After reaching a new high of $1,296.97 in the session, shares of Alphabet plummeted nearly 8% in after-hours trading. The tech giantof $11.90 per share, compared with the expected $10.61. But, reported revenue of $36.34 billion fell below analysts' projections of $37.33 billion.
Ahead of Monday's close, the stock had run up nearly 10% in April. Cramer called it a "horrendous set up." "[It's] another classic worst-case scenario, although the pattern of Alphabet's stock is to get pummeled on earnings and then spend the next three months rallying until it gets pummeled on earnings again," he said. "It's the Sisyphus of modern growth stocks."call last Thursday, when the company revealed weaker-than-expected revenue expectations.
Nearly a third of all S&P 500 companies are set to report earnings this week. If a stock surges into the quarter and the earnings results turn out to be bad, investors could be set up for a tough decline, Cramer warned. The major indexes on Monday all advanced. The Dow Jones Industrial Average added more than 11 points, the S&P 500 gained gained 0.11%, and the Nasdaq Composite moved 0.19%. The latter two averages both recorded new 52-week highs.Want to take a deep dive into Cramer's world? Hit him up!
This is not a true statement. alphabet had a lousy earning.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cramer Remix: Stick with this beverage stock for the long-termJim Cramer explains why investors should stick with PepsiCo for the long-term, especially after the company's blowout quarter.
Source: CNBC - 🏆 12. / 72 Read more »
Cramer Remix: I think the stock market's biggest risk right now is the current IPO cycleJim Cramer says the barrage of IPOs flooding the market are looking frothy, adding that it could be a sign of irrational exuberance. irrational valuation If I wanted to scoop up someone else’s shit, I’d just stroll through downtown San Francisco instead of buying the Uber or Lyft IPO jimcramer
Source: CNBC - 🏆 12. / 72 Read more »
Cramer's lightning round: Why I'm staying away from most auto stocksJim Cramer zips through his response to caller questions about their favorite stock picks.
Source: CNBC - 🏆 12. / 72 Read more »
Cramer Remix: Stocks are bearing the fruits of fear this earnings seasonJim Cramer dishes on how low expectations have set the scene for positive first-quarter earnings.
Source: CNBC - 🏆 12. / 72 Read more »
Cramer: Ford and Honeywell can withstand Uber's onslaught on the auto sector'The auto industry just isn't a bedrock part of this economy anymore, and very few companies saw this coming,' Jim Cramer says.
Source: CNBC - 🏆 12. / 72 Read more »
Cramer breaks down the 7 reasons why Chipotle is making a comebackJim Cramer says Chipotle CEO Brian Niccol gave a blueprint on how to succeed in retail in the company's earnings call Wednesday. The stomach is about 12 in. (30.5 cm) long and is 6 in. & they intend of trying to get people to shove that much food into their bodies? You can slap someone in the face with that thing & cause serious damages! Last Summer I went to Chipotle, placed my order, watched the folks start to make my 'food'..........then I saw the 300 flies all over every ingredient in the make table. I walked out. Never again, Chipotle. They always made good ER most the time. Is it really good restaurants
Source: CNBC - 🏆 12. / 72 Read more »
Cramer: Investors betting against Hasbro and Twitter bolstered markets to record highs'Days like today remind us that short-sellers can serve as rocket fuel for a bull market,' Jim Cramer says.
Source: CNBC - 🏆 12. / 72 Read more »