Jim Cramer's day by day Rapid Fire looks at stocks within the news outside of the CNBC Investing Club portfolio. Oracle: The tech giant had a mixed quarter. But it announced recent artificial intelligence partnerships with Alphabet's Google and Microsoft-backed OpenAI. Oracle also reported a powerful RPO, short for remaining performance obligation. RPO is the quantity contract customers must pay going forward, and the backlog. “RPO … that was a gigantic number,” Jim Cramer said Wednesday. Co-founder Larry Ellison was “absolutely right on the conference call that the best is yet to come.” Cramer said he regretted not sticking with Oracle for the CNBC Investing Club portfolio, saying he needed to sell Oracle since it missed quarterly numbers too often. Birkenstock: Goldman Sachs downgraded the casual shoe company. “This is a momentum stock, so it's not necessarily going to give up the ghost here,” Cramer said. “But it's expensive compared to its competitors.” Johnson & Johnson: The company settled with states for $700 million over the marketing of its talc-based baby powder. That's positive, Cramer said. But he added that J&J is a significant player within the health care sector and won't run here. Paramount: The deal between National Amusements and Skydance over Paramount fell through. Wells Fargo downgraded Paramount, which is controlled by National Amusements owner Shari Redstone. Cramer is anxious concerning the debt. “Shari Redstone is in big trouble. She should have taken that deal,” he said. Casey's General Stores: The convenience store operator had strong earnings. Cramer talked about Casey's “breakfast pizza, which is an iconic dish that's sold all day.” He has said on “Mad Money” that he likes the stock, which rose 17% after the quarterly results.
image credit : www.cnbc.com