Mad Money: Key points from May 24, 2023 (Wednesday) Episode

This page contains summary of CNBC program “Mad Money w/ Jim Cramer” which was on air on Wednesday, May 24, 2023.  It also contains links to CNBC sites which contain video clips and transcripts.

(1) As debt ceiling talks flounder, Cramer says lawmakers’ actions will cost you (https://www.cnbc.com/2023/05/24/cramer-says-lawmakers-actions-will-cost-you.html)

• CNBC’s Jim Cramer said on Wednesday that Washington’s debt ceiling fumbling is likely to cost investors big time.
• Market watchers are also weighing the news of the emergence of a new Covid-19 variant in China, Cramer said.

(2) [No Video Clip for non-Club member] Executive Interview: Cadence Design Systems CEO Anirudh Devgan sits down with Jim Cramer (https://www.cnbc.com/video/2023/05/24/cadence-design-systems-ceo-anirudh-devgan-sits-down-with-jim-cramer.html)

Cadence Design Systems CEO Anirudh Devgan joins ‘Mad Money’ host Jim Cramer to talk where the company fits into the semiconductor picture and beyond.

Ticker: CDNS

(3) [No Video Clip for non-Club member] The recent pullback in PG&E is a buying opportunity, says Jim Cramer (https://www.cnbc.com/video/2023/05/24/the-recent-pullback-in-pge-is-a-buying-opportunity-says-jim-cramer.html)

‘Mad Money’ host Jim Cramer flips through PG&E’s earnings and explains why the recent downturn is a buying opportunity not a reason to sell.

Ticker: PCG

(4) Executive Interview: Despite poor guidance, Snowflake CEO says he is optimistic about the future (https://www.cnbc.com/2023/05/24/despite-poor-guidance-snowflake-ceo-says-he-is-optimistic-about-the-future.html)

• After data cloud company Snowflake’s earnings report showed a beat on revenue but poor guidance, CEO Frank Slootman told CNBC’s Jim Cramer that he remains optimistic about the future.
• Snowflake reported $624 million in revenue on Wednesday, 48% growth year-over-year, comfortably topping the consensus estimate.

Ticker: SNOW

(5) Cramer’s Lightning Round: Stay away from Gilead Sciences (https://www.cnbc.com/2023/05/24/cramers-lightning-round-stay-away-from-gilead-sciences.html)

• RB Global: “We like Ritchie Bros, we like the merger, we like the CEO — nothing but net. I think she’s fabulous.”
• Cloudflare: “I do think that Matthew can get that stock back to 80, and I think that was just a couple of bad quarters, and it’s all back together — the stock should be higher.”
• Bank of Hawaii: “Right now I’m only recommending two bank stocks, I’m recommending Wells Fargo — because it’s got good yield and good capital — and Morgan Stanley because it’s got good yield. None of the regionals, they’re just too darn hard.”
• Mosaic: “No.”
• Gilead Sciences: “No. This stock has got epoxy on its feet! We want stocks to go higher.”
• Lendingtree: “No… We’re going to have to stay away from Lending Tree.”

Ticker: RBA [we like RBA, we like merger], NET [the stock could go higher], BOH [not recommending banks except WFC and MS, not regional bank], MOS [No], GILD[No], TREE [stay away]

(6) [No Video Clip for non-Club member] Jim Cramer takes a closer look at the current housing market (https://www.cnbc.com/video/2023/05/24/jim-cramer-takes-a-closer-look-at-the-current-housing-market.html)

‘Mad Money’ host Jim Cramer talks the current headwinds facing the housing market after Toll Brothers earning call.

Other Stocks Discussed (calls with audience):  Caterpillar (CAT) [hoping to start rally, got at least 4-5 days lower, could have more downs then buy], Realty Income (O) [fantastic, ], American Tower (AMT) [not sell here, but not longer has growth as it use to be], 3M (MMM) [ too hard to own the stock]

Ref: Links to other sites that relate to episode of May 24, 2023

• Google Podcast (Sound）
• Internet Archive（Video & Texts per minute）

Disclaimer

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