Stock futures edged up Friday ahead of expected data on the manufacturing and services sectors that will provide more insights into the pace of the economic recovery.
In the most recent episode of "Mad Money" TheStreet Founder Jim Cramer said he lamented the lack of accountability on Wall Street and condemned the harm it did to investors.
TheStreet's Katherine Ross and Cramer are talking about Cisco and Petco after their earnings reports and how to regulate cryptocurrency.
Cisco: Buy Or Sell?
Shares of Cisco (CSCO) - Get Report fell even after the telecom-equipment giant reported stronger-than-expected fiscal-third-quarter revenue and earnings. Revenue rose 7% while total product orders rose 10% from the year-earlier quarter.
Cramer said Cisco stock should have been up, not down. "Cisco is an order play; the orders were spectacular, best I have seen in ages," Cramer said. "There was this short-term concern here; they had to take a hit on earnings because of the supply chain. They took the hit, in part, because they want their clients to be happy. Good call there."
Petco vs. Chewy
Petco Health & Wellness (WOOF) - Get Report on Thursday reported first-quarter earnings that exceeded Wall Street estimates as a surge in pet adoptions continued to help the retailer recruit new customers.
"I happen to like the fact that Petco is going all in on health care. That's what is needed. But it's not as exciting as Chewy.'"
Cramer said he wants regulation in the cryptocurrency space so investors don't lose so much so quickly. "Regulators need to stop margin buying in Bitcoin and instead do it in cash," he suggested. "If you think it's cash, then you should buy it for cash, but not borrow to buy it."
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