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bad money starts now hey I'm creeped locally-made money what will America be e teach you context night chip Kramer if you're not confused you're not paying attention we've reached the point of maximum disorientation something happens every year earning season when there's too much to keep track of the action seems to stop making sense even after a low-key session Dow gained 46 point this would be advanced point to 8% that's that climb point one diver said you have every right to be extremely frustrated stocks that should be going up or going down stocks that should be down or going up human sacrifice dogs and cats living together mass hysteria understand otherwise you'll have no idea what's going on you know what a cool investor does a clueless investor so let me walk you through some of the today's craziest examples I'm gonna start with caterpillar had a coin stock huge shortfall in response of course the stock correctly plunged six percent in early morning trading while I thought it was a bit of an overreaction there's nothing to use a lot of stock going down and disappointing numbers is there it's what happens next that's hard to explain that bottom down six percent and slowly rebounded if you sold it you're the low hey listen man you're a dope as the stock called me closed up more than one percent why because this is not the same old caterpillar we're short for like the one that we saw this morning with resultant layoffs suspension the buyback maybe even a dividend slice this is the new category a company has been shaped by Jim up abatement hey listen he's not in Peoria and where's the Chicago and it was from the beginning of 2017 when he took over that all this is happening you see he made it clear that he had had it with cats episodic business model he was done with a miserable boom-and-bust cycle that had made this one of the toughest industrial zone and factly one of the best short most investors didn't believe him I mean how the heck do you make a machinery company less cyclical but I will be wanting a clean break with the past and that's exactly what he gave you so in caterpillar slashed its forecast what does he do he tells us the buyback will continue unabated dividends not indeed thanks to relentless cost cuts the new cat makes more with less you're listening to comScore you tell the moment when the bad story turned good because it's when the analyst started sounding totally but follow I mean the question is created a very positive impression I was like wow I mean hey this isn't as bad as it used to be this is a new cat it really is more consistent it really can't deliver could or any story a worldwide slowdown I know I was spooked initially I figured it was the same old same old I was wrong then even better caterpillar shared some monthly machinery numbers which showed month-to-month improvement just when you at least of course expected this new cat is the kind of industrial you can stick with during a downturn rather than worrying about cat either you should buy it and weakness knowing you'll be protected by that buy back and that dividend now there's also Boeing Boeing okay the news from Boeing lately that's bears yes right we're seeing almost daily revelations about the alleged wrongdoing behind the 737 max Fiasco and these stories they make you feel like is it only a masochist would want to own this stock but then reported a pretty nasty number this morning what happened I'm down 5% down 10% maybe down 15% no you know it went higher the reality of percent as the market lost his mind no management stably late Alison area that said safety willing we'll see the 737 max in the air sooner rather than later of course it's hard to predict when and I thought the headline writers simply didn't read the conference call when they predicted the plane would fly again in the fourth quarter what Boeing really said is that the 737 max will be ready when the regulator's say it's safe which might take a little longer even though accounting rules make it so they had to make a projection the projection was a bullish woman the core reminded me that Boeing actually is still benefiting from a fabulous secular trend that's been obscured by all the headlines the relentless rise in air travel there are only two companies on earth that Bruce large quantities commercial aircraft Boeing and Airbus believe it or not the airlines need these planes no matter how bad the 737 max story gets it is bad ball weighs practically on your cap and look this company is not a one-trick pony it's got a major service revenue stream got a gigantic defense business and of course they make plenty of other planes that aren't the 737 max hey like the Dreamliner let me put it this way if the Chinese government wants to offer gesture of good faith as part of the trade negotiations they just need to pick up the phone and say you know what we want a couple exit Dreamliners each month that's all would take no it's not a perfect story we still don't know when the regulators will let the most popular plane fly again and boy still hasn't been able to get ahead of the relentless drumbeat of bedhead morons but for the first time in a while you know what I feel like maybe the press including moi has gotten too negative I expect more horrifying revelations more ugly head headlines more reports issued by countries where there were tragedies but you know what I think we may be through the worst of it which means we can go back to focusing on the otherwise terrific core business third is Apple now not that long ago analysts turned and they turned horribly against Apple you remember I mean like um I thought of Apple what did I think of spam alright claiming the new iPhone level was bust the Chinese were gonna boycott boycott the thing that President Trump paid I mean it was unbelievable stocks spent a whole month and they getting steamrolled but Apple's made a magnificent come back unless night KTU breed the terrific tech analyst at Morgan Stanley shocked Wall Street with a gigantic price target boost you're pretty argues that we should stop worrying about potential shortfalls start focusing on how much Apple can make from its new TV offering which everyone is poo-pooing now you breached the apps in Apple the analysts were the best understanding the businesses she says the new service stream could be huge when Apple reports next week it's very possible the stock was so often see is this run going into the quarter including the other three bucks and changed today when you already makes a compelling case for my longtime mantra own Apple don't trade it especially since the role of 5g will be the biggest iPhone refresh cycle of all so I get what will happen of course the couple of report all these annals I mean some of these let more circumspect generals will say negative things stock will come down you had another chance what about the stocks that got hammered even though they didn't deserve it too all these plummeted more than 5% today after porting an amazing court that said I'm not shedding any tears for Chipotle stock warned 80% fourth year when I look over that quarter I think you're being given a rare buying opportunity here and a probably Nicollet come on the show but Bieber's on another show that's fine that's fine that we all play together we're team players here but he's got a loyalty plan ramping up some food costs going down including by the way did you hear he found another source for avocados hey Bart see Miguel's getting crushed by avocados not in do you know they make them in Peru nil and he's got digitisation this just taking hold what's not going and then 11% same store sales growth for Evans sake the stock was due for some profit taking two more while I'm at I'm throwing them at you outstanding company like Microsoft reports outstanding quarter you know that's a goner right outstanding is outstanding a student as an A student but how about this when Tesla reports the surprise profit it's to the moon Alice and that's what happened this evening I think I know the secret to Tesla success CEO Elon Musk is tweeting and taunting less spending more time making Tesla's the bottom line this is the most difficult part of Ernie season right now when the reports are overwhelming it's very hard to make sense of the action caterpillar disappoints and Wars higher - probably knocks it out the park gets hammered but it all makes sense when you consider the expectations coming into the quarter and the stripes get changed like a caterpillar where the numbers are worse than fear but the conference calls better than we could ever hope for and management is unexpectedly talking about protecting the dividend and buy them back even more stock know the market hasn't lost its mine there's just more going on then you may be aware of hey how do we got it let's go to Joe in New York Joe mr.
Kramer yeah beyond my delight yeah I currently own Cisco Systems since 2009 and I'm hearing a mixed reviews from the analysts they also heard at Carol Thome from Home Depot's on board yes how they join the board she joined the board that's for a good point yeah and then Cisco just an acquired cloud Centuri well Cisco Kid remains a friend of mine now as if done well way we know is it expensive no does it have a good yield yeah is Chuck Robins doing a fine job yes is it dangerous to own or to king Dale I say listen I know investing can sometimes get confusing I mean I know people are confusing spam with Apple how absurd is that but uh it opens Oh where's the spa I love drinking spam juice everybody knows that but other times like Ernie season the accent makes total sense and well frankly it's what we bank them and what we believe when they have money hey here's a question since you hit to ride on the rails with CSX time hoppy word to talk about everything from the auto market to energy do not miss bicycle to the CEO and medical technologies Porsche generate nearly 600 billion dollars in sales by 2024 after the recent moves higher in the space you're probably wondering is it time to take profits money wait for my cake and it was a game of musical chairs left chairs that's a Nike service now let's say P all announcing big CEO changes tonight I'm talking to two men in the mix sir mix-a-lot still [
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