Cramer's Morning Take: Costco 9/29/25

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Jim Cramer (1:01)

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

Jeff Marks (1:08)

Let's talk about a new position in the portfolio. We started it last Friday. They do report Tuesday night. This is Nike, another company to turn around big believers in. The CEO, Elliott Hill.

Jim Cramer (1:19)

Yeah, now understand that Nike down 8 for the year is a inventory question. There's been tremendous inventory stuck in the channel, including a footlocker. They're working that off. As soon as they've done the inventory and they get started producing new things, then Nike's gonna return to its great growth. You know I feel like that we have to get into things early in the same way that you get into a Home Depot early. You get big turns. Big turns you have to go in early. And I think this one is going to be the next big one we have as well as Boeing, which we are free to buy tomorrow. And I think we buy more Boeing. Both these stocks I think are very interesting. Now, I don't think you use position from Nike ahead of the quarter because it's not a play on the quarter. It's a play on a longer term Elliott Hill turn. And I think he's really terrific.

Jeff Marks (2:02)

Yeah.

Jim Cramer (2:03)

We bring up Boeing.

Jeff Marks (2:04)

Shares are up about 3.6% last Friday after the FAA eased restrictions on the certification process. So, it essentially will allow Boeing to not only produce more 737 maxes per month but also deliver more. So it was really big news. Stocks down today, not really sure why. But you mentioned tomorrow, if we're free from it, we can buy some.

Jim Cramer (2:25)

There's a persistent seller and there has been in the name for a while now. I think what they should recognize is the cash flow story and cash flow will really build as they can build more and more planes. They themselves obviously thrilled that they get to do this. Another one that's not acting well is Costco. This is one, by the way, believe it or not, I'd actually want to buy some Costco. I think this is absurd. I think you're finally getting a chance to buy Costco below 50 times earnings, which is what we were waiting for. We already have some Costco, so we don't need to buy it, but I just think it's a bargain right here. Yeah, it was Costco.

Jeff Marks (3:00)

It was a top and bottom line beat. Maybe some people criticized, not criticizing, but taking a hard look at the renewals, down a little bit. A lot of that's from the online signups, but the direction of membership continues to grow and membership fee income was a beat as well. Gross margins improved too.

Jim Cramer (3:17)

Join the CNBC Investing Club with Jim Cramer to catch my member exclusive morning minis every day at 10:20 a.m. And visit cnbc.com/morningtake to become a member today. That's one word, morning take.

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