Dow futures extend gains on vaccine hopes, taking bond and gold prices lower as investors rotate into beaten-down value stocks.
In the last episode of Mad Money, Jim Cramer told investors not to get caught in the confusing cross-currents of this stock market, The old normal is slowly dying, but the new normal struggles to be born, Cramer said, and that means more turbulent times ahead for Wall Street.
TheStreet's Katherine Ross and Cramer are talking about buying Boeing and Honeywell stocks and Beyond Meat earnings.
Boeing Stock: Buy or Sell?
Reuters reported earlier this week that the Federal Aviation Administration is in the final stages of its approval process for the workhorse aircraft, which was grounded in the spring of 2019 following fatal crashes in Indonesia and Ethiopia that killed 346 people, adding late Monday that the final nod could come on November 18.
Cramer said that he sees Boeing moving up a lot and “this is the one to buy,” because the 737 MAX will get many orders. More “importantly” the presence of a vaccine and the possibility that everyone will take it under president-elect Joe Biden will make aerospace more active again.
Beyond Meat Stock: Buy or Sell?
Beyond Meat (BYND) - Get Report shares, a plant-based food company, dropped almost 30% after hours Monday after the company reported third-quarter results that fell well short of analyst estimates for the period.
The El Segundo, Calif.-based company reported net revenues of $94.4 million and a loss of 28 cents per share. Analysts were expecting revenue of $132.81 million and earnings of 5 cents per share.
Cramer said that Beyond Meat CEO Ethan Brown “gobsmacked” investors as he said business “was really bad”, but the company has a partnership now with Pizza Hut where they will be making a sausage pizza. He added that Beyond Meat likes to be branded within the organization.
Honeywell Stock: Buy or Sell?
Honeywell (HON) - Get Report posted third-quarter adjusted earnings in late October, beating analysts’ forecasts and sales ahead of predictions as double-digit growth in its defense and space, warehouse automation and PPE products and services offset a drop in aerospace revenue.
The company also reinstated guidance for its fourth quarter and full-year amid expectations that the worst effects of the pandemic have passed.
Cramer said that Honeywell could go $210 or $215 in case investors are wondering at what level should they buy the stock.
Boeing and Honeywell stocks are 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.