Jim Cramer provides daily rapid-fire analysis of stocks featured in non-portfolio news on CNBC Investing Club. Snowflake: Weak guidance and CEO Frank Slotman’s retirement announcement sent the stock down nearly 20%. Jim Cramer said Thursday that he is a big fan of Mr. Slottman and that the CEO’s planned departure is a blow to the company. “I don’t think the product mix will be this good going forward,” Kramer said. Best Buy: The electronics and appliance retailer’s fourth-quarter sales slowed less than expected. The stock rose 4.5% despite the company’s 2024 sales outlook ranging from flat to down 3%. The estimate was that it would be flat. Kramer called Best Buy’s quarter “very positive,” adding that “multiple business expansions also played a role.” Paramount: The media and entertainment giant said revenue from streaming has exceeded expectations and it expects the business to be profitable domestically next year. “This is a situation where people are waiting for takeout,” Kramer said, but expressed caution that it could dilute potential deals. The stock price rose more than 3.5%. Okta: Shares rose more than 20% after the identity protection platform reported a better-than-expected quarter. CEO Todd McKinnon “pulled a rabbit out of a hat,” Kramer said, noting that McKinnon also said “despite being hacked, we learned a lot from it.” Celsius: The energy drink maker’s quarterly sales beat expectations, nearly doubling year over year. The stock price soared 11.5%. “There are a lot of bears betting on stocks on Celsius,” Cramer said, which could cause volatility. But he said, “Costco and Amazon’s numbers were nothing short of explosive,” adding that he still “strongly believes” in the stock. Kramer noted that PepsiCo has a large stake in Celsius, adding that the soft drink and snack giant is very happy with it. Cramer’s Charitable Trust, a portfolio used by CNBC Investment Club, owns Costco and Amazon.
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