NEW YORK ( TheStreet) -- "Good things can happen to bad markets," Jim Cramer announced to the viewers of his "Mad Money" TV show Friday, as he outlined his game plan for next week's trading action. Cramer said investors need to pay attention to the results of a few key companies for a read on the health of the overall economy. Starting on Monday, Cramer said that Tiffany ( TIF) will be the stock to watch. He said the company has a lot of Japanese exposure and he wants to see if the market still punishes the stock, which is already down big since the crisis began. On Tuesday, Cramer said Dollar General ( DG) will offer a read on the health of the consumer, while drugstore Walgreens ( WAG) will offer insight into its battle to take market share from ailing competitors. Also on Tuesday Cramer will be at the CTIA Wireless Conference in Orlando, with all the latest news on the mobile smart phone revolution. For Wednesday, General Mills ( GIS) will provide an update on higher food prices, and whether the company can sustain its margins. Paychex ( PAYX) will provide the real story on the job front, while ConocoPhillips ( COP) will update shareholders on the real situation with oil prices. Then on Thursday, Cramer said Best Buy ( BBY) and Research In Motion ( RIMM) will report. Cramer said he's given up on both these names, but feels that Oracle ( ORCL), a stock which he owns for his charitable trust,
Speculative Medical Device PlayFor "Speculation Friday," Cramer once again looked towards the medical device makers for a safe place to speculate. He said these stocks are primarily domestic, with little international exposure, have no generic competition like the drug stocks, and have found favor in Washington. Among the group, Cramer singles out Heartware ( HTWR) as his favorite. He said that Heartware makes devices to help those waiting for heart transplants, and with 5 million people in the U.S. suffering from heart disease, the market opportunity is growing. Heartware is waiting for FDA approval for its lastest assistive device, a device that's already been deemed superior in Europe, with a 90% survival rate versus only 78% for the competing device made by Thoratec ( THOR), of which Cramer is not a fan. Cramer said the Heartware device is clearly superior, with a faster surgery, faster recover and fewer complications. Cramer was also a fan of Heartware gaining approval for "destination therapies," devices that forgo the need for a transplant altogether. Approval for destination therapies is expected in 2013. Shares of Heartware are $15 off their $99 high, and Cramer said that makes this speculative name a steal.
A Lot to LikeContinuing with "Speculation Friday," Cramer also highlighted Tornier ( TRNX), a little known orthopedic company that makes implants for extremities such as shoulders, feet, wrists and ankles. Tornier came public last month at $18 a share, and since then, Cramer said investors haven't missed much. But there's a lot to like about Tornier, said Cramer. The company pretty much dominates the markets in which it competes since many of the bigger players have deemed extremities too small to be profitable. Tornier is expected to introduce a whopping 19 new products in 2011, helping the company reach profitability by 2012. Cramer said Tornier is interesting as a speculation now, before its profitable, because shares trade at just 2.5 times sales. Based on recent analyst estimates, the value of Tornier's different businesses values the company between $23 and $25 a share. Given its many new product introductions, and its expansion into China, South America and Japan, Cramer said investors shouldn't wait for Tornier to break even.