Cramer flags Amazon, Starbucks and FedEx as buys as Intel selloff deepens

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Cramer flags Amazon, Starbucks, FedEx

Highlights

Intel sinks 28% on Friday after secondary offering news, but Cramer avoids recommending buys or sells as shares remain up 80% year-to-date.
Amazon reverses early losses, closing only 2% lower, with Cramer highlighting stronger company fundamentals versus recent market reaction.
FedEx Freight jumps over 13% after earnings beat and internal improvement updates, while Starbucks drops 2% but retains buy status due to upbeat outlook and margin progress.

Market slide shapes Friday stock calls

As reported by CNBC Investing, Cramer says he cannot rationalize selling Intel after the stock drops 28% on Friday, even though he says he feels misled by the recent secondary offering that raised money for additional spending. He says chief executive Lip Bu Tan's heavy participation in that share sale had reinforced his longer-term conviction, but Friday's move does not look like a clearing event to him.

Intel remains up nearly 80% year-to-date, which is why Cramer says he cannot recommend buying the latest decline. Amazon, however, is a buy in his view. After opening sharply lower and falling as much as 6%, the stock cuts its losses to about 2%, and Cramer says conditions at the company are stronger than the market reaction suggests.

Consumer and transport picks add to buy list

Starbucks is also a buy for the Investing Club team, despite the stock falling more than 2% after what they describe as a strong quarter and an upbeat holiday outlook. Portfolio director Jeff Marks says the weakness may reflect profit-taking after a recent run higher, while Cramer says the company fits the market's current preference for higher-growth names.

Marks says Starbucks issues solid growth guidance and posts margin improvement, adding that the company is about a year ahead of its margin target. In transport, FedEx Freight emerges as the session's standout gainer, rising more than 13% after earnings beats and encouraging comments on internal improvement efforts. Cramer also sees FedEx as a buy, although he says he would be cautious about chasing the parent company's nearly 3% advance on Friday after management recently discussed labor issues.

In our earlier analysis of the S&P 500 (SPX) pullback, we noted that the index slipped as tech and AI stocks briefly rebounded on earnings while broader pressure persisted amid rising Treasury yields. The report highlighted weakening short- and medium-term technicals, with SPX trading below key moving averages and facing a fragile consolidation, making the next move highly dependent on breaks of nearby support and resistance levels.

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