Benzinga - by Avi Kapoor, Benzinga Staff Writer.
On CNBC's “Mad Money Lightning Round,” Jim Cramer said he is “struggling” with Tesla Inc (NASDAQ:TSLA). Shares of the electric vehicle (EV) company settled lower on Tuesday on reports that it will temporarily shut down production in Grünheide.
Additionally, the company’s April sales of China-made vehicles reportedly fell 18% year over year.
Cramer also said he likes Caterpillar (NYSE:CAT).
On April 25, Caterpillar reported a first-quarter fiscal 2024 revenue of $15.8 billion, a slight decrease of 0.4% year-over-year, missing the consensus of $16.216 billion. CAT’s adjusted earnings of $5.60 per share, compared to $4.91 a year ago, topped the consensus of $5.14, according to data from Benzinga Pro.
Cramer said he doesn't know how to value C3.ai, Inc. (NYSE:AI) as they “lose a lot of money. So I'm going to take a hard pass AI.”
C3 AI is expected to issue its financial results for the fiscal fourth quarter and full fiscal year 2024, after the closing bell on Wednesday, May 29.
“I like that conference call very, very much,” Cramer said when asked about Palantir Technologies Inc. (NYSE:PLTR). “I say not to worry, that company is a good company to own right here, right now.”
On May 6, Palantir said first-quarter revenue increased 21% year-over-year to $634 million, which beat the consensus estimate of $625.431 million, according to Benzinga Pro. The company reported adjusted earnings of 8 cents per share, which was in line with analyst estimates.
The “Mad Money” host said he likes CME Group Inc (NASDAQ:CME) “very, very much” and recommended buying the same.
On April 24, CME Group posted better-than-expected earnings and sales results for its first quarter.
Price Action:
- Caterpillar shares gained 0.9% to settle at $345.00 on Tuesday.
- C3.ai shares fell 0.1% to close at $24.76.
- CME Group shares gained 0.2% to settle at $208.34.
- Palantir shares dipped 15.1% to close at $21.40 on Tuesday.
- Tesla shares fell 3.8% to settle at $177.81 on Tuesday.
Image: Tesla
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