Next week is the last heavy earnings week of the quarter, Jim Cramer told his Mad Money viewers Friday. But even if sellers swoop in after these companies report, the buyers usually aren't too far behind, Cramer said, as he laid out his game plan for next week's action.
Next, on Tuesday, Cramer said that General Motors (GM) might make a good trade and he'd buy National Oilwell Varco (NOV) after that company reports. Walt Disney (DIS) shares may be vulnerable going into earnings, but Cramer was a buyer on weakness. He also liked Pioneer Natural Resources (PXD) .
Wednesday brings earnings from Allergan (AGN) , which could continue to soar if the company speaks highly of more blockbuster drugs in its pipeline. Cramer was less bullish on Time Warner (TWX) , saying investors might want to take their money and run.
Earnings for Thursday include Coca-Cola (KO) , a low-risk, high-reward stock, CVS Health (CVS) , one of the worst stocks as of late, and Twitter (TWTR) , a stock Cramer said is not his cup of tea. Also on Thursday, reports from engine maker Cummins (CMI) and from Nvidia (NVDA) , both Cramer favs.
Amazon Requires Patience
Should investors give Amazon.com (AMZN) a pass this quarter?
The company did post an 18-cents-a-share earnings beat, but just about every other metric the analysts were looking for disappointed, sending shares lower by 3.5% Friday.
Cramer said the disappointments could be explained away by a strong dollar and Amazon's frantic warehouse building along with its big push into India. But then again, Amazon has never been an earnings story, it has only ever been a growth story.
The problem is that Amazon won't report again for another three months, leaving the narrative in the hands of the chartists, who will undoubtedly cite the stock's double-top formation, Cramer said.
But it has always paid to buy the dips in Amazon and this time will be no different. The only question is how long and deep the dip will be.
Cramer told viewers to be patient and wait for the dust to settle before snapping up some shares at a discount.
Executive Decision: Clorox
For his "Executive Decision" segment, Cramer spoke with Benno Dorer, chairman and CEO of Clorox (CLX) , the cleaning (and more) company that just posted 8% volume growth this quarter.
Dorer explained that Clorox has been innovating in an industry that has been starved for innovation and success can be seen in the quarterly results. Clorox has been investing heavily in new platforms and making brand investments that will provide returns for years to come.
One such growth engine has been disinfecting wipes, a category where Clorox is a market leader. The company has been investing in digital advertising and social media, which have been helping it gain in awareness and market share.
Dorer also touted Clorox' recent acquisition of Renew Life, makers of digestive health products. He said the health and wellness category has been a strong performer and customers should expect great things ahead for Renew Life.
Drawing on Success: Autodesk
There are lots of winning stocks in this rally, Cramer told viewers, but not all of the winners are getting the attention they deserve. Case in point: Autodesk (ADSK) , the king of computer-aided design, shares of which are up 70% over the past 12 months.
Investors are more likely to know about Adobe Systems (ADBE) , makers of Photoshop and a host of other design software. But for professional designers and engineers, AutoCAD, Autodesk's flagship computer-aided design app, is the big name in town.
What makes Autodesk so exciting is that the company is transitioning from the old-school licensing models to subscription models, which ultimately makes the company far more profitable. When it last reported, Autodesk had already converted 62% of its customers to a subscription.
Cramer said Autodesk is worth owning right now, but he'd especially be a buyer on any market-wide pullback.
In the Lightning Round, Cramer was bullish on Carrizo Oil & Gas (CRZO) , Illinois Tool Works (ITW) , Methode Electronics (MEI) , Randgold Resources (GOLD) , SPDR Gold Shares (GLD) and Kratos Defense & Security (KTOS) .
Catching up on Homework
In his "Homework" segment, Cramer followed up on a few stocks that had stumped him during earlier shows.
He said that Acadia Healthcare (ACHC) is the kind of stock that will be hurt in the repeal of Obamacare, which makes it too risky to own in this environment.
Finally, Cramer circled back to NXP Semiconductor (NXPI) , which is being acquired by Qualcomm (QCOM) . He said in this case, and this case only, investors can hold onto shares until the company is acquired.
Cramer and the Action Alerts PLUS team have put out their weekly roundup, focusing on Apple (AAPL) , Adobe, Facebook (FB) , General Electric (GE) , NXP Semi and more. If you want to know what they're telling their investment club members, get a free subscription to Action Alerts PLUS.
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