Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Delta Air Lines : Delta on Wednesday reported better-than-expected first quarter results and issued second-quarter guidance that shows that demand for travel is still strong. “We said on Friday that we thought [CEO] Ed Bastian was going to pull the rabbit out of the hat, and that’s what this is,” Jim Cramer said. Taiwan Semiconductor Manufacturing Company : The chipmaking giant’s March revenue jumped a 34.3% year over year, its fastest monthly growth rate since 2022 amid the boom in artificial intelligence processors. Nvidia , which Cramer’s CNBC Investing Club has long owned, is a key customer of TSMC. “When Taiwan Semi reported … Nvidia dropped $8 [per share in premarket trading],” Cramer said. “Here’s the two things you can do: If you know Nvidia you can say, ‘Oh, well that’s wrong.’ If you don’t know Nvidia, you would say, ‘Oh my god, what do I do?’ That’s why you need to know what you own.” Cava Group : Analysts at Argus upgraded the Mediterranean restaurant chain’s stock to a buy rating from hold after a period of weakness. Shares jumped 4% Wednesday. “I love this one… Stay long Cava if you own it. If you don’t own Cava, consider it,” Cramer said. Albemarle : Bank of America upgraded shares of the lithium producer to buy from neutral, arguing prices of lithium have bottomed. “Lithium is a commodity. … This went from secular to cyclical. Stay away,” Cramer said. Alibaba : Shares rose more than 1% in an otherwise down market. In an internal memo, Alibaba founder Jack Ma struck a positive tone on the Chinese tech giant and AI more generally. The Chinese government is “trying to figure out how to revive capitalism,” Cramer said.
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