Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Intel : Shares rose more than 4% Monday. The Wall Street Journal reported the American semiconductor firm is in advanced talks with private-equity giant Apollo Global Management over funding for a chip manufacturing facility in Ireland. “Maybe this helps the balance sheet. Who knows how much it costs. … It’s very inexpensive to work in Ireland, but they need to consolidate, not keep growing,” Jim Cramer said. Penn Entertainment : Shares were slightly higher after Bank of America downgraded the casino and sportsbook operator’s stock to neutral from buy. Lower-than-expected market share for ESPN Bet factored into the analysts’ more bearish outlook. “I was very disappointed to hear that the ESPN tie-in was bad,” Cramer said. “This shows you once again: Did Disney know what they’re doing [with ESPN]? Why would they affiliate with a loser like Penn?” The CNBC Investing Club owns Disney . Target , Walmart : Analysts at Evercore ISI added the retail heavyweights to their tactical outperform list in advance of their earnings reports this month. Walmart is set to report Thursday, while Target is slated to do so May 22. “Makes a lot of sense. I think that you want to be in Walmart ahead of earnings. I said I was not sure on Target, but I think Target is pretty good,” Cramer said. Airlines: Analysts at HSBC initiated coverage of Delta Air Lines , United Airlines , American Airlines and Southwest . The firm began with buy ratings on all but Southwest, which it rated as a hold. “People can’t resist the airline stocks. United is my favorite then Delta second,” Cramer said. Arm Holdings : Shares jumped nearly 5% Monday. A day earlier, Nikkei Asia reported that the U.K.-based chip designer is planning to develop artificial intelligence chips with a prototype expected by spring of next year. Cramer noted Arm’s CEO, Rene Haas, previously worked at leading AI chipmaker Nvidia , adding that the executive maintains a good relationship with the company. “You don’t know what Softbank is up to,” Cramer said, referring to the Japanese tech conglomerate that owns 90% of Arm. The CNBC Investing Club has long owned Nvidia.
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