Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday October 24. Click on a stock ticker for more analysis:
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Merrill Lynch (MER), Goldman Sachs (NYSE:GS), Coca Cola (NYSE:KO), Altria (NYSE:MO), Celgene (NASDAQ:CELG), Amgen (NASDAQ:AMGN), Genzyme (GENZ), Inverness Medical (IMA), CME Group (NASDAQ:CME), Google (NASDAQ:GOOG) and Intuitive Surgical (NASDAQ:ISRG)
MER's $7.9 billion writedown reminds Cramer of the bad old days in 1990 when almost every bank took a hit. In the current environment, Goldman Sachs is the only financial left standing. Companies which insure mortgages are taking hideous losses, said Cramer who is nervous about PMI Group and MGIC Investment. In spite of the dismal economy in 1990, Cramer did manage to make money investing in tech and biotech names with "incredibly rapid growth" as well as defensive stocks. KO worked for him then and is at its 52-week high when the market is down 150, and MO is also a buy. For growth, Cramer likes CELG, AMGN, GENZ and IMA and favors CELG with 50% growth. CME, "reported stellar earnings. It's where everyone is going to hedge their financial bets." Cramer named GOOG and ISRG as the fastest growing picks.
Hippie, Hippie Hain (NASDAQ:HAIN)
Continuing his series inspired by Mark Penn's book Microtrends , Cramer discussed chapter 8's subject: Vegan children. As hippie values become mainstream and "parents are raising more and more children to eat this stuff and nothing else," Hain celestial should enjoy a bounce, especially since people devoted to a vegetarian lifestyle tend not to be influenced by economic factors, and won't be intimidated by higher prices.
Related: FP Trading Desk discussed HAIN as a play on the organic trend.
CEO Interview: Mackey McDonald VFC Corp (NYSE:VFC)
Cramer said he was eyeing VFC for a while, and after a post-earnings report rally, it has now dropped. Although many people are worried about the transition in VFC's management, Cramer says it is the only retail stock he currently recommends. "If ever a stock didn't deserve to trade down upon the CEO leaving, it is VF Corp," he added. Mackey McDonald commented, "We had a great third quarter, we projected a great fourth quarter and we raised guidance for next year," He discussed the company's growing international exposure. Cramer suggests buying VFC under $80.
Related: Ted Allrich makes the bull case for VFC.
Cramer called CSCO, INTC and HPQ "city driver stocks" and expects HPQ to "creep up" gradually. He told another viewer that investors needs some cash in their portfolios, especially in the current environment. Finally, while Cramer expects ATHN to report a strong quarter, he would buy only half a position before its report, because it has been volatile in the past.
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