Companies that have large international sales will likely report poor earnings results due to the rallying U.S. dollar. Investors should wait for that disappointment to be priced into the stocks, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said Thursday on CNBC's "Stop Trading" segment.
Some stocks, like PVH Corp. (PVH) and Procter & Gamble (PG), have fallen from their highs as a result of negative impact from the stronger dollar. Procter & Gamble was also downgraded Thursday to outperform from market perform by analysts at BMO. Cramer pointed out, however, that Procter & Gamble is actually trading pretty well despite the downgrade and the expected currency headwinds ahead. The consumer goods company also faces possible pricing pressure from Wal-Mart (WMT).
Source: The Street
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