Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Lowe’s : The home improvement retailer beat on earnings but missed on revenues. Lowe’s also cut its full-year outlook. Shares were higher earlier but turned modestly negative. “The stock is hanging because of the Federal Reserve. No one wants to this stock ahead of Jackson Hole,” Jim Cramer said Tuesday. Lowe’s says it needs housing to be better. “The Fed lowers [rates], we get transactions.” Medtronic : The medical devices giant raised its full-year outlook after beating quarterly estimates. The stock rose 3%. “I know that Medtronic has been one of my faves,” Cramer said. “I’m not sure about this one.” Amer Sports : The company behind the Salomon and Wilson brands delivered better than expected quarter. The stock jumped more than 12%. “This one has been one that’s been a disappointment. Maybe it’s finally showing some life,” Cramer said. Vornado Realty : The real estate investment trust got a double upgrade to buy from sell at Evercore ISI. Shares rose modestly to a 52-week high. Many people think “it’s a bridge too far to think that city real estate can come back,” Cramer said. He stressed that’s not the case. “It’s good.” Abercrombie & Fitch : The retailer was named a positive catalyst idea at Citi. The stock was little changed. “The company has been money over and over and over again.”
Tag: morningmeetingrapid
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Jim Cramer: Merck is a buy after the drugmaker’s post-earnings dip — here’s why
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Merck : The drugmaker reported a better-than-expected quarter. It raised its full-year sales outlook but was still a little short of estimates. The stock lost nearly 9%. Merck’s acquisition of Acceleron and its pulmonary arterial hypertension treatment three years ago for $11.5 billion is about to pay off. The FDA approved it. Jim Cramer said Tuesday he would take advantage of the dip and buy Merck ahead of the benefit from this drug. Pfizer : Better-than-expected sales and adjusted earnings, as well as a full-year outlook raise, were not enough to keep the stock higher. It fell 2.5%. Cramer was fairly non-committal on the name. “Pfizer is fine. Not great. Not bad.” PayPal : The digital payments company reported a better-than-expected quarter. The new CEO, Alex Chriss, knows what he’s doing, Cramer said. “I would buy the stock.” Howmet Aerospace : The maker of parts for the aerospace and transportation industries delivered a better-than-expected second quarter and the stock soared more than 13%. “The demand for anything aerospace is intense,” Cramer said. “That means this company can make you money.” SoFi Technologies : The financial services company shares were slightly higher after earnings Tuesday but have since fallen. “It can’t get traction,” Cramer said. That’s because investors want growth like a bank and CEO Anthony Noto is trying to make it “more like a software company,” he said.
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Jim Cramer calls this stock the Buffett bank; warns nothing really new on Netflix
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Bank of America : Piper Sandler upgraded the stock to neutral from underweight (hold from sell) and raised its price target to $42 per share from $37. “It’s becoming the Buffett bank,” Jim Cramer said Tuesday ahead of next week’s earnings. “You’re seeing a recognition that their bond portfolio wasn’t really a danger after all.” Warren Buffett’s Berkshire Hathaway owns a huge stake in BofA. RH : Stifel started coverage of the company formerly named Restoration Hardware with a buy and a $315-per-share price target. CEO Gary Friedman sees an inflection point. “I don’t want to bet against Gary,” Cramer said. “He’s bought a huge amount of stock.” Intel : The struggling chipmaker was trying to rally for the fifth session in a row. Cramer said he’s not a fan of the stock but “every dog has its day.” Netflix : Cowen increased its price target on the stock ahead of earnings next week. “There’s nothing new driving that damn stock,” Cramer said. “It doesn’t matter, though.” Smurfit Westrock : Stifel started coverage of the paper-based packaging company with a buy rating and a $65.70-per-share price target. “There’s been tremendous consolidation in that industry. And yet, it’s still not really been able to get rolling,” Cramer said.
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Jim Cramer says Tesla soared on a short squeeze, questions ServiceNow sell call
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Corning : Shares of the specialty materials company popped more than 10.5% on Monday after pre-announcing better-than-expected earnings. Management is now forecasting higher revenue and earnings-per-share on the high end of previous guidance for the second quarter. The company is set to report on July 30. Shares of Corning, which makes glass for Apple devices, reached their highest levels since February 2022. Tesla : Shares of the electric vehicle leader made a huge, 27% increase last week after the company delivered better-than-expected second-quarter production and deliveries. The stock jumped another nearly 3% on Monday. Cramer called the rally a short squeeze — meaning investors betting Tesla stock would go down were forced to cover as it ripped higher. JPMorgan : The bank caught a rare downgrade, with Wolfe Research taking its rating to peer perform from outperform (hold from buy) on valuation and exposure to lower net interest income given the threat of lower Federal Reserve interest rates approaching. Cramer said he’s concerned heading into JPMorgan’s second-quarter earnings Friday since there was a big sell-off following its Q1 release in April when the bank guided flat NII for 2024. “I don’t want the stock coming in hot,” he added. Domino’s Pizza : The pizza delivery chain was upgraded to an outperform rating from a neutral (buy from hold) at Baird. The analysts also raised their price target to $580 per share from $530. Baird sees the recent 7.4% pullback in Domino’s stock over the last eight sessions as an opportunity. They cited strong fundamentals, product pipeline, and management. Cramer thought this was a fair call since Domino’s CEO Russell Weiner is “crushing it.” ServiceNow : Shares of the enterprise software company took an over 4% dive on Monday after Guggenheim downgraded the stock to sell from neutral. The analysts said the company will get a boost from its generative artificial intelligence business in the second half of this year but won’t see that momentum into 2025. Cramer said the call was contrary to CEO Bill McDermott’s stance that generative AI offerings have been resonating with customers.
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Jim Cramer likes bullish calls on Viking and Airbnb but is cautious on this bank
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. T-Mobile : The wireless carrier announced plans to pay $4.4 billion to buy most of U.S. Cellular . “Who am I to doubt [T-Mobile CEO] Mike Sievert? They got some growth. So stock going higher,” Jim Cramer said Tuesday. T-Mobile was up just under 1%. U.S. Cellular rose more than 1%. Viking Holdings : The cruise line operator’s stock saw lots of analyst initiations. The company went public on May 1. “They don’t want kids, and they don’t want gambling,” and that’s the appeal of Viking, Cramer said. Airbnb : Shares of the short-term rental company were upgraded to a buy-equivalent outperform rating at Wedbush. “I felt that the quarter was excellent. The app is really good. I disagreed with the market. It’s a hard thing to do. Wedbush is basically giving you the bull case,” Cramer said. Shares dropped 7% after its earnings report on May 9 and were still down $10 since the Friday’s close. Huntington Bancshares : The regional bank stock was upgraded to a buy-equivalent overweight rating at JPMorgan. “I thought that the upgrade made very little sense. But I recognize that Huntington Bancshares is in a good state,” Cramer said. Texas Instruments : CNBC reported that activist investor group Elliott Management has taken a $2.5 billion stake in the chipmaker. Cramer said Texas Instruments didn’t make the right moves with customers and shareholders and that’s why Elliott moved in.
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Jim Cramer’s quick takes on JPMorgan, Tesla, TSMC, Take-Two and Fastly
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. JPMorgan : CEO Jamie Dimon’s annual letter to shareholders is out. He thinks artificial intelligence can be as revolutionary as the printing press, steam engine, electricity, computing, and the internet. He also sees a broad range of interest rates from 2% to 8%. “Jamie Dimon is a cautious banker. That said, I think they’re going to have a good quarter. The letter made me feel even better about it,” Jim Cramer said Monday. But Cramer added that his read of the Dimon letter signals business might be tougher down the road. JPMorgan and Club bank stock Wells Fargo kick off earnings season Friday. Tesla : The EV maker had a volatile day Friday. But shares were up more than 4% on CEO Elon Musk announcing a robotaxi event for August. “The robotaxi. The CyberTruck. Enough already. Hey, you’re getting your a** kicked. How about that?” Cramer said. Taiwan Semiconductor Manufacturing Company : The chipmaker gets $6.6 billion from the U.S. government to support to building three plants in Arizona. “Commerce Secretary Gina Raimondo delivered a great contract. It’s two nano. And that’s what we need in this country,” Cramer said. America needs chip manufacturing security to mitigate the risk of China doing something in Taiwan, he added. Take-Two Interactive : The video game stock was upgraded at Citi to buy. The analysts like the risk-reward ratio following a recent sell-off on GTA 6 timing uncertainty. Does Citi know “when Grand Theft Auto is going to ship?” Cramer asked. He said if the analysts do, they have a right to make that call. Fastly : The stock was upgraded to a buy-equivalent overweight rating at Piper Sandler. The analysts said the company is gaining market share in the core content delivery network market. “I think this content delivery market is ripe for consolidation,” Cramer speculated.