 All right, it is time to talk about the markets with Jim Kramer on the floor of the New York Stock Exchange and Jim Let's begin with JC Penney's results. Yeah, look I mean Penny was a top-line miss. They said that things were getting better throughout the quarter No one really seems to care anymore. I think that JC Penney is another one of these raised on debt Questions, what is it? What's its reason for being doesn't have anything that's really important? It says Sephora, but you obviously that's just a franchise that Sephora is a standalone It's got some home stuff but furnishings, but remember that's what Amazon now says is going in again So when you see a penny you say to yourself, I don't know Why does it need to exist now? I happen to like going penny that penny they have a nice penny They have good values, but it's not enough anymore because of Amazon. Well speaking of Amazon You mentioned in real money how Amazon is just killing Nordstrom Yeah I mean Nordstrom is basically always seemed to know its customer better than anyone else That was its hallmark But when you with the subtext of why Nordstrom didn't do well is that they do not know their customer nearly as well as Amazon does As a matter of fact, there's a moment in the call where they say look, you know We find out that people who go to rack they tend maybe they go to like our big stores big stores were down 6.4% in the comp basis and I did say that their stores are all cash flow positive But in the end that doesn't matter because if the business is beginning to erode it will go away Look at the t-von and numbers that Starbucks have when they finally realize Starbucks is the first to recognize the models going way that It things can snowball. So yes right now Nordstrom's is doing not that horrible But their stock is reflecting the fact that it will do worse. That was quite an interview last night with Paul Pullman I'm mad money. Yeah, well Paul Pullman was adamant that there was no real Engagement on his end to when Kraft Heinz made its bid we sold our Kraft Heinz when they did make that bid because Kraft Heinz is doing quite poorly and one of the things I would say is Kraft Heinz is overvalued if they can't do a hostile bid if they Can't get a food company. They cannot do their zero-based budgeting. It's so great. Paul Pullman's put up the best numbers He's up 30% he's got a big buyback. He boosted the dividend He's getting rid of brands that don't grow and adding brands to do grow Paul Pullman is the hero of this era right now when it comes to food All right moving to Wells Fargo an action alerts name Baird is out with a note saying the company is slowly turning her Yeah, no Wells Fargo is just like Chipotle when you have this kind of disaster takes 18 months now It's very funny. I Jack Hart on the other day on may have money He is the CFO of Chipotle. He said listen Jim the whole time you were absolutely right. It's taking 18 months That's when people forget so, you know, you've got a while before you annualize now We'll stay long Wells Fargo because we think the feds going to race race and they make a lot of money But Wells Fargo shot itself in the foot in 18 months Oh, well actually now you're talking about say nine months You will begin to start thinking that what what did Wells Fargo do because that's the way the American mime works Interesting. All right, moving on GE downgraded by Deutsche Bank. It's very powerful downgrading. It's a bad name for us I I had hoped that they would do some of the things that we're not down much on it But the pieces about cash flow and weak cash flow I mean they did not have good cash flow But they said it was really one off and the cash flows going to bounce right back So if the cash flow bounces right back, then you shouldn't worry about GE if it doesn't then the Deutsche Bank note is going to hold true The orders were very good for GE, but it's quite obvious from this downgrade that Deutsche Bank is questioning the dividend Okay Now when you interviewed Tim Cook of Apple incredible interview he announced a one billion dollar fund and Corning is now going to get Yes, we saw they have the first 200 million to develop revolutionary Glass right here in this country. So Tim Cook immediately true to his word I would point out that Tim Cook stock is going up and up and up There's a couple of very positive notes today including a note from Goldman about the thousand dollar phone And the thousand dollar phone will have a lot of different features But it'll be a lot more like the seven plus which turns out to be a cord never cord cutter because the Form size is something that a lot of people like definitely in China to be able to watch a lot of TV And just a reminder Apple is a whole thing of action alerts plus. Thank you And then finally on stop trading you talked about Dick's Sporting Goods. Yeah, well Dick's I mean Very well wrong company, but they had a computational error that overstated their EBITDA by 23 million dollars It's interesting. Hey today finally looks like the light at the end of the tunnel. They're talking about the SEC That wrap a potential wrap-up. I don't think they should have said that you never know when things are gonna wrap up And the SEC doesn't like that But I wonder if the SEC is not going to come in and say okay Listen, we need to know Dick's how this happened and that this presents a cloud over the stock of Dick's for some time By the way, Dick sells Under Armour one of the callouts in the Coles call that I like was that under armor selling quite well There as is Nike Coles needs more grants. I do believe that they're given is the safest of the ones we're talking about Okay, Jim. I want to remind everyone that if you want to meet Jim Kramer May 23rd is the day Jim you're holding big selfie Facebook Instagram snap event one of the things that we do I mean I hosted sank in a mile last week, you know, we have a hundred and twenty two kilos We have 40 mescals and we have me talking about stocks. I Just really encourage you to come there is a fee obviously and then you get to join the club And I think it's a very very interesting way to spend some time together in a personal way And I really like that and everyone who knows me knows that it's fun The bar is a blast my wife designed it. I hope she'll come by and I can't wait for the event That's May 23rd bar Stan Miguel go to the street.com for more details Jim Kramer. Thank you so much All right, and for more of the stocks Jim mentioned, please head back to the street.com