Stock futures mostly traded higher on Thursday after solid gains and the Federal Reserve said the economy was making progress, but there was still a long way to go before the central bank began to unwind stimulus.
Cramer on alphabet: ‘battle to contain enthusiasm’
Alphabet reported strong results from a recovery quarter that beat the company’s results from a year ago and surpassed analyst estimates.
“My sources at the company indicate they struggled to contain their enthusiasm,” Cramer said. “That it was such a great quarter of an hour.”
Cramer said Google Search, the company’s largest money maker, was “astonishing” as revenue rose to $35.85 billion, from $21.32 billion a year ago. Total ad revenue, including YouTube and other streams, was $50.44 billion.
“For the fraction of the cost of TV,” Cramer said of YouTube, “you can reach 70 percent of the people who don’t have TV.”
Cramer said the stock will go down “and then the bears will say travel will go down…because of the delta variant and maybe the other letters all the way to omega.”
“So you can always make up a story about why a stock is falling,” he said. “It’s very hard to disprove when what you’re really seeing is a group movement against technology.”
Cramer about Boeing: ‘Much stronger than we thought’
Boeing (BA) – Get Report posted its first quarterly profit in more than two years, helped by the recovery from the pandemic in commercial aviation.
“What I see from Boeing is a much stronger Boeing than we thought,” Cramer said.
Boeing said its current order book fell to $363 billion in the quarter, but noted commercial airlines’ share rose to $285 billion on the back of 180 net new orders.
“China is actually in the process of certifying the 737,” Cramer said. “There is incredible demand for the 737. We will be traveling a lot after we take down COVID.”
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