Cramer's lightning round: Groupon is a reopening stock
- It's that time again! "Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.
Invitae: "I've got to do more work on it."
McDonald's: "They have been inconsistent of late, OK, and the inconsistency is driving people crazy. It yields 2.5%. When it gets to 3% — even if it's inconsistent — I'm going to say buy."
Facebook: "Can the stock get cheaper? Of course, it can. Is it inexpensive on its growth rate? Yes, it is."
Groupon: "It's a reopening stock. It's a local reopening stock, and there's not that many of those and it is one of them that works."
Disclosure: Cramer's charitable trust owns shares of Facebook.
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Opinion | How to Reach People Who Are Wrong
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Cathie Wood\u2019s ARK Invest Buys Over 2.6 Million Palantir Shares
A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Wednesday. Accordingly these funds bought over 2.6 million shares of Palantir Technologies Inc. (NASDAQ: PLTR) shares on Wednesday, as the price of these ETFs lost over 5% on Wednesday. Note that these ETFs are still up well over 100% in the last year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 1.9885 million shares of Palantir, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 670,300 shares. At Wednesday’s closing price this would have valued this purchase at roughly $63 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 140% in the last year, and ARKW Is up 149%.
Recently, 24/7 Wall St. reported:
Palantir Technologies Inc. (NYSE: PLTR) was upgraded to Buy from Neutral at Goldman Sachs, which also raised its price target to $34 on Wednesday. The firm appears to be bucking the trend here, as other analysts have been less enthusiastic lately. The software company posted strong results, but with a weak revenue forecast, and shares pulled back as the lockup period expired.
The consensus price target of $25.83 suggests that the analysts see no upside, even after shares retreated around 9% in the past week. Shares have traded as high as $45.00 and as low as $8.90 since coming public via a direct listing last year.
Jeep is open to dropping Cherokee name, says CEO
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The chief executive of Jeep's owner said he is open to dropping the Cherokee name after recent criticism from the Native American tribe's leadership.
Carlos Tavares, chief executive officer of the recently formed Stellantis NV, said the company was engaged in dialogue with the Cherokee Nation over its use of the name. Jeep has two models, the Cherokee compact sport-utility vehicle and larger Grand Cherokee, that it sells in the U.S. and beyond.
JEEP WRANGLER COULD SET SALES RECORD
Asked in an interview if he would be willing to change the Jeep Cherokee's name if pushed to do so, Mr. Tavares said, "We are ready to go to any point, up to the point where we decide with the appropriate people and with no intermediaries."
"At this stage, I don't know if there is a real problem. But if there is one, well, of course, we will solve it," Mr. Tavares said, adding that he wasn't personally involved in the talks.
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The debate over the Cherokee name is among the issues facing Mr. Tavares, who took control of Stellantis when it was formed earlier this year from the merger of Fiat Chrysler Automobiles NV and Peugeot-maker PSA.
Uniper FY20 Adj. Profit Rises
German energy generation and energy trading company Uniper SE reported that its adjusted net income for financial year 2020 was 774 million euros, compared to 614 million euros in the previous year.
Annual Adjusted EBIT or earnings before interest and taxes was 998 million euros, compared to 863 million euros in the prior year.
The Board of Management and the Supervisory Board will propose to the Annual General Meeting to distribute a dividend of 1.37 euros per share for the 2020 financial year. This corresponds to a total dividend payment of 501 million euros.
For the financial year 2021, Uniper expects an adjusted EBIT to be in the range of 700 million euros – 950 million euros and adjusted net income of 550 million euros – 750 million euros.
‘Never played basketball and is 5-foot-2’: Jim Boeheim unfairly critical of reporter after Syracuse win
Longtime Syracuse coach Jim Boeheim went out of his way to unfairly criticize a reporter Wednesday night during his media availability following the Orange's win over Clemson.
What started as a fairly benign question from The Athletic's Matthew Gutierrez that produced an at-first standard response from Boeheim turned into a personal verbal attack as Boeheim ripped Gutierrez's basketball acumen and seemingly mocked his height.
Boeheim was asked about the "defensive growth" of players Quincy Guerrier and Alan Griffin over the past few games.
"I think they're getting better, they still make some mistakes and that's normal," Boeheim began praising his guards before moving on to complimenting the rest of the team.
"I think our whole team has gotten better, but it hasn't been as good as we needed it all year," Boeheim continued. "I think we have gotten better as a team. I think it's hard to go 9-7 in this league. This is a difficult league. Very difficult. I think these guys have done a great job this year.