NEW YORK (TheStreet) -- Walgreen (WAG) missed earnings per share estimates of 91 cents by 1 cent, on in-line revenue. However, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, noted the company "gave a very optimistic read for next year."
He said if investors thought the market was "rolling over" they wouldn't care about optimism for next year. Instead, they would only focus on the quarter in which the company just missed estimates. WAG is currently up 4% to $67.
Turning to CSX Corp. (CSX), Bank of America suggests coal has bottomed, which would be good for the railroad company. Cramer said Michael Ward, CEO of CSX, told him the same thing during a recent airing of CNBC's "Mad Money."
Cramer added that coal prices have become a less-relevant factor because they have sunk so low. He concludes the railroad stocks can move higher.- - Written by Bret Kenwell in Petoskey, Mich.