Stocks extended gains Tuesday following the Food and Drug Administration's full approval for the COVID-19 vaccine from Pfizer (PFE) - Get Free Report and BioNTech (BNTX) - Get Free Report and as strong earnings boost sentiment.
Jim Cramer and TheStreet Senior Portfolio Analyst Jeff Marks talked about Palo Alto Networks, economic-growth stocks to buy and Boeing.
Palo Alto Networks: Buy Or Sell?
Cramer said Palo Alto "never lost its leadership in firewall, added a bunch of companies that make it more secure and got a $100 million contract."
"Don't buy the other cybersecurity stocks because of Palo Alto going up. Palo Alto is going up because it's taken share.
He added that Palo Alto Networks Chief Executive Nikesh Arora was one of the first people who told him that the hybrid economy was coming.
"I laughed but I went with it hard because he [Arora] said this thing is not going away. And everyone is going to work at home and we're going to have to build up security because that's a really big vulnerability point. So, these other guys who were just protecting the cloud missed the boat," he added.
Cramer said Palo Alto had a "thoughtful approach" to people working from home, people working in central offices and people sending things to the cloud.
Cramer reiterated that Monday was an economic-growth rally and he recommended investors buy stocks like Union Pacific (UNP) - Get Free Report and United Parcel Service (UPS) - Get Free Report. "There's plenty to buy that's down big, if you really believe that we're going to have enhanced economic activity," he said.
Boeing: Buy Or Sell?
The Federal Aviation Administration will launch a review of how Boeing (BA) - Get Free Report employees handle safety matters on the agency’s behalf after some company engineers said they face undue pressure, The Wall Street Journal reported, citing an agency letter and people familiar with the matter.
Cramer said he expected Boeing to be down today but it's not and that's "very encouraging."
"Because it says, look, maybe there are issues involving disgruntled people, unions who are angry, it's been a nightmare. So, I'm quite heartened that it's up. That's a very good sign," he added.