“Indra reinvented the company, transforming it from a carbonated soda and salty snacks business into a more diversified operation with many healthy offerings. I’ve come to respect her not only for her business acumen, but, perhaps more important, for her leadership role as an executive focused on doing good works worldwide,” the “Mad Money” host said.
“Indra was well ahead of the curve on important issues like diversity, equality and sustainability,” he continued. “I’m hoping she stays on as a highly visible role model for everybody, especially billions of women, around the globe.”
As for the actual report, Cramer expected a good quarter that would send the stock higher, but warned that “the sector remains extremely out of favor” on Wall Street.
Paychex: The Federal Reserve’s latest interest rate hike is “basically free money” for payroll processors like Paychex, but this quarter, the old-line administrative giant may have run into a problem, Cramer said.
“The competition among companies that advise on business services like retirement savings — one of their smaller divisions — has gotten very fierce,” he said ahead of the company’s Tuesday earnings report.
“More important, we know that Square, the ambitious point-of-sale kingpin that we like so much, has decided to get into the payroll processing business itself. Square’s a big-time disruptor and they’re all about small- and medium-sized business, which is very much Paychex’s wheelhouse,” Cramer continued. “Call me conflicted.”