Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Tesla : Shares fell more than 4% after the electric vehicle maker issued another round of price cuts in major markets including the U.S., Germany and China. “The idea is that Tesla is going to report a loss and they haven’t sold a lot of [Cybertrucks] and they’re giving cars away in order to meet the cash flow. I think you have to wait to see what they say rather than make a judgement,” Jim Cramer said. Cisco Systems : JPMorgan analysts resumed coverage of Cisco Systems with a neutral rating and $53 price target, citing a muted medium-term earnings growth outlook. Prior to their pause in coverage, analysts had a buy-equivalent and $62 price target on the stock. “This is brutal because what it says is [CEO] Chuck Robbins gave you nothing when they bought Splunk,” Cramer said. Verizon : Shares fell nearly 3% after the telecommunications giant delivered an earnings beat and lost fewer-than-expected wireless subscribers in the three months ended March 31. “I had said that this Verizon is not good. It looks like that was right,” Cramer said. Prologis : BMO Capital Markets downgraded the stock to a hold-equivalent rating, citing a “murky” outlook. Shares of the real estate investment trust, which focuses on the logistics industry, were slightly lower Monday. “The company would totally disagree with this. They’re talking about 97% occupancy falling to 96%,” Cramer said, while acknowledging some markets such as New Jersey and Seattle started to show softness. Papa John’s : Shares rose about 1.5% after analysts at Stifel upgraded the pizza chain to hold from sell, contending expectations are reasonable. “There’s no need to own this,” Cramer said, referring to Papa John’s stock. “I’d rather own Yum , frankly. Yum offers more value and you get Pizza Hut.”
