Basically the entire planet is the company's bright spot. Pinchuk said sales remain strong in Asia and yes, even in Europe. He was especially enthusiastic about China since, unlike America where there are 300 million cars on average 11 year old, China has 60 million cars, most of which are brand new. That means the coming boom in auto repair has yet to begin and Snap-on is positioning itself to become a dominant player.
Cramer once again praised Snap-on for proving that quality products can indeed be made in America. He continued his recommendation of the stock.
Know Your IPO
In the "Know Your IPO" segment, Cramer followed up on a few recent initial public offerings to separate the good from the bad and the ugly. He said Thursday's IPO of dollar store chain Five Below (FIVE - Get Report) rallied as expected, giving investors a 53% gain. But they must now keep their discipline and take profits.
So what of other recent IPOs? Cramer said Synacor (SYNC - Get Report) and Supernus Pharmaceuticals (SUPN - Get Report) have both been winners and investors need to take a victory lap and take profits. Synacor is up 160% since its IPO, while Supernus has delivered a 197% gain.In the loser's corner, Cramer singled out Ignite Restaurant Group (IRG - Get Report), which announced "accounting irregularities," and WageWorks (WAGE), a stock that's now "priced for perfection." Cramer said both of these stocks need to be sold with prejudice. Finally, Cramer noted Merrimack Pharmaceuticals (MACK - Get Report), a recent IPO that's still worth buying. He said that while speculative, Merrimack concentrates on orphan drugs that often receive special treatment at the Food and Drug Administration. The company is also partnering with Sanofi-Aventis (SNY) on a breast cancer treatment that could be a $1.3 billion opportunity. Investing in Merrimack is playing FDA approval roulette, noted Cramer, but the stock is cheap enough that the company only needs one of its drugs to win in order to rewards shareholders. He said there's no catalyst for the stock, so there's no hurry to get in now.