Stock Market Today With Jim Cramer: Logitech Is a Winner

Jim Cramer discusses the latest stock market news including the antitrust lawsuit against Google as well as the future of both IBM and Logitech stocks.
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Stocks traded higher Tuesday as House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin narrowed some of their differences on a coronavirus relief package. 

The Dow Jones Industrial Average was up 291 points, or 1.03%, to 28,486, the S&P 500 rose 1.15% and the Nasdaq gained 1.11%.

TheStreet's Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about the antitrust lawsuit against Google as well as the future of both IBM and Logitech stocks

IBM: Buy Or Sell?

IBM  (IBM) - Get Report shares slumped lower Tuesday after the iconic computing group declined to provide a current-quarter sales forecast following Street-beating third-quarter earnings after the close of trading on Monday night.

Cramer said IBM's backers have stopped backing it. "The fundamental thesis here is that IBM had a lot of fast-growing businesses and it put Red Hat in with them and then it decided to split the company into fast and slow. But the fast-growing slowed dramatically, not the Red Hat but the rest of them and that was a disaster. We didn't expect that. I really feel that it's not a buying opportunity."

Logitech: Buy Or Sell?

Logitech  (LOGI) - Get Report posted blockbuster fiscal second-quarter earnings and sales and raised its full-year sales forecast amid a surge in demand for its gear and devices due to the pandemic.

Cramer said Logitech has the best stuff for people working at home and people gaming at home. "I love their stuff. It's unbelievably good. It's less expensive than the other guy. Its higher quality, less expensive, an unbeatable combo. As time goes on people recognize that Logitech is a big winner."

DoJ May Not Find Evidence Of Antitrust Behavior

The U.S. Department of Justice on Tuesday filed its long-awaited antitrust case against the tech giant Google  (GOOGL) - Get Report

Court filings show that 11 states attorneys general joined the lawsuit, while the DoJ said it has asked for 'structural relief as needed to cure any anticompetitive harm' in what may be the biggest U.S monopoly case in more than two decades. 

Cramer said one of the remedies is they could break the company up. "Because they think there are deals to be made with other parts of the company if you do business with Search. They could make it so that it was more obvious that someone paid for something in search. But they can't stop Search." 

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