On Tuesday, Jim Cramer, host of Mad Money, offered his perspective on the day’s market rally as he delved into the impact of the ongoing dynamic between President Donald Trump and Federal Reserve Chair Jerome Powell.
“All day, I heard that today’s rally was just a bear market rally, okay? That it was a phony spike, and the market will go right back down the moment the president posts that there’ll be no compromise on tariffs. Who knows, maybe Fed Chief Jay Powell should be deported.”
READ ALSO: 9 Stocks on Jim Cramer’s Radar and Jim Cramer’s Thoughts on These 5 Stocks.
However, Cramer pointed out that the tone shifted significantly just after the market closed. In his words, “We get incredible news that is sure to drive this market higher.” The news came directly from the President, who clarified that he had no intention of firing Powell, a rumor that Cramer identified as a major factor in the prior day’s market slide. Trump’s statement, “Never did, never will,” regarding any plans to remove Powell effectively erased the cloud of uncertainty that had been hanging over the markets.
Given this reversal, Cramer questioned whether the rally could still be called a bear market bounce. In his view, it now looked like something more substantial. He explained that real recoveries are often mischaracterized at first. According to Cramer, they typically begin with what appear to be bear market rallies, short-lived, suspicious upticks that many investors brush off due to repeated disappointments in the past. He stressed that the early stages of genuine market turnarounds are often marked by disbelief and hesitation, with only the boldest or most reckless traders recognizing their potential early on. He added:
“Now look, just because the President doesn’t want a constitutional crisis and is going to keep Powell doesn’t mean we have more to go on. For example, there’s been no sign of change from the administration on the trade wars.”
Our Methodology
For this article, we compiled a list of 15 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 22. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the fourth quarter of 2024, which was taken from Insider Monkey’s database of over 1,000 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Jim Cramer Recently Talked About These 15 Stocks
15. Quanta Services, Inc. (NYSE:PWR)
Number of Hedge Fund Holders: 67
During the lightning round, a caller asked about Quanta Services, Inc. (NYSE:PWR). Here’s what Cramer had to say, “Alright, this is a Stephanie Link favorite, Quanta. I agree with her. I think it’s a buy.”
Quanta Services (NYSE:PWR) provides infrastructure solutions across multiple industries, including electric power, renewable energy, communications, and pipeline sectors. The company specializes in the design, construction, maintenance, and repair of infrastructure for power generation, transmission, distribution, and storage, as well as offering services for gas and communications systems. In 2024, when Cramer was asked about the company, he said, “They’re so good, isn’t it incredible? Quanta’s just such a terrific company.”
14. Cinemark Holdings, Inc. (NYSE:CNK)
Number of Hedge Fund Holders: 50
A caller asked how Cramer felt about Cinemark Holdings, Inc. (NYSE:CNK) in the present and the future, and the company’s standing in comparison to its peers. In reply, Cramer said:
“Not bad, not bad. Not great, not bad. I mean, a lot of these stocks are kind of like just out there. I don’t have an edge on that one.”
Cinemark Holdings (NYSE:CNK) is involved in the motion picture exhibition industry. The company runs theaters across the United States and Latin America. On April 11, JPMorgan analyst David Karnovsky upgraded CNK to Overweight from Neutral and set a new price target of $34, up from $30. He expressed growing confidence in the company’s growth prospects for 2026 and 2027 following CinemaCon.
Karnovsky highlighted that, despite the current economic uncertainty, Cinemark Holdings (NYSE:CNK) remains one of the least affected companies in the industry. He pointed out that attendance tends to be more influenced by film quality than broader economic factors, a trend that should persist even with the rise of streaming alternatives. The upgrade was driven by a stronger long-term outlook.
13. CoreWeave, Inc. (NASDAQ:CRWV)
Number of Hedge Fund Holders: N/A
When Cramer was asked about CoreWeave, Inc. (NASDAQ:CRWV) during the episode, he noted:
“CoreWeave, it was up $3 today, and that’s a big move for CoreWeave. I am a believer in the data center, but I gotta tell you, I feel very lonely out there. I’m not gonna hang my hat on it.”
CoreWeave (NASDAQ:CRWV) operates a cloud platform that supports GenAI with services including compute, storage, networking, AI model training, VFX rendering, and mission control, along with various infrastructure and lifecycle management tools. At the beginning of April, Cramer stated:
“Coreweave shares fell yesterday $3 or almost 7%, but then today the stock catches fire and soars almost 42% to $52 and change, because suddenly people believe in AI infrastructure again. Coreweave this is the star of the AI infrastructure firmament. “
Here’s the truth about CoreWeave. I talked to so many people about these guys when I was at GTC, the Nvidia Trade Fest, and at the Samsung Bureau for CNBC, and everybody loved them; everybody!
[…] Anyone in the data center world understood the Coreweave was the best at what it does. […] Nothing’s changed, nothing at all except the price […] Everyone needs to remember what happened here. The same stock they couldn’t give away last week is now roaring higher on absolutely no new news. I’ll back the view of every single person I met in the data center business, including random people at GTC booths who know this thing is real.”
12. Ferguson Enterprises Inc. (NYSE:FERG)
Number of Hedge Fund Holders: 72
Highlighting its dividend, $32 billion market cap, and forward PE ratio, a caller inquired about Ferguson Enterprises Inc. (NYSE:FERG), and Cramer said:
“Oh, I like Ferguson a lot. Now Ferguson’s part of a whole cohort of stocks that I like. They got brought down when people decided they didn’t want the data centers anymore. That’s a mistake. I think it’s in good shape.”
Ferguson Enterprises (NYSE:FERG) distributes plumbing, heating, and HVAC products, and it offers a wide range of solutions for residential, commercial, and industrial customers. The company also provides specialized services like project management, installation, fabrication, and after-sales support. Parnassus Investments stated the following regarding Ferguson Enterprises Inc. (NYSE:FERG) in its Q4 2024 investor letter:
“We also added Industrials sector holding Ferguson Enterprises Inc. (NYSE:FERG), a leading distributor of plumbing supplies and construction equipment. Ferguson’s highly efficient operations, extensive distribution networks and broad product offerings give the company clear leadership over smaller, local competitors. Ferguson’s scale advantages are expected to increase as it consolidates the fragmented industry structure. Additionally, the structural tailwinds of aging infrastructure and housing shortages should support Ferguson’s long-term organic growth. Led by a tenured management team with a strong track record, the company is well positioned going forward, we believe.”
11. USA Rare Earth, Inc. (NASDAQ:USAR)
Number of Hedge Fund Holders: N/A
When a caller asked about USA Rare Earth, Inc. (NASDAQ:USAR), Cramer remarked:
“Oh, too speculative, my friend. And… as we saw… tonight, we gotta go into a little bit more calm down because we don’t know whether tomorrow, if tomorrow we’re going to go right back into the badness. Let’s stay away from that.”
USA Rare Earth (NASDAQ:USAR) is involved in the extraction and supply of rare earth elements and essential minerals, with access to a deposit containing materials like dysprosium, terbium, gallium, beryllium, and lithium.
10. Coupang, Inc. (NYSE:CPNG)
Number of Hedge Fund Holders: 87
Calling it the “Amazon of South Korea”, a caller inquired about Coupang, Inc. (NYSE:CPNG). Here’s what Cramer had to say:
“You know, I think it’s an interesting spec. I like it. I like it. Look, I don’t really know what Stanley’s up to, because… I haven’t seen him in a long time. He is a very, very good investor. But I like the idea. I think it’s a good call.”
Coupang (NYSE:CPNG) runs a retail business through digital platforms. It provides a range of services from e-commerce and fresh grocery delivery to online content streaming, food delivery, fintech, and luxury fashion. In Q4 2024, the company reported $8.0 billion in net revenues, up 21% on a reported basis and 28% year-over-year. The company’s gross profit rose 48% to $2.5 billion, and the margin was 31.3%. Diluted EPS dropped by $0.49 to $0.08 due to a one-time tax-related benefit in Q4 2023.
9. LeMaitre Vascular, Inc. (NASDAQ:LMAT)
Number of Hedge Fund Holders: 20
LeMaitre Vascular, Inc. (NASDAQ:LMAT) was mentioned during the episode, and here’s what Cramer had to say:
“Now I like the medical device market right now, and I think this LMAT, LeMaitre looks like a really good under-the-radar way to play it.”
LeMaitre Vascular (NASDAQ:LMAT) develops and manufactures medical devices and implants for vascular surgery. The company provides a wide range of products like grafts, catheters, biologic patches, and vascular grafts. As per the company’s projections, organic sales are expected to increase by 10% in 2025. In the same period, the gross margin is expected to reach 69.7%.
The company has attributed it to benefits stemming from price adjustments implemented in January 2025 and improved efficiency in its manufacturing processes. LeMaitre Vascular’s (NASDAQ:LMAT) operating income for the full year is expected to be $59.8 million, which is a 15% increase. Additionally, EPS is forecasted to rise by 16% to $2.24.
8. Biohaven Ltd. (NYSE:BHVN)
Number of Hedge Fund Holders: 41
A caller asked for Cramer’s take on Biohaven Ltd. (NYSE:BHVN). Here’s what Mad Money’s host had to say:
“Alright, first, in pure disclosure, Biohaven, I’m working with them. They’ve bought a drug from me, that I made for me, and a terrific guy, Larry Newman, Dr. Newman, to help solve tinnitus so I always want to tell people that. The stock at $21, I think, therefore, is too cheap. But you might say, oh, that’s just Jim talking because he sold his drug to them. But no, I think the stock is very cheap, and Vlad Coric, who’s the CEO, I think, is really terrific. So I would be a buyer of the stock.”
Biohaven (NYSE:BHVN) focuses on discovering, developing, and bringing to market therapies in immunology, neuroscience, and oncology.
7. Centene Corporation (NYSE:CNC)
Number of Hedge Fund Holders: 72
A caller asked for Cramer’s thoughts on Centene Corporation (NYSE:CNC), and in response, he said:
“Well, you know, like I heard today, Medicaid may be, they involve Medicaid, Medicaid could be cut back, and that’s not good for Centene, as I read it. Centene, though, sells at eight times earnings. I really think it’s a gem of a company. But then again, as you say, I am biased… But I’m going to say thumbs up to Centene at eight times earnings.”
Centene (NYSE:CNC) is a healthcare provider offering a range of services for underserved populations and commercial organizations. Its operations span Medicaid, Medicare, commercial health insurance, and various clinical and support services. River Road Asset Management stated the following regarding Centene Corporation (NYSE:CNC) in its Q4 2024 investor letter:
“The holding with the lowest contribution to active return wasCentene Corporation (NYSE:CNC) , a managed care organization (MCO) specializing in government-sponsored plans. Historically, health insurance has been a steady business that generates consistent free cash flow (CNC has produced positive FCF since 1998), and we believe CNC stands out as the prime MCO beneficiary of any future economic weakness. The company is the leading provider of Medicaid managed care plans with 17% market share, and it also owns the leading individual exchange franchise. When the economy stumbles, CNC’s revenues should increase as more individuals qualify for CNC’s plans. We are particularly encouraged by the new management’s focus on shareholder value–since the founder stepped down in Q4 2021, the company has divested seven businesses for more than $3.5B and deployed the proceeds into share repurchases.
Despite these strong long-term fundamentals, Centene’s stock declined. This was primarily due to ongoing challenges in its Medicaid business, where the medical loss ratio continued to deteriorate due to a mismatch between reimbursement rates and patient acuity following redeterminations, with Medicaid membership declining -14% even as exchange enrollment grew 22%. While management remains confident this pressure is temporary and all states have acknowledged the need to adjust rates to match patient acuity, investors remained concerned about the timing of this recovery. The stock was further pressured by broader health care sector headwinds, including potential policy risks from a Republican sweep and changes to Medicare Part D prescription drug plans. Even though the company maintained its fiscal year (FY) 2024 adjusted earnings per share (EPS) guidance of over $6.80 and executed significant share repurchases of $1.6B in Q3 and October (~4.7% of shares outstanding), the stock traded at just 9.4x forward earnings, well below its five-year average of 12x, reflecting near-term investor skepticism. We maintained the position.”
6. Northrop Grumman Corporation (NYSE:NOC)
Number of Hedge Fund Holders: 54
Coming to Northrop Grumman Corporation (NYSE:NOC), Cramer remarked:
“Finally, there’s Northrop Grumman, which was the dud of the day, reporting a severe top and bottom line miss for the first quarter, and cutting its full year earnings forecast pretty substantially. Now there’s some important context here. Both the miss and the forecast cut were related to Northrop Grumman’s next-generation B-21 bomber program. They’re taking a hit on the higher cost as they try to ramp up production.
That said, even if you add that back, the impact from the B-21 charge, Northrop Grumman still would’ve missed the sales and earnings estimate. It just would’ve been a smaller disappointment. These Northrop Grumman results simply weren’t up to snuff, so the stock had its worst day since 2008 today, falling $67 or nearly 13%. This one’s now in the penalty box.”
Northrop Grumman (NYSE:NOC) creates advanced aerospace and defense technologies. Its products and services cover areas like aircraft systems, missile defense, tactical weapons, surveillance, command and control systems, satellites, and launch vehicles.
5. Lockheed Martin Corporation (NYSE:LMT)
Number of Hedge Fund Holders: 65
Cramer said that Lockheed Martin Corporation (NYSE:LMT) had become a focal point for fears of Elon Musk’s influence. He also highlighted the fears that DOGE politics might lead to reduced Pentagon budgets. He added:
“Things look even worse after the Trump administration picked Boeing over Lockheed for the military’s next big major fighter jet program. That was a big surprise. But the stock stabilized over the past couple months, and this morning, Lockheed Martin managed to turn in a decent set of numbers. Clean top and bottom line beat. In fact, they earned $7 and 28 cents. Wall Street’s only looking for $6 and 34 cents. That’s magnificent.
Now, Lockheed Martin also reiterated its full-year forecast. But like RTX, Lockheed said their forecast ‘doesn’t include the evolving impact of tariffs or related recoveries’. At the same time, it also doesn’t include new rules from the Trump administration that makes it easier to sell weapons to our allies. Initially, the stock reacted like RTX.”
Cramer noted that Lockheed Martin (NYSE:LMT) shares dropped following the earnings report, falling as much as 3.4% by around 10:00 AM. However, things started to shift once the company’s conference call got underway at 11:00. Cramer pointed out that after the call began, the stock began to recover. It eventually moved into positive territory and ended the day with a slight gain. He added:
“I’d like to tell you it was something management said on the conference call that turned things around, and there were plenty of positives, but I think the rebound had nothing to do with Lockheed specifically. See, shortly before the call began at 11:00, a report… [said] that Vice President JD Vance offered to sell India Lockheed Martin F-35s during a meeting with the Indian Prime Minister today. If that comes to pass, it would be a nice order for Lockheed, and I wouldn’t be surprised if these fighter jets turned into a major chit in our trade negotiations with other countries. That’s how it has worked historically in the past.”
Lockheed Martin (NYSE:LMT) is an international company that works in the security and aerospace fields. It designs, builds, and develops advanced technology, products, and services used in defense and space.
4. RTX Corporation (NYSE:RTX)
Number of Hedge Fund Holders: 80
Cramer said he still likes RTX Corporation (NYSE:RTX), which is the second largest of the four aerospace companies he discussed. However, he noted that the market reacted less positively to it compared to others. He added:
“As with GE, RTX had a solid earnings beat for the first quarter and unlike GE, they were able to pair that with a solid revenue beat. Also, like GE, RTX reiterated its full-year forecast, but there was a catch. The company said explicitly that their outlook did not incorporate the impact of the recently enacted tariffs. Did not. Now, there’s a world of difference between these two forecasts, then. Reiterating your guidance without baking into the tariffs is a de facto guide down. On the conference call, management went into detail about the impact of tariffs. They’re talking about a potential $850 million hit to profits from the tariffs already in place.
And then management added that these estimates don’t include secondary tariff-related impacts, such as changes to customer demand. These secondary impacts are also pretty important too. Personally, I like the first quarter numbers from RTX, and I applaud management for their transparency. But boy, oh boy, the market did not agree with that. RTX saw its stock fall $12 and 37 cents, nearly 10%, in response to the quarter this morning. Wow. I gotta tell you, I’m all over this one. I think there’s more to it than that.”
RTX (NYSE:RTX) supplies systems and services built for commercial, military, and government purposes. The company works on aircraft engines, aerospace tech, and threat detection tools.
3. GE Aerospace (NYSE:GE)
Number of Hedge Fund Holders: 101
Cramer highlighted GE Aerospace’s (NYSE:GE) focus on commercial aviation and minimal defense exposure. He also noted that the stock surged over 6%, or $10.83, after its earnings report. He added:
“Even though GE Aerospace posted a small revenue miss, they gave you a monster 22 cents earnings beat off a dollar 27 basis. Management said the total orders grew 12% in the quarter. That’s really good. Company reiterated its entire full-year forecast. Now, look, in normal environment, merely reiterating your outlook after such a big earnings beat would be, considered to be, let’s say, a big win but nothing that would make you go crazy about it but this time, it is huge. GE explicitly said that their outlook now includes the impact of the administration’s tariff policies, including less air travel. Wow.
Here’s how GE Aerospace Chairman, CEO Larry Culp put it, ‘The macroeconomic dynamics we are operating in today require us to take a number of strategic actions, such as controlling costs and leveraging available trade programs. Based on what we know today, these actions, along with our solid first quarter and commercial services backlog of over $140 billion, enabled us to maintain our full-year guidance.’ Basically, GE held serve. They delivered a solid beat for the first quarter and found a way to reiterate their outlook, which was good enough to send the stock much higher.”
GE Aerospace (NYSE:GE) focuses on building engines for commercial and military planes. The company also supplies integrated parts, electric power systems, and mechanical systems used in aviation.
2. Target Corporation (NYSE:TGT)
Number of Hedge Fund Holders: 56
A caller inquired if Target Corporation (NYSE:TGT) was financially healthy enough to be invested in, and Cramer replied:
“Well, it’s down 30%. It sells at 10 times earnings, but the tariffs are going to hurt it, and I think their pricing is not reasonable enough, and that makes me reluctant to pound the table.”
Target (NYSE:TGT) is a general merchandise retailer that sells a large variety of products, including clothing, beauty products, groceries, electronics, home items, and seasonal goods. The company also carries personal care items, baby products, pet supplies, and everyday household needs. During April 7’s episode, Cramer commented:
“Okay, it’s really interesting because it is a 10 times earnings and it does trade with a 4.75% yield. I think if you’re ever going to buy it, you would probably have to buy it right here frankly. It is cheap historically, how about that?”
1. United Parcel Service, Inc. (NYSE:UPS)
Number of Hedge Fund Holders: 59
A caller bemoaned that they experienced rug burn because of the way United Parcel Service, Inc. (NYSE:UPS) stock has slid. In response, Cramer said:
“Look, I think that, you know, rug burn aside… I do think that you’re going to run into a little trouble because world trade is not what we think it is. And look, I really like FedEx, and I’m not just sitting here pounding the table on FedEx either, so we gotta be careful…”
United Parcel Service (NYSE:UPS) is a known name in package delivery and logistics. The company provides a broad range of services that include transportation, distribution, contract logistics, ocean and air freight, customs brokerage, and insurance. River Road Asset Management stated the following regarding United Parcel Service, Inc. (NYSE:UPS) in its Q4 2024 investor letter:
“As of December 31, the portfolio held 29 positions, up four positions from Q3. During Q4, the largest sector increase was 736 bps within industrials, while the largest decrease was -276 bps within consumer discretionary. We established five new positions and eliminated one position
We also initiated a position in United Parcel Service, Inc. (NYSE:UPS) (Cl B) (UPS, 3.0 conviction), the world’s largest package delivery company, which handles over six billion packages annually and can reach 90% of the world’s gross domestic product (GDP) within a day. After years of elevated network investments to expand capacity, UPS has refocused its strategy on growing return on invested capital (ROIC). We believe the stock will rerate higher as margins, which we believe have bottomed, are expected to expand with the price per package growing faster than the cost per package. In the interim, investors collect a 5% dividend, which has grown in 21 out of 24 years since UPS went public. The dividend is supported by healthy free cash flow and an investment grade balance sheet with ~1x net leverage.”
While we acknowledge the potential of United Parcel Service, Inc. (NYSE:UPS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than UPS but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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