Hope still springs eternal on Wall Street, Jim Cramer told his Mad Money viewers Monday, even if that optimism isn't shared elsewhere in the world.
Cramer said last night's tragedy in Las Vegas was just one of a number of events that could have sent the markets sharply lower today, but instead, the Dow Jones Industrial Average rallied. President Trump's tweet saying that Secretary of State Rex Tillerson is wasting his time trying to defuse tension with North Korea could have sent the market into a tailspin, but didn't. A fight for independence in Spain didn't either.
Instead, the stock market sent shares of General Motors (GM) higher, despite the threat of Uber and electric cars upending the auto market. GM ended the day up 4.3%. Walt Disney (DIS) shares also ended higher, despite a continued fight with cable provider Altice (ATCT) .
Even Procter & Gamble's (PG) fight with activist Nelson Peltz is being framed as a win-win no matter what the outcome.
So at least on Wall Street, hope springs eternal, Cramer concluded, even during a time of year when investors are typically most skeptical.
Over on Real Money, Cramer says that even when hope takes a hit in our day-to-day life, a positive performance in the markets simply reflects the belief that things are getting better in the corporate world. Get his insights with a free trial subscription to Real Money.
Buy the Post-Earnings Slump
When a company has a great track record, but sells off every time it reports earnings, that's a recipe for success, Cramer told viewers. There are only two companies that fit this pattern, however, and one of them just reported.
That company was Accenture (ACN) , Cramer said, and it's up 13% since he last recommended it on a similar post-earnings slump back in March.
Accenture is continuing its long-term plan of making small technology acquisitions to bolster its offerings and offset its declining consulting businesses. The company made no less than 47 deals last year, totaling $1.7 billion.
Despite the company's excellent track record, its shares still sell at just 19 times earnings and offer great growth. Cramer said if investors can handle the declines for another week or two, Accenture should be poised to resume its march higher once again.
Cramer's Top 10 for Q3 Profits
The third quarter was a great one for companies, even without help from the President or the Federal Reserve, Cramer told viewers, as he listed the top 10 best earnings he's seen.
Topping the list was NRG Energy (NRG) , the comeback story that's now an attractive takeover target. Next was Michael Kors (KORS) , a retailer Cramer said he didn't trust, and Gaps Stores (GPS) , a retailer he does.
Rounding out the top 10 was CF Industries (CF) , United Rentals (URI) and Applied Materials (AMAT) , along with Rockwell Collins (COL) , which was acquired by United Technologies (UTX) . Cramer said he's a fan of all these companies.
Executive Decision: Hain Celestial
For his "Executive Decision" segment, Cramer spoke with Irwin Simon, CEO of Hain Celestial Group Inc. (HAIN) , the organic food maker with shares that are flat for the year.
Simon started off by saying that thanks to the 9.9% stake taken by activist Engaged Capital, Hain now has six new independent board members that bring new experience, especially internationally, to his company.
When asked whether those new board members were pushing for a sale of the company, Simon responded by saying that there are many hidden jewels at Hain and they're focused of building value and not selling the company. Hain's mission continues to be changing the way the world eats.
Turning to the topic of Amazon's (AMZN) purchase of Whole Foods, Simon said that Amazon gives Whole Foods a number of missing pieces, including fulfillment, ecommerce and the ability to manage the data on their customers. He expects the deal to do great things for Whole Foods.
Cramer said he's still a believer in Hain Celestial.
Cramer was bearish on Uniti Group (UNIT) .
In his "No-Huddle Offense" segment, Cramer said the markets are entering October with a big head of steam. He listed off 12 sectors that are continuing to show strength.
Other sectors included the discount retailers -- think Dollar Tree (DLTR) , and the auto-related stocks. Oil and healthcare also continue to rally. Cramer liked the medical device makers, like Baxter (BAX) .
Cramer and the AAP team are adding some names to the bullpen: Waste Management (WM) , FedEx (FDX) , Applied Materials and more. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.
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