President Obama on Friday praised truck maker Navistar International as a company at the heart of the push for clean-energy technologies here in the US. The endorsement came just days after Cramer himself highlighted the stock, though for a different reason.
Speaking in Hyattsville, Md., about Friday’s largely disappointing jobs report, which is why a big reason the Dow had plummeted over 200 points since the opening bell, the president tried to put the focus on sustainable job creation for the future. And it’s something he thinks will happen as the US invests in “products and industries that we haven’t even imagined yet,” specifically in the technologies that will free the country from its reliance on carbon-emitting crude oil and coal.
President Obama introduced Navistar CEO Dan Ustian during the speech, talking up one of the company’s newest products: an electric delivery truck that is fueled entirely by plug-in power. But it wasn’t just the technology that the president was applauding. It was also the jobs created by the Indiana plant that built the truck.
“They’re now part of a cutting-edge industry,” Cramer said of the plant’s workers, “that will create even more jobs and businesses in the months and years ahead. That’s what the future can look like.”
Cramer on Wednesday put a spotlight on Navistar, as well as Cummins and Paccar , as part of what he thinks is a bull market in the truck industry. Granted, he said Navistar offered more risk than the other two, but that’s because 80% of its sales come from North America. That means the company is more exposed to a recovery in trucks, and, of course, any downside should the recovery not go according to plan.
Cramer said he likes Cummins the most, though, calling it the best-of-breed of the group, while Paccar would work as a value play. Click here for his full report.
When this story published, Cramer’s charitable trust owned Cummins.
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