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

Jim Cramer (0:01)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting.

It is quite obvious to me that there are people who care only about that we're not going to get the raincoats. And that has not been my rap. My rap is that there are companies who are doing well regardless, and that's what you buy. And that's what we have to talk about.

Jeff Marks (0:24)

Yeah, absolutely. You know, Powell said yesterday afternoon, maybe kind of throughout 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. I mean, you had a good reaction to Morgan Stanley yesterday. That's following through today. We can talk more about that in a minute.

Our oversold. So we have done some buys the last couple of days.

Jim Cramer (0:48)

Reaction to the oscillator.

Jeff Marks (0:50)

Right, because that's what we do. That's the discipline. It's a sign that the oscillator, that stocks have come down to a good level, really fast. Right, we've had a nice 3-4% pullback in the S&P.

So you look for some things to buy. We did some Coteri yesterday, Constellation Brands, a little bit more Best Buy.

Jim Cramer (1:07)

Right, and look, remember what we do.

As stocks went up, and you can look at it, whether it be a Lindy or whether it be a Caterpillar, whether it be a Disney.

As they go up, we do some selling, we trim, so we're ready and have the cash when it goes down. Otherwise, here's what would happen. You'd be scrambling to sell right now into, maybe you would be selling something a Brocon instead of being able to buy it. That's the essence of what we teach. Remember, this is a teaching product, which brings me to Abbott Labs. Okay, so Abbott Labs is very much like GE Healthcare in the 60s. Okay, I say that, and I speak to Abbott many times, and Abbott is a gas that the stock's down because they raise forecasts. They don't raise forecasts. No. So this is a mistake. Tomorrow, there'll be a lot of people who come out and say that they raise the price target. This is an opportunity I didn't mention on Squawk.

I believe that it comes down more. We will buy more.

Jeff Marks (2:04)

Sure, buying some this morning. So it was top and bottom line beat. They beat by three cents. Organic sales up 10.8, fifth consecutive quarter of double digit organic growth. Remember, that excludes COVID sales too.

They're not going to get credit for anything COVID related.

Jim Cramer (2:21)

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SPEAKER_3 (2:37)

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