It's been a wild ride on Wall Street and it's not over, Jim Cramer told his Mad Money viewers Monday, but the stock market is almost in oversold territory and there's not much more China can do about it.
Cramer admitted that China's tariff retaliation had investors fleeing for the exits, but in reality, most companies won't see lower earnings as a result of these developments. Why? Because America doesn't sell a lot of goods into China -- because China won't let us. That's why our $200 billion in tariffs was met with only $60 billion on items like carrots, broccoli, almonds, pears and pasta. China also tried to go after liquefied natural gas, but Cramer noted that with so much demand, most of our gas supply is sold out for over 10 years.
In addition to tariffs, the Chinese could also sell nearly $1 trillion in U.S. Treasuries. But Cramer said that scenario would actually be doing the U.S. a favor in the current economic climate.
So with so few trade war tactics remaining, does that mean it's time to buy stocks? Cramer said tomorrow will be day three of the selloff and that's typically when money managers begin buying, and that's where he would be buying as well.
Cramer and the AAP team say there's no question this selloff really hurts. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.
Uber's Bad Timing
Who's to blame for the failed Uber (UBER) IPO last week, and the stock's 10.7% decline today? Cramer placed blame squarely on Uber itself.
Cramer said when it comes to IPOs, timing is everything. In Uber's case, the company simply waited too long to come public. Uber's growth is already beginning to decelerate and that limits its appeal to money managers and institutional investors. The Uber IPO also unfortunately picked Friday to come public, in the middle of the trade war.
Some of the blame also goes to Morgan Stanley (MS - Get Report) , which continued to push the $45-a-share IPO despite waning demand for that level. Cramer said the Uber deal could have worked, had Morgan Stanley pushed for a lower initial share price.
Failed IPOs like Uber and rival Lyft (LYFT) follow in the footsteps of other high-profile failures, like Facebook (FB - Get Report) . These deals tarnish the entire market, Cramer concluded, and keep individual investors away.
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Executive Decision: Williams-Sonoma
Alber explained the she anticipated the increased tariffs over a year ago and immediately began taking steps to mitigate the problem. The company began moving manufacturing out of China and into Vietnam and Indonesia, and renegotiated contracts with the remaining Chinese suppliers.
Williams-Sonoma learned years ago that any labor savings would quickly get eaten up by increased labor costs. That's why the company now makes its furniture in multiple locations inside the U.S. Alber added that they are currently hiring 500 additional workers at their U.S. locations. She said having domestic locations was not only a smart financial decision, it also allows them to make custom products even faster.
When asked about their expansion into business accounts, Alber noted that many businesses, from offices to arenas to hotels, are all looking for alternatives to the status quo and that's what Williams-Sonoma's brands can offer.
Executive Decision: Twitter
In his second "Executive Decision" segment, Cramer also sat down with Ned Siegel, CFO of Twitter (TWTR - Get Report) , the social media giant that saw its shares fall 4.8% today despite having no Chinese exposure.
Siegel explained that digital advertising is growing at 20% a year and now advertisers are expecting to see metrics on the efforts. Whether you're launching a product, debuting a TV series or just connecting with your customers, there's no better place than Twitter.
Twitter remains committed to providing coverage and conversations for important elections around the globe. Siegel said Twitter provides both trust and transparency.
Finally, when asked about his company's efforts to clean up abuse, Siegel said nearly 38% of all abuse is now flagged via machine learning, up from 0% just a few years ago. They continue to make great strides in this effort.
Executive Decision: Workday
In his final "Executive Decision" segment, Cramer sat down with Aneel Bhusri, co-founder and CEO at Workday (WDAY - Get Report) , the human resource software provider with shares that fell 4.6% by the close. Shares of Workday are still up 27.4% for the year.
Bhusri noted that Workday has no exposure to China or the trade war and he's not expecting to feel any impact. Overall, he said businesses continue to migrate to the cloud faster than expected and new companies, like Workday, have proven to have the best solutions.
Workday is also active in the higher education sector, a market Bhusri called underserved but very receptive to new technologies.
Finally, when asked about his goal to hit $10 billion in revenue, Bhusri noted that he thinks the company can get there organically, but he's not opposed to one or two additional acquisitions to help accelerate that process.
In the Lightning Round, Cramer was bullish on Okta (OKTA - Get Report) , Becton Dickinson (BDX - Get Report) , 21st Century Fox (FOXA) , Walt Disney (DIS - Get Report) , Parsons (PSN) and CyberArk Software (CYBR - Get Report) .
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