- CNBC’s Jim Cramer on Wednesday highlighted companies he believes emerged from earnings season as winners.
- These companies include chipmaker AMD and industry names Trane Technologies and Eaton.
CNBC’s Jim Cramer on Wednesday told investors which companies he believes have distinguished themselves during earnings season.
“The problem, as I see it, is that we haven’t really pointed out which companies have really differentiated themselves this earnings season, because we’ve been so focused on the wild daily fluctuations in the market,” he said. “It stops now, right here. Tonight, I’m going to tell you who did what for us lately and what happened when they did it.”
Cramer first pointed to chipmaker AMD, whose CEO Lisa Su said this week that revenue for graphics processors used in data centers is poised to rise thanks to the company’s use of artificial intelligence. AMD finished Wednesday up about 10%, and Cramer said he thinks it may have a chance to become a serious contender in the AI-powered graphics chip market. He added that Su’s confirmation sent other stocks in the “dying AI group” higher, including Nvidia, Microsoft, Amazon, ServiceNow and Adobe.
He also cited the industry names Trane Technologies and Eaton. Once known in the HVAC space, Trane now positions itself as a sustainability solutions organization. The stock jumped just over 12% at Wednesday’s close, boosted by an earnings report that showed strong organic revenue growth.
Elsewhere, energy management company Eaton beat analysts’ quarterly earnings estimates, reporting higher demand for its electrical components and equipment. It rose more than 3% on Wednesday.
“Now, remember, the practice of rewarding companies that beat the numbers has only worked inconsistently recently, because we’ve been so worried about interest rates.
“When long rates go up, no one cares about the profits I just mentioned,” Cramer said. “But we didn’t have any worries today because the Fed just spoke and the Treasury just rolled out a great bond issuance schedule.”
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Disclaimer CNBC Investing Club Charitable Trust owns shares in Nvidia, Amazon and Microsoft
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