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Did you sell
on Thursday night? That's what Cramer asked his viewers at the outset of his "Mad Money" show on
Friday night. "If you sold Google yesterday, you panicked," Cramer said. "This is a case of pure, unadulterated panic."
The journalists acted like it mattered, Cramer said. "And they caused a stampede." The "it" he was referring to is seasonality. Uninformed reporters acted like seasonality matters, he said.
"Don't listen to the words that management says," either, Cramer continued. Management gave investors the runaround the quarter before as well when it talked about seasonality. These growth companies don't have seasonality, Cramer said. "Seasonality doesn't make a bit of difference to Google," he said. What matters is earnings, which will be $8 a share next year.
Cramer said the stock is cheaper than
Whole Foods Market
( WFMI). Still, even with Prudential's $400 price tag -- which it affixed to the stock earlier this week -- Cramer said that he is holding to his $350 target for the stock.
Cramer was bullish on: Whole Foods,
Buffalo Wild Wings
Aspect Medical Systems
( ASPM) and
Cramer was bearish on:
( MOT) is Cramer's pick of the week. Indeed, instead of waiting until next week to proclaim the company his stock of the week, Cramer said he had to tell his viewers on Friday night instead. Cramer wants investors in the stock now. Bottom line? "Own Motorola," he said.
Doing a little housecleaning, Cramer got back to
, which posted second-quarter earnings Thursday that were better than expected. Cramer issued a mea culpa, saying that he had been cautious on the stock. He underestimated the company, he said.
Jim Cramer had always-feisty markets commentator Herb Greenberg on as a guest again. The two talked about
( HANS) and
Greenberg said Hansen's stock has gone down lately not because the company recently said it would split shares 2 for 1 (instead of the 3 for 1 that some investors seem to have been hoping for), but because it's too expensive. The stock has climbed on the back of momentum investors, Greenberg said. Cramer acknowledged the red-hot nature of the stock, but said he always looks for places to make people money. Greenberg, for his part, said that he tries to help investors save money.
As for Tempur-Pedic, the stock has been red-flagged by Greenberg. The company has a lot of competition. Even though the stock was down almost $6 on Friday, after it posted weaker-than-expected second-quarter sales, Greenberg said the stock still isn't a buy. Cramer concurred with Greenberg's assessment of the company and the stock.
At the time of publication, Cramer was long Halliburton, Motorola and Yahoo!.
James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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