Cramer picks companies that stand out during earnings season

Scott Mlyn | CNBC
  • CNBC's Jim Cramer on Wednesday highlighted companies he thinks have come out of earnings season as winners.
  • These companies include chipmaker AMD and industrial names Trane Technologies and Eaton.

CNBC's Jim Cramer on Wednesday told investors which companies he thinks have distinguished themselves during earnings season.

"The problem, as I see it, is that we haven't really pointed out which companies have really distinguished themselves this earnings season, because we've been so focused on the market's wild day-to-day gyrations," he said. "That stops right now, right here. Tonight, I'm going to tell you who did what for us lately and what happened when they did."

Cramer first pointed to chipmaker AMD whose CEO Lisa Su said this week that revenue from graphics processors used in data centers is poised to soar thanks to the company's use of artificial intelligence. AMD finished Wednesday up nearly 10%, and Cramer said he thinks it may have a shot at becoming a serious competitor in the AI graphics chip market. He added that Su's assertion pushed up other stocks in the "moribund AI group," including Nvidia, Microsoft, Amazon, ServiceNow and Adobe.

He also cited industrial names Trane Technologies and Eaton. Trane, once known for heating, ventilation and air conditioning, now bills itself as a sustainability solutions enterprise. The stock jumped a little over 12% by Wednesday's close, bolstered by an earnings report that showed strong organic revenue growth.

Elsewhere, power management company Eaton beat analysts' quarterly profit estimates, reporting high demand for its electrical components and equipment; it rose more than 3% on Wednesday.

"Now, remember, this exercise of rewarding the companies that beat the numbers has only been working inconsistently of late, because we've been so darn worried about interest rates.

"When long rates soar, nobody cares about the earnings I just mentioned," Cramer said. "But we had no worries today because the Fed just spoke and the Treasury just rolled out a jolly benign bond issuance schedule."

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Nvidia, Amazon and Microsoft

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