On CNBC's "Mad Money Lightning Round," Jim Cramer said PepsiCo, Inc. (NASDAQ:PEP) goes lower. "It's just become too darn hard," he added.
On Oct. 8, PepsiCo reported mixed third-quarter results and lowered its 2024 organic revenue guidance. The company reported a third-quarter net revenue decline of 0.6% year-over-year to $23.319 billion and organic growth of 1.3%, missing the consensus estimate of $23.825 billion. Adjusted EPS of $2.31 beat the consensus estimate of $2.29.
Intuitive Machines, Inc. (NASDAQ:LUNR) makes no money, Cramer said.
On Nov. 14, Intuitive Machines reported third-quarter revenue of $58.48 million, beating analyst estimates of $50.89 million, according to Benzinga Pro. Total revenue was up 359% on a year-over-year basis. The company reported a net loss of $80.44 million, versus net income of $14.31 million in the prior year's quarter.
Occidental Petroleum Corporation (NYSE:OXY) is "ok," Cramer said. "Coterra (NYSE:CTRA) is the way I like to do this thing."
Occidental Petroleum reported quarterly adjusted earnings of $1.00 per share, beating the analyst consensus estimate of 74 cents. Quarterly revenue came in at $7.15 billion, missing the consensus estimate of $7.23 billion.
Cramer said Globe Life Inc. (NYSE:GL) is "fine. It's not exciting, it's not boring, it's just fine."
On Nov. 18, Globe Life announced that its Board of Directors has approved an authorization to repurchase up to $1.8 billion of common stock under its existing stock repurchase program.
Price Action:
- Intuitive Machines shares fell 3.9% to settle at $12.07 on Wednesday.
- PepsiCo shares gained 1.3% to close at $158.74.
- Occidental Petroleum shares gained 0.8% to close at $50.91.
- Globe Life shares fell 0.5% to settle at $108.76 during the session.
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