Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Friday June 10.
12 Things to Watch in the Coming Week. Stocks Mentioned: Best Buy (BBY), Finisar (FNSR), Ciena (CIEN), Kroger (KR), TreeHouse Foods (THS), Perrigo (PRGO), Research In Motion (RIMM), AOL (AOL), Copano (CPNO), Pandora (expected ticker: P), Pier 1 Imports (PIR), Bankrate (expected symbol: RATE), Oshkosh Corporation (OSK), ING (ING)
The Dow was down on Friday, and it doesn't look like the pain is going to be over, Cramer said, at least not until the macro picture improves. It is worth taking a look at the following earnings reports and analyst meetings, IPOs and events next week that might give a fuller picture of the state of the market.
Best Buy (BBY) is worth listening to, to see what products are moving off the shelves and what is stalled. Cramer would pay attention to what BBY says about PC and television sales.
Finisar (FNSR) was the stock that indicated last quarter that there was trouble for the optic makers. Cramer wants to know if business in China is still slow and if telco is still suffering. If the news is good, which is unlikely, Cramer doesn't think this sector is worth buying until fall.
Ciena (CIEN) has an analysts meeting which should involve management's mea culpa for its awful quarter.
The Philadelphia Fed Meeting should give some solid data on the state of the economy.
Kroger (KR) has been the subject of bullish chatter, but Cramer thinks it is all talk because there is too much competition among supermarkets. Good news from Kroger might make private label plays TreeHouse (THS) and Perrigo (PRGO) buys.
Pier 1 Imports (PIR) has been a winner in the high end group. This stock is in full turnaround mode.
Research In Motion (RIMM) reports after the close on Thursday. People keep waiting in vain for the company to turn around, but Cramer doesn't like the odds.
The Empire State report should give more news on the macro situation.
AOL (AOL) has an analysts day. Cramer thinks management might be in the midst of a turnaround, but this turnaround will take some time.
Copano (CPNO) has an analysts day. This is a good company with a 7.1% dividend.
Pandora Media (expected symbol: P) - Cramer doesn't want to buy this as an investment but would "flip" this IPO when it pops the first day.
Bankrate (expected ticker: RATE) - Cramer respects this financial data site, and while it might not be a runaway IPO, it is likely to do well over time.
Cramer took some calls:
ING (ING): "As much as I dislike American banks, I hate European banks even more...we have plenty of bad banks over here."
Oshkosh Corporation (OSK) is a stock that has gone down 30%, partly on the reduction of defense spending by the government. Cramer would stay out of the stock.
CEO Interview: Gideon Argov, Entegris (ENTG)
So many things are going wrong for tech, but Entegris (ENTG) might be a bright spot in an otherwise dismal sector. The slowdown in Asia means that the semiconductor space has been slow, but business is still strong for Entegris, which makes products that prevent contamination of chips. ENTG saw a 3 cent earnings beat in April with revenues stronger than expected and a 25% rise in upside guidance. Although the company doesn't have terrific visibility for future earnings, its analyst day was very bullish. The stock has risen 83% since March of 2010. When Cramer asked Gideon Argov about slowness for semis, the CEO discussed the company's business model of selling mainly units that need to be replenished on a regular basis. He added that the company is less cyclical than other players in the space because of this business model.
Chinese IPOs are like firecrackers; they rise high in the air and then explode. The only way to trade Chinese IPOs is as trades and not investments. It is crucial to get in on the IPO itself and sell it within a few days. While Carmer doesn't like the Chinese market and thinks the only investment worth discussing is Baidu (BIDU), he noted that in the last 12 months, three of the four best performing first day IPOs were Chinese stocks: ChinaCache International (CCIH), Yoku.com (YOKU), Qihoo (QIHU), which rose an average of 130% before falling back to Earth. Sina (SINA) was another quick trade that made investors money, and has lately fallen from $120 to $80. Chinese IPOs are too hot to handle for more than a brief second. Cramer would get in on these deals and get out.
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