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“No one seems to care that Disney’s movies keep breaking records,” the “Mad Money” host said about its Avengers and Black Panther films. “Throw in the fact that the company’s been a voracious buyer of its own stock, and it’s downright puzzling, frankly, that this market only seems to focus on one thing: subscriber losses at ESPN.”
So Cramer called on technician Tim Collins, his colleague at RealMoney.com, to help him understand how Disney’s technical indicators were factoring into its share price.
And “as Collins sees it, there are few animals more unloved on Wall Street than Mickey Mouse,” Cramer said Tuesday. “So, on a not-so-hot day for the averages, I want to address one of the most unjustly overlooked stocks in the market.”
“The darned thing still gets no respect and it feels kind of stuck here,” he added before turning to Disney’s weekly chart.
“Here’s how I see today’s pullback: this entire market is getting a well-deserved breather, led by FANG, after a gigantic rally,” the “Mad Money” host said.
But Cramer pushed back on claims that FANG was outright dead. The tech stocks have simply “caught a cold” amid otherwise strengthening businesses, he argued.
“Within seconds, … we saw a flurry of articles about how there’s a slowdown in housing and even the great orange big-box chain couldn’t buck the trend,” Cramer said Tuesday.
Earlier, on CNBC’s “Squawk on the Street,” Cramer told investors to wait and hear what Home Depot’s management said before drawing conclusions about the home improvement giant.
Sure enough, when the post-earnings conference call began, Home Depot’s stock began to stabilize “as if the sellers said, wait a second, maybe we’re overreacting,” he said.
For more on why Cramer’s still positive on Home Depot, read his take here.
Foodservice equipment maker Welbilt is getting an “interesting” take on food delivery in its exclusive partnership with robotic pizza-making company Zume, Welbilt CEO Hubertus Muehlhaeuser told CNBC on Tuesday.
“In the past, we said that 50 percent of disposable income is spent on eating outside of the house. Today, we say prepared outside of the house, because delivery has taken off,” the CEO told Cramer in a “Mad Money” interview. “Zume is revolutionizing [the] delivery model.”
Zume, a California-based company that uses automated robots and humans to make pizza on the go in its delivery trucks, is trying to optimize the “last mile of delivery,” Muehlhaeuser told Cramer.
And with Welbilt’s kitchen equipment, Zume is not only redefining delivery, but creating a new platform for others to use, the CEO said.
“They want to establish that platform for other delivery services and also for other products,” he told Cramer. “You can bake, grill, fry on a truck, so [it’s a] great opportunity for us.”
CBRE Group President and CEO Bob Sulentic is seeing a trend emerge in the commercial real estate market that he hasn’t witnessed in decades.
“In my entire career, which is approaching 35 years now, we’ve never been this deep into an expansion and had so little vacancy in markets around the world,” Sulentic, whose company is the largest commercial real estate investment firm in the world, told Cramer on Tuesday.
Focusing on the New York real estate market, which has drawn some bearish criticism of late, Sulentic said that many of the new buildings are going up with buyers already on hand.
“That doesn’t mean there aren’t pockets where there’s some vacancy, but when you look at New York, you see all this new space that’s been added. Well, much of it’s been spoken for before it’s ever been built,” the CEO said.
“The amount of office space that’s planned to come online in New York over the next several years will only add 2 or 3 percent to the basis of office space. And, of course, you have some becoming antiquated along the way,” he told Cramer. “So I think things are generally in good shape.”
In Cramer’s lightning round, he fired off his take on callers’ favorite stocks:
Chesapeake Energy: “No. Just keep thinking. Do not keep buying, because that’s nat[ural] gas and we’ve got too much of that in this country.”
Spectra Energy: “It’s natural gas transit. People are worried about natural gas transit. If it were oil transit, I’d be two thumbs up, but right now, I’ve got to tell you, it’s got a 9 percent yield [and] it’s a little bit worrisome for me. I hope it can grow into that yield, but right now, I’m taking a pass.”
Disclosure: Cramer’s charitable trust owns shares of Facebook, Amazon and Alphabet.
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