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Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Snowflake : Shares were sinking nearly 20% on weak guidance and CEO Frank Slootman announcing his retirement. Jim Cramer said Thursday he’s a big fan of Slootman and the CEO’s planned departure is a blow to the company. “I don’t think the product mix is going to be as good going forward,” Cramer said. Best Buy : Fourth-quarter sales slowed less than expected at the electronics and appliance retailer. The stock was up 4.5% despite a 2024 sales guide of flat to down 3%. Estimates had called for flat. Cramer described Best Buy’s quarter as “very positive,” adding that “multiple expansion is at play, too.” Paramount : The media and entertainment giant said revenue from streaming beat expectations and expects the business to be profitable domestically next year. “This is one where people are waiting for a takeout,” Cramer said, though he expressed caution that there may be dilution in a potential deal. The stock was up more than 3.5%. Okta : Shares jumped more than 20% after the identity protection platform issued a better-than-expected quarter. CEO Todd McKinnon “pulled a rabbit out of a hat,” Cramer said, noting McKinnon also said that “even though they were hacked, they learned a lot from it.” Celsius : The energy drink maker saw better-than-expected quarterly revenue that nearly doubled year over year. Shares shot up 11.5%. Cramer said, “Celsius has a lot of bears” betting against the stock, which can lead to volatility. However, he said, “The numbers out of Costco and Amazon were nothing short of a blowout,” adding he remains a “huge believer” in the stock. PepsiCo has a large stake in Celsius, Cramer noted, adding the soft drink and snack giant is very pleased with it. Cramer’s Charitable Trust, the portfolio used by the CNBC Investing Club, owns Costco and Amazon.
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