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[ would do to explain days like today. . Goodbye February. You will forever be known as a heartbreaker. You demolished software. You minimized hardware. And then you took apart the king, Nvidia. And you decided that the winners were these prosaic companies with popular brands like Pepsico, one Hershey, Procter & Gamble, Colgate, or terrific drug companies J&J, Novartis, AbbVie, or earth movers like Caterpillar and Deere.
Everything else, most likely February didn't ain't got nothing for you, okay? Including today when the Dow plunged 521 points. S&P lost 0.43%. Nasdaq lost 0.92%. And some of the biggest really getting killed. [screaming] It was a month of indecision because inflation's running hotter, but it was also a month that should have been better thanks to falling interest rates.
And the rate rates are really getting low again. On the other hand, it was a month where it dawned on people that obscure terms like private credit could spell real trouble if something goes wrong. I'm looking at you, Blue Owl. I don't know if you are ready for this amount of scrutiny. Will the negativity continue into March?
We might find out this very weekend as the president seems eager to go to war with Iran. Uh the markets haven't been rattled by his saber rattling. Although oil's up 17% year-to-date and I'm not even supposed to call Kintan today. It's almost it's become such a big part of the inflation story that well, people are getting nervous.
Now, we are awash in oil, so let's not freak out, please. The rally came entirely from predictions that Iran will shut down the Strait of Hormuz, and that's the most important oil artery on Earth. Tomorrow we'll find out what a Buffett list Buffett sounds like from Berkshire Hathaway. That's right. I'm betting the new CEO, Greg Abel, will opt for a much more low-key style than his predecessor.
But listen for words of wisdoms, though. Maybe we'll get some. I think he's a business person trying to make as much money for you as he can. Look out. Norwegian Cruise reports on Monday, and the activists at Elliott Management are after this company to start performing a little more like the standouts Royal Caribbean and Viking Holidays.
At least that's some real wins of late. Honeywell, Southwest Air, Texas Instruments, J.M. Smucker. The latter, true shocker, given that it includes Hostess Brands, a junk food that was supposed to be obliterated by the GOP dash once. My suggestion for Norwegian Cruise, sell yourself to Disney, which is desperate for ships as there's a big ship shortage.
It's an $11 billion company, this Norwegian. Disney could write a check like this and sell them more ships, refurbish only the largest ones, and make the cruise line a much bigger part of their business instantly. That matters. Disney's stock is stuck in cable TV purgatory. It could soar if it finds a way to build itself as a more of a vacation paradise company.
I know it would be radical and it might look, it might take some time to retune the fleet to Disney standards. By my count, there are at least 10 Norwegian ships that could be made over as Disney ships right now. Disney has seven ships, soon to be eight. They're more upscale than Norwegian, but they can be fixed.
I think it's a smart move as ordering a new cruise ship takes about five years. It's the time that's the problem, not just the money. Now, time is is right for Disney if they do it. You know why? Because the new CEO, Josh D'Amaro, well, he's ran the the ship business. So, I say we buy Norwegian and put the emphasis emphasis on entertainment and not linear TV, which is that would be behind us.
David Faber I talk about linear TV all the time and we know how terrible it's doing. Tuesday morning's back to retail. Target's got a new CEO, Mike Vitelli, and I imagine we're going to start with him holding him accountable instantly, even though he just got the job. His predecessor, Brian Cornell, took matters into his own hands immediately when he became CEO and shed the money-losing Canadian division, which was just crushing Target.
It was a gutsy thing and people loved them immediately. Target's situation is a difficult one. It lacks the scale and reach of Amazon, Walmart, or Costco. Mike's going to have to reinvent to stay relevant, I think, and he's got to do it quickly. Best Buy reports. Now, this is a tricky one. Uh we keep hearing that they'll be punished for having too many devices that are going up in price because of the cost of memory.
The cost of memory, like those little semiconductors, really seems to matter these days to even the PC business or the gaming business. After the close, CrowdStrike reports. Now, this is an incredibly skilled outfit that protects a huge number of clients from cybercriminals. Its CEO, George Kurtz, is a maniac for stopping cyberterrorism and they play offense all the time.
CrowdStrike's an expensive stock though and it and its price-to-earnings multiple got compressed when Anthropic, the very aggressive business-to-business AI platform, last week invaded its turf with something that can help make AI agents safer. Look, in reality, CrowdStrike doesn't actually compete with Anthropic.
They're like partners, for heaven's sake. So, it shouldn't have been crushed like that. But the stock hasn't stepped back, either, because these days investors simply don't want to pay up for quality merchandise. I stand by CrowdStrike, which is why we own it for the travel trust. One day soon, expertise will matter again and the stock will go higher, but maybe not in time for CrowdStrike's quarter.
Wednesday morning, we can hear from a real tricky one, too. A lot of tricky ones next week. Brown-Forman. This is the maker of Jack Daniel's. I know the liquor market's gotten tough because of pesky young people who don't like to drink much, and instead like to work out. And plus, there's this GLP-1 issue.
But, but why is the stock up more than 10% year-to-date? Could there be something going on here? Something good? Something that's not good to its competitor Diageo, which is doing really badly. After Broadcom reports, a $1.5 trillion company makes semis and software. Really doesn't get enough attention given its size.
Now, some of the chips are sold to to Alphabet, which is a big buyer. That said, Broadcom needs to get new clients. Right now, it's caught in the software decline stemming from AI fears. I think the decline's wrong. Um You don't get to $1.5 trillion for doing nothing, right? But, you know what? This is one of those that's just too hard to own right now, and I know that.
And I was sensing that today when we had our monthly meeting. Now, we're going to listen to Okta, too, the company that protects identities. I'm sure that CEO Todd McKinnon will do a good job. I just don't know, once again, if it matters. Because this market seems to decided that anything Okta can do, a chatbot can do better.
Next, I have a special place in my heart for Costco. I stop every time I see one when I'm on the road. They're almost always exciting and different. You need to go aisle-by-isle to get the goods. I grab my own cart. My wife gets a different cart cuz we don't like the same stuff. We do end up at the register and try to merge, even though others don't like that cuz we get in front of them.
I don't mean to really cut like that. She has the credit card, not me. I try to go on an empty stomach so I can eat the samples. Never go to Costco on a full stomach. There If you only take one thing away from the show, it's that. All that said, we want to see how many people re-up when their Costco cards expire.
That's the key number now, the key metric. Lately, the number hasn't progressed. In fact, it's going downhill. What is that about? I think it's largely younger people who fall out of love with Costco. They They do They do e-commerce. They don't know what a bargain looks like if it hit them over the head, anyway.
They're silly. Marvell Tech reports on Thursday, and people are expecting big things because of its partnerships with several hyperscalers, most notably Amazon Web Services, which is selling out of its chips. The demand is so big here that it was uh mentioned by name uh in today's when when we when everyone was talking about it.
Marvell CEO Matt Murphy does a remarkable job. I think the stock's a buy going into the quarter. That's right. I'm actually recommending buying Marvell ahead of the of the earnings. Now, also on Thursday, very exciting, Caterpillar's part of a fireside chat at Conexpo. That's an annual construction trade show that you and I probably don't go to, but sounds like a real hoot.
Their CEO Joe Creed, a total straight shooter, might talk about how people are using Caterpillar generators to power data centers. All very exciting. I kick myself daily for not getting into that one, and I don't know if they'll let me out from my job here to go attend Conexpo. Maybe next year. Finally, on Friday, we get the Labor Department's nonfarm payroll figures.
We'll keep waiting to see the impact of AI on employment. We haven't seen it yet, but you know why? I think it's because the expected firms aren't really laying off anyone. They're just hiring fewer people or none at all. Bottom line, this was a bruising week capping off a bitter month. Let's hope March doesn't come in like a lion or a bear, but I can't imagine how we're going to see a steer and how we'll ever find this miserable place after this week.
Hey, how about we got a Cordell Cordell in Ohio? Cordell. Thank you, Jim, for having me on today. Have good evening. thrilled you're on the show. Thrilled. Okay. Thank you. Um I appreciate everything you do for the investors that uh invest with you and also for that call into your show um and just wanted to thank you for all your information.
Aw, thank you, man. You know, we try so hard and it's great when I hear it because it makes it all worthwhile. Thank you. How can I help you? Well, I'm calling in about a company that's currently up for the year and I was just wondering due to multi-expansion and pricing for products and I know that I believe this company has a pretty solid management team.
What other headwinds will face a company like Starbucks due to tariffs that came up in It's a great question. Okay, here's the other things that can really hurt Starbucks and you know, I'm a big believer in a big position but I travel trust. What can hurt them is the inability to be able to close all the stores that weren't doing that well and then put the money towards the ones that are doing well.
And that's what you have That's how you have to get same-store sales and it's very difficult for Brian Nickel to say, "Okay, that store close, this store open." We see a lot of it in New York, by the way. He has to get the Starbucks into the middle of the country. They're underrepresented in the middle and they're overrepresented in the coast and I think he's going to take care of that but it just takes time.
I want to go to Ned in Ohio. Ned. Hello, Professor Cramer. It's been great to hear you back on the Mad Money program this week, sir. How are you? Thank you. I am fine, thank you. How are you? I'm doing well, sir. By the way, I want to wish you a belated happy birthday. I remember your birthday because it's one day ahead of mine.
Oh, well, there you go. He's Feb 11th. Isn't that terrific? Am I saying the same day same as my best friend David Hass when I was growing up? All right, so how do we go Let's work together. What do we have? Well, I I want ask you about KeyCorp. I I've held it for a while and and it's appreciated over time and I'm wondering
to hold it. Just continue got that 4% yield. You got Chris Gorman doing this job. You've got a $20 stock down a dollar today. I actually would advise people if this stock fell to 19, I think you pull the trigger. I am a big backer of KeyCorp. All right, February was a rough month. Let's hope March is a little better.
Too much to ask? I'm out of here tonight. Companies that build things are hot stocks right now. So, is now the time to build a position in one that you were is going to knock your socks off. It's called Sterling Infrastructure. Don't miss my exclusive with the company's top brass. And flutter shares have been dropping out of the sky lately.
What is that going on there? I'm taking a closer look at the gaming industry. You probably don't want to hear anything about it, but we're still going to learn. And we held our investing club monthly meeting today, and we had so many great questions from members. We decided to take a few more tonight so you get a feel about what the club's all about. .
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