Squawk on the Street

Cramer's Morning Take: Walt Disney 8/7/24

Jim Cramer says this media company is a ‘buy’. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Duration:: 4m
Broadcast on:: 07 Aug 2024
Audio Format:: mp3

CNBC Investing Club Disclaimer

What's on the horizon for financial markets? At PJIM, it's a question that over 1,400 investment professionals relentlessly research in pursuit of your long-term goals. Specialised across asset classes, but united in collaboration, our teams provide global and local expertise. Our investments shape tomorrow, today. Pursue your tomorrow with PJIM, a leading global asset manager. My dad works in B2B marketing. He came by my school for career day and said he was a big row as man. Then he told everyone how much he loved calculating his return on ad spend. My friends still laugh at me to this day. Not everyone gets B2B. But with LinkedIn, you'll be able to reach people who do. Get $100 credit on your next ad campaign. Go to linkedin.com/results to claim your credit. That's linkedin.com/results. Terms and conditions apply. Linkedin, the place to be to be. I'm Jim Kramer and you're about to hear a sample taken directly from today's CMC Investing Club morning meeting. What we have here today is a good day. Now I got up yesterday, I guess it was today, actually 1.30. And the futures were starting to really get jiggy. And then they just got better and better. Why is that? Because it's all from Japan. We are now starting to think maybe it was a one day glitch. There's obviously worries. Nothing's going wrong systemically. But we do have a problem with consumer more than that in a second. But we are tied with Japan. And when the yen went up, believe it or not, we went up with it. Now, should that be happening? Everything is connected in the world. So it's entirely possible that trillions of dollars are run basically on this fashion of really borrowing against Japanese bonds. So what you're up against is a market that is not being driven by United States, being driven by Japan. Now, in the interim, I can make certain generalizations that I think matter tremendously. For instance, last night we got some series of reports that were very strong. As I mentioned in Mad Money, this morning the opposite. We had TripAdvisor not that strong. We had Airbnb not that strong. That came out really late last night. And most importantly, let's talk Disney. All right, now I spent a lot of time on Disney. And the main reason why I had been reluctant to recommend Disney after we sold it a half of it when I was at 120 was because I felt that we were going to get hurt by streaming. Because streaming had been a black hole. Suddenly streaming has come bouncing back. And that's really what matters. Now, instead, people are focusing on theme park weakness. I was using low, mid-single digit decline theme park weakness. Why? Because Comcast had double digit decline theme park weakness. And there was no way you could get a read through that said that universal parks was going to be much better or worse. Probably I think that I felt it would be similar to Disney. So if I did that, then I would say that I'm not shocked at all by the fact that Disney did not have good theme park attendance, particularly because we know that travel, other than cruise travel, has been not that great. So I think Disney is a point blank buy here, OK? I want to make that point that if we were not frozen, have I not talked about it, it is a buy. And I want that make that point. Start your day with my outlook on the daily market every morning at 10, 20 a.m. Visit cmbc.com/morningtake to access all the benefits of being a CNBC investing club member. All opinions expressed by Jim Kramer on this podcast and in connection with the CNBC investing club are solely Kramer's opinions and do not reflect the opinions of CNBC, NBC, Universal, or their parent company or affiliates. And may have been previously disseminated by Kramer on television, radio, internet, or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC investing club are not an attempt to induce any particular trading behavior, investment, or strategy. You should be aware of the risk of loss in following any strategy or investment discussed in the content from Kramer. To view the full CNBC investing club disclaimer, please visit cmbc.com/investingclubdisclaimer. Want a website with unmatched power speed and control? Try Bluehost Cloud, the new web hosting plan from Bluehost, built for WordPress creators by WordPress experts. With 100% uptime, incredible load times, and 24/7 WordPress priority support, your sites will be lightning fast with global reach. And with Bluehost Cloud, your sites can handle surges in traffic no matter how big. Plus, you automatically get daily backups in world-class security. Get started now at Bluehost.com. [BLANK_AUDIO]