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NEW YORK (TheStreet) -- Feeling a little new-high fatigue after the Dow and S&P 500 reached new highs yet again? Jim Cramer asked his Mad Money viewers Friday. Well, here are some ideas to watch next week to get you excited about the market again.
U.S. industrial stocks that do business in China have been on a tear, Cramer said. China's manufacturing PMI number, due Monday, is a critical read for them. In addition, the semiconductor sector has been a real standout, especially Micron (MU), which reports Monday after the close. Cramer expects a lights-out quarter.
Oracle (ORCL) disappointed today, down nearly 4% after reporting fourth-quarter 2014 numbers that fell short of expectations. Cramer still expects it to go down a little bit more Monday before coming back.
Tuesday brings earnings from pharmacy giant Walgreen (WAG). Cramer thinks the company will announce a restructuring that could send the stock even higher than its already stand-out performance this year, especially if it is able to complete a deal that allows it to move to tax-friendly Britain.
Wednesday brings earnigns from Monsanto (MON), which Cramer said is becoming more of a biotech company than an agriculture play, Cramer said. Monstanto is always heavily shorted because its controversial and overvalued, but he'd be a buyer on any dip.
Meanwhile, Cramer said General Mills (GIS) will deliver a decent number that will get a subdued reaction and then bounce back because it does offer a pretty good yield.
Hes more of a fan of beer stocks, including Molson Coors Brewing (TAP), which also reports Wednesday. Hes expecting to learn of a big restructuring or merger plans.
Accenture (ACN) and Nike (NKE) report Thursday. Accenture has come on strong lately, Cramer said, with a rebound in enterprise-technology spending. Nike, part of Cramer's charitable trust Action Alerts PLUS, refuses to budge on even the best of days. That's usually not a good sign, and Cramer said he's nervous. Still, long-term growth has been so good that he's holding on.
Friday we get results from KB Homes (KBH), a company that can't put a decent streak together. Cramer thinks it's just too hard for people to get a mortgage these days, and young people have so much college debt that they cant even contemplate buying a house, Cramer said. He's bracing for bad news.
The bottom line, Cramer said, is we are in the home stretch of the quarter. Barring a takeover of the oil fields in southern Iraq, which would send the price of oil skyrocketing, we should glide nicely into the end of the quarter with some good buys to be had, Cramer said.
What the Market Is Saying
Is is time to ring the register with Chevron (CVX) trading at $131? That question gave Cramer sticker shock and he wondered, what can Chevron's unusual success tell us about today's markets? If you bought Chevron every time it dipped below $120 and sold in the high $120s, you made a killing over the past year, Cramer said.
Meanwhile, since November, PPG Industries (PPG) had languished in the $180-$190 range. Three weeks ago, it broke out and is still running higher. EOG Resources (EOG) and Union Pacific (UNP) have both gone from tiptoeing higher to galloping higher.
The graybeards in the market tend to be repelled by these kind of stocks, deeming them too expensive, Cramer said. They're cynical about breakouts they missed. Once a stock has consolidated multi-year gains and then blasted off to record levels, they tend not to come back down, Cramer said.
Cramer doesn't care where a stock is coming from but where it's going to, and he's willing to swallow his pride when he misses one, as in the companies mentioned. These differ from Walgreen and Monsanto breakouts, where he shrugs and admits that he whiffed on them.
Ideally, Cramer said, you spot a stock or sector before sticker shock has a chance to set in. That's how he feels about the aerospace and bank segments of the markets.
High on GW Pharmaceuticals
Cramer's been gazing at a serious opportunity in UK-based marijuana stock GW Pharmaceuticals (GWPH).
This isn't merely a speculative play on more U.S. states legalizing medical marijuana for cancer patients, Cramer said. The company concentrates on creating new drug treatments from the compounds found in the plant. Doctors dont want to write a prescription to smoke a joint, Cramer said, but theyre much more comfortable prescribing a pill.
GW Pharmaceuticals has an impressive pipeline of drugs made from cannabis. A mouth spray for multiple sclerosis spasms, Sativex, has been approved in some 25 countries, Cramer said. The company is also studying its use as a cancer drug. If the drug gets approved by the U.S. Food and Drug Administration, "it could be huge," since GW Pharmaceuticals has licensed overseas rights to the treatment to Bayer and Novartis (NVS) but retains exclusive rights in America.
A second drug, Epidiolex, derived to treat severe epilepsy, is in phase II trials and demonstrating "fabulous results," Cramer said.
While it will be years before this second drug is approved, peak sales forecasts are up to $3.4 billion by 2024, Cramer said. That's why there's significant opportunity in this stock.
And the Winner Is...
All week Cramer has been looking at winning international stocks in conjunction with the World Cup, and now he's ready to declare a winner.
His choices were Dutch companies Unilever (UL) and Royal Dutch Shell (RDS.B), Constellation Brands (STZ) with its huge Mexican beer business, and Anheuser-Busch InBev (BUD), the U.S./Brazilian/Belgian beer juggernaut. He even named GW Pharmaceuticals his "sympathy candidate" from England.
Cramer's winner is Constellation Brands -- in part because a major deal in the beer space could be imminent. Morgan Stanley just updated Molson Coors to hold from sell, and Cramer thinks it's because the analyst must smell a deal coming. Molson would be perfect for Constellation, Cramer said, and that makes it a winner.
As part of CNBC's "Disruptor 50" series, Cramer welcomed Josh Tetrick, CEO of Hampton Creek, a private company backed by some big-time venture capital names and poised to disrupt the food industry.
Tetrick's company is using plants to replace eggs in a variety of food products, Cramer said, making their products a replacement option for people with high cholesterol and those who choose or must avoid animal proteins in their diet.
Cramer has always been intrigued by the investment opporuntiis in the healthy food space, but only if the products actually taste good. Cramer sampled Hampton Creek's new "egg-equivalent" eats, and deemed them "absolutely delicious."
Tetrick said that what separates Hampton Creek and makes it a potential industry disruptor is that it's not just sold in high-end supermarkets like Whole Foods (WFM). You can also find their products in Safeway (SWY), Costco (COST) and, soon, Dollar Tree (DLTR), Tetrick said.
Cramer said the company could transform the food industry.
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-- Written by Chris Sahl in Boston.