Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. GE Aerospace , GE Vernova : General Electric completed its breakup into three publicly traded companies. Its renewable energy and power unit began trading Tuesday as GE Vernova with the stock ticker GEV. Meanwhile, the remaining company retained the GE ticker, but is now known as GE Aerospace. “Its expensive,” Jim Cramer said of GE Aerospace’s stock. “But then again, people want an aerospace play and you can’t have Boeing.” The GE Vernova business “turned out to be far better than I thought,” Cramer acknowledged. Cramer’s CNBC Investing Club has owned shares of GE Healthcare for nearly a year . UnitedHealth Group , Humana : Shares of health insurers including UnitedHealth and Humana fell Tuesday in response to the Biden administration’s final rates for Medicare Advantage payments. “It’s an election year, and this is something that hits seniors. So, I was a little surprised that people were so bullish about what could happen,” Cramer said. Tesla : The electric vehicle maker’s first-quarter deliveries fell short of Wall Street estimates, sending shares lower by nearly 6% Tuesday. Year to date, Tesla stock is down more than 33%. “Tesla is trading like an automobile company. It was trading like a tech company before. Now it’s automobiles, and if it’s automobiles it’s dramatically overvalued,” Cramer said. In autos, the CNBC Investing Club owns Ford Motor . PVH Corp. : The parent company of Calvin Klein and Tommy Hilfiger offered weak sales guidance after the close Monday amid softness in its European business. Shares tumbled more than 20% in Tuesday’s session. “The reason why everyone is so aghast at this is because we knew they came in with a strong head of steam. How did it turn so quickly? I don’t know the answer,” Cramer said. In retail and apparel, the CNBC Investing Club owns shares of TJX Companies. Paychex : Shares were modestly higher Tuesday, shaking off earlier declines, as investors digested the human resources and payroll services provider’s quarterly report. “”It was a miss, so let’s be very clear: It’s not necessarily a buy. It was a miss on the revenue side,” Cramer said. “That was small and medium size business not doing as well. Interesting.”
