Cramer's 'Mad Money' Recap: A Lemming Market
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NEW YORK ( TheStreet) -- Today could have been called "national lemming day," Jim Cramer told "Mad Money" viewers Wednesday, because analyst after analyst took the plunge and downgraded their favorite stocks.
That was certainly the case with
(AAPL), a stock Cramer owns for his charitable trust,
Eli Lilly (LLY) posted good numbers, said Cramer, but that, too, wasn't enough for the analysts, who felt cost-cutting needed to be coupled with revenue growth. That was enough to take down the whole drug sector.Meanwhile, Amgen's (AMGN) revenue miss took that stock down over 6% in today's trading, taking the rest of the biotech group, including Gilead Sciences (GILD) and Celgene (CELG) along for the ride. The lemmings followed suit in the telco group, with AT&T (T) giving investors an excuse to sell Verizon (VZ), among others, while Procter & Gamble (PG) spurred selling in Kimberly-Clark (KMB) and Clorox (CLX). A few stocks managed to escape the analysts, Cramer concluded, including Starbucks (SBUX) and Chipotle Mexican Grill (CMG). But for most stocks, it was a classic tale of follow the leader.
Executive Decision: Andrew LittlefairIn the "Executive Decision" segment, Cramer once again sat down with Andrew Littlefair, president and CEO of Clean Energy Fuels (CLNE), a company leading the charge for the adoption of American natural gas as a surface fuel for trucks and other vehicles. Littlefair said the dream is finally starting to come into focus for America because the engine makers have finally delivered a 12-liter natural gas engine, which is the one truck makers have been seeking. He said five years ago there were no garbage trucks running on natural gas but today, just one year after a natural gas engine for those trucks was introduced, 63% of all new garbage trucks will be natural gas. Big companies are also starting to show interest, said Littlefair, with UPS (UPS) ordering seven times as many natural gas delivery trucks as it did last year. Meanwhile, manufacturers like Procter & Gamble as asking suppliers to convert 10% of their fleets to natural gas in 2013.
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