Jim Cramer says 'if we are talking about just any old retailer, I would say it's time to sell. A miss is a miss. But Home Depot is different.'
Home Depot's stock was shaken up for missing Wall Street estimates in the last quarter and it created a good opportunity for investors to buy, CNBC's Jim Cramer said Tuesday. While the home improvement company came up short in earnings and revenue in its fourth quarter report before the bell and gave a weaker-than-expected forecast for the year, the "Mad Money" host highlighted its new $15 billion stock buyback and 32 percent dividend increase.
Investors may be tempted to ditch the stock because broader housing numbers have been weak, Cramer said. Existing home sales last month dropped 8.5 percent compared to the year prior, reaching its lowest mark in more than three years. Home prices rose modestly, which could signal that momentum is easing in the housing market. But Cramer called Home Depot, a stock he has covered for decades, a"cash machine," citing that the company generated $13.
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