Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday October 3. Click on a stock ticker for more analysis:
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Cramer advised viewers to look for stocks with a combination of upside and security, and added the gold sector keeps going higher because of inflation fears and currency worries. While he used to buy NEM at his hedge fund, he says the company has failed to buy more mines. Cramer says he is taking a break from Mad Money favorite AUY, because it is currently absorbing its "long-fought" Meridian acquisition. His new gold favorite is ABX, which owns the largest reserves in the industry and is unhedged so "the price of gold will be the price they get for gold." Cramer predicts if gold reaches $1,000 an ounce, ABX will jump to $50 a share.
Related: UBS Highlights Barrick and other gold companies.
Continuing his series on overlooked IPOs, Cramer says ATHN is the best and probably more expensive of the group. He recommended AllScripts two days prior to the ATHN IPO, which was under the radar. He now prefers ATHN, which does business entirely on the Web, resolves 90% of its claims on the first request compared to an industry average of 70%, and has 97% customer renewal rate; ATHN's customers are "addicted and loyal," its subscription service, said Cramer. While the stock trades at a pricey 46 times earnings, it enjoys 42% growth. Cramer would buy the stock with limit orders.
Related: Abbi Adest discusses AthenaHealth and other recent IPOs.
Mad Mail: Perry Ellis (NASDAQ:PERY), Phillips-Van Heusen (NYSE:PVH), Walgreen (NYSE:WAG) and CVS Caremark (NYSE:CVS)
When Cramer was asked why he wasn't bullish on PERY after having its CEO George Feldenkreis on the show earlier in the week, Cramer says he likes the CEO and the company but prefers PVH. He also defended his preference for CVS, which is cheaper than WAG, and added that investors should "stay away from WAG."
Related: On September 5th, Cramer discussed his preference for PVH over PERY.
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