Toll Brothers reported better-than-expected earnings, seeing a 6% stock increase. Jim Cramer highlighted it as a remarkable quarter, emphasizing a shortage in their $1 million homes market.
Target's shares surged 13% after outperforming earnings and revenue expectations. Cramer noted this as the first real upside surprise after a prior quarterly miss negatively impacted the stock.
Macy's lowered its full-year sales outlook, leading to a 13% drop in stock value. Cramer found this concerning as it indicates low confidence heading into the back-to-school season.
American Express was downgraded by Bank of America to a hold, resulting in a 3% stock decline. Cramer pointed out that the stock has faced continued downgrades but has a renewed appeal to younger affluent consumers.
Texas Instruments received a stock upgrade from Citi. Cramer commented on the positive impact of activist investor Elliott Management on the company's capital allocation strategy.
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