Cramer: A Sign of an Improved Economy?
The market got a "crystal clear" sign the world's economies are improving, Cramer said Wednesday.
The bullish news came from chemical company PPG Industries , which reported first-quarter earnings are expected to come in between $1.30 and $1.35 a share. Its estimate was 16 to 20 cents higher than the $1.12 the average analyst expected and even topped the Street high of $1.22. PPG makes everything from coatings to packaging, cars, airplanes and ships to commodity chemicals, so Cramer said its estimate bodes well for the greater market and economies around the world.
To achieve this beat, PPG put through aggressive cost controls and higher pricing in commodity chemicals, as well as fiber glass. The company also benefited from the continued recovery in global industrial activity, which CEO Charles Bunch expects to continue in the second quarter.
PPG has posted a 111 percent gain since Cramer got behind it in June 2009 when the stock was trading at $45.45. To find out if the stock has more room to run, Cramer invited Bunch back on "Mad Money." Watch the video to see the full interview.
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