DSW Inc. (NYSE:DSW) beat the estimates and posted the second quarter earnings $0.37 a share and revenue of $587 million. Wall Street analysts were forecasting profits of $0.32 a share on sales of $565 million. In a program on CNBC, Jim Cramer discussed the DSW Inc. (NYSE:DSW) stock and said that it is a great option for investors as the shoe maker is coming back up in business. He thinks that DSW is underrated and investors must make the move to grab the stock.
He said that the company had a terrific quarter and sales are up, which is an indicator that the company is getting back into pace. He also said the CEO of DSW Inc. (NYSE:DSW), Michael MacDonald, is talking a lot of good things and looks very optimistic about the company.
“This is a comeback story, I felt that if it didn’t move up, private equity might get involved,” said Cramer.
Cramer also mentioned GT Advanced Technologies Inc (NASDAQ:GTAT), which is one of Apple Inc. (NASDAQ:AAPL)’s suppliers. He said that GT Advanced Technologies Inc (NASDAQ:GTAT) is going to experience a great growth because of the reports that it will be producing Sapphire Glass screens for Apple Inc. (NASDAQ:AAPL)’s iPhone 6.
“[…] They have the sapphire product that is going to go in the iPhone 6 launch, there is a lot of guess work about how much sapphire is going to be in, everybody who has a broken screen iPhone should take a look at this GTAT, this is the stock I have been recommending […],” said Cramer.
He said that GT Advanced Technologies Inc (NASDAQ:GTAT) will experience a boost only if Apple Inc. (NASDAQ:AAPL) uses the sapphire screen in the iPhone 6.
Israel Englander is one of the top shareholders of DSW Inc. (NYSE:DSW), having approximately 700,000 shares of the company. Kerr Neilson is one of the biggest shareholders of GT Advanced Technologies Inc (NASDAQ:GTAT) owning approximately 2.5 million shares of the company.