General Electric's ( GE) solid second-quarter results bode well for the rest of the market, Jim Cramer told viewers Friday night on his "Mad Money" show. Though he couldn't tell his CNBC viewers what to do specifically with General Electric -- because Cramer works at CNBC, which is owned by General Electric -- he did give his audience plenty of other names that could benefit from GE's strength. GE Energy's solid results bode well for Calpine ( CPN) and Dynegy ( DYN), Cramer said. GE Transportation? That's good for Trinity Industries ( TRN). But what about the fact that transportation and energy stocks shouldn't both do well at the same time? The textbooks, Cramer said, say that both should not work at the same time. But forget what the textbooks say. They're both working in this environment. GE's plastics business? Buy Dow Chemical ( DOW). The company to own because of GE Financial's results? CIT Group ( CIT). GE Aviation? Own Boeing ( BA). GE Health? Varian Medical Systems ( VAR), even though the company competes head-on with General Electric. Cramer thinks that business is so good that everyone can win. Doing a little housecleaning, Jim Cramer got back to Symbol Technologies ( SBL), which he recommended buying on Wednesday. On Thursday after the bell, however, the company warned that business isn't doing so well. As a result, it lowered its financial guidance. The stock fell almost 11% on Friday. But Cramer
'The Lightning Round'
BullishCramer was bullish on: Hilton Hotels ( HLT), Domino's Pizza ( DPZ), McDonald's ( MCD), Starbucks ( SBUX), GameStop ( GME), Cimarex Energy ( XEC), ATI Technologies ( ATYT), Mercury Interactive ( MERQ), Caterpillar ( CAT), Nalco Holding ( NLC), Pentair ( PNR), DR Horton ( DHI), Toll Brothers ( TOL), Lennar ( LEN), Genzyme ( GENZ), Pixar ( PIXR), ev3 ( EVVV), Symantec ( SYMC), Amylin Pharmaceuticals ( AMLN), Intel ( INTC), MetLife ( MET), Prudential Financial ( PRU), Commerce Bancorp ( CBH), Arch Coal ( ACI), Nvidia ( NVDA) and St. Mary Land & Exploration ( SM).
BearishCramer was bearish on: Electronic Arts ( ERTS), DHB Industries ( DHB), Bucyrus International ( BUCY), Ford ( F), Eyetech Pharmaceuticals ( EYET), Southern Peru Copper ( PCU), Las Vegas Sands ( LVS), Paxar ( PXR), AngioDynamics ( ANGO), M Systems ( FLSH), Headwaters ( HW), Edge Petroleum ( EPEX), Penn Virginia Resource ( PVR), Lattice Semiconductor ( LSCC), International Rectifier ( IRF), Washington Mutual ( WM), Intermix Media ( MIX), OmniVision Technologies ( OVTI) and Amsouth Bancorp ( ASO).
Interested in more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here. It's a series of articles from Cramer on how to become a better investor. The following table lists some of the rules that Cramer dissects.
|1.||Pigs Get Slaughtered||2.||It's OK to Pay the Taxes|
|3.||Don't Buy All at Once||4.||Buy Damaged Stocks|
|5.||Diversify to Control Risk||6.||Do Your Homework|
|7.||Don't Panic||8.||Buy Best-of-Breed|
|9.||Defend Some Stocks||10.||Don't Bet on Bad Stocks|
|11.||Own Fewer Names||12.||Cash Is for Winners|
|13.||No Regrets||14.||Expect Corrections|
|15.||Know Bonds||16.||Don't Subsidize Losers|
|17.||No Room for Hope||18.||Be Flexible|
|19.||Quit When Execs Do||20.||Patience Is a Virtue|
|21.||Be a TV Critic||22.||When to Wait 30 Days|
|23.||Beware the Hype||24.||Explain Your Picks|
|25.||Find the Bull Market|
|Check back for more of Cramer's Rules|