저자: JimCramer · 외국인
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결론: 시장 전반에 고성장주에서 저PER 가치주로의 순환매가 진행 중이며, AT&T는 매수 관점을 제시. [AT&T·통신] 엘리엇이 AT&T에 32억 달러 지분을 투자하고 경영진 교체와 사업 매각(비핵심 자산 정리)을 요구. 주가 약 37달러, 엘리엇은 2020년 말까지 60달러 이상 가능하다고 주장. 크레이머는 주가가 시장 대비 많이 뒤처져 있고 정리가 되면 저평가 구간이라 매수 의견. [고성장 소프트웨어] Shopify는 매출 성장이 뛰어나지만 주당 이익이 미미해 주가가 약 358달러로 하락. CrowdStrike는 실적 상향에도 적자 지속 우려로 약 12% 급락. Alteryx·Zoom도 실적은 좋지만 시장이 적자·고밸류 성장주를 외면하고 있다고 진단. [금융·에너지 순환매] 시티그룹(3% 배당, 9배), 골드만삭스(9배), JP모건(11배) 등 은행주가 저평가 매력으로 부각. 오일서비스·아파치 등 에너지주도 4% 이상 배당으로 반등. [거시] 미중 무역협상 진전 기대는 있으나 크레이머는 회의적. 연준 금리 인하 기대와 장기채 금리 상승이 맞물림. 유가 상승은 경기 개선 신호로 해석돼 소매주 매수로 이어짐. [개별 질의] 필립모리스 계열 Juul 관련 FDA 경고는 우려 요인이나 PM 주식은 배당 매력. Corning은 5G 수혜 기대에도 횡보 중이라 느린 종목으로 평가. Slack은 직상장 후 급락해 고성장·적자 종목의 매도 압력이 지속된다고 봄. [리스크] 고성장주의 추가 조정 가능성, 무역 이슈, 금리 변동이 주요 변수. [출연자 전망] 크레이머는 고성장 기술주는 장기적으로 다시 살아날 것이라 보나, 단기에는 순환매 지속을 인정.
다듬은 글
bad money starts now hey on Kramer welcome to mad money welcome to quaint America every dr. stander Kenya but educating teachers who call me at one eight hundred seven one three CBC or tweet me at Jim Cramer today may have looks a date on the surface now gaining thirty eight points as some feedback sliding small mount we know one percent now I stacked declining point one nine percent but underneath we saw a radical devaluation of all sorts of stocks yep we were forced to reconsider how much willing to pay for certain stocks now how much we'll pay for a certain amount of growth now and how much we will pay in the future or do we sell the most traumatic example this morning an activist from of the brilliant reputation Elliott management took a three point two billion dollar stake in AT&T gigantic and sent a letter to the Board of Directors with a plan to unlock value it's not currently trades it's just under thirty seven they think they can get it to $60 plus by the end of 2021 if the changes are made and that would be huge 80 G's been a real long-term lagger Elliott blames the underperformance of some ill-advised decisions by management like overpaying for DirecTV which is losing subscribers long with a failed acquisition of t-mobile which ends up jump-starting their competitor with a gigantic breakup fee but with some changes Elliott argues that ATT could be worth a great deal more than what it's currently selling for so simply they want the company to divest itself from distracting side businesses cut the fat for heaven's sake emphasize some winning entertainment assets and stop doing these willy-nilly acquisitions at every turn put it all together in these activists believe this stock could get a much higher price Therese multiple notice I didn't say Elliot's calling for the head of CEO Randall Stephenson they didn't ask for board seats that's astonishing at least known for hardball tactics they once confiscated worship from Argentina to collect what they thought they weren't what they were owed they were owed in reality though you know what I think this reputation is entirely overblown well it's actually quite constructive if you're willing to work with them but they're really showing a lot of confidence in ATT here they presented a totally reasonable roadmap for attracting more institutional investors we'd hate stock us a surprising few number of them and therefore sending the stock car it shouldn't be that hard giving it ATT spouts of spout sports a battle 45.5% you they're paying it away for the changes so why isn't the stock worried a lot higher well Elliot blames poor management stock market is judged 80 G's leadership team and founded wanting if they changed their strategy stock could catch fire notice in say if they changed the leadership just that the leaders have changed this fanzi again I thought it was very gentlemanly even though I know many home gamers owned AT&T because of a psychotic reputation big dividend hedge funds have son this stock because of management's missteps but if Randall Stephenson embraces Elliott's plans and the company has said that they're already kind of agree with a lot of what Elliot wants to do then the stock could be worth buying even it for today's run ATT stocks still lie him well behind the rest of the market and they can get their house in order I think you get it up looking very cheap in this environment so yes I say it's a buy emphasis one though is the this environment phrase that I just gave you because we're seeing a wholesale revision of what's considered safe and cheap versus what's considered problematic and expensive here something is roiling the entire market underneath while it's been going on now for a week it's impossible to know that we are seeing an avalanche of selling in the high flyers as money managers swap into the cheaper slow and steady names like AT&T today we saw a wholesale breakdown in super growth names as money rotated out of these now former market darlie's into laggers language is actually a little comforting given the sell-off so look at Shopify which is one of my absolute favorite companies help small businesses harness the power of e-commerce business is so good that earlier today just this morning bear rolled out an extremely bullish piece of research where they raised their sales estimates shop lights got phenomenal revenue growth there's only one problem doesn't have much in the way of earnings this 358 dollar stock down from 406 a few weeks ago it's expected in roughly 70 cents a share for 2019 so even though it's got explosive growth thanks to a terrific secular trend Shopify some certainly expensive on an earnings basis and the markets no longer willing to pay up which is why the stock plunged another 507 percent today and it Lisa's got some earnings it could be worse late last week CrowdStrike the cloud base cybersecurity play report a fantastic odd number fantastic and even raised their earnings forecast unfortunately the company still expects to lose money suddenly this market doesn't want to see some losses and they've got some newfound competition instead of just one's cheap stocks and was it returning a battle for profit hence my CrowdStrike nose-diving nearly 12% today on top of friday's hideous declines people really losing money er we're tonight we'll hear from two other stocks that are selling off because of this exact rotation Alteryx and zoom video both companies are putting incredible quarters it's not the fault of the companies it's the fault of the stock market okay the market doesn't know what to do with these stocks so what's now InStyle and wall street fashion show money matters once talks like citigroup for the three percent yield it's trading at nine times series they want goldman sachs which has a small yield with a faster growth rate also in nine times earnings they prize JPMorgan even though it sells for 11 times arese because it's doing so well especially I'm banging America it's not just the banks this talks of the real down and outers the oil companies rally to everything from slumber say the oil service giant to Apache the independent producer that's widely disliked or at least it was both stocks played battlefield dividends with the yields in excess of 4% he's speaking to us we own BP from my child trust you can follow along a tax dollars plus com yield 6.6 percent and actually has growth but I don't know if I want you in so let's try this rotation to things people seem to believe we can see some progress in the trade negotiations in the China personally I'm skeptical more on that later but hope springs eternal and on top of that there's a wave the Federal Reserve has no choice but to cut interest rate after Friday's not so hot unemployment number once rates are cut the Bulls wish that the economy will get stronger which is why the long-term bond yields search today also it might be explained that rally in oil although that could just easily be because the Saudis might cut back and when money managers see a rally in oil they assume the economy is improving so they buy the retailers dad and Abigail it's not just the watch retailers as if higher gas prices somehow bring in more shoppers but since I'm no longer running a hedge fund I'd like to be contrarian at this moment you don't need to chase these rotations because you don't have rich investors breathing down your neck pushing you constantly for a performance on a daily basis you could afford to buy what the money managers are selling although I wouldn't sell what they're buying because those stocks are way too cheap to ignore we're still not yet at a level that can necessarily sustain a real bottom and the turbo charger to charge grow stocks some people are just beginning to realize that sell have started but remember if long-term Treasury yields keep climbing the presumption will be that the economy is doing better and a better economy investors abandon these secular high powered growth stocks for the signals the oils the bags and the old tech stocks like what they bought today I think it's wrong the truth is high growth never really goes out of style for long it just has periodic hiccups that shake you out the weekend and shareholders that's what's happening so if you haven't already found a terrific cloud stock you want to buy into weakness slowly please maybe you want to think about Kramer fav sales force just report a great quarter or octa which is crater despite its dominant position high end a cybersecurity or maybe you want to listen to one of the two companies I have on tonight that are high growth and think that you get comfortable is one of those the bottom line you want to know why your growth stocks are getting annihilated right it's because there's a market wide rotation out of these companies hey by the way that is exactly why we play am i diversified so that on days like today you won't have all of your eggs and one high flying and now yolk filled fast let's go to rich and California rich big thank you Jim Cramer really appreciate everything you do my question is about ulterior group stock ticker mo I purchased talked about three weeks ago and I was hoping for good news on a merger Philip Morris stock price has a medium sorry of $57 and you know nice dividend yield over with today's news with the FDA issuing a warning letter to Joel I'm concerned about their marketing practices should the chart you know should I be concerned for chopping stock prices ahead I think you just kind of lay low here the jewel stuff was pretty devastated I know the tool people are always anxious to say that what they do is they help people get off the smoking the FDA seems to be a little more concerned about people getting on smoking and that is something that the jewel people will deny but you know what jewel does not run the FDA let's go to Chuck in Washington please Chuck Chuck hello hey Chuck how are you I'm great how are you doing today doing good thank you what's going on good hey I appreciate your enthusiasm your candid advice and especially your wit Thanks personally my wife and I are retired we're trying retirement and our stocks are managed by another financial group but this is the first time we want to try managing our own little portfolio okay and there's something I've been watching and I've got a gut feeling about it we both like it SMG Scottsboro who grow Scottsboro is an excellent company I wish it were down a little more from its high but it was a they had a good selling season and I think that you can tell that but let's let's put it this way if you're going to start a portfolio I don't necessarily think you should start with the stock that's that's expensive that doesn't really have the dividend protection you might want you're retired you don't want to start going for what some people feel is a bit of a gunner stock good company a little rich but thank you for the kind words let's go to Fred in New Mexico Fred hey Jim I've been a holder of Corning for many months and I've been riding this slow roller coaster wondering when the fact that they make the glass for tens of millions of mobile phones and the when are we gonna see some growth happen in that stock or what is the problem with that stock when we know we have to migrate to 5g in the upcoming years I know it never seems to be able to break out it's almost as if all the holders who bought it in 1999 are still stuck in it I think it's a slow and steady wins the race stock I don't think it's a dangerous stock but I don't think it's breaking out here let's take one more let's go to Ben in California please Ben Jim what's going on brother not much how about you I'm good I'm good question is on slack they had their first earnings since there's the risk direct lifting last Wednesday initially after earnings the stock dropped about fifteen percent after hours then Thursday had bounced back to 30 and then Friday had dropped at today we're down another ten percent I got in shortly after the direct listing but what do I do here cut losses I have to tell you this this stock is in all the wrong hands it just is not doing nearly as badly as people think look I totally respect Microsoft but I do think that that slack has got great technology and I think a lot of people like their software I use it but all I will tell you is is that this stock like many of these high growth stocks that do not have earnings is for sale and I don't know when they're gonna stop boy it'll be very clear he'll at least bounce and I would not sell work so to speak Utz but the assemblers if I owned it but beware the sellers are just gunning for these stocks and moving into the lower multiple price range and that's a rotation that is severe enough for me to tell you all right we did I like the company I'm not changing my mind I like coming to stop itself it's just in the wrong hands we've been seeing a wholesale revision of what safe and cheap and that's why your high growth stocks like a slack aren't working don't take the rotation first oh man let me tell you soon video crush Jerry's stocks being getting crushed I'm gonna get to the bottom of the climb of the CL then it's dollar to braces for new tariff laying expenses that's a stop I made a bargain or did you miss the discount i sat down with the CEO one of the remodel stores and it's about the tough over 100 percent this year loan and it may not be on your radar although because this up 100 percent its first sale I'll reveal the name and see if that decline will continue stay with flavo
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