Jim Cramer is a ‘huge fan’ of Akamai — not for content delivery but for a hidden jewel
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Akamai : Shares dropped more than 7% after the company missed quarterly earnings on content delivery network weakness. “I’m a huge fan of Akamai,” Jim Cramer said Friday. “Buried within this company, almost 50% of the company, is a jewel of a cybersecurity company.” He added, “This is a company that is going to be most coveted because you can get rid of the content delivery business,” and sell it to a rival. Enbridge : The Canadian energy pipeline giant reported a better-than-expected quarter. “You could do far worse than a 7% [annual dividend] yield and good growth,” Cramer said. Sweetgreen : The stock soared nearly 40% after the salad chain delivered a beat and raise. “I always believed that they could get it right,” Cramer said. That wasn’t always the case. Management was “very humbled on the call,” acknowledging negative comps a year ago. Comps are now strong. Array Technologies : The solar company reported a strong quarter, highlighted by an unexpected profit. “The natural play is Nextracker, which is the competitor with Array,” Cramer said. Nextracker is in the CNBC Investing Club’s Bullpen of stocks watch. Unity Software : The platform for creating interactive content had a mixed quarter: a sales beat and an earnings miss. “When I look at the core business I don’t get excited about it,” Cramer said. Unity made a bet on the metaverse that “hasn’t panned out,” he said. However, he said new CEO Matt Bromberg, who came from Zynga, can help Unity get back on track. This post has been syndicated from a third-party source. View the original article here.
