Jim Cramer shares his thoughts on Boeing, Intel, AMD, Masimo, Tesla, Rivian and Cleveland-Cliffs

Published Mon, Mar 25 202411:20 AM EDT

Kevin Stankiewicz @in/kevin-stankiewicz-b5593466 @kevin_stank

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Boeing : CEO Dave Calhoun will step down at the end of 2024, the company announced Monday alongside two other leadership changes. Its board chairman will not stand for reelection at its annual meeting in May, while the head of Boeing Commercial Airplanes is leaving the company immediately. The company is grappling with the fallout of an Alaska Airlines door incident earlier this year. Boeing shares rose about 0.4%. Jim Cramer said General Electric CEO Larry Culp may be floated as a potential Calhoun successor, given GE's aerospace business. "I don't know if they can get Larry, though," Cramer said. Intel , AMD : Shares of both chipmakers were lower Monday, following Financial Times report that said China plans to prohibit the use of Intel and AMD chips in government computers and servers. "We've seen this before," Cramer said, referring to Beijing clamping down on U.S. tech companies in a bid to elevate its domestic industry. "If it's true, yeah, it's a negative. The government has a lot of PCs," Cramer said, though he cautioned that "I don't know if it's true or not." Masimo : The medical technology company said Friday it is considering spinning off its consumer-focused business. An activist investor with a sizable stake in the company and a board seat already said he intends to nominate two more directors . Masimo shares rose more than 3%. "I think it should split up," Cramer said. Tesla , Rivian : Analysts at Mizuho Securities downgraded a host of electric vehicle makers, including Tesla and Rivian, on concerns about slowing demand for battery-powered automobiles. "Look, is Rivian running out of money? They do have a source of money. Tesla, unfortunately, the numbers are just not there. They're not there in Germany; they're not there in China," Cramer said. In autos, the CNBC Investing Club owns Ford . Cleveland-Cliffs : The steelmaker and mine operator said Monday it is receiving up to $575 million from the U.S. Department of Energy for two decarbonization projects at steel plants in Ohio and Pennsylvania. Shares rose about 1.5%. "This one should go back to its high," Cramer said, noting that recently Cleveland-Cliffs got "caught up" in negotiations to acquire U.S. Steel. Cleveland-Cliffs had been a "bad company," Cramer said, "but they've gotten disciplined and they've figured it out." Nucor is still Cramer's preferred steel stock.