Cramer: Unexpected Gainer Has Room to Run
By: Lee Brodie | Producer
By Thursday's close shares of this stock shot 7% higher, making it one of the best gainers on the NYSE. And Cramer thinks there's more where that came from.
The stock that's grabbed the attention of the Mad Money host is Jabil Circuit TICKER: JBL.
As leading providers of electronic manufacturing services, when other companies outsource their manufacturing operations, they go to Jabil.
"They assemble everything from basic consumer technology like set top boxes and cellphones including the cases for Apple's iPhones to industrial and networking equipment, clean technology, medical devices and more. This is a company that has its fingers in a lot of different cookie jars," said Cramer
And their latest results seemed to confirm the thesis.
On Wednesday, the St. Petersburg, Fla., company posted fiscal first-quarter earnings of $106 million, or 51 cents per share, on revenue of $4.6 billion. Excluding one-time items, Jabil made 61 cents per share. Analysts polled by FactSet on average expected 56 cents per share on revenue of $4.4 billion.
Read More: Jabil Shares Up After 1Q Results Beat Street
"What's gratifying is that we put up our highest revenue number in what is really an otherwise lackluster demand environment," said Tim Main the CEO of Jabil Circuit on Mad Money.
Considering all the concerns about the economy, "those results were fabulous," added Cramer
And after his conversation with Tim Main the CEO of Jabil Circuit (which you can watch by clicking here) "Cramer added "I think the stock could have a lot more room to run."
Read More: Scaling the Abyss - 9 'Buys' if Nation Falls Off Fiscal Cliff
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