Raphael Stevens

Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Olin Corp: “The pricing is not going to hold up. I want you to be careful with that one.”

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CF Industries Holdings Inc: “Fertilizer plays tend to be very volatile. Take out half [your CF Industries shares], play with the rest.”

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JD.Com Inc: “My take is this: I don’t want you there, okay? Too risky.”

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer said Wednesday that investors should buy stock of Petco instead of Chewy after the latter reported a disappointing quarter on Tuesday.
If [Chewy] aren’t turning a profit yet after all these years, I find it impossible to recommend their stock in this environment. If you want to play the humanization of pets, I’d much rather buy the stock of Petco, which has the added advantage of making a lot of money,” the “Mad Money” host said.

CNBC’s Jim Cramer said Wednesday that investors should buy stock of Petco instead of Chewy after the latter reported a disappointing quarter on Tuesday.
“If [Chewy] aren’t turning a profit yet after all these years, I find it impossible to recommend their stock in this environment. If you want to play the humanization of pets, I’d much rather buy the stock of Petco, which has the added advantage of making a lot of money,” the “Mad Money” host said.

Chewy reported a worse-than-expected quarterly loss and revenue on Tuesday, as well as weak revenue guidance for the first quarter and full year. The online pet product retailers’ stock dropped in after-hours trading the same day and was down 16.1% on Wednesday.
Petco stock was down 3.76% on Wednesday. The company earlier this month reported better-than-expected top and bottom lines in the fourth quarter as well as a rosy 2022 revenue guidance.
Cramer posited that Chewy’s poor performance could be due to consumers’ desire for human interaction since staying inside due to Covid. Another reason he prefers Petco to Chewy is that the former offers in-person veterinary services for pets, he added.
Petco has said it plans to grow its roster of full-service veterinary hospitals to 900 from the nearly 200 it had at the end of its fiscal year. Chewy launched virtual veterinary visits for pets in October 2020.
“There’s nothing like going to the store and meeting the vet while you get whatever else you need for your pets, including more pets,” Cramer said.

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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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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer reminded investors to always listen to a company’s conference call before trading on earnings and to avoid after-hours trades.
“One mistake in after-hours trading will wipe you out much faster than a mistake during regular hours when everyone has the same information. There are more bids and offers, and the playing field is more-or-less even,” the “Mad Money” host said.

CNBC’s Jim Cramer reminded investors to always listen to a company’s conference call before trading on earnings and to avoid after-hours trades.
“One mistake in after-hours trading will wipe you out much faster than a mistake during regular hours when everyone has the same information. There are more bids and offers, and the playing field is more-or-less even,” the “Mad Money” host said.

Cramer also listed three examples of companies that reported earnings on Tuesday, leading investors to make after-hours trading decisions with regrettable outcomes.
Here are the three cases Cramer outlined:
Micron
Micron reported better-than-expected earnings and revenue and delivered a rosy outlook in its latest quarterly results. While the stock jumped more than 4% in after-hours trading on Tuesday, it was down 3.52% on Wednesday. 
The catalyst of the drop could have been the company’s comments on the conference call regarding how Covid outbreaks in China impacted production output and how Russia’s invasion of Ukraine could hinder Micron’s supply chain, according to Cramer.

“The Micron quarter was not bad. … But if you tried to chase this stock in after-hours trading at $86, you ended up paying much more than you needed to,” he said.
Lululemon
The athleticwear apparel company reported better-than-expected earnings but fell short on revenue in its latest quarter. Lululemon also announced a $1 billion stock buyback program. The stock climbed around 7% in after-hours trading on Tuesday but also experienced a “flash crash,” Cramer said.
He believes the culprit was confusion around estimates for Lululemon’s total comparable sales and its comparable-store sales, as well as the company’s comments on the conference call that ocean freight delays are causing more dependence on air freight.
Lululemon stock was up 9.58% on Wednesday.
“If you sold the stock down at $345 last night, you’re kicking yourself today,” Cramer said.
RH (formerly Restoration Hardware) 
RH reported an earnings beat and announced a three-for-one stock split for the spring but missed on revenue. Cramer said CEO Gary Friedman’s comments about how soaring inflation and Russia’s invasion of Ukraine are slowing the business spooked shareholders.
RH stock was down 13.33% on Wednesday.
“As much as I like stock splits, none of this stuff matters if the underlying business is struggling,” Cramer said.
Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.
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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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Wednesday advised investors to own secular growth stocks rather than cyclical stocks and to be vigilant in spotting the difference.
“The market is still eager for what is known as secular growth,” which doesn’t rely on economic cycles and likely wouldn’t be hurt by the Federal Reserve raising interest rates, the “Mad Money” host said.

CNBC’s Jim Cramer on Wednesday advised investors to own secular growth stocks rather than cyclical stocks and to be vigilant in spotting the difference.
“The market is still eager for what is known as secular growth,” which doesn’t rely on economic cycles and likely wouldn’t be hurt by the Federal Reserve raising interest rates, the “Mad Money” host said.

“At this point in the business cycle, just about every company wants to be seen as a secular growth story. Approach them with skepticism,” he added. 
Devon Energy, Deere, Tesla and Apple are examples of secular stocks that could be great additions to investors’ portfolios, Cramer said. He added that RH, formerly Restoration Hardware, is an example of a stock that is still sensitive to the business cycle.
RH on Tuesday reported an earnings beat and announced a three-for-one stock split to take place in the spring, but fell short of Wall Street expectations on revenue.
According to Cramer, investors can spot cyclical stocks by observing when “great demand causes a shortage of supply, which then leads to more production, which in turn leads to a supply glut, so the whole edifice collapses under its weight.”
“Don’t cry for the cyclicals, though. You can make fortunes in these things on the way up, provided you know when to jump off. But if you don’t jump off at the right time, the losses can be calamitous,” he said.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.
Disclaimer
Disclosure: Cramer’s Charitable Trust owns shares of Devon Energy and Apple.

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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Oak View Group has acquired 25 acres in Las Vegas and plans to build a sports and entertainment district, including an arena, a hotel and a casino.
Groundbreaking for the estimated $3 billion project is expected to take place next year.
Oak View’s CEO, Tim Leiweke, said the arena would be ready for an NBA team if one ever comes to Vegas.

Las Vegas’ sports scene is about to get more crowded.
Sports executive and entrepreneur Tim Leiweke’s Oak View Group, one of the largest stadium and arena developers in the world, announced Wednesday it has acquired 25 acres in Las Vegas and plans to build a $3 billion sports and entertainment district.

The location is situated about ten minutes from the Las Vegas strip near the Interstate 15 and I-215, and adjacent to the new high-speed rail station. Leiweke says his group plans to build a 20,000-seat arena with a hotel and casino. The arena alone is expected to cost $1 billion.
Groundbreaking for the project is expected to take place next year.
“Las Vegas is the entertainment capital and so what we have to build is the best we have ever built for Las Vegas,” Leiweke told CNBC.

If you build it, will they come?

While the NBA has long had a presence in Vegas through their summer league and the WNBA’s Vegas Aces, it has yet to commit to bringing a team here.
Will this new project be enough to entice a long sought after NBA team to Vegas?

“Should the NBA decide to come and by the way, there’s no certainty or no guarantees that the NBA is ever coming to Vegas, but should they come, we certainly will be NBA ready,” Leiweke said.

Las Vegas came in first in Hotwire’s ranking of best major metropolises for quick getaways amid the pandemic.
Chris Sattlberger/Getty Images

Commissioner Adam Silver has been eying Sin City for years. In 2021, he said that while the NBA is not at the point of expansion, Las Vegas will be in contention to land a franchise when the time comes.
Earlier this month, sports pundit Bill Simmons predicted that Vegas and Seattle will be landing an NBA franchise soon that would be led by Lebron James and Fenway Sports Group. An NBA spokesperson said there was “no truth to it.”
Leiweke’s Oak View Group was also behind Seattle’s new Climate Pledge Arena and the UBS Arena in Elmont, New York. He has been instrumental in shaping dozens of stadiums and arenas around the country, paired with his experience of nearly two decades of leading AEG.
“We understand that this is similar to what we did with Climate Pledge Arena in Seattle before we were able to get the 32nd franchise in the NHL,” Leiweke said, referring to the Kraken.

Vegas as a sports capital

Las Vegas has rapidly expanded beyond betting and boxing to become one of the hottest sports destinations in the world. Professional sports are attracting huge crowds there.
The National Hockey League expanded to the area with the hugely popular Golden Knights playing their first season in 2017. The team played in the Stanley Cup Finals during its second year of existence.
In 2020, the NFL then relocated the Raiders to the $1.9 billion Allegiant Stadium.
On a recent earnings call, MGM’s Bill Hornbuckle highlighted the extra business the Raiders bring to the city. “Half of their seat licenses went to people out-of-town. Sixty-eight percent of those seats on a game day are the out-of-towners, big pickup in millennials,” he said.
The destination is drawing other sports fans with college basketball, the NFL Draft on April 28th and the ultimate attraction – the 2024 Super Bowl.
Other sports are sniffing around, too. Formula One is expected to announce a Las Vegas race for November 2023, sources told CNBC. The Oakland A’s have also been scouting out possible locations in the area as well.
Leiweke hopes his project could be the key to Las Vegas landing an NBA team.
“There’s again, there’s no guarantees that’s going to happen, but should they make a decision to look at Las Vegas, does a billion dollar, brand new arena ultimately help make that decision? Probably so,” Leiweke told CNBC.
While the NBA knows Leiweke well, the league has not had discussions with him about bringing a team to Vegas, a person close to the situation told CNBC.

A new player in town

Leiweke believes his new project will be successful, even without an NBA franchise. It will provide new competition for the five other arenas in town.
“We have to be very driven by music, we have to make sure that we’re looking at other sporting events like the UFC or boxing or wrestling,” Leiweke said. “We have to go out and try to find every big event today that’s not in Las Vegas and bring it today to Las Vegas.”
It will be close to the airport, private jet hangers and the planned Brightline West high speed rail station, which connects Las Vegas to Los Angeles. Developers anticipate the project being a first stop for Las Vegas visitors.
Oak View Group is still very early in the licensing and permitting process. Leiweke anticipates the project could be completed by 2025 at the earliest.

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Chris Rock has yet to publicly address being slapped by Will Smith during the 94th annual Academy Awards ceremony on Sunday.
Fans are banking on the chance that could change Wednesday night.
There are more than a dozen tickets to Rock’s Wednesday shows up for sale on StubHub, with prices ranging from $444 per ticket to $1,705.

Actor Chris Rock speaks onstage during the 94th Oscars at the Dolby Theatre in Hollywood, California on March 27, 2022.
Robyn Beck | Afp | Getty Images

Chris Rock has yet to publicly address being slapped by Will Smith during the 94th annual Academy Awards ceremony on Sunday. Fans are banking on the chance that could change Wednesday night.
Rock is set to perform two back-to-back shows at the Wilbur Theatre in Boston, and the anticipation has sent second-market ticket sales soaring, according to social media posts and resell websites.

StubHub, a ticket exchange and resale company, said it saw 25x the daily sales for Rock’s shows in the days following the Oscar incident, exceeding cumulative sales for the comedian’s tour during the entire month of March.

“At this stage in his tour, on an average day, we’d expect to see a spike in sales in the 24 or 48 hours prior to a show date as last-minute sales roll in – but it is incredibly unusual to see the spike we have experienced,” Mike Silveira, a spokesperson for StubHub said in a statement to CNBC.
The jump in sales was first reported by The Hollywood Reporter.
There are more than a dozen tickets to Rock’s Wednesday shows up for sale on StubHub, with prices ranging from $444 per ticket to $1,705. To be sure, those are just asking prices — it’s unclear if anyone will purchase seats at those levels.
Users reported on social media that ticket prices soared from as low as $40 from before the incident to the triple-digit price tags after the altercation.

Ticket marketplace TickPick said Monday it sold more tickets to see Rock overnight after the slap than it did in the past month combined.
TickPick has three tickets currently available for the 7:30 show and four up for sale for the 10:00 show. Prices range from $800 to $1,100 each.
Ticketmaster’s website says both the 7:30 pm and 10:00 pm shows are sold out. Meanwhile, Vivid Seats currently has four tickets for the 10:00 pm show, with two listed for $768 and two listed for $966.

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President Joe Biden said the U.S. has enough vaccine supply to ensure people ages 50 and older can get their fourth doses. The Centers for Disease Control and Prevention cleared fourth shots for these people Tuesday.
However, Biden said the U.S. will not have enough supply to guarantee free access to vaccines for all Americans in the fall.
The president also unveiled a new government website, covid.gov, where Americans can find out where they can obtain masks, tests, vaccines and treatments.

U.S. President Joe Biden receives a second coranavirus disease (COVID-19) booster vaccination after delivering remarks on COVID-19 in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., March 30, 2022. 
Kevin Lamarque | Reuters

President Joe Biden warned Wednesday that the U.S. will not have enough Covid vaccine shots this fall to ensure free and easy access for all Americans if Congress fails to pass the $22.5 billion in additional funding the administration has requested.
Biden said the U.S. has enough supply to ensure people eligible for fourth shots have access to them. The Centers for Disease Control and Prevention this week recommended an additional Pfizer or Moderna dose for people ages 50 and older, as well as certain younger individuals who have compromised immune systems.

Biden, 79, received his fourth dose on live television after his remarks.
As the country enters a new phase of its vaccination push, the president called on Congress to act to ensure the U.S. has the resources it needs if another wave of infection emerges.
“Americans are back to living their lives again,” Biden said. “We can’t surrender that. Congress please act. You have to act immediately. The consequences of inaction are severe, they will only grow with time.”
Dawn O’Connell, a top official at the Health and Human Services Department, told Congress on Wednesday that the U.S. does not have the doses it needs if a booster campaign for the general population proves necessary in the fall.

“We do have significant concerns about whether we would have enough vaccine if we were to do a general population boost campaign in the fall, particularly if we’re going to need a variant-specific vaccine,” O’Connell told House Select Committee on the Coronavirus Crisis.

“We don’t have any of those doses, nor do we have any funding for those doses,” said O’Connell, assistant secretary for preparedness and response at HHS.
New infections and hospitalizations have plummeted more than 90% from the peak of the winter omicron wave in January. However, the decline of infections has slowed and plateaued in recent days as a more contagious omicron subvariant, BA.2, has become the dominant version of Covid in the U.S. BA.2 has already caused new waves of infection in Europe and China.
White House chief medical advisor Dr. Anthony Fauci said earlier this month that BA.2 will likely cause infections to rise in the U.S. He does not expect another surge in cases.
The Institute for Health Metrics and Evaluation in Washington state is projecting that infections will continue to fall through the spring and summer. However, Ali Mokdad, an epidemiologist at IHME, said another surge could happen in the fall as immunity from the vaccines wanes and people move inside during the colder weather.
Democrats and Republicans in Congress have failed to reach a bipartisan agreement on $15 billion in Covid funding, a sum lower than the White House request. Republicans want to cover any new spending by cutting funds already appropriated for state and local governments. Democrats rejected that demand.
Negotiations are ongoing in the House and Senate to find a compromise.
Biden also warned the U.S. will not have the money to surge testing, monoclonal antibody treatments and antiviral pills if another Covid wave sweeps the U.S.
The president also unveiled a new government website, covid.gov, where Americans can find out where they can obtain masks, tests, vaccines and treatments.

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