Jim Cramer Was Upset At This Hostile Takeover, But 'They Fixed The Situation. Stock's Been A Horse'

Author: Avi Kapoor | April 09, 2024 09:10am

On CNBC’s "Mad Money Lightning Round," Jim Cramer said he prefers Abbott Laboratories (NYSE:ABT) over Penumbra, Inc. (NYSE: PEN).

"I still fear it after the environmental damage. I am concerned that you can’t really put a price on it," Cramer said when asked about Hawaiian Electric Industries, Inc. (NYSE:HE). "I think that the fires were too great, and therefore the stock could still go lower."

Sibanye Stillwater Limited (NYSE:SBSW) is a "strange" company, Cramer said, "We don’t know, really, enough about it. We know it has a yield, we know that it’s got good properties."

The "Mad Money" host said Emerson Electric Co. (NYSE:EMR) is now working. "I was upset that they did a hostile takeover," Cramer said.

Recall Emerson acquired National Instruments last year for $8.2 billion.

"They fixed the situation, and the stock’s been a horse," Cramer added.

"I think that the notion that there should be a pause in 2028 was one of the dumber things the administration’s done, because that canceled a lot of projects that need, take like five or six years to do. And that’s why that stock is going so low," Cramer said when asked about Excelerate Energy, Inc. (NYSE:SE). "I’d be willing to bet that they have to change that 2028, and that stock’s going to fly. "

Cramer said Ford Motor Company (NYSE:F) is doing well and the company’s stock is starting to come back. Although it has underperformed General Motors Company (NYSE:GM), but it is still higher by 10% for the year, and "I don’t think that’s all that bad," he added.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is "terrific" and "very, very good," Cramer said, "I love it, the CF, the CF franchise is just amazing."

Price Action:

• Hawaiian Electric shares gained 1.5% to settle at $11.07 on Monday.
• Excelerate Energy shares rose 1.5% to close at $15.60 during Monday’s session.
• Shares of Sibanye-Stillwater gained 6.4% to close at $5.51 on Monday.
• Penumbra shares fell 1.7% to settle at $220.07.
• Emerson Electric shares gained 0.1% to settle at $114.67 during Monday’s session.
• Ford shares gained 1% to close at $13.41.
• Vertex Pharmaceuticals shares fell 0.6% to settle at $404.22 on Monday.

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Image: Shutterstock

Posted In: ABT EMR F GM HE PEN SBSW SE VRTX