Daily Stock Market News
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Snowflake : The data cloud company shares fell nearly 3% despite a revenue beat and a good guide. “In the conference call of Nvidia , they listed five competitors. And just said these guys [Snowflake] are just one of five. The company just thinks it’s one of one,” Jim Cramer said Thursday. Ralph Lauren : The stock rose 2%. The fashion brand delivered a quarterly sales and earnings beat. However, the revenue guidance was a little light. Cramer said no matter: “The numbers are perfect. The guidance is good and you’re buying ahead of the Paris Olympics. That’s great.” elf beauty : Shared soared 18% after the company’s better-than-expected quarter. The guidance was a little conservative, but the market gets that. “Somebody tries to knock [elf Beauty stock] down. They won’t be able to. It was just too strong a quarter,” Cramer said. Live Nation : The Justice Department and 30 states are suing Live Nation, looking to break up Live Nation and Ticketmaster. The DOJ probe launched in 2022 and was bolstered by the botched rollout of tickets to Taylor Swift’s Eras tour. “It is a monopoly. It does hurt. and I think people are going to get some relief, which is terrific,” Cramer said. VF Corp : The Vans and North Face owner reported a big miss, and the stock dropped 3%. Williams downgraded shares to a sell, calling it a “very fraught company.” Cramer countered that, saying VF Corp is selling a lot of products and clearing lots of inventory. He added the story at the company is not as negative as the stock, which has dropped 36% in 2024.
Read More: Cramer applauds DOJ suit to break up Live Nation, raves about Ralph Lauren
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