Declining raw costs are boosting business for restaurants and other food companies, Cramer said during Thursday’s Stop Trading!. As a result, there are number of the sector’s stocks that are now worth buying.
“Restaurant stocks are probably the strongest group other than technology,” he said.
Cramer likes Panera Bread on any pullback, and ConAgra is “not done going up.” He also pointed to strong performances from Dean Foods and Darden Restaurants as well. Yum! Brands works, too, as lower gas prices offer consumers the chance to dine out again.
Also, Best Buy’s earnings beat and positive guidance are a sign, Cramer said, that the economy finally might be turning up. If BBY can outperform, then so can a company like Whirlpool , which has risen steadily more or less for the last 12 points.
“We're coming out of the most serious depression since the Great Depression,” Cramer said. Unless something causes the economy to plunge again, “we’ve seen something that looks like a bottom.”
Cramer's charitable trust owns Yum! Brands.
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