Stocks fluctuated Wednesday, a day after the S&P 500 and Nasdaq both set record highs, but were off earlier lows as oil prices moved higher and energy shares rose.
The Dow Jones Industrial Average declined 10 points, or 0.04%, to 29,813, the S&P 500 was up 0.01% and the Nasdaq fell 0.22%.
TheStreet's Katherine Ross discussed breaking news in the stock market. Cramer spoke about the Salesforce and Slack acquisition, the U.K.'s approval of the Pfizer vaccine and McDonald's stock in a no seating world.
Salesforce: Buy Or Sell?
Shares of Salesforce (CRM) - Get Report were dropping a day after its announcement that it is planning to buy Slack Technologies (WORK) - Get Report for nearly $28 billion.
Cramer said Salesforce did a deal and seven out of the seven analysts hated it. "They just said like how could this have ever happened. For a variety of reasons [the analysts] felt they paid too much. Marc said he was not going to do any M&A. Slack is a losing proposition it can't take on Microsoft. These people are all wrong. Marc has always said the best companies are those that got away before you can buy them but once you're in the public market it doesn't mean you're just done. I believe this will take some time and then Salesforce will start going up again."
Pfizer: Buy Or Sell?
Pfizer (PFE) - Get Report and its German partner BioNTech (BNTX) - Get Report received the first formal approval for any globally-available coronavirus vaccine Wednesday following a nod from health officials in Britain. The U.K.'s Medicines and Healthcare products Regulatory Agency (MHRA) agreed to the emergency use of the pair's messenger-RNA based vaccine
Cramer said this is very good news for our country and it's not being greeted as it should be by the stock market. "This is the first news development that has really moved the needle for Pfizer. It does show that Pfizer has the capability of maybe four more vaccines than people realize. 40 million dozes mean 20 million people are going to get it. I would point out that the bottleneck that could happen in our country is only from a few areas that are not covered by Wallgreens or Walmart or CVS. We will be ready to go the moment the FDA says yes and the pressure on the FDA is going to be remarkable."
McDonald's: Buy Or Sell?
McDonald's (MCD) - Get Report popular barbecue pork sandwich, the McRib, is back with a sweet, saucy vengeance starting Wednesday, for the first time in more than eight years.
Cramer said the analysts that cut numbers met with the company. "They said there are some issues to do with the mobility of customers. These issues have not been dogging Chipotle. Chipotle (CMG) - Get Report has been able to make a ton of money even in the no seating world. Maybe it means that a lot of people did go to McDonald's and sit there and that's done or that's minimized. McDonald's is being cryptic about this but obviously, the numbers aren't being made."
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December 03, 2020 at 03:04AM
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Stock Market Today With Jim Cramer: Salesforce Will Rise Again - TheStreet
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