Cramer's 'Mad Money' Recap: An Irrational Stock Market
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Cramer said the industrial stocks continue to soar despite having nothing new to say. Meanwhile, Johnson & Johnson (JNJ) saw its shares barely dinged despite cutting estimates.
Know Your IPOIn the "Know Your IPO" segment, Cramer highlighted Zoetis, the animal health division of Pfizer (PFE), which is expected to offer 86.1 million shares next week between $22 and $25 a share. Cramer said that Zoeits plays into the $22 billion animal health market, in which it currently has a 19% share. The new company makes everything from vaccines to feed additives and will derive 65% of its revenue from livestock and the remaining 35% from horses and household pets. Cramer noted that unlike the human health-care market, most animal patient bills are paid out of pocket. When it comes to drugs and vaccines, there is far less generic competition. Given the stock's expected valuation and growth rate of 6%, Cramer said he expects Zoetis to have 20% upside from its IPO.
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