During the "Mad Money" Lightning Round on Friday, Jim Cramer went bullish on
. The company, which manufactures devices used to control gases, liquids and electricity, is in Cramer's good graces since he bought even more shares for his charitable trust.
In the beginning of May, the company announced that its first quarter net income fell 32% year or year, to $373 million, or 49 cents per share, from $547 million, or 69 cents per share. Revenue also dropped to $5.09 billion, down 16%.
But Emerson made even more stunning news last week when it reported that its order rates plummeted for April. The bloodbath of an order detail showed that the company had "seen a sequential deterioration in our underlying orders from the month of March to April, and believe orders are still reflecting a volatile economic environment where customers continue to reduce inventory, backlogs and business spending levels," according to a release.
It went on to say that orders were down 25%, excluding a negative 8% due to currency impact, and were down 30 to 35% overall.
Not to be dissuaded -- and saying many were "intimidated" by the shortfall -- Cramer still gave a buy on the stock.
Shares today jumped following the news that an Emerson subsidiary won a big automation contract. Emerson Process Management, a company that aids in business automation processes for industrial companies, was picked by Lonza Group, a Swiss-based manufacturer for the biotech industry, to help create and design a new $350 million biopharmaceutical plant in Singapore.
Shares were changing hands up 3.4%, or $1.09, settling at $33.25 by the close.
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