Jim Cramer was enthusiastic on Friday night’s Mad Money after the Dow gained 267 points but he is still cautious, noting that the US markets are still held hostage by the debt situation in Europe, “even if most of our companies aren’t.” Cramer thinks that once the EU unveils a plan, or at least a number, its going to be enough to set things on more solid ground within the markets.
Here are Jim Cramer’s stock picks and their performance since October 22nd (SPY lost 1.2% since then):
Ross Stores (ROST) (Down 1.4%): Cramer says that ROST made new highs last week, and he thinks they were well deserved. It same-store sales were up while inventory per store was down 7%. Even though the company raised its third quarter guidance, Cramer thinks it still has plenty of room to expand in the US, particularly in the current economic atmosphere, but Cramer isn’t buying yet. He advised viewers to wait until it comes down off its current 52-week high. Ken Griffin is bullish on ROST. His Citadel Investment Group has more than $200 million in the company (check out Ken Griffin’s top picks).
Chipotle Mexican Grill (CMG) (Down 3.8%): Cramer is still bullish on CMD after the company delivered a “fantastic quarter.” Even though the company is trading at 38 times next year’s numbers, Cramer is saying buy. CMG closed trading Friday up 8.31% on the day to close at $25.58 a share. Jim Simons has more than $187 million of his Renaissance Technologies fund invested in CMG (see Jim Simons’ favorite stocks).
Aeropostale (ARO) (Down 0.9%): ARO closed trading Friday at $13.70 a share, down 0.87% on the day. Cramer is okay with this retail company’s stock but, for his money, he prefers The Jones Group. David Einhorn’s Greenlight Capital is bullish on ARO to the tune of $60 million. The stock forms 1.28% of the Greenlight Capital portfolio and is a newer position, opened in the second quarter this year (see more of David Einhorn’s most bullish bets).
The Jones Group (JNY) (Down 2.7%): Cramer is a fan of this stock. It closed trading Friday at $11.79 a share, up 4.99% on the day. Ron Gutfleish of Elm Ridge Capital also likes this stock. He has over $27 million invested in JNY (see Ron Gutfleish’s favorite picks)
LinkedIn (LNKD) (Down 8.6%): Cramer says this stock has already had its run. The stock finished trading Friday at $87.55, up 1.72% on the day. Cramer says he would sell if the stock hit $90 a share.
Tesla Motors (TSLA) (Up 0.6%): TSLA finished trading Friday up 2.52% on the day, to close at $28.03 a share, but Cramer is still bearish on this stock. Robert Pitts has more than 1% of his Steadfast Capital Management fund invested in TSLA (check out Robert Pitts’ top positions).
Cimarex Energy (XEC) (Up 5.3%): Cramer is okay on this stock but in this sector he prefers EOG Resources. XEC closed Friday at $64.06, down 2.84% on the day. Chuck Royce’s Royce & Associates is also a fan (see Chuck Royce’s favorite positions).
EOG Resources (EOG) (Up 5.5%): Cramer is bullish on EOG. It closed trading at $90.62 a share, up 3.76% on the day. Ric Dillion agrees. His Diamond Hill Capital fund has more than $174 million invested in EOG, making up more than 2% of its portfolio (see Ric Dillion’s top picks).
Timken (TKR) (Up 1.7%): This is another stock Cramer prefers another in its industry. In the case of TKR, which closed at $40.80 a share, up 3.13%, Cramer prefers Nucor (NUE). Ken Griffin is also a fan of TKR, as is Cliff Asness’ AQR Capital Management. The fund holds a position worth more than $62 million in TKR (check out Cliff Asness’ top positions).
Nucor (NUE) (Up 0.7%): Cramer is bullish on NUE, even to the exclusion of TKR. NUE closed Friday at $36.80 a share, up 2.48% on the day. NUE is also a favorite of Jeffrey Vinik. He has over $26 million of his Vinik Asset Management fund invested in NUE (see Jeffrey Vinik’s favorite stocks).
