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NEW YORK ( TheStreet) -- The one event thing that could've derailed the market rally was the nonfarm payrolls report, Jim Cramer told his Mad Money viewers. However, the 321,000 jobs that were created in November were much better than expected, which basically paves the way for a year-end rally.
While he likes both stocks and expects to hear good things at the conference, investors should wait for a pullback before getting long Agios, he said. He also expects positive commentary from Dover’s (DOV) analyst meeting and thinks the recent selloff is a buying opportunity.
AutoZone (AZO) will report earnings on Tuesday morning. Cramer recommending buying the stock after the results are released, especially if the stock sells off.
Investors can own shares of Restoration Hardware (RH) ahead of its earnings release on Wednesday and should look for a pullback in Costco Wholesale (COST) if its earnings disappoint the Street. Cramer added that Land’s End (LE) , which also reports earnings, is a “keeper.”
“Thursday is the most exciting day of this week,” Cramer said, because it features United Technologies’ (UTX) investor day conference. Cramer hopes the company, a holding in his charitable trust Action Alerts PLUS, explains why the previous CEO left the company.
If shares of Cardinal Health (CAH) pull back between now and Friday, it’s a buying opportunity, he said. The company is scheduled to hold its “Dublin Day” conference for investors and analysts.
Winning With AbbVieRemember in mid-October when shares of AbbVie ( ABBV) sold off after announcing it would no longer pursue its acquisition of Shire ( SHPG) ? Cramer does. At the time, it seemed like a terrible move but it “may have turned out to be the best that ever happened to AbbVie,” he said.
It turns out the management of this Action Alerts PLUS portfolio stock has more than one way to create value for its shareholders. While the inversion would have helped with AbbVie’s tax rate at the time, the Treasury Department changed the rules that made it less attractive for it to do the deal. Instead, the company boosted its dividend by 17% and announced a $5 billion share repurchase plan.
The company has a promising hepatitis C treatment and if it can garner just 20% of that market, it could result in $4 billion worth of sales, Cramer said. Of course, the company would be competing with Gilead Sciences (GILD) , another stock he said investors should be long. AbbVie’s strong pipeline could pave the way for several multi-billion dollar treatments in the not-too-distant future, Cramer said.
The bottom line: “AbbVie is an incredibly shareholder-friendly company that is a heck of a lot more attractive than many of us had thought,” he explained. Its low valuation and ability to make accretive acquisitions make this stock a winner.