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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.
Six Flags (SIX) - Get Six Flags Entertainment Corporation Report : In an exclusive interview, Cramer spoke with Jim Reid-Anderson, chairman, president and CEO of Six Flags, which just reported a solid quarter with a 9% rise in theme park attendance.
Reid-Anderson said Six Flags' strategy of innovating with new attractions at every park every year is working, leading to huge increases in attendance at all of the parks. Just a few years ago, 23 million guests was a record-breaking year. Over the past 12 months, Six Flags has seen 28 million guests.
Adding to those attendance numbers are events like the company's annual Fright Fest, as well as adjustable pricing that scales up and down to best fit a park's current circumstances.
When asked about the company's excess capital, Reid-Anderson said Six Flags has all of the capital it needs to build new attractions and still provide its dividend and stock buyback programs.
Given the high barriers to entry for new competitors, Cramer said Six Flags remains a winner.
Schlumberger (SLB) - Get Schlumberger NV Report : When a stock is unloved, people can get too negative, Cramer told viewers, and that's the case with Schlumberger, a stock that has fallen from its highs near $118 a share to just over $74 a share.
How can investors know that Schlumberger has found its bottom? Cramer said the company reported a weak quarter Thursday and offered very negative commentary, yet the stock barely moved. That's a bottom.
Schlumberger had very little positive to share, Cramer said, including calling its outlook "challenging," with continued pricing pressures and little hope of a recovery until 2017.
But while the company is always offers honest outlooks, Cramer said it's also a solid operator with 18% operating margins. Given that it's rare to be able to buy Schlumberger at such a discount, Cramer said the time to buy is now.
Mondelez (MDLZ) - Get Mondelez International, Inc. Class A (MDLZ) Report : Following in the footsteps of activist investor Nelson Peltz has been a very smart move over the past several years, Cramer told viewers, as he recommended Mondelez (MDLZ) - Get Mondelez International, Inc. Class A (MDLZ) Report , the international snack food giant that Peltz has owned for the past three years. Cramer said this stock has already returned 51% since Peltz first got involved, but still has more to run.
In short, Cramer said this maker of Oreo cookies and Trident gum is only just beginning its efforts to cut costs, increase margins and better its manufacturing. It's only just scratching the surface of growing its portfolio of powerful brands.
Additionally, activist Bill Ackman just recently took a 7.5% stake in Mondelez, another sign that this company may only just be getting started.
Cramer said with Mondelez reporting earnings Wednesday, he's not advocating buying this stock ahead of its release. Wait to hear what the company has to say, then buy in on any weakness.
Cramer said it's clear that Walmart had make a bold move to shake up its business or risk dying a slow, painful death. While some may argue that the way Walmart chose to make its announcement blindsided shareholders, in hindsight the company's three-year investment plan seems like the right move.
The market is rewarding growth, Cramer said. Investors only need to look at Amazon.com (AMZN) - Get Amazon.com, Inc. Report for proof of that. So if Walmart is making huge investments in its infrastructure over the next three years to compete with Amazon, that's a good thing, right?
What if Walmart is able to beef up its online services and offer easy returns at its stores, or maybe offer same-day delivery from its stores? That could be enough to jump-start the growth Wall Street is seeking.
So while Walmart may not be investable now, investors should be applauding the company's decision to take an earnings hit and do what it probably should've been doing all along, evolve and compete head to head with the best of them.
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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.