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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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Albemarle Corp: “I suggest that you wait for it to come down a little, but I do like the situation very much.”

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Nikola Corp: “I think that stock is lethal, frankly. … I don’t want to own it.”

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Monday – Friday, 6:00 – 7:00 PM ET

Home Depot’s business has remained strong even as turbulent economic conditions pinch consumers’ wallets, CEO Ted Decker told CNBC’s Jim Cramer on Friday.
“Our consumer, our customer, pro and DIY have been resilient,” Decker said.

Home Depot’s business has remained strong even as turbulent economic conditions pinch consumers’ wallets, CEO Ted Decker told CNBC’s Jim Cramer on Friday.
His comments were in response to Cramer questioning him about whether he has seen the same signs of recession that FedEx CEO Raj Subramaniam warned of on Thursday’s “Mad Money.”

“Our consumer, our customer, pro and DIY have been resilient,” Decker said.
The company last month reported earnings and revenue that beat Wall Street expectations in its latest quarter and cited healthy project backlogs despite a weakening housing market and persistent inflation.
“Our customer tends to have strong income. They tend to be homeowners. And guess what, they’re spending more time in that home, and that home’s aging,” Decker said.
He acknowledged that the seasonal aisle has seen some softness, even though the project business has held steady.
“It’s hard for us — is that a demand signal because of the weather? We had a tough spring,” Decker said. “Or is it a reaction to pricing or an uncomfort level with the economy? It’s hard to tease that out.”

However, the chief executive maintained that Home Depot remains confident about its trajectory. “We couldn’t be more bullish,” he said.

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There’s roughly one month until the Oct. 17 tax deadline extension, and experts say filers need to prepare.
An estimated all-time high of 19 million American taxpayers filed an extension for their 2021 returns, according to the IRS.
With about four weeks until the deadline, it’s critical to get organized, communicate with your tax preparer and provide information as soon as possible.

Cecilie Arcurs | Getty Images

There’s about one month until the Oct. 17 tax deadline extension, and experts say filers need to prepare, especially for more complicated returns.
An estimated all-time high of 19 million American taxpayers filed an extension for their 2021 returns, according to the IRS.

Kevin Brady, a certified financial planner and vice president of Wealthspire Advisors in New York, said tax professionals have faced many challenges, including deadline changes and new Covid-related legislation.
“When you combine those facts with the understaffing in tax prep and accounting firms and usual tax code complexity, filing for an extension has become more of a necessity,” he said.
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For example, the Paycheck Protection Program and employee retention credit, enacted for businesses during the pandemic, have added a “significant amount of complexity and uncertainty,” said Rob Baner, a CPA and tax advisor at The Planning Center in Moline, Illinois.
Despite these challenges, taxpayers are quickly approaching the deadline for 2021. 

“The best advice we can give is to file the return as soon as possible,” said CFP Diahann Lassus, managing principal at Peapack Private Wealth Management in New Providence, New Jersey, who is also a member of CNBC’s Financial Advisor Council.

How to get organized before the Oct. 17 deadline

Experts say that with only about four weeks left until the deadline it’s critical to get organized, communicate with your tax preparer and provide information as soon as possible.
“Don’t procrastinate,” Baner said, noting that some tax documents may take more time to process. He suggested keeping a folder for all paperwork.
For example, tax professionals are wrestling with new Schedule K-2 and K-3 forms for international taxes, which may not come until Sept. 15 or Sept. 30. These forms go with Schedule K-1 forms for partnerships, S-corporations, trusts and estates.

Electronic filing is the most efficient.

Diahann Lassus
Managing principal at Peapack Private Wealth Management

If you’re expecting a refund, you may receive it faster by e-filing and choosing direct deposit, according to the IRS, with most error-free returns processed in fewer than 21 days.  
“Electronic filing is the most efficient,” Lassus said. 

Tips for the Oct. 17 tax extension deadline
1. Don’t procrastinate.
2. Communicate early and often.
3. File electronically.
4. Pay your tax balance.
5. Reconcile Covid relief.

However, if you didn’t pay your balance by the April 18 deadline, you’ll owe interest and a late-payment penalty, which varies by type of return and the length of time past the deadline, Baner explained.
Interest rates for underpayments jump to 6% from 5% on Oct. 1 and compound daily, according to the IRS. And if you miss the tax deadline extension, you may owe a late-filing penalty.
“The only good news here is that there is no penalty for failure-to-file if you are due a refund,” but you must file within three years to claim it, Lassus said. 

With the IRS still digging out from a backlog of unprocessed returns, it’s critical to file accurately to avoid unnecessary processing delays. 
Before filing, you’ll want to double-check Covid relief, such as stimulus and advance child tax credit payments, Baner suggested, urging filers to compare IRS letters with bank statements.

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PayPal CEO Dan Schulman said the company would not renew its sponsorship with the Phoenix Suns if owner Robert Sarver returns from his one-year suspension.
An NBA investigation found that Sarver committed multiple workplace violations, including the harassment of female employees.
PayPal joins Chris Paul and Lebron James in criticizing the NBA’s punishment of Sarver.

LOS ANGELES, CA – JUNE 30: Owner, Robert Sarver of the Phoenix Suns interviews after Game 6 of the Western Conference Finals of the 2021 NBA Playoffs on June 30, 2021 at STAPLES Center in Los Angeles, California.
Andrew D. Bernstein | National Basketball Association | Getty Images

PayPal, the jersey sponsor for the Phoenix Suns, warned that it would sever ties with the team if owner Robert Sarver remains affiliated with the organization following his one-year suspension.
Sarver was suspended from the league and fined $10 million after an investigation revealed he had made inappropriate comments to female employees and, on multiple occasions, repeated the N-word. 

PayPal, a major sponsor for the team, is asking the team to take disciplinary action beyond the one-year suspension. PayPal and the Suns struck a sponsorship deal in 2018 that included the jersey patch and saw the fintech company’s payments options integrated in the team’s arena and ticket sales.

“PayPal’s sponsorship with the Suns is set to expire at the end of the current season,” CEO Dan Schulman said in a statement released Friday. “In light of the findings of the NBA’s investigation, we will not renew our sponsorship should Robert Sarver remain involved with the Suns organization, after serving his suspension.”
The $10 million fine Sarver faces is the highest allowable under the NBA by-laws, but the league has doled out more significant suspensions in the past. Former Los Angeles Clippers owner Donald Sterling was banned from the league for life after his racist comment surfaced. The suspension forced him to sell the team.
PayPal joins multiple NBA players and the players’ association in saying Sarver’s punishment doesn’t go far enough, including Suns star Chris Paul.
“I am of the view that the sanctions fell short in truly addressing what we can all agree was atrocious behavior,” Paul wrote in a tweet on Thursday. “My heart goes out to all of the people that were affected.”

His comments came after Los Angeles Lakers star Lebron James on Wednesday said that the “league definitely got this wrong,” and Tamika Tremaglio, the executive director of the NBA Players Association, said “Mr. Sarver should never hold a managerial position within our league again.”
CNBC reached out to the Suns and its major sponsors for comment.

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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. There is a bifurcation in the market Quick hit: AMZN, PG, DHR, AAPL Club events to watch for next week 1. There is a bifurcation in the market Stocks were down on Friday after FedEx (FDX) warned of a worsening global economy. Transport stocks are typically seen as a bellwether for the economy. Wall Street was headed for a losing week that would more than wipe-out the prior week’s gains. FedEx CEO Raj Subramaniam told Jim Cramer in an interview for Thursday’s “Mad Money” that he believes the global economy is headed for a recession. While we’re trying to figure out how much of FedEx’s guidance was due to macro headwinds versus any problems the company might’ve had, we’re sure about one thing. There are two markets right now: one that is defensive and not economically sensitive and another that is still going to get hurt by the state of the global economy and strong dollar. 2. Quick hit: AMZN, PG, DHR, AAPL While Amazon (AMZN) does conduct business with FedEx, we are sticking by our decision to buy more shares when it reaches $120. We’re bullish on Procter & Gamble (PG), a defensive stock, since it sells must-have consumer staples and its commodity costs are beginning to ease. We bought 25 more shares Friday . Danaher (DHR) is doing everything right, especially considering its positive earnings preannouncement and its plans to separate its Environmenal and Applied Solutions unit. That’s a big win for shareholders like us. Looking like Apple (AAPL), it has a huge number of orders for its new iPhone 14 Pro and Pro Max, making us believe the stock is a buy as stocks go down. 3. Club events to watch for next week While Nvidia (NVDA) CEO Jensen Huang often wows investors when he speaks about the company, we’re not sure what to expect at its GTC conference Sept. 19-22 after the company warned of challenging gaming conditions and chip export restrictions in August. Salesforce (CRM) holds its Dreamforce software conference Sept. 20-22. However, Jim said Friday that the stock is not a buy right now because a sizable portion of their business is overseas, which is getting hurt by the strong U.S. dollar. Qualcomm (QCOM) holds its automotive investor day Sept. 22. Last week, we bought more shares because we continue to believe the stock’s undemanding forward earnings multiple does not properly reflect the company’s diversification efforts into automotive and internet of things revenue streams. Costco (COST) will report its fiscal fourth-quarter results on Sept. 22. CEO Craig Jelinek told Jim on Tuesday that he sees inflation turning around in six to 12 months . Reviewing the wholesaler retailer’s monthly sales figures, they continue to be strong even as inflation persists. (Jim Cramer’s Charitable Trust is long AMZN, AAPL, CRM, DHR, PG, NVDA, QCOM. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. More

Joshua Bassett has a busy schedule. Between his film, TV and music careers, the 21-year-old “High School Musical: The Musical: The Series” star doesn’t have much time to look after his finances.
Talking to CNBC Make It while promoting his third EP, Sad Songs in a Hotel Room, Bassett admitted that he doesn’t actually know how much Disney is paying him to play the role of Ricky Bowen on the hit show, which is in its third season.

“I still don’t know how much money I’m making for ‘High School Musical’. That’s a true story,” Bassett says. “I’ll tell my business managers ‘I don’t want to know. If I need to worry, let me know.'”
That choice was influenced in part by past experiences being broke, he tells Make It.

“I’ve lived in my car with negative $1 in my bank account, so I’ve seen both sides of the coin and I choose not to let it dictate how I live my life.

Joshua Bassett

“I’ve lived in my car with negative $1 in my bank account, so I’ve seen both sides of the coin and I choose not to let it dictate how I live my life,” the 21-year-old says.
Indeed, despite the fact that his “agents hate it,” Bassett has no problem turning down potentially lucrative opportunities if they don’t line up with his values.
“If I’m offered a movie for something that shoots for seven months but I don’t really believe in or stand behind the message of that film, I’m not going to waste my time doing that because I could be spending seven months making music that I feel passionate about,” he says.

Part of that financial peace of mind comes from Bassett not living a particularly expensive lifestyle. He bought a Honda Civic when he landed “High School Musical”, and still drives the car three years later.
“I like how a Civic is low key. It’s super easy to drive. It doesn’t matter if you get a ding on it, nobody cares,” he says.
On top of his modest car tastes, the singer songwriter isn’t a shopaholic, and in fact owns only one pair of shoes.
“I have Converse that are black and white. And they’re the only pair of shoes that I have, period,” he says. “I get overwhelmed with choice and I’m very much a minimalist. I like to keep it simple.”
For now, Bassett is content to follow his music, film and TV careers in whichever directions his passions take him. What he won’t do, however, is let money influence his decisions.
“I was the happiest I’ve ever been living in my car with minus $1, so clearly money has no effect on happiness,” Bassett says. “Although obviously practically, yes, money can bring a lot of comfort and a lot of great things, at the end of the day, peace is up to you.”
Sad Songs in a Hotel Room will be released on Sept. 23.
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A game-worn Michael Jordan jersey sold for $10.1 million at Sotheby’s.
The jersey was worn in the first game of the 1998 NBA Finals.
The sale breaks the record for game-worn memorabilia and doubles Sotheby’s initial valuation of the item.

Michael Jordan’s game-worn 1998 NBA Finals ‘The Last Dance’ jersey from game 1 is on display during a press preview at Sotheby’s on September 06, 2022 in New York City.
Alexi Rosenfeld | Getty Images

A jersey worn by basketball legend Michael Jordan in the first game of the 1998 NBA Finals has sold for $10.1 million, breaking the record for game-worn sports memorabilia.
The jersey is also the most expensive Jordan item ever sold, surpassing an autographed card that sold for $2.7 million. Sotheby’s had expected up to a $5 million winning bid, but 20 offers drove the price to double that estimate.

Jordan wore the jersey on the way to his sixth NBA championship with the Chicago Bulls, a journey chronicled in the popular TV series “The Last Dance.” At the time, the 1998 Finals were the most-watched in history, as viewers across the globe tuned in to see the star’s last run with the likes of Phil Jackson, Scottie Pippen, Dennis Rodman and Steve Kerr.
The Bulls lost the game that featured this $10.1 million jersey, falling to the Utah Jazz despite Jordan’s 33-point performance. The game was in Utah and the Bulls donned their iconic red away-game jerseys. The Jordan-led team ended up taking the series 4-2, and Jordan grabbed his sixth NBA Finals MVP.
Earlier this year, a shirt worn by Diego Maradona when he scored the controversial “Hand of God” goal against England in the 1986 World Cup sold for $9.3 million.
Sotheby’s reported “a new generation of collectors” in announcing the sale of Jordan’s jersey on Thursday. In addition to physical collectibles, the New York-based auction house has pushed to modernize, auctioning NFTs and even boasting its own metaverse location.

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Heathrow said it would reduce flights to avoid noise during the queen’s funeral.
The funeral is scheduled for Monday, Sept. 19.
Some carriers will cancel several flights to reduce noise during the event.

British Airways Airbus A319 aircraft takes off from Heathrow Airport in London, Britain, May 17, 2021. 
John Sibley | Reuters

London’s Heathrow Airport will change about 15% of its Monday flights to avoid noise during Queen Elizabeth II’s funeral.”As a mark of respect, operations to and from the airport will be subject to appropriate changes in order to avoid noise disturbance at certain locations at specific times on Monday,” Heathrow said in a statement Thursday.
British Airways said it will cancel about 50 short-haul flights throughout the day. The airline said that the cancellations are on routes where it operates multiple flights a day and that it plans to utilize larger planes to accommodate passengers. A spokeswoman said the carrier doesn’t expect long-haul flights to be canceled.Britain’s busiest airport said flights would be diverted around Windsor Castle during a private family service.

Airlines agreed to pause arrivals and departures from 11:40 a.m. GMT to 12:10 p.m. GMT to cut noise during a moment of silence, and arrivals from 1:45 p.m. to 2:20 p.m. during a procession of the queen’s hearse. Departures will also be on hold from 3:05 p.m. to 4:45 p.m. during a ceremonial procession to Windsor Castle.
Virgin Atlantic also said it would cancel four flights to and from the airport from Los Angeles and San Francisco: two departures on Sunday and two westbound flights on Monday.”We apologise for any inconvenience caused and thank those affected customers for their understanding during this solemn occasion for the United Kingdom and the Commonwealth,” Virgin Atlantic said in a statement.

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