 All right, good Tuesday morning everyone we are on the floor of the New York Stock Exchange with Jim Kramer to talk about the markets and Jim Let's begin with oil plunging. Yeah, no that our target had been 43 And I arrived that because Carly Garner who I regard as being one of the great commodities people of our time who writes for real Money had been saying listen, we're gonna make a stand at 43. Maybe we break it and then maybe we come Bounce back. She says it's going it's going to be pretty messy right here I contacted her of course because when it was at 53 She said it was going to 43 so she has tremendous tremendous credibility in my eyes and I look at it And I say to myself, okay, you don't immediately lower your target if your target was 43 don't start saying this 41 There's a there was someone on this morning was saying hey listen. I think it's gonna trade the high 30s I'm a Carly. I think it makes kind of a stand here, and I think you get a whoosh back Are we also so quite a rebound in tech stocks? Yeah, I mean tech it looks like the seller stopped them I'd like I'm trying to get people to understand the way trading works in which the way trading works is We have these very big firms and they let's say they switch and say we have too much tech Well, you can't just unload tech anymore. What happens is there's a great dislocation because firms don't principle like they used to I had Lloyd blank find on last and he said listen There's there is an issue of intent You can't just go buy all the stock from someone a regulator might find that your your intent is to profit from that When the reality is is that you're all you're trying to do is what's known as positioning in order to make it So that you can then find buyers so some what you can't position anymore So what it's very dicey to position because the regulators might say what are you doing? So instead these guys come in and they blow out of stock the buyers know they're blowing out So the buyers walk away Which is a shame they should be in there by you see it you've got to have courage to buy the dip That's one of the reasons why people think wow, you know a dip that's just such a Such a ridiculous way to do things well It has to do with the notion that that's the point of most pain Because the big sellers come in you don't know when the sellers done So you have to buy on that dip the sellers clearly finished and then once the sellers finished whoosh right back up That has been the pattern now for many years. It looks like to be the pattern again You mentioned Lloyd Blank find that was a fabulous and you got him to talk about tweeting Yeah, I mean Lloyd is he's done with letting the firm be characterized by others He wants to be characterized by himself three of six by the way have been somewhat critical of the president He said look I reflect the I want to defend the institution now. I've been I've known Lloyd for for 30 let's see 1983 I don't know 34 years and Lloyd is a guy who Represents to me a lot. I mean I just played with an open hand I mean I've known it for a long time. He was very helpful for me in my career It's always very kind to me and it's very hard to say anything like other and good works because they came through the Great Recession Well, but he did say something very interesting He said if you came through a well that means you must have done bad and he doesn't want that to be that kind of defining thing He also explained once again How people are supposed to be committed to public service as part of their job now you could say even that is cynical It's like oh, of course That's to be able to join boards and meet wealthy people and get and then get their business No, is it a virtuous circle? I mean, here's what I say. I Could have made more money had I not had to go do I you know go to community service I yeah, you could have I mean, but that's you know, that's short-term greedy. That's not the way he thinks Also, I mean, let me point out that there are people who do revolving door Like they go work for their company then they go to government they learn things and then they go back to the government go back to their firm and Really profit off what they learned from the government and that's pretty venal The people I work with at Goldman who when went subsequently went on did not go back It was like I did my time I made my money and now I'm gonna go do the great things and that was really another lesson that I learned at the firm Which is that you know, you can make us enough money and once you've made enough money Why don't you go do something good now somehow that's been interpreted as being Goldman having these Octopus tentacles everywhere, but what it really was was the ethos The ethos was you made a lot of money go do something for the government go do something good for the world and a vast Majority of my friends who retired from Goldman and many of them have because they did very good Well are doing these great things Building schools or working in the environment or helping certain charities full-time or Doing things that are great for themselves, but also great for humanity or helping particular causes I could go over and over and over the number of people Goldman who are working Who work at Goldman when I was there who are now doing these great charities or they're working in government minutia Or oh, you know, obviously Gary Cohen who was a friend and I was joking with Lloyd It's like, you know, you want to have I mean, I know Carrie pretty well and you have to call Mr. Cohn or you know, whatever yeah, and I don't like to pretend because I'm not You know, I'm a guy who was a business guy who came into journalism And it's hard for me to act as if I don't know Gary Cohn is when I was at his birthday party last year It's hard for me to say I don't know Lloyd when Lloyd was the only person who was nice to me for the first six months And I was a Goldman. I mean you remember this stuff and and so it's a little more problematic for me to assert myself I know I do it. I want to do what's right for the viewers. I always want to do so I asked, you know, I asked the question about whether the they were fine. I mean, what was that all about? I asked the question wouldn't they do better without the Volcker rule? I do my job But I also do my job within the confines of being conversational not trying to play gotcha because I just don't think there's a gotcha there And you have another big interview coming up tonight on med money with the CEO of IBM Yeah, Jenny Rometti is a person who I think has tried mightily to get IBM to be far more analytical far more cognitive That's what the Watson stand it stands for Artificial intelligence for all the things that we hear about from the great people in tech right now whether be Jeff Bezos Whether it be Mark Benioff whether it be the people run Google and people run fate Mark Zuckerberg the issue here is they've got a big legacy business and how do you Deal with that legacy business which hurts your gross margins and is dropping off and at the same time be able to make Enough money on the cognitive businesses on the you know these special businesses that are growing fast And also how do we deal with the Warren Buffett issue that he decided that he didn't want to be as big although We still owns a lot. How do we how does she remember any deal? Frankly? I'm going to ask her There's so few women it who are CEOs. You know, that's like my kids. I have two daughters And they're saying dad you never have women and I say no, I do have women one I try to have as many women on as possible It's just that there's not many women CEOs and my daughters don't understand that all they say well good dad You just better get them all and and I'm fortunate enough to have Jenny Rometti But I'm also always thinking the back of my mind that my two daughters are saying dad What is it about women that you won't put them on and I have to explain the real situation? All right, that's tonight 6 p.m. Eastern on CNBC Jim also and video was upgraded by Pacific Crest But more importantly your dog Everest I mean, what is it? Why are dogs only have a name one name? I mean, it's ridiculous ever sits down at dinner with me I don't want him to he just is a poacher, but I just feel like it should be more formal So I have said that he is a last name and his name is NVIDIA in that from now on he's mr. Everest in video and I put a picture up I tweeted him and mr. NVIDIA will be treated with a different level respect and I urge you to send me your dog with a picture Okay, and I want the dog named the stock now listen NVIDIA is taking okay So you got to come up with a creative name that looks and feels like your dog That's a stock that's been good to you and I'll retweet the best Because I think that every dog deserves a last name Everest is a total rescue dog He's a complete mutt. He is like 40 different kinds of dog. Okay, but you know what dogs deserve respect So his name is mr. Everest NVIDIA Is bug gonna get jealous? I you know what bug is You know bug is like my night, you know, it's like Oscar Meyer with bug You know, he's got a first name at a last. I don't know I haven't decided what bugs name should be yet, but he deserves I don't know Everest has been so much better to me of late and bug has really shown me so little respect Right now right now. He's fine as bug, but NVIDIA is mr. Everest, you know Everest mr. NVIDIA I have to tell you I'm gonna be with bug tomorrow if he doesn't clean up his act I may not even call him bug. Whoa. Yeah, he's gonna be chief I'm gonna chief him. That's what I do or sport or skipper. He shows me zero respect He's got to stop peeing in a corner there to him. What is that about? Hey, yeah, hey, well, that's a little granular. Maybe too much information bug. Listen up Everest does not ever mr. Mr. NVIDIA would never do anything like that. Never. No, it's just not a stop All right, Jim. Let's also talk about amazon. Hopefully CEO John Mackey loves amazon. Yeah, you know, I mean he hates jenna John though john for a long time John had made so many upgrades and jenna was still persistent when he put ron shake on the board Elevating gabby solsburger to chairman and bringing some outsider cf new cfo And it was never enough for jenna jenna wanted it sold and I think at the end John Mackey said, you know what? I don't need this. I don't need this. I'd rather just hook up with amazon and dominate Uh, I I have tremendous respect for john and what he built. Uh, he built a great institution I love the shop there. I know the numbers have not been great of late But let's have respect for this man who built an amazing institution All right, and then on mad dash on squawk on the street you talked about mcdonnell Yeah, you look steve easter brook. Does he get enough credit? I mean remember when everybody said sell the stock because we've now annualized The all-day breakfast as if you were a one-dimensional character. This is a man who understands the actual Mojo I asked him if I could use the word mojo. He said it was okay to use the word mojo mojo of the franchise ease He's got them energized. He's got them adding shifts. He's got them adding workers. He simplified the menu You no longer need to be from mit or stamp for computing in order to be able to understand the menu Uh, and the changes he's brought great value. He's bringing digital What more can you ask? How about a hundred and eighty dollar target a target price from callan? All right, and then on stop trading you talked about paychecks Yeah, you know paychecks is a company a very high taxpayer the american company But versus doing a terrific job with the float the money that they take in in order, you know, and then they Issue checks they get that little float those days and that's terrific as the fed raises rates But they said but these guys goldman says it's not enough and it's also a question I mean it's almost like they're saying that uh tax reform is also going to hurt economic expansion Because it's not happening. This is a kind of pushback to say what treasury secretary munition saying which is that it's all systems go I'm just not seeing the all systems go friendly What did you make of lennar's quarterly results? Well, I haven't been able to listen to comms call I I saw that stewart miller put up excellent numbers once again lennar and tow brothers have been fantastic stocks They tend to have to go and fits and starts they go up then they shrink back a little bit Then they go up again lennar's got the best numbers in 10 years. How do you quarrel with that? All right, and then jim will end as we always do with earnings to watch we have a few names today adobe an actual arts plus name Yes, now, I mean adobe let me be very very consistent adobe We bought a ton of adobe last time when it reported because people didn't like the quarter and then when they took a deeper look They love the quarter. So keep your powder dry if you don't know adobe I think a better chance could come if it doesn't what can I do? FedEx is also reporting FedEx. I think is I want to hear what they have to say about privatization Now UPS announced the surcharge. I think FedEx gives FedEx a chance to also put through a surcharge for the busy times I do think that FedEx. I wish that they would turn over the air You know many airports to FedEx. They know how to run an airport All right, and then on Wednesday we have oracle reporting oracles consistently made the quarter of late after being inconsistent for a while They have a burgeoning cloud business That larry ellison and mark herds going to talk about Safra Katz met with the president yesterday. She's one of the most accomplished people in silicon valley. I really like these people I think they'll do a good number. The problem is it's got no beta. I mean it doesn't move much But you know what for a quiet stock that's going up quietly where they're buying back a lot of stock That's oracle All right, then we also had one more name chipotle also is expecting some higher cost Okay chipotle, uh, why are people shocked by this? Of course, they're going to expect higher costs I mean they've said it over and over again remember 18 months and then you're going to have What I regard as being a very very forgiving public you have to go 18 months to have a forgiving public though And we're almost there remember december 7th 2015 And once the people have really forgotten then the marketing cost can go down. All right jim kramer We'll leave it there. Thank you so much as always all right for more information on the stocks to mention Please head back to the street.com