Cramer's 'Mad Money' Recap: Europe, Earnings to Dominate Week
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NEW YORK (TheStreet) -- Next week will be all about European governments, Jim Cramer told a live studio audience on his "Mad Money" TV show Friday. He said that while the Greek elections will be on everyone's minds, there are still a number of American companies that will do well regardless of the outcome.
On Monday, Cramer said he'll be watching for the U.S. Supreme Court's decision on President Obama's health-care plan. He said that if Obamacare is turned down, large employers including Wal-Mart (WMT), Target (TGT) and Home Depot (HD) will be the beneficiaries.Tuesday brings the Federal Reserve meeting. Cramer said with interest rates already approaching zero there isn't a lot more the Fed can do to spur the economy. That's why he'll be watching the FedEx (FDX) earnings for a read on the global economy instead. Also on the list for Tuesday, Jabil Circuit (JBL), a company that take down a lot of tech names if it does poorly. For Wednesday, it's Bed Bath and Beyond (BBBY) and RedHat (RHT). Cramer said to buy Bed Bath on any selloff after earnings and buy RedHat ahead of earnings. Then on Thursday it's CarMax (KMX) and Oracle (ORCL) taking the stage. Cramer said Carmax is also a good economic indicator, but Oracle may be a speculative buy ahead of their earnings. Finally, on Friday Darden Restaurants (DRI) reports. Cramer said this stock has run up big and expectations are too high for the company to meet.
Coach vs. KorsEvery stock has a price that's right, Cramer told his audience as he compared two prominent luxury goods retailers, Coach (COH) and Michael Kors (KORS). Cramer said while both of these stocks have been hammered on fears that no one can afford luxury goods, one of these names is a buy now while the other will be a screaming buy in the coming weeks. Cramer explained that Kors has delivered an astounding 96% gain since its initial public offering, but there's a problem. Starting in a week or so, insiders will be allowed to sell their shares as the lockup period expires. This is known as an "overhang" for the stock, said Cramer, and it's why, despite fabulous earnings this week, the stock is still heading lower.
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