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Grading the Dow Earnings; Reality Check, Anyone?: Jim Cramer's Best Blogs

NEW YORK (TheStreet) -- Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

  • what the earnings reports from the Dow mean, and
  • how some companies manage to outwit the bears.

Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.


Grading the Dow Earnings (Part 1)

Posted at 8:32 a.m. EST on Thursday, Jan. 30

Must Read: Jim Cramer: Chipotle's Simple Winning Ways

Almost two-thirds of the Dow Jones Industrial Average has now reported and I know that the venerable index has been clubbed of late, down 5% for the year. We have to ask if it deserves that level of punishment.

Frankly, I don't think it does.

Let's check the report cards so far, keeping in mind their potential for weakness from the emerging-market turmoil.

First, the As.

1. JPMorgan Chase (JPM - Get Report) reported among the best quarters of any of the financials, yet it has been pretty much in a straight line down since it announced its figures and, at one point, was down almost 10%. JPM has some Chinese exposure and, as part of a worldwide bank, it is always going to be impacted by emerging markets. But this is not Citigroup (C), which has made its bed in those peripheral countries. I think that JPM is a buy right here.

2. American Express (AXP) had its finest quarter in years, balanced growth, expenses under control, reflecting strong individual travel and corporate travel, as well as nascent business formation. Yet it has sunk to $85 from $91, where it was before a fabulous quarter.

3. DuPont (DD) looked real good and, frankly, I think that its re-shaping from commodity to proprietary is going along better than expected. Yet it briefly traded all the way down to $59, where it yielded 3% from $64, where it was before the quarter.

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