Jim Cramer Won't Press 'Buy Button' On This Stock, Calls Out Insurers: 'They Have No Idea What's Going On'
Portfolio Pulse from Avi Kapoor
Jim Cramer, on CNBC's 'Mad Money Lightning Round,' recommended buying Constellation Energy (CEG) and The Timken Company (TKR), but refrained from endorsing Chegg, Inc. (CHGG) due to competitive pressures from AI like ChatGPT. He expressed concerns about insurers, including UnitedHealth (UNH), stating they are in a 'massive reset' and 'have no idea what's going on.' Constellation Energy announced a $1 billion increase to its repurchase program. Goldman Sachs downgraded Chegg, and DA Davidson initiated coverage on Timken with a Buy rating and a $92 price target. UnitedHealth reported a net profit of $22.4 billion for FY2023 and beat Q4 revenue estimates.
January 29, 2024 | 2:16 pm
News sentiment analysis
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NEGATIVE IMPACT
Jim Cramer is hesitant to buy Chegg, Inc. due to competitive pressures, and Goldman Sachs downgraded the stock with a lower price target.
The downgrade by Goldman Sachs and Cramer's reluctance to endorse Chegg due to AI competition, such as ChatGPT, suggest a negative short-term impact on CHGG's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
Jim Cramer expressed concerns about insurers, including UnitedHealth, despite the company reporting strong profits and revenue for FY2023.
While UnitedHealth reported strong financial results, Cramer's comments about the uncertainty in the insurance industry could create mixed sentiment, leading to a neutral short-term impact on UNH's stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Jim Cramer recommended buying Constellation Energy and the company announced a $1 billion increase to its repurchase program.
Cramer's endorsement and the increased repurchase program are positive signals that could lead to a short-term uptick in CEG's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Jim Cramer likes The Timken Company, and DA Davidson initiated coverage with a Buy rating and a $92 price target.
Cramer's positive view on TKR, along with DA Davidson's Buy rating and high price target, could contribute to a short-term positive impact on the stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85