Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.


NEW YORK ( TheStreet) -- Once again Europe takes center stage in next week's game plan, Jim Cramer told his Mad Money viewers Friday, but he hopes the disappointments of Europe will only create opportunities to buy more U.S. stocks.

U.S. markets will be closed Monday but key economic data out of Europe and China may color the markets for the rest of the week.

On Tuesday, it's back to earnings with Halliburton (HAL - Get Report) , Netflix (NFLX - Get Report) and IBM (IBM - Get Report) reporting. Cramer said Halliburton is more domestic than rival Schlumberger (SLB)  so it may announce negative news that could also undo any potential market rallies. Cramer was also cautious on Netflix and IBM.

Wednesday brings earnings from Unitedhealth Group (UNH - Get Report) and United Rentals (URI - Get Report) , two stocks that could drive their sectors higher on any good news. Cramer was also bullish on General Dynamics (GD - Get Report) , saying investors should own this one ahead of earnings.

Then, on Thursday, it's another dreaded European Central Bank meeting along with earnings from Union Pacific (UNP - Get Report) , a stock with a good story to tell as there are currently no trains that run from the U.S. to Europe. Cramer was also bullish on both Starbucks (SBUX - Get Report) and Verizon (VZ - Get Report) .

Finally, on Friday, it's Honeywell (HON - Get Report) , another Cramer fave, and General Electric (GE) , a stock that is decidedly not a Cramer favorite.

In initial public offering news, Cramer said he's urging investors to get in on the Box IPO if possible.

Next-Gen Biotechs: PTC Therapeutics

Wrapping up his week-long focus on "Biotech, the next generation," Cramer sat down with Shane Kovacs, CFO of PTC Therapeutics (PTCT - Get Report) , another orphan drug maker and one of the hottest stocks of 2014.

Kovacs explained that while PTC is developing treatments for muscular dystrophy and cystic fibrosis, the company is only targeting small subsets of patients, those with specific genetic mutations of the disease, which is why they qualify for orphan status.

In total, Kovacs said only about 10% of patients have the specific mutation but it's getting easier, cheaper and faster to get tested to see which variant of these diseases doctors are dealing with.

Kovacs said all of these diseases are muscle-wasting disorders, which is why PTC's treatments focuses on keeping muscles healthy so they deteriorate more slowly. That's why it's critical patients get typed and start treatments as early as possible.

Cramer said PTC gave an excellent presentation earlier this week and any potential investor needs to read that presentation before investing in this promising company.

Where Everyone Wins

With oil prices stabilizing, the markets can finally catch its breath, Cramer told viewers. In fact, oil prices are currently in the "sweet spot" where everyone wins.

Cramer said it's inevitable that with oil prices cut in half from their highs, some oil companies will default on their bonds or go bankrupt. But with oil at current levels many oil companies will be able to refinance their debts so it won't become an oil default Armageddon.

Additionally, there will be layoffs in the oil patch but, again, with oil at current levels and stabilizing, the labor market could also find an equilibrium that, while not as good as before, certainly isn't bad.

Finally, with gasoline hovering near $2 a gallon, consumers are starting to realize the benefits of lower oil prices as well. Cramer said consumer don't need $1 gasoline to feel better about the economy; $2 will be just fine.

That why Cramer said the markets are in a sweet spot at current levels. Yes, there will be some pain, but it's nothing the strengthening U.S. economy can't handle. Everyone wins.

Next-Gen Biotech: Relypsa

For his second biotech-focused interview, Cramer spoke with John Orwin, president and CEO of Relypsa (RLYP) , which is working on a drug, Patiromer, to treat metabolic disorders that have not seen any new treatments since 1958.

Orwin said there is a "significant" unmet need for choices in the metabolic space because there are possibly 14 million to 15 million patients suffering from chronic kidney diseases and many of them may not even know it. It's important to have options that are well tolerated by the body, Orwin continued, and that's what Patiromer does.

Orwin explained Patiromer is a powder that's mixed with water and taken on a daily basis to bind with excess potassium in the blood and remove it from the body.

When asked about the FDA's decision not to convene an advisory panel to debate Patiromer's effectiveness, Orwin said he was encouraged by the decision, especially given that Relypsa submitted a quality submission with rigorous trials that proved the drug was both safe and effective for chronic daily use.

Cramer said that while Relypsa is a speculative stock, when Patiromer gets approved it will be a big win for the company.

Lightning Round

In the Lightning Round, Cramer was bullish on ICICI Bank (IBN) , Deckers Brands (DECK) and Denny's (DENN - Get Report) .

Cramer was bearish on CVR Refining (CVRR) , Ziopharm Oncology (ZIOP) and Avon Products (AVP - Get Report) .

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on the terrific news that Bill Johnson, former CEO of Heinz, is joining the board of Cramer fave Pepsico (PEP - Get Report) , thereby ending a growing battle between Pepsi CEO Indra Nooyi and activist investor Nelson Peltz.

Cramer said the appointment of Johnson was the perfect compromise. Johnson is now an adviser to Peltz after working closely with him at Heinz to help bring out value and ultimate get the company sold to Warren Buffett.

Johnson is a terrific consumer goods executive, Cramer said, and should work well with Nooyi, who is already committed to rewarding shareholders.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.

-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here: Scott Rutt

Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

At the time of publication, Cramer's Action Alerts PLUS had a position in SBUX.