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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Ventas (VTR - Get Report) : Healthcare real estate investment trust Ventas has been under fire this year, with a slew of downgrades and negative press -- but its shares are still soaring, up 22% for the year to a new all-time high. Cramer dove in to figure out what's really going on.
Ventas is a real estate investment trust that operates in the healthcare space, Cramer explained, consolidating a fragment industry of hospitals, senior living facilities and other medical-oriented properties. The company has a history of making smart acquisitions to fuel its growth.
While it's true that Ventas is being hurt by rising interest rates, which make bonds more attractive against the company's 4.2% dividend yield, Cramer said the negative case against Ventas just doesn't make sense. Ventas recently spun off Care Capital Properties (CCP) , its skill nursing facilities, in response to concerns over falling Medicare payments. Earnings are decelerating, he admitted, but that's only because Ventas is slowing its acquisitions in what's becoming a frothy market.
Trading at 16 times earnings with a 4.2% yield and a track record of solid results, Cramer said he's not giving up on Ventas.
Tiffany (TIF - Get Report) and Signet Jewelers (SIG - Get Report) : After posting a lackluster year in 2015, the jewelry stocks have seemingly fallen off a cliff this year, with names such as Tiffany off 19% for the year and Signet Jewelers plunging 30%. But should investors be looking for bargains among this group? Cramer thinks not.
Cramer last spoke about Signet back in October and since then some of the company's customers have accused it of losing or replacing their diamonds with those of lesser quality. While Signet denies these charges, Cramer argued that the hit to the company's reputation will make fewer people want to shop there.
Signet also has a problem with its credit portfolio, which some investors fear has become too risky for the company to manage. They're also not pleased with Signet's acquisition of rival Zales, which was at the peak of the market.
Cramer characterized Tiffany as a caged animal with no real idea how to escape from its sales slump. The company's same-store sales declined by another 9% last quarter alone. Cramer said Tiffany is wildly mismanaged and is even worse at setting expectations for Wall Street.
Is there hope for Signet, which trades at just nine times earnings, or Tiffany at 16 times earnings? Cramer couldn't make a case for owning either.
Costco (COST) : The big credit card switch at Costco is finally at hand, as the company today dropped American Express (AXP - Get Report) in favor of rival Visa (V - Get Report) . But that doesn't mean that investors should follow suit and rush to sell American Express and buy Visa, Cramer said.
There's no doubt that losing Costco as a customer hurts American Express. Shares of the company fell 6.4% when the news was first announced, Cramer noted, but Amex faces a number of even more challenging headwinds, like continued low interest rates and increasing competition. Meanwhile, shares of Visa are near all-time highs as the financial giant is immune to low rates and merely takes a small percentage of every transaction.
But Cramer said the biggest winner in this shakeup is Costco itself, which will not only save between $110 million and $220 million a year in transaction fees, but also opens itself up to millions more customers. That's why he reiterated his recommendation of Costco.
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