TheStreet’s Jim Cramer commented on United Airlines (UAL) and JetBlue (JBLU) on Tuesday from the floor of the New York Stock Exchange. JetBlue reported a drop in unit revenue and higher capacity, and Cramer pointed out that the airline group trades on capacity. ‘If capacity is being added, you can’t own the stocks. Not right now, maybe lower,’ said Cramer, who’s portfolio manager of Action Alerts PLUS. Cramer also commented on word of an activist shakeup at United Airlines, saying investors should give United CEO Oscar Munoz ‘a break.’ Cramer also commented on the pullback in shares of Nike (NKE), saying he thinks it’s just profit taking. Cramer discussed Gilead (GILD) and several other biotech stocks, and said he likes Bristol Myers (BMY) less at $70 a share. But he added that investors should buy Eli Lilly (LLY).
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.