There's a lot of doom and gloom crossing our screens these days, Jim Cramer told his Mad Money viewers Tuesday. But when it comes to your portfolio, it's important to remember that stocks have been falling since November, and that makes us a lot closer to the bottom than to the top.
The world hasn't seen a crisis like the one we're seeing in Ukraine for a long time, which makes it nearly impossible to trade on the headlines. No one knows what sanctions will do to earnings or how individual companies might be affected. But negativity and lower stock prices aren't the only outcome.
Over on Action Alerts PLUS, co-portfolio managers Chris Versace and Bob Lang say the longer oil prices remain at elevated levels, the more likely we're bound to see interest in EVs climb, even ahead of the expected EV charging station build-out. Get in on the conversation and find out what they're telling their invest club members on Action Alerts PLUS.
Federal Reserve chair Jay Powell is set to speak over the next two days and there is some hope. Powell could tell the market what it needs to hear -- that the first rate hike will be coming soon, after which the Fed will pause to "wait and see." If that happens, then oil prices will be in charge.
Rising oil prices are a tax on the entire market, so as oil heads higher, demand will slowly be eroded. That, in turn, will fix our supply chain crisis and ultimately lead to a boom in housing and autos and reignite the stock market.
Given that stocks are already down big from November and given that things can only get better from here, there might be a glimmer of hope on the horizon. We just don't know who it will get here.
Executive Decision: Domino's Pizza
In his first "Executive Decision" segment, Cramer spoke with Rich Allison, outgoing CEO of Domino's Pizza (DPZ), which reported weaker-than-expected revenues this quarter as it struggled with inflation. Shares of Dominos are down 23% for the year.
When asked about his departure, Allison said the time was right for him and his wife to pursue other priorities. He said Domino's is in a great place and he has every confidence in the team and incoming CEO Russell Weiner.
Weiner has been with Domino's since 2008 and knows the business inside and out, Allison said. He currently serves as COO and knows the product, knows advertising and is a great leader that the team enjoys working with.
Turning to inflation, Allison said Domino's is seeing inflation in many places, and its' working hard to mitigate them wherever possible.
Finally, Allison commented on the crisis in Ukraine. He said he's been talking to team members every day and was humbled to hear that some stores opened today to feed people in need. "Pizza brings people together," he said.
Executive Decision: Salesforce.com
For his second "Executive Decision" segment, Cramer also spoke with Marc Benioff, co-founder and co-CEO of Salesforce.com (CRM), the cloud software provider that's down 30% from its November highs. Shares of Salesforce were up 4% Tuesday on the heels of strong earnings.
Benioff said it was an extraordinary quarter for Salesforce and they're now forecasting $32.1 billion in revenues for their fiscal 2023, which began Tuesday. Salesforce is getting back to business, he said, and employees can return to the office or continue working from home if they so choose.
Benioff was bullish on Salesforce's recent partnership with Ford Motor (F), saying that together, the pair are turning F-Series pickups into mobile offices that offer whole new ways to engage with customers.
Benioff also said there's no finish line when it comes to making great acquisitions. All of his company's recent deals, like Tableau and Slack, have been fully integrated into the Salesforce platform and are providing customers with everything they need to run their businesses.
Executive Decision: Coterra Energy
For his final "Executive Decision" segment, Cramer checked in Tom Jordan, president and CEO of Coterra Energy (CTRA), which reported its first quarter as a public company last week. Shares rallied 4.4% Tuesday after the company announced its variable dividend and a stock buyback program.
Jordan explained that Coterra has the "perfect mix" of oil and gas assets and his company doesn't have to choose between growth and returns for shareholders. Coterra can respond to any challenge he said, and it's clear that the world needs a lot more natural gas going forward.
When asked about Tuesday's announcements, Jordan said the company believes in its future and it has free cash, so buying back shares was the natural thing to do. Shares of Coterra are up 28% so far this year.
Can Oil Giants Pivot?
In his "No Huddle Offense" segment, Cramer pondered whether oil companies are really getting serious about the environment. It's easy to be skeptical, he said, but some companies, like Chevron (CVX), are indeed trying to pivot to clean energy.
Chevron has committed to net zero by 2050, but that may be a tall order unless behavior toward fossil fuels begins to change. The crisis in Ukraine has only emphasized the need for more oil and gas, at least in the short term. We can't bring prices down for more than a few days without more drilling, he said, and then we need a serious plan to make a change.
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