Pay Attention to Actavis
The world's third-largest generic drug maker reports earnings Tuesday and Cramer told viewers they should be paying attention.
Cramer explained that Actavis (ACT) popped up on his radar after fund manager Leon Cooperman made the company one of his top picks. Shares have already rallied from $80 to $216, but both Cooperman and Cramer think there's still lots more to come.
Unlike the biotechs, which live and die on FDA approvals and rejections, generic drugs are a fairly stable growth-oriented business. Actavis creates value for shareholders through smart acquisitions, but still trades at just 13 times earnings with a 19% growth rate.
With a smart management team and a strong balance sheet, Cramer said he expects good things when the company reports earnings on Tuesday morning. He suggested using any weakness to buy into this terrific growth story.
Chart Week: 'FANG'
Lang said that the daily chart of Facebook, an Action Alerts PLUS name, moved up on its earnings and has been "filling in the gap" even since, getting ready for its next move higher. He was also bullish on Facebook's weekly chart, which showed a flag pattern.
Amazon has been a troubled stock, down 21% for the year, but Lang noted the chart shows it retesting the $207 level, indicating it can begin to recover.
Lang said Netflix needs to cross above its 50-day moving average before it can resume higher, but he thinks it will as the weekly chart's Williams %R oscillator remains strong.
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Finally, Lang noted that Google, another Action Alerts PLUS holding, may look like a double top with its weekly chart, so he's going to wait and see before recommending it.