Morning Bell With Jim Cramer: Alphabet Had the Best Quarter

Jim Cramer shares stock market news about the quarterly earnings of Action Alerts PLUS holdings Alphabet Inc., AbbVie, and Starbucks.
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Dow futures surge into the election home stretch following the fall in October. Global stocks will try to rally from two-month lows as investors react to solid factory activity in Europe and Asia. 

U.S. election volatility continues to grip markets as does the rising tide of coronavirus infection rates, which could top 100,000 per day in the coming weeks.

In the last episode of Mad Money, Jim Cramer said that investors need to strap themselves in for a massively confusing week. He expects more selling as investors lock in their gains ahead of the election. 

TheStreet's Katherine Ross and Cramer discussed stock market news including talking about the quarterly earnings of Alphabet Inc., AbbVie, and Starbucks.

Alphabet Stock: Buy or Sell?

Alphabet Inc.  (GOOGL) - Get Report is one of the few tech stocks seeing some post-earnings love on Friday after delivering strong earnings and revenue, both of which topped expectations, shares have risen about 4% on the day. The stock was up as much as 8% at the session high.

Cramer said that Alphabet’s quarter earnings are the best he has ever seen, and that includes great revenue. He thinks that Google cloud is doing “amazingly” well and that Youtube is a “profit center."

AbbVie Stock: Buy or Sell?

AbbVie Inc.  (ABBV) - Get Report  on Friday posted stronger-than-expected third-quarter earnings as strong global sales from its popular Humira rheumatoid arthritis treatment and its strong cancer-drug sales offset a dip in revenue related to its Botox treatments.

AbbVie said net earnings for the three months ended in September were $2.31 billion, or $1.29 a share, vs. $1.88 billion, or $1.26 a share, in the comparable year-earlier quarter.

Cramer said that this was a “terrific” quarter for AbbVie and that the stock is going up as the company did much better than expected.

Starbucks Stock: Buy or Sell?

Starbucks  (SBUX) - Get Report shares traded lower on Friday, despite the coffee-chain giant reporting fiscal fourth-quarter earnings and sales that beat analysts’ forecasts, and saying that it expects to fully recover from the pandemic next year.

Shares of Starbucks were down 2.71% at $85.91 after the Seattle-based coffee company posted adjusted earnings of 51 cents a share, topping analysts' forecasts. Sales were $6.2 billion vs. $6.06 billion expected by analysts.

Cramer said that Starbucks CEO Kevin Johnson is “too bullish,” adding that he thinks that some things need to go right for Starbucks that includes having low COVID-19 cases and the right president for relations with China. He said that Johnson should be more cautious and right now he is taking the “wait and see” approach.

Alphabet Inc., AbbVie Inc., and Starbucks are key holdings in Jim Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.