Jim Cramer told his Mad Money viewers Friday that if the Fed pauses, and if the president makes progress on trade, then we'll see a market opportunity we don't want to miss. But if those things don't happen, tech stocks and industrials can remain under pressure.
Here's Cramer's game plan for the holiday-shortened week.
On Monday investors are going to be watching for earnings, with L Brands (LB) , Urban Outfitters (URBN) and Intuit (INTU) all reporting quarterly results. Cramer wonders if the retail stocks have gotten hit a little too hard, particularly L Brands.
Tuesday will be busier, with U.S. housing starts data due in the morning. These numbers are likely to be dismal Cramer said, before he turned his attention to scheduled earnings reports from Best Buy (BBY) , Lowe's (LOW) , TJX Companies (TJX) , Medtronic (MDT) and Kohl's (KSS) . Cramer likes Medtronic and continues to buy Kohl's for Action Alerts PLUS portfolio.
The Wednesday before Thanksgiving is generally a cheery one, but the existing home sales data may put a damper on things, Cramer said. Deere (DE) will also report earnings, a name he's not too fond of at the moment.
Cramer and the AAP team see a buying opportunity in Palo Alto Networks (PANW) and Raytheon (RTN) . 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.
Time for investors to get their game on with video game stocks? This group has been hammered like most other growth names, but they're not getting much reprieve. Cramer thinks that's wrong.
Electronic Arts (EA) has been a "train wreck," he said, but he like Take-Two Interactive (TTWO) . Activision Blizzard (ATVI) is down big but has too many concerns swirling around it now, therefore it's a "hard pass," Cramer reasoned.
Take-Two just delivered a strong quarter with great bookings. It has little exposure to China, which is cracking down on video games, and is seeing tremendous momentum for its new blockbuster, Red Dead Redemption 2.
"I think it's insane this stock has been hit so hard," he added.
Even after Nvidia's (NVDA) big fall on Friday -- a company that has a lot of exposure to the gaming industry -- Take-Two was able to close in positive territory. The group is clearly out of favor, but Cramer likes Take-Two near these levels and the stock is in his Action Alerts PLUS bullpen.
Over on Real Money, Cramer says he still thinks Nvidia (NVDA) is a great company and will get it right. Get more of his insights with a free trial subscription to Real Money.
Executive Decision: Coca-Cola
On the show's "Executive Decision" segment, Cramer sat down with Coca-Cola (KO) President and CEO James Quincey. There's an awful lot to like about this one, Cramer said, and he wants to know what's behind the transformation.
It's the sum of a lot of work over a number of years," Quincey explained. He said that the company re-franchised its bottlers, improved its execution, broadened the portfolio and invested in its brands. All of this has led to strong momentum in the business.
Specifically in Coke Zero, as well as hydration drinks. On the latter, multiple water categories are performing well, and the company's new stake in BodyArmor is promising.
As for the company's $5.1 billion acquisition of Costa Coffee, Quincey said the company does not plan to go head-to-head with Starbucks (SBUX) . Rather, it's looking to take advantage of a segment that has, in the company's view, a total addressable market of more than $500 billion.
One of the challenges for Coca-Cola is finding the "sweet spot" in branding, Quincey said, explaining that the company can't have just large global brands nor can it have thousands of local brands only known in small areas. There needs to be a balance.
As for cannabis, Quincey said it comes down to three things when dealing with this new product: Is it legal, is it safe and is it consumable?
Cramer Does His Homework
Cramer wanted to circle back on a couple of stocks that had stumped him during earlier shows. He did his homework, like he advises all investors to do. The first stock was USA Technology (USAT) , a payment processing company. At first glance, USA Technology seems like a sure bet given that it serves as a self-service retail vendor -- think products like self-checkout, laundromats and kiosks.
However, this stock has been in free-fall thanks to the company launching an internal investigation and delaying its earnings. One of Cramer's longstanding rules is, "accounting irregularities equals sell," and therefore USA Technology is a no-touch.
The other stock was TPI Composites (TPIC) , which makes composite materials for windmills. It may seem like the company is a lay-up with the renewable energy theme, but there are issues.
First, 40% of sales come from China, a situation that causes some worry right now. Further, 45% of sales came from General Electric (GE) last year, a company that is also struggling at the moment.
Neither of these situations are optimal and thus Cramer is not endorsing TPI Composites.
In his "No-Huddle Offense," Cramer wanted to take a closer look at Nvidia, which fell almost 19% Friday after reporting earnings on Thursday evening.
Someone asked Cramer is he was planning to rename his dog, previously named Nvidia.
Cramer said no, he had already changed the dog's name back to Everest when he said to sell the stock in early October in the highs-$200s.
He grew worried about the company's inventory and pricing power in light of the dwindling demand from cryptocurrency mining. And that's exactly what hurt Nvidia's quarter and its forecast.
While he believes it was an honest forecasting mistake, Cramer said it's still too early to buy Nvidia. It will likely have inventory issues for the next two quarters. If investors are already long, they need to ask themselves if they're comfortable holding onto the stock for a while with this knowledge.
If they are, then rest assured eventually Nvidia will get it right because it's a great company. But it's going to be in the penalty box for a while, Cramer concluded.
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