Analysis: AAPL FIVE CVS CBS VIAB CMCSA AMZN DWDP

In today's Daily Rundown, Jim discusses Apple (AAPL) and its services initiative, Five Below (FIVE) ahead of earnings, CVS Health (CVS) , why we are raising cash today and not buying these declines just yet, why a CBS (CBS) - Viacom (VIAB) tie up makes sense, Comcast (CMCSA) , Amazon (AMZN) and AWS, DowDuPont (DWDP) , and more! 

Katherine Ross: Hey y'all. I'm Katherine Ross, with Action Alerts PLUS. I am here on the floor of the NYSE with Jim Cramer. Jim? Hey, how are you doing?

Jim Cramer: Doing well. Thanks.

Katherine Ross: Are you ready to dive into Apple?

Jim Cramer: Yeah, very much so.

Katherine Ross: More Apple?

Jim Cramer: You know? Look. I was working last night until 11 on the Apple/Qualcomm situation, and Qualcomm's rolling the dice here. I think. Apple could be ... There was a ruling that came down by an administrative law judge that knocked Apple's stock down four bucks, because it went for Qualcomm. The judge just could've referred the case to the actual commission. So, that was irrelevant, but Apple did win a big case against Qualcomm. It came out after the bell.

Jim Cramer: There is an FDC case that is ... many people are joined against Qualcomm, and then of course, there's the big April Federal Court; Tim Cook versus Steve Mollenkopf. Qualcomm's dividend's at stake if they lose this.

Katherine Ross: What do you think is going to happen there?

Jim Cramer: Now, Qualcomm wants to claim some national security 5G. Maybe they get it. Someone in Congress vote for that, but watch this. I mean, Apple. It's a big win for Apple coming up, I think. Now, Apple obviously, people are very anti-my view that a cheap credit card that's for your family that saves you a fortune with cash back that's as good as ... that doesn't have any fees, along with being able to amalgamate all my subscriptions over my whole family of six people is regarded as being, again, something that's stupid. All I can say is if you think it's stupid to save money, stop watching me. Cancel your subscription. I don't even want you.

Katherine Ross: That's what you're all about!

Jim Cramer: I don't want you watching me if you like to pay more money for something that I'm paying for.

Katherine Ross: So, I have a question for you, because there was a point last night, I was watching you respond to all these Twitter users, and I almost jumped in.

Jim Cramer: Well, I love that. I just responded to some clown today who's a total chowder head, who said you told people to get out of Apple?

Katherine Ross: Chowder head?

Jim Cramer: Yeah well, Mr. Chowder Head. I mean. I don't mean to cast dispersions. I like Apple. There are a lot of people who come in, and they know if I'm in a feisty mood, I'll spar with them. I don't mind that. Remember, the key is-

Katherine Ross: I think it's great.

Jim Cramer: ... a lot of sparkies go after me and a lot of, let's just says, chiefs, and when you get chiefed or you get sparked, you also get blocked after I ... I trash you, and then I block you, because I'm the man of ... I'm like Ten Bears in the movie Outlaw Josey Wales. My name is Ten Bears, and I come in peace.

Katherine Ross: This particular tweet was saying that people over 60 are the only people that like all these products. I got to say, I disagree.

Jim Cramer: People over 60-

Katherine Ross: My generation loves them.

Jim Cramer: Yeah. People over 60 often have Millennials as kids, and Millennials like my daughter who works in the mental health field, there was like people ... I just love this. People immediately said well, the problem is spoiling. The problem is, Eric? You listen to this? The problem is spoiling people. Jim's spoiling people. My daughter works in the mental health field. Her entire salary is eaten up by her health care bill, okay? I have to give her a hand. Does she ask for any money? No. But, when you have a $7000 health care bill and you're making like 23G's, you know what? I'm going to help her. All right? She ain't got no cable, because she can't afford it. Anybody who's saying, "Listen, Jim? You're spoiling your kids." I mean, do you have any ... you don't even know anything about me, so knock it off!

Jim Cramer: My kids are doing good. Doing what's good, okay? So, if I have to help them a little bit on their cable, you know, the Showtime, I'm going to do it. They don't ask for anything. My daughter asks for nothing. Nothing at all. But, you know, she's got these health care bill, because nobody writes insurance-

Katherine Ross: Which is insane.

Jim Cramer: ... in Oregon, because the ACA is a failure there. Nobody want's to write, because her zip code has too many pre-existing illnesses. I'm trying to help her out.

Katherine Ross: Yeah, and you're a good dad for it.

Jim Cramer: Well, I love my daughter, and these people are like, "Well, you're spoiling your daughter." With the Millennials, you don't want to give them too much money. I don't give any. I don't give any of my kids. People don't know me.

Katherine Ross: All right. Let's switch-

Jim Cramer: I lived in my car.

Katherine Ross: No, they really don't.

Jim Cramer: I'm trying to keep my kids a little disciplined. That's all right.

Katherine Ross: And, his goal is to save people money! All right, let's switch gears and look, and take a preview-

Jim Cramer: That's why the Apple thing was good. You know? It's a family plan. John Ledger's got a family plan/plans from T-Mobile. I like him, too. He's coming out.

Katherine Ross: Really?

Jim Cramer: Yeah. He's going to start talking. He blogged today. He's been silent. He's been radio silent.

Katherine Ross: I did notice that. I was going to ask you about that.

Jim Cramer: Yeah, John might be back. You know? John Ledger, like Maroon 5, Adam Levine.

Katherine Ross: Like, whoa. Okay. Okay let's-

Jim Cramer: Not.

Katherine Ross: Let's talk about-

Jim Cramer: The more I know. They weren't in the bundle. The Apple bundle.

Katherine Ross: I really did notice that.

Jim Cramer: I thought it was so funny David said, "None of the Millennial people ... that's because you didn't know that a lot of us guys were Millennial people." I hate that.

Katherine Ross: I see him on my Twitter all the time.

Jim Cramer: Yeah, absolutely.

Katherine Ross: All the time. Okay. So, Five Below. Let's do a preview of the earnings.

Jim Cramer: All right, five below-

Katherine Ross: What are you watching?

Jim Cramer: Well, what I'm watching is continual losses in CVS, which is really starting to get me upset. You know, you always have one that doesn't do well though. The whole notion of Action Alerts is, it's a club, and I need you to know that I'm not happy, but I had Larry Merlo on last week, CEO of CVS, he's doing its best.

Jim Cramer: Now, you take FIVE, F-I-V-E. That's been going down ever since Matthew Boss, who had been it's principal sponsor, pulled it at 135. We have sold stock, but we hold on to others, because it's a regional/national story. We will buy more if it goes down, because I think the formula works everywhere. That's why the secret behind Dollar Tree, you should by that when it's down. How great's that been? And, Dollar General? So, Five Below, is something you buy on the way down. Okay? You just buy it on the way down.

Jim Cramer: We're ready to do so. We've got room. We've got cash. We're raising cash, because of this onslaught of IPOs, which remember, what I'm worried about here, is that money goes to Index funds. Half the money that comes into the market goes to Index funds. That money will not be able to buy these, because they're not going to be added to the Index instantly, so you have a lot of money that is no longer going to be with active managers. You have active managers that have to hold on to Lyft, even if it goes to 80/85. If they sell it, then what will happen is it will be recorded, because it's the end of the month. The brokers will find out, and you won't get any Uber, so be aware that there's just not enough cash to go around, to handle all these IPOs, which is why we're raising cash.

Katherine Ross: I'm glad that you mentioned that. Why did you choose-

Jim Cramer: That's a loud tag.

Katherine Ross: ... to trim Palo Alto?

Jim Cramer: Palo Alto, we took a stock that we bought amazingly. We did a whole show about it, in one of our monthly calls. It's up huge. We want some cash to get up to say, 6.5%, so that when this deluge of IPOs comes in, remember it's artificial. It's not about the financials. It's about supply and demand. When the supply knocks down all stocks, we want to have a basket ready to so some buying, but you can't do that unless you have capital. That's why we're doing this. It's not anti-Palo Alto, it's pro-having money.

Katherine Ross: And, what about Amgen?

Jim Cramer: Amgen, we're setting up for if they lose the Enbrel case in New Jersey, the longer it goes on, the more worried I am, so we can buy that stock back as it gets hit. Remember, we like that because of the migraine drug and because we believe in Repatha, which is the cholesterol drug. The company is not very adept at telling its story, though.

Katherine Ross: You've spoken twice on Mad Money. Once last night, and once the night before that you like the CBS/Viacom merger. Do you still stand by that? Why?

Jim Cramer: Yeah. Jeff and Zeb, we go ... well okay. Because, CBS has no leader. We saw how close Viacom came to being kicked off of the bundle. They need heft. If they merge, you won't be able to kick off Viacom if they are the same company as the company that owns Tony Romo and the NFL. So, they merge, they get more heft. They're able to battle. They won't have to be worried about being taken off anymore. It's just a natural. It should never have been split up. It was a stupid thing. Viacom has been at many different iterations. This was the dumbest. Bob Bakish is a very able CEO. You put those two together. You save a ton of money. It's just ... there's no such thing as no brainers in stocks, because then the street, it'll embarrass you. This makes just too much sense. How about that?

Katherine Ross: Disney and Fox-

Jim Cramer: That's why Viacom should be continued to be bought here. Disney and Fox, I'm sorry?

Katherine Ross: Disney and Fox have sealed the deal now, I'm wondering, how does Comcast look to you?

Jim Cramer: Comcast, there's a piece research saying the number's going to go up. We're on Comcast because of the international. International is going to be amazing for them, because it's still under cable. U.S. is over cable. You know, you can't do any more deals. The Roberts Family has historically made you a lot of money. That stock is up very nicely from when they did the deal, and I think it has much more room to run. When we see how good International is going to be. Comcast is not expensive.

Katherine Ross: Now, I've got a member question here, from Mark G.

Jim Cramer: Mark G. Mark G. or Martin?

Katherine Ross: Mark G.

Jim Cramer: Mark G. Huh?

Katherine Ross: Mark G. is wondering, he likes AWS. He's a little worried, because he thinks AWS could potentially lose future government contracts, and if that happens, what happens?

Jim Cramer: Yeah, you know? There is a sense that they'll lose the big military, you know there's a big defense contract. AWS is growing at 47%. It's incredibly lucrative. Amazon is now up very big from when we bought it. We discussed it this morning. At what point do we do some trimming? Because we are in trim mode, but it's not because AWS. I interviewed Andy Jassy, I felt fabulous about that piece, the head of AWS, and I felt fabulous about that story.

Katherine Ross: All right, Jim. Do you have anything else that you're watching in the markets right now?

Jim Cramer: Well, you know, Dow added to the ... Dow. Okay? I just wanted to tell people that doesn't mean anything. When you're added to the S&P money has to buy, but when you're added to the Dow, there's not a lot of money indexed to Dow, to the Dow Jones. So, it won't impact. What would impact Dow Chemical is that it's going to have a 5.7% yield. A 5.7% yield is going to be the highest yield that I follow in big cap stocks, that's safe. That's a buy.

Katherine Ross: So, what should members do with Dow?

Jim Cramer: Keep it when you get it. Dow's been great, now it's been disappointing. It'll be great again.

Katherine Ross: All right, Jim. Thank you for joining us.

Jim Cramer: Thank you.

Katherine Ross: And, we'll see you guys tomorrow.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AAPL, FIVE, CVS, VIAB, CMCSA, AMZN, DWDP.