TheStreet's Jim Cramer discusses the hottest stocks of the day on our daily Facebook Live show, airing weekdays at 10 a.m. EST.
This week, it was all about the Federal Reserve's rate hike. Cramer had expected the Fed to raise interest rates on Wednesday for weeks and said bank stocks like Wells Fargo (WFC) , a holding of his charitable trust, will benefit from a faster pace of rate increases. The Fed maintained its 2017 rate hike forecasts that were issued in December and expects two more hikes before the end of the year amid a recovery in the labor market and higher inflation.
Aside from central banks, luxury outerwear retailer Canada Goose (GOOS) debuted as a public company on the New York Stock Exchange on Thursday. Cramer is bullish on the stock, especially as the overall apparel sector faces significant headwinds.
TheStreet compiled 10 highlights from this week's shows.
1. Janet Yellen Doesn't Get Enough Credit
Cramer was pleased with Fed Chair Janet Yellen's press conference on Wednesday, following the central bank's third rate hike since the 2008 recession.
"Janet Yellen doesn't get enough credit perhaps because she's not a show person," Cramer said. "She managed to give you the idea that we have to do this rate hike because we could be accelerating in growth, but we're not there yet."2. Rate Hikes Will Benefit Wells Fargo
Cramer said Wells Fargo is a big beneficiary of higher rates and his charitable trust is holding onto shares of the bank. "Wells is a good stock just because all banks are good stocks right now," Cramer added.
Wells Fargo shares are up 6.6% since the start of the year.3. Canada Goose Is a Buy
Cramer said Canada Goose has fast growth, and it could have good gross margins. Cramer also said Canada Goose is early in its cycle and has room for growth in the U.S. and around the world.
Cramer is also fond of MuleSoft (MULE) , a company that debuted on the New York Stock Exchange on Friday.
4. Tiffany's Strength in China Is Good for Apple
Cramer said Tiffany's (TIF) latest quarterly results, released Friday, were much better than he expected.
"They basically said China was strong which is also good for Apple (AAPL) ."
Apple is a holding of Cramer's charitable trust, Action Alerts PLUS.
5. Adobe's Quarter Was a True Blowout
Cramer was impressed with Adobe's latest quarterly results--the stock is a holding of his charitable trust.
"Everybody who does anything with film and edits is using Adobe and anybody who has any website needs Adobe--Adobe is the ultimate cloud company," Cramer said, adding that "[CEO Shantanu] Narayen is a brilliant man, and he cares tremendously about his customers, and it's working."
6. Food Is Good!
7. Starbucks Is Cheap if Growth Accelerates
Starbucks (SBUX) is a holding of Cramer's charitable trust. While Cramer said his trust has been holding onto shares of Starbucks, he's worried about the quarter.
He pointed to an analyst note from Wells Fargo, which raised the possibility of a re-acceleration in comparable store sales. If that happens in the second half of the year, Cramer said shares of Starbucks are cheap.
8. Bill Ackman Will Be Back
This week, billionaire hedge fund manager Bill Ackman sold his stake in pharmaceuticals giant Valeant Pharmaceuticals (VRX) for a multibillion-dollar loss.
"Bill Ackman is going to come back," Cramer said. "Remember, he was up 20% for years and years and years."
9. Snap's Price Target: $17
Cramer's price target for Snap (SNAP) is $17 a share and said the stock is a buy at that level.
"Facebook (FB) is eviscerating every aspect of Snap," Cramer said. "Against that Snap is a fun, silly site, and I like it, my kids like it. It's got some gravitas to it."
Snap debuted as a public company on the NYSE on March 2 and opened at $24 a share. The stock currently trades at $19 a share.
Facebook is a holding of Cramer's charitable trust, Action Alerts PLUS.
10. Intel's Purchase of Mobileye Makes Sense
Cramer said the deal makes a huge amount of sense because the number of chips in a car is far bigger than the number of chips in a PC. "Intel can own that market or share it with Nvidia (NVDA) and Alphabet's (GOOGL) Google," Cramer said. "Google makes its own chips for Waymo."
Alphabet is a holding of Cramer's charitable trust, Action Alerts PLUS.