2.8% drop in durable goods mean that feds job is done – means you can buy FINANCIALS, HEALTH CARE, CONSUMER STAPLES – JPM, C, MO, PEP, KO, UNH, PNC – this is recipe for what works here when the Fed is winning

“Better Than Expected” means nothing – its nonsense

Disclaimer: This is my interpretation of Cramer’s comments, the show goes by quickly so I try and catch as many key words as possible for each pick. Accuracy is NOT guaranteed but is however strived for.

Accelerated Revenue Growth is what we are looking for – YHOO has it, GOOG has it, think the oils will be okay because of it

Buybacks in tech are all about issuing stock options – they are all almost phony baloney – I’ve yet to see a definitive buyback in tech that I like.

Take will be that after the fed meets in May they’ll tighten once and then they’ll be done.

Financials – like them all, small financials spring up like magic, big ones with the yields are they ever for me.

X - UNITED STATES STE - US Steel profit was NOT "better than expected"
PD - PHELPS DODGE - Profit was NOT "Better than expected"
SYY - SYSCO CP - Hear from a couple of midwestern distributors that the quarter isn't that good
CSCO - CISCO SYS INC - Rather buy SYY off a bad quarter than a "better than expected CSCO quarter
FBR - FRIEDMAN BILLINGS - I'm nervous - not forthcoming about investigations - double eyebrow raisers - INSTANT DANGER ZONE
DRL - DORAL FINANCIAL - Bad - Instant Danger Zone
RGF - R - Bad - Instant Danger Zone
CPN - CALPINE CP - Not safe enough - Instant Danger Zone
JPM - JP MORGAN CHASE C - Financial that should work very well
C - CITIGROUP INC - Financial that should work very well
BAC - BK OF AMERICA CP - Financial that should work very well


Lightning Round:

AVP - AVON PRODUCTS INC - Tough - BEAR - don't like it here because I think PG is a better company for a cheaper price
XMSR - XM SATELLITE RADI - Keep it - sell the SIRI
SIRI - SIRIUS SATELLITE - Sell the SIRI just own XMSR
FON - SPRINT CP - BEAR - hate the telco group and sprint is actually one of the better ones
RD - ROYAL DUTCH PET A - Buy it on Friday - day 5 of oil sell off
BUD - ANHEUSER BUSCH - BULL - think their quarter was not so horrible - you will be rewarded buy the end of the fed tightening if you buy it
GTRC - GUITAR CENTER INC - Ring the register - gotten too high and I really like this company
LTXX - LTX CP - personal foul - little semiconductor - have enough prblems with INTC
ZQK - QUIKSILVER CP - ixnay. BEAR
CPWR - COMPUWARE CORP - Don't like it
IBM - INTL BUSINESS MAC - Sell it above 75
JNPR - JUNIPER NETWORKS - don't like tech - if on a desert island and had to own a high tech stock it may be jnpr
XTO - XTO ENERGY INC - BUY it - but not till Friday
YHOO - YAHOO INC - BULL - own it personally - GOOG is stock of week though, and its just resting on the way higher
BBI - BLOCKBUSTER INC - A pox on BBI and on NFLX - don't like the industry
HPC - HERCULES INC - BEAR - sell
DD - DU PONT E I DE NE - Sell
PVX - PROVIDENT ENERGY - Blessed by me
INGP - INSTINET GROUP IN - not arbitrageurs - ring the register
GOOG - GOOGLE - Bull - $7 x 60 multiple - could have said 420 but worried about implication
TYC - TYCO INTL LTD - BULL - own it - love it - sick and tired of the trial.
CMTL - COMTECH TELECOM C - not a fan of that particular part of the industry right now - don't like wireless
TDS - TELEPHONE + DATA - sell that stock - ring the register
EENC - ENTERRA EN TR - BULL - like it just as much as last time
MVL - MARVEL ENTERPRISE - like it
MRVL - MARVELL TECH GROU - like it
MYG - MAYTAG CP - Pigs get slaughtered and its their own fault - JUMPING OUT THE WINDOW sound
QCOM - QUALCOMM INC - Better in 2nd half not the first
GPN - GLOBAL PAYMENTS I - Ring the register - acted like I didn't know it last night but they do the processing for casinos - sweet spot
EASI - ENGINEERED SUPPOR - won't be good another two months from now - very very late cycle stock
XOM - EXXON MOBIL CP - least levered to oil - just a giant bank - think the stock is in a bottoming phase - buy it Friday
EBAY - EBAY INC - think that ebay is not a good stock - BEAR
PLAY - PORTALPLAYER INC - BEAR - no thank you
BMET - BIOMET INC - get ZMH instead
MSFT - MICROSOFT CP - watching paint dry - BULL - can't be excited about it though
JOE - ST JOE CO (THE) - BULL - been selling a bit but still bless it
HCP - HEALTHCARE PROP - Good company, good yield, bless it but really boring

SBUX - STARBUCKS CP - CEO: Serving lunch in 2300 US Stores now - 1/3 of the way to having 30,000 stores - think China will be largets market outside of US - Not too many Starbucks in America right now, think their remains opportunities to fill in more locations. CRAMER: GOING TO A BUY ON SBUX right here right now (oh please sbux don't hurt me)
PLB - AMER ITAL PASTA - BEAR - not satisfied with how its doing since low carb craze - Panera bread (PNRA) is doing well…
OXY - OCCIDENTAL PET - CEO: 15% chemicals, the rest is production - Libya is a very good place to do business CRAMER: Bull - think the stock will bottom in a couple of a days, BULL, compmany could have accelerated revenue growth.
MATK - MARTEK BIOSCIENCE - Jumping out of the window
NEM - NEWMONT MIN CP (H - has gone up for years even when it had bad earnings - all that matters is that gold goes down when the Fed is winning the war
DHI - D R HORTON INC - Stock only really started doing well when the rates were declining - Can't own the homebuilders when the Fed is doing this
WLS - WILLIAM LYON HOME - Company taken private today - it was selling at 4 times earnings
TOL - TOLL BROTHERS INC - if we absolutely knew the fed was done in two tightenings this would be first - Don't outthink it and be in homebuilders though - don't like the sector - BEAR
LEN - LENNAR CP CL A - if we absolutely knew the fed was done in two tightenings this would be second - Don't outthink it and be in homebuilders though - don't like the sector - BEAR
HOV - HOVNANIAN ENT INC - if we absolutely knew the fed was done in two tightenings this would be third - Don't outthink it and be in homebuilders though - don't like the sector - BEAR
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