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Squawk on the Street

Cramer's Morning Take: Danaher 10/22/24

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 22 October 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

Jim and Jeff discuss Danaher beating Wall Street estimates for third-quarter profit and a solid start to earnings season. 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

0:06.7

CNBC Investing Club warning meeting.

0:10.5

Jeff, this is one of the more tougher moments.

0:13.7

This is the beginning of the chaotic period of the earnings.

0:17.6

And the reason why I say it's chaotic is you'll have a company like a Danahur.

0:22.0

And it will be good. But then you look at the interest rates. Interest rates are up. Then people might sell it. Then you look at whether the stock has moved. And then you listen to a company that's not promotional. And next thing you know, you have an opportunity. That's how I look at this period. Yeah, a lot of earnings today, almost better than expected.

0:38.3

Danaher did report this morning strong beat on both revenue. That's how I look at this period. Yeah, a lot of earnings today, almost better than expected.

0:38.3

Danahur did report this morning strong beat on both revenue and earnings per share.

0:43.3

Core revenue growth up 0.5%.

0:46.3

That was a surprise.

0:48.3

Expectations were for a decline.

0:50.3

And obviously the key line that we always focus on with Dana O'Hur is this bioprocessing revenue.

0:55.0

And it was up low single digits, order increasing, increased high single digits sequentially.

1:01.1

You know, they're on track for this high single digit growth rate in the fourth quarter.

1:05.7

So that was all positive.

1:07.1

Right, well, look at this. This is what you do.

1:08.9

You look at this.

1:10.1

This is the, I'm not a technician, but I do enough technical work.

1:13.6

This is higher lows, higher lows.

1:16.6

And what that means is that every time they speak, they're so non-promotional that people

1:22.6

get freaked out.

1:23.6

And then you realize they're being conservative.

...

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