Daily Stock Market News
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Workday : The HR software company cut its subscription revenue outlook, and the stock was being punished Friday, down 13.5%. “Everybody in the country is trying to scale back” human resources, Jim Cramer said Friday, adding that’s the problem. Ross Stores : The off chain retailer reported better than expected quarter. The stock was rising 8.5%. Ross Stores competes with TJX, which is a holding in the CNBC Investing Club portfolio. Shares of TJX, the company behind T.J. Maxx, Marshalls, and HomeGoods, “should revisit where it was” at the height of Wednesday’s earnings increase, Cramer said. The stock Wednesday finished well off the highs for the session and then went down and up Thursday and Friday. Deckers Outdoor : The company behind Hoka and UGGs delivered a better-than-expected quarter. Hoka net sales were up 34%. Shares of Deckers were being rewarded, up more than 12% on Friday. Cramer said “Deckers is very well run company” but warned that footwear and apparel “can be fickle.” Intuit : The QuickBooks and Turbo Tax company’s guidance was not good enough for the Street, and the stock fell nearly 7.5%. “Small businesses, are they not forming? That’s what’s going on,” Cramer said. Ether : The SEC approved ether exchange-traded funds (ETFs). Cramer said, “Amen.” He added, “I have ether because it’s a great store of value in a world where I think that the U.S. dollar is going to have a hard time because we have such bad [federal budget] deficits.” Cramer said he owns ether in his personal portfolio. “It’s not a stock. But I think it’s worth owning,” he concluded.
Read More: Cramer on 4 stock movers and why he owns, believes in cryptocurrency ether
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