Something for Everyone: Cramer's 'Mad Money' Recap (Monday 10/5/20)

Politics, banks, crude oil, government stimulus, and even manufacturing sent upbeat signals to the markets on Monday, says Jim Cramer.
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Don't overthink Monday's gigantic market rally, Jim Cramer told his Mad Money viewers. The stock market had something for everyone, Cramer said, even if many of those things are contradictory to one another.

Today's rally was spurred by the removal of uncertainty, Cramer explained. President Donald Trump is reportedly doing better, while Democratic challenger Joe Biden continues to widen his lead in the polls. That sent many different sectors rallying, even if they typically wouldn't trade in tandem.

Continued talks of additional government stimulus led to a surge in interest rates. That's great for the bank stocks. Meanwhile, an uptick in demand sent crude oil prices higher. Cramer cautioned viewers to use any strength in oil to sell the oil stocks.

Homes and remodeling continues to gain strength. That's why Cramer continued to recommend Home Depot  (HD) - Get Report, Lowe's  (LOW) - Get Report, Best Buy  (BBY) - Get Report, Walmart  (WMT) - Get Report and Target  (TGT) - Get Report. He even warmed up to the beleaguered Bed Bath & Beyond  (BBBY) - Get Report.

Cramer added that the biotech stocks now trade together, thanks to the proliferation of ETFs, so good news for Regeneron  (REGN) - Get Report was good news for the entire sector. Finally, Cramer noted that with manufacturing recovering, even the auto sector seems to be improving, with car prices at CarMax  (KMX) - Get Report and AutoNation  (AN) - Get Report getting better.

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Executive Decision: Bristol-Myers Squibb

In his first "Executive Decision" segment, Cramer spoke with Dr. Giovanni Caforio, chairman and CEO of Bristol-Myers Squibb  (BMY) - Get Report, the drugmaker that on Monday announced the acquisition of MyoKardia to bolster its cardiovascular offerings.

Caforio noted that it's been one year since Bristol acquired Celgene and the combined companies have made "great progress" towards advancing their strategy. MyoKardia's new drug could treat as many as 100,000 patients in the U.S. alone and Caforio said Bristol is the perfect company to take the drug through the regulatory process to bring the drug to market next year.

Bristol Myers remains committed to leading the charge against cardiovascular disease, Caforio said, but also toward rewarding their shareholders. Shares of the company are up 17% over the past year and Caforio added that they continue to have strong financials and are reducing debt as they work towards a balanced capital allocation plan.

Executive Decision: Slack Technologies

For his second "Executive Decision" segment, Cramer spoke with Stewart Butterfield, co-founder and CEO of Slack Technologies  (WORK) - Get Report, the collaboration software provider that's been lagging many other cloud companies in recent months.

Butterfield admitted that after six years, it's still a little difficult to explain Slack to those who are not familiar with the platform. He said Slack moves company messaging out of the inbox and into channels where everyone can go to collaborate and catch up with what's going on. Slack is where work happens, he said, and customers love their product.

That customer loyalty and enthusiasm has propelled Slack through several years of viral growth, Butterfield added, but now the company is facing new competition from Microsoft  (MSFT) - Get Report and its collaboration offering, Teams.

Slack has leveled anti-competitive charges against Microsoft regarding Teams, charges that the European Commission is now investigating.

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At the time of publication, Cramer's Action Alerts PLUS had a position in BMY, MSFT.