Jim Cramer dished out his trademark rapid-fire stock opinions during CNBC's "Mad Money Lightning Round," and not everyone made the cut. His biggest thumbs-down? BP p.l.c. (BP), which he advised selling despite some recent positive developments.
The British energy giant actually posted decent third-quarter results back on November 4th, with adjusted earnings of 85 cents per American depositary share beating the consensus estimate of 75 cents. Revenue climbed to $48.42 billion from $47.25 billion year-over-year, though that still missed analyst expectations of $51.38 billion. Apparently, beating on earnings but missing on revenue wasn't enough to win Cramer over.
The Pharma Distribution Battle
When it comes to pharmaceutical distributors, Cramer had clear favorites. While he expressed genuine enthusiasm for Cencora, Inc. (COR), he declared that Cardinal Health, Inc. (CAH) "got them all beat."
Cencora hasn't exactly been sitting idle. On Monday, the company announced plans to acquire the majority stake in OneOncology that it doesn't already own from TPG and other shareholders. The deal involves approximately $3.6 billion in cash plus retiring $1.3 billion in existing corporate debt, bringing the total consideration to roughly $5 billion. That's a significant bet on the oncology space, but Cramer still prefers Cardinal Health's positioning.
Mining for the Right Pick
In the mining sector, Cramer acknowledged that Perpetua Resources Corp. (PPTA) is trading like a "hot" stock, but he steered investors toward Agnico Eagle Mines Limited (AEM) instead.
There might be good reason for caution on Perpetua. The company reported third-quarter results on November 17th that weren't pretty, posting losses of 24 cents per share against analyst expectations for losses of just 3 cents. Missing estimates by that wide a margin, especially when you're already losing money, tends to give investors pause.
How the Stocks Moved
Monday's trading session reflected some of these dynamics. Cencora shares climbed 1.3% to close at $350.32, perhaps buoyed by the OneOncology acquisition news. BP shares were essentially flat, slipping just 0.03% to end at $35.25. Perpetua Resources took the hardest hit, falling 6.9% to close at $26.84, likely still digesting those disappointing quarterly results.
