Jim Cramer’s daily quick look at stocks outside of the CNBC Investing Club portfolio in the news. Lowe’s: The home improvement retailer beat profit expectations but revenue fell short of expectations. Lowe’s also lowered its full-year forecast. Shares were higher earlier but fell slightly. Jim Cramer said Tuesday: “The stock is hanging on a cliff because of the Fed. No one wants to own the stock before Jackson Hole.” Lowe’s said it needs to improve housing conditions. “The Fed lowers (interest rates) and we have a deal.” Medtronic: The medical device giant raised its full-year forecast after beating quarterly estimates. The stock rose 3%. “I know Medtronic has always been one of my favorites,” Cramer said. “I’m not so sure about that.” Amer Sports: The company behind the Salomon and Wilson brands reported better-than-expected quarterly results. The stock rose more than 12%. “This one is disappointing. Maybe it’s finally showing some life,” Cramer said. Vornado Realty: The real estate investment trust received a double buy and sell upgrade at Evercore ISI. The stock price edged up to a new 52-week high. Kramer said many people think “the bridge is too far away and think urban real estate can come back.” He stressed that this was not the case. “Very good.” Abercrombie & Fitch: The retailer is rated a positive catalyst concept by Citi. Inventory has not changed much. “The company makes money again and again.”
