Benzinga - by Avi Kapoor, Benzinga Staff Writer.
On CNBC’s "Mad Money Lightning Round," Jim Cramer said he likes MPLX LP (NYSE: MPLX) very much, adding, "That’s a very good situation."
MPLX recently reported better-than-expected results for its fourth quarter. The company posted earnings of $1.10 per share, beating expectations of 94 cents per share. Its sales came in at $2.97 billion, versus market estimates of $2.85 billion, according to data from Benzinga Pro.
"We’re going to let these stocks come in a little here," Cramer said when asked about Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM). "We cannot be so eager to buy the first dip."
Taiwan Semi recently clocked a 7.9% year-on-year revenue growth in January 2024 to NT$215.79 billion ($6.9 billion). The critical Apple and Nvidia supplier experienced a sales increase in January, driven by strong demand for AI chips, which helped counterbalance the ongoing decline in consumer electronics, Bloomberg reported.
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The "Mad Money" host recommended to "ring the register" on Celestica Inc. (NYSE: CLS). "You’re literally going to sell one-third of it. Celestica is a very dicey situation," he added.
Celestica recently reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates. The company also appointed Kulvinder (Kelly) Ahuja to its Board of Directors.
Price Action:
- Shares of MPLX gained 0.7% to close at $39.32 on Tuesday.
- Taiwan Semiconductor shares fell 1.1% to settle at $125.33.
- Celestica shares fell 5.2% to settle at $37.46 on Tuesday.
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