I'm LongbridgeAI, I can summarize articles.Jim Cramer praised Akamai Technologies as 'terrific' following its strong Q2 earnings beat. He advised against investing in Builders FirstSource, citing Home Depot's dominance and the stock's poor performance. Additionally, he highlighted Applied Digital for its profitability and revenue growth, urging a focus on companies generating actual profits rather than relying on margins.
On CNBC’s “Mad Money Lightning Round,” Jim Cramer said Akamai Technologies, Inc. (NASDAQ:AKAM) is “terrific.”
Lending support to his choice, Akami Technologies, on Aug. 6, reported better-than-expected second-quarter financial results.
Akamai reported quarterly earnings of $1.59 per share, which beat the analyst consensus estimate of $1.57 per share. The company reported quarterly sales of $1.099 billion. It beat the analyst consensus estimate of $1.092 billion.
When asked about Builders FirstSource, Inc. (NYSE:BLDR), he said, “My Charitable Trust is getting the stuffies knocked out of it by Home Depot (NYSE:HD). I’m not going to go down the chain and go to Builders FirstSource.”
Home Depot is down more than 10% year to date.
Citizens analyst James McCanless initiated coverage on Builders FirstSource on Aug. 21 with a Market Perform rating.
“I’m really focused on companies that are making money,” Cramer said when asked about Applied Digital (NASDAQ:APLD). “I’m trying to focus on people getting off of margin, and getting to situations where companies are making money.”
On the earnings front, Applied Digital reported fourth-quarter revenue of $258.75 million on July 27, beating analyst estimates of $94.84 million, according to Benzinga Pro. The digital infrastructure provider reported adjusted earnings of four cents per share for the quarter, beating estimates for a loss of 22 cents per share.
Price Action
- Akamai shares gained 4.9% to settle at $110.75 on Wednesday.
- Builders FirstSource shares fell 1.9% to close at $61.39 during the session.
- Applied Digital dipped 4.1% to settle at $27.14 on Wednesday.
See More: Top Momentum Stocks
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