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Note to buyers and sellers of stocks: Calm down and think before you act. Those were Jim Cramer's cautionary words to his Mad Money viewers Friday after another down day that found the stocks of some high-profile tech names getting slaughtered.
Cramer said the big fund managers have made up their minds and they're no longer willing to pay up for high-growth tech. That's how a stock like LinkedIn (LNKD) gets cut in half, down 43%, and likewise with Tableau Software (DATA) , down 49%.
It's still too early to pick at the rubble, Cramer explained. Investors are still coming to grips with the fact that world growth is indeed slowing. That makes this week's game plan tricky.
Cramer told viewers to stay away from Yelp (YELP) when the company reports on Monday. This is another stock that's still expensive on earnings.
On Tuesday, however, Coca-Cola (KO) will be reporting and this is a steady business that's safe to invest in. Not so with Walt Disney (DIS) , which also reports Tuesday. Disney now trades on its cable subscription numbers and nothing else, which is why investors should be prepared for weakness.
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Thursday brings a mixed bag of earnings. Kellogg (K) , Molson Coors (TAP) and Pepsico (PEP) all fall into the "safe" camp with Coca-Cola. But then there's also Zillow (Z) , which is another hard-to-value tech name that must be avoided.
The tech stocks are falling knives, Cramer concluded, and it's best to stay out of the kitchen until gravity has run its course.
Executive Decision: Mark Fields
For his "Executive Decision" segment, Cramer sat down with Mark Fields, president and CEO of Ford (F) , the automaker that trades at just five times earnings with a 5.2% dividend yield.
Fields said Ford shares are being undervalued by the markets as investors underestimate the health of the U.S. economy and Ford's ability to improve overseas. Ford remains focused on growth, improving margins and rewarding shareholders, he said.