Jim Cramer Sees Bullish Momentum for GSK
On CNBC’s “Mad Money Lightning Round,” renowned stock picker Jim Cramer expressed his confidence in GSK plc (GSK). “I think GSK is going even higher than it is right now,” he said. “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. The company reached a confidential settlement with plaintiff David Browne, leading to the dismissal of his case, which was set for Feb. 20.
Cautious Stance on AST SpaceMobile and Kroger
In contrast, when asked about AST SpaceMobile, Inc. (ASTS), Cramer said, “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.” AST SpaceMobile, last month, announced the pricing of its $100 million public offering of Class A common stock.
Cramer recommended to hold off right now for The Kroger Co. (KR). “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,” he added. Kroger said Gary Millerchip has stepped down as Senior Vice President and CFO to assume an executive role at another public company. The company named Todd Foley as Interim CFO.
Jim Cramer’s Opinions on Other Stocks
The “Mad Money” host said Parker-Hannifin Corporation (PH) is a “remarkable” company. Parker-Hannifin recently reported better-than-expected second-quarter financial results and raised FY24 guidance.
When asked about BigCommerce Holdings, Inc. (BIGC), Cramer said, “No, we got Amazon (AMZN).” BigCommerce appointed Brent Bellm as Interim President, succeeding Steven Chung, effective Feb. 16, 2024.
Cramer also mentioned that he has no idea what Icahn Enterprises L.P. (IEP) really owns. “I will not recommend stocks on Mad Money when I do not know what they own.”
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.
