'Before you get the new buyers coming in, you get the sellers,' CNBC's Jim Cramer said Wednesday.
Jim Cramer 's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. FedEx : Shares surged 14% after the delivery giant reported better-than-expected fiscal fourth-quarter results. The numbers show what can happen when a company's revenues are roughly stable "but you get costs. That's what that is. It's a cost-cut story," Jim Cramer said. Southwest : The Texas-based airline lowered its second-quarter revenue outlook, pressuring the stock.
" Rivian : Shares surged 28% after the electric vehicle startup secured up to $5 billion in investments from Volkswagen. The investment is part of a joint venture, which also will work to develop next-generation EV software. Cramer noted that there were concerns about Rivian's future funding paths. "That turned out to be wrong," Cramer said. Chipotle : Shares are lower by roughly 1.5% after the fast-casual chain's 50-for-1 stock split went into effect.
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