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Not all earnings beats are created equal, Jim Cramer told his Mad Money viewers Tuesday, some are a lot more equal than others. That's why the number and magnitude of earnings beats can control the entire direction of the markets on a given day.
Cramer said today's biggest earnings beat was Burlington Stores (BURL) , which has a history of beating expectations and raising guidance, and didn't disappoint today, sending shares up 15.9%. Burlington's earnings were so good, Cramer ranked it up there with TJX Stores (TJX) , Ross Stores (ROST) and Ulta Beauty (ULTA) .
Another earnings beat came from Analog Devices (ADI) , a semiconductor that's underappreciated by analysts but is following in the path of Broadcom (AVGO) and NXP Semiconductor (NXPI) and diversifying itself into a powerhouse.
Cramer also highlighted upside surprises from Dollar Tree (DLTR) , which rose 8.1% on the day, and Cracker Barrel (CBRL) , up 5.7%. He said both of these companies had lowered expectations earlier in the year but then came roaring back.
Finally, Signet Jewelers (SIG) reported earnings that were not as negative as everyone expected, which was a surprise, as were the earnings from Palo Alto Networks (PANW) , which fell 13% on the day after the company reported results that were worse than expected.
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