Next week is all about Friday's nonfarm payroll report and Jim Cramer told his Mad Money viewers they should expect the inflation hawks to be making a lot of noise. No matter what the number is, these bears will be up in arms that the Federal Reserve needs to act now and raise interest rates in order to stop inflation in its tracks. They will, of course, be totally wrong, but that won't stop them from disrupting the bulls.
Beyond Friday, Cramer will be looking at furniture maker Herman Miller (MLHR) - Get Reporton Monday to see if this company can thrive beyond the pandemic. On Tuesday, he'll be watching the action if drone-maker AeroVironment (AVAV) - Get Report.
Wednesday brings a host of earnings. First, we'll hear from Cramer fave Constellation Brands STZ, followed by General Mills GIS. Cramer will be watching the latest crop acreage report, however, to see if farmers are planting more corn to meet demand. If so, then expect commodity prices to fall. Also on Wednesday is Bed Bath & Beyond (BBBY) - Get Report, the meme stock that continues to turn around its operations. And finally, Micron Technology (MU) - Get Report will report, but Cramer said he's sticking with Broadcom (AVGO) - Get Report, Nvidia (NVDA) - Get Report and Advanced Micro Devices (AMD) - Get Report.
Finally, on Thursday, we'll hear from Walgreens Boots Alliance (WBA) - Get Report. Cramer said he's not a fan and needs to hear a vision beyond just more stores. He was bullish on spice-maker McCormick (MKC) - Get Report.
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Am I Diversified?
In the "Am I Diversified" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.
The first portfolio included Boeing (BA) - Get Report, Crown Castle (CCI) - Get Report, Marvell Technologies (MRVL) - Get Report, NortonLifeLock (NLOK) - Get Report and Nvidia (NVDA) - Get Report. Cramer said this portfolio couldn't have both Marvell and Nvidia. He suggested selling Marvell and adding a healthcare company like Abbott Labs (ABT) - Get Report.
The second portfolio's top holdings included General Motors (GM) - Get Report, Apple (AAPL) - Get Report, Advanced Micro Devices (AMD) - Get Report, Southwest Airlines (LUV) - Get Report and Walt Disney (DIS) - Get Report. Cramer blessed this portfolio as properly diversified with some great stocks to boot.
The third portfolio had Apple AAPL, Amazon (AMZN) - Get Report, Fac ebook (FB) - Get Report, Verizon (VZ) - Get Report and Clean Energy Fuels (CLNE) - Get Report as its top five stocks. Cramer also felt this portfolio was adequately diversified.
In his "Executive Decision" segment, Cramer ended the week by speaking with Brent Saunders, executive chairman of the Beauty Health Company SKIN, which recently came public via a specialty purpose acquisition company. Shares of Beauty Health are up 77% over the past two months.
Some readers may remember Saunders as the former CEO of Allergan. He said this new venture sits in the gap between medical aesthetics companies, like Allergan, and beauty companies like Estee Lauder (EL) - Get Report. Beauty Health didn't start out as a SPAC looking for an investment, Saunders noted. The company chose a SPAC because it was the best option for them to raise money quickly.
With the rise in popularity of medical spas and the democratization of many advanced beauty treatments, Saunders said Beauty Health is sitting atop a major trend. While many spas see 90% women, Beauty Health is only seeing 70% women as more and more men are trying their services.
Customers love the treatment and the experience, Saunders added, which is why so many experiential locations are looking to add their services.
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There were a number of concerns going into the quarter, Cramer explained. Investors feared a slowdown in China, supply chain bottlenecks and a slowdown of the popular athleisure trend for starters. Those fears were only stoked by worries that the Olympics might be canceled and weakness at retailer Foot Locker (FL) - Get Report.
Cramer said all of these led to an ugly chart for Nike, which only scared away the technical traders. Nike then proved everyone wrong.
In reality, Nike saw sales in China rise 9% on a constant currency basis. It also managed its supply chain exceptionally well and offset store closings at Foot Locker with more high-margin, direct sales.
In the end, Nike delivered when no one thought they would, which is why they are one of the greatest American companies.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer cautioned against letting your political views get in the way of your portfolio. For years, the U.S. has been at odds with China over Taiwan, trade and human rights abuses. That could spell disaster for companies like Apple, Nike, Starbucks (SBUX) - Get Report, Tesla (TSLA) - Get Report and countless others. But as we've seen this quarter, all of these companies have become masters at doing business in China and all seem immune to boycotts and other collateral damage of tensions between our countries.
We may not like keeping our mouths shut on some of these important issues, but companies have responsibilities to their shareholders, Cramer concluded, and they know how to make money.
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Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Friday evening:
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Apple, Amazon, Facebook Marvel and Nvidia are holdings in Jim Cramer's Action Alerts PLUS member club.