On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying more shares of Micron Technology Inc. (MU) here. “Right now, the stock is starting to drop, and I think it's going to probably go up to $98, $99,” he noted.
On August 22, Susquehanna analyst Mehdi Hosseini maintained his “positive” rating on Micron Technology and lowered his price target from $185 to $175.
Kramer said he likes Crane Company CR. “They’ve completely turned it around and are a very well-run company that doesn’t do much metal bending anymore,” he added.
On July 29, Crain's reported better-than-expected second-quarter results.
The “Mad Money” host recommended selling part of Iron Mountain Inc. IRM. “Leave the rest alone. That's the smart thing to do right now,” he added.
On August 1, Iron Mountain reported better-than-expected second-quarter results and issued better-than-expected AFFO guidance for fiscal year 24. The company also increased its quarterly dividend.
L3Harris Technologies, Inc. LHX is “fantastic,” he said.
On August 14, RBC Capital analyst Ken Herbert downgraded L3Harris Technologies to Sector Perform from Outperform and lowered his price target from $250 to $240.
“We're going to own Devon DVN, but don't get too excited,” Kramer said.
Devon Energy reported quarterly earnings of $1.41 per share on August 6, beating analysts' consensus estimates of $1.26 per share. Quarterly revenue of $3.917 billion also beat analysts' consensus estimates.
“I think Intel is getting beaten by AMD,” Cramer said. “I think ARM Holdings is a lot better.”
Intel on Aug. 1 reported quarterly earnings of 2 cents per share, below analysts' expectations of 10 cents per share.
Intel announced a $10 billion cost-reduction plan to streamline operations, significantly reduce spending and headcount, and reduce non-GAAP research and development and marketing, general and administrative (MG&A) expenses to approximately $20 billion in 2024 and $17.5 billion in 2025, with further reductions expected in 2026.
Price Trends:
Micron shares fell 3.8% on Thursday to close at $104.26. Crane shares were down 0.02% to close at $150.84. Intel shares were down 6.1% on Thursday to close at $20.10. Iron Mountain shares rose 0.6% on Thursday to close at $112.78. L3Harris shares rose 0.5% in Thursday trading to close at $231.21. Devon shares were down 0.4% on Thursday to close at $43.67.
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