This market punishes investors who have conviction, Jim Cramer told his Mad Money viewers Friday. If you're too bullish, you get hit with negativity, if you're too negative, the bulls will run right over you. That was the case again today, as Thursday's soft economic news was met today with hardened talk on trade and a 3.1% increase in non-farm wages.
Cramer said he expected the market to be down more than it was after the 6.6% slide in Apple (AAPL) , an Action Alerts PLUS holding. While Wall Street frets over the company not disclosing unit sales going forward, Cramer would be a buyer.
That brings us to Cramer's game plan for next week, where he said he'd avoid Marriott (MAR) on Monday, after the company failed to deliver last quarter.
Tuesday is Election Day, and Cramer said he'd buy the defense stocks if the Republicans win, but would be a buyer of a whole lot more if the Democrats are victorious. Wall Street loves gridlock.
On Wednesday, Humana (HUM) will be reporting with Qualcomm (QCOM) , Wynn Resorts (WYNN) and Take-Two Interactive (TTWO) . Humana will likely shoot the lights out, Cramer said, and he remains a fan of Take-Two. He would avoid Qualcomm and Wynn until the trade war softens.
Thursday brings earnings from the highlight of the week, Walt Disney Co. (DIS) , and Cramer said he's anxious to learn about the new Disney, which includes Fox.
Finally on Friday, it's the latest producer price index, and Cramer reminded viewers that good news is bad news when it comes to economic data.
In this fickle market, whether your stock succeeds or fails comes down to one thing: pricing power. If you're someone like Kraft Heinz (HKC) , which saw its pricing decline by 0.9%, your shares will be hammered, as Kraft saw today, down 9.7%.
Contrast that to Take-Two Interactive, which raked in $725 million this weekend after successfully completing the second most successful video game launch in history.
So what should investors make of Apple, which saw the average selling price of the iPhone soar $175 from last year? Cramer said Apple's shares deserved a lot better than the huge selloff they received today. He's not at all concerned the company will stop reporting unit sales. It's the service revenue that matters and services were up big this quarter as well.
Cramer reiterated that he's a buyer of Apple, especially given the company will be buying back shares next week, taking advantage of this week's weakness.
Cramer and the AAP team say if you value Apple as a consumer-packaged goods company like they do, then shares are still significantly undervalued. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.
Focus Back on the Winners
After a tough October, Cramer said it pays to circle back to the winners, winners like McDonald's (MCD) , which ended the month up 5.7%. McDonald's is firing on all cylinders, Cramer said, and the move isn't over yet.
The turn in McDonald's began in 2015 when CEO Steve Easterbrook took the helm. Since then, shares are up 58%. But earlier this year, investors began to flee McDonald's after the company said it would increase spending to renovate more stores. After mixed results in July, it looked like the rally was indeed over for the restaurant chain. That was, until this quarter.
McDonald's delivered an 11-cents-a-share earnings beat with better than expected revenues and a 15% boost to its dividend, taking the yield to 2.65%. Turns out, all of that extra spending paid off, and Cramer said he thinks the stock still has more room to run.
Over on Real Money, Cramer says it's worth remembering why the FANG stocks have been so great, and how they'll come back. Get more of his insights with a free trial subscription to Real Money.
Executive Decision: Just Capital
For his "Executive Decision" segment, Cramer sat down with Paul Tudor Jones, co-founder and chairman of Just Capital, a non-profit that believes you can do well by doing good.
Jones said he's never seen a period in history with so much social tumult. Capitalism needs to be modernized, he said, and the private economy is four times larger than the public economy, so social change needs to come from the private sector.
When asked what makes a socially "just" company, respondents indicated that workers, customers and products were the top three criteria, followed by the environment and communities they serve. Jones said taking just the top three, makes a great business model. Treat your workers well, treat your customers well and make great products that are environmentally responsible.
Using those criteria, the Just Index breaks the Russell 1000 into sectors and includes for the top 50% of performers in each sector from the JUST Capital rankings. Combined, those firms make 7% more return on equity than the rest.
When asked whether this was a good time to invest in stocks, Jones said he thinks the market will still head higher from current levels.
Executive Decision: Foursquare
In his second "Executive Decision" segment, Cramer sat down with Jeff Glueck, CEO of Foursquare, the privately-held location technology platform that leverages user check-ins to help thousands of companies provide more personalized content.
Glueck explained that even for simple things, like getting the weather, location matters. There's a big difference between knowing the weather at work, where you'll be inside for eight hours, versus being outside at a ball game. Being aware of what's around you, he said, matters.
Foursquare recently announced a partnership with TripAdvisor, to help make more social recommendations, including things that are nearby. The company also works with Tinder, helping singles find matches with common interests.
Cramer said Foursquare may be a private company, but they're doing everything right.
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