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Jim Cramer told viewers of his "Mad Money" show to slip out of their shoes and get into the SOX.
Cramer said that
( TBL), which reported second-quarter earnings Tuesday morning and said it would have a more challenging third quarter, indicates that there are big problems in the shoe business.
There is an inventory glut in the shoe business. And while Timberland may not be a broken stock, Cramer said, the shoe business is not the place to be.
Cramer said investors should be in semiconductors, in the Philadelphia Stock Exchange semiconductor index, also known as the SOX. What's more, semiconductor companies keep prices high, so they don't have to worry about declining prices. As a result, Cramer believes the SOX could tack on another 100 points.
Cramer also told investors to eyeball eye-related companies. He urged investors to buy
( ILSE). Cramer said that if he were still running his old hedge fund, he would buy half of his position now before the company posts earnings on Thursday, and then invest the rest later.
, which administers Lasik eye surgery, is looking into using Intralase's lasers, which sell for about $350,000. The company, which doesn't make a lot of money on the lasers, then sells the disposable patient interface afterward, which is where all of the profit is. It's the razor and the razor blades type of story that Cramer likes.
Cramer also likes
( ACL) and
Bausch & Lomb
( BOL). But he believes investors may have "missed a lot of the run" in these two companies.
Marvelous Night for a Moonves
co-president, spoke to Cramer via telephone. Cramer asked several questions about the company, which is splitting itself into two. Cramer wanted to know if
is a threat. Moonves pointed out that TiVo is only in 6% of households, suggesting it's not that big a deal. Cramer also wanted to know how difficult it is to get young viewers to watch CBS. Moonves told Cramer that CBS, for the first time in 20 years, won the 18-49-year-old demographics recently.
Moonves said that when the company splits, the CBS side of the business is going to throw off a lot of cash. Cramer said you will have high growth assets on one side -- with the cable television and movie properties -- and the stable part of the business on the other side, which is where CBS will be. Moonves will be running CBS, and Cramer recommended investors buy it when Viacom splits.
Intuitive Surgical an Operator
Finally, Cramer spoke via telephone with Aleks Cukic, vice president of business development and strategic planning at
. After the stock market closed on Tuesday, the company reported blowout second-quarter earnings, beating estimates by 19 cents. The company's da Vinci surgical system, according to Cukic, is making it possible to do minimally invasive surgical procedures that used to be much more invasive.
During the quarter, the company sold 26 surgical systems, up from 19 a year ago. Shares of the company were trading up more than 20% after it released its earnings news. "Intuitive Surgical is a winner," Cramer said.
The 'Lightning Round'
Cramer was bullish on
Florida Rock Industries
( NGAS) and
Cramer was bearish on:
J.P. Morgan Chase
Chiquita Brands International
( MYOG) and
Fifth Third Bancorp
At the time of publication, Cramer was long J.P. Morgan, General Mills and Pentair.
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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