Cramer's 'Mad Money' Recap: Shopping for Stocks
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If the market offers a good price on a high-quality stock next week, take it, Jim Cramer told viewers of his "Mad Money" TV show Friday.
Cramer says investors need to prepare for next week by noting all the companies they like on a shopping list and the price they would like to buy them at. Amid all of the volatility, he emphasizes, there are opportunities in this volatile market if home gamers are ready to take advantage of them.
Fighting DiabetesCramer says Allergan (AGN) is no longer known for just breast implants and Botox, and he's a buyer. Citing an article in The New York Times, Cramer notes that gastric banding surgeries are helping patients with Type 2 diabetes lose weight and live longer. As a result, Allergan's own proprietary gastric banding system, LAP-Band, should flourish. Cramer also likes Allegran for its recession-proof nature, saying it can deliver solid earnings in just about any economic environment. The company also recently announced a new skin-care line it is developing with Clinique, a move that should bolster earnings. Noting that the stock is down 9% from it's recent highs, Cramer says he'd either wait until after the company reports its earnings next week to establish a position, or would buy half a position now and the other half after earnings. Over the long term, Cramer says Allergan is a strong investment.
Why the Sirius Merger Makes SenseFor speculation Friday, Cramer recommended Sirius Satellite Radio (SIRI) on the premise that the proposed merger with XM Satellite Radio (XMSR) will be approved sometime within the next two months. He says there's no reason why the FCC should be dragging its feet or blocking the deal. Cramer sees a 75% chance that the deal will be approved, but likes Sirius as a stand-alone company as well. Cramer cites three reasons why Sirius merger should be approved. First, the combined company would offer more a la carte options than any other medium.
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