Last week, a host of major earnings reports were overshadowed by a selloff in the broader markets on Wednesday amid turmoil in the Trump White House. The declines were sparked in part by a report from The New York Times saying President Donald Trump asked FBI Director James Comey to end the investigation into Trump's former national security adviser Michael Flynn. The Dow Jones Industrial Average fell 373 points on Wednesday.
The markets rebounded on Thursday and Friday as investors refocused on earnings, a traditional driver of stock markets.
TheStreet breaks down 10 things we learned from this week's shows with Jim Cramer.
1. IBM Is Trying!
IBM (IBM) CEO Ginni Rometty is moving as fast as she can to grow revenues and boost the stock price, according to Cramer.
As for its new policy preventing employees from working at home, Cramer said it's an important policy to foster teamwork.
IBM's stock is down 8.4% since the start of the year.
2. Salesforce's Retail Play
"Salesforce is making artificial intelligence go to work for bricks and mortars to compete with Amazon (AMZN) ," Cramer said, adding that Salesforce has eight out of the 10 largest retailers on its platform.
3. Cisco Should Make an Acquisition
Cramer thinks Cisco (CSCO) needs to make an acquisition with its $68 billion in cash in order to move its business faster to software. "This is a very similar situation to IBM (IBM) ." The stock is a holding of Action Alerts PLUS.
4. Don't Write Off Foot Locker
Cramer said Foot Locker (FL) had a disturbing quarter. Same-store sales rose 0.5% year over year, missing analysts' forecasts.
"I don't want to write off Foot Locker," Cramer said. "It's too good a company."
5. Ross Stores Had a Better Quarter Than TJX
"I think TJX is a much better buy at this point," Cramer said. His charitable trust owns shares of TJX.
6. Home Depot Is "Non-Amazonable"
7. Walmart Has a Plan to Attack Amazon
"It's now Walmart vs. Amazon," Cramer said. "Walmart has figured out what to do."
8. Nvidia's Powerful Chips
Cramer said Nvidia's (NVDA) chips have more power than anybody else's.
"Nvidia is one of the most expensive stocks I follow but it is the ultimate momentum stock in this market, even exceeding FANG," Cramer said. FANG is an acronym for Facebook (FB) , Amazon, Netflix (NFLX) and Alphabet's (GOOGL) Google.
9. Apple Benefits From Potential Laptop Ban
If laptops are banned on trans-Atlantic flights, Apple (AAPL) is set to benefit as consumers may flock toward a larger phone like the iPhone 7 Plus, according to Cramer.
10. Alibaba's Impressive Revenue Growth
Cramer was pleased with Alibaba's (BABA) revenue growth for its most-recent quarter. "Alibaba is a revenue story, but we didn't know that," Cramer said. "We always thought it was an earnings-and-revenue story."