“How do you find bargains in this terrific bull market where so many stocks have already given us enormous gains?” Cramer asked viewers on Thursday. “You look for stocks that aren’t getting the respect they deserve. I call these the Rodney Dangerfield names.”
That’s Nucor after the very positive earnings and guidance it reported on today.
Nucor delivered a 2-cent loss on earnings—better than the 10-cent loss analysts expected—on revenues that were up 31 percent. More importantly, though, the company’s operating results improved throughout the quarter and should continue to do so throughout Q1 and Q2 of this year. And on top of that, the typically restrained CEO, Dan DiMicco, sounded cautiously optimistic.
Regardless, though, the stock dropped $1.10 on Thursday, Cramer said, because Nucor offered a story similar to other steelmakers right now and some investors took profits. But Cramer wondered if they knew just how must money Nucor can make as the economy continues its recovery. In fact, he said this is the perfect time in the business cycle to own a stock like NUE.
But don’t just take it from. Check out his interview with DiMicco and see for yourself.
When this story published, Cramer’s charitable trust owned Nucor.
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