Jim Cramer reveals what he thinks about Bristol-Myers' bid to buy Celgene.
Bristol-Myers Squibb CEO Giovanni Caforio defended his company's $74 billion bid for cancer drug maker Celgene in an interview with CNBC's Jim Cramer on Wednesday.
"Boy, those were the days. We sure don't have FOMO anymore, do we? Instead, after another ugly session ... we've got FOBS, fear of big sellers," the host said."And that FOBS is putting pressure on the whole market." The company has invested $1 billion to renovate its Family Dollar stores to give it a"wow" factor and the entire enterprise was able to generate about $2 billion of cash flow, Philbin said in an interview with Cramer.Every time Amazon seeks to enter a new industry, stocks of that particular sector drop dramatically, Cramer said.
Kroger and Costco both deliver their latest earnings report on Thursday. Cramer suggests making a wise move.A number of retailers bought back stocks aggressively during the December sell-off to take advantage of weakened prices, Cramer said. Target, he said, is also investing billions into its digital landscape and adding small-format stores in major cities. Home Depot is also putting dollars into its locations, he said.Click here to hear Cramer's take on these and other retail buyback programs
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