significantly, so could be interesting for long-term investors. >> jeff? >> dan, you were right, i was wrong. it pains me to say i think exxonmobil is the next chart to crack >> going to be his ringer now. dan? >> apple, sell them and go away. >> all right. 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 save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer if you're like me, you're sick of reading that we're headed for an inevitable train wreck.

that things are about to get terrible that the banks will destroy the entire market. >> sell sell sell sell sell! >> that the fed has to cut rates. not raise rates. so why not bail from the entire asset class that is stocks and we are in the house of stocks before disaster strikes. >> the house of pleasure >> no. that's how we get another ugly day like today, where the dow tumbled 287 points, the s&p lost .72%, and nasdaq shed only .49%. and that does matter so stay tuned. even though this train wreck might seem inevitable right now, there are plenty of things that could happen to keep the proverbial train on the tracks and we could get to -- >> the house of pleasure >> see they come off. they do anything i want. let me walk you through my wish

list because when you go down and you go down and you go down, you usually find yourself at i appoint where it's just not worth selling anymore. >> sell sell sell! >> all week i've been telling you need to get through this gauntlet, right? the gauntlet -- well, here we go this is what we're looking at. the four hurdles that must be jumped we had the fed meeting apple's earnings that was this evening. employment report tomorrow morning at 8:30. and the debt ceiling, that's just hanging all over us like an attic. before we get to where buying stocks makes sense i think it's a little more nuanced than that. i did think, though, we cleared the first hurdle, the fed meeting, with ease and man, was i ever wrong about that not only did the fed misunderstand the terrain and set us back by appearing totally oblivious to the current regional bank crisis -- >> they know nothing >> but we've now had four bank failures silicon valley, signature, silver gate, but then earlier this week we had first republic. the first three have been

irresponsible quirks that rendered their business model useless and reckless in the face of the fed's rapid rate hikes. first republic was different sure they made risky loans others wouldn't touch. but they didn't have many particularly bad loans nor did they have a highly concentrated deposit base that could flee on a moment's notice based on a few scary tweets the way they had at silicon valley bank until a few months ago first republic was actually a pretty good outfit. that's what makes this whole thing more unnerving than the fed seemed to realize. >> they know nothing >> we even thought first republic could be saved after a group of larger banks tossed them $30 billion in deposited to tide them over for a while they were okay but they weren't you knew it, i knew it, david faber my partner, we all knew it except the fdic. the bank had to be given away to jpmorgan at 3:00 a.m. on monday morning. how did that happen?

only jpmorgan said we know how to do it they of course made out like bandits. small price to pay to save all those depositors i don't know i wish the fdic had done a better more thoughtful job actually i wish they didn't done any job. their clowelessness has us in the jam we're in now i blame them not the fed but the fed should have realized they were dealing with a group of people who were way over their heads. once first republic went under smart money managers knew they could bring the rest of the regional banks to their knees simply by aggressively shorting a regional bank -- >> sell sell sell! >> they're selling them like mad. i can see it why can't the people in charge see it the selling in the etfs crushes the stocks that are underneath and it's causing tremendous damage to you will at the bank stocks, good and bad all they happen to be is just -- they happen to be in the misfortune of being in these etfs if you crush the stocks as we saw in 2008 you can cause a

genuine bank run on its own because wealthy departmentors see the action in the stock of their bank and they flee seemingly to safer financial institutions they flee to jpmorgan. didn't the fdic do that? didn't they see that didn't they know they were going to drive all the money to jpmorgan so do all the small businesses and charities. they have to get their money out. the fiduciaries will take that money out despite the bank's assertions because the stocks knocked down by etf short sellers just scare the heck out of anyone. nobody who's had a balance over the fdic's quarter million dollar deposit insurance cap can even afford to stick around. it's too dangerous now, i would have thought fed chief jay powell realized this ahead of the meeting, but he focused solely on the initial wave of failures in march. it was like he didn't know what was happening in april like blindsided by current events it's like he didn't follow the first republic saga and he was on autopilot that's not like him. and i knew there was big trouble as i saw last night when i saw him misread the room so badly.

the moment his press conference was over smart hedge fund managers immediately went to work, immediately, and what were they doing they were machine gunning fish in a barrel. i don't want to mention the banks' names, but every single regional bank in these etfs is now in danger of being the next first republic and none of them deserves to be, but they happen to be in the etfs and the fdic just doesn't understand the way it works fortunately there is an easy way to avoid the financial train wreck and if they're listening to me they will do this. the fdic tomorrow morning -- well, actually, even sooner than that just has to say we will insure the deposits of banks that have invested their money responsibly if there are no credit problems in the portfolio and we know when we've reviewed your portfolios, that's what we do for a living, we're going to bust and you that includes the fwoofrnlgz then they have to list the most heavily shorted regionals in the etfs that's all they have to do that. they don't understand that look, i know stocks. they know banks. i'm smarter than them at stocks. they're smarter than me at banks. it's all right some would say the fdic needs congressional approval to make

this happen. that's a really stupid thing legally that's an objection but regional banks are everywhere. no member of congress ever wants to cross them just like nobody wants to cross the auto dealerships. these banks are the bread and butter of local economies. it's easy to fix it. they can go apologize to congress which will embrace them and say thank you for helping us save our local banks that's their solution. i offer it they should take it. if they don't then i will hound them until they are -- i'll hound them to the ends of the earth. because it's your money that i'm worried about. i don't know what they're worried about. second hurdle is apple tim cook, money in the bank the whole time largest company in the world reported tonight it was fine. the sales and earnings were both meaningfully better than expected, which is good enough for me let's just say box checked, we cleared the hurd well a few centimeters to spare i always say own apple, don't trade it but i heard five or six people in the last 24 hours tell me to trade the heck out of it i hate those people. i'm back into a hate mode.

and i'm really good at it if i have to be we try to jump the third hurdle tomorrow morning with the labor department's non-farm payroll report right now we've made major strides in the fight against inflation. gasoline down year over year, supply chains have been fixed, most shortages are over. a lot of the commodities are down but we still have wage inflation. that's what the fed's most afraid of. fortunately i think wage inflation's cooling. why? immigration started up by the way, more people have immigrated within the last six months than in the last six years. and guess what, they like to work, they like to support their families, they want their kids to go to college they're like us. that means more workers for the labor shortage meanwhile we've gone through a prolonged period where new hires had to be trained to do their jobs guess what they're now trained. by the same token people who took time off after covid hit us are now coming back to the office now that their free money's run out. and chat a.i. is laying off people left and right.

i think we can clear the inflation hurdle tomorrow morning. again, only by a few centimeters, though. finally and this is a longer-term problem, we've got to solve the debt crisis here i still am -- i believe we'll have more mayhem like we saut last time this happened in 2011 where the real issue is whether the rating agencies downgrade the u.s. debt, not what's happening at the congress now, i don't want it to go that far but you need to keep some cash on the sidelines when we do rally, the last three things i'm talking about, you can do? selling so you get ready for the debt crisis. what has to happen here? first stop listening to the experts who is i we shouldn't worry about not getting a deal like democrats, republicans who come on tv all the time and try to reassure us when they're really out to get us that's the same nonsense we heard in 2011. they were out to get us. they lied to their -- through their teeth. they got away with it. they're pohls. the averages dropped 19%, though, and you got hurt even if there's a deal i don't expect it to come at the 11th hour like last time but if that happens the market may have already fallen a bit from this point. so why not wait to do some buying well, if we clear tomorrow's

labor hurdle then the market will rally however, it will only be a tradable run because there are enough lunatics in congress to ensure that the debt ceiling negotiations go down to the wire, we get another debt -- downgrade by the s&p, and that's going to cause pain. if we do rally, it's short term. i recommend taking some profits. and then steeling yourself for the debt ceiling fiasco. then you can buy more. that's exactly what we're doing for the charitable trust why don't you join the club and find out rather than having me blather on about it? in the end, though, we need the fdic to do something, stop the bank crisis. that's the game changer. if that happens the market can go higher at least until we get through the worst phases of the debt ceiling i want the fdic to act this even they don't understand stocks i do, they should wake up or zblsh they know nothing! >> bottom line once we jump the debt ceiling hurdle i'm feeling much more optimistic about the market i even saw an ipo window reopen. that's right successful spinoff of chemview, j&j's consumer business. we just need to make it through the gauntlet it will happen

gather some money. if the market gets higher. then get ready to buy it back when the politicians make sure that they take everyone and all of your money if you don't play this one right we'll get through this we have for 19 years we're going to get through this one together let me go to jimmy in kentucky jimmy. >> caller: happy boo-yah, jim. >> how are you doing >> caller: i'm doing fine. but right now i'm in the house of pain it seems like from bank of america i'm long and i cannot understand why record profits, record numbers and the stock going down -- >> i'll tell you the truth, it doesn't matter, jimmy, because the level of confidence in banks has been undermined by everybody. and because the fdic has been so poorly doing its job, and believe me i'm going to hound them to the ends of the earth, people like jimmy in kentucky are getting hurt fdic there are 340 million jimmies in kentucky wake up and do your job or hire me and i'll do it for you. we have to get through this before the market can

meaningfully go higher but we will get through it. we always do raise some cash on a rally and then get ready, put it back to work when the pols almost take everything you have. on "mad money" tonight a real snapshot of our economy from snacking to infrastructure and tech to engines. we're getting a read on what's really impacting this market i can't believe we did all this today. straight from the sources we've got some unbelievable companies. we've got kellogg. we've got martin murrieta. we've got shopify. and we've got cummins. what a show. stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc

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not everything was horrible today. just look at shopify, the e-commerce facilitator we've liked so much for so long. with a stock that surged nearly 24% to its highest level since april of last year how'd they do it first shopify reported an excellent quarter, better than expected on every major line, strong guidance for the current quarter. second and perhaps maybe the big story shopify's selling its logistics business to flexport, the privately held software company that helps its customers manage their supply chain. third, sadly they had to announce another major round of layoffs between the logistics sale and the firing shopify's workforce is decreasing by about 20%. at this point the stock's up more than 140% from its lows last october but can it keep running even after today's incredible move? for that we have to go to harley

finkelstein. harley's the president of shopify. we've got to learn more. mr. finkelstein, welcome back to "mad money." >> hey, jim. great to be on the show. thanks for having me >> so harley, first thing i have to ask as a customer, you know that, of shopify i say to myself wow, i don't know, i always loved that i could go to them and say did my packages get delivered? how are things going how will i know that flexport's a good partner and they can do a good job for you >> yeah. so let's start at the top and then drill into the announce sxmts some of the numbers. so today we were introducing changes that's going to change the shape of shopify and really the objective is to bring us back to our core mission, help us meet this massive opportunity ahead of us. and as you said, shopify will be smaller by approximately 20% and flexport, our trusted partner, will be buying shopify logistics. after the earnings call this morning i spent the day with our team obviously a very tough day around here. these are not easy decisions but this is not about cost cutting for us this is really about preparing for what's ahead we want to be much more focused.

we want to be moving much faster as you know, jim, because you use the product, you know, pllz of entrepreneurs and brands use shopify including most of your favorite brands and now we power about 10% of all e-commerce in the u.s. but we need the shape of the company to be such that we can really access this massive opportunity and focus on our core mission, which is building commerce software. that's where we have the most impact now, despite these hard decisions let's just talk about the numbers for a second >> sure. >> 2023 has started off incredibly strong for shopify and our merchants. revenue as you pointed out was up 25% year on year. gme was up 15% year on year. and our attach rate, which is the metric that quantifies the usage of our product, was the highest it's ever been those are great results. and on the bottom line not only were we cash flow positive in this quarter but we provided guidance that we will be cash flow positive each and every quarter this year. so this is my 13th year here at shopify, sort of my shopify bar mitzvah year, i guess, and jim, i've never been more confident about the future of this company and the opportunities we have in front of us. >> very few companies accelerate

in the retail business in particular from q1 from q4 actually, it's quite remarkable. what has happened? because as you know there are a lot of other companies in your business that things have slowed dramatically in different parts of e-commerce -- no, actually, everyone has except for meta. so what's going on at shopify that you're accelerating >> yeah. there's a couple of things happening. first of all, the types of merchants that are coming in, we have millions of stores on the platform the vast majority of them are small and medium sized businesses but in the last couple of years we've added mattel and heinz and zulily and glossier and steve madden, athletic greens, mira by lululemon launched a couple days ago, butcher box we're beating much larger brands to shopify that's the first thing the second thing is the suite of products we're offering, it's interesting. four years ago to the day i was in your studio with you at your old studio and i told you that we were launching shopify capital, our capital business.

at the time we were doing about $500 million of capital. four years later we've now done over $5 billion of capital. we have a point of sale public that's powering banner public home and eck winn okay in store. that's grown 30% year on year in terms of gmv we have shop pay which i think your favorite check, certainly mine it's the best converting check on the internet. $9 billion in q1 we have things like audiences which is helping our merchants access more customers and optimize their return on ad spend. so when you look across all the suite of products what you see he is shopify really is providing this incredible service which is a retail operating system to millions of brands and stores around the world. it's not just more merchants and larger merchants it's also a whole suite of products again, a somber day today because we had to say good-bye to some of our team members, but the objective is to get shopify to a shape we can really execute over the next decade >> i want to talk about emp empowerment for a second you went over a great number of points i've always felt that shopify is my partner if i'm in a jam it's my partner.

you are rooting for me talk about the innate culture. i know it was a tough day for you. but for your customers it continues to be a great day to deal with shopify. >> yeah, one of the things we're trying to do is we want to democratize the building process of entrepreneurship. entrepreneurship we think is this wonderful way for people to commercialize a hobby or to make money, to put food on their table. in times -- in tough times people are looking to supplement their income or replace their income if they no longer have a job in some of these difficult macro environments shopify provides you with the best way to start a business now, what we also care about is how do we give small businesses the tools that historically only the biggest companies could afford how do we give them payments rates? how do we give them capital? how do we help with things like cross-border checkouts, they can sell all over the world with shopify markets? what would happen if everyone who had an ambition was able to take that ambition and build a company? what we've seen if you look at some of the homegrown success stories, the gym sharks of the

word, the aloe yogas of the world, the figs of the world, some of these are now category leaders and they started at their mom's kitchen table just a few years ago. if you democratize by giving small businesses the tools these incredible companies can get built and i think the world is better with more entrepreneurship and that is our core mission >> now, i do want to know exactly if things get tight, if the rates are high, if credit gets harder to get, shopify will be there for me? >> absolutely. one of the things that talk about shopify capital, for example, we're able to make much better underwriting decisions because we have so much information. seeing your business we don't just see your beacon score, why you are credit score and your transactions. because we have more information we can make much better underwriting decisions to give you capital to you can invest in things like inventory and you can buy more advertising the audience product is this incredible product because if you're buying an ad on any major surface area we integrate to google and meta and instagram and more recently pinterest. we can tell you what a sample audience may look like

therefore, when you're playing those ads on this ad platform using our machine learning we can actually anticipate a sample audience so you have much better targeting so you have a better ad spend these are things that were impossible for small and medium size businesses. >> i always like to play with an open hand and reveal shopify is our provider for my wife's mezcal and you do a remarkable job. i don't mind saying that because it's true. that's harley finkelstein, president of shopify tough day but also a good day for shareholders, we have to acknowledge both thank you, harley. great to see you >> thank you, jim. appreciate it. >> "mad money's" back after the break. >> coming up, honey, is the milk still good earnings are out for this packaged goods stock a walk down the cereal aisle is next introducing the next generation

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now that everybody's terrified of a recession you need some packaged fooz exposure this group say classic safe haven especially now that the industry's input costs are falling. but the prices to you don't come down the iconic snack and cereal maker. last year when kellogg announced plans to break itself up by spinning off their slower growing cereal business in order to become a pure play on snacking and other higher-growth products stock's been rangebound since then i don't know why that is i think it's an enticing story. this morning kellogg reported a solid quarter 13 cent earnings beat sales up 10% year over year even better they raised their full year forecast yet the stock didn't get any credit actually selling off a bit in large part because it had already run up into the quarter so we have to ask ourselves could this be a buying opportunity. let's take a closer look with steve kaling he's the chairman and ceo of kellogg. welcome to "mad money. >> great to be with you, jim, thanks for having me >> i'm so glad you're here because you're going to answer a question i think is not correct.

one of the analysts who has a neutral rating said we want to stay on the sidelines without a better sense of potential upside post split i think that that's exactly the wrong point of view. i think you should be committing now given the fact the split's going to unlock so much value. do you agree with me or with the analyst? >> i agree with you, jim i mean, obviously if you want to wait to see what happens you're going to be caught on the sidelines when the gain advanced i heard somebody say today that we're rangebound, we're a deal stock. i think we're a really good deal because when we unlock this value if you wait to see it happen it's going to be too late we're very convinced with a high degree of conviction we're doing the right thing and our shareholders are going to benefit greatly. >> i think both the snacking company and a cereal company may not necessarily -- should be in the same group in america at least. would you expect both of these companies because they'll have good balance sheets to begin to

spread out there are so many aisles of the supermarket related to snacking that it could be a terrific opportunity for you. >> it absolutely will be, jim. and when we separate the two business they're both going to have very solid balance sheets if you look at our net debt our net debt as a total company has been coming down we're starting from a position of strength as we set these two up and as you said we look at our kellonova business which is going to be our international snack business we've benefited from acquisitions in the past all the way back from 2012 when we purchased pringleses we doubled the pringles business under the kellogg's business our latest acquisition rx bar which has done very well which was an add-on in a nice white space. we'll continue to look for those opportunities. we've got strong routes to markets around the world so there's a lot of synergies, a lot of capabilities that we have as we think about organic growth but also as we think about inorganic opportunities. >> can you tell us about the inflation situation? because you've had a lot of inflation, you've had some

really big numbers but they've been helped by prices going up is there a moment where some of your raw costs are going to come down nicely but you'll still be able to keep some of those price points because people love your brand so much? >> yeah, it's a very good question what we've seen as you know is inflation like we haven't seen in 30, 40 years. we've been able to price for that volume's held up very nicely you know, we're talking about high teens price increases and in north america our volume in the first quarter was down less than 1% in our asia region it was actually up. and as a total company down less than 2%. when you're raising prices in the teens that's pretty good so as you look into the future per your question will we see deflation? we should. we don't see it yet. but what we've seen is inflation has not continued to rise. and so as the opportunity for falling costs, input costs, comes in we have to continue to delight the consumer so that we can actually hold on to our margins, even expand our margins going

forward. and you've heard the same thing. there's the school of thought out there that it will all be promoted away. if you delight your consumers, if you innovate, if you go to your customers with really winning plans, our consumer has shown that they're resilient, they're willing to pay these prices we have to just continue to earn these prices no matter what happens to input cost inflation. >> okay. we have in front of us some of your tastiest things i tell you, i went on a big fishing trip all you ever do is take pringles on a fishing trip. you don't want the big bag of chips. and we've got the knew ry grain which are so delicious but some might say those pop-tarts, those aren't what i want, i want plant-based, i want stuff that's good for you. in fact, you and i have talked about the tremendous really i with say multiple, multiple different brands much plant products that are so good for you that i want you to talk about because you almost spun them out by themselves >> we did. we've got morningstar farms, which is one of the greatest

brands in the plant-based space, one of the pioneers in the plant-based space. we did look at spinning that off as part of the transformation that we're going through and that was when there was really outsized valuations that our own shareholders were not benefitting from of course it was our duty to look at that since then valuations have come crashing down and you're seeing a shakeout happen in that plant-based space and we have a high degree of conviction that morningstar farms will be a very strong survivor as this shakeout continues. because to your point the mega trends behind plant-based eating, which are a care for the environment, a care for health and wellness, all things plant-based, sustainability, those are mega trends that are going to continue. that will change the way people are making choices around what they're eating as this shakeout happens morningstar farms will be a strong, strong competitor. we'll be left standing and will be a great part of our portfolio. >> in the-time if you want

income you're going to be given a pretty good opportunity with cereal, correct? >> there's no question the cereal business has recovered very, very nicely. during the pandemic people rediscovered the joy and the versatility of cereal. we had some issues ourselves with a strike and a fire last year that we're coming through very nicelist. the business is doing very well. we've got iconic brands. frosted flakes froot loops. corn flakes that consumers absolutely love. we continue to invest in them. they're strong, profitable brands a great category one of the highest penetration categories in the grocery store. and so we're very excited about the prospects of that business going forward. >> i think if you wait for the split you're going to miss a big part of the move but there will be more to it after that too i love this idea and i've loved it be since the moment you mentioned it that's steve cahillane, president and ceo of kellogg which is splitting into two very about companies.

i do favor the snacks but if you want income you should favor the cereals. "mad money's" back after the break. coming up, is this stock worth more than the sum of its parts? after posting record revenues this quarter, cummings joins cramer next lomita feed is 101 years old. when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com. ♪ imagine, a car that goes as far as it does fast. as sleek as it is spacious.

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cummins is a heck of a lot better than that on tuesday morning cummins reported a magnificent quarter we're talking an 83-cent earnings beat off a $4.72 basis, 32% revenue growth, management raised their full-year forecast substantially. plus we think cummins can be a long-term winner thanks to its leadership in low and zero emission engines it just may take some time before wall street's willing to acknowledge those kinds of positives and that's your opportunity. earlier today we sat down with jennifer rumsey. she's the president and ceo of cummins. to get a better read on the entire situation take a look. >> miss rumsey, welcome to "mad money. >> thanks, jim great to be here >> oh, thank you so much i've got to tell you that the evolution if not revolution of cummins is extraordinary before we get to the actual numbers let's talk about your decarbonization efforts because you lead the world in what i regard as being an area of

pollution that we're all quite familiar with that if we follow your take we might even get rid of >> yeah. the reality is it's a challenging time in our planet with global warming and we also see that challenge as a real opportunity for cummins. so decarbonization, our strategy we call destination zero, is an opportunity to grow and evolve the company and we're focused on doing that by both reducing co2 from engine-based solutions, developing alternate fuel, versions of those engine-based solutions as well as investing in accelera by cummins our business focused on new zero emissions-based solutions like battery electric and fuel cell electric powertrain. so a lot going on and a variety of things that will be needed to serve our customer application zb >> let's talk about accelera because i think it is so exciting you are basically any way that can be done that's clean i love your hydrogen efforts but what i thought was most important was our country has some emission changes coming in

2027 and it's not like your company's going to be rushing to get them i think you're doing them right now, you're facilitating to make sure anyone that buys a truck right now will be in compliance. how are you capable of doing that given that other truck companies are scrambling >> we have always focused on ensuring atha what we're doing is leading to a cleaner, healthier, and safe environment. the need to decarbonize also creates value for our customers. if there's less co2 emissions that's less fuel that they're using and with the cost of diesel fuel in the last several years they're very interested in solutions that improve fuel efficiency we also have customers that want to start testing and trying and understanding these alternative technologies like battery electric and fuel cell electric. so we have a number of battery electric boxes in operation today and we've announced we'll continue to produce those with our partner bluebird we're putting the technology out

there because it allows our customer to get experience, us to get experience, advance the technology and then of course be ready as regulation drives adoption more broadly. >> in the meanwhile, around the world there is a tremendous desire, interest and need for more engines of all kinds. not just truck engines you just revised your earnings up it seems like that guidance is improving all around the globe if you could give us some of the spots that you are surprised about yourself or are most encouraging so people might think i want to be in cummins both because it's decarbonizing but also because it's making a lot of money >> yeah. so we are coming off of our first quarter earnings announcement earlier this week where we announced record revenue, ebidta and earnings per share for the company. and we raised our guidance for the year and we're really coming out of two years where we've had a number of supply constraints that have limited our ability to meet our customer demands. our products are performing well

in the field there's been a lot of use of those customers and they have aging fleets they want to replace the trucks. they want to buy new equipment so across most of our markets we continue to see strong demand today. plants producing at capacity and china, which has really been the market over the last year and a half that has been down is starting to show some signs of improvement. so even there we showed some improvement in q1. i'm paying attention of course to those broader economic indicators but at this point the focus really is on meeting the demand that our customers have placed on us. >> using the term pay attention reminds us that we had on meritor when it was still independent. and i paid attention and i couldn't believe how fantastic it was doing and how people didn't care. it didn't have any sex appeal. it wasn't apple. it wasn't google but you saw it the acquisition, from what i can tell the numbers are extraordinary about what you've been able to do with meritor >> yeah. we were really pleased to

acquire that that was my first week as ceo when we closed that acquisition in august of last year we believe it adds a complementary component in the powertrain to cummins' business. a lot of commonality and customers andvalues between th company. and an ability for us to offer a broader solution to customers today with their brakes and axles. as well as the e-powertrain technology in some of the work they've been doing in electrified powertrains that we think positions us in accelera to provide a broader solution for our customers there as well. >> and if i were at the advanced clean transportation expo today, what would i see from cummins? >> well, i'll tell you, i didn't have the chance to go there myself, but i was at one of our global shows in europe last year, and it's amazing to me how what cummins is doing today has shifted from where we were pre-pandemic four or five years ago. we're offering a whole variety of different solutions focused on decarbonization and meeting our customers' evolving needs.

our customers have different applications there's not one solution that will meet all their needs. they're not all going to move to alternate technologies at the same time. and cummins is really positioning ourselves to bring the right technology to them at the right time and to be a trusted partner that can help them figure out how they navigate a change that will happen in the coming decades >> well, i must compliment you i've always loved cummins. we saw cummins i guess more than a decade ago you always made the best engines. but now you make the most thoughtful and best engines. i want to thank you, jennifer rumsey, president and ceo of cummins. i'm so thrilled to have you on the show >> thank you, jim. i really appreciate it >> okay. "mad money" will be right back >> announcer: coming up, what's on your mind, cramerica? give us a call the "lightning round" is storming the nyse. next

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it is time it's time for the "lightning round" on cramer's "mad money" -- play until you hear this sound and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round" on cramer's "mad money." i want to start with katie in florida. katie. >> caller: hey, cramer boo-yah. this is katie jar miller in palm beach gardens, florida and i'm calling you in regards to stock ticker imgn. >> i've been waiting and waiting and waiting. they've always had some very good people, anti-cancer, and looks like they've come up with something. it's targeted. and i've got to tell you, if it's real the stock's got another four or five points on it let's go to rajish in

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look at one of my old favorites, martin murrieta materials run. for a while i've been recommending the infrastructure play because all the federal spending on this play is finally about to start coming online martin marietta materials makes building materials aggregates, concrete, cement, asphalt. these are natural winners. and don't you get bored because making money is never boring sure enough when the company reported this morning they shot the lights out martin marietta earned $2.16 per

share. that might be the biggest beat i've heard since the year began. and that's how the stock jumped more than 5% on an otherwise very tough day for the market. can it keep running? i'm betting it can let's dig deeper with the chairman and ceo of martin marietta materials to find out more welcome back to "mad money." >> it's so good to be back and good to be back in person. >> it sure is. i was thinking about you i was down in washington speaking to mitch landrieu, the czar of infrastructure, and i got the feeling we're not looking for one good quarter or two good quarters or one year. we're talking three or four years of infrastructure money that you're going to do well with >> jim, i relieve that's true. we've got this wonderful multiyear highway build reauthorization. we're seeing good federal spend come through the contract lending, if we go over the last let's call it four years and look at a compound annual growth rate of around let's call it 3 1/2%, now we're seeing something closer to 16 1/2% in the trailing 12 months we're entering a new phase but

we're overdue. >> yes, we're overdue but i'd point out that right now mitch was saying it is the non-permitted products, which by the way you have stuff that have gotten through, but the permitting when we get the big jobs that's when we're really going to need you. >> that's precisely right. and we're going to see a lot of big work because what happened, let's keep in mind we went almost a decade and a half without a long-term build. we did a lot of maintenance and repair but there are a lot of parts of the country that have been growing that need to have more capacity added today, and that's when our company can really shine >> if that's the case that could be one of the reasons why both aggregates and cement you're beginning to make the money you be deserve sometimes you under -- frankly you can't get your -- you can't get price. right now it seems like it's in the sweet spot >> it is in the sweet spot inflation last year hit very

aggressively it took us a while to catch up with that. if we're looking year over year at 23% pricing up in aggregates, 32% up in cement and it makes for what you said, a very attractive first quarter, but we don't think it's a one quarter story. >> i know a lot of people are worried about commercial real estate i always say look at these gigantic housing developments. this is where martin marietta is most needed. and housing's incredibly strong in this country. and we maybe need anywhere between two and seven million more homes you play a role every time a development occurs >> multifamily is keeping it relatively strong but if we go over the last decade we'll see structurally underbuilt single-family housing and when single-family housing goes the non-residential tends to follow. and the states that we very intentionally built our business, populations are flowing into >> let's talk about states i was so relieved when i heard your conference call, all of those areas that people are really starting to expand.

texas, north carolina was a state that you liked to call out the areas that are strong. and yes, california, a lot of people feel it's hard to build there but you are defying that >> well, there are a lot of people in california they have got a lot of roads in california so building will continue and there is a very robust infrastructure program there as in texas and north carolina my home state of north carolina has now started dedicating certain amounts of sales tax directly to infrastructure because they recognize they have to do it >> you told me georgia did that and one day all the rest would follow i guess they're doing it >> they are doing it and there's this clear view that there's been an underinvestment in infrastructure. >> yes now, i have a map in my hands. again, i recall whenfrom when we used to look at a map and it was this little area here. you're everywhere except a couple key states in the northeast. i haven't seen your balance sheet this clear in a long time. are there potential companies that you could buy in these areas either for cement or

aggregates to cement your hold on america >> inni inaggregates we're going where the people are going because we're not a discretionary -- >> that's a good point and the people are heading south. >> the people are heading south. and we speak of that and cement that's a strategic business and that really means texas for us for all those same reasons, jim >> how are you in terms of -- a lot of people might say to me how could you not ask him about whether it's cement use az tremendous amount of energy. rocks. moving rocks from one place. florida doesn't have any rocks what are you doing about diesel fuel what are you doing about trying to keep the skies clean as you move the rocks where they have to be? >> well, we're doing several things we moved more stone by rail than any other producer in the united states 30 million tons a year are moving by rail to areas of the country, to your point, that don't have indigenous stone. the other thing that we're doing is we're being very careful about how we provide power to locations as well. so we're looking at wind energy. we're looking at solar energy.

we're looking at alternative fuels. and we're also constantly making sure that our fleet is right sized. so if you think about these big haul trucks that we use in quarries, depending on what size you sues will determine the number of turns that you have. so we're very focused on making sure we're doing it the right way because we're like you, we want clean air, we want clean water and we can do that >> when you have, say, the pennsylvania department of transportation or you have caltrans, these entities now demand this. and you're ready for even the most stringent environmental concerns from all these states >> we can absolutely meet those. and part of what you'll see if you look at our growth profile is we bought more businesses that have degrees of recycle as well so number one, we have a long-lived preserve body that we can mine for the next 70 years at today's extraction rates. at the same time if we use recycled concrete, if we're using recycled asphalt, number one, that's good for the environment. number two, it extends the reserve life of our very important quarries >> if people are watching and you say, these infrastructure

bills, they spend so much money, the democrats this, whatever, hey, how about making some money yourself on it how about buying the stock of martin marietta materials? ward nye, chairman and president of marietta materials. i like to say there's always a bull market something, i promise to try to find it for you right here on "mad money." >> hello. tonight the bank crisis rolls on. the stocks take it again. some investors are buying bank stocks. we will show you who. >> can apples a big earnings savior stocks. bernie sanders once entry-level workers to be paid a lot more than they are making now and work less. details ahead. president joe biden meeting with tech ceos over ai threats.