NEW YORK (TheStreet) -- "I like the quarter," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Mad Dash" segment, regarding Pepsico's (PEP) recent earnings report.
The company beat on top- and bottom-line estimates, increased margins and posted organic growth of 4% or better in each business segment.
"I've got nothing to complain about," he added, saying Pepsi's snack business is doing really well. The company is also returning capital to shareholders via a dividend and share buyback program.
Turning to Chipotle Mexican Grill (CMG), the company posted an incredible 13% growth in comp sales. "I thought it was a typo," Cramer said, highlighting how good the result was. In this environment, 5% comp sales growth is considering "amazing," he added.While earnings per share took a slight hit due to rising input costs, the main takeaway from the report is revenue and comp sale growth, he suggested. Regarding the broader market, Cramer said "old tech" stocks continue to outperform "new tech" stocks. The stocks that have been doing well don't have insider selling, are buying back stock and have low multiples, he argued. However, many names are beginning to bottom and the new technology companies -- like Salesforce.com (CRM) and Workday (WDAY) -- need to turn around for the market to have fully bottomed, Cramer concluded.
-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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