On CNBC's "Mad Money Lightning Round," Jim Cramer said he likes MPLX LP (NYSE:MPLX) very much, adding, "That's a very good situation."
MPLX recently reported better-than-expected results for its fourth quarter. The company posted earnings of $1.10 per share, beating expectations of 94 cents per share. Its sales came in at $2.97 billion, versus market estimates of $2.85 billion, according to data from Benzinga Pro.
"We're going to let these stocks come in a little here," Cramer said when asked about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). "We cannot be so eager to buy the first dip."
Taiwan Semi recently clocked a 7.9% year-on-year revenue growth in January 2024 to NT$215.79 billion ($6.9 billion). The critical Apple and Nvidia supplier experienced a sales increase in January, driven by strong demand for AI chips, which helped counterbalance the ongoing decline in consumer electronics, Bloomberg reported.
The "Mad Money" host recommended to "ring the register" on Celestica Inc. (NYSE:CLS). "You're literally going to sell one-third of it. Celestica is a very dicey situation," he added.
Celestica recently reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates. The company also appointed Kulvinder (Kelly) Ahuja to its Board of Directors.
Price Action:
Shares of MPLX gained 0.7% to close at $39.32 on Tuesday.
Taiwan Semiconductor shares fell 1.1% to settle at $125.33.
Celestica shares fell 5.2% to settle at $37.46 on Tuesday.
