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NEW YORK (
) -- All of the stocks that were hardest hit earlier in the week are now the big winners, Jim Cramer told viewers of his "Mad Money" TV show Friday afternoon.
Cramer said the fundamentals always win out eventually, and even the endless assault from Washington couldn't keep stocks like
, a stock which he owns for his charitable trust,
Action Alerts PLUS, and health insurer
Cramer said that investors could've caught a quick eight points in
, another Action Alerts Plus name, if they ignored the bears, who offered countless reasons to hate the stock. Cramer said that after backing out the cash Apple has on hand, the company's current P/E ratio barely qualifies it as a growth stock, and that's way too cheap.
So what's really going on in the markets? Cramer attributed today's market surge to the end of the month tradition of hedge-fund managers marking up their favorite stocks, in efforts to save an otherwise difficult month.
In the "Executive Decision" segment, Cramer sat down with Michael Ward, chairman, president and CEO of
, a company which reported disappointing results in January but raised its dividend by 9%.
Ward said that CSX has seen big movements from China in recent weeks, with the Chinese buying over five million tons of coal for their growing steel production. Ward said that five years ago, China was an exporter of coal, but now its insatiable appetite for steel has turned it into a growing importer.
Ward also said that the he's seeing a rebound in several areas, including autos, metals, steel and fertilizers, but he's not seeing any improvement in the movement of lumber, indicating that housing is still very weak throughout the country.
When asked about new safety regulations imposed by Washington on the railroads, Ward was much less optimistic. He said that despite the negative cost-benefit ratio from the latest round of regulations, the company is complying with the new laws. He said the increase in regulation from Washington since Obama took office has limited the company's growth.
Ward reminded Cramer that the railroads are vital to the country's success, and not only help the economy, but also the environment, where the company can move one ton of freight 436 miles on a single gallon of fuel.
Cramer remained a fan of CSX and had a bullish outlook on the stock.
Despite all of the skepticism and naysayers, the fourth quarter was a great one for retailers, Cramer told viewers. He said the recent earnings beats from
just confirms the trend set by countless other retailers.
Cramer said Deckers had a remarkable quarter, with a 94-cent-a-share earnings beat. Deckers is up 38% since Cramer last recommended it on Oct. 13, but he said the stock is headed still higher.
Cramer also noted magnificent quarters by
, a stock, which he owns for his charitable trust,
Action Alerts PLUS, and
, as well as high end brands like
Cramer said the bears were wrong on all of these names, and in retrospect, December was a great buying opportunity that many investors missed because they listened to the naysayers.
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long JPMorgan Chase, Apple, Home Depot.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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