Newell Brands (NWL) - Get Report had a remarkable quarter and can now be considered the 'new housing play', says TheStreet's Jim Cramer. The Atlanta-based parent company to brands such as Sharpie, Rubbermaid and Calphalon posted adjusted Q2 earnings of $0.78 a share, beating analysts' estimates of $0.72 a share. Revenue climbed 147.2 percent year-over-year to $3.86 billion from $1.56 billion, which was higher than Wall Street's expected $3.76 billion. The massive year-over-year climb in revenue is largely attributable to the acquired Jarden business.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.