These are the stocks posting the largest moves before the bell.Market Insiderread more
The Federal Reserve's expected interest rate cuts appears to have impacted J.P. Morgan's forecast for 2019 net interest income.Financeread more
J.P. Morgan chief Jamie Dimon praised the strength of the consumer after the largest U.S. bank posted strong second-quarter quarterly earnings release on Tuesday.Banksread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
KeyCorp said in an 8-K filing the fraud involves a "business customer" and was discovered "on or about" July 9.Banksread more
GE hasn't had a year this good during this millennium. After that massive surge, one trader is warning investors to stay away.Trading Nationread more
Johnson & Johnson's profit jumped 42% in the second quarter, with all three of the sprawling health-care company's businesses performing better than Wall Street expected.Health and Scienceread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Goldman Sachs reported second-quarter results that beat analysts' expectations Tuesday.Financeread more
Early Facebook investor and Trump supporter Peter Thiel weighed in on the Democrats taking on the president in 2020, saying he was "most scared' by Elizabeth Warren.2020 Electionsread more
Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
When Jim Cramer read the fantastic conference call transcript for Netflix on Wednesday night, he was at a complete loss for words. Did management know that they were about to put on an amazing display to rock the world with video consumption innovation?
"This quarter, the one that came after the brilliant 7-for-1 split that made it easier for retail investors to contemplate owning the stock, was so special that I can't even count all the ways I loved it," the "Mad Money" host said.
After all, Netflix must have done something right if it is up 137 percent for the year. Right?
But rather than just glorifying what went right with Netflix, Cramer decided to share his take on what exactly he heard on the conference call instead.
First, Cramer finds it completely ridiculous to think that all of the opportunity that Netflix has is reflected within its $43 billion market cap. The entire world is gravitating to Netflix for its original content, and it has its grip on the Internet and technology. Netflix is being built into almost all televisions built these days. Its growth trajectory is way too big to be put into that box.
Second, there is the total addressable market of more than 400 million people. Cramer thinks Netflix is a bargain, and it's the bargain concept that is making it so successful. Customers get unlimited viewing of shows and movies for practically the same price of a beer in Manhattan. Everyone can afford it!
Third, the original content is simply brilliant, in Cramer's opinion. It is not being dictated by what the advertisers or movie houses want. It's customer first, so it is allowed to be edgy, funny, serious and in any language.
Read more from Mad Money with Jim Cramer
Cramer Remix: After Receptos, here's what's next
General Mills goes natural & gluten-free
Cramer: Mind blowing instant portfolio plays
Fourth, and perhaps most important, Netflix doesn't care. It doesn't play by the rules! It makes all the wrong projections, not just because management wants to underpromise and overdeliver—but because they just don't know how good they are. However, it does know that if it just keeps giving people what they want, subscribers will keep coming.
"Stop saying 'Holy smokes, Netflix is now bigger than X or Y or Z television or entertainment play.' It should be," Cramer said.
At this point, Cramer thinks it would take a massive effort to screw Netflix up. It really is that good. Just one review of the conference call, and all investors will know why it is so awesome.