Demers continued that for years the real challenge at Westport was just proving the technology works. Now that natural gas engines are out there, all of the pieces of the puzzle are slowly coming together. One of those is the railroads, said Demers, an industry that's watching closely to see if Westport's natural gas locomotive, set to debut next year, really can deliver on its promises.
When asked about his stock's 50% haircut just a few weeks ago, Demers responded to rumors that partner
was moving to compete with Westport. He called the rumors patently false, saying Westport and Cummins will be working together for the next 10 years and there's "lots happening" with that partnership. Cummins did opt to go it alone in developing some natural gas technology, he added, but that was not in an area where Westport wanted to invest.
Cramer said that Westport remains the best bet on America finally adopting natural gas as a surface fuel.
Beyond the Headlines
Don't judge a quarter by its cover, pay attention to more than just the headlines, Cramer reminded viewers, looking at the earnings of
(BF.A - Get Report)
. When Forman reported Wednesday, the headlines read of a huge three-cent-a-share earnings miss on revenue that fell below estimates. But was that really the case?
Shares of Brown-Forman opened up 25 cents a share after the earnings release, noted Cramer, but closed the day up 4.6%. That's because those who did their homework got the really story, he added. In fact, Brown-Forman's operating income was up 13%, beating expectations. The perceived weakness stemmed from fluctuations in foreign exchange rates and inventory changes, along with the sale of a winery business that made for confusing estimates in the first place.
For the year just closed, Brown-Forman saw net sales rise by 9%, said Cramer, with sales of its flagship Jack Daniels brand leading the way, up 12%. Brown-Forman's other categories, including vodka, tequila and even bourbon also showed strong sales. Additionally, the company is seeing a halo effect from its new products, which are exposing more and more consumers to their brands.