Cramer's Morning Take: Disney 9/19/23

SPEAKER_1 (0:00)

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Jim Cramer (0:32)

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

You and I often talk about September and how it's a week month. So then when it happens, people are always surprised. They shouldn't be surprised. What they go after, the sellers go after are stocks that are up, with the exception this year of infrastructure stocks. So when you see a Salesforce system, don't take it so personal. It's not just your stock that's going down.

Jeff Marks (1:02)

Yeah, I mean, look, that's a great point. I think we all have to remember we're not traders, we're investors. So when we see weakness, prolonged weakness as it's been, right, the market's down in the past month, that's really, you're looking, if you have cash on the sidelines like we do, that's when you look to make your buys to set yourself up, not only for the rest of the year, but also 2024 as well. And even longer than that, too.

So yeah, look, the market's down, it's not oversold yet, getting there. I'm sure tomorrow the Fed meeting could change things, but.

Jim Cramer (1:34)

Could change the direction.

Jeff Marks (1:35)

Yeah, but for now you just have to let prices come in and then you make your move.

Jim Cramer (1:39)

Well, let's use the case of Oracle. Okay, so Oracle goes from 126, we're bulled twice ahead of the quarter. Then it goes down to 108, call it 107

Then it bounces to 113 Now it comes back down to 111 Now I had Safra Katz on last night, she's the CEO.

She told a much better story than we had on the conference call, including new contracts.

Talked about Cernar getting $2 billion with the contracts, it's on the conference call, it sounded like they only got a billion. They've got this big conference going on, it's well attended. She said that the board has already given them authorization to do something, said they're gonna announce something soon. And the stock's down. Now, why is the stock down? Stock's down because no one is paying attention to good news right now, paying attention to bad news. I can say the same thing about Disney. Had you told me in the month of October or in the month of August that they're gonna double down on theme parks, the most lucrative part of their company, I would say yes, that's what a good gambler does. But no, people don't like it. They're sending stock to 82 I will mention this on our conference call as being a very positive moment to buy Disney.

Jeff Marks (2:43)

Yeah, in the news today, so in a filing, they announced that they plan to double their investment in parks experiences and products to approximately 60 billion. That's a double over the last 10 years.

Look, they also say strong balance sheet, access to the market.

Jim Cramer (3:00)

What bad people thought by the way?

Jeff Marks (3:01)

So they're trying to, maybe addressing it is what is also sending the stock down too.

But yeah, look, higher spending, it will impact margins. So I think there is some valid reasons. But at the same time, to your point, theme parks is what's working, theme parks is the direction. It's not like they're doubling down on their linear business.

Jim Cramer (3:21)

But a lot of people feel that Comcast, parent company's network is going to be able to get a very high price for Hulu. So they're doing this double down. Sometimes they may have to pay a lot of money for Hulu. And that's considered to be stretching the balance sheet. So we understand that there are forces at work that make it so that anytime Bob Iger does anything, people are going to hate it.

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SPEAKER_4 (3:59)

All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC, NBC Universal, or their parent company or affiliates, and may have been previously disseminated by Cramer on television, radio, internet, or another medium.