There is speculation on Wall Street that Procter & Gamble will guide down either Wednesday night or Thursday, Cramer said during Stop Trading!. While he admitted the company hasn’t confirmed these reports, the stock was still off about 2.6% with an hour left before the closing bell.
“Obviously something is ailing the stock,” he said, “but the market’s very tough, too.”
Cramer called Apple the most natural “heir” to General Motors’ spot on the Dow Jones Industrial Average, should GM be removed, but said that Monsanto might also work as a replacement.
Nucor is raising its prices for steel, something that is “incredible,” Cramer said, given that plant capacity was at just 40% in the very recent past.
High-end retail might be alive and well, with Cramer endorsing Ralph Lauren as a “very well-run company.” While business in the U.S. may not be that strong right now, many apparel makers are doing well in Asia. Ralph Lauren had a “great quarter,” Cramer said.
Lastly, First Solar is the only solar company that Cramer will recommend. He’s confident in First Solar’s management and technology while at the same time “skeptical” of the firm’s Chinese peers, which some investors seem to favor.
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