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NEW YORK ( TheStreet) -- "Be careful not to overstay your welcome," Jim Cramer told his "Mad Money" TV show viewers on Friday. He said without the hint of a European interest rate cut or more details on a plan for Greece, the markets are likely to get hammered again. It's time to get a little more cautious, Cramer said, as he laid out his Friday game plan for next week's trading. On Tuesday, Cramer said he'll be watching the nightmare that's become Alcoa ( AA), a stock whose estimates have become so low the company might just be able to meet them. For Thursday, it's Pepsico ( PEP) that will have Cramer's ear. With worldwide growth and a 3.5% yield, Cramer said "I want in." The same did not hold true for Safeway ( SWY), which reports Thursday. Cramer said this grocer is under attack from all fronts. Also on Thursday, JPMorgan Chase ( JPM), a bank that needs to say something positive, like a dividend boost, to help it's ailing shares. Then there's Google ( GOOG) a company under scrutiny for out of control spending and a loss of mindshare when compared to Facebook. Finally for Friday, Cramer said toymaker Mattel ( MAT) might have some positive things to say about the holiday season. This one might make an interesting spec, he said. In other news, Cramer noted an investment survey hitting the street on Wednesday. He said any uptick in bearish sentiment will be good news, as it will imply there are fewer people left to sell.
Moving Up
For "Speculation Friday," Cramer highlighted Ulta Salon ( ULTA) a discount beauty retailer that's made the transition to a high-end experiential beauty destination. Cramer said that Ulta stores are full-service salons, offering hair, nails, perfume, cosmetics and more. The company have been delivering spectacular earnings with growth nearing 90%. The beauty market is $96 billion in the U.S. Ulta operated 415 stores, but estimates the U.S. market could support up to 1,000 locations. Ulta last reported a six-cent-a-share earnings beat on a 22% jump in revenues. The company also saw same-store sale growth of 11.3% and a 1% decline in inventory. The stock has a history of popping on its earnings releases, which will come again in early Dec. So why is Ulta speculative? Cramer said its because of its valuation. Ulta trades at 30 times earnings, but only has a 24% growth rate. The company does that $3 per share in cash however and will have no debt by year's end.Restructuring Push
Closing out his "Paid To Wait" series of high-yielding dividend stocks, Cramer dove into the stock of ConocoPhillips ( COP), a 4.1% yielder that's taking control of its own destiny with massive restructuring efforts. Cramer said Conoco has a lot of parts in motion, the first of which is a commitment to sell billions of non-core assets and focus on its exploration and production efforts. The company also has a sizable stock buyback program in place. Cramer said that normally he's not a fan of buyback programs, but in this case, the program is reducing the shares outstanding by 24%, a meaningful amount. Taking its restructuring one step further, Conoco is also splitting itself into two companies, spinning off it's downstream refining and marketing business and keeping its exploration and production completely separate. Cramer said this is one case where the sum is worth less than its parts, and he expects Conoco to unlock a lot of value with the split, which follows in the footsteps of Marathon Oil ( MRO). Cramer said he's also confident that Conoco will remain committed to its dividend, raising it even further as the company's coffers fill with cash from its asset sales and streamlined operations. Add that to the prospects of a growing global economy and ConocoPhillips is a winner, said Cramer.
