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Last week on "Mad Money," Jim Cramer was relatively more bearish than usual. Cramer made 56 calls on stocks, but was negative on 17 (30%) of them. The companies that Cramer was negative on are as follows:

NAME

CALL

DATE

AVG VOL

Bank of America Corporation

Sell

4/16/2012

283,598,016

Micron Technology Inc.

Sell

4/19/2012

33,220,500

Arch Coal Inc.

Sell

4/16/2012

10,184,100

Juniper Networks, Inc.

Sell

4/20/2012

9,860,160

Dendreon Corp.

Sell

4/17/2012

8,865,340

Vodafone Group plc

Sell

4/16/2012

7,695,010

MetroPCS Communications, Inc.

Sell

4/20/2012

5,211,370

Frontline Ltd.

Sell

4/18/2012

2,802,090

Wynn Resorts Ltd.

Sell

4/16/2012

2,549,120

KIT digital, Inc.

Sell

4/16/2012

1,270,000

MIPS Technologies Inc.

Sell

4/18/2012

1,113,550

3D Systems Corp.

Sell

4/20/2012

827,849

Breitburn Energy Partners L.P.

Sell

4/19/2012

633,211

iRobot Corporation

Sell

4/20/2012

595,298

Cost Plus Inc.

Sell

4/20/2012

324,930

Vitamin Shoppe, Inc.

Sell

4/19/2012

293,356

Cedar Fair, L.P.

Sell

4/20/2012

207,571

The six companies that traded on relatively higher average volume warrant further analysis.

Bank of America (BAC)

Bank of America was one of Cramer's "sell" calls for banks at the start of 2012. Bank of America is making some customers so angry that a site called YourBofA was created to criticize the bank. Bank of America reported earnings of $653 million ($0.03 per share). Closer scrutiny would reveal "negative valuation adjustments" of $4.8 billion, a $1.6 billion reserve release, a drop in sales and trading revenue by $546 million, and $34 billion in parent company maturities due in the second quarter of 2012.

Analysts have an average target price of $9.82 for the company. Bank of America peaked at $10 in March, and recently traded at $8.36.

Micron Technology (MU)

On this name, Cramer said, "No, no, no. I'm not going to go there."

Micron shares closed at $6.64, and are down 24.03% for the month. Memory chip makers dropped because of weak forecasts from related companies. Last week, SanDisk (SNDK) said that second-quarter revenue would be between $950 million and $1.05 billion. A FactSet Research survey pegged SanDisk earning revenue of $1.29 billion. OCZ Technology (OCZ) shares are also faring poorly, despite a successful share issue at the start of this year and strength in the corporate server space. Micron shares are not holding up well, but are doing better relative to the competitors.

In an 8-K filing on April 12, Micron said it was raising an initial $870 million as follows:

  • $480.0 million 2.375% convertible senior notes due 2032
  • $390.0 million aggregate principal amount of 3.125% convertible senior notes due 2032

If the option to purchase additional notes for initial purchasers is included, the total amount raised will be $979 million.

Investors should expect Micron shares to remain volatile, as companies in the sector report earnings in April and May. In particular, Apple (AAPL) will be reporting on April 24, Western Digital (WDC) on April 26, NVidia (NVDA) on May 11, Dell (DELL) on May 22, and Hewlett-Packard (HPQ) on May 23. Micron has not set a reporting date yet.

Arch Coal (ACI)

Cramer thought that coal prices will drop further, when Arch Coal was mentioned.. Arch Coal set another 52-week low after closing at $9.40.

Last week, Peabody Energy (BTU) reported Q1 earnings of $0.67, and a 17% year-over-year revenue increase of $2.04 billion. Peabody Energy is positioning itself to benefit from the growth of energy, steel, and coal consumption in China. During its earnings call, Peabody said that "coalfield generation growth continues to be led by China and India with increases of 7% and 9%, respectively, so far this year."

Furthermore, the company said that:

Should China continue to grow at 8.5% per year, China's annual coal use is likely to reach 5 billion tons by 2015. And even as coal demand grows, supply -- global supply constraints are evident from a host of issues: rising costs, transportation challenges, limited rail and port capacity and weather. We estimate that mine closures, weather and labor challenges alone already have reduced some 15 million tons of the industry's annualized global metallurgical coal supplies in 2012.

An unexpected acceleration in economic activity in China in 2012 will support a bullish call, not a bearish one by Cramer, for Arch Coal shares in 2012.

MetroPCS Communications (PCS)

Regarding this name, Cramer said: "No, I don't want to touch it."

Analysts have an average target price of $12.17 on MetroPCS. Shares closed recently at $8.14, suggesting that the stock has a nearly 50% upside. Insiders have been steadily selling shares in the company throughout 2011. Between January 2011 and February 28, insiders sold a total of $546.7 million.

Juniper Networks (JNPR)

Cramer thought that Juniper will be downbeat when the company reports earnings. Results from competitors are mixed. F5 Networks (FFIV) beat earnings estimates, while Riverbed (RVBD) upset investors after missing revenue expectations and giving a weak Q2 outlook.

Juniper is scheduled to report earnings on Tuesday, April 24. Analysts already forecast profit to decline over 70% to $0.07 per share.

Dendreon (DNDN)

Cramer thought that Dendreon was too speculative a play. This is not the first time Cramer was cautious on the company. The company was mentioned in February as a company to avoid.

Shares closed recently at $10.35, up 16.95% for the week. Mergers and acquisitions activity by GlaxoSmithKline (GSK) for Human Genome Sciences (HGSI) helped push Dendreon shares higher.

Dendreon will be reporting Q1 earnings on May 7, 2012.

Source: A Look At 6 Of Jim Cramer's Most Recent Bearish Calls