Mad Money w/ Jim Cramer 11/6/25

Summary

Mad Money w/ Jim Cramer – November 7, 2025

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Episode Overview

In this episode, Jim Cramer tackles the “charnel house” atmosphere gripping Wall Street as a persistent government shutdown and the evolving dynamics of AI-driven “data center Blob” dominate the headlines. Cramer addresses the impact on stocks, discusses OpenAI’s massive ambitions and market skepticism, and fields expert insights from CEOs across sports betting, fintech, and consumer health sectors. Special features include insightful interviews with Jason Robbins (DraftKings), Sasan Goodarzi (Intuit), and Brian McNamara (Haleon), culminating in the energetic Lightning Round and Cramer’s investing playbook for volatile times.

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Key Discussion Points and Insights

1. Market Meltdown: The Government Shutdown and “The Data Center Blob” (01:39–09:23)

• Government Shutdown Has Lasting Impact
  • The ongoing government shutdown (now 37 days long) is not just noise—“it’s taking too darn long,” says Cramer, and its lack of economic data is stalling decision-making and freezing the system ([01:39]).
  • Quote:
    “We’ve been very dismissive of this government shutdown on Wall Street…Well, it turns out this one is different.” – Jim Cramer [01:39]
• Jobs Data and Economic Warning Signs
  • Cramer calls out the “hideous charts” from Challenger, ADP, Paychex, and Paycom, framing them as dire signals for job growth.
  • “Who the heck wants to hire people in this environment? Certainly not me.” – Jim Cramer [02:20]
• The “Data Center Blob” and OpenAI’s Giant Plans
  • The outsized expansion of AI infrastructure—the so-called “data center Blob” (as coined by JP Morgan’s Michael Cembalest)—has gone from economic boon to ominous overhang.
  • OpenAI’s commitment to hundreds of billions in data center buildout and Sarah Friar’s controversial “government backstop” comment sparked industry-wide anxiety.
  • Oracle, as a key OpenAI partner, faces massive debt loads to keep up with AI infrastructure spend, stoking more fears.
  • “Is it too late to contain the Blob? That’s all anyone’s really talking about.” – Jim Cramer [05:43]
• AI Optimism Hit by Skepticism
  • Even companies like Palantir and Robinhood, despite strong quarters, see share declines as high-flyers lose their luster.

Timestamps:

• Government Shutdown & Market Chill: [01:39–03:30]
• Challenger Jobs Data and Employment Risks: [03:31–04:23]
• The Data Center Blob & OpenAI’s Scale: [04:24–07:19]
• Friar's Backstop Comment Fallout: [07:20–08:40]
• High Valuations Deflate: [08:41–09:24]

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2. Lightning Round: Viewer Calls & Market Strategy (09:24–11:18, 41:49–44:00)

• Stock Analysis: Tech, Cybersecurity, and More
  • Discussion of Nvidia’s leadership (“Jensen is terrific”) and bullishness on cybersecurity (Palo Alto, CrowdStrike, CyberArk).
  • “The secular bull case for cybersecurity has never been better.” – Jim Cramer [09:57]
• Viewer Questions (selected):
  • Dave & Buster’s (PLAY): Cramer punts, needing more research: “I cannot be so cavalier…got to do homework.” [42:36]
  • TJX: Strongly bullish: “Own TJX, not sell it.” [43:43]

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3. Interview: Jason Robbins, CEO of DraftKings (13:44–25:18)

• Mixed Earnings, ESPN Deal, and Industry Dynamics
  • DraftKings reported revenue/margin headwinds due to “customer-friendly” NFL outcomes but maintains strength in user activity and handle growth (e.g. 17% handle growth in October).
  • “We actually saw great growth in handle…the only real negative on the quarter is that there was a Tyson fight last year that got a lot of interest that we’re lapping.” – Jason Robbins [14:43–20:03]
• ESPN Partnership’s Strategic Edge
  • Robbins touts ESPN’s unmatched brand and its value in boosting NBA market share.
  • “Now, go from that to having the two biggest partners in NBA between NBCUniversal and ESPN…it’ll help move the needle for us.” [15:49–16:48]
• Regulatory Frustrations and Prediction Markets
  • Cramer calls betting exchanges a “backdoor” that avoids taxes and regulation.
  • Robbins sees limited threat, referencing UK markets and anticipating “exchange” betting as incremental, not cannibalistic.
  • “In today’s world, we see absolutely no discernible evidence that this is having any effect. Our numbers look great.” – Jason Robbins [18:25]
• Quick Response to Betting Scandals
  • Legal, regulated markets allow the industry to catch and report integrity breaches rapidly.
  • “The best way to catch the cheaters is to have a legal regulated system…with obligations to work collaboratively with the leagues.” – Jason Robbins [23:21]

Timestamps:

• DraftKings Q3 Performance: [13:44–14:43]
• Sports Betting Outcomes & Growth: [14:43–15:41]
• ESPN/Disney Deal: [15:41–16:48]
• Industry Regulation & Prediction Markets: [16:48–19:38]
• Market Outlook & Sports Calendar: [19:38–21:48]
• Betting Scandals and Market Trust: [21:48–24:51]

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4. Interview: Sasan Goodarzi, CEO of Intuit (27:04–34:23)

• Intuit Pushes Beyond Tax Season
  • Launches “all-in-one consumer platform” integrating TurboTax, Credit Karma, and AI-powered “agents” to help users year-round.
  • “Every payment you make, we’re going to help you with our agents to build your credit. We have debt agents that will actually help you reduce your debt, manage your money, help you get your taxes done…” – Sasan Goodarzi [28:11]
• Combining AI and Human Experts
  • Intuit’s approach uses both automated and human support seamlessly.
• Expansion into AI-native ERP for Businesses
  • Intuit positions itself as a business “single pane of glass” for cash flow, leads, and tax management.
• Economic Dashboard Insights
  • Goodarzi sees the consumer/job market as “stable” and businesses on their platform as “generally healthy” year-over-year, defying some negative headlines.

Timestamps:

• All-in-one AI/Agent Platform and Year-Round Engagement: [27:52–29:36]
• Credit Building, Debt Management: [29:36–30:37]
• Salesforce Integration, Intuit’s ERP Vision: [30:37–32:00]
• Credit Karma’s Unique Position: [32:00–32:27]
• Business Platform Now Available: [32:27–33:08]
• Pulse on Consumer Health: [33:08–33:56]

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5. Interview: Brian McNamara, CEO of Haleon (Consumer Health) (34:33–41:32)

• Haleon's Growth and Repositioning
  • The former GSK/Pfizer spin-off highlights its successful leverage reduction, strong cash flow, ~3.5% organic growth, and focus on iconic brands (Advil, Sensodyne, Voltaren, Tums).
  • “Three and a half years of being a listed company…we’ve delivered on our financial commitments.” – Brian McNamara [35:49]
• Online and Pharmacy Channel Strength
  • Amazon and channel-based strategy driving share gains; online is now ~20% of US business.
  • “We have a very clear channel strategy…in the US we’re moving to a channel where we have higher shares.” [37:32–38:08]
• Product Innovation – Sensodyne Expansion
  • Strong growth in therapeutic oral health via dentist-driven recommendations and new product launches (e.g., Sensodyne whitening for sensitive teeth).
  • “That’s driven double-digit growth on Sensodyne for over a decade.” – Brian McNamara [40:36]
• European Business, Pain/Oral Health Dominance
  • Europe is a key growth region, benefiting from strong independent pharmacy networks and recommendations.
  • “Pharmacists are some of the most respected health care professionals.” [39:28]

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6. Cramer’s Playbook for Volatility: How to Invest on Down Days (44:13–48:22)

• Trading Around the Core & Cash Reserves
  • Emphasizes the practice of selling into parabolic rallies and being prepared to buy on declines.
  • “You need to be ready to buy, not to sell…But you won’t feel comfortable buying on a day like today unless you’ve taken advantage of the previous rally to do some selling into strength.” – Jim Cramer [44:13]
• Know What You Own
  • Only trade around positions you truly understand; confusion breeds selling into weakness.
  • “A confused owner often becomes a losing seller.” – Jim Cramer [45:28]
• Slow, Methodical Buying via Scaling In
  • Advocates adding back to favorite stocks incrementally as markets decline.

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Notable Quotes & Memorable Moments

• On Market Malaise:
  “There’s just too many negative headlines, including some that are impairing what I have called the year of magical investing.” – Jim Cramer [02:56]
• On OpenAI’s Scale:
  “Open is committed to building hundreds of billions of dollars of data centers using Oracle as a partner…maybe they can raise hundreds of billions of dollars. They decide to go public. That’d be terrific.” – Jim Cramer [05:30]
• On Regulation & Betting:
  “The reality is… at least for the near term, it looks like the momentum is here, they’re here to stay. And so…we need to participate and…should have the tools to win.” – Jason Robbins, DraftKings [17:23]
• On Consumer Financial Health:
  “75% of Americans…have a hard time making ends meet…when you don’t have help and your credit score is not good, those that don’t actually have the money are paying the most.” – Sasan Goodarzi, Intuit [29:55]
• On Defensive Investing:
  “You want to be ready when that happens. You know why? Because it always does.” – Jim Cramer [47:33]

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Episode Structure & Time Map

| Segment | Timestamp | |-----------------------------------------------|-------------------| | Market/Government Shutdown, Data Center Blob | 01:39–09:23 | | Lightning Round Calls | 09:24–11:18, 41:49–44:00 | | DraftKings CEO Interview | 13:44–25:18 | | Intuit CEO Interview | 27:04–34:23 | | Haleon CEO Interview | 34:33–41:32 | | Cramer’s Market Playbook | 44:13–48:22 |

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Final Takeaways

• Urgent need for political resolution: The government shutdown is now a material risk to markets and the economy.
• AI and data infra’s double-edged sword: The massive buildout powering the AI boom now also means debt risk and potential for systemic “too big to fail” companies like OpenAI.
• Industry leaders adapt: Companies in gaming, fintech, and health are leveraging data, partnerships, and digital transformation to stay relevant, though not immune to macro headwinds.
• Cramer’s core mantra: Always know what you own, keep enough cash to act opportunistically, and don’t be hostage to market panic or euphoria.

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For full details, go to madmoney.cnbc.com or follow @jimcramer on X.

Transcript

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[Jim Cramer]

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramerica. My friends, I'm just trying to save a little money. My job is not just to entertain, but to teach. Explain days like today. So call me 1-800-743, CNBC or tweet meyim Kramer. We've been very dismissive of this government shutdown on Wall Street. You know why? Because we've been through so many of them. They usually mean nothing to the stock market. Well, it turns out this one is different. The government's now been closed for 37 days with no sign whatsoever the two parties even trying to reach an agreement. It's taking too darn long. At this point, it doesn't feel like a distraction anymore. In fact, when you look at today's selling with The Dow sinking 399 points, S&P losing 1.12% and the Nasdaq coming 1.90%.

[Jason Robbins]

The House of Pain.

[Jim Cramer]

I put a lot of these losses on the shutdown, if only because we haven't been getting economic data from the government so nobody knows what the heck is really happening. And when you get that, it starts to freeze decision making, freeze the system. Now we do have some pieces of information, but they aren't good. There's an employment service called. It's called Challenger, Gray and Christmas which puts out a monthly report on job cuts. It's authoritative. It's called the Challenger Report. Here's the headline, quote, job cuts surpass 1 million. Highest October total since 2003 companies cite cost cutting AI in October. Holy cow. That crystallizes pretty much everything nasty. What else? There are two payroll processors, the ones that cut checks, ADP and paychecks along with a software company helps manage employment, paycom. Here are their hideous charts. These three charts, well, let me just say they tell you the entire story of this economy better than any numbers that come out of commerce or labor. Who the heck wants to hire people in this environment? Certainly not me. Others obviously agree or these charts wouldn't be in the charnel house. In the end, the government shutdown starting to hit home as we learned today that the FAA is reducing air traffic by 10% at four different airport, 40 different airports. Things have been slowing for weeks, but travel held up pretty well. Was a bastion. That's probably too now we've been able to skate past the bear for the past few weeks. I don't think it's possible anymore. There's just too many negative headlines, including some that are impairing what I have called the year of magical investing. For this I have to go to a tremendous picture from a report called Eye on the Market by Michael Semples, chairman of market and investment strategy for J.P. morgan Asset Management. And permit me a good friend that predicted what's happening almost to a T. Shamblaz had a vision back in September that we were about to be engulfed by what he called the data center blob. I've been in sync with Semblance. You never want to go against the best strategist on Wall street that the data center theme was beginning to get out of control. The bill is so humongous that it's had a major impact on the economy. And until recently, that was pretty darn positive. But today it felt like now the bob's become increasingly menacing with incredible expansion of an outfit that's not public. It's called OpenAI. It's a company that wants to use AI to take over the Internet. They've made so many partnerships that they're on the hook for a fortune. Open is committed to building hundreds of billions of dollars of data centers using Oracle as a partner. OpenAI remains extremely confident that they'll have enough money to build this stuff out. They're privately held. We don't know what their finances look like, so who knows. But I mean, maybe they can raise hundreds of billions of dollars. They decide to go public. That'd be terrific. While there's some skepticism about Open Air, they've been so confident that most investors haven't feared the data center blah and their partner Oracle needs to borrow a ton of money too. They've already raised $18 billion in debt to build out what they can, and Wall Street's concerned about that amount just because the insurance in the bonds Oracle sold has become very costly. Thank you David Faber for that story. They may need 20 times what they've already raised to uphold their end of the Blob. Still, the opportunity so big that Wall street generally accepted Open Air ability to pull all this off and welcomed it until last night when Sarah Fryer, the well known CFO of OpenAI, mentioned that the government could backstop the company and its data center build up if needed, it seemed offhanded. But as she quickly clarified that the company doesn't need any kind of bailout, it doesn't matter. Her reputation is so pristine that it's hard to walk back the term backstop though. Why did she say she didn't mean it somehow she's not a cavalier person. Given that this government has backstop intel when it got in trouble, and given that we've been suddenly been saying to ourselves that perhaps OpenAI has gotten too big to fail, it's hard to dismiss the backstop possibility out of hand, even if she hadn't mentioned it now. The CEO Sam Altman talked today, but how? He expects Open Air to end this year, about $20 billion revenue run rate going to hundreds of billions by 2030. Sounds promising. Also mention of $1.4 trillion in commitments, but it's over the next eight years. That's okay. Open Air wants to be able to sell computing power like the incredibly lucrative Amazon web services. I like that. Again, I want to be sure that OpenAI is in terrific shape. But is it too late to contain the Blob? That's all anyone's really talking about. That is, you know, it's called a lot. Now we know that. As is so often the case, JP Morgan's Michael Semblance was pretty prescient here. The Blob is growing too quickly. So when Fair Sarah Fryer made that backstop comment, it sobered us and made the whole market worry about the possibility that OpenAI may not be able to afford its ambitious plans. It either has to scale back, which is bad for every partner and every company in the data center food chain or it may need government help, which is just awful for everything. Now I think this market could actually handle the pressure of OpenAI because the other companies involved, the data center build out are all rich, solvent and I think prudent, even as we're growing tired of how much money they're spending. But the comments from Fryer could not have come at a worse time for all of the publicly traded stocks in the space as they've been roaring for weeks. And now they ran into the proverbial buzz saw. Just this Monday, Palantir, the revere but richly value consulting company, reported a picture perfect quarter, yet its stock went down anyway. That's a warning sign for any market. At the same time, the White House decided to block the largest company on earth, Nvidia, from selling its most sophisticated semiconductors to China. I know China isn't in the numbers, but some were disappointed. Kudding me, I can't blame anyone for selling. We didn't. Palantir and Video are the faces of this bull market though, and now they've been defaced. Today we had a host of stocks that would have been unchanged or going higher even if you weren't. This funk Robin is a good example. Reported this very morning. Quarter looked darn good. Market didn't care for it at all. You know what? I'd actually say the same thing about Doordash, which is spending a lot of money to become more dominant. People hated the quarter. That's become the norm since Palantir reported on Monday. It's like a switch has been flipped and if the stock's highly valued like Palantir or Robinhood, then there's nothing it can do to satisfy Wall street right now. So let's put it all together. The regular economy is being crushed by the government shutdown and by worries about destroying jobs while causing higher energy energy prices. The data centered economy may need some help from the government, which may or may not be forthcoming. And the high fliers, the speculatives, they're descending all too rapidly. That's the Bears melody. It's playing right now, though it may not be playing in a few days or might get louder. But the bottom line, what matters is we need the darn government to go back to work and we need the data center blob to be cordoned off in the rest of the economy and we need some of the hottest stocks to continue to cool off further. Until then, we are indeed at the mercy of the headlines. And lately the darn negative headlines are the only ones that anyone's paying attention to. Hey, let's go to Bill, Massachusetts. Hey, Bill. Hi, Jim.

[Jason Robbins]

You know me.

[Jim Cramer]

I'm a friend of the club. I just wanted to say one thing. After meeting Jensen last month at the monthly meeting, he's such an honest man with such integrity to come out and say what he said. I really appreciate him. I really. That was a great meeting. And Jensen is terrific. And he's created more wealth than anyone ever. I know that right now people are saying, oh my Jensen. Geez, I don't want that stock. But you and I both know he's done an admirable job. And when he met our club members, I thought that was one of the greatest days of my life. How can I help you, Bill? I feel great. The meeting was incredible. I wanted to. I wanted to pick up a little more Palo Alto after the way CrowdStrike is doing fantastically. Look, I think it's good. I'm certainly not going to fight that the stock is not that down from its high versus a lot of others. But I think that the, let's say the secular bull case for cybersecurity has not never been better. And I love Nikesh's acquisition of Cyberark. That is just sensational. So there we are on the same page as Bill once again. Look, we need this shutdown to end and we need the data center blob at least to stop engulfing the rest of the economy. Let's keep it where we're going. Off a little. Until then, we are indeed at the mercy of the headlines. And the headlines are bad home money tonight as we get deeper into football season. Now, how the betting apps been faring, I'm finding out with the CEO of DraftKings. We're pressure off earnings and a big announcement with Disney. Then I'm sitting down with the CEO of Intuit to learn more about how this company is leveraging AI in a very tricky consumer environment. And I'm still curious about whether consumer staple stocks like Halion are a good place to hide out this environment like can you was what you caught at the bottom? I'm talking to the CEO of the company behind Advil, theraflu and Tums. I also sensed it for another look at how the consumer has been faring. So stay with Kramer.

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[Jim Cramer]

Hey, what's happening after the close of the stock of DraftKings? The company's been having a tough year thanks to a series of adverse NFL outcomes, some rising competition from the predictions market. They get a little muddier when they reported tonight. Now DraftKings delivered a pretty sizable revenue miss, a larger than expected loss for the third quarter. But at the same time management also slashed full year forecasts for both revenue and earnings for interest, taxes, depreciation, amortization. It looks rough, but I got to get to the bottom of this because I'm recommending this stock because I think that this is the best company in gambling. So let's dig deep with Jason Robbins, he's the co founder chairman CEO of Graph Kings. Mr. Robbins, welcome back to Mad Money.

[Jason Robbins]

Hey, thanks. Great to see you James.

[Jim Cramer]

Jason. We got a mixed picture because first of all, congratulations. I think this ESPN type is very big. But second, I'm trying to figure out how you're going to reignite growth because the number of new people onto the site, not that great and the amount of money they're spending is a little lower than I thought. So what reignites the story here?

[Jason Robbins]

Well, the spend is really a function of the sport outcomes. We actually saw great growth in handle. We mentioned handle really accelerated above previous trends. So last quarter we had noted that we had about 10% handle growth in the major sports. This year was 13% to date in NFL and NBA is almost 20% and we've had 17% handle growth to date in October. So definitely getting good volume. There's been some customer friendly outcomes. It was only seven NFL games that cause I mean to put in perspective, we would have held 18% in NFL if it weren't for seven games. You know it's a very small number given where we're at in the season. So that can happen sometimes. Obviously you know, frustrating when it does. Last quarter it was the opposite said last quarter. I think you see what happens when outcomes go our way. We had a positive outcomes quarter and we generated over 300 million in positive adjusted EBITDA. So you know, feels like over time these things even out and always good thing when customers have winning experiences, especially early in the season I think but obviously impacted our results.

[Jim Cramer]

So what do you think about with Disney? Because to me that's a visibility that someone needs. And what will it mean for the day to day of your company there?

[Jason Robbins]

Well, I've been a huge ESPN fan for pretty much my whole life. You know ESPN is iconic and we've had many, you know, various deals all the way back from the fantasy days with them. So have long standing relationships there. I've known Jimmy Pitaro quite some time and have a great relationship. He's a great guy. So really looking forward to working with them. I think their brand, their portfolio of sports content really unmatched and I think being able to go and have that really be the partner that's pushing DraftKings and then also add in we have the NBC Universal agreements, we have agreements with Amazon. I mean we really have just unparalleled, I think presence across the sports landscape and particularly in NBA. NBA has been a sport that we have relative to NFL had lower share in part of it was for years our chief competitor had the Turner deal and we had nothing. And now go from that to having the two biggest partners in NBA between NBC Universal and Esports. ESPN is pretty exciting and we think it'll really help move the needle for us on the NBA.

[Jim Cramer]

Share side note I'm confused about the way your industry works and maybe it's not fair to say your industry, but there are companies that are in predictions now, but they are doing exactly what you're doing. I think in a lot of ways not the same way because it's not, it's not accounted the same way. But the fact is they don't pay taxes. The fact is they don't have to worry about state to state regulation. The fact is that this seems like an incredibly unfair fair way and that it's a backdoor that should be closed. But who the heck is going to close it because the company seem very close to the administration.

[Jason Robbins]

Well, I think the reality is that at least for the near term it looks like the momentum is here, they're here to stay. And so, you know, I think with that in mind we, we need to participate and we should have the tools to win. I actually view it as an opportunity. You know, no doubt the offering is much, much, you know, thinner and less robust than what we can do with full online sportsbook. But it's still something that I think for states like California and Texas where there aren't traditional OSB products, it's something I think that can play very well and will generate real interest. And you know, I think at the same time in states that we currently operate osb, we're going to continue to focus there. We don't see a need to play in this space. So I actually think it works out quite well where the financial opportunity is also in the same places that, you know, we believe there's more clear regulatory landscape.

[Jim Cramer]

Do you, do you think that Kalshi's taking share from you because people might just want to make a bet on the game in the end and you can do it?

[Jason Robbins]

No, I mean, listen, I don't know. I understand this is new. I feel like though, you know, simply going and spending five minutes looking at the products, you'll see what I mean. It's night and day, the amount of markets, the, you know, even the pricing isn't something that I would view as competitive with what we do. You have to look no further than the UK or other Western European markets where there's exchange based betting and there's also traditional sports betting and the exchange products are typically low to mid single digit percentages of share of the total industry. So, you know, I think that alone kind of tells you that in places where there is both a full fledged sportsbook offering and a predictions market offering, you're going to see very little volume migrating from the sports books. If anything, I actually think a lot of it is incremental because what happens is the Sharps that get limited on the traditional books, they can go to the predictions market. So a lot of what has become in the UK is just people, you know, Sharps kind of battling each other and various things. So, you know, there's definitely a market for that, but I don't think in this place with sports betting it's as big. Now that said, these products will evolve over time and that could change. But in today's world, we see absolutely no discernible evidence that this is having any effect. Our numbers look great.

[Jim Cramer]

Okay, so if that's the case, can you just give us a little more color about, about the, the forecast? Because the forecast to me sent the stock down initially 10%. I don't think it's going to be down that much, but I, it was, I didn't think that just moving into Missouri would necessarily cause this much pain. I think the next quarter usually, typically is better than this quarter. So I try to get my arms around the forecast.

[Jason Robbins]

I mean, it's just the outcomes impact. So, you know, unfortunately we've had around 400 million of outcome headwinds so far this year. Most of it was this quarter. Last quarter was positive. Obviously it could swing the other way in Q4 and you could see us go out and beat these numbers. But we're not going to predict that. Even though things regress the mean over time, we're not going to sit here and predict positive outcomes for the rest of the quarter. So it's really just that other metrics look great. Our activity has been strong, our handle has been strong. Customer acquisition has been good. We have the Missouri launch, as you noted, coming up, which should give us another boost to active customers. The only real negative on the quarter is that there was a Tyson fight last year that got a lot of interest that we're lapping, but otherwise the sports schedule looks great. So really I think Q4 is lining up very well. Unfortunately we had some outcome headwinds though, and you know that's going to happen. But I think looking forward, we don't expect it to be any worse off from a pure volume or customer activity.

[Jim Cramer]

I was prepared to think that look, you got a big Friday game after Thanksgiving now. Not just because I'm from Philadelphia, because the Bears are good. You've got two Christmas Day games. These are huge opportunities for you to open up accounts, I believe. Are you ready?

[Jason Robbins]

Oh, we're ready. I mean, we have so many great things lined up. I really excited about those games. I'm excited about the NBA season, which is off to a hot start. Remember last year, everyone was concerned because NBA was off to a bit of a slow start. This year is the exact opposite. Way up, looking great. So I'm really excited about the trajectory right now, and I actually think prediction is going to be a huge plus for us. Obviously, there's a lot still that I think investors don't understand, but as we launch our product in the coming months and show what we can do, I think this is going to quickly turn from a Bear negative to, wow, this is a big opportunity and these guys are going to dominate. So I'm pretty bullish on it and excited about it, and hopefully we can go out and prove the. Prove everybody wrong.

[Jim Cramer]

So it just doesn't sound like the, the betting scandal is impacting your basketball betting at all. I mean, to me, I thought there might be. Some people said, well, I don't want to touch that. That league. I don't want to be involved. But that doesn't sound like it's happening.

[Jason Robbins]

Well, I think that most people actually understand that part of having legal regulated sports betting is that you quickly catch these things so they aren't a part of the game. I mean, look no further than this particular situation. You had, even though it was conflated a little bit, you had two very separate incidents. One of them was, you know, this accusation against Terry Rozier, which was caught very quickly, caught day of the game. And then you have this other side where there was an underground poker game that was operating for three, three years, being run by all these crime families in New York. Millions and millions of dollars were stolen from people. That's. That's what happens when you have an unregulated market. It pushes it towards organized crime, and it goes on for years and years without people getting caught because you don't have the standard reporting protocols that books like us and other regulated and legal sports books have. So I think that's really the big win that you get or one of the big wins, tax revenue, other things that you get from bringing this into the legal market. And I think a lot of people understand that, and they view what's going on as actually A great thing that gives them more confidence over the long term that players are going to get caught doing this and they're not going to do it anymore. And we're in at least know if it's happened.

[Jim Cramer]

How quickly were you able to. Did people catch what was going on? Because it seems like it was either AI or there was something, some sort of radar system caught some of these bets.

[Jason Robbins]

Well, that's what happens. So if you're betting in the illegal market, whether it be offshore with a bookie, they're not going to turn or report it to the authorities or to the leagues the way we are when they see suspicious activity. So, you know, I'm sure those books all shut down the bets and do all the same things we do. They just don't report it. There are other methods out there for detecting it. So there is some monitoring, but it's much harder in the illegal market. And thus why you have these situations like this poker game where these scams go on for years and years that people don't know. And you know, Adam's been a great advocate for this and he's been one of the people that has said, listen, this is why we need to legalize pain. This is why we need to bring it out into the light. And he's absolutely, absolutely right. And I think this is a proof point of it. Obviously, nobody likes to see this. This isn't something that anybody wants in the game. Without the integrity of the game, we have nothing. And we understand our product relies on people knowing that these games are high integrity. But we also understand that in anything, whether it's insider trading and stocks, whatever it is, people are going to try to cheat. And the best way to catch the cheaters is to have a legal regulated system where there is proper reporting and obligations to work collaboratively with the leagues and others in order to root this kind of stuff out where it does happen. And I'll also note this is a tiny, tiny piece. I mean, this is one instance, you know, amongst. I don't even know how many bets we've taken in NBA over the last several years. So, you know, this is a very kind of fringy thing. I don't think this is something that in any way implies that there's a larger issue. It's just sometimes things are going to happen from time to time and you have people, and the faster you catch it and shut it down, the more deterrence that you have going forward.

[Jim Cramer]

Seen it for years in the stock market. Doesn't shock me that there isn't something in the any kind of market. We just hope that it's caught early like yours was and then we can go on and, and have a level playing field. Well, I want to thank Jason Robbins, DraftKings Co Founder, Chairman, CEO straightforward explaining what happened. I believe that, that you're the only company I want to bet in the industry. Let's, let's hope that the, the Black Friday game is a game that brings in a lot of action. How about that?

[Jason Robbins]

Thank you.

[Jim Cramer]

Thank you very much. Fair buddies. And that's the Eagles play Mad Money's back every month.

[Announcer]

Coming up, can artificial intelligence push financial software names to new heights? Kramer's one on one with the CEO of Intuit Next.

[Comcast Representative]

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[Jim Cramer]

Yesterday we got some big announcements from Intuit. That's the financial software company you know as TurboTax, QuickBooks as well as Mailchimp for digital marketing and Credit Karma for personal finance. It turns out until it's got a series of enhancements for TurboTax and Credit Karma as part of their push to become a year round financial assistant for consumers. Not just a company you go to every April to help file your taxes. Something that I can tell you has historically hurt their stock. And two, it's using agentic AI combined with human intelligence from a nationwide network of 13,000 experts in order to help people handle both their taxes and their day to day financial management. Now, earlier this week I had a chance to sit down with Sasan Gadarci, he is the President and CEO of Intuit. To learn more about these changes. Take a look. Mr. Gadarci, welcome back to Mad Money.

[Sasan Gadarci]

Thank you for having me.

[Jim Cramer]

I think this is a revolutionary move by Intuit. You're offering us something that for the vast majority of Americans who are very competitive, confused about cash flow, trying to make ends meet, they will have something all year, not just around tax day, that can explain to them how they can control their finances.

[Sasan Gadarci]

Yeah, I mean it's what we launched and announced is, is huge. First of all, we're the only all in one consumer platform that, where we can help you from credit building to wealth building. And in essence, what we talked about today and what we launched was every payment you make, we're going to help you with our agents to build your credit. We have debt agents that will actually help you reduce your debt, manage your money, help you get your taxes done, help you with what you should do with your refund, and so engaging you year round, all to fuel your success. And Jim, it's a combination of AI and agents doing the work. But then ultimately when you run out of capacity, our human experts are there and, and the reason I'm here with you is we are excited about some additional offices that we've actually opened because it combines artificial intelligence with human intelligence to do everything for customers year round to fuel their success.

[Jim Cramer]

So if I use your, your dashboard, so to speak, well, will I be able to figure out what my credit score is kind of in real time?

[Sasan Gadarci]

Because we've done that for years, but not just figure out what it is, but we'll actually turn every payment into building your credit. Turn every piece of debt you have into what you should pay off first and not tell you what you should do, but that will do it for you. But you're always in control. So imagine being surrounded by superhumans that are giving you advice based on your data, your situation, to take you from where we are today to a better day tomorrow.

[Jim Cramer]

Okay, so there are a lot of people who watch our show obviously who are big, big stock portfolios. They may not understand that, that there are lots of people in the country that really are, it's hard to meet for ends, to meet meet, so to speak. And these are people who are trying to figure out their flow of Funds and they may not be able to do it themselves because it's not easy.

[Sasan Gadarci]

That's right. I mean, 75% of Americans, if we just focus on the United States, have a hard time making ends meet. They're trying to figure out how to live paycheck to paycheck. And, and when you don't have help and your credit score is not good, those that don't actually have the money are paying the most for credit cards or personal loans, and they even have a harder time making ends meet. And so what we do is help you build your credit, help you manage your debt, help you with what bills you should pay, first, second, and third, help you with what you should do with your refund. But imagine doing that year round and imagine that we are actually doing it for you and helping you understand the impact of those decisions. And it's about just powering the prosperity of those that need it.

[Jim Cramer]

Okay, so also explain to me you have a close relationship with, with Salesforce Dream Forgery there. Explain those products how that jives with this.

[Sasan Gadarci]

Well, we use Salesforce internally. Right. The tools that we use internally to help manage our sales folks, to help manage how we interact with customers is what we use internally. But a lot of what Salesforce does for enterprise, if I shift topics, we do for businesses. And so one of the things that maybe if I can touch on is.

[Jim Cramer]

Explain it because I'm looking and thinking, I'm trying to figure out how this works. Yeah.

[Sasan Gadarci]

Last week we had Intuit Connect. And Intuit Connect is where we invite the largest accounting firms and the largest business customers. And we launched two huge things. One was an all in one platform where in one place you can manage from lead to cash. So we have AI agents that can help manage your leads, manage your cash, get your taxes and books done for you. But the second thing that we launched, which is revolutionary, is an AI native ERP platform to serve far larger businesses. So no more legacy ERP accountants can leverage this ERP to not only manage their practice, their firm, their workforce, but also to help serve the large businesses. And it's revolutionary because at the end of the day, it fuels the success of businesses. And what Salesforce does for enterprise, we do for small and very large businesses. From lead to cash.

[Jim Cramer]

Okay, I want to ask you, one of the things that is a favorite on here is Credit Karma. Yeah. Are there any real competitors Credit Karma?

[Sasan Gadarci]

Well, the reality is there's competitors for everything. But I think, you know, the, our real advantage is what we've done in integrating Turbotax and Credit Karma. So now it's just one consumer platform that can help you manage your credit to wealth all in one place. Now it's powered by these beloved brands, but now it's one platform.

[Jim Cramer]

All right, so you're offering just to some of you, you've got for individuals, but also small, medium sized businesses, which has been your fort to begin with. And when is this available?

[Sasan Gadarci]

It's available now. And for businesses, by the way, this platform that I talked about truly is a single pane of glass where you can see all your KPIs, all of your dashboards per industry in one place. And you have AI agents, like a customer agent that will manage your leads. You have a payments agent that will manage your money. And we combine it with human intelligence. So anytime the technology runs out of sort of space of delivering intelligence, we connect this seamlessly to a human to help you run and grow your business. And I think it's revolutionary.

[Jim Cramer]

Well, given all that you, that you get to see, what is your feeling about the health of the consumer? Some people have seen retail sales go down there were some people worried that it may be just the government shutdown. Is there something going on? Because the stock market seems to think that things have gotten weaker.

[Sasan Gadarci]

I would say things, you know, very consistent with what we talked about the last earnings are stable. When we think about consumers, job market is still generally strong. When we look at businesses in our base, you know, we have 10 million businesses in our base across many industries.

[Jim Cramer]

You have the best, the best dashboard of all kinds.

[Sasan Gadarci]

Right? The cash flow of businesses and profits are up year over year, not depending on industry, whether in your auto, insurance or real estate, your revenues may fluctuate year to year. But when we look at our 10 million businesses that sit on our platform.

[Jim Cramer]

Generally healthy year over year, well, I'll take that because, boy, it does seem crazy. I'm trusting you more than I'm trusting all the people I heard down here, believe me. Okay, that's Sasanga Darzee, CEO of Intuit with a kind of a breakthrough program platform that I think if you're struggling, you gotta check it out. And if you just want to check your credit, we always know, as many of our people do godsily, we still know where to go with that. Right to you, man. Money's back after the. Thank you for having me.

[Announcer]

Coming up, Kramer's one on one with the CEO of Halion, the company behind brands like Advil and Tums, and checking in on the health of the consumer.

[Jim Cramer]

Matt, next with Kimberly Clark. Shelling out nearly $49 billion to buy Can View, which was originally JJ's over the counter medicine business. I think it's time to check in with Halion, the former consumer business of Glaxos, Mint Client and Pfizer. Why can't you? Oh, they've got a ton of big brands and you know them all. Advil Sensory among many others. But the stocks struggling, pulling back from north of 11 in June to $9 and changes today, late last week. How reported the results are generally in line with expectations. A slightly better than expected 3.4% organic revenue growth company seems to be in the tough space in North America. We talk about that second. But they've got terrific growth Latin America. I like India, really great overseas. So let's take a close look with Brian McNamara. He's the CEO of Halya. Hear more about the quarter and what comes next. Mr. McNair, welcome back to Mad Money.

[Brian McNamara]

Great to be here, Jim.

[Jim Cramer]

You know, I want people to understand that they will look in their medicine chest, they'll look in their bathroom and they'll say wow, I've got all their stuff. I should own their stock. But I need them to know what they're buying and why. Can you give us the buying proposition for people who may have just passed up on came to you and said what was I thinking? Why wasn't I in that one? Yeah.

[Brian McNamara]

Well Jim, we're now coming up to three and a half years of being a listed company as Helion. So people don't even know us as much as some other companies. But I'm really proud of what we've been able to accomplish those three and a half years. If you remember, we were four times levered. When we start, we're now below three very strong cash flow. We were 45% of an overhang with GSK and Pfizer. We're now 100% free flow and we've delivered on our financial commitments. In May we had our first capital markets day and we've confirmed our medium term guidance of 4 to 6%. We see tremendous headroom for growth in this business. We also have tremendous productivity opportunity. We're a business that came out of three pharma companies. So the supply chain opportunity is massive. We have 64% gross margins. We see 800 million pounds of savings in the next five years. 30 to 50 to 80 basis points of gross margin improvement every year which gives us confidence to deliver high single digit operating profit growth. And it's underpinned by all these brands and you Mentioned a lot of, but Toms and Voltaire and Sensodyne, these are fantastic brands.

[Jim Cramer]

Now do you feel the need to combine with others or do you feel like right now you can go alone and continue to really streamline and get it right after what was before you got here? I mean, kind of an unwieldy, unwieldy company.

[Brian McNamara]

Yeah, we feel great about being a company that's 100% focused on consumer health. We think that's our core strength. We think we're really good at that. We have the medical and the regulatory clinical capabilities, but more importantly, we have the brand capabilities, the consumer capabilities to deliver that. And we think that's a, that's a sweet spot for us.

[Jim Cramer]

One of the things that can you did not have was a strategy toward club or online. You actually seem to have tremendous dexterity with both channels. How did you develop that?

[Brian McNamara]

Yeah, I mean, to be very clear, we have a very clear channel strategy across the US but across globally too. We're very pharmacy driven in Europe. If you look at Amazon, for instance, in the US 18 brands make up over 90% of our business. 16. 16 of those 18 brands have higher shares on Amazon than they do in bricks and mortar. So as we see that movement in growth and now online, it's about 20% of our business. In the US we're moving to a channel where we have higher shares. But that's because we had a very clear strategy on the offerings we're going to make in club versus the offerings we're going to make online versus Walmart, Walmart versus food versus drug. And that's really worked out for us.

[Jim Cramer]

You seem to be very comfortable. When I go to Amazon, I use, I use all of yours, frankly, and I use Sensodyne and I have it on the check. I, you know, it comes to me automatically. Is that something that's been a good business for you to have? Things come automatic?

[Brian McNamara]

Yeah, I mean, listen, Sensor is an amazing brand because most people that use sensor 9 came through a dental recommendation. It's because they had a sensitive teeth issue. Dentist recommends it, gives them the sample, they buy it, it works. They're incredibly loyal to the business. So consumers, yeah, it's an automatic thing for them in many cases when they're, when they're buying Sensor 9.

[Jim Cramer]

Now I know that Kimberly told me that that Tylenol wasn't hit that bad at all really by what the secretary of HHS said, but I have to believe that it doesn't hurt Advil to have someone out there Saying the Tylenol may not be healthy, even if you may yourself think that it is.

[Brian McNamara]

Yeah, I mean, first of all, I would say, Jim, I think OTC Madison, they're extremely safe. There's such a rigorous process to get them approved. Advil is a fantastic brand. And you know what we're doing in the US on Advil? We have a new campaign, no Pain More Gain. It's been really fantastic. We have great partnerships. So we're seeing that brand really strengthen. So it's more about how do we meet consumer needs needs than it is about what's happening in Tylenol for us.

[Jim Cramer]

Your growth in Europe is rather amazing. What's driving it?

[Brian McNamara]

Yeah, listen, we have a tremendous OTC business in Europe, over the counter business in Europe. And in Europe, 60% of our overall business goes through independent pharmacy. Independent pharmacy is driven by recommendation in Europe. Pharmacists are some of the most respected health care professionals. We have the largest pharmacy salesforce in Europe. So we have that recommendation and we spend the time with the pharmacists in Europe to get that. And that's really underpins the strength of our business.

[Jim Cramer]

Such a great difference from ours. We miss those days. Now you've got, my two favorite franchises are Oral and Pain. Because they are high growth. You have tremendous amount of share in both.

[Brian McNamara]

Yeah, well, listen, therapeutic oral health, which is where we really focus and that's the higher end of oral oral health and on toothpaste. And it's been tremendous for us. I was talking to Jim before we got on this product. Clinical white whitening has been a tremendous trend in toothpaste. But we haven't participated because not all whitening toothpastes, actually they're not so great for people with sensitive teeth.

[Jim Cramer]

Right. They told me to use Sensodyne because the other guys, my teeth were too sensitive. But I wanted to use whitening from the other guys and they say don't.

[Brian McNamara]

And now you can have Sensodyne and it'll make your teeth two shades whiter. So dentists are now recommending this. Typically they would never recommend whitening toothpaste. So it's a tremendous business. And you know, the biggest data point for us on this, Jim, is about 50% of the people in the world have sensitive teeth and about a third uses sensitivity toothpaste. That's driven double digit growth on Sensodyne for over a decade.

[Jim Cramer]

Well, look, I think that you've got the best stable brands. I want people to understand what they own. This is one is pretty obvious for Everybody. But I love to hear the financials and how things are going and you filled us in really well, Brian, as you always do. Thank you so much. That's Brian McMurray, Haley and CEO. And look, when you, when you own stuff that you know what happened, what they're about and the market goes down like it did today, you're not scared. And I think there should always be a couple of stock that you own where you're just not scared. You just want to buy. When they're down, they might expect.

[Announcer]

Coming up, Kramer takes your calls. And the sky's the limit. It's a fast fire. Lightning round next.

[Jim Cramer]

It's time. It's time for the lightning round and then the lighting round is over. Are you ready, Ski Dad? Time for the light round. Crimson drop. Start with Jim in Florida. Jim.

[Caller]

Hey Jim. 25 year listener, investment club member and first time caller.

[Jim Cramer]

Excellent. How can I help?

[Caller]

Listen, in the summer of 2020 I bought Macy's. When everybody was telling me they were going under. Turned out to be a 500 to 600% gainer for me. Tonight I'm coming to you and I want to know what your thoughts are. Is this a bear market, a trap or am I looking at a multi bagger, a year and a half out stock Dave and Buster's.

[Jim Cramer]

Wow. Holy cow. That stock is so, so low. You know, look, it's, it's a recon, remember? Reconfigured when private, then came public. I have to do work on it. I cannot be so cavalier as to say not to worry about it. I got to do homework. It's too difficult. So situation for me to say. Yeah, I bless it. Let's go to Rick in Mississippi. Rick.

[Caller]

Hey Jim. First, a great big giant. Thank you to you and your people for making my life a whole lot better than it would have been without you.

[Jim Cramer]

Yes, we're trying to change lives. I know up at Harvard. Yesterday I said that, I said, is it just too preposterous to think you can do that? I don't believe it. I think you can help change lives. How can I help you, sir?

[Caller]

This, this stock has been doing really well. Several earnings beats in a row. Even raised the dividend a couple of quarters ago. But with sales slowing in so many retail and even travel sectors now, and this stock has a history of taking a nosedive after reporting, should I be getting concerned about tjx?

[Jim Cramer]

No, no, tj. I was just there yesterday. TJX is really, really strong. It's what works in a bad market. And that right now we got a bad one. I say own tjx, not sell it. And that. Ladies and gentlemen, the conclusion of the Lightning Round.

[Announcer]

The Lightning Round is sponsored by Charles Schwab. Coming up, after a day of declines, Kramer's helping you stay the course and letting you know how you should position to get the most out of this market.

[Jim Cramer]

Next, what do you do when you're caught in a squall of selling like this one? Rather than selling everything or sticking your head into the sand, you need to think about what you own and whether you're ready to buy more on weakness. That's right. You need to be ready to buy, not to sell. But you won't feel comfortable buying on a day like today unless you've taken advantage of the previous rally to do some selling into strength. Emphasis on some. Is it too late to sell something, anything, so you have enough cash to do some buying? At this point? No, it's not. But after this run, one thing should be obvious, especially if you have read how to Make Money in Any Market or if you're a member of the CNBC investing club. You need to be conscious of when a stock has gone too far, far too fast, becoming too large a part of your portfolio. My partner, Jeff Marks and I, we have the show. We call it the morning meeting. It's 10:20 for club members. Every day we look at charts and I say to him point blank, look, we got no choice. This stock's going parabolic. We have to sell some. A parabolic stock is a stock that heads straight up and the vast majority of time will eventually come down, usually much faster and deeper than it rallied. And we saw a lot of those declines today. You know what I'm talking about. Fortunately, we have plenty of cash for the charitable trust because we own too many parabolic stocks, which is why we sold some into strength, figuring that we could always swap back into them once they come back down. We call this trading around a core position. And while I generally do not recommend trading, I do like having some cash ready when the inevitable storm hits. So we trim in the unnatural strength. And there's been a lot of unnatural strength of late. Now understand, trading only, trading around only works as a strategy if you truly know and like your stocks. If you don't know them well, you won't know whether to buy them or not. You'll just be confused. A confused owner often becomes a losing seller. Of course, you could say that none of this matters because you can just hold out, ride everything out, whatever you want. I Think it's admirable, but it's not necessarily realistic. If you don't have cash, if you haven't taken something off the table into the parabola, you're going to be at the mercy of your emotions. On days like today, you know what you do. You're going to be blowing out everything. You're going to be selling into wheat. Sell, sell, sell, sell, sell, sell, sell. Taking some stock off the table makes you less hostage to the next storm. Consider battening down the hatches now. We don't know when we'll get a bottom. That's why I like to apply the cash in a sparing and slow, methodical pace. Buying down on what I call a scale. Just like you should peel off stocks gradually on the way up, you can add back stock gradually on the way down. I like the stocks we own for the Travel Trust very much. We know which ones we want to buy and where we want to buy them. Of course, we tell club members about that well ahead of what we do now. We've held off buying almost anything right now because we felt the market gotten too high, but now it's coming down. We're doing our best to just put money back into the market. We bought a little of a stock today. I talked about yesterday at Harvard Business School, so I think we did. I want to buy things lower from here. I got the cash. I need you to know what you own and like it so when those stocks inevitably come down, you buy more. Even if you're just replacing what you sold at a much higher level into the parabola. As long as you're selling some stocks into real strength, you'll be in a position of power during the next sell off rather than in a position of fear. I'm not advocating trading like a madman. That's not in the book. Whoa. Not at all. I'm simply saying that if you listen to my advice, you know, I'm not about to let a stock go parabolic without doing some selling. There are moments when we have to sell stock for the Travelers. We have to, because they simply go on up too far too fast. The only insurance you have when that happens is to sell some stock to be all set for the next selling squall. You want to be ready when that happens. You know why? Because it always does. I like to say there's always a bull market somewhere. I promise. I find it just for you right here, man. Money. I'm your camera. Cinema.

[Indeed Representative]

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC, NBCUniversal, 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. Cramer'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 Are you looking for health insurance?

[Jim Cramer]

Georgia's got you covered. Georgia Access is our state's marketplace where you can compare, apply and enroll for health insurance plans that offer the best value for your needs. Open enrollment is happening now. Visit georgiaaccess.gov today and choose the plan that is right for you. You I'm Insurance Commissioner John King and I'm proud to bring you Health Insurance for Georgia by Georgia.