Friday's employment numbers were just what the stock market wanted to hear, Jim Cramer told his Mad Money viewers Friday. With 196,000 new jobs created, there is no reason to worry about a recession, Cramer said, and with tepid wage growth, there's also no need for higher interest rates. But investors need to remember that these Goldilocks numbers were largely already baked into stock prices, which means anything could happen next week.
Cramer said his game plan for next week will start on Monday with the latest factory and durable goods orders. These two metrics should further confirm that a recession is not in the cards for the economy.
Next, on Wednesday, we'll get news from the JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. (JPM) Report retail conference, along with an analyst meeting from ConAgra Foods (CAG) - Get Conagra Brands, Inc. Report and earnings from Bed Bath & Beyond (BBBY) - Get Bed Bath & Beyond Inc. Report . Cramer said he' still not a fan of Bed Bath & Beyond, but he might be if the company gets a new CEO. He's also curious to hear the update from ConAgra after the Pinnacle Foods acquisition, but said the most exciting news will come from the JPMorgan conference.
Thursday brings an analyst meeting from The Walt Disney Co. (DIS) - Get Walt Disney Company Report . Cramer said he'd buy half a position going into the meeting, then buy the rest if the stock falls afterwards.
Finally on Friday, we get earnings from JPMorgan Chase and rival Wells Fargo (WFC) - Get Wells Fargo & Company Report . Cramer remained a fan of JPMorgan and hoped that Wells Fargo can now start moving forward again.
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Tsunami of IPOs
What's the biggest threat to the stock market? No, it's not interest rates or the trade war, it's too many IPOs. Too much supply can overwhelm even a healthy market, Cramer reminded viewers, as money managers are forced to sell things they already own to raise cash for these hot new offerings. But that doesn't mean there aren't still opportunities to be had.
TradeWeb (TW) - Get Tradeweb Markets, Inc. Class A Report , a dramatically oversubscribed IPO saw its deal size increased by 33%, then again by another 10%, before ultimately raising the issue price and still seeing healthy gains on its first day of trading.
Cramer explained that TradeWeb is similar to another favorite fintech company, MarketAxess (MKTX) - Get MarketAxess Holdings Inc. (MKTX) Report , as both are electronic trading platforms for bonds that are riding the digitization and globalization waves. In the case of TradeWeb, the company has no meaningful debt and $304 million in cash, and unlike so many IPOs these day, TradeWeb is profitable.
Given how beloved and essential platforms like TradeWeb are, Cramer said the company deserves a lot more than the 31 times earnings multiple it currently receives. Giving the company the same multiple as its peer, MarketAxess, the stock could sell as high as 50 times earnings.
Executive Decision: Alder BioPharmaceuticals
For his "Executive Decision" segment, Cramer sat down with Bob Azelby, CEO of Alder BioPharmaceuticals (ALDR) - Get Alder Biopharmaceuticals, Inc. Report , one of the many drug companies developing treatments for migraines. Shares of Alder are up 35% for the year.
Azelby explained their new drug, Eptinezumab, has shown a 50% to 75% response rate in clinical trials and in some cases, patients are seeing relief within the first 24 hours. The drug is administered via a 30-minute IV drip, but only needs to be given once every 90 days. Azelby said this cadence aligns with how often chronic suffers typically see their doctors. Insurance payers like the drug as well, as they can see if it's working after just a single dose.
Alder has been securing partnership to produce Eptinezumab, and Azelby noted the drug will be in good supply both in the U.S. and globally when it debuts. He said the biggest challenge is simply education, as most people think of migraines only as a headache and don't consider the anxiety, depression, sleep disorders and countless other ailments that accompany migraines.
Outlook for Burlington Stores
Retail is beginning to make a comeback, Cramer told viewers, and there's one retailer in particular that's a coiled spring ready to rally higher. He said Burlington Stores (BURL) - Get Burlington Stores, Inc. Report reported a not-so-hot quarter last earnings season and the stock plunged from $167 to $147 a share in a single day, but that move was a gross overreaction.
Cramer said Burlington sells a lot more than just winter coats these days. The company has expanded into women's wear, men's wear, housewares, home furnishings and more. But when the company reported last, it blamed a cold, wet winter for sluggish sales and investors fled the stock.
Cramer noted a similar pattern in Home Depot (HD) - Get Home Depot, Inc. (HD) Report . Investors lost faith in the company, only to see it come roaring back just a quarter later. Cramer said he expects Burlington, which has historically been a fabulous operator, to follow in Home Depot's footsteps and see a stellar spring season after what was indeed a cold, wet start to the year for much of the country.
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Cramer Does His Homework
In his "Homework" segment, Cramer followed up on a few stocks that had stumped him during earlier shows. He said that Accelerate Diagnostics (AXDX) - Get Accelerate Diagnostics, Inc. Report is an interesting story. The company's platform allows hospitals to identify bacteria in just 90 minutes and determine which antibiotics that bacteria is vulnerable to in as little as seven hours. The only problem? The company has virtually no sales. Cramer said it's too risky to invest at this early stage.
Cramer was more bullish on email encryption provider ZIX (ZIXI) - Get Zix Corporation Report however, saying the company is in a terrific cybersecurity niche that's needed by many companies, including healthcare, finance, insurance, the government and more.
Finally, Cramer said that Chemical Financial (CHFC) , a regional Midwest bank trades at just nine times earnings and, thanks to a recent acquisition, is poised to see nice growth in 2019.
In the Lightning Round, Cramer was bullish on TG Therapeutics (TGTX) - Get TG Therapeutics, Inc. Report , Roku (ROKU) - Get Roku, Inc. Class A Report , Palo Alto Networks (PANW) - Get Palo Alto Networks, Inc. Report , STORE Capital (STOR) - Get STORE Capital Corporation Report and Federal Realty Investment Trust (FRT) - Get Federal Realty Investment Trust Report .
Cramer was bearish on Diplomat Pharmacy (DPLO) - Get Diplomat Pharmacy, Inc. Report , People's Bank (PBCT) - Get People's United Financial, Inc. Report , Bloom Energy (BE) - Get Bloom Energy Corporation Class A Report , Tenneco (TEN) - Get Tenneco Inc. Class A Report , FireEye (FEYE) - Get FireEye, Inc. Report , World Wrestling Entertainment (WWE) - Get World Wrestling Entertainment, Inc. Class A Report and Optinose (OPTN) - Get OptiNose, Inc. Report .
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At the time of publication, Cramer's Action Alerts PLUS had a position in DIS, JPM, HD, PANW.