Jim Cramer Predicts Pepsi Goes Lower: 'It's Just Become Too Darn Hard'

On CNBC’s “Mad Money Lightning Round,” Jim Cramer said PepsiCo, Inc. 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. 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 OXY is “ok,” Cramer said. “Coterra 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. 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.

Read Next:

Image: Shutterstock