On Wednesday night's show, Cramer zeroed in on tech. He pointed to the tech industry's exposure to Europe (as a percentage of sales) as a definitive point of interest. Cramer also said this is the season to see tech perform well.
In the stocks, you'll see that generally, hedge funds agree with Cramer. The exceptions are few, but major. Hedge funds, according to their 13F portfolios, disagree with Cramer on First Solar, Precision Castparts and IMAX. You can read more below.
Here are the stocks Jim Cramer discussed on September 14th:
Apple (AAPL) - The upward trend isn't going anywhere, Cramer says. Still ok to buy. Shares are trading close to $400/share. The company has a market cap of $360 Billion. Jim Simons' Renaissance Technologies increased their position in AAPL last quarter by 136%.
SAP AG (SAP) - In a recent appearance on the show, SAP's CEO said business has been well but problems in Europe has been keeping it from trading at true value. Market cap is about $62 Billion, trading at around $50/share.
Juniper (JNPR) - This stock is in Cramer's charitable trust (see all of Cramer's stock positions in his charitable trust). Cramer says JNPR is so undervalued that nothing can hurt it. Plus, he says, CISCO's recent business is bound to give them a boost. The company has a market cap of about $11.5 Billion, and shares are approaching $22/share. John Burbank's Passport Capital initiated a position in JNPR last quarter with 1.2 million shares.
Salesforce.com (CRM) - Cramer says people missed out on a great buying opportunity in August when CRM reported great numbers, simply because many people were following the fallacy of not buying tech in August. Cramer says Salesforce.com has a solid business model in Europe. The company is a $17.5 Billion market cap company, with shares trading just past $130. Louis Navellier's Navellier & Associates decreased their position in this company last quarter, leaving them with 460K shares.
Google (GOOG) - Cramer says its next biggest competitor, Yahoo, is in "disarray". Google, Cramer says, has its feet in many areas, and this surely adds to its strength. The shares of this $170B market cap internet behemoth are trading around $530/share. Ken Griffin's Citadel decreased their position by 10% last quarter, leaving them with 840K shares.
Cummins (CMI) vs. Navistar (NAV) - Cramer compared these two trucking companies. He said Navistar's recent misses does not imply a general shortcoming in the trucking business as a whole. He said NAV's is fighting for market share, missed its earnings and cut its forecast. Cummins, however, is the best trucking company out there, and their numbers right now indicate it's a great time to buy. Cramer pointed to CMI's trading at 9x earnings (below the usual level). CMI is trading at around $94/share, while NAV is about $39/share. Ken Heebner initiated a CMI position last quarter with 1.8 million shares, which gave him the largest position in CMI among the more than 300 funds we track.
Fossil (FOSL) & Lululemon (LULU) & Ralph Lauren (RL) - Cramer says when there is a dip in a great growth company, that's the time to buy, not run. He says the market makes mistakes too. All these companies got slammed by deserting shareholders because of recent numbers, but all have since rebounded handsomely. In these cases, Cramer says, the selloffs are a great opportunity. FOSL is approaching $100/share, RL is just past $143/share, and LULU is about $58/share. George Soros' Soros Fund Management doubled their investment in RL last quarter, giving them a total of almost a million shares. But far and away Stephen Mandel's Lone Pine Capital has the most with more than 4 million shares.
McDonald's (MCD) - Continuing the theme of buying a growth stock during a dip, Cramer says McDonald's is a great example. He said MCD got slammed by bad numbers recently, but that it's an awesome growth company. This $90 Billion market cap company has shares trading around $87 now. Jim Simons' Renaissance Technologies has the most shares, at nearly 2.5 million.
First Solar (FSLR) - Cramer was bearish about this. He said stay away. $8 Billion market cap, shares are just past $91. Lee Ainslie must see something in FSLR. He initiated a position in this company with nearly 2.5 million shares, a position that's more than twice the size of the next guy.
Precision Castparts (PCP) - It's the aerospace stock to target, Cramer said. Shares are almost near their 52-week high at $167. The company has a market cap of $24 Billion. A lot of hedge funds decreased their position in this stock last quarter (see here for a complete list).
IMAX Corp (IMAX) - Cramer was bearish. The company has a market cap of about $1.1 Billion. Shares are approaching $18. Richard Driehaus' Driehaus Capital disagrees, according to filings from Q2. The firm increased their position by 62% to more than 800K shares.
Johnson Controls (JCI) - He said it is dirt cheap right now. Shares are almost their 52-week low at just past $29. The company has a market cap close to $20 Billion. Andreas Halvorsen's Viking Global had the most shares at the end of last quarter, at more than 7.2 million, a position that's after a 39% decrease from the quarter before.
Altria (MO) & Philip Morris International (PM) - Either one, Cramer said, is good. PM is the play for people who want more growth. MO is the play for people who want more dividends. Either is good. MO has seen steady growth over the past 5 years, shares are approaching $27. PM giant has a market cap of nearly $120 Billion. Shares are approaching $68. Cliff Asness's AQR Capital Management increased their position in MO last quarter, giving them a total of just over 1.6 million shares.
Advanced Micro Devices (AMD) – Cramer said AMD is a great stock to buy. Market cap of $5 Billion, shares are just past $7. Curtis Macnguyen's Ivory Capital decreased their position by 32% last quarter, still leaving them with more shares than any other fund we track, at 17.2 million.
Oil Services Index (OIH) - "Buy, Buy, Buy," this ETF, Cramer said. Shares are approaching $130. Andrew Hall's Astenbeck Capital Management increased their position by 230% in Q2, leaving them with about a half a million shares.
Ensco International (ESV) - Cramer predicts a surge in offshore drilling, and in such a case, Ensco is the way to go. $11 Billion market cap, shares are about $49. David Einhorn decreased his position by 4% in Q2, still leaving him with one of the highest positions with 4.2 million shares.
Halliburton Company (HAL) & Lufkin Industries (LUFK) - Cramer said these two are the ones to play based on the productivity of the Eagle Ford Shale and the Bakken Shale, which are mainly serviced by HAL and LUFK. HAL has a market cap of about $36 Billion, while Lufkin seems pint sized at $2 Billion. Ken Fisher's Fisher Asset Management may see something here- they initiated a position last quarter of more than 5.5 million shares, giving them the largest position in HAL among all the hedge funds we track (see the whole list of funds that invest in HAL here).
Disclosure: I am long PM.