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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Spirit Airlines (SAVE) - Get Report : In an exclusive interview, Cramer welcomed Ben Baldanza, president and CEO of Spirit Airlines, a stock that fell 8.4% today after the company reported a 3 cents-a-share earnings beat. Shares of Spirit are now down over 54% for the year and trade at less than eight times earnings.
Baldanza explained that after a big round of consolidation in the airline industry, everybody thought capacity would remain stable. But with fuel prices so low the industry is growing again, which means prices per seat have been falling.
But despite tightening margins, Baldanza noted that Spirit remains profitable and has been since 2007. He said his airline isn't making any wholesale changes to its business model because it doesn't have to. However, the company is adjusting as needed to the increased competition.
Cramer said he likes that Spirit is never afraid to answer the tough questions.
Back on Oct. 16, Gildan received both an upgrade and a downgrade from competing research firms, then received a second negative note a few days later. That sent shares of Gildan, which had rallied from just $9 in 2011 to a high of $35, down over 10% in just over a week, back down to its 52-week lows.
So who's right? Cramer said the bulls cite Gildan's strong momentum over the past few years and its continued opportunities for growth. Meanwhile, the bears see weakness in retail that could adversely affect what they view as a commodity player.
Cramer said with shares trading at 14.5 times earnings, they're cheap but not cheap enough given the slowdown that retailers are indeed reporting. He said Gildan has terrific products and a powerful story, but in the short term this stock is likely heading still lower.
T-Mobile (TMUS) - Get Report , Verizon (VZ) - Get Report , AT&T (T) - Get Report and Sprint (S) - Get Report : In his "No Huddle Offense" segment, Cramer used the current state of the telecom industry as a lesson in stock picking.
He called T-Mobile's 5.7% decline today "unjustified" and a rare opportunity to buy a company that is looking great for 2016 as its network buildout expenses begin to slow.
Then there's Verizon, a much safer stock that has become a bond market equivalent with a nice 4.9% yield. AT&Talso offers a solid yield of 5.6%, but is a slightly riskier bet with shares off 1% for year the year.
Finally, there's Sprint, a stock that is always considered a takeover target, with shares that are up 17% for the year.
Which one is best for you? Cramer said it depends on your risk tolerance. Are you looking for safe and steady or is a faster-growing stock or even a takeover bet more your style?
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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.