Stock Market Today With Jim Cramer: Amazon, Tesla are Winning

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Jim Cramer discusses stock market news, including Amazon and Tesla winning the second quarter, Micron earnings beat and Lululemon buying Mirror.

The Dow is moving lower on the last day of the second quarter while the S&P 500 and the Nasdaq are both up today.

TheStreet’s Katherine Ross discussed breaking news in the stock market on StreetLightning with Jim Cramer. Cramer spoke about Amazon and Tesla winning the second quarter, Micron earnings beat and Lululemon buying Mirror.

Amazon and Tesla Won the Second Quarter

News that Tesla  (TSLA) – Get Report is going to break even in the second quarter was leaked sending Tesla shares north of $1,000. Tesla got a poor ranking last week from J.D. Power but Cramer talked about why the news was stupid and investors should ignore it. 

Amazon  (AMZN) – Get Report decided to get into the driverless auto space with its purchase of Zoox last week. Amazon wasn’t done making moves when they announced this week that Amazon Web Services would form business units Aerospace and Satellite Solutions to help cloud services to space-focused companies.

All of these moves had Cramer declare Amazon and Tesla best positioned as the winners for the second quarter and the stocks are moving higher on the last day of trading.

Micron Stock: Buy or Sell?

Chip stocks are rallying today on the good news from Micron  (MU) – Get Report yesterday. Micron is one of the tech stocks moving the market up today in Annie Gaus’s Midday Market Movers in Tech. Micron beat earnings and sales estimates when they reported their financials after the bell on Monday. TheStreet’s Eric Jhonsa broke down the seven key takeaways from Micron earnings that helped the stock do so well.

Cramer spoke about the ‘fantastic’ earnings what he wants to see from Micron ahead and why he thinks their future is in 5G.

Lululemon Stock: Buy or Sell?

Lululemon  (LULU) – Get Report announced yesterday that they are purchasing at-home workout company Mirror in a report with the New York Times. Lululemon shares were rising 5% after the news on Monday TheStreet broke down how to trade Lululemon stock after the acquisition news. Lululemon beat earnings earlier this month and gained strong analyst reviews following the reported financials.

Cramer talked about what he loves about Lululemon and called the company ‘unbelievable’.

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