Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. 3M: Shares were slightly lower Monday, giving back some of their 23% surge Friday on the back of a better-than-expected quarter and raised outlook. New CEO Bill Brown, who took over at the industrial firm May 1, had success at L3Harris Technologies and “will be a big winner here,” as well, Jim Cramer said. Bristol Myers Squibb : Shares climbed 1%, building on their 11.4% advance in Friday’s session after the drugmaker’s strong quarter and improved revenue and earnings guidance. “This is about believing they can get to 2030, when they have a lot of new drugs that they hope will come due that will be successful and [therefore] the loss of exclusivity won’t hurt them that much,” Cramer said. McDonald’s : Shares rose 4% despite the fast-food giant reporting weaker-than-expected earnings and revenue along with same-store sales declines. Cramer said he thinks investors are more focused on the fact that McDonald’s $5 meal deal is being extended. “That’s enough to be able to turn it around,” Cramer said. On Semiconductor : Shares surged more than 13% after the chipmaker’s second-quarter sales and profit exceeded Wall Street estimates. “This is very simple. These are digital chips. They’re the ones that people have kind of forgotten about. Texas Instruments makes the same [kind of chips]. That’s the stuff that’s moving up” while buzzier chip stocks tied to artificial intelligence, such as Arm Holdings , are struggling, Cramer explained. Colgate-Palmolive : Shares ticked higher by almost 1%, adding to their 3% gain Friday in response to a beat-and-raise quarter. Colgate’s quarter was “shockingly good, frankly,” Cramer said. “Amazing because pet food is persona non grata, and suddenly pet food does very good for them.”
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