Delta Air Lines (DAL) reported a 4.5% increase in traffic for June, below its previous estimate of 5% to 7%.
However, Cramer is not yet bearish on the industry, and only said the stock is taking a "breather," after a big run to the upside. His top pick is American Airlines (AAL).
Cramer then turned to Constellation Brands (STZ). The company reported a much stronger than expected top and bottom line earnings beat.
However, Cramer's focus was on Molson Coors Brewing Company (TAP). The stock has more room to the upside, despite the big run, because of continued consolidation in the industry, he reasoned.
- - Written by Bret Kenwell in Petoskey, Mich.