Cramer's 'Mad Money' Recap: Earnings Descend (Final)
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.