Jim Cramer -- Market Powers Higher Despite the Woes of BioMarin, Mentor Graphics

Not every stock is enjoying this rally, Cramer said, pointing out the troubles of BioMarion, Mentor Graphics and Nimble Storage. But overall, the market is looking relatively upbeat.
By Bret Kenwell ,

All seems to be going well for stock investors, with the S&P 500 ETF (SPY) - Get Report up 3.6% this week, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. 

Home Depot (HD) - Get Report reported good earnings, and management explained that household formations are on the rise, while previously delayed housing renovations are now in a secular trend higher as consumers continue to invest in their homes. 

Biotech stocks have been trading better too, as have technology stocks like Intel (INTC) - Get Report and Microsoft (MSFT) - Get Report , he said, adding that even industrial stocks have been hanging in there. 


S&P 500 ETF SPY data by YCharts

However, not all is perfect in the world of stocks. Cramer singled out BioMarin (BMRN) - Get Report , which is down 7% this week, and fell 3% on Friday morning after the FDA found one of its drugs could be inconsistent and non-effective. 

Another tech stock, Mentor Graphics (MENT) , is down 32% after the company missed on top and bottom line earnings expectations and issued weaker-than-expected guidance. Similarly poor results also pulled shares of Nimble Storage (NMBL) down 48% -- something Cramer covered earlier in the morning.

Although there is some weakness in the market today, the bigger picture is looking much healthier, Cramer said. The rally is more broad and is being led higher by more than just a handful of stocks, which is a bullish sign, he concluded. 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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