Stocks traded mixed late in the Thursday session as investors looked to tech shares amid worries that tighter restrictions to control the spread of the coronavirus will lead to further economic damage.
TheStreet's Katherine Ross discussed breaking news in the stock market. Cramer spoke about the earnings of Nvidia, Macy's and L Brands.
Nvidia: Buy Or Sell?
On Wednesday, chipmaker Nvidia (NVDA) - Get Report reported October (fiscal third quarter) results that topped analyst estimates for the period. The Santa Clara-based company reported third-quarter revenue of $4.73 billion, a 57% year over year increase, with earnings per share of $2.91.
Cramer said Nvidia owns data, gaming, auto and inference. "The stuff they are doing is extraordinary. There is an overwhelming sense that if you're Amazon, Google or Microsoft you have to use Nvidia's chips they are faster, better, stronger, can take more data. Nvidia is a legendary stock for cleaning up the sellers before it advances."
Macy's: Buy Or Sell?
Macy's (M) - Get Report posted a narrower-than-expected third-quarter loss Thursday and noted that it continues to monitor the impact of the coronavirus pandemic on its business heading into the final months of the year. Same-store sales were down 21% from last year, while digital revenues jumped 27% thanks to the retailer's focus and investment in online channels.
Cramer said Macy's can recover. "Their EBITDA was very good. It wasn't a great quarter but it was good enough."
L Brands: Buy Or Sell?
L Brands (LB) - Get Report the owner of Bath & Body Works and Victoria’s Secret swung to a third-quarter profit, highlighted by a 55% jump in sales of personal-hygiene products including soap and hand sanitizer that helped offset a drop in sales of clothing and lingerie.
Cramer said he liked the L Brands stock very much. "Right now it's up too much. I recommended it 18 points ago. I can't say now is the time to buy."
Nvidia is a key holding 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.