 Good morning. It's Wednesday, June 7th. We are breaking down today's market action with Jim Kramer on the floor of the New York Stock Exchange and Jim Let's start with your stock picks for the Comey hearing as you outline in real money. Okay. Now look a lot of people are saying Jim Are you facetious with these 15 stocks? In many a time in my career in a bull market, there are stocks that people gravitate to and they use them as as The go-to names in declines and I am not being facetious There have been a series of companies that people gravitated to and it's not fang and I know a lot of people talk about fang I'm glad I created the name fang and I had one before that candies that were quite good But this is not an acronym. It's not something fancy. It just happens to be 15 go-to names I urge people to go look at it. RealMoney.com everyone can check it out All right, Jim Moore doom and gloom from the Macy's shareholder meeting. Now, that's a tough one And I went over the very closely. I went over the their deck and what they said and I think it wasn't as bad as people are making. I know Doug Cass is making a case for it. I have no catalyst I do think that Kohl's is cheaper Kohl's went down with Macy's but People are worried about the gross margins, which means that there's too much inventory We have very good on quite probably so I'll see you on on this today if you want to check that out See, here's the real issue with Macy's. It's an issue of relevance. It's not necessarily that it's At this very moment as the cash flow clearly does But if you look at the degradation of Macy's over the course of the last three years You'll see what is truly to many people a frightening decline And they don't know how it's going to be reversed versus a Walmart and a Costco Which are a much more the correct pricing for Americans and obviously this is being Amazon a power very hard Category look at how fabulous of Mickey Drexler is and what happened to Jake Cruz So Macy's is part of the zeitgeist of what's wrong at the mall I know that there's a Nate not read conference That's the National Association of Real Estate Investment Trust and a lot of these people including Kim Kohler saying listen There's not a lot of pressure on rents Again, we're talking about forward pressure talking about the market being prescient and Again, I didn't think that Macy's was something I was surprised The virulence of the decline given the fact that there was one page that was bad and the rest of the deck was good And I didn't know anyone who thought the gross margins were going to go higher here But I think there's still a lot of hot bad money in Macy's and it's being washed out now All right, and then what was your reaction to the Tesla shareholder meeting look? This man is a technology Visionary, okay, and my friend Jay Leno talked about how their cars Are a wonder That they're the only car company that's been able to come back You know to come up since GM Ford and Chrysler and and what I would emphasize to people is that if you view it as a Technology company, it's going to go higher If you view it as a short you're going to get run over They have enough as the stock goes higher They can keep issuing equity to make it so they can pay even for solar the that that solar city acquisition So I know the purists out there hate hate hate the financials But the people who like the car like my friend Jim Stewart said I want to own the stock All right, and then let's move on to two downgrades this morning BMO downgrading Pepsi and Coca Cola Yeah Now look Coca Cola's got a new CEO coming in Quincy, and I think that Muhtar Ken gave him a very good hand They've been they've re-franchised. They're gonna be a very lean company with a lot of cash buyback stock forever boosted Definitely one PepsiCo look I mean it's been the best performer other than Clorox and the consumer package good business So it's natural for someone we want to ring the register my problem with that is there's nothing better than PepsiCo So as I will probably tell we have a round table next week for axlers plus It's very difficult for me to want to sell I sold some PepsiCo for the trust Not that long ago Scott Berman. I was just talking about what you know what we're being greedy But to run from a high-quality company Just because you think it's going up too much when you take a longer-term view like I have for the trust That's just not cricket. I can't do it. I also wanted to get your take on the surge in advanced micro devices No advanced micro Erchansa who is by far the best tech writer in America. I'm not kidding and he writes for the street Had a really fabulous piece about takeaways with the Apple worldwide developers conference And his last takeaway was how AMD has gained a lot of market share in the more prosaic Apple products And that's a very big deal of once again They had an analyst meeting the company came in with a full head of steam They have great gaming chips to internet of things and the analyst meeting ratcheted down expectations and a lot of people chose There was a lot of hot money in AMD and when you see that hot money and they don't they read the headlines and they see what it is Basically a a cautionary comment from the CEO. They run I looked at it as another chance to buy and went out very hard on that and I continue to think that AMD Which does have a problem. They have a shareholder that's in there that could I'd say they could weigh on the stock eventually But that AMD has a great business model a fabulous CEO and the right chips for the right time and Jim you mentioned gaming We know how bullish you are on e-sports. That's why you talked about interactive or excuse me take two interactive No, like, you know, Strauss Selnick has to deal with the NBA to have kind of like NBA e-sport teams I also has red dead redemption coming up next year. It's gonna be a gigantic game Great grand theft auto NBA 2k is so incredible But the note from Morgan Stanley was about EA and about Activision Blizzard and I have never fought anyone from buying this I like all three. It's just that I thought to take two was the most Undervalued of three now take two's had a very big movie in part because of the e-sports deal He made with Adam Silver, but they're all good And what I do is when one goes down because of the great secular trend of which I still think we're in relative infancy Because of the data digital downloads, I tell people to buy them It is a sainted group not unlike the humanization of pets group These are two themes that I have combed back to over and over and over again. We've been talking about that for a while Yes, I have and then on stop trading on squawk in the street. You talked about brown foreman Yeah Well, you know like brown foreman has a tendency they have a Tennessee honey, which is up for they have this fire Which is their kind of fireball answer. Remember a lot of kids were mixing. I say kids I hate that Jack Daniels and fireball. This is their Up 14 percent. I find this to be unfortunately a gateway drink for younger people and I've been adamant I am I do a lot of I did a lot of work in my time with dare and I feel like that I do not want to encourage underage drinking. I think it's a terrible thing I sometimes feel that the drinking age has almost made it so that there's underage drinking because the 1819 Once they turn 21, they don't want to drink it They don't want to like play the game because they're like, I I've been drinking for a while But that drink is very hot And I knew it would be that underlying numbers of brown foreman were better than they look the stock is up on a takeover talk So let it come in but brown foreman. This was a very good quarter. I still like constellation brands more I still like a Molson more just because the consolidation Constantly branch has the has the really good earnings momentum I continue from my and you know when I got involved with constellation in part because of the Justice Department getting giving them Medello and Corona, but then I doubled down one of because of bar see Miguel when I worked the tap or behind at the bar I am shocked at Pacifico sales at Medello sales and Corona sales And these are the great growth beers and they bought Casa noble Which is the great growth to kill it my bar and they brought a high west Which is the great growth high-end Whiskey and that is a brilliant acquisition and they have the best wines prisoner wine Opus one they're doing so much. That's right Rob sands is the liquor executive of our time All right and Jim will end as we always do with earnings to watch. We've got jam smucker. Yeah, look smucker I think is they've had a couple of bad quarters They're they had a pet they had a pet food war There have been a lot of center isle problems. I wish they did more with Santa Cruz. I would buy it after I know that I did the same with Thor. I mean, you know, it's interesting. I did Thor I said you got to wait to see and I'm tempted to say with smucker by half ahead and by half after but Unlike Thor the secular trends in food are not that great. I'm working on something about Undervaluation of tech versus overvaluation of some of these stocks for my My round table next week for action alerts. So I'm gonna be on that and you are on a round table today With some fabulous people and I look forward to that You should tell our viewers about who you're talking to because they are unbelievable. Yes, we have Steven Sarge Gil foil we have Douglas my life start every morning Mark Yep, it's fantastic. We have Douglas Borthwick Peter Chur and we have David. Yo, William Yeah, now David. Yo Williams is very funny the last time I really pushed him on gold and he wanted to do silver he's remarkable and You know, I think that Chur fixed income and in currency sports I mean these are the experts and I look forward to watching a round table. I I know that I have gotten a lot of good ideas out of it and solve a lot of other people. So good luck today Thank you so much. We're gonna be talking about how to recession proof your portfolio. So that's like that I like that very much. That's at 11 a.m. He's in there. I mean you'll talk bonds I mean since we've been doing the round tables the tenure has just gone down down down in yield So that's very very pertinent and I look forward to some conversation about the euro ahead of the ECB's Meeting tomorrow, absolutely. We'll be watching that as well Jim Kramer. Thank you so much All right for more information on the stocks Jim mentioned, please head back to the street com