Jim Cramer provides daily rapid-fire analysis of stocks featured in non-portfolio news on CNBC Investing Club. Advanced Micro Devices: In addition to slightly better-than-expected first-quarter results, the semiconductor designer raised his 2024 sales forecast for artificial intelligence chips to his $4 billion. “People wanted $6 billion. I think that was a little pushy,” Jim Cramer said. “There’s no reason for her to hit those numbers. The games were bad, the embedding was bad. We’ll have to wait a little bit here.” AMD stock fell more than 7% on Wednesday. Johnson & Johnson: The pharmaceutical and medical device company announced a $6.5 billion plan to settle a U.S. lawsuit that claims its talc-based products cause ovarian cancer. “I believe they can figure it out,” Kramer said, adding, “Will they buy here? The fact is, the real business is going well. So the answer is yes.” CVS Health: Shares fell 18% after the company’s first-quarter results fell short of Wall Street expectations. Drugstore operating companies and health insurance companies also lowered their full-year forecasts, putting pressure on stock prices. “This is just bad business,” Kramer said, noting that CVS faces headwinds in both its drugstore and insurance businesses. Super Microcomputer: Shares plunged nearly 18% after the AI server maker’s third-quarter earnings were slightly below expectations. The decline occurred despite Supermicro raising its full-year sales outlook. By Tuesday’s close, the stock had more than tripled since the beginning of the year. “Everything should be perfect, and it wasn’t,” Kramer said. Pinterest : Shares rose more than 20% after the social media company reported better-than-expected first-quarter revenue and adjusted earnings. The number of monthly active users also exceeded expectations. “Pinterest has become a place that people go to and a fun way to look at things. It’s a happy place, and I’m not kidding. It just happens to have that patina of happiness, and that’s why people… ” said Kramer.
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