 All right, it's Monday morning. We're on the floor of the New York Stock Exchange with Jim Cramer, the big story, GE CEO, Jeff Immelt stepping down. Jim, what was your reaction? Well, look, I think that there was a lot of pressure on the board that it was time. I know that GE is saying, listen, for 2013 they had always prepared a succession, but the underperformance and the last straw really was that last meeting where he just said, listen, the $2 number, that's the high end. There was a belief, let's say among try-in, try-in at a big position, that this wasn't going to happen, that the big cuts were going to occur and that the $2 number was going to be out there. But the two things that I think doomed Jeff. The first one was the negative cash flow in the first quarter, which was just kind of out of the blue. And the second one was there was great conviviality with try-in. Now try-in is not big enough to be able to move the needle for GE, but there was great conviviality in a meeting that I went to with Nelson Peltz and Jeff Fimwell. And I've been with them together. And there was a kind of a big letdown that it looked like the numbers were coming through, and then the numbers slipped everywhere. But you have to ask yourself, would Jeff have left before the consummation and then the, let's say, next year or two with Baker Hughes? Because that combination is so, so important. So I'd say there was a lot of pressure. And the board felt it had to act because the stock has been the worst performer in the doubt during the period that Jeff's been in there. And that does matter. And I know the company is very adamant that the dividend is safe. I think there are people like the Deutsche Bank analysts who are saying that it's not the case. I'm looking for upgrades. I'm looking for people to cut numbers, perhaps to a buck in a maybe well short of two bucks, but say that Flannery is not going to let you down here. My friends who know Flannery are adamant that he's a Jack guy. He's a Jack Welch guy. And that means firing people. That means taking costs out. That means reshuffling the portfolio. It does not mean breaking the company up. And GE is an Action Alert plus name. It's an Action Alert plus name. And we talked last week about how we wanted to sell it. But we feared that there would be a move within the next few weeks to change the CEO. We were prescient. I've done a lot of work behind the scenes that I know that there were people who were really saying Jeff stayed too long, 16 years. I think from the press conference, it did seem like Jeff felt it was time to move on. But I looked for the Baker use deal. I did not cut and run when oil went down. I think that's important. I think the Baker use deal that they're doing consummates at the end of the month, you're going to see some acquisitions done by that. Remember, rate count is going up. GE has both offshore and onshore. Onshore is very good right now. We own slumberjave for Action Alerts and they're more offshore and they have not done as well as Baker use. Remember, Baker use was going to merge with Halbert and that fell apart. So Baker is merging with GE. It will be very interesting to see what Bornstein, who's vice chairman now did not get the top job. I know Tryon really liked him when I speak with Tryon. Tryon would not talk today. But when I've spoken to Tryon, if you remember, we had Ed Garden last week at our corporate governance Ed Garden is key man and Tryon with Nelson Peltz. I know that when I asked him about GE, it was like, whoa, you know, kind of not happy. So that's a lot of my insight comes from the fact that we did have Ed at the corporate governance conference, which was really a fabulous conference. And I know that you cringed when people cringed when I mentioned ML at the conference, because Ed was just total no comment. And then, you know, obviously no comment made it real unhappy. All right, Jim, let's move on to tech stocks. What do you make of the sell off? OK, now I have a piece of real money about the game plans. You want to kill an Amazon? I think Amazon I'm not going to sit with Amazon is going to hold or not. I don't want to do that. I'm going to say if you see it whole, this is very different. One of the things I've learned in sell offs is that you have to let the buyers and sellers tell you what to do. If Amazon holds an auto desk holds, those were two that had great quarters. I know people don't normally focus on Autodesk, ADSK, that had a fantastic quarter. If they hold, then you're going to see buyers come in. Lamb Research had a great quarter. If that holds, you're going to see buyers come in. So you want to kill those. You don't want to kill on Facebook or Apple. Apple had that key downgrade last night. You don't want to kill Netflix because that stock has run a great deal. You don't want to kill on Alphabet, Google, because there's no new news. But you do want a key on Amazon because that has been that was up, you know, north of the thousands come down very hard to below 9500, you know, to below 950, and that is the one where there's it's a very big decline and there's been no negatives associated with it. So that is your key, Autodesk Second, Lamb Research Third. You mentioned Apple. What did you make of the downgrade by Mizuho? You know, I think it was what I call statement downgrade. It put Mizuho on on the map. Now, that analyst, I'll be interviewing that analyst on Scott Watner's Halftime Report, the thing that was most damaging that I was most concerned about was something that I'm not getting when I do my work, which is that there is a problems with the service revenue. Now, the service revenue has been very key for me. The analyst is thinking that the numbers are too high for service revenue. The analyst doesn't deny that the Apple iPhone 8 is a big cycle. This is a multiple compression story. They're basically saying you're not people are not going to continue to pay up for the earnings that you're getting there. I think that's an interesting call because remember, if it's a consumer product story, the way I think, then I think you're going to see this dot go higher because Procter and Gamble, let's say Procter, Procter trades about 18, 19 times earnings. By the way, here's a heads up. I think Tryon is going to go very aggressively after Procter and Gamble. I think they're happy enough with GE. Procter and Gamble is the next. You should buy Procter, OK? Let's give me a heads up that Procter and Gamble, you should watch that versus Apple. You should watch Clorox versus Apple. You should watch Colgate versus Apple. You should watch Newell Brands, which we own for Action Alerts versus Apple, because this is a consumer product story. Now, I've been saying that for two years. It was great that Warren Buffett adopted and obviously didn't watch me. He was only watching me once when I interviewed John Stump and he didn't like it. That's the former CEO of Wells. But if it's a consumer product story, it should trade higher. The multiples too low. And that's what I'm going to discuss when I discuss with the analysts on Scott Watt, there's a halftime show. How about the way you view the stock? If you view it as a consumer product story, you don't sell it. You buy it. People should look up your interview with Tim Cook because you talk a lot about that as well. And Tim, look, I play with an open hand. I come in with a two-prong story, consumer product and service revenue. The consumer product story is not accentuated nearly enough in the Mizzouho piece as far as I'm concerned. And just as important, the revenue numbers coming from service are basically saying, be careful, they're not going to be there. That's what I'm watching. I need to see. I want to drill down on that. We look forward to your appearance on with Scott Wapner today. But you were also on on Friday talking about NVIDIA with Andrew Left. Yeah. Now, you know, Andrew, I had some back and forth with him about some things he said about CNBC. I feel better about it because I think some of that might have been out of context, but, you know, you take things personally in this business. You play hard and he's been also we've had a lot written about him in real money. I didn't disagree with him. The notion was that he's liked NVIDIA very much and said over and over again that people should own NVIDIA, that NVIDIA was too cheap versus a lot of the stocks that people were buying. And then NVIDIA goes from 100 to 150 very fast. And what he's really basically basically doing is giving NVIDIA stock a speed and speeding ticket saying, listen, this is not what it should be. And you've got the wrong kind of owners, which is what the casino mentioned. I can't disagree with that as much as I like NVIDIA. A lot of people I have an Action Alert Wednesday call and a lot of people said, you know, Jim, you like NVIDIA so much, why aren't you in NVIDIA? And I always come back and say, wait a second, we're in Adobe, we're in Facebook, we're in Western Digital, we're in Alphabet, we're in Apple, you can't own them all or you would have been slaughtered Friday. And that's what we've been trying to avoid. Adobe, by the way, down very big on a downgrade that's totally based on valuation. I don't like historic valuation calls. Why? Because a lot of these companies, businesses have accelerated. If you go back to my interview with Daniel Bushry, who is the CEO of Workday, he is telling you that cloud adoption has gotten far faster, faster. There had been a big cloud adoption in finance and obviously in tech. He's saying now health care and retail, which are very big sectors, are moving aggressively on the cloud. So what that tells me is be careful downgrading Adobe if the story is morphing into a more longer term view because they are how you do a commercial cloud marketing. And I like them, by the way, I think that Salesforce has come down enough. And I would initiate a position in Salesforce. Now, when I say that, Twitter, people say that people come in and say, I bought all the Salesforce at this level and now you crushed me. So I say if you do that, you might as well be shorting Salesforce. I am not talking about you. I'm saying if you want to buy 200 shares of Salesforce, you buy 50 here. OK, there are also reports that Western Digital may be making a better offer for Toshiba slash business. Western Digital is down. Now, why would it be down two reasons? One is that if they get it, people feel that they have to do an equity offering. The articles kind of indicate that they can do a debt deal and maybe have some other buyers with them. They do have a Japanese buyer with them. I've been waiting for Western Digital to actually make a real offer. This is a lot of people saying, well, they have made an offer yet. This is a real offer. Western Digital has basically said they can hold up anything. I don't know if that's true, but Toshiba desperately needs some money. If you go over, there's a David Faber and I were talking about Broadcom last week. Broadcom on its conference call, Haktan, twice said, listen, I won't do anything unless it's got connectivity involved with it. You could stretch the definition of Toshiba's flash to say that he meant connectivity. I've had trouble with that. I'm not sure about arrival bid. What I do know is that the Western Digital bid will be well received by everybody and that you could buy Western Digital here, which we get owned for action alerts. We did sell Summit 91 and I think that you might have to have a second bite at the Apple if they do an equity offering to help finance it, they need to because they spent so much money on Sandisk. But I like Western Digital here on a possible Toshiba flash buyout. Are also Morgan Stanley analysts are raising their bear case on Tesla? Yeah, I mean, that is if you're a bear and Brian says he has a terrific little piece about Tesla and how you got to be careful. You always have to be careful of Tesla if you think it's a car company. You don't have to be careful of Tesla if it's a technology company because technology companies obviously can you can put a different multiple on a technology company and you can say that the technology is really good. What was frightening for any bear in that Morgan Stanley piece was that they're talking about the possibility of profitability for Tesla. Now, no bear would ever think that there could be anything but phony profitability. Here you're talking about positive cash flow. If there is positive cash flow. And again, I am not saying it is. But if the Morgan Stanley bull case about positive cash flow comes true, then the Morgan Stanley price target north of 500, I believe, can come true. Now that now that will be interpreted as saying Jim Cramer thinks it can go to 500. I want to be very careful. I'm saying Morgan Stanley thinks that if the cash flow is positive. OK, also you talked about stop trading FedEx. Yeah, I've been doing a lot of work on FedEx. They report June 20. And I think that FedEx is a company that is very close to President Trump. I don't know if anyone even remembers last week because it was so comey. We were all comatose by the end of the week. But if you look at what the FedEx has to offer in terms of privatization of the air traffic control system and the privatization of airports, I don't think there's anyone who's better. You got a June 20th earnings report. I think it's going to be good. But I think that you're going to see the FedEx, both the CEO and Fred Smith, a very, very big Trump supporter, in to see the president. I know that people are kind of just saying whatever the president's thinking when he now is irrelevant. But remember privatization of the airport. He's always been very strong that the airports are no good in this country. Privatization of anything involved in the airports has to be public private. And FedEx would be a winner. Maybe they talk about it on the June 20th call. All right. And then one more name we're watching. It's not a public company, but Uber. There's a report that you don't try. People should read Adam Lashinsky's excellent book that came out a couple weeks ago about Travis and remembers his parents were in a very bad car accident. Eric Holder came in. He's a serious guy who was the head of the Justice Department. He did a lot of examination. Obviously, the company has been run in a way that I think most of us would be embarrassed by, except when it comes to the bottom line. No one is saying the bottom line is bad. So I would say that, yes, if it were public, you'd short it, but then you'd have to cover. OK, Jim, what are you expecting from the Federal Reserve meeting on Wednesday? OK, on the Federal Reserve meeting, I have been saying that they're going to raise rates. I don't know what they're going to do in terms of commentary, other than I think they'll be saying, look, we do believe that if the economy stays, if employment stays strong and I don't think they're going to say employment's weak, even though the last number was not that good, then we will certainly take into account the idea and raise it again, raise rates again. The banks have had three days of run. I don't trust them. We have we own key, we own Wells Fargo, we trim city a little, we put a little Wells last week, we're reshuffling because city has been the best performer, Wells has been the worst performer. So we thought we should do that for the chapel for action alerts. I'll talk about the rotation on Wednesday. I think we'll have further information about the rotation as we get closer and closer to the Fed meeting. Yes, that actual alerts plus call is on Wednesday at noon. Exactly, we're looking forward to that. Thank you. Jim Krimmer, thank you so much as always. And for more information on the stocks Jim mentioned, please head back to thestreet.com.