The Nasdaq lost more than 2% on Friday, weighed down by post-earnings declines in Amazon and Intel, after a difficult month for technology stocks. Following Intel’s 28% plunge on Friday, Jim Cramer said he could not justify selling the stock, despite his concerns about a new share offering intended to fund increased spending. He admitted using poor judgment by believing in the longer-term story without considering the short-term outlook, while noting that Intel remained nearly 80% higher year to date. Amazon, Starbucks and FedEx are his three picks, while FedEx Freight shares surged more than 13% following results that beat expectations.
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