Jim Cramer Confident in GSK plc, Questions AST SpaceMobile
During CNBC’s “Mad Money Lightning Round,” Jim Cramer expressed confidence in GSK plc. He stated, “I think GSK is going even higher than it is right now. It’s been a terrific winner of late.”
GSK recently resolved a U.S. lawsuit concerning its heartburn medicine Zantac shortly before the scheduled trial in California. This settlement led to the dismissal of the case, set for Feb. 20.
However, when asked about AST SpaceMobile, Inc., Cramer expressed skepticism, saying, “I don’t see any way shape or form that they’re going to be making money, so I’m going to have to hold off that one.” This came after AST SpaceMobile announced a $100 million public offering of Class A common stock last month.
Kroger Stock Raises Concern Following CFO Transition
Jim Cramer recommended caution with The Kroger Co. due to recent developments. He said, “Normally I would say we’re fine with Kroger, but the CFO just quit. And I got to find out what the heck is going on.”
Kroger announced that its Senior Vice President and CFO, Gary Millerchip, has stepped down to assume an executive role at another public company. Todd Foley has been named Interim CFO.
Parker-Hannifin Praised, BigCommerce and Icahn Enterprises Raised Questions
Cramer commended Parker-Hannifin Corporation for its recent strong performance. He stated that the company is “remarkable” following better-than-expected second-quarter financial results and an increase in FY24 guidance.
Conversely, when asked about BigCommerce Holdings, Inc., Cramer declined enthusiasm, stating, “No, we got Amazon.” BigCommerce recently appointed Brent Bellm as Interim President, succeeding Steven Chung.
Jim Cramer also expressed uncertainty about Icahn Enterprises L.P., stating, “I have no idea what Icahn Enterprises really owns. I will not recommend stocks on Mad Money when I do not know what they own.”
Stock Performance
Price Action:
- Shares of Icahn Enterprises rose 1.3% to close at $18.62 on Monday.
- BigCommerce shares fell 4.4% to $7.98 on Monday.
- Parker-Hannifin shares fell 0.3% to settle at $508.87 during Monday’s session.
- Shares of Kroger fell 0.3% to close at $45.99 on Monday.
- AST SpaceMobile shares fell 2.5% to settle at $2.77.
- Shares of GSK gained 2.1% to close at $41.57 on Monday.
