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Squawk on the Street

Cramer's Morning Take: Abbott Labs 4/17/24

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 17 April 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

Jim and Jeff discuss why this healthcare holding is being mismarked by the market. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

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0:00.0

Jim Kramer here to share with you a sample of my take on the market from today's

0:07.0

CMEC Investing Club warning meeting.

0:10.0

It is quite obvious to me that there are people who care only about that we're not going to get the rent-coats.

0:17.0

And that has not been my rap.

0:19.0

My rap is that their companies are doing well regardless, and that's what you buy. And that's what we have to talk about.

0:25.0

Yeah, absolutely. You know, Powell said yesterday afternoon maybe kind of threw out the idea that, you know, three cuts, baseline no more, maybe it's none. We'll see. But I think your focus on companies is well served.

0:38.3

I mean, you had a good reaction to Morgan Stanley yesterday that's following through today.

0:42.3

We can talk more about that in a minute.

0:44.3

Our oversawals, we have done some buys the last couple of the last couple of days.

0:48.3

The reaction to the oscillator.

0:49.3

Right, because that's what we do. That's the discipline.

0:52.3

It's a sign that the oscillator, that stocks have come down to a good level, really fast.

0:58.9

Right. We've had a nice 3, 4% pull back in the S&P. So you look for some things to buy. Did some coterie yesterday.

1:05.5

Constellation brands, a little bit more best buy.

1:07.4

Right. And look, remember what we do. As stocks went up and you can know, you can look at it, whether it be a Lindy or

1:15.6

whether it be a caterpillar, whether it be Disney.

1:18.6

As they go up, we do some selling, we trim, so we're ready and have the cash when it goes

1:23.6

down.

1:24.6

Otherwise, here's what would happen.

1:25.6

You'd be scrambling to sell right now into maybe

1:28.8

you would be selling something a brook on instead of being able to buy it. That's the essence

1:34.6

of what we teach. Remember, this is a teaching product, which brings me to Abbott Labs. Okay,

...

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