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tv   Mad Money  CNBC  June 4, 2020 6:00pm-7:00pm EDT

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that's multiple to sales >> guy >> if interest rates are going to rise, i believe all-state still has room to the upside all. melissa. >> thank you for watchin my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach, put it in context call me 1-800-743-cnbc or tweet me @jimcramer are we really returning to normalcy here? despite the 21.5 million people collecting unemployment
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benefits, is this the fabled v shape recovery that so many people were hoping for well, that's what the market's saying even as the average didn't do much, dow inching up 12 points, s&p climbed 3.4%, nasdaq losing 6.4% see, that's the problem. i think we're looking at a v-shaped recovery, but it's a v-shaped recovery in the stock market and that has almost nothing to do with the v-shaped recovery in the economy. prosper -- when you look at the nasdaq 100, the tech heavy index that hit an all-time high today, it doesn't seem indicative of the broader jobs picture airlines and hotels and casinos put in the less bad catery, less bad a than we thought, a trend that could last -- people do fast gaming. it does peter out. it's musical chairs.
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how can the market rebound without the economy? because the market doesn't represent the economy. it represents the future of big business the bigger the business, the more it moves the averages and that matters because this is the first recession where big business along with bigger wealth, but that's not really my show, is coming through virtually unscathed, if not going for the gold small business, the ones that aren't publicly traded, they're dropping like flies after a government mandated shutdown because they're nonessential and the people who work there are nonessential it's hard enough to run a businessne business how about when the government says you're closed that's the thing about the pandemic one of the greatest wealth transfer in history and a wealth transfer mandated by the state it will have a horrible effect on our country, but we've barely begun to see the impact. still, we just got some figures from the american bankruptcy institute that will chill both
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republican and democrat, that's right. today's numbers so up 48% jump in chapter 11 bankruptcy filings. that's that pesky real world asserting itself, but the only big bankruptcy we've seen in the stock market is hertz. now, i'm not trying to blame the government for this. the treasury department is practically shoveling money to small and midsize businesses still 186 billion left in the paycheck protection program. they only need to spend 60% on employees to get loans forgiven down to 75 most small businesses close because they can't afford to pay the rent they can cutback on labor, skip product, figure outweighs to work efficiently they can't lower the darn rent.. there hasn't been much forbearance from landlords the stimulus package won't be enough it's an odd reason not talked about enough it's not going to work because of social distancing social distancing has become the
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real bain of small business and a boon to larger ones. again, while that's not really anybody's fault, it's producing terrible outcomes. lately we've been seeing some real improvements in the coronavirus numbers. however, that's only happening due to the widespread adoption of masks and social distance guidelines the problem, though, it's very hard to make money at a restaurant or a retailer if you're not allowed to -- if you have to wear a mask at a bar it's such a buzz kill. and you can't have crowds anywhere the restaurant industry employs 15 million people. social distancing means losing a ton of tables and a lot of bar space. the latter is brutal because alcohol is where the money is. let me give you a concrete example. i walked through this. i decided this is how i'm going to explain it because it keeps eluding people -- it's driving me crazy costco last night costco reported 5.4% same store sales growth since
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last year. wall street was looking for 1.6% they saw an incredible 1.06 increase everything else got clobbered in the sector except for the lowest end retailers. costco has a simple ethos. they focus on a small number of ibuprofen deuceers and secure bargains for customers they don't try to make money on markup you get better prices when you buy in bulk. consider what they sell, steaks, crab like fish they sell auto parts astoundingly less than what you would pay at the local mechanic. no department store can beat them fruits and vegetables, they're better looking and more organic than anything your corner green grocer can supply often at half the price. i am a bit of a wine aficionado, not good enough. they are selling below the price my liquor store pays to the vineyard before marking it up.
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health and beauty aids, don't compare them to bed bath and beyond a place that had to be closed and didn't get to open may 30th. so expensive you have to wonder how any mom and mop competitor can stay in business maybe best buy can compete on electronics. maybe not. local jewelry tried to bring in special inventory but not at costco special prices. toilet paper, paper towels they had the limit. prices were great. thank heaven that's god. the only category costco didn't compete was hearing aids they're still the cheapest place to get the ultimate baby boom product, but they won't bring them back until they can sell them safely. don't worry, they're coming as are costco terrific free samples in a newer safer form. i bring up costco because a month ago they instituted a policy saying customers must wear a mask and face covering at all times unless you're 2. no mask, no shoes, no service. we had backlash from those who
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boycott the chain. somebody said that's the end of costco, mask, mask, mask wrong. turns out most customers understand it helps them immensely because people feel safe shopping in there. the 16-feet wide aisles give them the one-two punch for any other store for that matter. for the frustrated americans, most want a safe place to buy essentials with masked men and women manning all parts of the store. let's see, highest quality, low he fe lowest prices, 16-feet wide aisles all masks. amazon, you have to put the box there 24 hours who can compete with that combination? there's the problem. i want you to go to your costco. and what you see is the destruction of nearly every small to medium-size retailer right there in front of you. the local guys are starting to reopen but they're in debt struggling to pay the rent already lost customers with big
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box chains and taste them and love them and they can't compete with costco on pricing or more importantly safety they can't rival target, contactless pick up. they can't deliver any time anywhere low prices. at best mom and mop can set up shopify, which is better than nothing, but probably not enough that's just retail smaller restaurants even worse you can rip out half the seats from most the big chain locations and they're going to make up the difference with take out and delivery ordinary restaurants get crushed by delivery because the real money is at the bar. delivery takes a chunk of their profits. i co-own two place ands we could lose two-thirds of our tables if we're lucky. in order to meet the rules we don't have yet, costing a fortune to find out what those are. may be better than the olive garden but how the heck do we make money with four tables instead of 12? we don't have a bottomless salad bar. if you try to steal our rolls, good luck. what's happened to small business all over the country
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and the stock market we'll never capture that kind of pain i described. they'll capture all the gain as the larger outfits take share from tiny companies and those are the ones of the stocks that we're trading. the bottom line, you might say that's just capitalists, but the logical conclusion here is a world where we have a handful of retailers and handful of big restaurants all publicly traded and that is 57 it. without a second stimulus package that's what the future will look like, a guarantee it and you won't enjoy it even if you profit off the rising stocks of big box stores taking over the world and mourn the corner store zack in pennsylvania, zack >> caller: hey, jim, big booyah from eagles nation how are you? >> eagles nation getting ready for a season going to see it. i'm good how are you? >> caller: good, man i have a two-part question i'm in my early 30s.
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can ch can sherwin-williams -- >> i like it since they bought valspar. i'm just giving it to you. i'm giving it to zack. it's a winner. by the way, not a lot of competition in the paint business all the companies combined why don't we go to mark in iowa mark >> caller: hi, jim i'm a new investor that bought delfi technologies when it was low. they're being bought out by borg warner, late quarter 3 or quarter 2 or quarter 3 sometime. now i need to better understand how that affects the company's value when it buys out another company like that, or is there more value in selling -- >> borg warner is down the next one is to run i know when i say run, there are people actually running stocks these days they ran the hotel now they're running the airlines the next thing they're going to do is they're going to run the autos. that's just my prediction and
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borg warner is the one they're going to run magnum is the best in the segment. you know what i mean go read my besought entwitter file i can't bear to get through. disgusting frankly i'm disgusted by it. i don't need twitter any more than the president -- oh, no, the president needs it, i forgot i think we're looking at a b-shapbv shaped recovery, not the economy. this is the one for the stock market the economy is live long and prosper. you may not enjoy what's about to happen in the real economy. i'm sitting down with house speaker nancy pelosi to talk employment, reopening plans and the roles business can play amid recent civil unrest. tomorrow i'll be speaking with vice president pence and j.m. smirk, food for -- is there time too buy the red hot stock? i have the exclusive, so stay with cramer. >> announcer: don't miss a
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the xfinity voice remote will find exactly that. happy stuff. the group's happy, i'm happy. you can even say a famous movie quote and it will know the right movie. circle of trust, greg. relax, the needles are jumping. you can learn something new any time. education. and if you're not sure what you're looking for, say... surprise me. just ask "what can i say" to find more of what you love with the xinity voice remote. ♪ there's no doubt that things are looking better for the economy than they were a month or two ago even with civil unrest in the nation still the reopening is going pretty well and we're bleeding jobs at a much slower pace than
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near the bottom. man, we still have sky high unemployment just important we're still on federal life support that life support has a limited shelf life what happens when the paycheck protection plan runs out of money? what happens when the extra $600 a week stops at the end of july? is business picking up fast enough to offset that damage do we need another round of stimulus the democrats are making a case we need more spending. let's go straight to the source to nancy pelosi, the speaker of the house, to get a clear picture of what we can do to bolster a sackigging economy. speaker pelosi, welcome back to "mad money." >> glad to be here, jim. >> we're seeing a number tomorrow morning at 8:30 that may be the worst we've seen maybe since the great depression what are the frprospects for extension of unemployment benefits of $600 per week to make it so the people who are trying to find jobs can also put food on the table? >> well, first of all, let me say the heroes act is an answer in many ways to the challenge
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that our economy faces if we want to open up the economy, and we all do, we need to defeat the virus, and that's testing, tracing, treatment, and isolation. and we don't have a vaccine and we don't have a cure, but we do have a method to defeat the vaccine -- excuse me, the virus, and we have to do that so that's one way to open the economy. the other way is to honor our heroes let's keep these people working. the money that we're putting into state and local governments to pay our health care workers, our first responders, our sanitation, transportation, teachers and the rest are keeping people working otherwise the states will have to fire some and raise taxes or some combination thereof this is about the economy. it's about stimulus. and the third is putting money in people's pockets. i'm very concerned about what would happen if the republicans decide to cut off the
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unemployment insurance, regardless of the $600 that, too. but the unemployment insurance is a very, very valuable stimulus as well as meeting the needs of america's working families who have lost their jobs through no fault of their own. again, open the economy, keep government going, but having these people employed and having purchasing power and putting money in people's pockets is about the economy, all of it >> one thing you left out, i know costco, the second largest retailer in the country feels is important and the numbers justify it is the mask but there are a lot of people who won't wear the mask. they feel that the mask is somehow unmanley or the mask has issues beyond just psychological defeat but it's been instrumental in getting places to open again >> absolutely. real men wear masks, and these masks are essentially important. and if you decide not to wear a
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mask, you're insulting anyone with whom you come in contact. if you were to decide not to wear a mask, you could be bringing home something to your family that might not be a welcome guest. that would be a virus. so, again, i mention such common sense. you're absolutely right and thank you for emphasizing it the mask is essential, is essential. >> of course i'm seeing states including the one i live in borrowing money at rates that i don't think it can pay back, to be honest now, we can maybe rely on the fed, but that is really short term and not the way our country is built do the republicans recognize that the borrowing cost for some states is just too high, and through no fault of their own, they had a huge amount of covid victims? >> well, the fact is what we do in the heroes act is to say this money is strictly for the cost incurred because of the coronavirus and addressing the health care needs.
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it's also to offset the revenue lost because of the coronavirus. if you go to speaker.gov/heroes act, you'll see how different communities across the country benefit from this, and every community in the country does. every state and every community. state and local government this is very important most of them have to balance the books by the end of june, by june 30th, effective july 1. they really need the heroes act to be passed now, to be passed now. you talked earlier about how the economy is coming back i think the fed is doing a really good job in bolstering the stock market they put out so much money in terms of the, shall we say, the goal of credit and bonds and all the rest of that, that why not have the market go up. we just want some of that other money to be spent to bolster the working families in america who have lost their jobs through no fault of their own
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whom the virus is debilitating in terms of getting the economy moving again until we test, trace, treat and isolate as we wear our masks >> you know i am someone who tries to be constructive at a time when it's difficult and i know that you've got -- you stand united with republicans on one key issue, which is what's china really doing to us you have been one of the few people even willing to mention tiananmen square it's almost forbid en, and yes we know it was one of the great human rights violations. we also know that they want -- the chinese are still listing companies that are taking americans' money and not fulfilling the promise of having honest financials. when does this end >> well, i thought it would have ended by now, but actually democrats and republicans have catered to the chinese government but democrats and republicans, on the other hand, have worked together
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31 years ago was the tiananmen square massacre. 1991, i stood with my republican and democratic colleagues in tiananmen square unfurling a banner remembering those who died at tiananmen square we thought that if we could use our leverage with the chinese, that we could free those prisoners. we could open our markets. they could stop violating our intellectual property. they would stop selling weapons technology for weapons of mass destruction and delivery systems to rogue nations, but they didn't, not for a very long time and now -- and now, just again, in a very bipartisan way, we passed three bills, the wigar bill, the hong kong democracy bill the president signed as well as the legislation that relates to tibet bipartisan, bi-camera. we cannot be naive when it comes to the chinese they have no intention of stopping ripping off our
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intellectual property. they have no intention of giving us the market access that we need unless we would join globally with the e.u. and have real market strength to say to them, we're no longer going to be at the mercy of your trade violations, we're going towork together, now let's negotiate. >> that would do it. that's how you get it done one last question. have you been as impressed as i have, madam speaker, that there are c.e.o.s -- and we do have c.e.o.s -- we go way back. there are c.e.o.s who would never pay attention to something like the travesty that occurred in minneapolis but there are many c.e.o.s coming on our networks and actually realizing that they haven't done nearly enough they're not -- they're not uttering platitudes. they're putting together plans what can we do to continue to make it so that the c.e.o.s remember that they have an obligation, particularly because they're paying hundreds of thousands more than -- millions more than most of the people who work for the companies >> sometimes they make in two
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weeks what their employees make in a lifetime. what i'm hopeful about is their children children are asking their parents now, what are you doing to preserve the planet what are you doing to make things fair? i do think that that has had an impact on some very wealthy people anyway, and not just about philanthropy, but to make some business choices that are more, shall we say, fair and safe for the future. but i do think that we have to recognize that we all have a role in all of this. and there's private philanthropy, private consideration of how you run your company or you just say, i want tax breaks and i want no regulation and i'll just put up with anything, any uncertainty, any lack of values, any of the rest of it in order to get my tax break and my company not regulated. so i'm glad to hear that you're
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seeing evidence of some values dominating what's going on but as you know, for most companies, the profit motive -- the business plan is just to make money and we don't -- success at that, we don't like the exploitation of workers, the environment or character of a country that we are. i do have my own comments that i have made about those whose business model has been built on conveying falsehoods to the american people. >> i know that that's actually -- falsehoods are bad for business and anyone who encourages them is actually bad for business even people who are necessarily thought of as pro business it's a mistake as you know also, the unrest is not -- is tragic a lot of it motivated, i think, from economic realities that are often ignored. >> well, i do think that we have to be unifying as we go forward.
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you know, we can talk about what happened, when and what and all that, but there has been something very -- a pattern of bad behavior of how people are treated unfairly in our country. let's take this moment to be an inflection point, a pivotal one that we are going to not just proceed incrementally, but in a very strong way to do things differently. and part of that difference will be to say, what are the solutions that can unify our country rather than assigning blame or past performance, but to say how do we go forward together and let us recognize the role that the private sector plays in the economic life of our country, job creators, wealth creators and the rest. but let's also know that there is good governance that creates jobs as well as enables business to function because of the services rendered by the public sector >> well, madam speaker, i think
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it's hard to disagree with that. if people do, i don't think it will be well received by voters. thank you so much for coming on "mad money." >> thank you my pleasure always thank you. >> that's house speaker nancy pelosi with some important words. "mad money" back after the break.
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♪ when you look at the beat down in the package food stocks, it's clear this rotation out of the pantry plays into a lot of stocks like airlines and restaurants have lower quality, by the way, has begun. take j.m.smucker the makers of jelly and
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encrustables, sandwiches so popular. along with snack foods and pet brands for the three months ending in april, just a strong top and bottom line beat, clean. management issued guidance for the new fiscal year, those numbers came in much lower than wall street was expecting. it was the kind of forecast that made you wonder if the company's best days are behind it. no wonder the stock got hammered, 5% on great numbers. 3.32% yield, can investors get excited about this one in a post-covid sheltered home world? let's take a closer look with the president and c.e.o. of j.m. smucker company to get a better read on the quarter and company's prospects. welcome to "mad money. >> jim, thank you for having me. >> so, mark, i went overall the things that went right this quarter and i went over your guidance and i have to say that it made me feel that your brands may not have any growth, no organic growth and yet that seems almost
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impossible given the momentum you have >> well, you're right. so, first of all, our brands will grow in this coming year. as we think about and looking through the year, our core business is strong you're right, we had a fantastic quarter. but the guidance that we gave was meant to help explain to our investors the real impact of covid. but if you think about some of the key things that have gone on, number one, a million new households on our coffee brand, three quarters of which are on folgers. uncrustables, your favorite product, grew 50% in the quarter. and actually in the quarter, we sold more jiff peanut butter than we ever have. and so consumers are re-discovering in many cases some of these brands that maybe over the past couple years they've lost a connection to it also shows that these bigger brands are still trusted and the categories in which we operate are resilient.
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so if you think about what will grow next year, it's uncrustables, it's dunkin', it's cafe bustello, meow mix, milk bone all those brands we're expecting to grow. >> i do think also that you were -- look, i love conservatism because i don't want to under promise. it's almost as if you said the service business is going to be down, but it won't be made up by our at-home. now, that's actually a bad description because what i think is really going to happen is that the work at home people are going to be eating at home and we're not going to put all those people back in the offices because it turns out to be expensive. those will be peanut butter and jelly and uncrustable eaters, won't they >> yes, and that is the number one lunch sandwich in the united states if i can just break down in a very simple way our guidance and what it reflects, first of all,
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the huge beat in q4. roughly $170 million, which we will be lapping obviously a year from now, and that is a very difficult comp and then our away from home business, which is actually been incredibly strong leading into the covid situation has been gaining share in all of its segments, which are uncrustables, coffee, which you see in both offices and in large venues, hotels and so forth, as well as our table-top branded. so the little jam and jelly you find at any one of our retail, you know, restaurants, around the country, that business is going to be down significantly >> okay. >> and because it has a very high asset base, that head wind we cannot totally offset with the growth in the other businesses >> that's fair that's fair. one thing i thought that was left out, but maybe it's because
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i'm enamored and others aren't, i'm sure that changes. you guys gave me a big box of the snacks i took them home to my vegan daughter and vegetarian daughter and they thought i had come up with the great one i didn't tell them they were smuckers he said they were owned by a small merchant that started to make a comeback. they were like, wow, this is the candy, this is the snack we want never mentioned in the conference call. didn't somebody sample this thing? >> well, it is a fantastic product. i will tell you. and actually our stated strategy involves not only these big brands, but it also is about the smaller emerging brands which sahale is one of those it is a boutique brand it was founded in seattle by two entrepreneurs. we acquired it several years ago. we have just gotten to a place now where it's really starting to take off. you can find it in a lot of places, one of which is airports which none of us are going to right now.
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>> oh, right >> it has grown and it is a fantastic product and it's healthy. >> uncrustables we have to talk about because when you get a 50% growth that is a break out in the food business. how did this happen? and is this the beginning of the trajectory >> uncrustables, jim, is a brand we acquired way back around the turn of the millennium, around 2000 it was a $1 million business today it's north of $350 million. it took us a long time to figure out how to make that product we just opened a new plant in colorado which we are still expanding, and we are now in a place where we truly can supply the market with that fantastic product. and i might add as well that we have a lot of innovation so if you look at this past year that we just ended, $360 million of our sales came from new products and coming into this year, we
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have a number of new products, whether it's in pet food with nutrish and milk bone treats, and we have a new jiff squeeze product that is fantastic and really delivers. so really combining those high growth brands like uncrustables with some of our broader innovation is going to be a key focus for us here in fiscal 21 >> last question you probably have, because of your lunch food, better call than most. what percentage of the people that have scattered around the earth because of covid are not going to the central office, do you think will go back and how many do you think will stay at home >> you know, what we have assumed going forward over these next 12 months is a slow gradual return to normal in our own case, we're not bringing people back to the office yet we have to be respectful of our employees. they've been working so hard over these past few months, and really risen to the occasion and
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shown that as a key player in the food industry, it really is our time to shine and show that we have an obligation to meet the needs of our consumers but our assumptions are that it will be a relatively slow, at least over a 12-month period where until we get back to a much more normal life-style. >> all right, fair enough. well, there's a lot of time for people to sample more folger's and uncrustables and know how good they are. the president and c.e.o. of j.m. smucker. great to see you, sir. >> thanks so much, jim >> okay, "mad money" is back after the break. e and i never live up to anybody's expectations. scott! hey, thanks for listening to all of this. you're one of the few people who treat me you know like a person. you're welcome.
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for months the stay-at-home stocks were the best performers in this market now we're seeing a major rotation back into the going out stocks so what do we do with the biggest winners from the shelter-in-place economy here? in the case of shopify, the software company that helps small businesses embrace e-commerce, the stock rallied from the low 300s in march we're pulling back today to 735. shopify reported an incredible quarter. while the sthhelter-in-place ma be coming to an end, it changed the way americans do business. while the stock is expensive, i'm betting it will go higher in the long haul. let's check in with the c.e.o. to get a better sense of how the company is doing harley, welcome back to "mad money. >> hey, jim, thanks for having me on the show it's always a great pleasure and honor to be with you >> thank you i think there is a mistake i know you can clarify a lot of people feel that when the all-clear happens and we don't have to stay in place,
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it's the end of an omni channel that's been unleashed and basically created by shopify there's no way it gets -- the genie ever goes back in that bottle, does it? >> if i may, jim, i want to talk about shopify's stance on everything that goes on. i think it behooves us to talk about it our core mission was all about leveling the playing field and allowing for fairness so that anyone can rise up and build great businesses and we are really, as you are i'm sure, deeply saddened by current events and we stand with our black merchants, black employees and the black community worldwide. so i just wanted to mention that at the outset. >> i'm glad you brought it up because the looters in many cases are hurting places that don't have the right insurance, that are minority owned, that are just going to be done in an era of social distancing and an era where we're not even able to
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get the insurance money. >> yeah. well, look, we believe the future of commerce needs to have diverse voices, more voices, not fewer. and so, again, we started the business because we felt it wasn't fair. if you want to start a business 15 years ago online you needed a lot of money, a lot of experience our mission from day one has been to level that playing field and it feels more important now than ever before to do that. >> as a small business person, i'm one of the 40% when i started, harley. i had a checking account it was my checking account i started my business with my checking account i didn't have enough money to say, listen, i want an accountant you know what, that's a fundamental detriment. it's a major reason why small businesses fail. you crack the code you figured that out and what you're doing can really save a lot of businesses thinking about starting right now. >> you're mentioning shopify balance. for a second, what you seen us woerki woe working on the last ten years or
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so, once we helped entrepreneurs figure out a beautiful scaleable online store, we said let's help them with physical commerce, places like facebook, instagram. merchant solutions, we realized if we were to aggregate all of our stores, we would be the second largest retailener online america. that gives us incredible economies of scale and we can negotiate on behalf of small businesses with he started with shopify payments and made sure people were able to accept credit cards at affordable rates and a very easy to use fashion. we then went to things like capital because we felt frankly it was really difficult for small businesses to get capital, get money from a bank. fulfillment and shipping the new thing we're introducing is shopify balance i think you and i would agree historically banks have really under served and under valued smbs it's the reason we started capital. so we're offering this new product called shopify balance to give merchants access to critical money management tools.
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whether they need to marnage their cash flow, reconcile payments in channels and get paid through a bank account quickly to manage day-to-day operations that's our next merchant solution we think further levels the playing field so small businesses can compete because so many can't. >> i checked in with mark sucker be zuckerberg about it. what you're trying to do with balance and things like this are what makes it so when they do the facebook shops, they are powered by a company that is the second largest merchant. the partnership seems like an actual real one, not just for show >> it really is. so we've been working with facebook on commerce and commerce tools since the beginning, since they started thinking about commerce. and we're really excited about facebook shops facebook shops will allow these free tools to help merchants create a customizable presence on facebook and instagram. it's one more place for merchants to connect with
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buyers the partnership shows the tech industry can come together to help business at a very critical time but that is one more place where small businesses can connect with consumers and make more sales. now, again, more channels equal more sales, but it does increase the complexity and that creates more value for shopify which simplifies all of that into a single centralized retail operating system >> i have to emphasize again, i don't think people get it, theoretically dangerous it is, theoretically, to lend these companies money, basically you're giving them money i read somewhere, someone said they don't know who they're giving to. no, i think this guy harley, i think he knows -- photographic memory for a lot of the shops. how many of them do you know personally >> a lot of them i even have my cell phone number and i get daily updates. i posted a few of them on social media telling me how they're not only surviving covid and the pandemic but they're thriving. you're right, we've given out more than a billion dollars of cash advances to small businesses
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these are people and businesses that could not go to a bank. they're using it for inventory and marketing and they're building their business. and when covid first hit, that first week or two, we actually deployed an additional $200 million in cash advances and loans for small businesses gift card availability for merchants, more service-type businesses we created local in-store pick up and curbside pick up. we created a shop by email which is free until october. we created a 90-day trial so anyone who needed to pivot their business very quickly was able to do so with shopify. we did that within the first couple of weeks of covid hitting. we felt that, again, that mission of making commerce better for everyone and helping entrepreneu entrepreneurs feels more important than ever before >> i'm glad you said that. how do they get that up so fast, that store up? they got it up because of this man and his team and his team, by the way -- it's always about the team it's never about the man or the woman. that's how good these guys are that's shopify c.e.o. harl
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finkelsteen. a darn good stock. "mad money" is back after the break. some companies still have hr stuck between employees and their data.
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entering data. changing data. more and more sensitive, personal data. and it doesn't just drag hr down. it drags the entire business down -- with inefficiency, errors and waste. it's ridiculous. so ridiculous. with paycom, employees enter and manage their own data in a single, easy to use software. visit paycom.com, and schedule your demo today.
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>> announcer: lightning round is sponsored by td ameritrade ♪ >> it is time! it's time for the lightning round. rapid fire calls >> buy, buy, buy >> sell, sell, sell. [ buzzer ] >> and then the lightning round is over. are you ready, ski daddy!
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betty in michigan. betty. >> caller: big booyah to you, thank you for taking my call >> ski daddy booyah back to you. >> caller: i was calling about bunge. >> we have a company on reset. that stock quarter break down, thank you for signaling that break down to me let's go to larry in florida. larry. >> caller: jimmy chill >> oh, what's shaking, partner >> caller: not much. i just wanted to say first and quick, thank you for your approachability and accessibility. >> thank you yeah, you know what, good you mention, larry in truth of course i've made myself way too much accessible to 1.4 million people who trash me every day i'm a resilient fella. what's going on? >> caller: not too much. i wanted to know long term what are your thoughts on nxt -- >> long term and short term i like nxp the next market to run is auto
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nxp has a lot of auto. even more than marvel technologies ram in georgia ram. >> caller: thank you for your helper, it grew my technology. what are your thoughts on bmw? >> they had a really good quarter. i suggest you go over that and dell by the way, they do a lot of stuff that's really good for the home office. which we know is not going away. vm ware is a really good quarter. i'm going to darren in michigan darren >> caller: hey, joe, love your show thank you very much to your you and your team. with e-commerce space, do you see macy's avoiding the same as other brick and mortar >> it has since doubled. they did get the extra bond money. they are going to be able to stay in business they can do a lot of things. they have some optionality and that, ladies and gentlemen, is the conclusion of the
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lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade ♪ ♪ ♪ ♪
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♪ what should our government do about china right now the white house is a a crossroads i really hope they're thinking this thing through from the administration's perspective, the chinese government has a host of things against the united states.
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even though they got their act together, the early reports we got from china turnout to be far from accurate. a lot of people want to blame the chinese for misleading us. the novel disease is new, no one knew about it at all, but unfortunately, that initial clue was infectious, how you end up with the world health organization telling us masks were unnecessary when the exact opposite turned out to be true then just when we need more masks, turns out most of the production is in china because we've been outsourcing manufacturing for decades. doesn't look good. at the same time, you remember that preliminary trade deal with china last year? turns out the chinese government has gone out of its way. thanks for nothing meanwhile chinese companies continue taking advantage of our capital markets to fund companies that may or may not be bogus. who knows. i got pressured by u.s. investment bankers when i questioned the bona fides of luckin coffee. they were making up sales.
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i didn't bet on t but some did our banks have been useful idiots for scam chinese companies. they just want the fees. finally on the cyber security front, china is the biggest threat out there we heard that all week throw in the government's malicious treatment of hong kong where they pretty much suspended hong kong's separate legal system and you can understand why the white house wants to take action. i've said it before and i'll say it again the people's republic is a bad actor. and they're not going to play by the rules unless we hold their feet to the fire and we must but, and this is the mother of all buts with 20% unemployment in this country and desperate need for place to export to, you have to ask is this really the best moment to ratchet up the trade war? can't we at least wait until america is back on its feet? skip the whole hoover thing before it gets out of hand i could be wrong, it's possible we can't afford to wait. but the problem here is we can't really tell. our government's policy seems to be tweeting nasty things not exactly the monroe doctrine. i think if we had a clear policy on china, this they could bring
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republicans and democrats together on this issue china might behave itself. they might be scared enough trash talking want to escalate things? protect investors from bogus chinese ip oss couple coming up enough investor losses u.s. government protect us from them without a plan we're antagonizing china for no reason i'm fine with antagonizing the chinese communist party. it's the right thing to do, but only if there is a policy, a plan, and a goal stay with cramer and stick with cnbc for a special hosted by my friend scott wapner at 7:00 p.m. eastern. >> announcer: tonight at 7:00 p.m., chinese students are putting off coming to college in the u.s., cutting off a vital revenue stream what will it mean for the colleges this fall and beyond? plus, wall street's disconnect and the nba votes to return.
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what the rest of this season will look like all tonight at 7:00 p.m. with scott wapner i know that every single time that i suit up, there is a chance that that's the last time. 300 miles an hour, thats where i feel normal.
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i might be crazy but i'm not stupid. having an annuity tells me that i'm protected. during turbulent times, consider protected lifetime income from an annuity as part of your retirement plan. this can help you cover your essential monthly expenses. learn more at protectedincome.org .
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♪ you know, a lot of people thought there were things i didn't do, i get to read about it every day, it's thrilling last night i got an email from martin franklin, a guy i really like he's made a lot of money for people he reminded me while he was involved in some of the spacs we talked about, i left out restaurant brands which is a huge winner. by the way, the ones he's involved with, losers, aren't as hot as they used to be any time anyone feels that i have not given them a fair shake, like martin franklin did, believe me, i am happy to change my view. martin franklin, you know what, i'm sorry, you are right you've been a very big money maker my whole life. i like to say there's always a bull market somewhere and i promise to find it for you here on "mad money. i'm jim cramer see you next time.
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good evening i'm scott wapner on day 158 of the coronavirus crisis tonight the great divide how the stock market can be so good while the economy is still so bad the nasdaq 100 hitting an all-time high. >> the stock market's recovery more robust than many thought possible. >> initial jobless claims, 1.877 million. >> the story off of wall street is very different. tonight, getting to the bottom of the disparity plus --

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