Cramer First Hour -- WTI Still Below $77 -- July 25, 2024 -- IN PROGRESS

Locator: 48227INV. 

Disclaimer:

• usual disclaimer applies. Posted quickly; there will be typographical and content errors on this page.
• not investment advice.
• facts, factoids, opinions interspersed; not pointed out
• mostly comments from Cramer. Comments all paraphrased.
• not intended for readers; posted for archives for family members.
  

GDP: great report.

• link here.
• link here.
• CNBC.
• "considerably stronger than expected" -- incredible concerning the headwinds, the tight Fed, high interest rates, all the pundit negativity

Price cuts: the snowball is rolling downhill and gaining speed. Great news for JPow.

Ford: EVs

• InsideEVs, published last night, before earnings reported; link here.
• the EV narrative continues

Ford: top story at CNBC this morning (after the GDP story).

• will have stand-alone post later
• F plunges after 2Q24 earnings miss
• F: down 13.9% (24-hour change); now at open, down 17%;
  
• down 1.89
• trading at $11.78
• Quality #1: unexpected warranty losses
• I don't think I've heard more negative comments by Cramer on F first hour
• exception: one company last week, which I've now forgotten
• Cramer: "sometimes you just get had" -- with regard to his faith in Farley
• losing dollars on EVs:
• Farley says still a great report for Ford, and then asked on earnings call -- if great report, and F dropping, why isn't F announcing buybacks -- Farley's "cringe" answer -- we have better ways to deploy our capital (than buy our own stock)

In correction territory: mega-cap tech (the Magnificent 7).

The market reversal: historic! Not seen in decades.

Fed cut: chatter is now 50 basis points in September, not 25. If the Fed were to cut 50 points, it would mean economy is in deep trouble. 

• Cramer: unlikely to happen; would send absolutely wrong message

NBA:

• WBD failed, will now sue the NBA
• another Amazon win.
• had long been a TNT partnership 
• link here.
  

ServiceNow (NOW): up 7%; long interview with new CEO

• I know nothing about this company
• CEO mentioned the strong relationship with Nvidia
  

Southwest Airlines:

• will end 50-year history of "open seating"
• will now move to assigned seating, premium seat ($$$)
• joins the rest of the industry
• big bucks to be made

Edward Lifesciences absolutely crushed: down 25% at the open.

• their "one" product is not selling as well as they had expected

Cramer: consumers are fed up with high prices -- particularly with "French fries" -- now a metonym;

Cramer's "Mad Dash":

• IBM: up 4.5% on earnings; executed very, very well
• worst week since May
• sell in June, go away;

****************

Disclaimer Briefly
Reminder

• I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• The audience for my investment-related posts: for the grandchildren who will inherit the estate and will benefit by knowing my strategy in putting that estate together. My investment-related posts are not for others. But it's the easiest way to keep my grandchildren in the loop.
  
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
• Reminder: I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple.