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Shares rose on Wednesday as Federal Reserve Chairman Jerome Powell said in remarks prepared ahead of congressional testimony that the central bank was not ready to withdraw support as the US economy has some way to go. to go before standing up.
Jim Cramer from TheStreet shared his take on Boeing (BA) – Get a report and AbbVie (ABBV) – Get a report with Jeff Marks, Senior Analyst at Action Alerts PLUS.
Cramer: “I am extremely disappointed with Boeing”
Boeing shares were hit after the aircraft maker said it would cut production of its 787 Dreamliner following the discovery of structural flaws in the ailing two-aisle plane.
The shares were slightly higher in trading on Wednesday.
Cramer took a few moments to clear up any confusion about his stance on Boeing, which he said he really likes.
“There are a lot of people who don’t understand what I’m doing,” he said, “that’s why I say join the club. Back it’s too hard.”
Cramer has rejected any suggestion that China conducts test flights of the Chinese 737 MAX.
“Our governments are not talking,” he said. “At the end of the day, everyone needs Boeing planes. But in the end, the guys who really need Boeing planes are Boeing. They need sales and they need this CEO (Dave) Calhoun to go to the factories and start inspiring these workers. “
Cramer said it’s a “you have to be a player-coach” situation.
“You have to be in there,” he said. “You have to do things. And I think it’s taken out of the everyday. Now is not the time to be taken out of the everyday, not with all of these issues, so I’m very disappointed with Boeing. Extremely disappointed.
Cramer on AbbVie: “Something else is happening”
Cramer also expressed his concerns about the (ABBV) – Get a report recent race. Shares edged up Wednesday to $ 116.94 and are up 9.14% year-to-date.
Cramer speculated that something could be happening behind the scenes at the company because “AbbVie is growing abnormally.”
“I just felt it,” he said.
Cramer singled out Biohaven Pharmaceutical (BHVN) – Get a report, “a small business and it crushes AbbVie.”
He expressed disappointment with the company’s acquisition of Allergan last year.
“The destruction of Allergan’s value is extraordinary,” he said. “They didn’t do absolutely nothing with Allergan. I think Allergan was a gem and I don’t see the gem anymore … I think the management needs to become more active and that’s their job.”
Boeing and AbbVie hold stakes in Jim Cramer’s Action Alerts PLUS Investment Club. Want to be alerted before Jim Cramer buys or sells these stocks? Find out more now.
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