Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Oracle : The tech giant had a mixed quarter. But it announced new artificial intelligence partnerships with Alphabet ‘s Google and Microsoft -backed OpenAI. Oracle also reported strong RPO, short for remaining performance obligation. RPO is what contracted customers are expected to pay in the future and the backlog of business. “RPO ⦠this was a gigantic number,” Jim Cramer said Wednesday. Co-founder Larry Ellison was “quite right on the conference call that the best is yet to come.” Cramer said he regrets not sticking with Oracle for the CNBC Investing Club portfolio , saying he had to sell Oracle because it missed quarterly numbers too many times. Birkenstock : Goldman Sachs downgraded the casual shoe company. “This is a momentum stock so it’s not necessarily going to give up the ghost here,” Cramer said. “But it is expensive versus its cohorts.” Johnson & Johnson : The company reached a $700 million settlement with states over the marketing of its talc-based baby powder. This is a positive, Cramer said. But he added that J & J is a health-care staple stock and it’s not going to run here. Paramount : The National Amusements deal with Skydance over Paramount fell apart. Wells Fargo downgraded Paramount, which is controlled by National Amusements owner Shari Redstone. Cramer is concerned about the debt. “Shari Redstone is in a great deal of trouble. She should have taken that dea,.” he said. Caseys General Stores : The convenience store operator had strong earnings. Cramer talked about Caseys’ “breakfast pizza that’s a cult dish that’s sold all day.” He has been saying on “Mad Money” that he likes the stock, which surged 17% on the quarterly numbers.
Source Agencies
