Today was a sign of a healthy market, Jim Cramer told his Mad Money viewers Thursday, as the much heralded IPO of Snap (SNAP) went off without a hitch. Cramer said there were a lot of things that could have gone wrong today, but didn't, and that will only help bring more buyers to the stock market.
What could have gone wrong? Cramer said investors only need to remember the IPOs of Facebook (FB) , Twitter (TWTR) , Groupon (GRPN) and Zynga (ZNGA) . All of these IPOs made the markets look fragile and, yes, rigged. But today, the market avoided four major pitfalls.
First, Cramer said there was a lot of money around to buy up shares of Snap and we didn't see a lot of selling in other names to absorb the huge number of shares offered.
Second, despite Snap's ridiculously high offering price, that price was arrived at in an orderly fashion.
Third, Cramer said the markets didn't see a big selloff after yesterday's big rally.
All of these point to a healthy market, Cramer said. As for Snap, Cramer said he cannot recommend any stock at 35 times sales, so for those who bought in at $17 a share, he'd ring the register. As for the rest of the stock market, everything is increasingly looking OK.
Executive Decision: Box
For his "Executive Decision" segment, Cramer spoke with Aaron Levie, co-founder, chairman and CEO of Box (BOX) , the cloud software provider with shares that are up 20% for 2017, but fell 8% today after a strong quarter with tepid guidance.
Levie touted Box's "massive" milestone this quarter of becoming free cashflow positive, just as they had predicted more than two years ago. He said Box ended the quarter with $10 million in free cashflow and will now be able to drive their growth even further.
Levie noted that Box is expanding in the enterprise space, with 64 large deals this quarter. He said many large enterprises are retiring legacy systems while solving collaboration problems by switching to Box's ecosystem.
Levie also had some advice for the newly-public Snap, saying that predictable, consistent growth and over-communication is what Wall Street will appreciate most.
Pizza's Getting Complicated
Papa John's reported an ugly quarter with a small bottom line beat but with the slowest growth the company has seen in 10 quarters. Making matters worse, company management forecast continued deceleration and blamed, in part, declining NFL ratings and warm weather for its shortfall.
Meanwhile Domino's posted a solid, four-cents-a-share earnings beat with its third quarter of double-digit revenue growth and a 12.2% increase in same-store sales.
As a tiebreaker, Cramer turned to Yum Brands (YUM) , where Pizza Hut also saw some softness, but was able to eek out an increase in gross margins.
Pizza delivery is the ultimate stay-at-home economy play, Cramer said, but clearly the rising tide is not lifting all boats, and only Domino's is able to buck the trend with its superior technology initiatives.
Executive Decision: Platform Specialty Products
In his second "Executive Decision" segment, Cramer spoke with Rakesh Sachdev, CEO of Platform Specialty Products (PAH) , the agriculture and industrial roll-up company which has seen its shares double over the past 12 months. Yesterday, Platform Specialty delivered a two-cents-a-share earnings beat.
Sachdev said that after buying seven companies in 2015, the company has successfully integrated them and is now delivering the results. They continue to focus on their customers and on growth while paying down debt.
When asked about his businesses, Sachdev explained that Platform is mainly in specialty crops and not those like corn and soy where prices are pressured. He said their business in specialty chemicals for autos and industrial applications are also strong, especially in Asia.
Turning to the energy market, Sachdev admitted that revenues are down but margins remain healthy with oil at $50, and he's hopeful that President Trump will reignite the sector.
In his "No-Huddle Offense" segment, Cramer said unsung, consistent companies are hard to find. But fortunately, he was able to uncover three of them this quarter.
First up was Priceline (PCLN) , which has diversified well beyond just hotel rooms and has run circles around the competition that was supposed to have killed it years ago.
Next is Burlington Stores (BURL) , which had been wildly inconsistent in its previous incarnation, but now is a solid, off-price retailer that customers love.
Finally, Cramer heralded Broadcom (AVGO) , which continues to diversify itself while remaining committed to shareholders. Cramer said this company's best days are yet to come.
Cramer and the AAP team are detailing their outlook for portfolio energy names Apache (APA) and Cimarex (XEC) . Find out what they're telling their investment club members with a free trial subscription to Action Alerts PLUS.
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