Next week is the end of the quarter, and Jim Cramer told his Mad Money viewers Friday to be prepared for more tough talk on trade. For investors that can't handle the pain, Cramer recommended raising some cash in their portfolio, as he expects another wild week of trading.
Cramer's game plan starts on Monday with Carnival (CCL) . He said investors have been worried about too many ships and rising fuel prices, but Carnival CEO Arnold Donald should set the record straight.
Next on Tuesday, it's homebuilder Lennar (LEN) reporting. Cramer said this group is too cheap to ignore, but with fears over rising interest rates and lumber costs, any bounce may be short-lived.
The earnings on Wednesday include General Mills (GIS) , a stock which is off 23% for the year and represents good value, Paychex (PAYX) , a long-time Cramer favorite, and Bed Bath & Beyond (BBBY) , which needs a strong quarter to prevent the stock from retreating to its lows.
Thursday will be the busiest day of the week with earnings from Accenture (ACN) , Walgreens Boots Alliance (WBA) , ConAgra Foods (CAG) and spice-maker McCormick (MKC) . Cramer felt Walgreens could be a good one, along with ConAgra and McCormick, but he advised waiting on Accenture, which usually sells off after earnings, providing a great entry point.
Also on Thursday, the results of the bank stress tests all be posted and Cramer expects Citigroup (C) will pass with flying colors. He advised buying on Wednesday, ahead of the news.
Over on Real Money, Cramer says there are only hard-liners when it comes to trade. Be prepared. Get more of his insights with a free trial subscription to Real Money.
Executive Decision: Red Hat
For his "Executive Decision" segment, Cramer again spoke with Jim Whitehurst, president and CEO of Red Hat Inc. (RHT) , the open-source software provider that saw its shares plunge 14.2% after reporting weaker-than-expected guidance. Shares are still up 18% for the year.
Whitehurst explained that Rad Hat's billings can sometimes be volatile quarter-to-quarter, which is why he always encourages investors to look at the long-term. They don't manage their billings for the quarter, he added, which sometimes causes a disconnect with analyst expectations.
Indeed, analysts were expecting another "beat-and-raise" quarter, Whitehurst said, so when the company delivered exactly what they forecast, it quickly led to the stock's worst day in over two years.
Whitehurst reiterated that business continues to go well at Red Hat, with deals over $1 million up 65% year-over-year. They continue to see good traction in their newer middleware offerings, but declines in some legacy offerings are moderating that growth. He continues to be excited about the 5G wireless rollout worldwide, and expects a pickup in telco business later this year.
Cramer called today's action a "hiccup" in a terrific long-term story.
Cramer and the AAP team are trimming Nordstrom (JWN) to lock in terrific gains in the position as well as to raise a little cash in case trade tensions rise over the weekend. 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.
Executive Decision: Green Thumb Industries
In his second "Executive Decision" segment, Cramer sat down with Ben Kolver, founder and chairman of Green Thumb Industries, the Chicago-based retailer and wholesaler of cannabis that now trades in Canada.
Kolver said cannabis is a $75 billion opportunity in the U.S., but the current federal prohibition gives smaller companies like Green Thumb the first-mover advantage. Over the long term, he expects that brands that operate at scale will be the ones with pricing power and ultimately prevail in the marketplace.
Green Thumb currently has 350 employees and is working on opening locations in Florida, as well as looking forward to legalization in Ohio and New Jersey.
Cramer said cannabis continues to be an industry that everyone is talking about and Green Thumb, trading in Canada, is one way to play it.
How Oil Prices Can Hit Earnings
Are investors looking at their investing maps upside down? Cramer said it sure seems like it, as today's news flow was not a recipe for a rally, but a rally is what we got anyway.
Specifically, Cramer said today's announcement that OPEC would increase production by a scant 600,000 barrels a day -- far less than expected -- should have been seen as bad news, not good news. With a slowing of the global expansion, thanks to tariffs and trade wars, and a stronger dollar, the last thing U.S. companies need are higher fuel and energy prices. Higher oil prices are always bad for the economy and the stock market, Cramer reminded viewers, and we're not even sure if Saudi Arabia plans to actually hit the production targets announced today.
At the end of the day, earnings are what matters, Cramer concluded, and with higher oil prices, those earnings will eventually get crimped.
Executive Decision: Entergy
In his final "Executive Decision" segment, Cramer also sat down with Leo DeNault, chairman and CEO of Entergy (ETR) , the utility with a 4.4% yield.
DeNault said that Entergy continues on its plan to get back to basics of providing low-cost power to its customers. He said they've been very fortunate to have tremendous growth in their industrial base since the financial crisis, which helps them spread cost over more megawatts.
When asked about the decommissioning of their nuclear facilities, DeNault said while the technology and safety of nuclear power remains solid, the economics in the competitive markets where those plants operate in are not. He said that's why they're replacing those plants with new natural gas facilities that make even coal uneconomical.
DeNault added that Entergy's newer facilities burn less, have fewer emissions and are all-around better plants to operate.
Cramer said Entergy continues to give investors everything they're looking for.
In the Lightning Round, Cramer was bullish on Gilead Sciences (GILD) , TrustCo Bank (TRST) , CRISPR Therapeutics (CRSP) , Iron Mountain (IRM) , Facebook (FB) , Twitter (TWTR) , Prudential (PRU) , Albemarle (ALB) , Valeant Pharmaceuticals (VRX) and Moody's (MCO) .
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