Raphael Stevens

Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Wednesday warned investors against selling off all their holdings, even as the markets continue to roil.
“No matter how scared you get, most people aren’t nimble enough to get out of this market and then get back in again at a good price. That’s why it’s a mistake to sell everything even as the market’s gotten more difficult,” the “Mad Money” host said.
Cramer also noted that even if an investor plans to sell everything and reenter the market later, nailing down the right timing will be incredibly tough.

CNBC’s Jim Cramer on Wednesday warned investors against selling off all their holdings, even as the markets continue to roil.
“No matter how scared you get, most people aren’t nimble enough to get out of this market and then get back in again at a good price. That’s why it’s a mistake to sell everything even as the market’s gotten more difficult,” the “Mad Money” host said.

The Dow Jones Industrial Average slid 0.42% on Wednesday. The S&P 500 tumbled 0.97% while the Nasdaq Composite fell 2.22%.
Cramer highlighted several points to argue that investors shouldn’t feel pressured to empty their portfolios:

There is no “grave systemic risk to the economy or the country, save the possibility of nuclear war,” he said.
Even if the Federal Reserve raises interest rates dramatically, which could negatively affect people’s assets, homes and other properties, “remember that most people don’t own any of those,” Cramer said.
The host also noted that even if an investor plans to sell everything and reenter the market later, nailing down the right timing will be incredibly tough.

Cramer added that there is currently a bull market and a bear market. As the Fed tries to tamp down inflation, the consumer-packaged goods and drug stocks are performing well while tech stocks are not, he said. 
Nevertheless, he advised investors not to panic. Cramer on Tuesday told investors to sell some of their stocks, but not all.
“If people come on TV and tell you to sell everything … . You better be real careful,” Cramer said. “Even if they scare you out of your wits, nine times out of 10 you should strap yourself to the mast. Stay the course.”

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer said Wednesday that the market is poised to bottom and rally again by Monday, leaning on analysis from Option Pit founder and volatility expert Mark Sebastian.
“The charts as interpreted by Mark Sebastian say we’re currently in the middle of a short-term volatility spike, and once it’s over, we’re going to return to the post-March bottom environment where stocks can easily go higher,” the “Mad Money” host said.

CNBC’s Jim Cramer said Wednesday that the market is poised to bottom and rally again by Monday, leaning on analysis from Option Pit founder and volatility expert Mark Sebastian.
“The charts as interpreted by Mark Sebastian say we’re currently in the middle of a short-term volatility spike, and once it’s over, we’re going to return to the post-March bottom environment where stocks can easily go higher,” the “Mad Money” host said.

Cramer first explained the relationship between the S&P 500 and the CBOE Volatility Index, also known as a fear gauge.
“Because the volatility index reflects fear, it’s normal for it and the S&P to move in opposite directions,” Cramer said, adding that that’s what happened Wednesday. “It’s when they move in the same direction that you have to start asking questions about the sustainability of the market’s trajectory.”
The Dow Jones Industrial Average slid 0.42% on Wednesday while the S&P 500 dropped 0.97%. The Nasdaq Composite decreased 2.22%.
At the beginning of 2022, the S&P dropped while the VIX went almost straight up, Cramer said, adding that the VIX didn’t take out its previous lows even as the S&P temporarily went higher.

Arrows pointing outwards

“From there, the volatility index was off to the races. While the S&P did recover in the last week of January, it rolled over again in February. More importantly, from Sebastian’s perspective, is the fact that the VIX confirmed this negativity. With every new low for the S&P, the VIX went higher, just like it should,” Cramer said. 

Arrows pointing outwards

In contrast, Sebastian noted that on March 14, the S&P edged incredibly close to its previous low from March 8, but the VIX rallied to much lower levels on the 14th than it did on the 8th, Cramer said. He added that that means investor fears were going down.

Arrows pointing outwards

Cramer said that when examining what the charts show about the market more recently, Sebastian believes there’s “more room to run higher.” Cramer explained how the S&P 500’s and VIX’s recent movements support Sebastian’s point.
“The S&P 500’s most recent high was 4,631 back on March 29th. At the time, the VIX closed at 18.90. While the S&P failed to touch that same level at its highs on Monday, notice that the VIX hit a lower level there. … The level it hit was 18.57. In other words, the market went down, but the VIX also went down,” Cramer said.
“That means despite the action today, the fear is continuing to subside,” he added.
Sebastian believes the market will start rallying again by Monday, even though the S&P likely won’t reach incredibly high new levels, Cramer said.
“In his view, we’re in the midst of a two-to-three day VIX spike. … The kind of move that’s incredibly fast, but tends to be short-lived,” Cramer said. “He does think [the S&P] could see 4,700 again sometime, maybe potentially before Easter.”
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Disclaimer

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Monday – Friday, 6:00 – 7:00 PM ET

Loews Corporation is a stock investors should be watching even if analysts aren’t, CNBC’s Jim Cramer said Wednesday.
“Loews Corporation may not get any love from the analyst community, but I think it’s a hidden gem that should work perfectly in an increasingly tough market,” the “Mad Money” host said. 

Loews Corporation is a stock investors should be watching even if analysts aren’t, CNBC’s Jim Cramer said Wednesday.
“Loews Corporation may not get any love from the analyst community, but I think it’s a hidden gem that should work perfectly in an increasingly tough market,” the “Mad Money” host said. 

“The fact that it’s managed to fly under the radar simply means that you’re getting a chance to buy it for less than it should be worth,” he said.
Loews stock rose 0.09% on Wednesday to $63.36, still below its 52-week high of $66.00.
Cramer highlighted the corporation’s four subsidiaries and what he likes about each one.

CNA Financial: “CNA Financial is the foundation of Loews — it’s like a cash machine that constantly throws off money,” he said.
Boardwalk Pipelines: Cramer said that the U.S’ shortage of natural gas pipelines, along with the location of Boardwalk’s pipelines, which are around the Gulf Coast, are huge pluses for Loews. 
Loews Hotels: “This business has had a tough time over the past two years — they’ve been in bear market — but I think that’s going to change. … People have been cooped up for too long. They want to take real vacations again,” Cramer said.
Altium Packaging: “I think they’ve got a solid long-term story. … I bet it’s got a bright future,” he said.

Cramer also said that Loews’ actions make it clear the company believes that its stock is undervalued, which makes it an even more attractive buy.
Loews bought back 21.1 million shares of the company’s common stock in 2021 totaling $1.1 billion, according to its letter to shareholders for that same year.

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Disclaimer

Questions for Cramer?Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer’s world? Hit him up!Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the “Mad Money” website? [email protected]

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The NFL, other major sports leagues, players unions and team owners are leading the latest round of investment in Fanatics, the online sports-platform company.
The latest investment totals $1.5 billion, with the NFL kicking in the largest portion at $320 million.
With the growth comes speculation of a potential IPO, but Fanatics isn’t showing its hand: While it “is clearly an available option to us, there is no update on any timeline,” a company spokesperson said.

A detailed photo of the Fanatics apparel displayed at NFL Hospitality during the 2018 NFL Annual Meetings at the Ritz Carlton Orlando, Great Lakes on March 26, 2018 in Orlando, Florida.
Mark Brown | Getty Images

The NFL, other major sports leagues, players unions and team owners are leading the latest round of investment in Fanatics, the rapidly growing sports online-platform company.
The latest investment totals $1.5 billion, with the NFL kicking in the largest portion at $320 million. Fanatics is valued at $27 billion.

The NFL Players Association also made an investment. Other investors include Major League Baseball and its players union, as well as the National Hockey League.
Joseph Tsai, the Alibaba co-founder and Brooklyn Nets owner, and the Qatar Investment Authority, owner of the Paris Saint-Germain soccer team, also are investors in this latest round.
The investment continues the trend of leagues and players’ associations wanting a slice of the Fanatics pie. Similarly, the NBA recently took a 3% stake in SportRadar.
Florida-based Fanatics was founded in 2011 by Michael Rubin, co-owner of the Philadelphia 76ers and New Jersey Devils. It now has exclusive licensing deals with the NFL, NHL, NBA, MLB and colleges and universities to make and sell official team merchandise.
Earlier this year, the company expanded beyond its merchandise base, acquiring Topps trading cards for $500 million. That Fanatics’ entity is now valued at $10 billion after a $350 million round of funding last September.

Leagues, players’ associations and team owners now own approximately 10% of Fanatics. The NFL and MLB first invested $150 million in Fanatics in 2017. CNBC previously reported other investors in the most recent round of funding include Fidelity, BlackRock and Michael Dell’s MSD Partners.
“This investment not only reflects our experience having worked with Michael [Rubin] and the team at Fanatics for a number of years but our belief that the company is building a business that is new, unique and valuable,” Brian Rolapp, the NFL’s chief media and business officer, told CNBC regarding the latest investment round.

Last year, Fanatics launched Candy Digital, which sells non-fungible tokens, or NFTs. The company also owns half of the hat retailer Lids Sports Group, which it acquired in 2019.
Fanatics is now eyeing the sports-gambling space, with the launch of an online sportsbook under the direction of former FanDuel CEO Matt King.
With the growth comes speculation of a potential initial public offering, but Fanatics isn’t showing its hand: While it “is clearly an available option to us, there is no update on any timeline,” a company spokesperson said. “Our focus remains on expanding the business and building the leading digital sports platform over the next decade and beyond.”

Fanatics is a two-time CNBC Disruptor 50 company. Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at private companies like Fanatics that continue to innovate across every sector of the economy.

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Six attorneys general told NFL Commissioner Roger Goodell they had “grave concerns” about reports of an alleged hostile workplace culture toward women.
The warning stems from reports in The New York Times based on claims by more than 30 former employees of the NFL, which is based in New York City.
The NFL, in a statement responding to the letter, said it is committed to keep its workplaces free from harassment and discrimination.

Roger Goodell
Catalina Fragoso | USA TODAY Sports | Reuters

Attorneys general of six states warned the National Football League on Wednesday to take “swift action” in responding to recent allegations a “workplace culture that is overtly hostile to women,” or face investigations and possible legal charges.
The coalition told NFL Commissioner Roger Goodell in a letter that it had “grave concerns” about reports of how female employees of the league are treated.

“Our offices will use the full weight of our authority to investigate and prosecute allegations of harassment, discrimination, or retaliation by employers throughout our states, including at the National Football League,” New York Attorney General Letitia James and her counterparts from Illinois, Minnesota, Massachusetts, Oregon and Washington said in their letter.

The warning stems from reports in The New York Times in February based on claims by more than 30 former employees of the NFL, which is based in New York City.
Among other things, the female former employees told The Times about being made to repeatedly watch a 2014 video of ex-NFL player Ray Rice punching and knocking out his fiancee, “with commentary by coworkers that the victim had brought the violence on herself,” the letter noted.

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Women also detailed how they were asked to reveal if they also had been victims of domestic abuse.
“Other women described experiencing unwanted touching from male bosses, attending parties whereprostitutes were hired, being passed over for promotions based on their gender, and beingpushed out for complaining about discrimination,” said the letter to Goodell.

“In 2014, we watched in horror as the video of [former NFL player] Ray Rice brutally attacking his fiancé was made public,” the letter said. “In the aftermath of that disturbing incident and too many others, the NFL promised to do better, take gender violence seriously, and improve conditions for women within the league.”
The attorneys general added: “We now know that they did nothing of the sort.”
The NFL, in a statement responding to the letter, said it is committed to keep its workplaces free from harassment and discrimination.
“We have made great strides over the years in support of that commitment, but acknowledge that we, like many organizations, have more work to do,” the league said.
“We look forward to sharing with the attorneys general the policies, practices, protocols, education programs and partnerships we have implemented to act on this commitment and confirm that the league office and our clubs maintain a respectful workplace where all our employees, including women, have an opportunity to thrive,” the league added.

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Denim retailer Levi Strauss reported fiscal first-quarter earnings and revenue that topped analysts’ estimates.
The company sold more of its jeans and T-shirts at higher price points, often directly to customers.
Levi reaffirmed its forecast for fiscal 2022, assuming no significant worsening of inflationary pressures or closures of global economies.
Levi CEO Chip Bergh told CNBC that consumers have yet to trade down for less expensive apparel.

An employee holds a shopping bag while ringing up a customer at the Levi Strauss & Co. flagship store in San Francisco, March 18, 2019.
David Paul Morris | Bloomberg | Getty Images

Denim retailer Levi Strauss & Co. on Tuesday reported fiscal first-quarter earnings and revenue that topped analysts’ estimates as it sold more of its jeans and T-shirts at higher price points, often directly to customers.
Levi also reaffirmed its forecast for fiscal 2022, assuming no significant worsening of inflationary pressures or closures of global economies. It took into account any hit from its recent decision to temporarily suspend business in Russia, which represents roughly 2% of its total sales.

The retailer has yet to see consumers trade down for less expensive apparel, even as everything from gasoline prices to grocery bills surge, Levi CEO Chip Bergh told CNBC in a phone interview. And still, as the company has raised prices on some items to offset other expenses within the business, consumer demand has remained strong, he added.
To be sure, Bergh said Levi is keeping a close eye on consumer demand, knowing that projections of a looming recession have been growing among economists. “We don’t have our head in the sand,” the CEO said. “If we see [demand] starting to get wobbly, we will take the appropriate action.”
Levi shares rose around 1.5% in extended trading, after closing the day down 1.5%.
Here’s how Levi did for the three-month period ended Feb. 27 compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:

Earnings per share: 46 cents adjusted vs. 42 cents expected
Revenue: $1.59 billion vs. $1.55 billion expected

Levi reported net income of $196 million, or 48 cents per share, compared with net income of $143 million, or 35 cents a share, a year earlier. Excluding one-time items, it earned 46 cents a share, better than the 42 cents that analysts had been looking for.

Revenue rose 22% to $1.59 billion from $1.31 billion a year earlier. That topped expectations for $1.55 billion.
Levi said it took a roughly $60 million hit to sales due to supply chain constraints during the latest period. Its global direct-to-consumer sales rose 35% from the prior-year period, and wholesale revenue was up 15%.
While Levi still partners with big-box retailers such as Target and department stores like Macy’s to sell its jeans, the company has increasingly pushed customers toward its own brick-and-mortar stores and website. Not only can those transactions be more profitable, but it allows Levi to build stronger relationships with shoppers and collect more insights on their browsing habits. Direct-to-consumer represented 39% of total sales in the quarter, up from 38% in the previous period and 36% a year ago, the company said.
Broken down by region, sales climbed 26% in the Americas, rose 13% in Europe, and grew 11% in Asia on a year-over-year basis.
Levi reaffirmed its outlook for fiscal 2022, which calls for revenue to grow between 11% and 13% year over year. Analysts have projected an increase of 11.8%.
The retailer still sees its annual per-share earnings ranging between $1.50 and $1.56, compared with analysts’ outlook of $1.54.
“The denim category is growing in a low-double-digit [rate] relative to where it was before pandemic,” Chief Financial Officer Harmit Singh told CNBC, saying “the world continues to become a lot more casual.”
Singh added: “We’ve seen demand in March maintain the momentum, and that gives us confidence about the rest of the year.”
Find the full earnings press release from Levi here.

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