Cramer Praises Akamai Tech Stock Amid Home Depot Slump
On CNBC's 'Mad Money Lightning Round', Jim Cramer identified Akamai Technologies (NASDAQ:AKAM) as a 'terrific' tech stock.
The company reported better-than-expected second-quarter financial results, beating analyst consensus estimates in both earnings and revenue. Akamai posted quarterly earnings of $1.59 per share, surpassing the estimated $1.57 per share, with quarterly sales reaching $1.099 billion, exceeding the predicted $1.092 billion.
When discussing Builders FirstSource (NYSE:BLDR), Cramer stated that his charitable trust is being 'knocked out' by Home Depot (NYSE:HD), which has dropped over 10% year-to-date.
Akamai shares rose 4.9% to close at $110.75 on Wednesday, while Builders FirstSource dipped 1.9% to settle at $61.39 during the session.