During CNBC’s ‘Mad Money Lightning Round,’ Jim Cramer provided his take on a range of stocks. He deemed VICI Properties ‘fine,’ a REIT that will report its third-quarter financial results on Thursday, October 31st. While Cramer acknowledged that STMicroelectronics is also ‘fine,’ he expressed a preference for Micron Technology. STMicroelectronics is set to release its third-quarter earnings before the opening bell on the European Stock Exchanges on October 31st.
Cramer lauded Tetra Tech, describing it as ‘remarkable.’ This follows the company’s recent announcement of a $249 million contract awarded by the U.S. Army Corps of Engineers for environmental assessment and design services across the United States. He was less enthusiastic about Crown Castle, stating it’s ‘just okay. It’s not that well-run.’ He discouraged viewers from chasing the stock, despite Goldman Sachs analysts maintaining a ‘Neutral’ rating and increasing the price target from $105 to $120 on September 26th.
For Schlumberger Limited, Cramer recommended buying the stock, emphasizing that it is the ‘best of breed.’ This advice comes after SLB announced on October 1st a collaboration with ADNOC Drilling and Patterson-UTI to accelerate the UAE’s unconventional oil program.
When asked about New Fortress Energy, Cramer expressed surprise at its low stock price, suggesting investors ‘have to stick with it.’ This follows last week’s news of the CEO’s $50 million stock purchase. Cramer also advised holding onto Pure Storage, citing their recent strong earnings report where they exceeded analyst estimates. Pure Storage reported quarterly earnings of 44 cents per share on August 28th, exceeding the consensus estimate of 37 cents per share.
Here’s a quick look at how these stocks performed on Monday:
* VICI Properties shares closed at $32.42.
* Pure Storage shares gained 0.2%, closing at $51.32.
* STMicroelectronics shares fell 0.9%, closing at $28.18.
* Crown Castle shares slipped 0.3%, closing at $111.20.
* SLB shares gained 0.3%, closing at $45.59.
* Tetra Tech shares fell 0.7%, closing at $48.01.
* New Fortress Energy shares fell 6.9%, settling at $9.39.
