Stocks traded higher Friday as Wall Street rebounded from the previous session's declines that came amid soaring coronavirus cases.
TheStreet's Katherine Ross discussed breaking news in the stock market. Cramer spoke about including Disney's earnings, Ford under chief executive Jim Farley and the impact of new COVID death projections on the economy.
Disney: Buy Or Sell?
Disney (DIS) - Get Report on Thursday reported fourth-quarter results that topped analyst expectations, showing strong growth in its streaming businesses. Disney+, which launched one year ago today, had 73.7 million paid subscribers in the quarter, while Hulu saw paid subscribers jump 28% year-over-year to 36.6 million and ESPN+ subscriptions rose from 3.5 million to 10.3 million.
Cramer said Disney is loved worldwide. "People keep underestimating the value of the brand. I think it's another stock you really want to own. Streaming will always be one division, it'll be very important and movies will start there in some cases. But they will have to get the theme parks going after a vaccine is ready because they are exceedingly lucrative. They're making money even at 25% capacity."
Ford: Buy Or Sell?
Ford (F) - Get Report on Thursday unveiled its first all-electric transit van as the automaker gears up to be carbon-emissions-free by 2050. The Ford E-Transit delivers an estimated driving range of 126 miles. Priced at $45,000, it is expected to arrive late next year, the company said.
Cramer said Ford stock is a buy. "Jim Farley is committed to making money wherever he makes cars and trucks. Not to lose money. The way Ford was going to be everywhere because we are a worldwide company. That's not his attitude. His attitude is we're only going to make money or we're not going to do it. If a country isn't lucrative, if we are making vehicles and not making money off them then we don't do it. This is a new way to look at it."
Covid Impact on the Economy
A coronavirus model projects that deaths due to the virus in the United States will top 400,000 by the end of the year, with 410,000 projected by January 1, according to new data from the Institute of Health Metrics and Evaluation.
Cramer said that's the scenario where everybody stays home and no one goes out and they buy from Amazon. "This is the Steven King scenario because it's too frightful. Everyone is going to fear everybody and no one is going to go anywhere. And that's got to not be the case because that's the self shutdown. But if that many people are dying then there will be a self shutdown."
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