Cramer Recommends Buying Home Depot Before Fed Rate Cut
- Jim Cramer shared insights on five stocks, including Home Depot, post-earnings report.
- He recommended buying Home Depot before a potential Fed rate cut.
- Investors should consider Cramer's advice amidst market uncertainty.
On August 13, 2024, Jim Cramer provided insights into several stocks making headlines, starting with Home Depot. Despite the home-improvement retailer lowering its full-year comparable sales forecast, shares saw a slight uptick. Cramer criticized the previous 15% drop in stock value, suggesting that investors should consider buying before anticipated rate cuts. Swiss shoemaker On Holding experienced volatility following a strong quarterly report, although it maintained its full-year profit outlook. Cramer praised the company's performance, calling it "remarkably good," while noting its conservative approach to future projections. In contrast, Baxter's shares plummeted over 7% after the company announced the sale of its kidney-care business to Carlyle Group for $3.78 billion. Cramer labeled Baxter a "disaster," reflecting concerns over the company's strategic direction. Hormel Foods saw a nearly 2% increase in shares after Citigroup upgraded its rating from hold to buy. Despite recent mediocre performance, Cramer expressed skepticism about the company's future prospects. Meanwhile, Micron Technology's shares rose by 2% as investors reacted to a Citigroup note warning of potential inventory buildup in the PC and wireless supply chains. Cramer highlighted Micron's decision to resume its share repurchase program, indicating confidence in its long-term value.