The Dow has been mixed today despite being up today along with the S&P 500 and the Nasdaq. Strong results from an experimental coronavirus vaccine trial are helping give investors confidence to start putting money to work on, historically, one of the best days to trade stocks.
TheStreet's Katherine Ross discussed breaking news in the stock market on StreetLightning with Jim Cramer. Cramer spoke about buying Beyond Meat shares, Macy's earnings and Boeing's new CEO.
Beyond Meat Stock: Buy or Sell?
Beyond Meat shares were surging after news that the plant-based burgers would be sold in China through Alibaba's 'Freshhippo' food markets. The deal between the two groups comes days after being double downgraded by analysts at Barclays. Last week, McDonald's announced that it would not be renewing its plant-based burger trials with Beyond Meat.
Cramer believes the latest news of expansion into the Chinese market makes Beyond Meat shares a buy.
Macy's Stock: Buy or Sell?
The retail industry has been hit hard during the coronavirus pandemic. Companies that had not optimized their digital e-commerce platform prior to the quarantine lockdown were hit even harder as the most digitally savvy companies saw large increases in spending by customers. Macy's confirmed the first-quarter loss today when it reported its financials and TheStreet broke down how to trade the retail company now.
Cramer believes nobody in retail needs a vaccine more than Macy's and hopefully, today's Pfizer news is one step closer to the vaccine they need.
Boeing's New CEO
Life is never dull as the CEO of Boeing, especially when the company continues its turbulent news in 2020. Boeing shares started surging at the beginning of this week after the news that the FAA was approving testing of the 737 MAX. The good news lasted all of one day when Norwegian Air announced that it was canceling its orders and suing Boeing.
Cramer mentioned that if you're looking to buy Boeing, you have to look at the company long-term and he mentions what he wants to see from Boeing's new CEO
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