Mad Money w/ Jim Cramer 10/24/25

Summary

Mad Money w/ Jim Cramer – Episode Summary (10/24/2025)

Main Theme & Purpose

In this episode of Mad Money, Jim Cramer offers his trademark, high-energy analysis to help listeners navigate the landscape of Wall Street investing during a pivotal earnings week. With macroeconomic uncertainty (notably a government shutdown and limited economic data) and a major Federal Reserve meeting ahead, Cramer lays out what’s at stake for investors, previews key corporate earnings, and highlights major trends, stock recommendations, and risks. He also delivers his always-popular Lightning Round and “Am I Diversified?” portfolio analysis.

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Key Discussion Points & Insights

1. Market Overview & Upcoming Catalysts

Timestamps: 01:54 – 10:10

• Earnings Season in Focus:
  With little macro data due to the government shutdown (apart from a benign CPI reading), attention shifts to company-level performance as several giants are slated to report earnings.

  • “You want big, you want important, you want game changing? Then you want next week. We’re approaching the height of earnings season … and these numbers are more important than ever.” (Jim Cramer, 01:54)

• Federal Reserve Rate Decision:
  Cramer predicts a likely quarter-point rate cut as economic weakness (e.g. layoffs at Target and Applied Materials) and a tame CPI justify easier policy.

  • "I think we’ll get a quarter point rate cut. Our economy's stalling." (Jim Cramer, 02:44)

• Stock Market Surge:
  The Dow hits a new record above 47,000, S&P and Nasdaq also set records.

  • “Today’s Consumer Price Index reading … are why the average soared today … It is something to behold here.” (Jim Cramer, 01:54)

2. Earnings Previews & Company Spotlights

Timestamps: 02:44 – 10:10

• Monday:

  • Nucor: Cramer doesn’t expect a blowout, but credits Trump-era steel tariffs for current industry dynamics.
  • UnitedHealth: He expects investigations into billing practices to prove a “non-issue.”
  • SoFi: Notes remarkable run-up, worries about profit-taking.
  • Celestica: Praises performance and chart.
  • UPS: Cautiously optimistic, flagging dividend risk and a binary post-earnings outcome.
  • Royal Caribbean: Standout consumer recover story post-COVID.
  • VF Corp: Sees potential earnings improvement, lauds CEO Bracken Darrow for insider buying.
  • Visa: “A company that never misses and I bet they won’t miss this time. It’s another clockwork stock.” (Jim Cramer, 05:22)
  • Seagate: “Supply constrained – that’s a great thing to be in this environment.”

• Wednesday: (Earnings + Fed decision)

  • CVS: Optimism after Rite Aid’s decline and Walgreens’ retrenchment.
  • Caterpillar: Warns stock may be overextended.
  • Boeing: Sees positive post-charges; highlights as trade war winner.
  • Starbucks: Cautiously expects a “stronger than expected” quarter but modest commentary.
  • Alphabet (Google): Forecasts a “monster quarter led by YouTube, then Search, then Waymo.” (06:54)
  • Meta: “Key on advertising but also spewing the gospel of the Ray Bans that are packed with AI.”
  • Chipotle: Sees make-or-break quarter.
  • ServiceNow: “Nomination for best quarter of the entire week…most AI for any tech service company.”

• Thursday:

  • MasterCard: “Should report an enviable quarter.”
  • Eli Lilly: Warns of potential pullback unless new Zeus product or pill date is unveiled.

• Friday:

  • Chevron & Exxon: “Two laggards linked to the price of crude.”

• Amazon & Apple:

  • Amazon’s AWS needs growth acceleration, otherwise “we’re not going to have a rally.”
  • Apple: “Own Apple. Don’t trade it.” (Jim Cramer, 09:50)

• Bottom line:

  • Cramer is skeptical of the recent unrestrained rally (“there has to be a trick to go with today’s treat”), warning about overexuberance, especially in tech.

3. Call-In Q&A: Lightning Round & Portfolio Reviews

Timestamps: 10:10 – 43:41

Notable Calls and Cramer’s Takes

• Berkshire Hathaway:

  • “Why not just own Berkshire Hathaway? They did a heck of a lot better.” (10:53)

• AppLovin:

  • “AppLovin is loved app, that’s the way I feel about it. AppLovin and Palantir, they almost trade together. AppLovin is a winner.” (11:23)

"Am I Diversified?" Portfolios

• Portfolio 1: Apple, IBM, Chevron, Eli Lilly, Verizon
  “We got drug, high-yield telco, oil, tech: I’m blessing what Leslie’s given us.” (32:12)
• Portfolio 2: Tesla, MP Materials, Palantir, CrowdStrike, GE Vernova
  “He may eat risk for breakfast, but he’s going to be eating money for lunch.” (33:30)
• Other Portfolio Calls: Cramer emphasizes that having more than one mega-cap tech is defensible given market realities (especially Microsoft and Meta).

4. Stock Deep Dives: Consumer Packaged Goods & AI Speculation

Timestamps: 14:16 – 29:10

Procter & Gamble – CPG Focus

• CPG stocks have bottomed, per Cramer, as risk appetite fades and dividend yields attract in a potential rate-cut cycle.
• P&G:
  • “Best of the best … unmatched in scale … incredibly well-run.”
  • Highlights strong quarter: beauty division beat, cost structure improvement, cautious full-year forecast.
  • Cost-saving: cutting 7,000 non-manufacturing jobs, rationalizing product lines, digitization.
• “Let me give you the bottom line here … if you think this group’s done going down, then Procter is the one to buy.” (20:32)

Globant – AI Loser

• Stock’s hugely off its highs due to AI’s threat to custom software developers.
• “There are a lot easier ways to try to make some money. Sorry.” (28:38)
• “Often stocks that seem cheap turn out to be value traps.” (27:43)

Other Stock Q’s:

• CoreWeave: Neutral/hold, waiting on acquisition; likes the company.
• Circle (fintech):
  “It’s a fintech company for the next generation… I’m going to bless it right here, right now.” (30:20)

5. The “Lightning Round”

Timestamps: 38:21 – 43:41

• Cramer gives rapid-fire takes on:
  • Apollo: Likes management, “made a lot of good deals.” (39:00)
  • National Fuel & Gas (NFG) vs Devon: NFG for consistency, Devon for more risk/reward.
  • MongoDB: Likes it, but prefers ServiceNow at current levels.
  • Main Street Capital: Avoid due to lack of transparency and higher risk in economic slowdown.
  • Cameco (uranium): Not speculative, earns money, good business.
  • Vanda Pharmaceuticals (as a speculative pick): “I’m going to bless that one as your spec.” (43:25)

6. Thematic Wrap: "Supply Constrained" is the Key Trend

Timestamps: 43:57 – 47:50

• "Supply constrained" is the most important phrase this earnings season.
  • Companies like Intel, Sandisk, Western Digital, Micron, Nvidia, and AMD all benefit because “when your supply constrained, you have the ability to raise prices. And that’s the holy grail in any industry.” (43:57)
  • Helps explain tech resurgence and stock outperformance.
  • Boeing, GE Vernova, and gold miners are cited as supply-constrained winners.
  • Memorable Quote:
    “In the end, we have more demand than supply in a host of industries, and that’s the ticket for good stock performance.” (47:17)

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Notable Quotes & Memorable Moments

• “You want big, you want important, you want game changing? Then you want next week.” (01:54)
• “A company that never misses and I bet they won’t miss this time. It’s another clockwork stock.” [On Visa] (05:22)
• “Own Apple. Don’t trade it.” (09:50)
• “If you think this group’s done going down, then Procter is the one to buy.” (20:32)
• “Often stocks that seem cheap turn out to be value traps.” (27:43)
• “When you’re supply constrained, you have the ability to raise prices. And that’s the holy grail in any industry.” (43:57)
• “He may eat risk for breakfast, but he’s going to be eating money for lunch.” [On a caller’s speculative portfolio] (33:30)

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Timestamps for Major Segments

• Market/Earnings Recap: 01:54 – 10:10
• Caller Q&A & Lightning Round: 10:10 – 43:41
• Consumer Staples & P&G Deep Dive: 14:16 – 21:00
• Globant Analysis/AI Impact: 22:41 – 29:10
• Supply Constraints as Key Market Theme: 43:57 – 47:50

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Conclusion

Cramer’s episode this week blends excitement about record markets with a dose of caution about speculative excess, especially in tech and AI. He sharply identifies the changed economic context—less macro data, more company focus, and “supply constraint” as the critical earnings driver. With a rapid-fire, entertaining style, Cramer continues to deliver actionable education for investors: look for pricing power, stay diversified but practical (even with mega-cap tech names), and don’t chase “cheap” stocks just for value. If the market’s recent rally is the treat, he warns, “there has to be a trick” ahead—so stay focused and keep your eyes on winners with genuine earnings strength.

Transcript

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[Jim Cramer]

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramer. Other Big Friends. I'm just trying to help make some money. My job is not just to entertain but to educate, try to teach about what the heck is going on here. Call me 107 for 3 CNBC tweet me at Jim Cramer. You want big, you want important, you want game changing? Then you want next week. We're approaching the height of earnings season and this time the earnings are more important than ever. Other than today's Consumer Price index reading, which was benign, we have almost no macro data because this government shutdown and that's created tremendous focus on individual companies right at the moment when those companies keep putting up truly great numbers. Those numbers and the relatively mild CPI report are why the average word today Dow gaining 4 to 73 points, first time closing above 47,000s and P jumping point 79%, 34th record close and the Nasdaq pole voltage 1.15%. It is something to behold here now next week's a hybrid. We have the biggest week of earnings, but we also have the Fed meeting on Wednesday. I think we'll get a quarter point rate cut. Our economy stalling. We're beginning to see some larger layoffs like the ones that were announced by Target and Applied Materials. And this morning's Consumer Price Index report was tame enough to justify a cut. In other words, I think we're safe when it comes to extraneous events. How about earnings Monday night our largest steel company reports. That's Nucor and I think we're going to hear plenty of praise for President Trump's tariffs that have kept other countries from dumping their government subsidized steel into our country at excessively low prices. China wiped out most of our steel producers from Newport, Cleveland Cliffs. Nucor is the best dealmaker in the world, but it can't transcend what amounts to a sluggish environment away from the data center. In this economy, I I can't expect a blowout even as I do like the company very much. Too bad my pain. Up to the Tuesday morning we get results from UnitedHealth. Now maybe we can find out how detrimental these investigations into their billing practices really are. I think they'll be dismissed as not major and the stock might start climbing like it did in the old days when UNH was such a huge Wall street favorite. Okay, here's one. So so far you know we behind this one right? The digital bank. It's had a huge run that you have to ask if anything can justify the move beyond where it is. The rally today didn't help. I don't know. Call me, let me say critical because I do am concerned about profit taking there now some stocks have no quit in them though at all. And this one down here, Celestica. This company does make everything you need to make tech, equipment and they are tremendous at it. Maybe. By the way it is the best chart in the entire stock book as I like to say. Say we also hear from United Parcel. Not the best stock in the entire Trevor. Now this stock's been sneaking up as if there was no issue with the dividend that they have plenty of money. Good quarter takes this $87 stock to 100. A bad one takes it right back to $80. Seems like a decent risk of work. But anyone who stuck their neck out for UPS recently has gotten their head chopped off. You want a regular consumer stock that's been an incredible performer. I think you look no further than Royal Korean Caribbean. This cruise line has been a winner ever since COVID ended. Now if you want to go dicer, how about going to VF Corp. Apparel's tough but I think the last quarter, which was not up to stuff, will be put to bed by a terrific set of numbers this time from CEO Bracken Darrow. He's bought a lot of stock in the open market. The man is putting his money where his mouth is. After the close, we hear from Visa. All right. Now Visa, let me just tell you something. This is a company that never misses and I bet they won't miss this time. It's another clockwork stock, meaning you can set your watch to it. You want to stock this moved up in anticipation of a blowout that could give you a blowout times two. Well, that's how I feel about the stock of Seagate. Yes, the disk drive company, which is supply constrained. That's a great thing to be in this environment. More on that later in the show. Next Wednesday got me trembling in anticipation. Why? Well, this morning has a sure winner in cvs, at least from my point of view. Now I'm betting it's much better now that Rite Aid's done and Walgreens is pulling back short sharply. There's also Caterpillar. Now this one's a little tougher for me. I fear its stock has moved up too much. As a monster performer involved with infrastructure in the data center, I think it's due for some profit taking. Then there's Boeing, which after taking a non cash charge or 2 for whatever issue might be on the table, should offer a restrained set of positives that will get the stock moving higher. And cement is the most obvious winner from the trade war. That's why we own it for the chaotic trust. Remember, if our trading partners want to make nice to President Trump, they need to buy big ticket items to close the trade deficit. Seems like airplanes will do the track. Close the Federal Reserve's verdict on interest rates. We did. So that'll get out of the way, right? So what do we have? We have Starbucks and I think that could be a little stronger than expected. Not a lot, but I also believe the humility of Brian Nicole the order of the day. I don't expect a lot of great commentary next. You can bet that Alpha report a monster quarter led by YouTube, then search and then Waymo. There's a lot to like here. Microsoft reported the best quarter of the hyperscalers last time around and I expect a repeat from this company. Now, Matt, as Mark Zuckerberg keeps finding ways to deliver great quarter to great quarter. Key on advertising but also spewing the gospel of the Ray Bans that are packed with AI. I like the black ones that Rene Haas wore on our show from Warm holdings recently. Chipotle can't seem to deliver and it's starting to worry me. Although I had a really good burrito for lunch. Lunch. To me this quarter seems maybe it's make or break in terms of maintaining the company's growth status. It will be tough my nomination for the best quarter this whole entire week. ServiceNow billboard is cloud software company which I think will have the most AI for any tech service company backed up by big orders. Bill's quietly become the most successful non mega cap CEO in the entire market. It's a solid opportunity for next week or next year for that matter. I also think the heavily shorted car Vana will blow the doors off. On reports Wednesday night I saw another short story put about it. You know it's getting tiresome. If you want to own a gold stock, don't own Newmont which disappointed own Agnico Eagle which is incredibly low finding costs. That's what matters. Thursday morning we've got another company that should report an enviable quarter and that is MasterCard. You can put this one on. MasterCard is going to be great. I mean it's like I saw it script in my in my sleep. How about Eli Lilly now? I hate to say it but it's become lawless. If the company doesn't have a new use for Zeppelin, the revolutionary GLP1 drug, or announced the date for the pill version, the stock's going to pull back to the 700 from its current 825 level. That's it can't get out of its own way at the close. We hear from two controversial stocks for different reasons, Apple and Amazon. They could not be in more different shapes right now, right on Amazon's web services business. Once the jewel in his crown has become an albatross around the company's neck. I think it's incorrect, but that's what the street is saying. The stock which has been the least of the magnificent of the Magnificent seven needs to see Amazon web services grow from high teens to the low 20s or else. Well, we're not going to have a rally Apple though. A week and a half ago I was worried. I'm sorry, I wasn't worried about Apple because it hadn't been moving. Now I'm worried the stock's been bobby on the trend line. Now it's exploded higher. I wish it had sure waited to the quarter because the expectations were are let's say huge. And that said Apple should have a good multiyear story to tell And I'm sticking by my own mantra. Own apple. Don't trade it. Finally, Friday we have up look what it is, right? Chevron and Exxon. I got to put this is going to be my like, you know, we use it as my emoji all next week. They're called emojis, two laggards that are linked to the price of crude which means it's very hard for them to get any traction are Chevron and Exxon. Bottom line, I wouldn't be fretting so much about next week if it weren't for today's incredible rally that took tech moon especially quantum. But the unrestrained nature of the move makes me feel that there has to be a trick to go with today's treat. Otherwise you might as well abolish Halloween next week and call it early Christmas. Mike in West Virginia.

[Caller]

Mike my bike page returning acolyte mad money mountain Mike from wild wonderful West Virginia.

[Jim Cramer]

How are you? I'm loving hey West Virginia. I mean I'm right back there. Country country road, right? I mean I'm looking at Regina Gill, my, my excellent executive producer. Should I know that? What's up?

[Caller]

Well, we'd love to take you home. A compliment and a riddle. Who is slim and trim but has a wide moat? You baby. One of a kind and we appreciate you wide moat.

[Jim Cramer]

I got to figure that. But yeah, I like to slim and trim. I'm looking at will. Maybe we'll come at the dollar costing.

[Caller]

Into Berkshire Hathaway throughout the year.

[Jim Cramer]

Jim.

[Caller]

And it occurred to me that it might be smart to think of Berkeley as a common man's home office. Why not let the oracle's acolytes decide when to hop?

[Jim Cramer]

I totally agree with you. One of the things I mentioned and I didn't mean to be critical on how to make money any market but you know, Warren says why not just own the S and P? Well, how about if someone said why not just own Berkshire Hathaway? They did a heck of a lot better. Hey, you know what I mean? Sometimes there's a point purloin letter in this business. Let's go to Jerry in Missouri. Jerry.

[Caller]

Hey, Jim. Thanks for taking my call.

[Jim Cramer]

Of course, Joe. What's up?

[Caller]

Short and sweet. Do you see app Lovin returning to the highest experience back at the site?

[Jim Cramer]

Do Applovin is loved app and that's the way I feel about it. Applovin and Palantir, they almost trade together. You can't miss them. Applovin is a winner. Next week is the gauntlet. Now I'm not just talking about that movie by Clint Eastwood which I have to love. Yes, right, Molly. No show. I wouldn't be so concerned about it didn't rally so much today. And quantum best to keep your guard up because it feels like there has to be a trick to go with today's treat, doesn't there? Well, man money tonight, the consumer package Good Space has been a laggard in this tape. So what should we make of a company like Procter and Gamble after its very good report? I'm going to give you my take. Then you called in, you stumped me on this globan and I got to do. I did a lot of work. And I got to tell you something. Ben Stodo and I are a little bit confused by why so many people like it. And it's Friday in Creamerica, which means it's time for MIWA Diversified. I'll put your portfolio to the test and see if they can handle whatever the market throws at them. And there's a new twist too, so you want to stay tuned. So stay with Kramer.

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[Jim Cramer]

Touchdown.

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[Jim Cramer]

The consumer packaged goods stocks finally bottomed. Ever since the post Liberation day lows, this one safe group has been left behind by the market. In fact, the consumer staples sector has been the second worst performing cohort in the S&P 500 this year, barely edging out energy, which is in last place. And oil's plummeted. Some of that's from persistent inflation and a flag consumer. Some of it's because this market has a huge appetite for risk and not much appetite for sleepy consumer packaged good stocks. Safety is last as I write how to make money in any market. But over the past few weeks we've seen signs of a bottom here. Now maybe it's just kind of bottom, but it's a bottom. For the last two days or so, many of the riskier speculative stocks were selling off horizontally. Some of the money taken out of those groups may have gone in the consumer packaged goods place. Suddenly these stocks could rally in response to the OK quarters. We saw that from ConAgra and from PepsiCo. Nice rally after that. At the same time, the Federal Reserve is in rate cut mode which will eventually make high dividend stocks more attractive. And the vast majority of these stocks do pay bountiful dividends. Which brings me to the best of the best. Proctor and Gamble. Yes, this is the best CPG as we call them, consumer packaged goods company in the world. Now you know them as the parent company of Pampers Diapers, Tide Detergent, Bounty, Charmin and Puffs paper products, Old Spice Deodorant, Head and shoulder shampoo, Gillette Razors, Dawn Febreze and Swiffer home care products and many, many others. Now Proctor is basically unmatched in scale and the range of its portfolio and the science too. It's incredibly well run. I like it so much that I included a P and G conference call in a transcript and how to make money in any market. Tried to show you how to read a good transcript there because it serves as the best example of what an earnings call should be. But while that's all true, Procter and Gamble has been under pressure with the rest of the group this year. The stocks reached an all time high of $180 and change late last year. But since then it's drifted lower and lower, falling as low as the mid-140s earlier this month. Boy, was that ugly for recovering $152 and change as of today. However, if you like me, you think the consumer packaged good stocks are starting to try to put in a real bottom Procter is the one to buy pg. I know that because the company reported a robust quarter just this morning. Why don't we start with the numbers? Procter posted a healthy revenue beat with an in line gross margin and a higher than expected operating margin and that allowed them to deliver 9 cent earnings beat off a $90 basis. So far so good. Looking at the individual segments, Proctor's biggest beat came from its fantastic beauty division which had 6% organic sales growth coming in well ahead of expectations. Their smaller group grooming division also beat expectations at 3% organic sales growth. The health care and beauty, feminine and family care segments both essentially matched expectations. The only division that truly missed expectations was the company's largest, which is fabric and home care. But it didn't miss by all that much and still managed flat organic sales growth despite 2% volume declines. I think that ultimately kept the stock back though. Now while the results were good, Proctor only reiterated for your forecast calling for 1 to 5% sales growth, 0 to 4% organic sales growth and 0 to 4% earnings growth. While those are wide ranges, this was the first quarter of Proctors 2026 fiscal year and most companies are reluctant to raise their full year forecast when they're only a few months into the fiscal year. I wish people would learn this is really important, especially when there's still a lot of uncertainty about the trade war. More important on the conference call, CFO Andre Scholten, whom I really respect, told a pretty good story of Procter's resilient performance in a still pretty challenging environment. He said that six out of seven regions held or grew organic sales in the quarter. Really good Proctors focus markets up more than 1% couple saw 6 out of 7 product categories put up organic sales growth with short noting Quote this progress is the result of interventions made across the digital commerce and district distributor business along with strong innovation and execution of the integrated strategy. End quote. That's what we want to hear. Basically this company is very well run and as usual their execution was impeccable. One of the things I like the most about Proctor is the fact that even when one of their categories is under pressure, the company is able to set its products apart taking market share by investing in innovation advertising at a time when its competitors typically just hunkering down. That's not Proctor's way. On this morning's call, Shelton gave some solid examples of Proctors TradeMark Innovation quote Tide's biggest upgrade to liquid detergent in 20 years and all sorts of new baby care products which Sultan said are helping distinguished brands like Pampers. Amid elevated promoters emotional activity in the diaper category. Proctors also rolling out all sorts of lots of regional products in China, Latin America. They've had some real success with those efforts. The last part of Sheldon's commentary focused on what Proctor is doing to rein in cost, which is so important now. This summer the company launched a two year cost saving initiative which includes the elimination of 7,000 non manufacturing jobs or roughly 15,1 5% of their non manufacturing workforce, along with improved market marketing productivity, more digitization throughout the business and a rationalization of their product portfolio with the goal of either turning around divisions that aren't pulling their weight or simply cutting them loose. I'll give you give you an example. Proctor is going to shut down its manufacturing in Pakistan because it's easier to just ship things there and then rely on third party distributors to sell them to consumers. At the same time they're discontinuing the laundry department detergent bars in India and the Philippines where they just weren't selling well. They they go granular. But these are all small things because for the most part Parker's already doing very well. There's a reason why the Stock rallied nearly 1% today, even though we did get a core and expected inflation consumer price index reading causing investors to swap out of safety stocks and swap into some of the higher risk names. Although in the end by AM by the way, people were buying the stock thinking it was going to have a terrific conference call and go much higher, it did for fine. Now, even though I get the sense that the term package good stocks have finally bottom, that doesn't mean that they're going to make a comeback. It's not a V here might be more like a you. Especially not overnight. After a week and a half where momentum names got killed while Staples came roaring back, the last couple of days felt felt more like the old pattern where momentum runs wild Quantum and you'll know that and the safety stocks stay on the sidelines. But if like me, you believe the consumer packaged goods plays can make a come back, then Procter and Gamble might be the best way to go. Especially with the stock trading at less than 22 times this year's earnings estimates, that is near the low end of its five year valuation range. I'm used to 2425 for this one by the way. Again, doesn't hurt that it's got a 2.8% yield. Let me give you the bottom line here in recent weeks, the consumer packaged goods stocks have been showing signs of life. And if you think this group's done going down, then Proctor is the one to buy. Get into that. You just reported a strong quarter in the midst of a fairly tough environment. Bad money is back after the break.

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Coming up, Kramer's diving into AI speculative name GloBent to see if the stock can power higher or if there's too much froth in the artificial intelligence space.

[Jim Cramer]

Next.

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[Jim Cramer]

Earlier this month Carl in Oklahoma called in to ask me about Globan and that's jellob for all you home gamers. And I said I had to get back to him because I didn't know it. I was stumped. But before I could even do the homework, I got another question about a Globan from Brad in North Carolina this Tuesday. Holy cow. So I need to give you my verdict on this one before another caller decides to kick me when I'm down. Funnily enough, this is not the kind of high flying speculative stock that people ask about all the time. Club answer 22 year old company founded in Argentina that describes itself as a global technology service provider. I know not very informative in Plain English. They're an enterprise software development company that also has a tech consulting business along the lines of Accenture. They help companies figure out the right tech for their business. Remember we spent some time with Accenture last week. Well, that's what these guys are for. Kind of Latin America, but now the worldwide. When Global came public back in the summer of 2014, it was the first Latin American software company to IPO on the new York Stock Exchange. For years, this was a great growth stock and IT rallied from $10 at the time as IPO to 106 by the end of 2019 before surging to an all time high of 354. Change November 2021 when the speculative frenzy of the COVID era finally peaked. Since then though, the stock has done terribly. It's now below $60, down more than 83% from its peak in 2021. At first you could blame it all on the rotation of the high flyers. In 2022, when the Fed started aggressively raising rates, Global was still putting up good numbers then too. But in 2023 and again in 2024, the stock tried to mount a comeback. Yet each time these rallies fizzled and Globe went right back down. Now, some of that's because the company's growth slowed dramatically in 2021. These guys were putting up nearly 60% revenue growth.

[Fox 1 Announcer]

Growth.

[Jim Cramer]

By 2023 it was 18%. Last year it was just 15%. Their margins came down too. And it's only gotten worse this year. Why? Simple. The rise of artificial intelligence. There are very few things that current I can do better than a well trained human. But the one thing it's terrific at is writing software code. Which is real bad news for software development companies like Lebanon that make custom software for its enterprise clients. As their customer base got more comfortable with AI, more facile, Govind found it harder to grow. And as I get smarter and starts reasoning, I think it's only going to be more difficult, really competitive for these guys now. Glowing tries tried to adapt to the era. If you look at the promotional materials, AI is everywhere. In June they rolled out their own subscription platform called AI Pods with a consumption based pricing model for AI powered services like engineering, product definition, design and testing at scale. But man, it's clear not enough given that the stock's down 72% year to date. In fact, when Global reported in February, the stock almost instantly lost 30% of its value because the full year forecast was so downbeat. Then the stock got hammered more by the big liberation day tower freak out. Unlike the rest of the market. Globet never really bounced back because it keeps reporting not so hot numbers. In May they posted a top and bottom line miss and slash. They're already disappointing full year forecast. Originally management was talking about earnings of 66680 to 7268720 per share for 2025. But in May they cut their outlook to at least $6.10. When Global reported again in August, the company beat numbers slightly and even raised itself earnings forecast by 2 cents. Hey, thanks guys. But management also trimmed its full year sales guidance and that means it's not ideal. A slew of analysts jumped ship after each of these quarters. In May, multiple analysts downgraded the stocks against these quarters. In August, J.P. morgan downgraded the stock saying that Global will have a very hard time trying to work hard to achieve positive revenue growth next year and there's a good chance they'll experience some shrinkage instead. And frankly, things are looking pretty darn grim this year too. At the midpoint of Globin's current revenue guidance, we're talking about just 1% revenue growth this year. And that's assuming they don't miss and cut numbers again. Plus their current earnings forecast represents a 4% decline from last year. In short, this has become a no growth company. At this point. The best thing you can say about Globe and is that the stock is cheap, trading at less than 10 times this year's earnings forecast. But I never recommend solely because they're cheap. Often they're cheap for a reason. If Global cuts its forecast again suddenly it's going to look a lot more expensive on an earnings basis. And given their recent track record, I wouldn't be surprised if that's exactly what happens now. A couple of analysts have initiated coverage on Globe and just this week both starting to stop with the equivalent of a whole rating and price targets in the 60s. Citi says basically that the new Pods offering has to work for Globe and but it doesn't sound like they have a lot of confidence in that happening saying and I'm going to quote here, catalysts for a return to steady growth are not clear and that organic revenue trends might remain depressed over the near term. Yikes. What has me curious is why the heck not one but two callers asked me about this nondescript, poorly performing software stock. I have a feeling that some people might be thinking the Global could be a beneficiary of our government's recent bailout of Argentina. Remember, the company was founded in our change major presence there Maybe they think the company's poor performance has something to do with the collapse of the Argentine peso and the hideous decline in the Argentine economy. So the Bell could somehow turn things around. Problem is, that's just not true. Global is technically headquartered in Luxembourg these days and it gets 56% of its revenues from North America with another 17% for Europe. The entirety of Latin America only makes up 22%. Argentina is just a fraction of that. The weakness here has nothing to do with Argentina and everything to do with the fact General is eating these guys alive. So no, I can't bring myself to recommend this one, even though it seems cheap at less than 10 times earnings. Often stocks that seem cheap turn out to be value traps. Here's the bottom line. Maybe Global bank can turn things around on its own effort. Maybe the effort takes hold. But I got to tell you, I'm not going to stick my neck out on this one. There are a lot easier ways to try to make some bunny. Sorry. How about Ian in Florida? Ian. Booyah, Jim. How you doing? Booyah, booyah. What's going on?

[Caller]

Doing good 5 time caller and wanted to congratulate you on the success of your book.

[Jim Cramer]

Thank you, thank you. Jim.

[Caller]

I wanted to ask you about a company, it's a meal cloud that has very strong ties to Nvidia. It's way off its high still. And what do you think about coralweave?

[Jim Cramer]

Okay. I'm on the fence in Corey right here. I'll tell you why they're trying to do this acquisition. I want to get this thing out of the way. I do think that the acquisition would be better than not. I hope they get it. If they get it, that might. And the stock goes down. That would be the exquisite time to buy. So I'm on hold right now but I do like to come company very much. I like the CEO Michael and Trader. Terrific guy Roberto in Florida. Roberto, hey.

[Caller]

Hello Jim. Thank you so much for taking my call. Long, long time listener. Second time caller. Two months ago my, my new investor son Nicholas and I called to get your advice on this particular stock and you said wait for a significant pullback before buying it. We were given a chance to ask a follow up question from you. So we are doing that and we want to know what your opinion now is of Circle.

[Jim Cramer]

Of Circle. You know what? I've come around the idea that Circle is going to be a big company. It is. It's a fintech company for the next generation. One of the reasons is because I am a huge believer in digital Assets and I'm trying to find something else besides Bitcoin that I can tell people to buy. In other words, you know, you can buy Coinbase, you can buy the actual Solana if you want. You can, you can buy any crypto. I think Circle Internet may be the right way to go. And that's hard fought for me because I wasn't going to go there. But I'm going to bless it right here, right now. Okay. There's a chance Globin can mount a comeback with its own AI effort but I don't think it's worth it sticking your neck out right now on this one. There are a lot easier ways to make money now. Much more ahead on that. Money diversification key to the success of any portfolio. So we're putting Creme America's holdings to the test. We play MI diversified and there's a new wrinkle. So you're going to want to watch then there are two words that I've heard a lot this earnings season and I'm going to sum them up. I'm going to reveal it and you're going to like it. And then of course all your calls for rapid fire in tonight's edition of the Lightning round. So stay with Kraper. The major averages hit new all time highs today on the back of that cooler inflation report. But we have also seen a lot of froth return to the market. Have you seen those Quantum stocks? If you had the name Quantum in your company or any do it. Your stock was up 7% today. Speculative names are flying high, maybe too high. I will make sure your portfolio is positioned to handle whatever might comes next. Even though as I say and how to make money any market you are allowed to have one speculative stock. That's why tonight we are playing Am I diversified? You we have done a long time. You give me your top five. Five holdings. Say I tell you if your portfolio diversified maybe you got to change some things. I want to start with Leslie in New York. Leslie, your first call what you have.

[Caller]

I'm a long term investor and listener.

[Jim Cramer]

My five top holdings are Apple, IBM, Chevron, Eli Lilly and Verizon. Am I diversified? See Leslie has been. You can tell Leslie's watched a lot of because this is the kind of thing I'm looking for. We got a drug company, we got a high yielding telco, we've got a high yielding oil company. We have IBM which I think had a good quarter. People misinterpreted the stock was down. I told them to buy the Quantum came up and boom. And then I'm going to say, I know people say, well listen Jim, you can't have Apple and IBM, but Apple's own don't trade. I have to make this exception because I'm doing it myself for the trust I am blessing what Leslie's given us. And I say, okay, that's an honor of froth. Next up is Ian in North Carolina.

[Caller]

Ian, Jimmy, chill. How are you, brother?

[Jim Cramer]

All right, chief, what's shaking?

[Caller]

Nothing. Happy Friday. Hey, I'm wondering if you can check out my portfolio for me. I am 33 years old. I eat Risk for breakfast. I've got a long term time horizon. Tesla, MP Materials, Palantir, CrowdStrike, GE Vernova. Am I diversified, man?

[Jim Cramer]

I'll tell you, I had, I had a cup of coffee in it and a bagel. Is that risk? I don't know those risk for breakfast here. Palantir. 50. When I was 50, I said it was going to 100. When it was 100, I said it was going to 150. When it hit the 150, I said it's going to 200. Yes, sold. Let's keep Palantir. Tesla, they were selling it yesterday because they didn't hadn't read the conference call. It was a thing of beauty. G.E. vernova. Well, we know. I like that. The stock not doing that well right now. What an opportunity. Crowdstrike had George Kurtz on the other day. Cybersecurity, it's got its own category. He's doing terrifically. NP materials. Yes. We need rare earth. Let's not just go into the bad rare. This is the only one because this is Mountain Pass where we have a rare earth and it's already been discovered. So I'm going to put this under defense now. Get that defense. And I'm going to put Palantir Software, Tesla as robots no longer thinking cloud cars. GE Vernova as turbines. Crowdstrike as cybersecurity. My God. Now he may, he may eat Risk for breakfast, but I'll tell you, he's going to be eating money for lunch. Let's go with Ryan in Tennessee. Ryan, you're up next.

[Caller]

Hey, Jim, thanks for taking my call, man. How are you today, Ryan?

[Jim Cramer]

This is like one of the best days ever. Because you see, I'm trying to get my wife a birthday present and I have everybody in the office helping me. Let's go to work.

[Caller]

Well, that's fantastic. Happy birthday to her.

[Jim Cramer]

Hey, sweetie.

[Caller]

Hey. So two of my biggest holdings right now, Meta and Microsoft, both are very far off their highs. I've got Walmart, Valero and Abbvie as the other three reports next week.

[Jim Cramer]

You know that. Anyway, go ahead.

[Caller]

Yeah, I'm waiting for Meta and Microsoft to see if they will help bring my portfolios back to all time highs. But just want to get your thoughts on those five stocks and see.

[Jim Cramer]

Absolutely. They've been good. Valero. The margins are really good right now with oil versus gasoline. So I think flair is going to work big. That's next week. Abby has made every single quarter in the last two years. It's been remarkable. I think it goes to 250. Wal Mart goes back to 110 when they report. They don't report next week. I think it's fantastic. We got drug, we got, we have retailer, we have gasoline. Okay now Microsoft and Metta, are they together? They absolutely are there to text. I'm trying to figure out how to do this in my own head. He obviously wants to see how they do. I think Microsoft has a great quarter and I think Metta has a terrific quarter. I'm willing to bless that to be able to own the quarters because I've been trying since my book came out to deal with the fact that so many people have two Met two mega caps and I can't just tell them sell a mega cap because you have too much tech. It's not going to work like that anymore. 30% of the stock market is tech is mega. We have to deal with that. Ok, let's go now. We have to. I have to move over here because I'm really in the way now. Let's go to Will in Kentucky. Will.

[Caller]

Hey Jim. This is Will in the horse capital of the world, Lexington, Kentucky. How are you today?

[Jim Cramer]

Oh my God. We were in Lexington. We had, we went on the Bourbon Trail.

[Caller]

Oh yeah, that's a lot of fun. All right.

[Jim Cramer]

Yeah, it was fantastic.

[Caller]

Yep, that's right.

[Jim Cramer]

I watched that.

[Caller]

It was great show. Hey, I have a feeling you're gonna poke some holes in this, but let's go to work.

[Jim Cramer]

So don't get so, don't get so defensive. Okay?

[Caller]

Our Apple Palantir, Arthur J. Gallagher, Agnico, Eagle Minds and D Wave qbts.

[Jim Cramer]

Okay, first of all, not, I am not going to poke holes in Will's, Will's portfolio. But I actually, as I said, I don't mind having a spec among my five. Let D Wave do it. People want to go quantum. We've studied all these. That's the best of the quantums. That doesn't mean I think you should embrace Quantum because the two real quantum kings are IBM and Google. But I think that Will has every right to put to maybe get a little extra something that could change his life. That's what we're about here. Apple, you know, I think it's going to be terrific. Palantir, is it the same? No software hardware. Gallagher. I don't mind the insurance business, but I'm a Chubb guy. I think chubbs going to $300 and Agnew Eagle when they report next week. I think they're going to be much, much better than New Month. They have much lower financing costs. I got a gold company, I got a spec, I got a great tech, I've got software, cybersecurity, I have insurance. I think Will's portfolio is excellent. And he doubts himself, but I don't doubt him. Thank you for sending in all your portfolios. Notice I've got a little looser on having 2 tax because there's nothing I can do. There's nothing I can do. They're just too big. They're too much a part of the entire market. I'm blessing them. I thank you all for sending these portfolios back.

[Fox 1 Announcer]

Coming up, crazy takes your calls and the sky's the limit. It's a fast fire lightning round.

[Jim Cramer]

Next it is time for the lights over here and then the lightning round is over. Are you ready to keep that light round tonight? Let's start with Tyler Nevada. Tyler.

[Caller]

Hey Jim, how you doing?

[Jim Cramer]

I'm doing well, how about you?

[Caller]

Good, good. You know I'm first time caller but I love the show. I'm looking at stocks for longer term hold to build kind of gradually. One of the ones I'm looking at is Apollo.

[Jim Cramer]

Oh, I think you're right. I mean I think that they're very tough negotiators. This guy Mark Rowan, welcome on the show anytime. I've watched him only with with David Faber but boy, he seems like a smart fellow and they've made a lot of good deals. Let's go to Michael in Illinois. Michael.

[Caller]

Oh yeah, Mr. Kramer.

[Jim Cramer]

Booyah.

[Caller]

Hey buddy, great to talk to you.

[Jim Cramer]

Same.

[Caller]

Listen, I am a, I am a charter member of the Rock and Roll hall of Fame. And if there was a Hall of fame for investing you and the late great Louis Rukeyser would be the first ones in.

[Jim Cramer]

Well, I appreciate that. I'm going out to Rock and Roll hall of Fame in November. Do a little inducting myself. What's happening?

[Caller]

Fantastic. Jim, I've been with you for over 25 years and you flat out rock, my friend.

[Jim Cramer]

Thank you.

[Caller]

Listen, I currently own some Devon, but I've been thinking of switching out to nfg, National Fuel and Gas.

[Jim Cramer]

Well, okay, one's very stable, natural fuel and gas. And one mine's a little more high risk. You have to make up your mind yourself. Do you want more risk and more reward or you want consistency? NFG has got consistency. Let's go to Dave in Illinois.

[Caller]

Dave, Dr. Kramer, absolutely love Lisa's phosphoro, Tabala, penca, Mezcal from Binny.

[Jim Cramer]

And a Shout out is my biggest distributor in the Midwest. Shout out in Texas.

[Caller]

Josh. He's the best.

[Jim Cramer]

Josh. Duly noted.

[Caller]

Okay, Jim, this $27 billion database service as an enterprise solution company is up over 40% on the year. Last month you said they weren't getting as much credit as their peers. Earlier this year you called them a hidden gem. So, Jim, are you still a proponent of MongoDB?

[Jim Cramer]

I am, but I gotta tell you, after this run, I'm thinking about service now. That's my favorite right now, Dave, not Mongo tv. We're going. What? That's it? That. No, not at all. We're gonna go to Blaine in Washington. Blaine.

[Caller]

Hey, greetings, Jim, from Seahawk country out here on the west coast.

[Jim Cramer]

Yeah, you know what? I'm trying to figure out whether to play. I played Walker last week and I had to play against him. What's going on?

[Caller]

Well, my question is about business development and financing company that's taken kind of a downturn the last two weeks. It's taken a bit of a dip. They pay a rather handsome monthly dividend and I'm wondering if I should be buying some more shares now on this dip or do I just line up in punt formation. The stock is Main Street Capital Corporation.

[Jim Cramer]

You got to line up and you got to line up in pump formation. Honestly, because I have no idea. You don't know anybody what they really own. If we get a real slowdown, the Fed doesn't react, we're going to be thinking, wow, we were on Main street, we were on dead street. So we're not going there. Hey, you know what? I'm going to Steven. Big Mo. Steven, Missouri. Steve.

[Caller]

Hey, Jim. I love the club.

[Jim Cramer]

Oh, thank you. I just want to say the.

[Caller]

The first segment of your morning letter Wednesday was about G.E. vernova. You said we should kill the speculation of all other nuke and uranium stocks and you reiterated it on Wednesday night. Mad money, Jimbo. There's one uranium company that's Been around for decades. It makes money. It's part owner of Westinghouse. And that tells you I'm talking about what I don't think is speculative. Camco.

[Jim Cramer]

No, Camco is not speculative. That's right. Just a business, a very good business. And it's done quite well. And I'm. I'm not putting that in that camp of no earnings, nothing on the balance sheet. No, they're a good company. And you're absolutely right. You can own that stock. Let's go to Pete. New York Pete. Hey, what's going on, Champoo? Yah. I'm going to see Josh Brown in a few minutes. That's what's going on. My buddy Josh. How can I help?

[Caller]

So I just got done having dinner at the Robin Hood and I was looking at some stocks here. Last year I lost my shirt for about $250, which is a nice shirt on Solo stove. They just started sponsoring the Islanders jerseys. This year they switched to Vanda Pharmaceutical. I've been seeing their name pop up on backstops and behind home plates and stuff during the postseason. They gotta have some money to burn if they're, you know, sponsoring all these sports teams late.

[Jim Cramer]

Right, right. Well, look, here's the way I feel about van. This is a spec. And it's absolutely like when I say how to make money in any market. You can have a spec. I'm going to bless that one as your spec. And that, ladies and gentlemen, Goodison of the Lightning round.

[Fox 1 Announcer]

The Lightning round is sponsored by Charles Schwab. Coming up, too much demand and too little supply. Kramer's taking a look at how supposed to constraints are affecting company earnings and what it means for your investments.

[Jim Cramer]

Next, supply constrained. Those are the two most important words I've heard so far in this earnings season. Other than of course, quantum. Of course. For example, last night David Zinser, he's an excellent stuff CFO of Intel stressed several times that his company supply constrained for a host of products and quote industry supply has tightened materially. Would that work? These shortages are why intel was able to report sharply better than expected earnings. When your supply constrained, you have the ability to raise prices. And that's the holy grail in any industry. Now we keep hearing this phrase. Consider three of the strongest stocks in this market. Sandisk, Western Digital. You've seen them on the new high list all the time. They make storage devices vital for the data center explosion. All three of pricing power. This is a big deal because these three companies have struggled for pricing for years. Their textbook commodity tech plays. When there's too much supply, they can't make the numbers. But when supply is tight, demand is outrageous. Holy cow. Boom. I'm going to add Micron Mu to the list of companies whose products are in short supply. That allows these stocks to go higher for far longer than most investors expect. Sometimes it can go for years. And these similarly supply constraint for much of its product line. C A O Lisa Su never abandoned traditional pieces and her zeal to be in GPUs smart thinking. That plus talk of AMD's quantum work with IBM on yesterday's call lifted the stock 7.6% to a new high. And of course Nvidia's the most supply constrained of all. The supply constraint on everything. That's how you become the biggest company in the world. Why don't these companies have enough product? Well, some of it's because the storage needs of artificial intelligence are off the charts impossible to meet. Some is because the supply semiconductor capital equipment companies, they didn't manufacture enough of their own machines because they just didn't anticipate so many orders in. Those machines are needed to make all the stuff these guys do. A fine company like Micron, which I typically interview every three months, told me to lower my expectations of the coming, coming demand just a few quarters ago. I listened, but how could I know better than they did, Right? But it turns out I was right. Micron was being too conservative. It's pretty shocking. Who else is supply constrained outside of debt? Well, how about Boeing? Oh boy. Next week Boeing reports and I think we're going to talk about supply constraints for all their planes, not just the narrow body 737 that are heavily regulated by the FAA. After Boeing's series of horrendous mishaps, General Electric, RTX and Honeywell, all big Boeing suppliers and aircraft suppliers in general are reaping the benefits of the outsized demand for planes and the attendant maintenance boom. Now here's one that's not kind of fallen off that people are a little down on right now, I think strong over its supply constraint with its power equipment. They make giant turbines that burn natural gas. Principal energy source powering the data center. I think both Jeevanova and Boeing will be winners. One of the reasons is because they make machines that cost up to $100 million apiece. Ordering these big ticket items is the easiest way for our trading partners to ingratiate themselves with President Trump. Short of, you know, some sort of like bribery or something, those orders go a long way toward closing any trade deficit. Finally, one more gold. It's always been hard to find gold, but with the precious metal now going for $4,100 an ounce, you think a lot more gold would come to the market, wouldn't you? It hasn't, though, and foreign gold supplies have become harder and harder to bring to market because the host countries have been very tough on terms. Not surprisingly, they want a bigger cut now, and a lot of these countries aren't exactly enthusiastic about contract enforcement or property rights or even the rule of law. In the end, we have more demand than supply in a host of industries, and that's the ticket for good stock performance. I don't see that changing anytime soon, Alex says. Always promise I'd find it just for you right here Monday I'm Jim Cramer. See you Monday.

[Commercial Narrator]

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of cnbc, NBC Universal, or their parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, Internet or another medium. You should not treat any opinion expressed by Jim Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Kremer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. To view the full Mad Money disclaimer, please visit cnbc.com madmoneydisclaimer It's Cybersecurity Awareness.

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