TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about retail earnings, Exxon Mobil and markets on Tuesday.
Exxon Mobil: Buy Or Sell?
On Monday, oil giant Exxon Mobil (XOM) said it will add activist investor Jeff Ubben to its board of directors. Former Comcast CFO Mike Angelakis was also named a non-executive member of the board.
"Their contributions will be valued as ExxonMobil advances plans to increase shareholder value by responsibly providing needed energy while playing a leadership role in the energy transition,” said CEO Darren Woods.
Cramer said Exxon is blunting ESG [environmental. social and governance] concerns by bringing in someone who is very focused on climate and Darren Woods is doing that. "That is a very smart thing. But I still don't think that Exxon is a buy."
Kohl's and Target Earnings
Cramer said Kohl's posted strong numbers compared to last year and the fact that Amazon (AMZN) is actually helping them is a good sign.
While discussing Target's earnings, Cramer said, "Target was valued as an essential retailer last year and it's not this year, even though, they say comparable sales rose at least 20%."
Markets on Tuesday
Cramer said we have a market in consolidation but the Nasdaq is not consolidating. "The Nasdaq is a little disconcerting because investors keep selling the same companies. They sell Nvidia (NVDA) endlessly because they think it's become a crypto situation. I disagree with that. Apple (AAPL) goes down very quickly and does not have support."