I have a not-so-fun fact for y'all this morning.
Dean Baker, senior economist at the Center for Economic and Policy Research, tweeted out a sobering statistic following jobless claims.
He said, "unemployment insurance claims still 130,000 higher than [the] worst week of the Great Recession."
The Labor Department reported that 793,000 Americans filed for first-time jobless benefits in the week ending Feb. 6, which is down from an upwardly revised 812,000 claims the week earlier. Economists polled by FactSet had expected claims of 757,000.
In Thursday's market breakdown, Jim Cramer talks semiconductors, Zillow (ZG) - Get Report, Bumble, Uber (UBER) - Get Report, PepsiCo (PEP) - Get Report, Mastercard (MA) - Get Report, Sonos (SONO) - Get Report and more:
"What do people want to do? They want to travel. They want to see their relatives," Cramer said.
Ready for a red hot IPO?
Bumble (BMBL) - Get Report priced its IPO at $43 a share, which is above the initial range of $37 to $39 a share. The company, which is focused on empowering women, will trade on the Nasdaq under ticker BMBL.
The company has, so far, raised around $2.15 billion.
Cramer said the stock is a buy at its debut as it has built a business of providing a safe place for dating. "It’s a gentle entrant into a business that is essentially an app," Cramer said.
Let's talk earnings.
PepsiCo (PEP) - Get Report reported net income of $1.85 billion, or $1.33 a share, compared with $1.77 billion, or $1.26 a share, a year ago. Excluding nonrecurring items, earnings were $1.47 a share, ahead of analysts' estimates of $1.46.
And revenue increased 8.8% to $22.5 billion, beating the FactSet consensus of $21.8 billion.
"We ended the year on a strong note with our global beverage business having accelerated while our global snacks and food business remained resilient in the fourth quarter," CEO Ramon Laguarta said in a statement.
Cramer said PepsiCo had an excellent quarter, but is boring compared to the Tilray's (TLRY) - Get Report of the world. However, Cramer said stocks like PepsiCo are critical to a balanced portfolio in a market rampant with speculation.
"You can own the specs, you can own the froth, as long as you own the Pepsi's," Cramer advised."
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.
Daniel Kuhn contributed reporting to this article
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