Morning Bell With Jim Cramer: Uber Attempts Another Move

Jim Cramer shares stock market news including the Federal Reserve supporting restaurants, watching bank earnings, and the latest Uber acquisition talk.
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The Dow ended the day with a late surge to end the second quarter after mixed trading all day. It's hard to pinpoint what the catalyst was at the end of the second quarter, especially after Fed Chair Jerome Powell warned that the U.S. economy's recovery could hit a bump in the road if the rise in coronavirus cases isn't contained.

On Mad Money, Jim Cramer shares his list of what he calls 'COVID winners,' those companies that will survive and thrive, despite the resurgence of coronavirus.

TheStreet's Katherine Ross spoke with Cramer yesterday about how much support restaurants need from the Federal Reserve, watching bank earnings, and the latest Uber acquisition talk.

The Fed Needs To Support Restaurants

The hardest-hit businesses from the coronavirus pandemic are in the hospitality industry. Hotels, travel, tourist hot spots, theme parks, and restaurants may feel the worst effects of the quarantine shutdowns in several cities. For restaurants, it has forced them to adapt to the changing environment or shut down completely. Restaurants unfamiliar with takeout were forced to adapt overnight to ease the impending doom in the industry.

How can the Federal Reserve and Jay Powell help the restaurant industry? Cramer breaks down what Powell needs to do to help local eateries.

Investors Need to Watch the Bank Earnings

Wells Fargo broke rank with the rest of the banks yesterday when it decided to cut its dividend. This comes after the Federal Reserve capped bank dividends and suspended buybacks. Banks have not slashed its dividend in over 10 years, after the last economic crash.

Cramer is paying attention to the bank earnings to see if can investors any insight into how bad things have gotten since the coronavirus pandemic began.

Uber Stock: Buy or Sell?

Postmates is reportedly entering talks with Uber to be purchased by the ride-sharing company looking to expand its imprint in the food delivery space. It's not long ago that Uber was looking to purchase Grubhub before Grubhub was purchased by Just Eat. Investors were not pleased with the completed deal and TheStreet's Eric Jhonsa why.

Cramer talks about the latest acquisition talks that Uber is entering and what the company needs to do.