Zinger Key Points
- SoundHound AI struggles financially, Jim Cramer criticizes its longstanding lack of profitability.
- Cramer optimistic about OneMain Holdings amid favorable earnings and potential rate cuts.
- Get New Picks of the Market's Top Stocks
On CNBC's “Mad Money Lightning Round,” Jim Cramer said SoundHound AI, Inc. SOUN has got to make money and is losing money. “It's been around forever, and it's not making money. That's no good for me,” he added.
SoundHound AI is expected to report its 2024 first quarter financial results on Thursday, May 9, after the closing bell.
“It's a little bit riskier than people would like,” Cramer said when asked about OneMain Holdings, Inc. OMF. “It's a personal loaner. But, you know what, I think the Fed is going to lower rates, so I think it's going to work for you.”
On April 20, OneMain Holdings posted better-than-expected earnings for its first quarter and raised its dividend from $1.00 to $1.04 per share.
The “Mad Money” host said he is going to do some work on Cracker Barrel Old Country Store, Inc. CBRL. “I used to recommend this stock, and it has been horrendous, and I haven't looked at it in may years. So we'll come back and do that one,” he added.
Cracker Barrel is scheduled to provide a real-time webcast and rebroadcast of its strategic transformation plan update on Thursday, May 16.
Cramer said he likes General Motors Company GM very much and recommended buying the same.
Goldman Sachs Group is reportedly in discussions to shift its General Motors credit-card program to Barclays, marking a huge move in Goldman's withdrawal from consumer lending.
Heartland Financial USA, Inc. HTLF is a “very good” regional bank, Cramer said. “I think you're in good hands with that one.”
On April 29, UMB announced an agreement to acquire Heartland Financial.
Cramer said NextEra Energy, Inc. NEE is losing too much money for him to recommend.
On April 23, NextEra Energy posted better-than-expected quarterly earnings.
Price Action:
- OneMain shares rose 0.1% to settle at $50.81 on Thursday.
- SoundHound shares gained 1.8% to close at $4.49.
- NextEra Energy shares gained 0.4% to settle at $68.85.
- Cracker Barrel shares rose 1.5% to close at $57.18 on Thursday.
- General Motors shares rose 0.5% to settle at $44.67 on Thursday.
- Heartland Financial shares rose 2.8% to settle at $43.26 during Thursday's session.
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