It's almost Friday...
Jim Cramer's weighing in on oil and how it's impacting the markets, his takeaway from Lululemon's (LULU - Get Report) earnings and what Tyson's (TSN - Get Report) push into meatless products means for Beyond Meat (BYND) .
Oil and the Markets
Early Thursday, two shipping tankers in the Gulf of Oman were reportedly attacked.
While neither of the tankers were reported to be carrying oil at the time of the attacks, which were serious enough to evacuate both ships and call in support from the U.S. Navy's nearby Fifth Fleet, the incidents nonetheless escalated tensions in the region and echoed similar disruptions on Saudi oil tankers in mid-March. Around a fifth of the world's oil passes through the Strait, which separates the Persian Gulf states from Iran and the epicenter of military tensions between Washington and Tehran, each year, reported TheStreet's Martin Baccardax.
Oil prices rebounded after the attacks were reported.
Does the oil rebound mean that the market should expect an up day? Here's what Cramer thinks:
Real Money Stock of the Day Lululemon Athletica released earnings after the bell Wednesday.
Lululemon earned 74 cents a share in the period, beating Wall Street forecasts by 3 cents. Revenue of $782.3 million rose 20% from a year earlier and topped estimates of $756 million. Comparable-store sales rose 6%.
And, on the conference call, management brought up tariffs a handful of times, so what does that mean for buyers of the athletic apparel?
Tyson vs. Beyond Meat
Tyson announced that it was planning on releasing a meatless burger and nuggets Thursday morning.
We're expanding our position as a global protein leader to meet growing demand for plant-based protein with our new Raised & Rooted plant-based nuggets and blended patties. We're #RaisingExpectations for just how good plant protein can taste. Learn more https://t.co/EEdnG0ByYh pic.twitter.com/wmqiyPu5pt— Tyson Foods (@TysonFoods) June 13, 2019
The push into meatless products comes months after Tyson pulled out its 6.5% stake in Beyond Meat.
Will investors change their tune and go back to Tyson now that it's an active player in the meatless space?