Cramer's 'Mad Money' Recap: The Market's on a Roll
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NEW YORK (TheStreet) -- The markets are full of great "pin action," Jim Cramer told "Mad Money" viewers Thursday, donning his favorite bowling shirt and shoes and brandishing his bowling ball. To continue the metaphor, Cramer told viewers the ball is now rolling and the market is coming up with lots of strikes.
Today's good news started in China and Europe, which was great for all of the mining, minerals and metals stocks. The short squeeze on stocks like Caterpillar (CAT) may finally be over, as these international markets finally stabilize, he said.
But the good news didn't stop there. Cramer said the oil stocks followed suit, with Exxon Mobil (XOM) and EOG Resources (EOG) just two of the many oil stocks on the move higher today. There was strength in the transports and the rails as well as hopes of more commerce picks up.With jobless rates falling, spending should be picking up as well, said Cramer, which is why everything from Starbucks (SBUX) to VF Corp (VFC) headed higher, as did the banks, which have been reporting fewer loan losses this quarter. Another standout has been the mobile Internet, with Yelp (YELP) shooting the lights out, rising 23% in a single day. Everything from Trulia (TRLA) to Zillow (Z) saw the "pin action" from that news. And the strikes kept on coming, said Cramer -- from FedEx (FDX) to Amazon.com (AMZN) and Netflix (NFLX). No matter where you look, the pins are flying, Cramer concluded. That's great news for investors.
Executive Decision: David PyottIn the "Executive Decision" segment, Cramer spoke with David Pyott, chairman and CEO of Allergan (AGN), a stock which was under pressure last quarter but was able to deliver a 2-cents-a-share earnings beat this quarter on a 10% rise in revenue. Pyott responded to critics by saying everything is looking good at Allergan and he was very pleased to exceed its guidance and Wall Street's expectations on just about every metric. He also commented on the generic competition for the company's dry-eye product, which has many analysts worried.
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