Stocks traded higher on Thursday after three days of losses for the S&P 500 and after U.S. jobless claims fell last week to a new pandemic low.
TheStreet’s Katherine Ross and Jim Cramer discussed the latest stock market news. Cramer explained how to trade Ralph Lauren after his earnings report, the decline in interest in GameStop and AMC and a return to normal in the markets on Thursday.
Ralph Lauren: Buy or Sell?
Ralph Lauren Actions (RL) – Get a report fell sharply after the clothing and home products company reported fourth quarter results that missed estimates. The fashion house also restored its dividend.
Comparable store sales in Asia increased 23%, while North America reported a 3% increase in this key metric. But comparable store sales in Europe fell 45%.
Cramer said Ralph Lauren was a buy. “The stock has sunk. When Ralph Lauren is down 11% that’s when you buy it, not when you sell. I would say buy it now and wait until the end of the market. day around 3:30 p.m. when brokers might try to bring it down, “he said.
GameStop and AMC
“I like the idea that we are in a market where good news translates into higher stock prices again, after a time when the only thing that mattered was GameStop and AMC,” Cramer said.
Cramer said he was watching the markets return to normal. “We have semiconductor companies that are doing well, like Broadcom (AVGO) – Get a report deal with google (GOOGL) – Get a report and the stock goes up 18%, ”he said.
“AMD (AMD) – Get a report followed with his strength yesterday with an incredible takeover by Lisa Su. I see apple (AAPL) – Get a report Endorse a very good article from UBS Evidence Lab that there is a huge demand for iPhones. I see technology with good news and that is a very healthy sign. “
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