Has Trump been trumped by Snap (SNAP) ? Jim Cramer told his Mad Money viewers Friday that while the market's fascination with the IPO is refreshing, the focus will quickly turn to next Friday's jobs report.
Cramer's game plan for next week begins on Monday with Thor Industries (THO) , the RV maker he called the cheapest experiential company he follows.
Next, on Tuesday, Cramer will be watching Dicks Sporting Goods (DKS) , Urban Outfitters (URBN) and tax-preparer H&R Block (HRB) . He said the beaten-down retail stocks may be tempting, but he'd sit these two out. Cramer was also skeptical of H&R Block and wants to hear if competition from Intuit (INTU) is still a problem.
Wednesday brings earnings from Tech Data (TECD) , the supermarket of tech with big exposure to the rebound in Europe.
Cramer called Thursday "beauty and the beast," as Ulta Beauty (ULTA) could break out to the upside, while Signet Jewelers (SIG) needs to defend itself against scathing sexual harassment allegations levied earlier this week.
Finally, on Friday, we will get the latest non-farm payroll numbers -- and unlike a year ago, the markets are looking for a blowout number that will force the Federal Reserve to signal that everything is OK by raising interest rates.
Worth the Price of Admission
The stay-at-home economy is disrupting restaurants and retailers by the dozens, Cramer noted, but going to a concert or live event is still second to none. Live Nation owns 167 venues, along with Ticketmaster, and is simply the only game in town.
Attendance at the company's growing music festivals was up 15% last year, and Live Nation's operating income doubled. In a world where artists make their money from concerts, Cramer said Live Nation is one stock that Amazon.com (AMZN) cannot touch.
Cramer said he also likes the fact that Liberty Media (LMCA) owns a 34% stake in Live Nation and continues to push for growth and operational excellence.
Online Travel Companies
Among the three, Cramer said there is one odd man out. That's TripAdvisor, which sells advertising and doesn't book rooms or flights directly. Cramer said he's souring on this business model, as is the market, with shares down 36% over the past year.
Shares of Expedia are up 11% over the past year, despite its 20-cents-a-share earnings miss last quarter as the company ramps up spending to grow and move more of its operation to the cloud. Beyond the bottom line miss, Expedia's HomeAway grew sales by 30% last quarter, with Trivago up 65%.
The best of breed however remains Priceline, Cramer said, as every line of the company's quarterly report was fabulous, with a 17.5% rise in revenues and its usual conservative guidance for the rest of 2017.
Trading at 23 times earnings, Cramer said Priceline trades at only a slight premium to Expedia at 22 times earnings. Investors could do a lot worse buying either stock, Cramer concluded.
Off The Tape
In his "Off The Tape" segment, Cramer sat down with John Foley, co-founder and CEO of the privately-held Peloton, the connected cycle company that aims to become the Netflix (NFLX) for fitness.
Foley said that when he and his wife were younger, they went to the gym and fell in love with instructor-led fitness programs. But now that they're older with children, getting to the gym is more difficult, which led to the creation of Peloton.
Peleton is not about the company's high-tech stationary bike, Foley explained, it's about 4,000 on-demand classes and the 12 hours of live content the company produces every day. People want the content and the community, he said, which offers unlimited classes for $39 per month.
When asked about competition, Foley described Peleton as a "hard-core" technology company making high quality tablets, software and cloud services that are ready to take on any newcomers.
In his "No-Huddle Offense" segment, Cramer said that while no one wants to hear it, you simply cannot get caught up in valuations when it comes to unseasoned IPOs. Yes, Snap (SNAP) opened with a valuation of $24 billion and closed today at $38 billion. And yes, that puts shares at 30 times sales, far more than Facebook's (FB) IPO at 19 times sales, despite the fact that Facebook was profitable and Snap isn't.
But right now, only 200 million shares of Snap are public, while another 1.2 billion shares aren't. Only when the lockups expire and earnings are released will we finally be able to value Snap on its merits.
Until then however, people will react to the company's momentum and the news that Comcast (CMCSA) made a $500 million investment at the IPO price of $17 a share.
Meanwhile, on Real Money, Cramer says the IPO process, at times, tilts heavily toward overvaluation. This is one of those times. Check out his strategies with a free trial subscription to Real Money.
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