"Magnificent" Earnings Week, Sports Betting: Gronk on FanDuel, Flutter and the NFL 01/29/24

Carl Quintanilla (0:00)

Market Moving Insight and Analysis join Jim Cramer, David Faber and me, Carl Quintanilla, on the opening bell hour of CNBC Squawk on the Street.

Good Monday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer at Post 9 of the New York Stock Exchange. David Faber as the morning off. Futures mixed for now, but what a week we have in store between MegaCap Tech earnings, Fed decision, jobs number, all as we watch some ongoing geopolitical tensions. Our roadmap begins with records on a roll. Big Tech fueling the rally. Apple, Microsoft, Alphabet, Amazon, AMD, all on tap this week.

China's real estate concern, the world's most indebted property developer, Evergrande, ordered to liquidate, and FanDuel's owner, Flutter, set for an NYSE debut. Four-time Super Bowl champion, Rob Gronkowski, will join us right here at Post 9 after what a weekend of football, Jim.

Jim Cramer (0:48)

Yeah, I mean, look, we're not ESPN, but I think that these games are like what we do. I mean, you see these teams and they are companies, and you see the Kansas City Chiefs. Look, they're, we never want to call them, you can call them Alpha, but you can call them Amazon. And then you see companies that fold in the second half, and that's, you know, maybe the Lions are Tesla.

You know, I mean, where Goff, you know, I was waiting for something to happen, except for their forecast, which was to expect the second half that's not that strong. Yeah, but these teams are all great, and they are, I find that this is kind of a universal.

Carl Quintanilla (1:26)

Well, the overlap is obvious, Gronk here, you're on Sunday Night Football. There's so much that they have in common. And congrats, Jim, by the way, for calling another perfect weekend.

Jim Cramer (1:37)

Yeah, I got that right. You had to, you know, admittedly, I do have been against this spread. I wish all the people on TV did, because we're all watching FanDuel, we're watching, you know, we're watching DraftKings. So what good does it do to say, well, look, I think that I will take the Niners.

That's bad, because what you do is you take Detroit versus the spread. The spread is just the multiple. It's price turning multiple. If we want to do a, take Pepsi right now, Coca-Cola's got a higher multiple. You know, that's the Niners.

So I just think that if you don't talk about the spread, then you are not doing what 20 million people are doing.

Carl Quintanilla (2:11)

Yeah, it's going to be an active hour here on the floor as they ring the bell. Let's begin though with the markets. And as we said, big week on the earnings front, Jim. In terms of market cap.

Jim Cramer (2:20)

Oh, this is it.

Carl Quintanilla (2:20)

And earnings, this is the week.

Jim Cramer (2:23)

Yeah, I mean, and I think that we've got so much going on. We've got the, by the way, the refunding schedule on Wednesday from Josh Frost at Treasury. And then the employment number is going to either verify or not verify the wisdom of the Fed.

But there are days where, I mean, Apple and Metta, I mean, no, we don't want the others to be moaning us on Friday. There's so many good companies that they will not get the attention that they think they will.

You just, it takes an hour to do an Apple call, an hour to do a Metta call, and an hour to do an Amazon call. These are not easy. These are not calls like Texas Instruments, which just says, you asked two questions, I said one question.

Carl Quintanilla (3:02)

Yeah, I mean, your longstanding thesis has been that the street's under covered. There's just too many companies to keep track of. But to your point about the broader market, equal weight has now given back all the gains it had relative to the SPX since November.

Jim Cramer (3:15)

All the people, look, we have three notes today that say soft landing. And I understand that, but what really matters is that we reverted to pre-November pivot.

It's just the same guys again. It's the same thing that happened in March when we had the banking crisis. I think a lot of people come on our air and they don't want to admit it. They always say, what's gonna pull it out or it's really pulling out, it hasn't pulled out.

It's back to the significant six, whatever you want to call them.

And I find that what's happened is, is that if you're not in those stocks, then you missed it again. And you're trying to justify, there's really a raise on debt. I mean, there's like actual essence here of you either went with the big guys, or you continued to believe the thesis that there are a lot of Eli Lilly's out there. Lilly turned out to be the only one that's out there. So I think we should own it. I think we should attack the people who come on, the money managers and say it's a broad rally, because it's the opposite. I mean, attack is probably the wrong way. You know, I say that the reviews misguided.