Investors are increasingly looking for promising opportunities in a market characterized by volatility and swift shifts in momentum. As companies release their earnings reports, standout performances are capturing attention and influencing investment decisions.
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Globalstar, Inc. (NASDAQ:GSAT) is “finally breaking out.”
Lending support to his choice, Globalstar, on Aug. 7, reported better-than-expected second-quarter financial results. Globalstar reported quarterly earnings of 13 cents per share, which beat the analyst consensus estimate of a loss of 5 cents per share. The company reported quarterly sales of $67.148 million, which beat the analyst consensus estimate of $63.138 million.
When asked about New Gold Inc (NYSE:NGD), he said, “If it's gold, it's going higher.” However, he prefers Agnico Eagle Mines Limited (NYSE:AEM) over New Gold.
On the earnings front, New Gold, on July 28, reported quarterly earnings of 11 cents per share which beat the analyst consensus estimate of 9 cents per share. The company reported quarterly sales of $308.400 million, which missed the analyst consensus estimate of $323.700 million.
Price Action:
- Globalstar shares gained 3% to settle at $32.09 on Tuesday.
- New Gold shares fell 4.6% to close at $6.43.
- Agnico Eagle Mines shares fell 0.9% to settle at $152.40 on Tuesday.
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