Stocks fell sharply Tuesday with shares of tech giants remaining under pressure as investors rotated into higher-yielding value stocks and sectors poised to benefit from the economy’s recovery.
TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Lowe’s stock, drug stocks and the larger tech selloff coloring the markets on Tuesday.
Pfizer: Buy Or Sell?
Health-care group Pfizer (PFE) – Get Report posted stronger-than-expected first-quarter earnings and lifted its full-year profit guidance. Pfizer expects to generate around $26 billion in worldwide sales of its coronavirus vaccine.
Cramer said investors should buy Pfizer stock because the amount of money they’re making will allow them to be able to buy growth. “They can go buy a company with the gigantic sums of money they’re making. They need to buy growth it only sells at 11 times earnings so that’s a great opportunity,” said Cramer.
Lowe’s: Buy Or Sell?
People are still spending on their homes, which makes Lowe’s (LOW) – Get Report a great buy, Cramer told his Mad Money viewers Monday.