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Summary of CNBC program “Mad Money w/ Jim Cramer” which was on air on Thursday, October 1, 2020. Links to CNBC sites which contain video clips and transcripts are also listed.
Cramer says Wall Street has made up its mind about stimulus: ‘It doesn’t matter’ (https://www.cnbc.com/2020/10/01/cramer-on-wall-streets-stance-on-more-stimulus-it-doesnt-matter.html)
- “The stock market’s already made up its mind [about stimulus]: It doesn’t matter,” CNBC’s Jim Cramer said.
- “I can understand why so many Republican senators are reluctant to spend a fortune on another huge stimulus package. The averages suggest the economy’s moving in the right direction,” the “Mad Money” host said.
- “As far as the stock market’s concerned, we don’t need no stinking stimulus, and that’s absolutely true for your portfolio, but it’s necessarily not true for America,” he said.
Ticker: PEP, MKC, CLX, PTON, PENN, DKING
Sign of Life in Retail? (showing sign of renewed strength)– Macy’s (M), Kohl’s, Under Armour, GAP, Foot Locker, NordstormConagra Brands CEO: ‘We are seeing the fruits of our labor for the past several years’ (https://www.cnbc.com/video/2020/10/01/conagra-brands-ceo-on-seeing-the-fruits-of-our-labor-from-investments.html)
Conagra Brands CEO Sean Connolloy broke down highlights from the packaged foods company’s latest quarterly report.
Ticker: CAG
Constellation Brands draws interest after committing $100 million to Black-owned businesses (https://www.cnbc.com/2020/10/01/modeldraws-interest-after-committing-100-million-to-black-owned-businesses.html)
- “It’s a sector that has not gotten the right amount of capital over time. We think we can help change that,” Constellation Brands CEO Bill Newlands told CNBC’s Jim Cramer.
- The distributor of Corona, Modelo and other alcoholic beverages committed this summer to investing $100 million in Black- and minority-owned businesses as the country grappled with a racial reckoning.
- “We have to reflect the communities we serve,” he said.
Ticker: STZ
Cramer’s lightning round: ‘I still like Roku’ (https://www.cnbc.com/2020/10/01/cramers-lightning-round-i-still-like-roku.html)
- Roku: ”[CEO] Anthony Wood came on this show about 150 points ago. He told a very compelling story about how they’ve got subscriptions and ads. I like both businesses, so, therefore, even up here, I still like Roku.”
- Tapestry: “Tapestry’s OK. I like the album more than the stores.”
- XPeng: “Alibaba. Just buy that one. If you don’t like that, then buy JD. We don’t want to go downscale, we want to go upscale.”
- Vornado Realty Trust: “I think that you’re in the best of a bad neighborhood. You are in the house of pain.”
- Applied Materials: “I like that company. I do like Lam Research a little more, but that’s OK.
- Piedmont Lithium: “Very dangerous, but if you want to speculate, I’ve got no problem.”
Ticker: ROKU, TPR, XPEV, BABA, JD, VNO, AMT, PLL
Other topic (no video clip): Interview with Bed Bath & Beyond CEO
Other stocks discussed (calls with audiences): GlaxoSmithKline plc (GSK), Travelers (TRV)
If you have any questions or comments on this topic, please start a new topic using its parent forum “Investments in the US”.
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