 Good morning. It's Tuesday. We are on the floor of the New York Stock Exchange with Jim Kramer to talk about the markets and the Dow It's up triple digits this morning. Jim, let's begin with Macy's hiring and executive from eBay. What'd you think? Yeah, well look, Macy's needs more technology, and I think that that was a terrific hire I think that Gannett walked back some of the more negatives in the conference call I don't think they're going to be as promotional for Christmas. They got a good loyalty program They need technology to do a good loyalty program. He said the dividend is safe We did a piece last night on Mad Money saying that this is an interesting level to buy Macy's And I think that just to kind of wrap things up Macy's is part of the overall rally today because remember retail has let us down Oil has let us down, but at bouncing a little bit here, but the industrials are coming back too This is a broad-based rally based on frankly not that much other than the fact that we're oversold And I think that's important. You have a catalyst like a Macy's that's better after retail being bad You have a catalyst that is interest rates ticking up just a tad that gets the banks going And in the interim, I mean, I think that if you look overseas We're getting some strength and the dollars weaker, which means the industrials are doing a little better So the market's been going down drifting down and this is a kind of a big change of pace right here The VIX has come down a lot fangs doing better some positive chatter You read Johnson or as always you got to start your day with Johnson saying some positive things about Apple I think that the comments about Facebook losing out to Instagram are always funny because obviously Instagram is owned by Facebook And the idea that snap is taking share. I have not believed that and I'm sticking by that So there's a lot of positive commentary and research which often happens After you've had so many down days. Well, what do you make of micron and lamb research up? That was your Micron is a company that sells at a ridiculously low multiple Obviously micron is the building block of a lot of technology Cisco most recently said they didn't see DRAM prices coming down There has been some weakening in NAND in flash And that's one of the reasons why we sold Western digital and microns two components are DRAMs in flash Lamb research makes all the equipment that you need for these and lamb had an amazing quarter Martin Anstis whoever since he bought novellas has just been on fire So I think that lamb and micron are the two you have to follow because if those two can break out Then I think what would happen is you start saying okay? Listen hardware is good if adobe looks like it's breaking out and Salesforce breaks out tonight on a When they when they report then you're gonna have both cloud and hardware and cloud and hardware Particularly data center, but also cell phone can drive a broad-based tech rally That's not just fact and you have mark Benny off on mad money tonight right now. I think that mark Look, do I think it's a big quarter? I think that there are many things going right for Salesforce And I think that mark hasn't been hurt from lately Let's see what he has to say, but I'm looking for some very big wins. I'm looking for some By the way, I this is not to take away from Oracle But I think that they're gonna say that they're doing better than Oracle Oracle said last time they're doing better than Salesforce here I'll tell you the truth. They're both doing incredibly well Oracle by the way is a very inexpensive stock here very inexpensive Speaking of mad money last night you had a fantastic interview with ADP CEO Carlos Rodriguez. Lots of tension with Bill Ackman Yeah, what happens to black man's ideas now? I think that you know this was one where a bill had a lot of good ideas and I asked Carlos it was a very tough interview because I said look he basically says you're concealing things and Carlos has had he sat down with me. He would have realized that I'm not I Said that where are you in terms of margins and Carlos was saying listen, you know, obviously you can get better. There were a lot of good thoughts in Ackman's presentation of which many of them are being acted on by ADP, which is positive I think overall it's always odd to have to question a CEO when he has doubled the performance the S&P I always find that you should question CEOs when they're far behind the S&P And that's a important distinction But I also felt that this notion of when Ackman took his vacation and leveraged versus the board Made me sympathetic to Rod Riga's even as I think that there were a lot of questions about in the Ackman The Ackman Brief should be read because there are questions about overhead. There's questions about a I'd say a very convoluted if not bloated Organizational chart that can be explained by Carlos But you have to walk through it and there are some what looks like now to be misstatements about sales productivity That I think would have been clarified had Ackman actually just sat down and shown the courtesy of sitting down With with a man who deserves that courtesy because he's a major Executive of a major company and that does give you enough Impromoter that you deserve the respect of an 8% shareholder And you gave a great wrap-up of this topic in your column in real money this morning That's up there right now real money calm All right, Jim Let's also talk about told brother said an earnings beat revenue was a little like you know I beat I look I think that this is the same if you go back every time it's always been earnings beat revenue a little like my take Is this it therefore? It's not the revenues are exactly what I was thinking you're least talking about how there is that we're still There's a lot left in the housing cycle you're gonna hear peak housing peak housing peak housing peak housing occurs when we take out Much higher levels that that that's what happened with orders We went to levels that were unsustainable. Can we at least go to unsustainable levels before we say peak? Jim for the last couple days we were talking about the incredible results from Estee Lauder But what happened with Cody pizza heck out of me? I mean the numbers were horrendous All right, Jim. Let's also move on to earnings to watch. We have a few on my list PVH. Yeah I think look a Manny Trico has been amazing and recognizing that the place to do business is Europe and the second place to business is China He is no more hostage to the department stores This is really important that Estee Lauder is and that's a really if you go back over Estee Lauder's conference call they have a mid-teens exposure to a US department stores of the department store Channel and Manny has been so smart about e-commerce He's been so when you speak to executives always I in that industry what I always here is like Geez that Manny really got it right. I think Manny's could continue to get it right I think back to school has been a little bit stronger for him, but Europe is gonna be great I think he's gonna rip the cover off the European ball. All right another earnings We're watching HP and anything you're expecting. I look I think HP is doing everything right now That ties in with what I said earlier about micron. They do have a raw cost is up, but they have some very hot devices Devices by the way that you can't get because they're so hot. I don't think people realize There's just a huge back order for some of their hottest products I hope they talk about that because it's really one of the few shortages that I see of anything in any Aspects of my life right now. All right Jim Kramer. We'll leave it there. Great analysis as always Thank you for more information on the stocks Jim mentioned. Please head back to the street calm You