In a whirlwind of stock picks on CNBC’s ‘Mad Money Lightning Round,’ Jim Cramer offered his take on the market’s hottest companies. Here’s a breakdown of his recommendations and the latest news surrounding them:
Intuitive Surgical: A Robotic Surgery Leader
Cramer enthusiastically declared, “Buy Intuitive Surgical!” The company, a leader in robotic-assisted surgery, recently reported a strong third quarter, exceeding revenue and earnings expectations. Intuitive Surgical posted $2.04 billion in revenue, beating the consensus estimate of $2 billion. Their adjusted earnings per share also came in above projections at $1.84, surpassing the anticipated $1.63. This strong performance demonstrates the company’s continued growth and market dominance in the rapidly growing robotic surgery space.
Kimco Realty: A Solid Real Estate Operator
Cramer labeled Kimco Realty as “a great operator” and encouraged viewers to hold onto their shares. The real estate investment trust (REIT) made headlines in October with the acquisition of Waterford Lakes Town Center, a significant 976,000-square-foot shopping center in Orlando, Florida. This strategic move demonstrates Kimco’s commitment to expanding its portfolio and solidifying its position in the retail real estate market. The acquisition further strengthens the company’s financial position and provides opportunities for future growth.
Nutanix: A Story Hard to Understand
While Cramer expressed enthusiasm for other companies, he was less optimistic about Nutanix, a cloud computing company. He described their story as “hard to understand.” Despite a recent upgrade from Morgan Stanley, who raised their rating to Overweight and increased their price target, Cramer remained skeptical. This suggests that Nutanix faces challenges in attracting investors and may need to further clarify its business model and growth strategy.
CrowdStrike: A Buy for Cybersecurity
In the realm of cybersecurity, Cramer enthusiastically called CrowdStrike a “buy.” The company recently partnered with Fortinet to enhance endpoint and firewall protection, integrating its AI-native security from the Falcon platform with FortiGate next-generation firewalls (NGFW). This collaboration highlights CrowdStrike’s commitment to innovation and its dedication to providing comprehensive cybersecurity solutions for businesses. The partnership is likely to strengthen CrowdStrike’s market position and appeal to a broader range of clients.
Rocket Lab: A High-Speculative Stock
Cramer labeled Rocket Lab, a space exploration company, as a “high speculative” stock. The company recently received an Overweight rating from Keybanc analyst Michael Leshock, who raised the price target from $11 to $12. While Rocket Lab is operating in a rapidly evolving and exciting industry, its speculative nature makes it a riskier investment. Potential investors should carefully weigh the risks and rewards before making a decision.
Stock Performance
Intuitive Surgical shares rose by 1.1% on Tuesday, closing at $516.31. Kimco shares experienced a slight decline of 0.9%, settling at $23.67. Nutanix shares gained 1.3% to close at $64.97. CrowdStrike shares saw a notable increase of 3.2%, ending the day at $310.94. Finally, Rocket Lab shares rose by 1.9% to settle at $11.47 on Tuesday.
