Jim Cramer's Warning On This Oil Stock: 'You Don't Want To Be In It'
Avi Kapoor 1 year ago
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Jim Cramer discussed companies such as Western Union, Johnson Controls, MNTN, Nordic American Tankers, Occidental Petroleum, and Kenvue on CNBC's Mad Money Lightning Round.
On CNBC's “Mad Money Lightning Round,” Jim Cramer said The Western Union Company (NYSE:WU) has got no growth.
Western Union, on Aug. 10. announced the acquisition of Intermex (NASDAQ:IMXI) for approximately $500 million. The acquisition is set to bolster Western Union's position in the high-growth Latin American markets.
“Johnson Controls (NYSE:JCI) has done a very good job of moving into the data center. I do like Vertiv (NYSE:VRT) more, but Johnson Controls is a very good company,” Cramer said.
Johnson Controls, on Sept. 10, raised its dividend from 37 cents to 40 cents per share.
When asked about MNTN, Inc. (NYSE:MNTN), he said, “We have to see another quarter, because that was really a suboptimal situation. I'm not going to back it.”
On Aug. 5, MNTN reported a second-quarter loss of 65 cents per share, versus a year-ago loss of 69 cents per share. The company reported quarterly sales of $68.460 million, which beat the analyst consensus estimate of $64.483 million.
Cramer said no to Nordic American Tankers (NYSE:NAT).
Supporting his view, Nordic American Tankers, on Aug. 28, posted weaker-than-expected quarterly sales.
“You don't want to be in it,” Cramer said when asked about Occidental Petroleum Corporation (NYSE:OXY).
UBS analyst Josh Silverstein, on Sept. 15, maintained Occidental Petroleum with a Neutral and raised the price target from $45 to $46.
Cramer said although he doesn't want to dump Kenvue Inc. (NYSE:KVUE) right here, but he doesn't see a lot of upside in it.
On Sept. 16, Citigroup analyst Filippo Falorni maintained Kenvue with a Neutral and lowered the price target from $22 to $20.
Price Action:
- Western Union shares fell 1.7% to settle at $8.20 on Thursday.
- Johnson Controls shares gained 1% to close at $108.48.
- MNTN shares rose 0.1% to settle at $20.08 on Thursday.
- Nordic American shares fell 0.3% to $3.30.
- Occidental Petroleum shares rose 0.4% to close at $47.36.
- Kenvue shares fell 1.3% to settle at $18.10.
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