- CNBC’s Jim Cramer on Wednesday highlighted companies that he believes have emerged as winners from earnings season.
- These companies include the chip manufacturer AMD and the industrial companies Trane Technologies and Eaton.
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CNBC’s Jim Cramer told investors Wednesday which companies he believes stood out during earnings season.
“The problem, I think, is that because we’ve been so focused on the market’s wild daily swings, we haven’t really pointed out which companies really stood out this earnings season,” he said. “It stops now, right here. Tonight I will tell you who did what for us lately and what happened when they did it.”
Cramer first pointed to chipmaker AMD, whose CEO Lisa Su said this week that revenue from graphics processors used in data centers is expected to increase thanks to the company’s use of artificial intelligence. AMD ended Wednesday up nearly 10%, and Cramer said he believes the company could have a chance to become a serious competitor in the AI graphics chip market. He added that Su’s claim drove up other stocks in the “mortal AI group,” including Nvidia, Microsoft, Amazon, ServiceNow and Adobe.
He also mentioned industry names Trane Technologies and Eaton. Trane, once known for heating, ventilation and air conditioning, now describes itself as a sustainability solutions company. The stock rose just over 12% through Wednesday’s close, helped by an earnings report that showed strong organic sales growth.
Elsewhere, energy management company Eaton beat analysts’ quarterly profit estimates and reported strong demand for its electrical components and equipment; on Wednesday it rose more than 3%.
“Remember, this measure of rewarding companies that beat the numbers has worked inconsistently lately because we’ve been so damn worried about interest rates.
“When long-term interest rates skyrocket, no one cares about the revenue I just mentioned,” Cramer said. “But we had no worries today because the Fed just spoke and the Treasury just rolled out a fairly benign bond issuance schedule.”
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Nvidia, Amazon and Microsoft