This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
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
Apple(AAPL - Get Report), a stock Cramer owns for his charitable trust,
Action Alerts PLUS
. He said all those analysts holding out hope for a gigantic dividend boost finally gave up and downgraded or cut their targets.
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.
(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
A few stocks managed to escape the analysts, Cramer concluded, including
Chipotle Mexican Grill(CMG). But for most stocks, it was a classic tale of follow the leader.
Executive Decision: Andrew Littlefair
In the "Executive Decision" segment, Cramer once again sat down with Andrew Littlefair, president and CEO of
Clean Energy Fuels(CLNE - Get Report), 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.