On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying more Micron Technology, Inc.MU right here. “Now it's coming back down, I think it probably goes to 98, 99,” he noted.
On Aug. 22, Susquehanna analyst Mehdi Hosseini maintained Micron Technology with a Positive and lowered the price target from $185 to $175.
Cramer said he likes Crane Company CR. “It is a very well-run company that has totally pivoted and does very little metal-bending,” he added.
On July 29, Crane reported better-than-expected second-quarter financial results.
The “Mad Money” host recommended to sell some Iron Mountain Incorporated IRM. “Let the rest run. That will be the wise thing to do right here,” he added.
On Aug. 1, Iron Mountain reported better-than-expected second-quarter financial results and issued FY24 AFFO guidance above estimates. Also, the company increased its quarterly dividend.
L3Harris Technologies, Inc. LHX is “terrific,” he said.
On Aug. 14, RBC Capital analyst Ken Herbert downgraded L3Harris Technologies from Outperform to Sector Perform and lowered the price target from $250 to $240.
Cramer said, “I would own Devon DVN, but don't get excited.”
On Aug. 6, Devon Energy reported quarterly earnings of $1.41 per share, which beat the analyst consensus estimate of $1.26 per share. Quarterly revenue came in at $3.917 billion which beat the analyst consensus estimate.
“I think that Intel INTC is getting whacked by AMD AMD,” Cramer said. “I much prefer Arm Holdings ARM.”
On Aug. 1, Intel reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 10 cents per share.
Intel announced a $10 billion cost-reduction plan that it says will streamline operations and meaningfully cut spending and headcount, reducing non-GAAP R&D and marketing, general and administrative (MG&A) to approximately $20 billion in 2024 and approximately $17.5 billion in 2025, with further reductions expected in 2026.
Price Action:
- Micron shares fell 3.8% to settle at $104.26 on Thursday.
- Crane shares fell 0.02% to close at $150.84.
- Intel shares fell 6.1% to settle at $20.10 on Thursday.
- Iron Mountain shares gained 0.6% to settle at $112.78 on Thursday.
- L3Harris shares gained 0.5% to close at $231.21 during Thursday's session.
- Devon shares fell 0.4% to close at $43.67 on Thursday.
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