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NEW YORK (
) -- "Once again, fabulous news from the U.S. is being overshadowed by European woes," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.
He said that investors just aren't responding with any enthusiasm to good news until after the European markets close, and that makes for tremendous buying opportunities.
To illustrate his point, Cramer highlighted seven companies which reported good news at today's open, only to see their stock price languish until after Europe had closed.
Bed Bath & Beyond
. Cramer said this company reported a killer quarter, bringing in 86 cents a share when Wall Street was only expecting 73 cents a share. Yet shares of Bed Bath opened lower this morning, only to rocket up $1 by lunchtime.
. Cramer said this discount chain massively raised its guidance this morning, only to open flat before beginning to rally.
. Cramer said this company has no connection to Greece, or its bond woes, yet it too stayed still at the open, only to close up $3 a share by day's end.
. This oil and gas driller received a bump its earnings estimates today, and it too opened flat, at $104 a share, before moving to $107 by midday.
. Cramer said that Wynn received a major price target boost this morning, but did it move on the news? No, he said, it opened at $81 a share before rocketing later on to $84.
. Turning back to retail, Cramer said Ross raised its guidance from between 92 cents to 95 cents a share to $1.14 to $1.16 a share, and it too opened flat, only to rally up $1.50 a share by the close.
. Cramer said that Target also reported terrific sales, but saw its shares open unchanged, before heading up $1.
In all of these cases, Cramer said the market's focus on European financial issues led to great buying opportunities and terrific profits for those who were paying attention.
In the "Executive Decision" segment, Cramer once again spoke with Glen Tullman, CEO of
Allscripts-Misys Healthcare Solutions
, a stock which Cramer recommended on Jan. 22, 2009 and is up 159% since then.
Cramer said that Allscripts' electronic medial records are benefitting from both the federal stimulus and health care reforms, and its story is far from over.
Tullman said that Allscripts is a story of execution, and after delivering $105 million in sales, the company is putting to rest any fears that their market is not continuing to expand and expand rapidly. Tullman said the company is delivering 25% sales growth year over year thanks to their great sales force and fabulous partners.
As federal stimulus money and mandates for electronic health records continue to trickle down to doctors and hospitals, Tullman expects things will get better and better with every passing quarter. He expects 70% of the stimulus money to be spent over the next three years, after which doctors will begin being penalized for not having electronic records.
Tullman reiterated the company's position that electronic records are a big win for patients and physicians as they provide better information and ultimately better care. He said Allscripts is please that its applications will run on
new iPad, as well as on the iPhone, Blackberry and other devices as well.
Cramer said the Allscripts story continues to make sense, and he thinks the stock is heading still higher.
Commercial Real Estate Plays in California
Continuing his series on opportunities to play California's economic recovery, Cramer focused tonight on commercial real estate. He said that with financing for real estate deals returning and the overall economy in California improving, it'll be a win-win for REITs and others with lots of exposure in the state.
, which derives 83% of its revenues from California, and
Essex Property Trust
, 81%, as two promising candidates with 4% and 4.3% dividend yields respectively.
Cramer also gave the nod to mall operator
with its 6% yield and
, which operates smaller properties.
Also on Cramer's watch list was
PC Business Parks
, which is seeing strong occupancy gains at its commercial properties.
However, Cramer said he's most excited about
, which is 100% based in California and has the most room to improves. Kilroy also sports a 4.3% dividend yield while investors are waiting for the economy to fully recover.
Delivering on Promises
In a second interview, Cramer sat down with Paul Wright, president and CEO of
, a stock which is up 73% since Cramer recommended it on Feb. 25, 2009 and up 32% since Cramer last spoke with Wright on Aug. 12.
Wright said that Eldorado has earned a reputation of being a conservative gold miner, but also one that delivers on its promises. He said that while production costs for 2010 will be higher than 2009, he said the additional 250,000 ounces of new gold production the company is bringing online will return costs to historic lows.
When asked about the company's investment in China,Wright said that the Chinese have proven to be good partners, as the country is both the largest producer and consumer of gold, but only ranks seventh in gold reserves. He said there continues to be strong demand in China for gold.
Wright also said there's increased demand for gold across the globe, despite the fact that gold is becoming scarcer and more expensive to find and produce.
Cramer said he's still a fan of Eldorado and its growth outlook.
Cramer was bullish on
Bank of America
Las Vegas Sands
He was bearish on
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was not long any stock mentioned.
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