Another day, another earnings report.
Jim Cramer explains why he wrote that billionaires Ray Dalio and Jeffrey Gundlach are "smarter" than Cramer. He's also got some thoughts on Alphabet (GOOGL) - Get Alphabet Inc. Class A Report and Merck's (MRK) - Get Merck & Co., Inc. Report earnings.
What's Going on With the Billionaires?
Cramer has some thoughts on billionaires.
"Billionaire hedge fund manager Ray Dalio is much smarter than I am. He's convinced that central banks are running out of ammo and there will be little to no hope to avoid an ideological struggle that, to me, says sell all stocks. You can gain zero confidence that it's worth owning stocks if you read what he said just now at an investment forum in Saudi Arabia. Whatever you have now, that's all you are going to have," wrote Cramer in his daily column over on Real Money. "Billionaire Jeffrey Gundlach is smarter than me. On March 12 he said we are in a bear market and the stock market could go negative in 2019."
If billionaires are actually smarter than Cramer, as he proclaims, should investors listen to billionaires when they're ringing the doomsday alarms?
Let's talk about Real Money Stock of the Day Alphabet's earnings, which reported earnings after the bell Monday.
The company reported that earnings came in at $10.12 per share, down 22.5% from the same period last year and shy of the Street consensus forecast of $12.42 per share traffic acquisition costs rose 13.8% to $7.49 billion and total expenses rose 25% to a record $31.3 billion.
That figure clouded a solid reading on revenues, which rose 22% on a constant-currency basis to $40.5 billion, topping analysts' estimate of $40.17 billion, reported TheStreet's Martin Baccardax.
Merck reported non-GAAP earnings that came in at $1.51 per share, beating the Street consensus of $1.24 per share. Keytruda sales, according to Merck, surged 62% to $3.1 billion.
Looking into 2019, Merck said it will narrow and raise its full-year earnings forecast to a range of $5.12 to $5.17 per share, ahead of the Refinitiv consensus of $4.92 per share.
"We achieved another quarter of strong revenue and earnings growth as we continue to realize the benefits of our sustained investment in research and development and our focus on commercial execution," said CEO Ken Frazier. "We are confident that the investments we are making now will allow us to convert cutting-edge science into medicines and vaccines of great benefit to patients and value to shareholders."
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