Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Raymond James Financial, Inc. (NYSE: RJF) is now valued more highly than JPMorgan Chase & Co. (NYSE: JPM), according to Jim Cramer. "So, I’m going to have to say, it’s too late, we missed it," he said. "Let’s find the next one."
Raymond James Financial said as part of its multi-year succession planning process, effective immediately, CFO Paul Shoukry is named president of the firm.
Cramer, on CNBC’s "Mad Money Lightning Round," recommended buying Arm Holdings plc (NASDAQ: ARM).
Intel and Arm signed a MoU to provide essential IP & manufacturing support for startups developing devices and servers built on ARM-based SoCs & made by Intel Foundry.
When asked about Unity Software Inc. (NYSE: U), he said, "I would have told you to sell the stock. But, you know what, you can’t anymore. Why? Because Jim Whitehurst is now in charge, and Whitehurst is a winner. I am a buyer, I’ve changed my mind on the stock because he’s running it."
On March 7, Unity Software inked a new partnership with Mazda Motor Corp to develop a next-generation in-cabin car experience that will deliver a seamless on-road experience for drivers.
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The "Mad Money" host said he is very bullish on Uber Technologies, Inc. (NYSE: UBER).
Uber reportedly agreed to pay A$271.8 million ($178 million) for a settlement of a lawsuit by Australian taxi operators and drivers.
When asked about Comstock Resources, Inc. (NYSE: CRK), he said, "I just think there’s so many other better there, I’m going to have to refer you to get to Coterra (NYSE: CTRA), which is just a better situation."
On March 20, Comstock Resources said majority shareholder Jerry Jones agreed to make an additional $100.45 million equity investment in the company.
Cramer said he is not recommending to buy General Electric Company (NYSE: GE). However, he added, "I can tell you to hold it, if it drops down, buy more. But I can’t tell you to sell it, it’s too good."
On March 7, General Electric said that GE Aerospace reaffirmed its guidance, presenting a longer-term financial outlook, including achieving operating profit worth $10 billion in 2028.
Cramer said he has been hard on Teva Pharmaceutical Industries Limited (NYSE: TEVA) because he likes Lilly (NYSE: LLY), but the Teva situation is improving, and it’s "ridiculously inexpensive." He added, "They actually have some good scientists there. So, I’m not knocking Teva anymore. As a matter of fact, I’m going to go in on Teva."
On March 8, JPMorgan analyst Chris Schott upgraded Teva from Underweight to Neutral and announced a $14 price target.
Cramer recommended buying Lilly instead of Novo Nordisk A/S (NYSE: NVO) because Lilly’s "going to have, in the next three months, some very good news on, I think, it’s anti-dementia drug."
Novo Nordisk is delving into artificial intelligence. Backed by the Novo Nordisk Foundation, Eviden, a French computing company, is set to construct a supercomputer leveraging Nvidia’s AI technology.
"Some people say I killed SoundHound because at 9 I said I wouldn’t buy it. So, I didn’t mean to kill it, but at 6, I won’t buy it either, Cramer said about SoundHound AI, Inc. (NASDAQ: SOUN).
On March 20, Cantor Fitzgerald analyst Brett Knoblauch downgraded SoundHound AI from Overweight to Underweight and lowered the price target from $5.8 to $4.9.
Price Action:
- Shares of Raymond James Financial fell 0.4% to close at $125.59 on Friday.
- SoundHound shares fell 8.1% to close at $6.14.
- Novo Nordisk shares fell 0.1% to settle at $128.76 on Friday.
- Teva shares gained 1% to close at $13.89.
- General Electric shares fell 0.8% to settle at $175.15.
- JPMorgan fell 1.2% to close at $196.62 on Friday.
- Arm shares gained 0.4% to settle at $134.15.
- Unity Software shares fell 2.1% to settle at $26.99 on Friday.
- Comstock Resources shares gained 0.5% to close at $8.40 on Friday.
- Uber shares fell 0.02% to close at $80.23 on Friday.
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