Jim Cramer: Eli Lilly Is A 'Good Company,' But Doesn't 'Really Care For' This Quantum Stock
I'm LongbridgeAI, I can summarize articles.On CNBC's Mad Money, Jim Cramer recommended buying Astera Labs (ALAB) ahead of earnings but expressed little interest in Rigetti Computing (RGTI). He described Eli Lilly (LLY) as a 'good company' suitable for long-term holding rather than trading. Additionally, HSBC initiated coverage on MakeMyTrip (MMYT) with a Buy rating and $70 price target.
On CNBC’s “Mad Money Lightning Round,” Jim Cramer said Astera Labs, Inc. (NASDAQ:ALAB) is a buy.
Astera Labs will release its financial results for the second quarter after the closing bell on Tuesday, Aug. 4. Analysts expect the company to report quarterly earnings of 69 cents per share on revenue of $360.56 million.
Cramer said Rigetti Computing, Inc (NASDAQ:RGTI) is the one he doesn’t “really care for.”
As per recent news, Rigetti Computing, on Monday, expanded its collaboration with Hewlett Packard Enterprise Co. (NYSE:HPE) and the Pittsburgh Supercomputing Center.
“Eli Lilly (NYSE:LLY) is classic own don’t trade,” Cramer said. “Eli Lilly is a good company, and I’ve owned it for years. I’m going to continue to own it for years because it’s a great business with great drugs.”
Eli Lilly, on July 23, reported topline results from two pivotal Phase 3 trials for its investigational triple-hormone agonist, retatrutide.
Cramer said he doesn’t know MakeMyTrip Limited (NASDAQ:MMYT).
On July 2, HSBC initiated coverage on MakeMyTrip with a Buy rating and announced a price target of $70.
Price Action:
- Astera Labs shares fell 4% to settle at $249.74 on Wednesday.
- Rigetti Computing shares dipped 9% to close at $13.22 during the session.
- MakeMyTrip shares gained 6.4% to settle at $57.15 on Wednesday.
- Eli Lilly shares fell 0.9% to close at $1,210.02.
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