Stocks rose Friday as investors looked to strong economic data and assessed a report that said President Joe Biden would propose raising taxes on wealthy investors.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about how to trade Intel and Boston Beer after earnings and markets on Friday.
Intel: Buy Or Sell?
Intel (INTC) - Get Intel Corporation Report shares dropped Friday after the semiconductor giant’s new chief executive, Pat Gelsinger, said a global chip-supply shortage could stretch two more years. The company posted weaker quarterly earnings.
Cramer said he does not want to own Intel stock because it has fallen behind Advanced Micro Devices (AMD) - Get Advanced Micro Devices Inc. Report. "I know that Pat Gelsinger [CEO] was anxious to say that we have a great history and we're much better than other times. My problem with that is AMD is super better in comparison," he added.
Boston Beer: Buy Or Sell?
Shares of Boston Beer (SAM) - Get Boston Beer Company Inc. (The) Report traded higher Friday after the Sam Adams brewer beat top and bottom-line estimates by a wide margin for its latest quarter. Boston Beer’s results were helped by a jump in sales for its Truly hard seltzer brand.
Cramer said the hard seltzer numbers were extraordinary with 28% growth. "They are taking share. There is a nice short position in Boston Beer. The problem is the stock is at $1258, people don't want to do that. So, they buy deep of the money calls or they buy a sliver. But it is worth buying," he added.
Cramer said everyone keeps saying there is a lot of inflation but the bond markets say otherwise. "Interest rates are up today but they are very measured. And I think what's mattering are the earnings which have been very good," he said.