Under Armour Has Bottomed - Cramer's Lightning Round (10/1/18)

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Includes: AKS, BX, ED, GVA, IBM, LULU, NUE, NVCR, SBUX, SNAP, UAA, WTW
by: SA Editor Mohit Manghnani

Summary

Lululemon Athletica still has room to go higher.

Starbucks has not bottomed yet.

Snap doesn't have real edge over its competitors.

Stocks discussed on the Lightning Round segment of Jim Cramer's Mad Money Program, Monday, October 1.

Bullish Calls

Blackstone Group (NYSE:BX): The stock has come off its highs and they are a bunch of smart guys. It's a buy.

Novocure (NASDAQ:NVCR): The stock has run up a lot. Take some off the table and let the rest run as Cramer believes in the technology.

Lululemon Athletica (NASDAQ:LULU): The stock hit its 52-week high and it's still worth buying. They got analyst upgrades as well.

Consolidated Edison (NYSE:ED): Buy half now and the rest when it starts yielding 4%.

Under Armour (NYSE:UAA): Their inventories are clean and the stock has bottomed. It's a buy.

International Business Machines (NYSE:IBM): Cramer thinks it's a buy.

Bearish Calls

Snap (NYSE:SNAP): It's drifting lower and they don't have a real edge.

Granite Construction (NYSE:GVA): The entire group has become tough and they need the infrastructure bill to go higher.

Starbucks (NASDAQ:SBUX): "I still think this is not the quarter. They are buying back stock left and right, I think CEO Kevin Johnson's doing a great job, but I don't want to buy it until I see this quarter being booked because I think it's just going to be OK."

Weight Watchers International (NYSE:WTW): The stock has moved up a lot. Cramer thinks they do not have an edge left.

AK Steel Holding (NYSE:AKS): No. Nucor (NYSE:NUE) is a better pick and the entire group is tough. Cramer owns Nucor for his trust.

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