 All right, good Monday morning, everyone. We are on the floor of the New York Stock Exchange with Jim Cranber to talk about the markets. And Jim, let's start with Nelson Peltz seeking a board seat on P&G. Yeah, I don't know why they don't have more. And I've dealt with all but one company that has put him on. And all the CEOs are quite happy. And that's not just for the record. It's off the record. I kept always trying to figure out whether he's ever disruptive force. Most people have said point blank, including other board members. He brings a lot to the parties. The thoughtful guy who packaged goods has been his thing. He's done a fantastic job. And it would have just been so much easier for Proctor to say, you know what, we welcome it. You've got some good ideas. Now Proctor itself has tried mightily to cut costs, tried mightily to take back share. But the fact is its total shareholder return is subpar versus the group in the market. That can't be argued with. So why not have someone else from the outside who's done such a good job? So I think that if I were a shareholder in Proctor, my charitable trust is not, we would certainly welcome Nelson Peltz to that board. All right, well, watch how it plays out. Also Amazon filing trademark for meal kit services. You know, we've been very against this apron company. And I just think that it's become the zinga of this moment. They did the right thing. They raised money when they could. They cut the price range of where they were doing it over and over and over again. Finally settled at 10. It was just a plain old bad deal. Bad deal for the people who bought. But a great deal for Blue Apron. Now they have the money to be able to withstand a challenge from Amazon. The problem is no one's ever beaten Amazon. And Amazon is the 27 Yankees. No one beats Amazon. All right, meanwhile on Mad Dash on Squawk in the Street, you talked about BNY Mellon. Yeah, you know, look, Charlie Sharf is a favorite of mine. Charlie doesn't do it. He's not a publicity seeker. But he did a remarkable job at Visa, which is an amazing stock. Al Kelly's doing a great job now, too. That was Charlie Sharf's prept and gave him a very good hand because he bought Visa International and Al Kelly's also fantastic. But Charlie will be great. Charlie always wanted to be in New York. Bank of New York is a pretty good bank. It's up 10% for the year. I've always liked it. It's got a very kind of classic, much more back office, much more, when I say back office, it's not a trading firm, so to speak. It really helps and facilitates the big mutual funds. It does a lot of custody work. I think Charlie's going to be remarkable for them, and it's a buy now that Charlie's there. It's just a plan old buy. You buy where Charlie goes. He's that good. All right, meanwhile, Tesla CEO Elon Musk basically acknowledging that his stock is at a sky-high level. Well, look, I mean, Tesla is the classic example, like Netflix, of a company that people either think it's an entertainment company or it's a tech company. If it's a tech company, then Tesla's not expensive the ability for it to be able to take all of its technology and transfer it to other things. If it is an auto company, it's clearly expensive, and you have to make up your mind what you think it is. In the same way that I had a discussion last week, there's a really fine analyst who was saying that Netflix on a discounted cash flow should be much lower. If you look at Tesla on a discounted cash flow, it should be much lower. If you look at it as like Netflix as a kind of a product machine that people like that could do so much more then I think what you do is you would find, you know what, this is a very interesting opportunity which is particularly why I have not opined plus or negative on Netflix, oh and I like Netflix on Tesla because it's just too hard. Now I take more views on anyone else in the world on stocks, please do not ask me to take a view on Tesla. Well, there you go. All right, Jim, you mentioned Netflix, anything you're looking for with their earnings? Well, you know, Netflix is really a case of what do they have content-wise that's driving things and I feel that they've got a number of things. Excuse me, when I look at Netflix, what I look at is international sign-ups and I think people don't understand, a lot of their content is really designed to play in other places and a lot of their content is designed to get the ball rolling in different countries and it's been miraculous in doing that and Netflix I was saying for a long time it should have been bought by others, it's absolutely terrific and I'm not backing away, I think Netflix is a great company. All right, Morgan Stanley is out with a note about Apple saying the iPhone age could get a little delayed. Yeah, now Katie Ubrity is a very big fan of Apple and what she's saying basically is she's transferring numbers to a very high number in fiscal year 2018. I remain steadfast that you want to own Apple, that you don't want to trade it, a lot of the analysts really would prefer you to trade it to go out of it when they feel like that the launch may not be coming and then into it when the launch comes. These have been feudal, this is a consumer products company. I urge you to think of it on the same way that you would get Proctor. Now Proctor sells at 23 times earnings, obviously that would send Apple sky high but Proctor has a number, more than $20 billion brands, Apple doesn't have that. I continue to think that if the service revenue stream will grow then I think you would find that Apple deserves a higher multiple. There are some analysts who think the service revenue stream is already being stunted. I've not seen that, I continue to believe that Apple's new phone will be excellent and I like the situation so much that I continue to think that when you see the kind of worry about the delay of the iPhone I think that's being short-sighted. Apple will not put out a product until they think it's right, no more than Proctor put out a bad shampoo. Apple key, actual alerts holding. Yeah, it's been forever. And you look, there's a nice article in the Wall Street Journal about what stocks you needed in order to be able to do well and we've been emphasizing, when we look at a portfolio, when we have the trust it's really important people realize we don't emphasize all the stocks, we're just not traders. We've been emphasizing that you should own Facebook and Google and Apple and those are ones that have provided a lot of the performance. When we have a stock or stocks that we don't think are about to take off or are challenged, we just don't push them. Which is why this is a club, kind of like a recommended list club that a brokerage house would have and not of a fund manager. People want to make it so that I'm a hedge fund manager well then I would be unfettered in what I can do. It's clearly not the case. You always want to see what we're emphasizing. That's why we stress the monthly calls, that's why we stress the weekly bulletins, that's why we stress the daily bulletins. It's a club and the club has been pushed toward, we just did Facebook, we just did Google and Apple is supposed to be own not trade. All right, you heard it from Jim. Let's also end with earnings to watch. We talked about B&Y Mellon earlier. What do you expect you from Bank of America and Goldman Sachs? Well Bank of America is really a two fold play. One is it on credit balances as the Fed raises rates. It's very, very good. And the other I find is just Brian Moynihan has dedicated a huge amount of money to technology, much more of a technology play. So I like Bank of America, I do think that it's a great long term hold. Goldman Sachs has moved up in anticipation of the quarter. That could put some pressure on given how much sales and trading matters but at the same time, if you believe in deregulation and you think that companies are going to be able to do a lot more in trading, Goldman would dominate when I was there. We dominated on sales and trading and that is a very good business for Goldman and I think people underestimate how much money can be made in that business. All right, next up, United Continental Holdings. Oh, okay. United Continental Holdings, that stock has moved up tremendously even since we saw the dragging of the passenger off it and I feel like that United Continental Holdings is ahead of itself versus the rest of the group. Southwest has come back a bunch of points because people feel that its price or its multiple is too high. I would urge you to think that now it's come down that Southwest is a better buy. All right, what about United Health? United Health is a buy. United Health stock last time you had a break in it. It was the Justice Department talking about some sort of lawsuit. United Health is the company that pulled out of the healthcare exchanges very early on. They are the most profitable company in the group and I continue to think that stock goes to 200. What else? All right, a defense named Lockheed Martin. Okay, Lockheed Martin I think goes to 300. I think that the company's got a lot of good business. Don't forget they've got an international business not just US and I think that the F-35 is on target. Marilyn Euston's done a great job. She's not a publicity alien but remember we are urging other countries to buy our weapons. In many ways President Trump has really said, listen we're not gonna defend you anymore but in order to be able to defend yourself you do need a Lockheed Martin. They are a very good group of people. I do think that Sikorsky turned around United Technologies sold that to them and it turned out to be a hefty price. It's taken a little while for that to come around because Sikorsky was uniquely also oil and gas because that's what she used to visit offshore. Remember offshore is really just more abundant. When we talk about oil, by the way, just mentioning oil, there was a downgrade today by Wolf Research on Apache and I think that was very wrong headed. This is a key position for ActionAlarsPlus.com and I think Apache is one of the few that I would just say you can buy. I do think I talked to Carly Garner this weekend. Carly Garner is my oil expert and I do believe that oil can go to 50 and I think that Apache is the way to play that and natural gas, I'm steadfast on that. Another one I'm looking at this week is SnapOn. I see the stock starting to catch a bid. It's been going down with O'Reilly. It's been going down with advanced auto parts. It's been going down with AutoZone. I think it's been challenged repeatedly by people and I like the upside here but I also understand that people feel like if it misses it's going to be dreadful. Let's see what they have to say before we decide that it's going to miss. Last time it was up nine on a short squeeze but I recognize the industry has challenged which is why on our conference call last week which I urged people to go listen to. I did not make it an emphasized stock. It was not something that I said had to be owned right now of the ones that I think should be owned right now I urge people to look at Abbott Labs. Also please check our billboard, our bullpen because we've got some very good names on it that I think people should be expecting that we are going to emphasize. And then I want to emphasize Broadcom. There's a couple of notes today about how Broadcom could go to 300. I actually think that's conservative. On any sort of multiple expansion, Broadcom would blow right through that. So it is probably of the stocks we have. My most favorite, I wish we had gotten more in. It took off. That is often the case with Action Alerts is we'll get started with a stock that'll take off. We do have to hope it comes back down. Take a look at our bullpen note by the way on Nvidia. We are forever hopeful that Nvidia will come down. Like we were with Illinois Toolworks. It has not occurred. But I want people to stay close to our bullpen. We've been sending a lot out. Watch Slumber Shade by the way. If that stock starts coming back, I think that we may have to say, okay look, maybe oil is for real. That's largely offshore, not onshore. Don't forget GE reports this week and maybe they can tell a good story about Baker use. This will be Jeff Immelt's swan song. The stock has come down. It is one of the worst performing stocks in the Dow. We don't recommend that you sell it down here at 26. I do want to hear a thesis articulated about why we should buy it at 26 from the company. Right now we need better cash flow. They did promise better cash flow in Q2. If they deliver that, I think the stock can go to 28. If there's a reset and they decide to cut back the buyback, then I think people just say, okay, I want to wait and see what Flannery does. The new incoming CEO at General Electric. All right, Jim Cramer, we'll leave it there. Thank you so much as always. And for more information on the Stocks in Jim's portfolio, please head to ActionAlertsPlus.com.