'Welcome Back To A Very Skittish Market,' Says Jim Cramer, Highlighting Importance Of Company Guidance Amid Volatile Market
Portfolio Pulse from Benzinga Neuro
Jim Cramer emphasized the importance of company guidance in the current volatile market, noting that stocks like Walt Disney Co (DIS), Datadog Inc (DDOG), Uber Technologies Inc (UBER), and Upstart Holdings Inc (UPST) saw declines due to less-than-ideal forecasts. Despite strong quarterly results, these companies' stocks suffered after providing soft guidance, with Disney's shares dropping about 10% post-earnings call. Cramer suggests buying these stocks if the Fed cuts interest rates but highlights the current market's focus on future guidance over past performance.
May 09, 2024 | 5:35 am
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Datadog's stock experienced a decline following the company's earnings call, which provided less-than-ideal future guidance.
Datadog's stock decline is a result of the market's reaction to the company's future guidance, underscoring the importance of forward-looking statements in the current volatile market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Disney's stock dropped about 10% after providing soft guidance on future earnings, despite strong quarterly results.
Disney's significant stock drop is directly attributed to the company's soft guidance, highlighting the market's current sensitivity to future earnings forecasts over past performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Uber Technologies Inc saw its stock price decline after issuing guidance that did not meet market expectations, despite reporting strong earnings.
Uber's stock price drop is linked to the market's negative response to its future earnings guidance, emphasizing the current emphasis on what companies project rather than what they have achieved.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Upstart Holdings Inc's stock declined after the company provided future guidance that failed to excite investors, despite positive quarterly earnings.
Upstart's stock decline can be attributed to the market's reaction to its future earnings guidance, which did not meet investor expectations, highlighting the market's focus on future prospects.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80