Despite bullish early morning earnings from Bed Bath & Beyond and PepsiCo, stocks were mixed Thursday as Wall Street monitored lawmakers' efforts on crafting the fifth coronavirus aid package after several attempts to come to an agreement on a new stimulus bill.
Dow fell 0.19% while Nasdaq was up 0.59% and the S&P 500 rose 0.25%.
TheStreet's Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about stay at home stocks, software firm Asana and Ford.
Pepsi: Buy Or Sell?
Pepsi's PEP third-quarter sales grew by more than 5% as consumers bought more of its Tostitos products and pancake mixes. Net sales rose 5.3% to $18.09 billion beating analyst expectations. PepsiCo's stock rose 1.13% at last check.
Cramer said that Pepsi's stock performance on Thursday shows there is a revulsion towards companies that are considered 'stay-at-home' stocks. He disagreed with the trend.
Asana: Buy or Sell?
Shares of cloud company Asana (ASAN) - Get Report rose in its first day of trading on Wednesday after its direct listing on the New York Stock Exchange. The San Francisco company's co-founder and chief executive is Dustin Moskovitz, who is also a co-founder of Facebook.
Cramer said Asana has done well on its stock market debut despite declining revenue growth and weak gross margins.
Ford: Buy or Sell?
Ford Motor (F) - Get Report named John Lawler, 54, its chief financial officer on Thursday. Lawler had been chief executive of Ford Autonomous Vehicles and vice president of mobility partnerships. A day earlier Ford recalled more than 700,000 vehicles in North America due to a fault in their backup cameras.
Cramer said Ford needs to scale back its operations if it wants to become profitable.
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