Megacap Tech Turns Up, Major Cable Deal, Novo Nordisk CEO Steps Down 5/16/25

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Jim Cramer (1:02)

It's Jim Cramer here. You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action.

Carl Quintanilla (1:10)

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Bulls trying to nudge the S&P ever closer to 6K as these yields come in after Thursday's spike. Got our first big M&A deal since April 2 and all those 13 F's to play with. A roadmap begins with stocks trying to build on this recent run. S&P's coming off four straight days of gains. Tech's on pace for the best week in over a month.

David Faber (1:34)

Keeping an eye on shares of Novo Nordisk. They're dropping this after CEO stepping down in the face of what is of course a very competitive obesity drug market, namely with Eli Lilly. And cable mega deal this morning. Yeah, catch your attention, right? Jim Charter is going to acquire privately held Cox Communications. It's only been around 126 years as a company, creating one of the largest cable companies in the US. And of course, it is one of the biggest deals we've seen as well so far this year.

Carl Quintanilla (2:03)

Let's get to the market this morning. S&P is aiming for five straight positive sessions. Tech is leading the way this week. Nvidia and Tesla up double digits since Monday. Jim XLK up 30% since April 8th.

Jim Cramer (2:15)

Well, look, I think that there was this major decision that the president made, which is that without saying point blank, he's repealing the rules that Biden, the midnight rules that Biden set up about the 18 friendly countries that can get Nvidia, which by the way, they already had it, you know, for a lot of these, so it was actually just one of the most quizzical things, and now the president goes and he's become one of the great salespeople ever for Nvidia, but also for Boeing and the David, you know, that the tenor of things has changed dramatically. And the tenor is, rather than worry about putting embargo on China, surround China with goodwill to countries that might otherwise been in China's or it's Kissinger like.

David Faber (3:02)

Really?

Jim Cramer (3:03)

Yes.

David Faber (3:04)

We're now in Kissinger territory.

Jim Cramer (3:06)

Yeah, we're in Kissinger.

David Faber (3:07)

Okay.

Carl Quintanilla (3:08)

Kissinger actually went to China.

Jim Cramer (3:10)

Well, okay. I mean, that was true. Nixon there, too.

David Faber (3:14)

Yeah. You want to come up with another analogy? You want to try something different?

Jim Cramer (3:18)

Well, no, because, remember, Kissinger opened China, and Navarro wanted to close China.

David Faber (3:24)

Okay.

Jim Cramer (3:24)

So then, Besten, the Treasury Secretary, is a little more Kissinger like. There's nothing wrong with that.

David Faber (3:30)

All of which means what for the stock market there, my friend?

Jim Cramer (3:33)

It means that let a thousand Nvidia chips bloom. No, it means that we're in a situation where, instead of thinking, okay, we're going to be in a declining situation, big, we are now in a contained decline. Possible contained decline.

Carl Quintanilla (3:51)

A contained, self-imposed decline.

Jim Cramer (3:54)

Exactly right.

David Faber (3:55)

Where we have tariffs of 13%, let's call it, across the board, something like that. 10, I mean, the effective tariff rate of the United States.