, at the time, it's only used to store chairs, you know, but let's get the depth business right here. Equipment chair. So yeah, I misjudged this one is not, you know, I honestly got it. I mean, it's a profitable company. It's down low. It hasn't done anything in the last few months. I have to say, I still like it. I know that it seems gutsy to do that, but I still like to stop. I would actually buy more here. I want to go to Gabe in Nebraska. Gabe. Jim, huge fan here. You look like my, our safety manager. So my money feels safe with you. I'm a 30 to 90 day swing trainer who loves to find those golden nuggets at a foot 52 week low is S O U N Soundtown. See, I don't know. Still need no made money. And it was, look, there was a time at one point when video had a position and never got all excited about it. And now it just makes some money and I'll talk about you, but they ain't making money. So I'm a no go on that one partner. Let's go to Sean and Rhode Island. Sean, thank you for taking my call. Yeah, of course. I'll be the early innings of another offshore drilling super cycle with no, I don't think we are. If you do an offshore drilling, just go by Chevron because no one draws the drills all short like Mike were. And I know that's the oil company not the drill. Or you'd say, well, maybe you should be in slumber J. I say, just go be with Mike. We're now I want to go to Jim in California, Jim. Hey, Jim, thank you for all your hard work. How you doing? I'm pushing on ExxonMobil. ExxonMobil is fine, but Chevron's a better company. I mean, you know, I think about this all the time, honestly, and I just decided just go with, go with work and it's been the right call. I'm just taking with it. And that ladies and gentlemen, is the conclusion of the lightning round. The lightning round is sponsored by Charles Schwab. Coming up, there's no free passes on Wall Street and Kramer's revisiting some of his recent sit downs with CEOs to explain why. Next. My late friend Mark Haynes, the legendary CNBC anchor, almost always said during the break, Reverend Jim Bob of the church of what's happening now, there are no free passes on this show. First thing first, he actually did call me that. I used to be a hedge fund manager and a very active trader. So he pointed out that I would like to stock one week and dislike the next. I talk about price and events and how a stock could go on up high or a catalyst and come on and go on. So we had to move. But the free passes, Mark hated it when someone was interviewed and there were no tough questions asked because he always said the audiences are better. I bring this up because of our interview this morning on Squawk on the Street with Michael Inge Trader, the man behind Quarweave, a company that manages data centers. He just won a huge order from Anthropid, which we know is the be all and end all of these days of AI. After congratulating him, I asked him when his company was going to start making money. They lose a ton. He gave me an answer that I thought was at one point. Talking about how there's so much growth to be had, he couldn't afford to focus on profitability. So later in the interview, I went right back at him on profitability. He said Quarweave could be profitable in three months, but the opportunity was too great. So he planned to keep investing in the business. Actually, I found that answer satisfactory. I think it contributed to the immense run the stock enjoyed today up 11%. As people maybe felt better about the balance sheet because I pushed Michael hard on profitability. And he said, hey, listen, we could be profitable, but we're not. I want to contrast that with how I handle myself the previous day with Brendan Foley, the CEO of McCormick, the spice company. Brendan just done a gigantic deal with Unilever to buy Helmins Manage from them, among other brands. Wall Street clearly thought he paid too much because the stock cratered. Now, I disagreed. I thought it looked like a good deal. But looking back, I think I gave Brendan a free pass because I didn't press him on the cost, which was pretty high. Some would say outrageously high during a year where the packaged food space is under siege. I could hear Mark in my brain saying, how could you run those brands better than Unilever? Why did you give away so much to the company? I mean, these are the questions he would have asked with immediate follow-up if the questions weren't satisfactory. He wasn't there to make friends. He was there to see if the CEO knew what he was doing. I'd like to think that if Mark were alive, he'd look favorably on what we're doing with the CMBC investing club. This morning in our morning meeting that we do at 10.20, we talked about how wrong we've been when the stock of Nike. There was a cogent downgrade this morning from Piper, which talked about a lack of innovation. Perhaps that was because the new CEO, Elliot Hill, an old hand who left Nike after 30 years, is basically reassembling the band at a time when what matters is newness. Now, Jeff Marks, my director of portfolio analysis, asked me about my stand on Nike, a stock I pressed to own because I thought it was incredibly cheap, and Hill could bring back the glory days. I said I was going to give him until October when it would be two years in her to come with many more problems than anyone realized, and the turn is difficult to pull off. But I haven't been early on Nike. I've been raw. I don't deserve a free pass either. In the end, Mark Haines was all about accountability. When I look at all the changes in the media and all the ways people get their news, I realize that many things have become a commodity these days. But you deserve more than a commodity. You deserve answers to tough questions, even if they don't make you friends. After all, this business is not about making friends. It's about making money. I like to say this always will mark it somewhere. I promise to try to find it just for you. Right here on Mad Money, I'm Jim Cramer. See you Monday. 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