Carl Quintanilla and Jim Cramer discuss the end to the shortest bear market in S&P 500 history. Stocks getting a boost from blowout results from retailers Target & Lowes, both hitting record highs at the open. Target reported a monster quarter with profit jumping 80%, and same-store sales set a record. And Lowe’s also reported a blow-out quarter with a 30% surge in revenue. Southwest dropped an updated 8K outlook and financial results for July and August. The big takeaway, the company’s core cash burn decreased. And Oracle gets a nod of support from President Trump over a possible acquisition of TikTok. The President saying, “I think Oracle is a great company, and I think its owner is a tremendous guy. He's a tremendous person. I think that Oracle would be certainly somebody that could handle it. Yeah. We gave them until September 15th.”
Squawk on the Street
Shortest Bear Market in S&P 500 History, Blowout Results: Target & Lowe’s Hit Record Highs, Lowering Its Cash Burn
Carl Quintanilla and Jim Cramer discuss the end to the shortest bear market in S&P 500 history. Stocks getting a boost from blowout results from retailers Target & Lowes, both hitting record highs at the open. Target reported a monster quarter with profit jumping 80%, and same-store sales set a record. And Lowe’s also reported a blow-out quarter with a 30% surge in revenue. Southwest dropped an updated 8K outlook and financial results for July and August. The big takeaway, the company’s core cash burn decreased. And Oracle gets a nod of support from President Trump over a possible acquisition of TikTok. The President saying, “I think Oracle is a great company, and I think its owner is a tremendous guy. He's a tremendous person. I think that Oracle would be certainly somebody that could handle it. Yeah. We gave them until September 15th.”
- Broadcast on:
- 19 Aug 2020