define your risk, look out a couple months. >> so much o.a. in the show, too. >> why wouldn't you? >> thanks for watching "fast money. see you back here tomorrow at 5:00 "mad money" with jim cramer starts right now 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. a special west coast edition welcome to cramerica other people want to make friends. i'm just trying to help you make some money my job isn't just to entertain but to educate and teach you, so call me at 1-800-743-cnbc. or tweet me @jimcramer. let tme say that buyers

ever everywhere have decided that bonds don't matter it's like they don't care about the debt ceiling negotiations at all and they're not the least bit daunted or worried about a possible government default. we finally pulled back into the close when bond prices fell and rates moved noticeably higher. dow ultimately closing off 140 points, s&p inching up and the nasdaq advancing 0.5% so is today's action right is it possible the whole debt ceiling standoff is meaningless? that is certainly what the market seems to be saying. look at what went up the stocks of companies that don't have much money, the ones that reported terrible quarters, the cathie wood kind of stories about no profit, just future growth in so-called out years. the buyers of the stocks of these companies seem indifferent including the nasty debt ceiling talks.

here i'm talking about cybersecurity and companies that help others do their jobs better i can't believe it wouldn't be hurt by a default but the market seems to think they'll be fine no, they'll be better than fine then there's a second group of stocks that valleyed hard, the companies hurt by the threat of artificial intelligence. we're seeing so many tech plays threatened witness a stock like that of 5-9 which is a clout-based call center that could be replaced that's in the crosshairs of generative ai. now it's soaring, the reveck of human intelligence at least today. long-term i'm betting on machines, though what could hurt? this is really interesting it's the classic growth stocks that could hurt, the ones that used to rally on fears of a government default, pepsico, general mills, procter & gamble. they've had gigantic runs. but now they're being annihilated so the market will take the debt ceiling debacle in stride and it won't slow down

the economy even if talks break down now, you don't see the stock of pepsico down 5 bucks unless wall street thinks the economy is about to roarment same with hershey which the sellers finally got to there is another which to look at it. a broker's firm suggested year over year comparisons for these companies could be not so hot. now, i disagree. their costs are coming down hard but haven't managed to cut prices at all. they're in the sweet spot even if we crash through the debt ceiling deadline ultimately we need to ask ourselves, what works if everything goes wrong with these negotiations well, simply be another reason to buy growth stocks with little in the way of earnings what industries would really be impacted by the government defaulting on its debt payments? anything real estate should get killed long-term interest rates should soar making it insanely expensive to get a mortgage. the home builders did take it on the chin today second, the pain should extend to banks banks will take their cues from

treasuries and won't know what to do if the government can't cover the coupon payments. we have a mixed picture, the troubled pac west raised money to save itself that's not about the debt ceiling. third, utilities that need to borrow money one look at dominion, 52-week low, will tell you what could be occurring. beginning to worry if the 5% yield is safe. finally any company that needs credit to sell goods like heavy machinery, aircraft parts, autos, they should be -- they could be momentarily hurt. maybe that's why ford's stock did nothing. if though the ceo xhirted to i asharply higher number than wall street was looking for, i think the market is understilting their cash flow generation you see the stock of tesla that's not quitting. i gave you an eclectic group that the market says avoid but if the government defaults, any company that needs credit instantly could be a possible pain point i get that but if you don't need the bond

market, if you don't need credit, today the markets said, look out above why? let's think about why the growth companies with no earnings could do so well with many megacaps doing well there are a few potential explanations first while the real economy could get hurt by a debt ceiling implosion the new new economy probably doesn't get hurt. these tech companies don't care if the government isn't functioning or people don't get their social security checks they have zero expose sure to that they aren't hospitals that might not get paid if medicare runs out of money all of those are possibilities instead these are companies that many cases already screwed up at least when it came to reports. i saw a lot of short covering today. upstarts moving higher despite credit issues. if you screwed up and came back a fiasco can't hurt you. quizzical. by contrast the big "techcheck" companies doing well actually

sold off when interest rates started rising today the most speculative stuff at work there's another view and this is a cynical one that i'll put out, this one has little to do with the nitty-gritty of the government this says who the heck cares it's all fear. the standard & poor downgraded the debt in 2011 and turned out to be a colossal buying opportunity and jpmorgan put out this piece about the negatives that could occur if our government runs out of money, technical default seen as lowering treasury yields but steepens the yield curve the auctions could be postponed. maybe treasuries can't be rolled over maybe the ones that missed payments could be repaid, maybe they can't be. some sort of compensation, money fund also have to do what they can without redemptions but it won't be drastic i mean that's all the stuff just swimming so many permanent that they'll

themselves in a real jam, but it should be a jam that can be sorted out maybe that's what the market is saying, no, you're not going to see a real country run out of money but america is known as a dysfunctional nation purely because of our venomous political environment. we don't want it to affect the dollar but a ten-day hiatus, it probably won't impact things but everything else except for stocks if you go through the analysis you think to yourself what does this have to do with the price to earnings ratio to bristol-myers. avoid looking at anything but the earnings of companies. the bottom line, the simple truth is that in the absence of actual numbers being cut, maybe nobody cares at least for the moment giddiness seems out of place with what could await the overall market, both stock and bond, if we don't solve these problems before the government really does run out of money

let's take calls and go to ken in nevada. ken. >> caller: hi, jim been a long time listener and first-time caller and have a question about cummings, bought it a few weeks ago looked like the last two quarters have been doing very well, but the stock has been dropping >> yield is 3% ken, i got to tell you it's a great american industrial. the problem is the industrials are selling off right now because rates are going higher i have faith that cummins will make a comeback but may be a while. a lot feel the economy will slow down because of the debt crisis. it's hurting the industrials more than any other group of stocks let's go to scott in south carolina scott. >> caller: boo-yah, jim. >> boo-yah >> caller: how are you >> doing well. how about you. >> caller: good. thank you. last week you mentioned five defense stocks, and all of them have had a pretty decent run in the last couple of years but one looking out for and it's been on

a steady decline for the last year i'd like to get your take on why that is and if i should be buying in now or waiting for something else the name is l3 harris. >> this is an amazing decline in the stock because it's exactly the kind of high tech, so to speak, that the government wants all the military to adopt but this is a company that is viewed as being right in the crosshairs of a possible sequester of the defense stocks and that's why i think it's having trouble finding its footing at 15 times earnings i think you'll do fine, though it is too cheap. ann in indiana ann. >> caller: hi, jim as a club member, thank you for everything. >> thank you for being a club member thank you. >> caller: i'm just, you know, having some self-doubt here, wondering if i should be in cths with exposure to natural gas, a ceo staying, yada, yada instead of pioneer or core holding.

>> it is terrific, ann look at how it acted today with natural gas down their natural cost dollar is $1. they're still crushing it. coterra at one point was at 26 and change still stay long that stock and thanks for remembering the club. bob in florida. >> caller: thanks for taking time to talk to me how are you doing? >> doing well. how about you, bob >> caller: i'm fantastic i'm a club member. we missed you this morning glad to talk to you right now but, hey, i had a quick question on marriott with the travel industry being so bullish in margin increase, do you think it's a buy here? >> this stock down $4, i like very much, thank you for being a member of the club it's a last bastion doing well because travel is doing well i also like the cruise ships but this one is a good one i would stay long, marriott. the simple truth is that in the absence of actual numbers being cut, maybe the market is saying nobody cares about the debt

ceiling after all? at least for today on "mad" my stance on apple, what should do within apple supplier like skyward solutions? i'm checking in with the ceo then i'm always on the hunt for the next big bull market what sector could set itself up for a major rung i'll reveal it and you'll like it a host of questionable market headwinds could a utility like this be a way to get defensive and get growth i'm talking to the company's top brass. so 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 email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something, head to madmoney.cnbc.com.

stocks have caught fire and wall street is anticipating a major turn in the industry not all semis are created equal. take skyward solutions this huge exposure to smartphones but the internet when they reported it was solid. guidance came in light because of weakness in android-based smartphones. after the pullback it sells for 12 times earnings estimates. even 2.4% yield although up 12% for the year so could this be a buying opportunity or do we need to be worried about the android business let's check in with liam griffin, the chairman and ceo of skyward solutions in l.a better read the situation. welcome back. >> great to see you on the west coast. finally we get to meet in l.a.

>> i need your help. i've always gone to you when i dried to understand how the industry is doing. it seems like there is a bit of a lull we know androids have some problems other customers that's hard to talk about but near term there are concerns, maybe related to china, but longer term, this is just the right time to be in skyworks >> absolutely. i agree. the markets have been bumpy. we understand that we have a very good view of where we see over the next few months and next few years and tell you the opportunity for us is vibrant and compelling. >> so if i look at what's going on in china or the united states around -- it's entirely possible we could have, say, a cyclical downturn, but not a deep one, because the demand is there, particularly among the people who don't have cell phone. >> yeah, exactly so a couple things we do believe we'll come out of this cycle and the stronger companies will actually outperform will be one of those and there will be others i think the market is going to

correct for that as you go forward and noted, the value and the utility of the smartphone continues to grow and the opportunity in the performance and in all of the applications that we can bring forth are really going to be compelling >> are you seeing a slowdown right now. >> we are. >> you are >> but it has been baked in. it's been baked in and communicated with our guidance and we're completely heads-up on that but as you noted, the more compelling opportunity and the more long-lived opportunity is connecting the unconnected we've got 7 billion people out there and 2 billion people with no connectivity at all. >> why are we focused on china when we have 1.4 billion they have great systems there and not thinking about where india which has a similar number but a much younger group demanding to be online and you are part of everything. >> it is a great case study. there's another market where you have great penetration in some spots but the lion's share of

opportunity in india is still there and hasn't yet been connected. i think the utility and the opportunity from health care from education and entertainment, all of those things. >> artificial intelligence. >> yes, let's look at that. >> does that use a lot of your products if i want to be connected and have it so it's quick what does skyworks do for me that i need versus what anybody else does? >> great question. when you think about environments like ai and technologies like ai, they are a step function ahead. very, very, very high level of compute. and processing power and so one of the things that's really important about mobile device is power consumption, energy consumption. ai is going to generate tremendous amount of processing power and typically wired in it's wired into a data center. mobile, you're unconnected so the precious milliamps you're using in current is vital. that creates a tremendous opportunity for skyworks we know how to hit the fastballs, jim we know how to handle the tough

problems so bringing in ai, it's going to happen and change the game it's great for us because we're the company that knows how to make that work. >> now, you have your own fabs what i understand is that your cash flow generation is superior pretty much to everybody that i talk about all the time, sure, everybody has great stuff but in terms of making money, you guys make the most per device >> absolutely. and we've been very, very disciplined on that. we're going to deliver $1.1 billion of free cash flow 1.1 billion. we're going to deliver $700 million to our shareholders in dividends and buybacks this year so the cash generation engine is continuing to fuel and continuing to drive upside to our shareholders. >> what happened i have to ask, what happened to android? they're unstoppable. it's got to be just a brief lull for them >> yeah, it's a difficult market there. there are some players, samsung is doing better and google, by the way, is still a great opportunity. >> okay. >> very, very powerful opportunity. some of the lower end players in

china, we still work with them but the aperture is more narrowed lately. i think that will turn but, again, we'll go where the dollars are and where our customers need us and are in the markets that are ready to roll. >> your stock is too cheap you know that. there are types when i think it's expensive this is not one of them. that's liam griffin, ceo and chairman of skyward solutions. we've been behind it since it was at $5. "mad money" is back after the break. >> announcer: coming up, there's always a bull market somewhere gramercy and the offices of dr. device we explain next introducing the next generation 10g network only from xfinity. the future starts now.

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able to achieve it so now i can teach you so that you can be as ambitious as you want about whatever you want to do. cnbc is my home. if you love your work, maybe it's life itself ♪ there's one thing we've learned this earnings season it's that we have a genuine bull market in medical devices. for years this industry was terrific long-term place to find winners but the pandemic hit and nonurgent surgeries were delayed. in some cases for years until we got covid under control. now, finally, we're seeing an uptick in the in he had cal device business. this last year it didn't do much to help the stocks because they tend to be growth names and growth was so out of style now it keeps recovering and a more growth-friendly marketing is making sure they get their due. great quarter after great

quarter and the first clue came on april 12th when we heard from audience favorite inmode that makes devices for cosmetic surgery. they have a pretty terrific set of numbers then we had their ceo on and i thought he told a great and encouraging story. inmode sells hardware and consumables so sales are a bet indicator of demand. sure enough when inmode reported full results earlier this month their consumables was up an astounding 43% in the first quarter. that was fantastic but because they left its full year forecast unchanged the stock got slammed in response, quizzical i think management simply is being conservative in borrowing. it's good. next april 18th. j&j reported a great quarter for the medical technology division up 11% on the currency basis and

contact lenses, wound closure products and artificial knees were key sources of strength and we heard a similar story from abbott which posted better than expected numbers and neither is pure play on medical devices but j&j j is closer after its recent spin-off regular viewers know i'm a big fan of theirs even if it's not gotten much credit still owning the bulk of the business it's all about talc as in the lawsuit about their talc's possible link to ovarian cancer. that litigation risk is the real news it's not earnings. i can't ever recall a time when j&j has been this inexpensive ever which is why we own it for the charitable trust and i think it'll come out of it within the next few months. how about a medical device pureplay, intuitive surgical

they reported the same morning as j&j the two have sold roughly the same number of systems the year before worldwide, they were up 26% yore after yore and throw in strong guidance and could rally 10% in response. by the way, that fabulous intuitive surgical wouldn't have come to you as a surprise if you were a regular watcher of our show we had their ceo at the beginning of march he came on, told a very bullish story, yes, the stock is up 38% since he was on. next up on may 1st we got results from striker that's the medical device company best known for its orthopedic implants and delivered a comfortable top and bottom line beat with better than expected organic growth up 13.6% and when we spoke that t their ceo he said we're at the beginning of a supercycle. i don't like that term that sets up impossible expectations but he made a compelling case. after years where people put off

knees, hip and shoulder replacements because of covid they're coming back this droves. at the same time stryker comes out with better and better products if you want to know which medical device story i'm most excited about at the moment it's ge health care which we bought for the charitable trust last wednesday. if you're not a club member you're missing a tremendous story. ever since it was spun off by ge, it's been on fire up 35% for the year and i know this sounds nuts but it's got a lot more room to run but this company has a terrific d diagnostic equipment division essential for catching and monitoring alzheimer's as the fda approves more alzheimer's drugs we'll need more of these to know if the new medication is working or if you need the medications right now it sells for roughly 18 times next year's earnings estimates and could end up looking pretty cheap if management delivers on plans to margins which i think it will. pulled back from $88, just 79

today. if you get it like abbott or boston scientific call it $91. it's been weak lately but coming back, edwards life sciences and makes devices for the heart and it's all relative where open heart surgery they broke through the chestbone. they had guidance. while the stock is up 20% for the year i bet it has room to run because it's so far down and finally talk about so far down, medtronic, a powerhouse, i want them to come on the show they're showing signs of life up 15% for the year late last month they had price bumps when fda approved their new diabetes management device cramer favored dexcom and abbott labs and now they have a competitor product

that's why i'll watch it closely when they report thursday and see if they have good results before i buy into the story. that's it. faced 17 times earnings. here is the bottom line, at this point it's undenieblg we have an emerging bull market in medical devices regardless of the debt ceiling problem. we've heard the same incredibly positive story from company after company. i think you need some exposure to this industry which is why we own ge health care for the travel trust although a number of the names i mentioned will work i'm just praying we get another debt ceiling related sell-off that drags down the entire market and gives you a chance to buy these companies which are very immune from what's going on in washington and an undeserved discount let's take calls and go to chris in new jersey. chris. >> caller: boo-yah, jim. i'm here with my daughter mikaela. >> boo-yah, mikaela. >> caller: thanks for your vice

on eli lilly my question is should i look to take some of the gains i've had or keep the position with the potential with mounjaro with the clinically promising phase 3 trials >> well, i think that mikaela doesn't have to worry about it but we're a little older i took profits in lilly and the reason i did today is because we are up so much that i knew i had benefits that's what you have to think about. you can't be greedy and i have gotten greedy but i like lilly another sell-off that drags down the market jump at the chance to buy the medical device at a discount they're in a bull market mode and i think you need exposure to it much more "mad money" including my exclusive with sempra with natural gas prices falling where is the lng market going?

i'll dig in with the ceo then two major acquisitions that upon first glance i was excited about but there's something at work that i think investors teed to watch out for almost any deal in the m&a space and "the lightning round" so stay with cramer >> our world is a better place with you in it

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hey, jimmy, love the show. >> my 5-year-old grandson loves to watch his show. >> i have to thank you for making us money when it's there to be made. >> our world is a bitter place with you in it >> announcer: tomorrow, kick off the trading day with "squawk on the street." live from post 9 at the nyse. >> i'll see you tomorrow morning in california. >> absolutely. >> quick break here. >> we'll collude >> announcer: it all starts at 9:00 a.m. eastern. ♪

while we're in california we had a chance to check with our favorite companies like sempra with a huge natural gas kicker with pipelines and liquified gas in the works they've been putting up a series of solid results but the stock is down because of natural gas prices they're not good. that's a mistake the company is set up so current prices mean nothing to the bottom line. sempra has best in class utility assets focused on california and texas. plus, regardless of seasonal seasons of natural gas i'm convinced liquified gas is unstoppable. doesn't hurt the sempra company. don't take it from me but with jeffrey martin, chairman and ceo of sempra. welcome back. >> good to see you welcome to california. >> thank you, jeffrey. there's something i think people don't understand there is such a thing as a growth utility and that's you. >> well, i'll tell you, we've

had this conversation before but several years ago we took steps to improve our capital discipline and simplify our business model which is always the right answer and that's allowed to us return $5 billion to our shareholders over the last three years and at the same time we've blng able to grow our eps alt a 10% clip and have a brand-new $40 billion capital program today. it's going to call for us to grow our utilities at a 9% rate and we continue to think when you put that together with a 3.24% dividend yield it's a compelling story. >> tell me what it's like to borrow money in a crazy market where the treasury doesn't know what it's doing in terms of what they can pay and what they can't. >> well, it always starts with making sure you're financing things as efficiently as possible and starts with maximizing your operating cash flows and then for big projects, we like to source debt and equity at the project level but our goal long term is to continue to grow the business, source capital efficiency and

make sure we're returning a steady dividend. >> a lot of peopleow they're ju make me feel like they're convinced that they're clean you have thi sck i read every inch of it. you got rid of coal. decarbonizing for years and about climate risk built into the strategy this is not the way most people think. >> well, i'll tell you, we made a decision five years ago we wanted to focus on infrastructure, not the commodities side of the business and this allowed us to get more income and be a leader in esg. what we're trying to do is help america decarbonize our grid at home and make sure in foreign countries as they adopt renewables and clean energy they can use complimentary fuels like natural gas to help them decarbonize more quickly. >> how come you among all the executives i talked to has a good relationship with mexico.

your $10 billion seems to be just doing great for you >> yeah. it all goes back to this idea we've been investing down there for close to three decades, principally in energy infrastructure it's a consumer market with 130 million consumers and one of the fastest growing markets in the western hemisphere the government around their priorities, that country is short energy infrastructure and will continue to makthr success. >> all right, so how does jeffrey martin deal with the fact that you've got texas, which is a tough market, and it is a carbon market, and california which is an anti-carbon market under one roof how do you do it >> we're not focused as much on the commodity but infrastructure focused. in texas we branched a $19 billion new program and our investment there is a wires company only so whether renewables are taking market share or natural gas is taking market share, we're going to

continue to expand the grid to allow new sources of energy to come on board and make sure we're supporting a growing economy in texas >> that's why this fixation on the price of natural gas in your company is wrong, right? >> absolutely. i think that's right. >> okay, now i need you to talk to me about hydrogen you're the only person that seems to have embraced it seriously. >> there is a footrace as to those who can innovate and bring new technology to our sector, hydrogen has a big part in t the biden administration has put forward the infrastructure bill several years ago that dedicates $9 billion to hydrogen hubs. we're an applicant with the state of california to bring a hydrogen hub here to los angeles. and the most recent i.r.a. bill which subsidized it so what you'll expect to see is hydrogen will become an foreign feedstock for industry and heavy-duty transportation we think it's going to be an important fuel source for our

country. >> i don't want to diminish what you talked about memorial day is around the corner you're a veteran west point grad and how has it impacted you >> i would start by saying memorial day is our country's tribute to the men and women that made the ultimate sacrifice in the u.s. armed forces i look become on my time in the service and i'm obviously very proud to have served you have to remember this is an all volunteer force, jim, and we have about 1.2 million men and women in uniform today i'm grateful for their service and grateful to have had that opportunity. if there's one key takeaway i'd share, most people focus on the discipline, learning to have teamwork, taking responsibility, but to me it was really all about this idea that you could serve something greater than yourself so i was a much younger man at that time but feel good about having the opportunity to work with people from diverse backgrounds, men and women, different faiths and creeds and all had one purpose, they loved their country and wanted to make sure that they took the time to

serve. >> well, i want to take the time out to thank you. >> oh, very nice of you. >> you've been a remarkable story and great leader by the way, not partisan, not this or that not wanting a deal among -- favoring one side or the other but just favoring the country, jeff, you are my hero. >> thank you very much, jim. i appreciate it. >> the chairman and ceo of sempra, sre. we've been recommending it like mad and will be right on "mad money" is back right after this break >> announcer: coming up, what's on your mind, cramerica. give us a call "the lightning round" is storming the nyse, next. next up on "last call," the latest on today's meet income washington how one company turned an old school into some very new money. >> announcer: "last call" next, cnbc

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>> announcer: "the lightning round" is sponsored by td ameritrade. >> let's put this historical moment in perspective. >> announcer: when bears growl at the market. >> i know you're tired of it and i'm tired of it. >> announcer: -- cramer roars right back. >> it's abundantly clear right now it feels like to price is safe enough to buy >> ann >> announcer: stocks may be done but "mad money" is never out. >>we're stuck with the fear an it's real fear. >> announcer: stick with cramer and let's find your portfolio's next big winner together >> nothing seems to matter except getting out ahead of the other guy. ♪ it is time it is time for a special west coast edition. "the lightning round" on "mad money.

i take your calls and when you play the sound and then "the lightning round" is over are you ready, skee-daddy? are you ready? let's start with shaun in new jersey >> caller: hope you're doing well. >> how about you >> caller: doing well. thank you so much. wanted to ask about the overall outlook and if they focus on monetizing their -- >> they have monetize their user base every stock that's being shorted is going up so i figure they go up by 10% and then you got to sell wayne in new hampshire. >> caller: i put this company off a couple years ago and looks fairly ogn is the symbol. >> no growth and if it has no growth i don't want to be in it. plain and simple christopher in virginia. christopher. >> caller: hey, jim. first-time caller. thank you for everything that you do >> all righty, thank you thank you. >> caller: this company increased their cash and has

decreased their long-term debt to zero. going on for two years now and do not plan on issuing a dividend any thoughts on dq >> i'm not recommending any chinese stock other than alibaba and even there they reported a weak quarter i'll have to say to on that one, i'm sorry. daniel in idaho. daniel >> caller: hey, jim, how are you? >> i'm good. how about you, daniel? >> caller: pretty good, thanks thank you for taking the time. your thoughts on trimble. >> both trimble and garmin were hurt by google but garmin came up with new products but trimble has not. thomas >> caller: three things for you, i think go daddy's stock, go daddy's site has been breached i tried to get in my kid's pickleball site for three days and couldn't do it number two, i think you should get the nobel prize for

economics. you're the greatest source for common knowledge for stocks for the common man. >> thank you. >> caller: number three, i am one of the best pickleball coaches in america instead of reading the stock prices of every stock, take a pickleball lesson from me in central park. >> interesting concept not there yet but my wife is i gist the question is about go daddy. i'm not a fan. it is expensive and offers little carlos in texas. carlos >> caller: hello, cramer big boo-yah to you, sir. the company i'm calling about is a gaming platform that offers ai down 85% from its peak in november 2021. can i start accumulating this software now on --

>> i say yes chuck in pennsylvania. it's 18% short and could go up i've been sorely disappointed with that company. no longer a company in the future but a company doing badly. bad companies have bad stocks, period naomi in california. >> caller: hello i'm a new jersey girl. >> all right >> caller: i have a question for you about parker hanifan -- >> the industrials are going down but had the best quarter of any industrial i'd tell you if you own it stay on it. if it goes down over the debt dealings i would press the buy, buy, buy button if i had one nick in nebraska nick. >> caller: yes, sir, god's country. how are we doing >> well. how about you? >> caller: doing good. my question is boston of omaha -- >> i looked at it.

it's a hodgepodge pastiche of real estate. not enough there for me to want to pull the trigger. jimmy in ohio. >> caller: big buckeye boo-yah. >> why not. >> caller: from one jimmy c. to another, thanks for taking my call liam, the youngest investor has a question for you. >> is the rally over on fedex? >> time to buy it's great and they have a great quarter. i want to own the stock of fedex. that, ladies and gentlemen, is the conclusion of the "the lightning round. [ buzzer ] >> announcer: "the lightning round" is sponsored by td ameritrade. coming up, has the ftc overstepped their mandate? what two big recent deals will reveal about the government's priorities next >> announcer: tomorrow, kick off

the trading day with "squawk on the street" live from post 9 at the nyse. >> i'll see you tomorrow morning in california. we'll be faced -- >> absolutely. >> quick break don't go anywhere. >> we'll collude >> announcer: it all starts at 9:00 a.m. eastern. ♪ this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as smart...

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bo >> caller: boyo-yah, jim >> i'm learning so much watching your show. >> i watch your program every day. >> i always wanted to say boo-yah on your show. >> thanks for being the greatest in the world. >> we consider you the money market maker and thank you for all you do. >> i love your show. >> longtime fan of your show and think it's the most entertaining program on tv. ♪ >> you've heard about two deals today, chevron buying pvc energy and e and missola. you know what my first thought was, get ready for the federal trade commission to go all out to block both. they seem hostile to any mergers these days i wish i could say that's an exaggeration but the ftc has gone so boever board it's actually a rogue federal agency.

there was a time when the government was way too lax that's how airlines merged ticket prices are incredibly expensive but now it's swung way too far in the other direction in my opinion. think about the ftc's most recent attempt they tried to bock amgen's acquisition of they ar therapeu. one is for gout and one for thyroid eye disease because it might allow amgen to get better redates? is that sound? by that thinking the ftc could block any merger the ftc's challenge to cause amgen to walk away i wouldn't be surprised if the ftc goes after pfizer's attempt to buy c-gen which has an excellent anti-cancer franchise. pfizer would give them that heft

which is obviously bad for the rivals, but good for those who have incurable cancer. at the same time the ftc is suing to block the acquisition of black knight even though ice decided to sell the most problematic part this is the latest in a long list of mergers that the ftc has tried to stop. against the microsoft activision blizzard deal and tried to block meta from tying within on the latter deal a federal judge shot them down summarily even as they tried to argue meta could make a similar product themselves i don't even know what to say about that it's like the ftc treats all mergers guilty until proven innocent there was an incendiary piece where it was argued that almost all mergers are anti-competitive and benefit only the wealthy in the end i don't think khan

cares too much about specifics these are designed to chill any deal yet any m&a activity at all even if it's in the least bit competitive. these two that were announced today, they're competitive with chevron technology in deep pockets and energy could be positive for consumers and might lower energy prices. we need more strong competitors to rival the big investment banks. but i think the ftc will do everything to stop all of it i'm glad the old ones belong to the judicial seen and not 4r6789 ina khan's federal trade commission if you want to know why the market might have a hard time rallying, think of how much money takeovers have made for investors, imagine what happens when the ftc makes it far more difficult to seal the deal lina's an evaluation killer and could be the most aggressive regularitiers in the history of the ftc. i think she wants every merger

stopped. something she can't do without a judge but can make the m&a process time consuming and expensive and in the end freeze it in its tracks if she wants to i always say there's a bull market somewhere i promise to find it right here for you on "mad money. i'm jim cramer i will see you tomorrow. "last call" starts now all right. good evening here, good afternoon out west i'm brian sullivan we kick off the show tonight with some breaking news, we think about the debt ceiling talks. you're looking at a live shot of the white house where any moment speaker kevin mccarthy could address the nation following his meeting with president biden the democrats could also follow up on their own. again, both sides may come out and address the media. or they may not. we just don't know either way, we have about ten days toreach a deal before the treasury department estimates that america risks default or is unable to pay many of its bills. treasury secretary