Executive Decision: Rick Hamada
For his "Executive Decision" segment, Cramer checked in with Rick Hamada, CEO of Avnet (AVT - Get Report), which just delivered a six-cents-a-share earnings beat on better-than-expected revenue and upside guidance. Despite the upbeat news, shares are now trading over $2 less than when the company reported, thanks to the overall market weakness.
Hamada had many positive things to say, noting that last quarter saw record revenue for Avnet and the company continues to do the right things over time and deliver for shareholders.
Hamada noted Avnet's component business, which had seen strong growth last year, saw double-digit increases this quarter. He said that solutions -- offering hardware, software and services as a package deal to customers -- continues to be a driver in their business.Finally, Hamada said Avnet still has a lot of room left on its share repurchase authorization, so the company will be taking advantage of weakness in their shares to buy back more stock. Cramer reminded viewers that sometimes good companies go down through no fault of their own, and Avnet is one of those companies.