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    FedEx CEO says the company will make ‘an enormous effort’ toward AV trucks in June

    Monday – Friday, 6:00 – 7:00 PM ET

    FedEx chief executive Frederick Smith told CNBC’s Jim Cramer on Tuesday that the company will make big strides in its autonomous vehicle efforts this summer.
    “You’ll see in late June an enormous effort towards autonomous trucks that move over the highway,” Smith said in an interview on “Mad Money.”

    FedEx chief executive Fred Smith told CNBC’s Jim Cramer on Tuesday that the company will make big strides in its autonomous vehicle efforts this summer.
    “You’ll see in late June an enormous effort towards autonomous trucks that move over the highway. Not in the city, where we think our drivers are better for the pickup and delivery of the long-distance vehicles,” Smith said in an interview on “Mad Money.”

    “We are a long way down the road to doing that. But we’re not going to get rid of our drivers. They’ll do the pick up and delivery and the dredge, if you will, and over time, I’m very confident autonomous trucks are on the way,” he added.
    FedEx announced it was testing autonomous delivery trucks in China in late 2021 through a collaboration with Neolix, a self-driving logistics company based in the country. FedEx has previously launched initiatives towards autonomous vehicle usage, collaborating with companies including Nuro, DEKA Development Research, Aurora and Paccar.
    The company announced Monday that Smith will become executive chair and Ray Subramaniam, current chief operating officer, will succeed him. The leadership change will take place on June 1. Smith founded FedEx in 1973 while Subramaniam joined the company in 1991.
    FedEx stock rose 3.7% on Tuesday following the news.
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    Disclaimer

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    Yeti is an investable stock for these three reasons, Jim Cramer says

    Monday – Friday, 6:00 – 7:00 PM ET

    Investors should consider investing in Yeti Holdings now that the stock is much more affordable than it usually is, CNBC’s Jim Cramer said Tuesday.
    “When the market finds its footing after a brutal decline … you want to look for potential opportunities in previously expensive stocks that have suddenly become a lot cheaper,” the “Mad Money” host said. “That’s Yeti Holdings.”

    Investors should consider investing in Yeti Holdings now that the stock is much more affordable than it usually is, CNBC’s Jim Cramer said Tuesday.
    “When the market finds its footing after a brutal decline … you want to look for potential opportunities in previously expensive stocks that have suddenly become a lot cheaper,” the “Mad Money” host said. “That’s Yeti Holdings.”

    Yeti stock rose 7.37% on Tuesday to $61.30, still below its 52-week high of $108.82.
    Here are three more reasons Cramer believers investors should consider buying shares of Yeti:

    Yeti is a strong brand that can get away with raising prices. “They put through some modest price increases earlier this year, and some analysts argue that they’ve got more room to raise pricing if cost inflation continues to be a problem,” Cramer said.
    It’s camping season, which means good business for Yeti. “The stock tends to experience a seasonal rally in the second and third quarters as people emerge from hibernation and start doing things outdoors,” he said.
    Yeti stock is currently cheap. “The last time Yeti was this cheap? April of 2020, before it embarked on an epic 18-month rally,” Cramer said.

    Cramer also said that the outdoor products manufacturer fits his mantra of companies that make real earnings, products and value for shareholders.
    “When we go dumpster diving to find some rare winners for you, we want broken stocks of intact companies, not broken stocks of broken companies. In other words, the underlying business needs to be sound. … Yeti is perfectly sound,” he 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
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    National Football League owners vote to change playoff overtime rule to allow possessions for both teams

    National Football League owners voted to amend the playoff overtime rule to allow both teams to possess the ball regardless of whether a touchdown is scored on the first possession.
    The previous rule came under renewed scrutiny after Kansas City defeated Buffalo by scoring a touchdown on the first possession in overtime of their classic playoff game in January.
    NFL head coaches were divided on the change.

    PALM BEACH, Fla. – NFL owners voted Tuesday to amend the playoff overtime rule in order to allow both teams to possess the ball regardless of whether a touchdown is scored on the first possession of the extra period.
    The change came over two months after the 2021 NFL playoffs, which saw six of the final seven games decided by three points or less. The previous rule came under renewed scrutiny after the Kansas City Chiefs defeated the Buffalo Bills by scoring a touchdown on the first possession in overtime of their classic playoff game this past winter.

    Under the previous playoff overtime rule, each team was allowed to possess the ball in extra play unless the club that received the opening kickoff scores a touchdown. If the opening drive resulted in a field goal, the opposing team would get an opportunity to match the score or win with a touchdown. If there was a turnover, the first team to score would win. This rule is still in effect for the regular season.
    The NFL last modified the regulation, called Rule 16, in March 2012, when the league expanded the format from the playoffs to the regular season.
    Since 2010, Atlanta Falcons CEO Rich McKay – chairman of the NFL’s Competition Committee – noted there have been 12 postseason overtimes and the team winning coin toss has won 10 times. Seven of those victories came on the first drive, including the Kansas City Chiefs’ win over the Bills in January.
    A proposal from the Indianapolis Colts and Philadelphia Eagles sought to have both teams should possess the ball in overtime, regardless of whether a touchdown is scored on the first possession.

    What coaches think

    While more than a mere majority of league owners agreed with a change – 24 of 32 owners needed to OK it – NFL head coaches were divided on changing overtime. (The final vote was 29-3.)

    Asked about a rule change on Tuesday, Super Bowl-winning Los Angeles Rams head coach Sean McVay said: “I don’t think there would be anybody that would disagree that (Bills quarterback) Josh Allen probably deserved [another] possession in the playoffs. And I know [Chiefs coach Andy Reid] feels the same way.”
    But Baltimore Ravens head coach John Harbaugh disagreed with further modifications. “I’m not for them. I don’t think adding plays at the end of the game is the answer,” he said. “I don’t think extending games is the answer.”
    Washington Commanders head coach Ron Rivera labeled himself a “traditionalist” but added he was “opened-minded going into these discussions” on Tuesday. San Francisco 49ers head coach Kyle Shanahan didn’t have a strong opinion on the matter.
    “I’ve never had too big of an issue with it,” Shanahan said. “I’ve lost games where we haven’t gotten the ball, but we’ve also been able to hold people to a field goal and come back and win on a touchdown. So, I really don’t have a strong opinion on which way it goes.”

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    Jim Cramer cautions investors against false optimism after latest Russia-Ukraine peace talks

    Monday – Friday, 6:00 – 7:00 PM ET

    Investors should be careful not to make market decisions based on Russia-Ukraine peace talks but should also refrain from being too pessimistic, CNBC’s Jim Cramer said Tuesday.
    He also offered the S&P 500 short-range oscillator, one of his favorite market indicators, as a trustworthy basis for making investing decisions.

    Investors should be careful not to make market decisions based on Russia-Ukraine peace talks, but should also refrain from being too pessimistic, CNBC’s Jim Cramer said Tuesday.
    “I want to be optimistic about the negotiations,” but Russia’s previous pledges of peace that it didn’t follow through with make that difficult, the “Mad Money” host said.

    Russia said Tuesday that it would reduce its attacks in Ukraine’s capital of Kyiv and in Chernihiv as the two countries met for peace talks in Istanbul. It has broken similar vows in the past.
    Cramer added that he still has grievances against bearish analysts who “scared [investors] into selling near the lows or kept [them] on the sidelines,” decrying those who warned the Federal Reserve’s upcoming interest rate hikes would have disastrous effects and pointed to the partly inverted yield curve on Monday, which could be forecasting a recession.
    Meanwhile, the Dow Jones Industrial Average gained 0.97% on Tuesday and the S&P 500 rose 1.23%. The Nasdaq Composite increased 1.84%. The Dow and S&P 500 gained for the fourth consecutive session.
    Pointing to recent market rallies, Cramer said the bearish analysts’ predictions have proven to be false. He also offered the S&P 500 short-range oscillator, one of his favorite market indicators, as a trustworthy basis for making investing decisions.
    “I have a doctrinaire approach to this indicator: When it’s too negative, you have to hold your nose and buy something because it means the market’s a coiled spring,” he said.

    “That same oscillator hit a very positive number today. … My discipline says it’s time to pull in your horns,” he said. “We still want to buy some stocks after the oscillator settles down, but we’re chiefly interested in the oils and the agriculture names, which have been hit by” news of Russia-Ukraine peace negotiations, he added.
    Cramer also said investors should generally practice discipline when maintaining their portfolios.
    “One of the most important elements of managing your own money is getting a great cost basis … the average price you paid for your stock. Most of the problems I see in investing often stem from getting a bad basis — buying too high, which regularly leads to many people selling too low,” he said. “I want to produce the opposite results.”

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    Under unprecedented sanctions, how is the Russian economy faring?

    IN RESPONSE to Russia’s invasion of Ukraine, the West launched an economic war. America banned the sale of a wide range of goods to Russia; big companies pulled out by the dozen; and a number of countries together froze 60% of the central bank’s international reserves. The idea was to send Russia’s economy into free fall, punishing President Vladimir Putin for his aggression. In the week after the invasion the rouble fell by a third against the dollar, and the share prices of many Russian companies collapsed.Is the West’s strategy still going to plan? The chaos in Russian markets seems to have subsided. Since its low in early March the rouble has jumped, and is now approaching its pre-war level (see chart 1). The main benchmark of Russian stocks plunged by a third, but has since recovered a chunk of its losses. The government and most firms are making payments on foreign-currency bonds. A run on banks that saw nearly 3trn roubles ($31bn) withdrawn came to an end, with Russians returning much of the cash to their accounts.A battery of policies has helped stabilise the markets. Some are orthodox. The central bank has raised interest rates from 9.5% to 20%, encouraging people to hold interest-bearing Russian assets. Other policies are less conventional. The government has decreed that exporters must convert 80% of their foreign-exchange proceeds into roubles. Trading on the Moscow stock exchange has become, to use the central bank’s euphemism, “negotiated”. Short-selling is banned, and non-residents cannot offload stocks until April 1st. The real economy, though, is in some ways the mirror image of the financial one: healthier than it seems at first glance. A weekly measure of consumer prices shows that they have risen by more than 5% since the beginning of March alone. Many foreign firms have pulled out, cutting the supply of goods, while a weaker currency and sanctions have made imports more expensive. But not everything is surging in price. Vodka, largely produced domestically, costs only a bit more than it did before the war. Petrol costs about the same. And though it is early days, there is little evidence yet of a big hit to economic activity.According to an estimate using internet-search data produced by the OECD, a rich-country think-tank, Russia’s GDP in the week to March 26th was about 5% higher than the year before (see chart 2). Other “real-time” data gathered by The Economist, such as electricity consumption and railway loadings of goods, are holding up. A spending tracker produced by Sberbank, Russia’s largest lender, is slightly up year on year. Part of this reflects people stockpiling goods before prices rise: spending on home appliances is especially strong. But spending on services has fallen only a bit, and remains far healthier than it was during much of the pandemic. Russia still seems sure to enter a recession this year. But whether it ends up faring as badly as most economists predict—the wonks are pencilling in a GDP decline of 10-15%—depends on three factors. The first is whether ordinary Russians start worrying about the economy as the war drags on, and reduce spending—as happened in 2014, when Russia invaded Crimea. The second is whether production eventually grinds to a halt as sanctions block firms’ access to imports from the West. Russia’s aviation sector looks particularly vulnerable, as does the car industry. Yet many big businesses that started during Soviet times are used to operating without imports. If any economy could come close to coping with being cut off from the world, it would be Russia’s. The third and most important factor relates to Russia’s fossil-fuel exports. Despite the sheer number of sanctions imposed on it, Russia is still selling about $10bn-worth of oil a month to foreign buyers, equivalent to a quarter of its pre-war exports; revenues from the sale of natural gas and other petroleum products are still flowing in, too. This provides a valuable source of foreign currency with which it can buy some consumer goods and parts from neutral or friendly countries. Unless that changes, the Russian economy may stumble on for some time yet. ■Read more of our recent coverage of the Ukraine crisis More

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    Cramer's lightning round: Village Farms is not a buy

    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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    FMC Corp: “I say, buy [agriculture stocks] when the rain is coming down.”

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    SIGA Technologies Inc: “It’s actually an inexpensive company that makes money. … I don’t mind inexpensive.”

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    Rocket Companies Inc: “No, because when the Fed raises rates, you can’t own Rocket mortgage, plain and simple. It just doesn’t work.”

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    Stock futures edge lower after Dow and S&P 500 notch a fourth straight day of gains

    U.S. equities futures dipped slightly Tuesday evening after stocks extended their rally in the previous session, even as fears of an inverted yield curve sparked recession concerns and investors continued watching developments play out in Ukraine.
    Futures tied to the Dow Jones Industrial Average slipped by 27 points, or 0.08%. S&P 500 futures fell 0.1% and Nasdaq Composite futures lost 0.1%.

    In regular trading, the Dow added 338 points, or 0.97%, and the S&P 500 rose 1.23% – both for their fourth straight day of gains. The Nasdaq Composite climbed 1.84%, and now sits less than 10% from its record.
    “The market’s now up almost 10% in the last 10 days, so we’ve had a pretty incredible rally in a very short time with not a whole lot of news change except that we actually have more rate hikes priced into the market,” Stephanie Lang, chief investment officer at Homrich Berg, told CNBC.
    “This has been a nice ride,” she added. “But I wouldn’t get too comfortable for the rest of this year, because I think we’re going to continue to see a lot of volatility.”
    All eyes were on the bond market Tuesday as the U.S. 5-year and 30-year Treasury yields inverted Monday for the first time since 2016. Historically, this inversion has been a sign of a coming recession, though it hasn’t been a good indicator of when the recession would come. Still, investors largely shrugged off the event.
    On Tuesday, the main yield spread traders watch, that between the 2-year and the 10-year rate, came close to inverting but stayed positive.

    “The big talk right now is that at any given point in time, recession can be on the horizon,” Lang said. “Typically, you won’t see a recession for an average of 17 months once a yield curve inverts. Our antennas are up that recession risk is heightened; that doesn’t necessarily mean that there’ll be one this year, though next year is more of a concern for us.”

    Stock picks and investing trends from CNBC Pro:

    Investors also continued to monitor the war in Ukraine. Hope for a potential ceasefire helped investor sentiment, after Russian Deputy Defense Minister Alexander Fomin said the country will “drastically” reduce military activity near the Ukrainian capital Kyiv.
    West Texas Intermediate, the U.S. oil benchmark, briefly fell below $100 per barrel before rebounding.
    Investors will be watching economic data scheduled to be released Wednesday, including economic growth data, home sales data and ADP’s national employment report.
    Esther George, president of the Federal Reserve Bank of Kansas City, will speak to the Economic Club of New York.
    BioNTech and Five Below will report earnings before the opening bell.

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    Businesses oppose Florida's 'Don't Say Gay' ban on discussion of LGBTQ issues in public schools

    The Florida measure rocketed to the forefront of national politics in recent months, drawing sharp criticism from the LGBTQ community, Hollywood, Democrats and the White House.
    Its passage comes as a flurry of anti-LGBTQ bills advance in several states, leaving advocates fearful that already marginalized groups are at risk of harm. 
    DeSantis said he backed the bill because parents’ rights are “increasingly under assault around the nation, but in Florida we stand up for the rights of parents and the fundamental role they play in the education of their children.”

    Revelers celebrate on 7th Avenue during the Tampa Pride Parade in the Ybor City neighborhood on March 26, 2022 in Tampa, Florida. The Tampa Pride was held in the wake of the passage of Florida’s controversial “Don’t Say Gay” Bill. 
    Octavio Jones | Getty Images

    Florida Gov. Ron DeSantis on Monday signed legislation banning the discussion of sexual orientation or gender identity in the state’s public schools, a controversial policy that opponents dubbed the “Don’t Say Gay” bill. 
    The Walt Disney Company immediately condemned the legislation and vowed to help get it repealed. Opposition among business leaders has been slowly building momentum this month as the bill moved through Florida’s Republican-controlled Senate. Starbucks, Nordstrom and Pinterest are among 45 companies that earlier this month quietly signed on to a two-year-old petition broadly condemning anti-LGBTQ legislation.

    The newest signatories include retail companies Target, Mattel and Lululemon, according to the latest version of the petition published by advocacy groups Human Rights Campaign and Freedom for All Americans. Sony Interactive Entertainment, Deutsche Bank USA, Hyatt Group Hotels & Resorts, Yahoo! and Shutterstock also added their names in recent weeks to the petition, which has more than 200 signatures. 
    The Florida measure rocketed to the forefront of national politics in recent months, drawing sharp criticism from the LGBTQ community, Hollywood, Democrats and the White House. Its passage comes as a flurry of anti-LGBTQ bills advance in several states, leaving advocates fearful that already marginalized groups are at risk of harm. 
    DeSantis said he backed the bill because parents’ rights are “increasingly under assault around the nation, but in Florida we stand up for the rights of parents and the fundamental role they play in the education of their children.”
    He said parents also “should be protected from schools using classroom instruction to sexualize their kids as young as 5-years-old,” according to a statement released by his office.

    U.S. Florida Governor Ron DeSantis speaks at the Conservative Political Action Conference (CPAC) in Orlando, Florida, February 24, 2022.
    Octavio Jones | Reuters

    Formally titled the “Parental Rights in Education” bill, the new law takes effect in July. It prohibits classroom “discussion about sexual orientation or gender identity” in kindergarten through grade three or “in a manner that is not age-appropriate.”

    The bill also gives parents the right to pursue legal action if they believe a school’s procedures are infringing on their “fundamental right” to make decisions related to the “upbringing and control of their children.”
    DeSantis, the bill’s sponsors and other Republicans have claimed that the measure is necessary to give parents oversight over what students learn and discuss at school, calling it “inappropriate to be injecting those matters like transgenderism in a kindergarten classroom.”
    But opponents have argued that the Florida bill is vaguely worded and that it could give way to lawsuits from parents who believe any conversation about LGBTQ people or issues is inappropriate. 
    LGBTQ advocates slammed the new law. 
    Human Rights Campaign said DeSantis “once again placed Florida squarely on the wrong side of history, and placed his own young constituents directly in harm’s way — and he has done this for no other reason than to serve his own political ambitions,” according to a statement released by the group.
    “We’re staring at a new reality where LGBTQ+ students may wonder if they’re allowed to even acknowledge their own sexuality or gender identity; a reality where young people with LGBTQ+ family members may be forced to remain silent while others can speak freely; a reality where LGBTQ+ school staff may be forbidden from so much as mentioning their loved ones,” interim President Joni Madison said in the statement. 
    The human rights group also pointed to data showing that LGBTQ youth already face “real threats and obstacles to overcome,” such as high rates of bullying, harassment and assault at school.

    Revelers celebrate on 7th Avenue during the Tampa Pride Parade in the Ybor City neighborhood on March 26, 2022 in Tampa, Florida. The Tampa Pride was held in the wake of the passage of Florida’s controversial “Don’t Say Gay” Bill. 
    Octavio Jones | Getty Images

    Many of the nearly four dozen companies that signed the petition this month have been relatively quiet on the recent wave of anti-LGBTQ legislation in the U.S. so far. Their signatures come as Disney faces sharp backlash for its initial silence on the Florida bill. 
    “The current political climate across the country is so toxic when it comes to protections for our community and Florida is not immune,” said Nadine Smith, executive director of Equality Florida, in a press release about the petition. 
    “It is vital that the businesses that uplift values of diversity and inclusion of the LGBTQ+ community by participating in our Pride celebrations, leverage their voices in a time when our community is under attack,” Smith said. 
    Human Rights Campaign and Freedom for All Americans first published the petition in 2020 to address dozens of anti-LGBTQ bills introduced across the U.S. at the time.
    The petition garnered support from around 44 companies by March of that year, including tech giants Google, Apple, Amazon and Microsoft as well as companies such as Hilton, American Airlines and Dow Inc. A year later, the petition had signatures from more than 55 companies.
    Signatures tripled to more than 150 by the beginning of 2022 state sessions in January, according to Jessica Shortall, director of corporate engagement at Freedom for All Americans. 
    The petition also saw an uptick in signatures during February and March this year. 
    Several companies “with a major presence in Florida” added their names to the petition on Feb. 28, just days after the state House passed the “Don’t Say Gay” bill. Among the new signatories were United Airlines, Oracle and IHG Hotels & Resorts, which all represent tens of thousands of employees in Florida, according to Human Rights Campaign. 
    Shortall said it wasn’t Florida’s bill alone that prompted companies to lend their support. Lawmakers in Alabama, Iowa, Texas and Arizona have all recently introduced or adopted anti-LGBTQ policies.
    The Alabama state Senate made it a crime to provide gender reassignment medical services to transgender youth last month. Texas Gov. Greg Abbott in late February also instructed Child Protective Services to open child abuse investigations into parents who provide gender-affirming care to their transgender children, she added. 
    At the beginning of March, Iowa became the first state to pass a ban on transgender student-athletes playing sports consistent with their gender identity. The Arizona House on Thursday passed a similar bill that seeks to ban transgender children from playing sports alongside their peers, just three weeks after the state Senate passed it. 
    “So much attention has been on the Florida bill. But from around the end of February to March the Texas situation and countless other efforts to attack LGBTQ people have been ongoing,” Shortall said. 

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