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NEW YORK (TheStreet) -- This market is leaving a bad taste in the mouths of many investors, Jim Cramer told his Mad Money viewers Tuesday as he recapped the best and worst performers of the first quarter.
On the plus side, there were several standout takeovers such as Hospira
(HSP) and Kraft Foods
(KRFT - Get Report), two deals made by very smart acquirers. Then there was Skyworks Solutions
(SWKS), up 34% over the past three months, as the need to connect billions of new devices to the Internet led that company higher. First Solar
(FSLR) was also a big winner on the news it's spinning off a yield-bearing entity.
Health care was also a big theme in the quarter, with Boston Scientific
(BSX) up big. In retail, Urban Outfitters
(URBN) showed the markets how a successful turnaround is done.
But there were the many stocks stuck in the mud, unable to get out of their own way. Sandisk
was among the worst performers, as was Ensco
and Diamond Offshore
in the oil patch, and Ralph Lauren
among the retailers with the biggest currency headwinds.
Professional money managers are always on the hunt for stocks
that have turbocharged growth, and in today's market that need is being met by Kraft Foods and Actavis
(ACT - Get Report)
After its acquisition of Allergan
, Actavis now finds itself with an incredible product portfolio, one that Cramer felt could earn up to $25 a share in earnings by 2017. Given a 20 times earnings multiple, that means Actavis could be worth up to $500 a share. Given that the company's 13 million share secondary offering was snapped up quickly by investors, Cramer felt this fast grower will quickly become a money manager favorite.
Then there's Kraft, a company with a stable of brands that can grow like gangbusters overseas, thanks to its merger with Heinz
, all at a time when its costs are declining. Kraft is now in a "can't miss" situation, and Cramer valued the stock at $100 a share without much effort.
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