Analysis: DD NVDA MRVL AMD WMT AEO

In today's Daily Rundown, Jim Cramer discusses the markets, DuPont (DD) earnings, Nvidia (NVDA) , Marvell Tech (MRVL) , Advanced Micro Devices (AMD) , Walmart (WMT) , American Eagle Outfitters (AEO) , and more!

JEFF MARKS: Happy Tuesday, everyone. This is the Daily Rundown, exclusive for members of Action Alerts Plus. I'm standing live on the floor of the New York Stock Exchange with Jim Cramer. Jim, we're seeing some pressure in the markets. We did open green. Is it concerns about delta you think could be a reason for the selling?

JIM CRAMER: August is a kind of a doomed month. You have a lot of people who take profits in August who want to take some time off. They want to close out the books. It's a time-honored philosophy when things are up big, which is this year.

We're seeing stocks that open up that are suddenly under pressure, and that's a sign that people just are looking to get out. Salesforce up a buck and then now down badly. And I find that Marriott-- obviously, they decided that Marriott wasn't any good, even though it was obvious that Marriott wasn't any good.

There's still a couple of stocks they haven't gotten to, like Medtronic. They haven't gotten to a 3M, but these are quizzical. Like, I don't know why they haven't gotten to them.

JEFF MARKS: Well, one stock that was up premarket off of a better than expected quarter and a raised full-year guidance was DuPont. Now we are seeing the stock-- it reversed early this morning well after the conference call was over too, which is quite interesting. What do you think about the quarter?

JIM CRAMER: That's that hidden sell. People want to get out because the quarter was excellent. They have eight divisions. Two were not so strong, but the rest were. Passed on costs.

They've really done an amazing job. They've got semiconductors. They have auto, which are all really on fire, and people hate it. And I think that that's to show that there's something else going on, that there are people who want out. And when people want out, this is what you get.

JEFF MARKS: All right, now let's move on to Nvidia. JP Morgan raised their price target to 215 this morning. You have to remember they did the four-for-one stocks not too long ago. They go to 215 on stronger than expected data center revenue. In the future, what do you think about Nvidia, the semis in general? We did take off a little AMD yesterday.

JIM CRAMER: AMD and Nvidia are the two that have the chips that America wants. They do high performance computing. AMD has it and so does Nvidia. By the way, Marvell with a really interesting acquisition to boost its high performance computing cloud business, which therefore makes it so there's less pressure on 5G. Very good acquisition by Marvell.

But I just think-- by the way, the Marvell motivating-- that's against Broadcom. May have to talk about-- we have a very small position still in Broadcom. It goes up quite a deal-- quite a bit. But I want to maintain a position in Nvidia, and the main reason I want to is because I think that if they get Arm, it goes immediately up 50%. Arm's really important for them.

JEFF MARKS: Yeah, so-- and also, Jim, with these delta concerns today, we're also seeing some pandemic winners like the WATCH stocks. Walmart, Amazon, Target, Costco, and Home Depot, they're all acting pretty well I'd say. Walmart, I saw, was up pretty decent. What do you think about the move in Walmart today?

JIM CRAMER: See, I don't like the move-- and I'm tempted to sell some Walmart. I'll tell you why. This is not March of 2000-- of 2020. We're not locking things down, so the idea that Walmart is somehow going to take share, uh-uh. We're going to have to sell some Walmart today I think.

JEFF MARKS: That will be something that we'll--

JIM CRAMER: Right? we have to.

JEFF MARKS: Yeah, we'll continue to look forward-- I mean, it is-- now at the same point, Jim, I can make the case that it has lagged year to date.

JIM CRAMER: I know.

JEFF MARKS: So maybe there's a catch up.

JIM CRAMER: How big is the position right now?

JEFF MARKS: We got, I want to say, somewhere around three, but it is up. The last time I checked, it was up about 1%. So on a day where we are seeing some pressure, maybe we could redeploy that capital elsewhere.

JIM CRAMER: Arguably, as I was taught, if you have a stock up $1 when there's selling pressure, it could be up two. So in that sense, maybe we'll go. We'll let it ride.

JEFF MARKS: We'll revisit it shortly after this video.

JIM CRAMER: Let it ride.

JEFF MARKS: And we'll update everyone on what we think.

JIM CRAMER: Look, I spent a lot of time with technicians just because this is a very technically-driven market, and the historic pattern here is bad. The beginning of August is bad and stays bad until the middle of August, end of the middle of August. So what you might be fighting is the historicals because the historicals say sell.

Now I don't want most people to sell. I mean, we're not going to sell a lot. But recognize that, without a doubt, this is a very weak historical period, and don't take your cue from the stocks because they may not be right. DuPont.

JEFF MARKS: Yeah, and another stock that is curiously down-- I did see it open up, I believe, and now it's curiously down around 2%, 3%, American Eagle Outfitters. And we saw really strong results out of Ralph Lauren this morning, so--

JIM CRAMER: Enough already.

JEFF MARKS: --what do you think is going on there?

JIM CRAMER: I mean, Ralph Lauren had something like 17 straight quarters of good numbers. Well, American Eagle's got the same reputation.

JEFF MARKS: Through Aerie.

JIM CRAMER: Yeah, I just feel very strongly that that company has to be bought. If Simon Properties is good, they're in every one of the Simon Properties malls, so let's go. Let's go. You buy that stock.

JEFF MARKS: All right, Jim, anything else to add for today? Markets are lower, as I mentioned before.

JIM CRAMER: Well, I just want to point people out that there is-- when you see action that is negative, but there's nothing to be negative about, remember all the technical negative people who say this is historically a great period to sell.

JEFF MARKS: All right, we'll leave it right there. That's the show for today. I'm Jeff Marks. We'll see you tomorrow.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long DD, NVDA, MRVL, AMD, WMT and AEO.