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NEW YORK ( TheStreet) -- Some of the market's "losing" stocks are getting back into the game, Jim Cramer told his Mad Money viewers Thursday. Only this time, they're playing better than ever.
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Cramer said Walmart (WMT) is one such stock. After posting declining same store sales, Wal-Mart today delivered an upside surprise that sent shares up 4.7%. The company's new, smaller-format stores are a big hit with shoppers and Walmart had a strong back-to-school and Halloween season on the heels of cheaper gasoline and improving employment.
Also surprising to the upside was Cisco (CSCO) , which posted strong results in both the U.S. and Europe, as it declared victory over its rivals.
Cramer was also bullish on Boeing (BA) , noting that the company's Dreamliner issues should pass soon, right as defense spending begins to increase. Disney (DIS) also made Cramer's radar screen, as that company's movie lineup continues to impress investors.
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With shares of J.C. Penney (JCP) taking another 8.5% plunge, is it time for investors to start bottom fishing? Cramer said "not so fast."
While Cramer admitted that Penney, under CEO Mike Ullman, has made remarkable strides over the past 18 months to get itself back on course, trivals haven't been standing still. That leaves Penney at a sizable disadvantage.
Both Macy's (M) and Nordstrom (JWN) have been investing heavily in technology, Cramer explained, creating an omnichannel strategy where customers can buy online and pickup in store, or vice versa. JC Penney, however, still needs to play catch-up, and that will take both money and time to complete.
Cramer said while Penney may seem like a bargain at $7 a share, when it comes to value, Macy's at $61 a share offers a lot more going into this holiday season.