NEW YORK (TheStreet) -- Walgreen (WAG) missed earnings per share estimates of 91 cents by 1 cent, on in-line revenue. However, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, noted the company "gave a very optimistic read for next year."
He said if investors thought the market was "rolling over" they wouldn't care about optimism for next year. Instead, they would only focus on the quarter in which the company just missed estimates. WAG is currently up 4% to $67.
Turning to CSX Corp. (CSX), Bank of America suggests coal has bottomed, which would be good for the railroad company. Cramer said Michael Ward, CEO of CSX, told him the same thing during a recent airing of CNBC's "Mad Money.""This is one cheap railroad" compared with Union Pacific (UNP) and Norfolk Southern (NSC), Cramer asserted. Cramer added that coal prices have become a less-relevant factor because they have sunk so low. He concludes the railroad stocks can move higher.
-- Written by Bret Kenwell in Petoskey, Mich.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV