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NEW YORK ( TheStreet) -- Next week's earnings news could offer clues on what to buy for the rest of the year, an upbeat Jim Cramer told his Mad Money viewers Friday.
On Monday, Cramer said, he'll be watching earnings from Apple (AAPL - Get Report) , a stock he owns for his charitable trust, Action Alerts PLUS, along with Chipotle Mexican Grill (CMG - Get Report) , apparel maker VF Corp (VFC - Get Report) and IBM (IBM - Get Report) . Cramer said Apple remains a long-term buy, as is Chipotle, down 50 points from its highs. If VF Corp reports strong earnings, Cramer said, that will be a cue to buy other retail names. As for IBM, Cramer said this stock is just not worth owning.
Next, on Tuesday, it's Yahoo! (YHOO) , Coca-Cola (KO - Get Report) and Kimberly-Clark (KMB) in the spotlight. Cramer said he'd buy Yahoo! into any weakness, but he likes Pepsico (PEP - Get Report) in the consumer packaged-goods space much more than either Coke or Kimberly.
Then, on Thursday, a pair of industrial names: 3M (MMM - Get Report) and Caterpillar (CAT - Get Report) . Cramer said 3M is a buy, buy, buy if it reports good things, and even Caterpillar should surprise to the upside. As for Amazon, Cramer said he prefers Alibaba (BABA - Get Report) .
What the Heck?
In his "What The Heck?" segment, Cramer looked into Dr Pepper Snapple (DPS) , our nation's number three soft drink maker, which has managed to rack up a 30% gain since 2014 began and 14% since Cramer last recommended it in May.
Cramer said Dr Pepper has managed to outperform both Coke and Pepsi in recent months and is now the top dog in the non-cola category thanks to a terrific portfolio of brands including Mott's, A&W, Margaritaville and countless others.
There are huge barriers to enter the soft drink business, Cramer told viewers, which is why Dr Pepper pretty much only competes with the big two of Coke and Pepsi. The company is a superior operator with 21% operating margins, he continued.
Dr Pepper has bought back $2.5 billion worth of its own stock and recently boosted its dividend by 8%. Trading at just 16.7 times earnings, Cramer said Dr Pepper is a steal compared to Coke with a 19.9 multiple.
Cramer said he'd be a buyer of Dr Pepper Snapple on any weakness.
Cramer Revisits His Top 10 List
Oh, what a difference a week makes. On Monday, Cramer outlined his top 10 list of things the market needed to see before if would be safe to start buying again. Today, many of those items came true.
Cramer said with today's appointment of an Ebola czar, confidence has been restored. Check. All sectors of the stock market have sold off. Check. Speculative stocks have fallen into line. See Netflix (NFLX - Get Report) , check.
Oil prices have found their footing. Check. Stabilization in the tech sector and an end to sanctions in Russia? Well, not yet, but things look like they may be moving in a positive direction, Cramer said.
As for the market's technical indicators, the VIX, a measure of volatility is indeed retreating. Check. Is a Chinese stimulus package in the cards? Cramer said some rumors say yes, so a check may be coming this weekend.
Finally, there's ISIS, which did suffer its first defeat and retreated. Check.
With so many items now off the list, Cramer said it is safe to do some buying of quality stocks that have been beaten down hard this week.
Hidden Stock Gems
Don't let market sentiment distract you from winning stocks, Cramer told viewers as he put the spotlight on a few hidden gems the market simply missed amid all the panic.
Both Bank of America (BAC - Get Report) and Goldman Sachs (GS - Get Report) , two Action Alerts PLUS holdings, also saw huge profits that were largely ignored when they reported. Cramer said he remains a fan of both companies.
In the Lightning Round, Cramer was bullish on Universal Insurance (UVE - Get Report) , Mettler-Toledo International (MTD - Get Report) , Gilead Sciences (GILD - Get Report) , Celgene (CELG - Get Report) , Regeneron Pharmaceuticals (REGN - Get Report) and Molson Coors (TAP - Get Report) .
Am I Diversified?
In the "Am I Diversified?" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.
Cramer said he is not a fan of New York Community Bank but otherwise this portfolio was properly diversified.
Cramer said GoPro is too pricey at current levels but this portfolio had nice diversification.
Cramer blessed this portfolio as properly diversified.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
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-- Written by Scott Rutt in Washington, D.C.
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