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IBM Is Doing A 'Great Job,' Jim Cramer Says ā€” But Don't Buy This Real Estate Stock

Author: Avi Kapoor | August 22, 2024 08:56am

On CNBC's “Mad Money Lightning Round,” Jim Cramer recommends holding onto International Business Machines Corporation (NYSE:IBM) or buy some.

“I think IBM's doing a great job,” the Mad Money host added.

On July 24, IBM reported quarterly earnings of $2.43 per share, which beat the analyst consensus estimate of $2.19. Quarterly sales clocked in at $15.8 billion, which beat the analyst consensus estimate of $15.616 billion.

Cramer also recommended holding on to ZIM Integrated Shipping Services Ltd. (NYSE:ZIM). “I think it's Zim's time still,” he noted.

On Aug. 20, Jefferies analyst Omar Nokta maintained ZIM Integrated Shipping with a Buy and raised the price target from $22 to $25.

When asked about PJT Partners Inc. (NYSE:PJT), he said, “It's a dice roll. I can't find out a lot about it. I have to be more certain about a company before I can opine it on this show.”

On July 30, PJT Partners posted better-than-expected quarterly results. PJT Partners reported quarterly earnings of $1.19 per share which beat the analyst consensus estimate of 69 cents per share. The company reported quarterly sales of $360.181 million which beat the analyst consensus estimate of $281.995 million.

What To Avoid: Cramer recommended not buying New York Mortgage Trust, Inc. (NASDAQ:NYMT) after the firm posted weaker-than-expected results for the second quarter on July 31.

NANO Nuclear Energy Inc. (NASDAQ:NNE) is a company that doesn't make money, Cramer said.

“I know that we all want to play nuclear energy as a way to be able to get cheaper power for the data centers. I'm not going to recommend Nano as the way to do it,” he added.

On Aug. 20, Nano Nuclear Energy announced the purchase of 14,000 square-foot facility for $1.71 million.

Price Action:

  • New York Mortgage shares gained 0.8% to settle at $6.44 on Wednesday.
  • Zim shares fell 3.3% to close at $21.80.
  • PJT Partners shares gained 1.4% to settle at $123.34 on Wednesday.
  • NANO Nuclear Energy shares gained 2.7% to close at $11.20 during Wednesday's session.
  • IBM shares rose 0.6% to close at $197.21 on Wednesday.

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Posted In: IBM NNE NYMT PJT ZIM

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