Cramer's 'Mad Money' Recap: Earnings Descend (Final)
NEW YORK ( TheStreet) -- Everyone will be buzzing over tomorrow's unemployment number, Jim Cramer told his "Mad Money" TV show viewers Thursday, but when it comes to next week's trading, earnings will be the only thing that matters. Cramer told viewers to take a deep breath, because next week kicks off another important earnings season for the markets.
Cramer said that on Monday, the markets will be digesting tomorrow's unemployment data, a report that should have come out yesterday given that the markets will be closed Friday. But beyond that, Cramer suggested that tomorrow's report will largely be a non-event, and he expects numbers to be in line with expectations.
Tuesday will be a tough day for the markets, said Cramer, as both Alcoa (AA) and grocery chain Supervalu (SVU) kick off earnings season. Cramer told viewers to stay away from Supervalu, a serial underperformer that's just off its 52-week low. Alcoa, however, is tougher, as there's still too much aluminum being produced worldwide, despite continued cuts at Alcoa, he said.
Wednesday brings Titan Machinery (TITN) , a machinery company that will offer an early look into the agriculture and construction industries. Also on Wednesday, the Federal Reserve beige book report, another non-event, said Cramer.
Then on Thursday, it's Google (GOOG) in the spotlight. Cramer said this company is inexpensive, but does have many moving parts that investors like to pick apart. He told investors that Google is not a buy because of these many skeptics, but he still likes the company.
Finally, on Friday, JP Morgan Chase (JPM) , a stock which Cramer owns for his charitable trust Action Alerts PLUS, and Wells Fargo (WFC) close out the week. Cramer said that while he likes JP Morgan, Wells Fargo has no ties to Europe and may perform better in the short term.
Executive DecisionIn the "Executive Decision" segment, Cramer once again spoke with John Richels, president and CEO of Devon Energy (DVN) , an Action Alerts PLUS holding that's expected to grow its production between 22% and 24% this year as the company continues to move away from natural gas into more lucrative oil drilling.
Richels took some time to clarify several misconceptions surrounding Devon. First was the notion that Devon is just a natural gas driller. He said that currently, 35% of Devon's production, some 250,000 barrels a day, is oil and oil liquids. He said Devon does have a huge natural gas inventory, but the company is spending $0 on new natural gas wells this year.