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NEW YORK (
) -- While there are a lot of reasons to feel bad about this market, a lot of great things are happening to U.S. companies at the micro-level, Jim Cramer told viewers of his "Mad Money" TV show Thursday.
Cramer said just yesterday alone, there were a multitude of great earnings calls, but none of them seemed to matter as the oil spill in the Gulf continues and politics in Washington and Europe steal the focus.
Here were a few notable mentions.
management said "we've never been more profitable," as it delivered record revenue and profits on tremendous momentum. Yet he said the stock closed down $2.89.
Bed Bath & Beyond
saw its net sales up 13.5% with strong margins, as it raised guidance for the year. Yet shares tanked $2.34.
saw higher margins and announced expansion plans and a stock buyback, but its shares fell $2.44.
posted 35% higher revenues and has $600 million in cash, yet lost $1 a share.
And the list continued with
reporting positive news, only to see their share prices fall.
Cramer said this news might not matter now, but soon, it will.
Cramer took a few minutes to revisit and update his "kid-friendly" basket of stocks, which initially debuted on June 19 of last year.
He said the basket, which included
, a stock which he owns for his charitable trust,
Action Alerts PLUS,
, another Action Alerts PLUS name, and
, was up 50% on the year, while the
was only up 17%.
Cramer said he'd keep McDonald's, up 16%, thanks in part to its 3.2% dividend yield, along with Apple, up 93% and going strong, Disney, up 43% and Hasbro, which rounded out the four up 70% since Cramer's recommendation.
Cramer said he is changing VF Corp, however, despite shares being up 26%, and is replacing it with
. He said that Nike is not only more recognizable to kids, but it also has more growth, less exposure to Europe and is trading at a discount.
In the Thursday "Sell Block" segment, Cramer took aim at the obvious, and put
St. Joe Company
on the sell block. He said that as the largest real estate developer in Florida, St. Joe is in the bullseye of the Gulf oil spill, and investors need to steer clear.
Cramer has harsh words for the three or four analysts covering St. Joe that rate the company a neutral as opposed to a sell. He told viewers without hesitation that the word "sell" was made for a situation like this.
Cramer said that he applauds St. Joe's efforts to diversify and its strong balance sheet, but he said the fact remains that it is primarily a property owner and land developer with 70% of its properties within 15 miles of the now imperiled coastline of Florida. He said the company just quite simple cannot quantify the downside it will have as tar balls begin washing up on its beaches.
Cramer said it may be decades before vacationers decide to buy property in this stricken region of Florida, and given the clean up costs, lost business and property devaluation, St. Joe may never know the true extent of the damage.
Additions, Subtractions to Wall of Shame
In his final segment, Cramer took out time to reshuffle his "Wall of Shame" list of the worst CEOs in America. He said that without question, Tony Hayward, CEO of
, remains in the No. 1 spot as the most clueless corporate executive, but the rest of the list is up for grabs.
Moving into the No. 2 spot, Wes Edens of
, after his company's stock has fallen 39% since Cramer added him to the wall. He put Irene Rosenfeld of
, in the No. 3 spot after her botched takeover of Cadbury, a deal widely seen as "dumb."
Coming off the wall were William Kleese of
, a man who's served his time, said Cramer, and that Khaykin of
whose rejection of a takeover bid earned him a spot on the wall last year.
Jim Cramer Why Obama is Bad for Stocks
Speaking of takeovers, Cramer moved up John Lauer, CEO of
after he too rejected a takeover at significantly higher prices.
Finally, remaining on the list was George Economou, CEO of
, who's decision to not only buy ships at the most inopportune time was coupled with the decision to build four new offshore drilling rigs.
Cramer was bullish on
He was bearish on
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long Apple, McDonald's.
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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