As sellers tighten their grip and take down stocks, companies are fighting back with one tool at their disposal: stock buybacks.
Jim Cramer offered these "gifts for listeners" to use in this uncertain market environment on his "RealMoney" radio show Friday. On Thursday, the market witnessed the buyback wave with Coca-Cola ( KO), Microsoft ( MSFT), CSX ( CSX) and Black & Decker ( BDK), as the companies bought back stock. In addition, PepsiCo ( PEP), Citigroup ( C), Bank of America ( BAC) and Wells Fargo ( WFC) are some other companies that have been buying back stocks, Cramer said. Meanwhile, infrastructure plays and oil drillers are getting slammed as people sell these stocks and get into companies such as PepsiCo and Johnson & Johnson ( JNJ), Cramer said. Even though Caterpillar ( CAT) recently reported a beautiful quarter, the stock is down, Cramer said, and Schlumberger ( SLB), which also reported a good quarter, has not been doing well either. Other stocks getting hit include Starbucks ( SBUX) and Panera Bread ( PNRA), which are going down because people believe that these companies don't have any growth prospects.
The housing sector is so bad that it is affecting more than just homebuilders, said Cramer.