Stocks fell sharply Thursday as a resurgence of the coronavirus has Wall Street worried that new restrictions aimed at curbing the pandemic will lead to a halt in any economic recovery.
TheStreet's Katherine Ross discussed breaking news in the stock market. Cramer spoke about tech stocks like Microsoft and Take-Two Interactive as well as "Biden stocks" that might benefit from a new U.S. China equation.
Take-Two Interactive: Buy Or Sell?
Last week Cramer in his first "Executive Decision" segment on Mad Money, Cramer spoke with Strauss Zelnick, chairman and CEO of Take-Two Interactive the video game maker that posted strong fiscal second-quarter results. Shares of Take-Two are up 50% over the past 12 months.
Zelnick noted it's taken a lot of hard work to get to where they are now, a place where consumers are engaged with new releases and stay engaged between releases.
Take-Two is seeing strength in both console gaming and more casual mobile gaming as well. But in both cases, Zelnick said the pandemic has reintroduced many people to gaming that includes great stories, characters and new communities to share them.
Cramer said the company is going to have a great year thanks to the new gaming cycle, new products and its acquisition of Codemasters is good. "They have a lot of cash why not do something with it rather than have it just sit there and earn nothing. It's a buy and people are just mistakenly selling it."
Microsoft: Buy Or Sell?
"Microsoft (MSFT) - Get Report has built an expansive security offering, evident by the strong showings in our CIO survey. Its security portfolio represents, in our view, an additional $30 billion sales opportunity and is another factor in our confidence for the name," said Barclays analyst Raimo Lenschow in a report on Thursday.
Cramer said that Lenschow rightly pointed out that Microsoft's offering in cybersecurity is better than its competitors. "That was a great report that should be moving Microsoft stock up."
U.S. and China Relations
Cramer said he has been a critic of China for ages. "I have stood with President Trump on this issue for the large part. I think Biden will change our relationship with China dramatically. There will be diplomacy and negotiations. Biden wants to do things with our allies. He doesn't want to go alone. China is outspending us in foreign aid. Our allies want China money, they want nothing more. China will show their gratitude by buying a ton of Boeing (BA) - Get Report Max planes. It's a tremendous time to buy Boeing. That's also why we like Honeywell (HON) - Get Report, Nike (NKE) - Get Report, Starbucks (SBUX) - Get Report, Dupont (DD) - Get Report and Apple (AAPL) - Get Report, they are all Biden stocks."
Take-Two, Apple, Boeing, Honeywell, DuPont, Nike, Microsoft and Starbucks are key holdings in Jim Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.