Jim Cramer: Energy Transfer Has 'Done A Very Good Job,' Recommends Selling This Tech Stock
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Energy Transfer LP (NYSE:ET). “You've got a winner there now. They have done a very good job,” he added.
On May 28, Energy Transfer announced the acquisition of WTG Midstream in a $3.25 billion transaction.
When asked about Obsidian Energy Ltd. (NYSE:OBE), he said, “You can hold it, but I'd rather see you in Coterra (NYSE:CTRA).”
On May 2, Obsidian Energy posted weak earnings for its first quarter.
The “Mad Money” host recommended selling SoundHound AI, Inc. (NASDAQ:SOUN).
On May 9, SoundHound AI reported better-than-expected first-quarter financial results.
When asked about Super Micro Computer, Inc. (NASDAQ:SMCI), he said, “I think you're OK, but, look. Why not own the real deal? Why not own Nvidia (NASDAQ:NVDA)?”
On April 30, Supermicro reported mixed third-quarter financial results.
Cramer recommended to hold onto GE Vernova Inc. (NYSE:GEV). “It's just a really good situation,” he noted.
On June 3, JPMorgan analyst Mark Strouse maintained GE Vernova with an Overweight rating and increased the price target from $176 to $186.
Cramer said it's “time to take profits” in The AES Corporation (NYSE:AES).
On May 2, AES posted better-than-expected quarterly earnings.
“I want profits taken in that name,” Cramer said when asked about ZIM Integrated Shipping Services Ltd. (NYSE:ZIM).
On May 21, ZIM Integrated Shipping Services reported a first-quarter FY24 sales increase of 14% Y/Y to $1.56 billion, missing the consensus of $1.57 billion.
Leonardo DRS, Inc. (NASDAQ:DRS) is “real good,” Cramer said.
On May 1, Leonardo DRS posted better-than-expected results for its first quarter.
Price Action:
- Obsidian Energy shares fell 4.3% to settle at $6.99 on Tuesday.
- AES shares fell 1.3% to close at $20.49 on Tuesday.
- GE Vernova fell 4.3% to close at $163.04 during Tuesday's session.
- Energy Transfer shares fell 0.1% to close at $15.37.
- Leonardo DRS shares closed at $23.65 on Tuesday.
- Super Micro Computer shares rose 0.1% to settle at $771.61 during Tuesday's session.
- SoundHound shares gained 3.2% to close at $4.93 on Tuesday.
- Zim Integrated Shipping shares gained 0.3% to settle at $21.28.
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