News
Cramer on 4 Stock Promoters and Why He Owns, Believes in Cryptocurrency Ether
Jim Cramer’s Daily Rapid Fire examines stocks in news outside of CNBC Investing Club’s portfolio. Business day: The human resources software company cut its subscription revenue forecast, and the stock took a hit Friday, falling by 13.5%. “Everyone in the country is trying to shrink” human resources, Jim Cramer said Friday, adding that that’s the problem. Ross Stores: The off-chain retailer reported a better-than-expected quarter. The stock was up 8.5%. Ross Stores competes with TJX, which is a holding in the CNBC Investing Club’s portfolio. Shares of TJX, the company behind TJ Maxx, Marshalls and HomeGoods, “should return to the level they were at” at the height of the company’s earnings surge Wednesday, Cramer said. Shares closed well off the session highs on Wednesday, then fell and rose again on Thursday and Friday. Deckers Outdoor: The company behind Hoka and UGGs reported a better-than-expected quarter. Hoka’s net sales increased by 34%. Deckers shares were rewarded on Friday, up more than 12%. Cramer said “Deckers is a very well-run company,” but cautioned that footwear and apparel “can be fickle.” Intuit: The company’s QuickBooks and Turbo Tax guidance wasn’t good enough for the Street, and the stock fell nearly 7.5%. “Small businesses, aren’t they forming? That’s what’s happening,” Cramer said. Ether: The SEC has approved ether exchange traded funds (ETFs). Cramer said, “Amen.” He added: “I have ether because it is a great store of value in a world where I think the US dollar will struggle because of our poor conditions. [federal budget] deficit.” Cramer said he owns ether in his personal portfolio. “It’s not a stock. But I think it’s worth owning,” she concluded.