“Forget the estimates,” he continued. “If they don’t lose money, I’m happy.”
Cramer called Alcoa “poorly run,” and said that the only way the stock would look attractive is if those estimates came down.
He also went one step further and called for the stock to be removed from the market’s bellwether index.
“They have to take it out of the Dow,” he said.
In other earnings news, Cramer predicted good results from Yum! Brands , thanks to its businesses in China. He said the estimates here are too low given the company’s strong performance last quarter and that China should trump any analyst concerns about lagging Taco Bell or Pizza Hut sales here in the US.
“There’s absolutely tremendous growth left in China,” Cramer said.
Qualcomm might work as a trade going into the quarter, Cramer said. He pointed to the stock’s inclusion on Goldman Sachs’ conviction-buy list, which is noteworthy given how little the bank like QCOM until now. He said a shortage of Sprint 4G phones should be good for the chipmaker.
Finally, all Scotts Miracle-Gro needed to boost business was a fair-weather planting season, and that’s just what the company got. The stock is now just a few points from its 52-week high.
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