Jim Cramer -- DSW Gets the Boot; Regeneron's Earnings Are Solid

Shares of DSW are getting stepped on following a disappointing earnings pre-announcement. But Cramer said Regeneron's earnings results look good, though political risks remain in the pharmaceutical industry.
By Bret Kenwell ,

Shares of footwear and accessories retailer DSW (DSW) - Get Report are getting hit on Wednesday following the company's worse-than-expected earnings pre-announcement, down 10% in late morning trading. 

The release "took my breath away," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading."

DSW isn't the only footwear retailer that's been feeling the pinch. Cramer reminded investors that Sketchers (SKX) - Get Report is down 30% in the month following its disappointing earnings report


SKX and DSW data by YCharts

Along with expectations for lower earnings results and a comp-store sales decline of 3.9%, DSW also announced that CEO Michael MacDonald will be stepping down. 

Turning quickly to biotech, Cramer said he liked the earnings results from Regeneron (REGN) - Get Report . The stock is down 3.5% on Wednesday despite the company's top and bottom line earnings beats. 

Investors should remember that biotech stocks have political risks, Cramer said, as politicians continue to make headlines for their comments regarding exorbitant drug prices.

At the time of publication, Cramer's Action Alerts PLUS portfolio had no position in the companies mentioned.

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