Friday Night's Show Highlights:
The most packed week of earnings season... Apple, Facebook and the Oils!
Friday, April 22, 2016
Providing a VERBATIM recap of Jim Cramer's Friday Night "Game Plan for Next Week," word for word, with all stock picks & recommendations to help you prepare for the week ahead, including that night's Lightning Round picks...
Jim: Alright, let me get it off my chest right at the top. I hate next week. I'm just putting it out there. Next week's the busiest reporting week of the earnings season. And that means I'll be grumpy and miserable and sleep deprived, and you don't even want to think about talking to me.
Now it's not like this past week was any sort of slouch though, as we saw major disruptions, especially today in many tech stocks, ultimately causing the Nasdaq to plunge 0.80%, even as the Dow advanced 21 points, and the S&P closed basically flat. Tech. They pancaked it. But next week? Here's my prediction. More snap judgments, more wrong judgments... than you can imagine.
So let's get right to the Game Plan... Monday fortunately is a light day. The only light day of the week. We're going to hear from Halliburton, the oil service company that was hoping to merge with competitor, Baker Hughes. What a ridiculous misjudgment of the Justice Department's Antitrust division Halliburton committed. If I were at Halliburton, I would fire those lawyers who advised on this deal tomorrow, okay, and hire me, as I said it would be "dead on arrival" the moment it was announced. I gave them better advice for free than the millions of dollars they shelled out for some "ill-advised counsel." Fortunately for HAL and for Baker Hughes, which reports Wednesday, oil's had a nice run here based on better demand, chiefly from China, and that's made both these stocks attractive, with Halliburton being the standout, as Baker Hughes has been left at the alter. I want to be very clear though. I like best-of-breed stocks. Those who've watched the show for a long time know, best-of-breed is my specialty. If you're going to buy an oil and gas related service company... and, when it comes to service companies, there's only one company you should be thinking about, and that's SLOB... That's right, Schlumberger, which reported an incredibly-good quarter last night, and has so much wherewithal that it's been buying back stock aggressively, at the same time investing for the future. That's my kind of company...