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On CNBC's “Mad Money Lightning Round,” Jim Cramer called Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) a “terrific” stock.
“It's come down a bit,” he said. “It's time to pull the trigger.”
Kratos on Thursday secured a $68.3 million deal for a hypersonic materials testing facility. The company received a contract through the Defense Department’s Industrial Base Analysis and Sustainment Program to design and construct an advanced mid-tier arc-jet and coupled fiber-laser facility for assessing hypersonic materials.
See Also: Kratos Defense Stock Is Trending Up After Hypersonic Testing Contract Win
Cramer also recommended buying drug manufacturer Novartis AG (NYSE:NVS).
The company recently shared topline data from the Phase 3 REPLENISH trial of Cosentyx in patients with polymyalgia rheumatica.
When asked about IonQ, Inc. (NYSE:IONQ), Cramer said, “It's a trading vehicle. I like investing situations.”
IonQ shares rose Thursday, Oct. 23, on news that the Trump administration is in talks to take equity stakes in quantum-computing firms. The company’s shares are up 37.75% year to date at $59.37 per share.
Cramer said Qfin Holdings, Inc. (NASDAQ:QFIN), a China-based company that provides an AI-powered credit technology platform to financial institutions, is not for him.
He likes Alibaba Group Holding Limited (NYSE:BABA) and recommends sticking with it.
On the earnings front, Qfin Holdings reported worse-than-expected second-quarter results on Aug. 14.
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