Stock Market Action Tuesday: IBM Gains, Buy the Dip in Penn National

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Stocks are falling again Tuesday as a standout first-quarter earnings season was being clouded by the rise in new COVID infections as new variants hit Asia and South America.

Here is a recap of TheStreet’s premarket coverage: 

5 Things You Must Know Tuesday

  1. Stock Futures Fall as Wall Street Weighs Earnings
  2. IBM’s Revenue Rise Gets Boost From Cloud Business
  3. Tuesday’s Earnings Calendar: Netflix and Johnson & Johnson
  4. Dogecoin’s Surge Stalls on April 20 or ‘Doge Day’
  5. Elon Musk Claims Autopilot Wasn’t Enabled in Fatal Tesla Crash

Premarket Movers Tuesday

  1. Kansas City Southern  (KSU) – Get Report | Increasing +18.21%
  2. Virgin Galactic Holdings  (SPCE) – Get Report | Decreasing -8.24%
  3. IBM  (IBM) – Get Report | Increasing +2.84%
  4. Abbott Laboratories  (ABT) – Get Report | Decreasing -3.96%
  5. United Airlines  (UAL) – Get Report | Decreasing -3.09%

Here is a recap of the latest stock market action including the top stock gainers, buy-the-dip candidates, volume leaders and advice from Jim Cramer from Monday, Apr. 19.

Top Stock Gainers on Monday

  1. Knoll  (KNL) – Get Report | +35.23% Increase
  2. Futu Holdings  (FUTU)  | +16.28% Increase
  3. Harley-Davidson  (HOG) – Get Report | +9.68% Increase
  4. Clean Energy Fuels  (CLNE) – Get Report | +6.28% Increase
  5. GameStop  (GME) – Get Report | +6.26% Increase

Cramer talked about the Reddit investors sticking with GameStop after the news of CEO George Sherman plans to step down on July 31 and “Roaring Kitty” showed that he exercised 500 GameStop call options expiring on Friday at a strike price of $12, which gives him 50,000 more shares..

Buy-the-Dip Candidates

  1. MicroStrategy  (MSTR) – Get Report | -8.09% Decrease Monday
  2. Peloton Interactive  (PTON) – Get Report | -7.28% Decrease Monday
  3. Penn National Gaming  (PENN) – Get Report | -6.94% Decrease Monday
  4. Chewy  (CHWY) – Get Report | -6.94% Decrease Monday
  5. Moderna  (MRNA) – Get Report | -5.21% Decrease Monday

Cramer urged against buying shares of Peloton as it was down big in trading Monday after the Consumer Product Safety Commission released a video of two children getting swept under Peloton’s treamill product “Tread Plus”. Regular urged consumers who have children or small pets to stop using the product.

Cramer discussed Penn National Gaming during Monday’s Mad Money Lightning Round and said “I think they’re doing very well. I’m sticking by the stock.”

Monday Volume Leaders

  1. Apple  (AAPL) – Get Report | 94,264,195 Shares Traded
  2. NIO Inc.  (NIO) – Get Report | 92,190,700 Shares Traded
  3. Clean Energy Fuels  (CLNE) – Get Report | 69,667,000 Shares Traded
  4. Palantir Technologies  (PLTR) – Get Report | 45,753,800 Shares Traded
  5. General Electric  (GE) – Get Report | 44,875,700 Shares Traded

Apple Maven is preparing for the Apple product launch event Tuesday and reviewed recent history to see how the stock performed after past Apple Events. 

Best of Jim Cramer on Monday

Mad Money Recap: Cramer highlighted several stocks on Monday’s episode of Mad Money including Tesla  (TSLA) – Get Report, Honeywell  (HON) – Get Report, and Peloton.

Stock Market Today: Cramer discussed the latest action with Harley-Davidson, Roaring Kitty’s latest moves with GameStop shares and what to watch with the latest action with Tesla after it dropped over 3% in trading Monday.

Lightning Round: Cramer is bullish on Penn National and Williams-Sonoma  (WSM) – Get Report but says MicroVision  (MVIS) – Get Report is a battleground stock to avoid.

Jim Cramer Live: Cramer discussed the latest stock market news including the potential breakup of Alphabet  (GOOGL) – Get Report, Coca-Cola  (KO) – Get Report earnings, earnings for banking companies and the latest thoughts on Bitcoin and cryptocurrency.

Apple, Honeywell and Alphabet are key holdings in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.