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 ASANA, INC. 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 Ford Motor Company 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.
Pepsi stock 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.