Stocks rose Monday as investors focused on the busiest week of earnings season and a Federal Reserve that is expected to leave key policy settings unchanged.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about what to expect from Tesla's earnings and others this week and Proofpoint's deal with PE firm Thoma Bravo.
Tesla: Buy Or Sell?
Tesla (TSLA) - Get Report was rising Monday ahead of its first-quarter earnings report that is expected to show a surge in revenue.
Tesla Chief Executive Elon Musk tweeted on Saturday that he will host an episode of Saturday Night Live on May 8.
Cramer said Tesla has spent some time in the wilderness after it was added to the S&P500. "It came right down. I think Tesla is going to have a very good story about China. They'll give us a good story about Europe. The numbers continue to great in America. I'd be hard-pressed to see whether he doesn't talk about solar. Solar could be good," Cramer added.
Earnings Season Expectations
The heart of earnings season has arrived with 35% of companies in the S&P 500 set to report results over the next five days, including many of the top tech names.
Cramer said he needs to see growth without inflation this earnings season. "Growth without too much emphasis on steel, plastic. lumber, those are the pressure points in the system. And they are not going away. But the shortage in semis might be going away," said Cramer.
Proofpoint: Buy Or Sell?
Cramer said Gary Steele [CEO] is getting 22 times the EBITDA which is just an extraordinary number and a lot of people thought this company is very overvalued. "It was difficult to turn this down. I know that Gary loved Proofpoint. Gary did very well for shareholders and I salute him," added Cramer.
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