Jim Cramer shares his thoughts on Lululemon, Nike, FedEx, Tesla and Boeing
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Lululemon : Shares plunged more than 18% after the athletic apparel maker issued current-quarter revenue and earnings guidance below Wall Street estimates. Its quarterly sales forecast implies annual growth between 9% to 10%, compared with the 12.5% growth expected by analysts, according to LSEG . "When you go to high-single digit [growth] from being a major growth company, you're going to get this kind of decline. I was surprised and disappointed" by the outlook, Jim Cramer said. Nike : Shares tumbled 8% after the apparel maker also issued light guidance for its current quarter. Its business in China also continued to slow in its fiscal 2024 third quarter. Cramer said Nike and Lululemon management sent a similar message to investors with their reports and outlooks. "They basically said, 'If you're an owner ... maybe you should sell us and come back later,'" Cramer said. FedEx : Shares jumped nearly 8% after the delivery giant reported better-than-expected margins at its Express division and announced a $5 billion stock buyback initiative. Its per-share earnings in the quarter totaled $3.86, well above analyst expectations. "These earnings are being done without any revenue growth whatsoever. If you get any revenue growth, you're going to see leverage that's immense," Cramer said. "It's a stock I want to talk about when we get to [the CNBC Investing Club's upcoming] Monthly Meeting. It may be another one that we have to think about. There's a lot of good stocks out there right now." Tesla : The electric vehicle maker is cutting back on production in China, Bloomberg News reported Friday. Tesla shares fell nearly 2%, extending their year-to-date declines to more than 31%. "They can't get a break. ... I think the Chinese cars are the real existential threat to them. They're too cheap and good," Cramer said. In autos, the CNBC Investing Club owns Ford Motor . Boeing : The Wall Street Journal reported that U.S. airline executives asked to meeting with Boeing's board of directors as the plane maker continues to grapple with the fallout of the Alaska Airlines door blowout earlier this year. Boeing's chief executive, Dave Calhoun, is not expected to attend the meetings, the newspaper reported. "That's a very challenging situation for Calhoun," Cramer said, adding he thinks the airlines wanting to meet without Calhoun could mean his "days are numbered."