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Stock Market Today With Jim Cramer: Williams-Sonoma, Snowflake

Jim Cramer discusses the latest Williams-Sonoma earnings and the utility of Snowflake's services.

Stocks fell Thursday in a cautious session after explosions in Afghanistan killed a number of people and with investors hoping that a Federal Reserve symposium sheds some light on the central bank's plans for tapering stimulus.

Jim Cramer and TheStreet Senior Portfolio Analyst Jeff Marks talked about Williams-Sonoma and Snowflake.

Williams-Sonoma: Buy Or Sell?

Shares of Williams-Sonoma  (WSM) - Get Williams-Sonoma, Inc. Report surged to an all-time high after the home-furnishings retailer beat Wall Street's earnings forecasts and lifted its full-year sales outlook.

The San Francisco company also raised the dividend and approved a $1.25 billion share buyback plan.

Cramer said this was a quarter that showed off WSM's digital-first but not digital-all strategy:

"They were the first ones to go all digital. They were a catalog company. ... The story here is the home, when people want to redecorate their homes. ... They're going to West Elm, Pottery Barn. ... Williams-Sonoma has had a great quarter with a 98% increase in wedding registry because people are back getting married again. Very, very good."

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Cramer added that Williams-Sonoma and Etsy  (ETSY) - Get Etsy, Inc. Report are the two companies "people thought were going away" with the reopening that "turned out not to be the losers. They turned out to be winners."

Snowflake: Buy Or Sell?

Shares of Snowflake  (SNOW) - Get SNOWFLAKE, INC. Report rose after the data-analytics software company reported mixed second-quarter results.

Snowflake reported a more than doubling of second-quarter revenue and boosted its forecast for product sales.

Cramer said Snowflake is a great way to do targeted digital advertising for streaming companies like Peacock, owned by Comcast  (CMCSA) - Get Comcast Corporation Class A Report, or Disney+  (DIS) - Get Walt Disney Company Report. "It's one of the verticals. Media is a big vertical, [health care and finance also are big verticals]. But it augments, it doesn't replace, and it allows you to be able to target, and it's remarkable how much you can do with the data," he added.

None of these stocks are holdings in Jim Cramer's Action Alerts PLUS investing club. Want to be alerted before Cramer adds or removes stocks from the portfolio? Learn more now.