Stocks extended gains Tuesday following the Food and Drug Administration's full approval for the COVID-19 vaccine from Pfizer (PFE) - Get Pfizer Inc. Report and BioNTech (BNTX) - Get BioNTech SE Sponsored ADR 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?
Shares of Palo Alto Networks (PANW) - Get Palo Alto Networks, Inc. Report rose Tuesday after the cybersecurity company posted better-than-expected fourth-quarter earnings while boosting its 2022 profit outlook.
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 Union Pacific Corporation Report and United Parcel Service (UPS) - Get United Parcel Service, Inc. Class B 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 Boeing Company 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.