DuPont reported a "thing of beauty" quarter of April 21, delivering a 16-cent-a-share earnings beat on an 18% surge in revenue. Cramer said costs were down, margins were up and DuPont even boosted its dividend.
Forget the old-line smokestack stocks, said Cramer, what investors really need is an old company with a new vision and profitable growth for the future. They want DuPont.
Speculation FridayFor "Speculation Friday," Cramer spoke with Tom Ward, chairman and CEO of SandRidge Energy (SD), a driller that's transforming itself from a natural gas to an oil company in order to take advantage of rising prices. Shares of SandRidge are up 40% since Cramer first recommended it on March 19, 2010.
Ward said that everything is in place to finish the company's transition to solely oil drilling and so far, everything is going according to plan. He said SandRidge is having great success drilling shallow, high-return wells while keeping their costs constant by using conventional drilling rigs rather than the high-demand horizontal rigs that are rising in price every month.
Ward said SandRidge plans to double its rig count from 12 to 24 this year and has several options to self-fund its expansion on the one million acres it currently controls.Cramer said SandRidge is another great way to play the boom in the oil market, especially now that the speculators are getting flushed out of the market.