Jim Cramer Says Tyler Has 'A Stellar Reputation,' Won't Overlook Taiwan Semiconductor 'Political Risk'

Author: Avi Kapoor | August 02, 2024 08:42am

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Wells Fargo & Company (NYSE:WFC) is a buy right here.

On July 23, the San Francisco-based company announced a 14% increase in quarterly dividend to 40 cents from 35 cents per share.

Tyler Technologies, Inc. (NYSE:TYL) is a “really good company with a stellar reputation,” he said.

On July 24, Tyler Technologies reported better-than-expected second-quarter adjusted EPS and sales.

“When we see parabolic moves, we cut our position in half, we let the rest run,” Cramer said when asked about Lumen Technologies, Inc. (NYSE:LUMN).

Lumen is set to release 2024 fiscal year second quarter earnings on Aug. 6.

The “Mad Money” host said there is a political risk in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). “I am not going to overlook the political risk, but I can tell you it's a great company,” he added.

On July 18, Taiwan Semiconductor Manufacturing reported better-than-expected second-quarter earnings.

“That's a dice roll,” Cramer said about CEMEX, S.A.B. de C.V. (NYSE:CX). “I have no conviction in that company whatsoever right now.”

On July 25, Cemex posted weaker-than-expected quarterly results.

Price Action:

• Wells Fargo shares fell 4.2% to settle at $56.88 on Thursday.
• Taiwan Semiconductor shares fell 4.6% to close at $158.18.
• Tyler Technologies shares gained 0.3% to close at $569.71.
• Cemex shares fell 2.7% to settle at $6.25 on Thursday.
• Lumen Technologies shares rose 5.4% to close at $3.32 on Thursday.

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Posted In: CX LUMN TSM TYL WFC