TheStreet's Jim Cramer discusses the hottest stocks of the day on our daily Facebook Live show, airing weekdays at 10 a.m. EST.
Aside from earnings reports from Micron Technology (MU) and retailer Finish Line (FINL) , health care was in focus this week as the House of Representatives weighs the GOP's American Health Care Act, its alternative to the Affordable Care Act. Stocks saw a pullback midweek as investors feared the possibility of health care delaying tax reform, one part of President Trump's agenda that is being closely watched by investors. Expectations of tax reform are one of the main drivers of the stock market's climb since the November election.
TheStreet compiled 10 highlights from this week's shows.
1. Don't Let Health Care Scare You
"Don't give up on individual stocks and focus only on what would be an S&P related event," Cramer said, referring to the possibility of broader market declines if the GOP health care vote fails to pass the House. Those who do ignore individual stocks because of policy uncertainty would have missed out on Micron Technology, which reported blowout quarterly results on Thursday.
2. A Buying Opportunity May Be Coming
Cramer expects stocks to drop should Friday's House health care vote fail to pass. He suggests using the pullback as a buying opportunity for the stocks his charitable trust Action Alerts PLUS has been recommending.
3. Foot Locker Is Hurting Finish Line
4. Get Out of GameStop
Get out of GameStop (GME) , Cramer warned. "It's a mall store that sells hardware." GameStop reported a slump in fourth-quarter sales and announced a slew of store closures on Thursday.
5. Under Armour May Be Bottoming Out
Cramer said it's "entirely possible" that Under Armour (UA) is bottoming out, as stated in a Jefferies analyst note on Friday. The stock is down 32% since the start of the year, compared to the S&P 500's 5.2% increase.
6. People Are Excited About the iPhone 8
Amid Apple's (AAPL) downgrade by Needham on Friday to buy from strong buy, Cramer said there's a big ramp up of demand ahead of the iPhone 8's release. Apple is a holding of Cramer's charitable trust.
7. Starbucks Is Creating Jobs
On CNBC's "Mad Money" this week, Cramer interviewed Starbucks (SBUX) CEO Howard Schultz and President Kevin Johnson, who will soon take over as CEO. At its annual shareholder meeting on Wednesday, the company announced plans to create some 240,000 jobs over the next four years.
8. Ford's Lower Guidance
On Thursday, Ford (F) lowered its guidance for the first quarter, sending shares lower. "Ford has missed its quarter so many times that to use Ford as a bellwether for anything is a mistake," Cramer said. "If General Motors (GM) comes down further, then I want to be in GM--but no hurry."
9. Can CSX Buy Norfolk Southern
Cramer is concerned about the rail companies, whose shares have moved higher recently amid expectations of consolidation. Cramer doesn't think it's possible for CSX (CSX) to make a bid for Norfolk Southern (NSC) . If it does happen, Cramer thinks the deal would be blocked.
10. Be Careful With Sears
Sears Holdings (SHLD) , the parent of the Sears retailer, revealed in an SEC filing earlier this week that the company had "substantial doubt" that it could remain in business.
Cramer urges investors to be careful with the company because it "always pull rabbits out of the hat."