Investors may be wondering why Chevron is down only about 80 cents on Tuesday despite announcing lower-than-expected profits for the fourth quarter. Cramer during Stop Trading! offered an explanation.
“Chevron was not a real guide down,” he said.
A deeper look at the announcement showed that the company’s production rate is in fact up 9%, Cramer said, which is “much better than any of the large oil companies.” That saved CVX from taking what could have been a much bigger hit.
“This was good news,” Cramer said of the Chevron release, “not bad.”
Should banks that have paid back Troubled Asset Relief Program funds be taxed to make up for those institutions whose loans are still outstanding? Find out what Cramer has to say about it. Plus, get the latest on the executive-compensation debate, specifically in relation to Goldman Sachs.
Cramer’s charitable trust owns Chevron and Goldman Sachs.
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