Jim Cramer Says 'Don't Panic' About Cava, Calls This Industrial Company 'Terrific'
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Dover Corporation (NYSE:DOV) is a “terrific industrial company that really is making a great move in the data center.”
“Dover is going to be a big name for me,” he added.
Dover is expected to release second-quarter 2024 earnings on Thursday, July 25. Analysts expect the company to report quarterly earnings at $2.21 per share, up from $2.05 per share in the year-ago period. The company is projected to post revenue of $2.14 billion, compared to $2.2 billion a year earlier.
When asked about Sasol Limited (NYSE:SSL), he said, “No, if you're going to do that you want to buy Dow, no longer Dow Chemicals, Dow Inc (NYSE:DOW).”
On June 20, Sasol announced that the court ruled in favor of the company and TotalEnergies Marketing. Also, it was awarded R3.89 billion in damages and approximately R2.3 billion in interest.
“Don't panic, understand that they're coming down, just as a sector rotation,” Cramer said when asked about CAVA Group, Inc. (NYSE:CAVA).
On June 5, after a SEC filing disclosed that the company’s largest shareholder, Artal International, filed a notice regarding an order to sell 3 million shares following a conversion of Series E preferred stock into common stock.
When asked about New Fortress Energy Inc. (NASDAQ:NFE), he said, “I think the problem here is, frankly, that President Biden put a pause. And I know that there's a judge that said no to that, but I think it put the whole multi-year plan under question, and that's why it's going down.”
On July 1, New Fortress Energy announced that it has entered into a definitive agreement to sell its liquefaction and storage facility in Miami, Florida to a U.S. middle-market infrastructure fund.
Price Action:
- Dover shares gained 2% to settle at $178.56 on Wednesday.
- Sasol shares fell 2.8% to close at $7.62 during Wednesday's session.
- Cava shares fell 5.5% to close at $85.30.
- New Fortress Energy shares gained 1.3% to close at $19.55 on Wednesday.
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