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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways.
Deere & Co. (DE) : Sometimes, a company can really turn things around, Cramer told viewers, and that was certainly the case with Deere & Co., the stock of which took a leap that no one anticipated.
Deere's stock had fallen from more than $100 a share to just under $70 as the company fought against both weakening end markets and a strong dollar. Even when Deere's earnings weren't that bad, the company's management scared investors away with grim commentary on their conference call.
But this quarter saw a stunning 50-cents-a-share earnings beat, yes, 50 cents -- enough to send shares rocketing 11% in a single day.
Cramer said Deere now seems to be doing everything right, with the company's agriculture and turf division seeing sales increase by 37%. Financial services were also a bright spot for the company, as were its cost-cutting efforts.
Better still, Deere management only had good things to say about the outlook. Cramer said the move in Deere shares was a lot more than a typical short-squeeze; the earnings estimates are now too low and need to taken higher. Deere, he said, is a buy right here and a strong buy on any weakness.
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