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"I felt like they blamed everything under the sun. They blamed taxes, they blamed weather," she said. Cramer agreed, noting that Wal-Mart struggled with entertainment and apparel. "It was a bad quarter," he concluded.
But not everything was bad. Cramer added, "The only bright light is they said, 'May is good.'" He thinks the problems in the quarter are a one-time event and he trusts the management on this. Borchardt pointed out that gardening and outdoor will be gaining traction soon, prompting Cramer to say he's a buyer, rather than a seller at this price."I think the negatives are ending," he said. He believes the stock could go to $83 or $84 based on market strength. -- Written by Bret Kenwell in New York.