Jim Cramer shares his thoughts on 3M, AT&T, Devon Energy, Deckers Outdoor, On Holding and J.B. Hunt
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. 3M : The beleaguered industrial conglomerate completed the spin-off of its health-care business into a publicly traded firm known as Solventum. "A lot of people like the actual new 3M," Jim Cramer said, while referring to the company's years of litigation fights. "I think the spin-off is cheap, but not my favorite." AT & T : The telecommunications giant said it is investigating a leak that put millions of its customers' and former customers' data on the dark web. "This is CrowdStrike and Palo Alto. Buy some Palo Alto on this. You know we like that," Cramer said, referencing a pair of cybersecurity companies. The CNBC Investing Club owns shares of Palo Alto Networks. Devon Energy : Shares rose about 1.5% after analysts at Wells Fargo upgraded the exploration-and-production company to a buy-equivalent rating. "I thought it was a mistake. Natural gas has just been getting killed. Devon has already had a bit of a move. I'm not there for that. If you want something, you buy Coterra because they've switched more to oil than nat gas," Cramer said. The Club owns Coterra. Deckers Outdoor , Crocs , Skechers USA and On Holding : Analysts at Barclays initiated coverage of a basket of shoe companies including Deckers Outdoor, which owns Hoka, and Switzerland's On Holding. "The one I've been looking at is [On Holding]. I think there's a big short position that's probably wrong," Cramer said. J.B. Hunt Transport Services , C.H. Robinson , Werner Enterprises : Barclays downgraded the three trucking stocks. "That surprised me. Norfolk Southern has been taking share. That may matter," Cramer said.