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NEW YORK (
) -- "Don't be misled by the day to day action next week," Jim Cramer told the viewers of his
TV show Friday, as he laid out his game plan for next week's trading. He reminded viewers that during earnings season, the mantra is "stop, look and listen."
On Monday, Cramer said he'd pounce on
, a stock that's worth buying whether it goes up on down on its earnings news. He'll also be watching railroad
to see how fertilizers and autos are shipping and
to see if that company's earnings can resurrect
, which got hammered this week.
On Tuesday, Cramer said the stocks to watch will be
, a growth name that's only getting stronger,
Johnson & Johnson
a company that's only getting worse and worse amidst an endless stream of product recalls and
, a company with insight into the Chinese economy.
Turning to Wednesday, Cramer will listen to
for the latest on employment,
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS, for news on the 787 Dreamliner and
for a read on the mobile Internet tsunami.
Then on Thursday, Action Alerts PLUS stock
will have Cramer's attention. He said this may be the most important earnings call of the week. Also on Cramer's radar,
Finally, on Friday, Cramer said
and industrial giant
will have his attention. Cramer said he'd also avoid the IPO of Neilsen, which will trade under the ticker NLSN, unless the deal gets priced on the low end of its expected range.
In the "Executive Decision" segment, Cramer spoke with Bryan Jordan, president and CEO of
, a bank Cramer recommended last March, only to incur an 11% loss as the broader markets have rallied.
Jordan said First Horizon has been working for the past three years to reposition itself, divesting of its national mortgage business and focusing on its core banking and capital banking markets.
He said while the bank has good momentum, the wind-down still creates friction from time to time, which has been reflecting in the company's earnings. Jordan said he's always seen this process as a marathon and not a sprint, and he's happy with the progress.
When asked about the economy in Tennessee, where First Horizon chiefly operates, Jordan said the economy is picking up slowly in the state's main industries of manufacturing, healthcare and transportation. He said there is progress being made and upside to be had.
Another positive for the company, improving net interest margin, the amount of money a bank makes between the interest rate it loans out money versus what is pays depositors. Jordan said as interest rates rise, First Horizon will be able to capitalize on those gains.
Cramer continued his support for First Horizon, despite being wrong about the company last year. He said the time to pull the trigger is likely right now.
In a second exclusive interview, Cramer spoke with Larry Nichols, CEO of
, a stock that's up 30% since Cramer last spoke with Nichols in October of last year.
Nichols said that Devon realized years ago that there was a growing opportunity to drill in North America and on shore, which is why the company divested itself of its deep water investments at the height of the market in 2009. He said that Devon is now focused on a balance of oil and natural gas drilling, right here in North America.
When asked for further details on the gas/oil split, Nichols said that Devon aims for a 60/40 split between the two fuels, but doesn't care which way the split leans. He said Devon is flexible enough to deploy its capital spending no matter which way the markets are heading.
Turning to the company's balance sheet, Nichols said Devon now has $4 billion in cash on its books, and is looking to take advantage of opportunities as they arise.
Finally, when asked for an outlook for natural gas, Nichols said that after two years of education lawmakers, he feels Washington is starting to "get it." He said there are tremendous opportunities to bring the chemical business back to America using the low-cost natural gas, and opportunities to convert dirty coal-based utilities to the clean burning natural gas.
Cramer once again recommended Devon Energy.
Cramer followed up on
, a specialty chemical company that stumped him during an earlier Lightning Round. Cramer said while OM Group's portfolio is businesses is attractive, the stock has had a big run. He'd bet with best-of-breed
, which is safer and has a dividend.
When asked about teen apparel retailer
, Cramer said this company is vulnerable to fashion trends and he would proceed with extreme caution. Regarding
, a stock Cramer recommended in September, Cramer said it's time to ring the register.
Finally, when asked about HMOs for 2011, Cramer said he's a believer, which is why he owns
for Action Alerts PLUS.
Cramer was bullish on
He was bearish on
In his "No Huddle Offense" segment, Cramer said sometimes the market just gets it wrong, and it just did with
Cramer said Hewlett has deep seeded problems with unfocused product lines and rising competition. He said the company's choices for its new board members just don't make sense, and don't bring a lot to the table.
In the case of Google, Cramer said the company has accelerating revenue growth and trades at just 12 times earnings once you back out the $130 per share of cash the company has on hand. He said that co-founder Larry Page should do well as the company's new CEO.
Cramer's bottom line: Sell Hewlett-Packard and buy Google.
--Written by Scott Rutt in Washington, D.C.
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At the time of publication, Cramer was long Boeing, Caterpillar, Wellpoint.
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