Jim Cramer thinks Chubb is the best insurer

Axios

Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio.
Walmart : Shares jumped more than 6% after the retail giant delivered a quarterly earnings beat and said it may now exceed the high end of its sales and adjusted earnings per share.
“They go aisle by aisle, and they talk about how in food they’ve got deflation,” Jim Cramer said.
Small inflation in some elements of food, but they do have their own private brand that’s selling very well.
Deere : Shares fell 2% after the farm equipment maker cut its full-year profit forecast, having also done so in February.
Chubb : Shares jumped 3.5% after Warren Buffett’s Berkshire Hathaway revealed in a securities filing Wednesday night that it’d been buying a stake in the insurer.
Cisco Systems : Shares dropped nearly 2% despite the networking company’s better-than-expected quarterly results and upward revision to fiscal 2024 guidance.
… Kevin Plank does have a $500 million buyback, and that perhaps could explain why people might think it’s worth being in.

POSITIVE

With his daily fast fire, Jim Cramer examines news stocks that aren’t part of the CNBC Investing Club portfolio. Walmart: Following the retail behemoth’s quarterly earnings beat and statement that it may now surpass the upper end of its sales and adjusted earnings per share, shares of the company surged by more than 6%. “They walk through each aisle, discussing how there is deflation in the food industry,” Jim Cramer remarked. It’s crucial for people to understand that. Additionally, they [observe] a deflation of hard goods. They have their own private brand that is selling really well, but there is a slight inflation in some food items. There’s proof in the pudding. I must say, that stock is incredible. Deere: After lowering its full-year profit projection, which it had already done in February, the maker of farm equipment saw a 2% decline in share prices. Cramer questioned if management really needed to reduce guidance once more. “They do make the best machines, so when it’s down, I always say buy,” he conceded. Chubb: After Berkshire Hathaway, led by Warren Buffett, disclosed in a securities filing on Wednesday night that it had been purchasing an interest in the insurer, shares of the company surged by 3.5 percent. “Eleven times revenue. Best available. Absolutely wonderful. assumes the lowest credit risk,” Cramer remarked. The networking company Cisco Systems reported better-than-expected quarterly results and revised its fiscal 2024 guidance upward, but still, shares of the company fell by almost 2 percent. Humans lack faith. This has turned into one of those ‘Show me’ scenarios, Cramer remarked. A poor quarter cannot simply turn into a good one. Simply put, people don’t buy it. Under Armour: In reaction to earnings, shares saw a sharp decline of over 9% shortly after the opening, but they later recovered and entered positive territory. “I’m at a loss for words. dot. Given that Kevin Plank has a $500 million buyback, that may help to explain why some may believe it’s worthwhile to participate. Recall, in my opinion, that [Deckers Outdoor-owned] Hoka is incredibly powerful and [On Holding]. These two plays on footwear have shown remarkable success in this market. ****.

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