It's almost Friday...
Jim Cramer weighs in on Nordstrom's and Dick's quarters and his latest thoughts on oil.
Real Money Stock of the Day Nordstrom reported earnings of 90 cents a share on revenue of $3.87 billion. Analysts were expecting the company to report earnings of 77 cents a share on revenue of $3.92 billion.
For the second time this year, Nordstrom lowered its full-year earnings expectations, this time to $3.25 to $3.50 a share.
The guidance cut follows one in May, where the company cut its full-year estimate to between $3.25 and $3.65 a share from $3.65 to $3.90. Wall Street now expects the company to report earnings of $3.28 a share.
Dick's Sporting Goods reported net income of $112.5 million, or $1.26 per share. Analysts polled by FactSet were expecting an EPS of $1.21.
Let's Talk Oil...
Cramer's got some thoughts about oil.
He penned a Real Money column early Thursday morning covering the oil sector.
"It's tough to resist buying the stock of Chevron (CVX) - Get Report when its big projects are hitting paydirt and CEO Mike Wirth is at the helm trying to get Permian on the cheap. The major with an almost 7% yield, BP BP, the one that is growing the fastest and most sustainably, is a terrible holding -- as we know all too well from the charitable trust, something you can follow the picks from by joining the Action Alerts Plus club," said Cramer.
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