Jim Cramer: Fast Food Is 'Challenged,' But This Industrial Stock Is 'A Good Spec'
Amprius Technologies AMPX | 0.00 | |
McDonald's Corporation MCD | 0.00 | |
Wendy's Company WEN | 0.00 |
On CNBC’s “Mad Money Lightning Round,” Jim Cramer said he likes Amprius Technologies, Inc. (NYSE:AMPX) and recommended buying it. “It’s a good spec,” he added.
Lending support to his choice, Clear Street, on June 3, initiated coverage on Amprius Technologies with a Buy rating and announced a price target of $33.
Cramer recommended against owing Wendy’s (NASDAQ:WEN). “Take a look at McDonald’s (NYSE:MCD) stock, even McDonald’s is getting hit. This group is very, very challenged,” he noted.
As per the recent news, Wendy’s, on June 23, named Steve Cirulis as CFO and chief strategy officer, succeeding Ken Cook.
On the earnings front, Wendy’s, on May 8, reported first-quarter results that topped Wall Street expectations and reaffirmed its full-year outlook despite continued margin pressure. The company reported first-quarter adjusted earnings per share of 12 cents, beating the analyst consensus estimate of 10 cents. Quarterly sales of $540.637 million (+3.3% year over year) outpaced the Street view of $517.965 million. Adjusted revenues gained 2.2% to $432.3 million.
Price Action
- Wendy’s shares fell 4.2% to settle at $7.45 on Wednesday.
- Amprius Technologies shares declined 1.2% to close at $11.58.
- McDonald’s shares fell 1.4% to settle at $278.25 on Wednesday.
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