Cramer's Morning Take: Boeing & Costco 9/30/25

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Jim Cramer (1:04)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting.

David Faber (1:11)

Why don't we talk about some buys, some trades we made for the portfolio. So we added to Boeing today. Shares have basically given back all of the positive FAA news we saw last week where they're easing restrictions, allowing them to deliver more planes and produce more planes per month.

Jim Cramer (1:28)

People feel they need to raise money to do it. I think they might have the cash flow to do it. The one thing I point out is this thing, this is when it was desperate, okay? It's not desperate. It's not in a situation where we have to worry anymore about the balance sheet, but I think people are thinking, whoa, they have to raise a lot of money. Yeah, I don't think so.

David Faber (1:45)

So they're thinking they might raise money in reaction to this story by the Wall Street Journal that said Boeing is in the early stages of planning a 737 MAX successor, developing a new program. Look, it's necessary here because they lost share from the 737 MAX, has a messy history, don't need to go down memory lane. So they do need to make a new product, but it might eat up cash flow. Bank of America, they have a buy on it. They write this morning. It's about time that Boeing does this. So they're actually in favor of it.

But they say maybe the headline might be too strong. They don't see a new program launch for at least the next few years. So I think that should ease some concerns. We also bought some Costco.

Jim Cramer (2:25)

And this is a reaction to the fact that it's finally gotten the price during these multiple lower. Remember, the multiple is really important. We've been waiting. We've been waiting. You know, we had this this nice run up. I'm sure the people say, wait a second, it's a head and shoulders pattern. What I'm saying is we've now given back almost everything except for the fact that all Costco has done is continue to put up great numbers.

David Faber (2:45)

Now it does violate our very low cost basis. I mean, it's like 290 But again, the stock is down 15% from its high. That's a decent size pullback in a high quality company, a market share gainer, a very consistent.

Jim Cramer (3:01)

Highly unusual is what we've done. And I'm doing, you know, when I looked over what Costco was at the numbers and how analysts are trying to go out of the way to pick something that's wrong, they were going on the re-up numbers. I thought that the explanation, which was, it was online, people who don't go to the stores that much, I thought it had great, it held water. And was not gonna just sit here and say, you know what? This thing's no good because we bought it at 200 You can't do that. You have to step up.

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