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  Opening Segment #1:
Cramer's Game Plan for Next Week
  Friday, June 24, 2016
 
 

 

   
 

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Jim Cramer's Game Plan for Next Week, and General market comments, below... 

 
 

Note:  Given the importance of the Game Plan for next week, we have recapped it completely verbatim: word for word, for your benefit, below...

   Jim's Quotes from this segment:  

Jim:
          
Even after today's vicious thrashing, I think we are likely to go still lower next week, as people realize that the Brexit consequences might impact the numbers more than many think. Look, I said that it wouldn't be the end of the world if the UK votes to pull out of the European Union, in part because they already have one foot out the door with their own currency. And in part because actually leaving the EU is a long and complicated process. It's probably going to take years. But it's still a big deal. So Sunday night at 8 PM, we are doing a special here on CNBC because we haven't had time to sort through all of the ramifications of this pro-Brexit vote. Ramifications that could explain… like the giant declines we saw today in the stocks of the European banks. I mean, what the heck is going on there? Is there some sort of credit risk? Something much worse than stock risk? Is there the possibility that once one of these banks, or all of them, are on shakier ground than we realize, and that could pull down a lot of other stocks? That's when I'm going to ponder on Sunday night show.

 

Jim:    In other words, I'm focused on their financial institutions, not ours.

Frankly I saw too much bargain-hunting today. Too many stocks that have done nothing but repeal some gains from earlier this week, and no more, and people are buying them. So with that in mind, let's get into the Game Plan for next week.

MONDAY

Tech and Healthcare hunting

On Monday, I'm going to start the hunt for the ideal tech and healthcare to talk about for you… ones that don't have a lot of European exposure, and then are finally down enough to entice you with some degree of safety. Why wasn't today's pain enough to sate the bear? Because I think that many research analyst were caught by surprise here. Brexit was last night, and they are about to put pen to paper this weekend, and revise down the earnings estimates of companies that do a lot of business, not just in the UK, where I anticipate a very big slowdown, but in Europe itself, where the recent economic come back could now be at risk, as there is a real possibility that the continent could roll back into yet another recession. After all, if you're a business person in Europe, how could you not be paralyzed by this decision? Now if you are a bowl, the hope is that there will be genuine remorse, not from those who bought stocks today, but from those people in the UK who voted to leave, given the chaos in the Brexit's wake.

Watch British/European bank stocks:

Barclay's
Lloyds Banking Group
Royal Bank of Scotland
Deutsche Bank
Credit Suisse

So on Monday, watch the stocks of those British and European banks. They have gotten too low… in some cases, as low as 2009. And that makes me very uncomfortable given how little capital these companies have raised since the great recession. Remember, this issue could reverberate again to our shores. Look at high-profile financials like Goldman Sachs and J.P. Morgan, even as it shouldn't necessarily be the case, they are going to be calling… These banks… the tune for ours right now. That said, let's not be glib. I am not… I am not worried about systemic risk here. Our banks of never been stronger; our companies are flush with cash. The world will grow more slowly than it is now. That is true. But our companies will be ready for that. The United States will be the safe haven. I am worried about their banks. In the UK along, listen to this, Barclay's down 18%, Lloyd's off 21%, RBS is down 18%. Even in Europe, both Deutsche Bank and Credit Suisse, off 14%. That's disconcerting. So I suggest you watch these British and European banks because they are what matters right now. Maybe this selloff is more panic and than anything else, in which case, when these stocks stabilize, it'll be the sign that it is safe to get back in the water. We know from the big sovereign debt crisis if you years ago, that Mario Draghi, European Central Bank president, will ensure the safety of Europe's financial system by any means necessary. And whoever takes over from David Cameron in the UK will have every incentive in the world to keep the British financial system from collapsing. Otherwise, they'll be out of office faster than you can say, I told you so.

TUESDAY

Nike Inc.
Carnival Cruise Lines Inc.

Tuesday is a day I'm worried about, if stocks are down a lot on Monday, because we get two stocks that have deep worldwide ties - Nike and Carnival's earnings. The former has been struggling, and disappointed last quarter. The latter has exposure to Europe and, perhaps we have to hear, the Zika virus. I am not eager, at these prices, to buy either one, even as Finish Line… yes, the footwear retailer… blew the doors out today and the stock soared an astounding 21% on some amazing Nike related earnings.

WEDNESDAY

Janet Yellen speaks

What else matters? Wednesday, Janet Yellen. Hey, great. She talks. And wouldn't it be terrific to hear from the fed chief what Brexit means for America and the world? All I can say is, by the way, wow, what a bullet we dodged, given that Yellen chose not to ram through a rate hike just last week.

General Mills Inc.

One of the big key reactions today came the stock of General Mills, one of the ones, my favorites. It's one of my go tos in times of turmoil. This is what bothered me all day about so many stocks. This darn thing? It was only down 63 cents. General Mills reports on Wednesday, and I'm confident the quarter will be fine. It would have been terrific if we had gotten a selloff, because then you'd have a rare buying opportunity. Maybe we'll get one anyway. Witness how Campbell Soup reported a widely-panned quarter, and the stock's been rallying ever since.

Monsanto, Inc.

We also hear from Monsanto on Wednesday, and I want to know the state of its potential takeover talks with Bayer. This company is in play for certain, but I am concerned that this is the kind of transaction that simply may not happen, because Bayer is a German company, and this Brexit vote could put any European business on hold. Remember, they have been doing a lot of acquiring here.

THURSDAY

ConAgra Foods Inc.

Thursday intrigues me, because four companies report. And all four, I have been thinking about buying into weakness, or certainly recommending to you.
My charitable trust is certainly looking at them all. So let's go over each one.

First there is ConAgra. This is where we're having a huge turnaround in a food company that good bolster its growth rate, as it divides itself into a service business and a regular commercial brand of business. I want to know how old those two divisions are doing. I really like them both. There is some hidden value here.

Constellation Brands, Inc.

Then there is Constellation Brands, one of the few stocks that I like that really took it on the chin today, and the last few days, frankly. The company that owns the US rights to Corona and Modelo is richly valued in deed, but it can be an opportunity, given its domestic strengths. Constellation is not just beer. It's also wine and tequila and, while they are not growing as fast as beer, they are pretty darn hot.

McCormick, Inc.

McCormick is another one that I was hoping would come in soon. You know look, we're talking about things that are just… they are on the your desk forever. Now nothing is like spices want to comes to consistency, regardless of the post-Brexit madness.

Darden restaurants Inc.

Then there is Darden, the parents of Olive Garden, where I had a really good salad just two weeks ago with my daughter. This is a stock that had a 4% yield not that long ago. But it took off when it reported an excellent quarter with a definitive turn at Olive Garden. I think that, if this entirely-domestic companies' shares come down to a level where they yield more than the current 3... not enough, not much of a trampoline… then that one will become attractive.

FRIDAY

ISM Manufacturing Data

Finally, Friday, we get a read on the US economy, where we hear that ISM manufacturing number. I'm concerned that we're going to see a slowdown in manufacturing if we get too strong a dollar, post-Brexit. But fortunately we don't have to fret about that yet, the one thing that we are not.

So here's the bottom line…

▼   ▼   ▼   ▼   ▼

When I look at the Game Plan, I know that the real worry here is from overseas, and I hope we get a better read about how bad Brexit really is for the global economy. And of course, for ours. So watch those British and European bank stocks because, until they stabilize, we need to be vigilant and do a lot more watching, and a lot less buying.
 

Our convenient streamlined recap format:

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Convenient direct video link for just this segment here:  Video link (new window)...

[end of segment]

 

 

Note:   Pertaining to these stock recommendations & any other, Jim Cramer recommends that we do our homework before investing.   We've provided a free workbook at this StockHomework101 site for this,   here >>

 

  UPDATED!  BOUGHT Home Depot & KeyCorp ::  SOLD General Mills and Coach - for the ActionAlertsPlus portfolio!...  
  See Jim's entire Charitable Trust Portfolio stocks
 
here >>    
  Now get Jim's daily email alerts (FREE TRIAL) here >>  

  New FREE stock homework website and workbook...  

[end of segment]

*Note:  An asterisk next to a stock indicates that Jim owns it currently for his charitable trust.  If you are interested in a particular stock, Jim Cramer recommends that you always do the homework on each stock, and that you wait at least one trading week after his show recommendation to evaluate whether it is a good stock trade or investment for you. 

Market Results today:

Dow:  - 611

Nasdaq:  - 202

S&P 500:  - 76

 

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