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NEW YORK ( TheStreet) -- "We need to see good news on many fronts before I'll bless this market as investable," Jim Cramer told his Mad Money viewers Thursday. Cramer admitted that while there was some good news in today's session, it simply wasn't enough to sway his cautionary view.
While discussing today's news Cramer referred back to his Monday list of 10 things the markets need to see before a sustainable rally can occur. He noted that oil prices did seem to find a little footing and may hold around $80 a barrel. That was good news.
Cramer also noted on Monday that speculative stocks need to be reined in. That certainly happened when Netflix (NFLX) disappointed and the stock sank 19%, just as it should.
The markets also saw some "beat and raise" earnings from UnitedHealth Group (UNH) and HCA Holdings (HCA) . Another check on Cramer's list.
But there are still too many items left unchecked, Cramer noted, mainly Ebola, Russia and Europe along with a very shaky tech sector. That was too much uncertainty for Cramer, which is why he predicted the markets will continue to go down on bad news and bounce on no news.
Don't Blame the Fed
Who's really to blame for the death of our raging bull market? All year long the bears have been predicting that the Federal Reserve would be the culprit. Turns out they were totally wrong.
Yes, the bears have feared that the Fed, with its aggressive bond buying program, would send interest rates through the roof as rampant inflation besieged our economy. But in reality we've only seen deflation, not inflation, and the U.S. economy seems to be on solid ground after all, Cramer said.
So while the bears were ultimately right that our government would be the stock market's undoing, they targeted the wrong government agency. It wasn't the Fed that killed the bull, Cramer explained, it was the Centers for Disease Control.
Every assurance the CDC offered Americans to stem the Ebola panic has been completely false, Cramer said, and the lack of preparedness has been appalling.
You can also point fingers at the rest of the U.S. government, Cramer added. The State Department, Department of Defense and many others failed to get ahead of both the crisis in Russia and ISIS in the Middle East.
Ironically, the Federal Reserve has been one of the only agencies actually helping the stock market, Cramer concluded.
Pull the Plug on Netflix
What should investors make of the huge decline in Netflix (NFLX) , down 19% on sub-par quarterly earnings? Cramer analyzed the results to find out.
The expectations were very high going into the quarter, Cramer noted. When stocks with cult-like followings like Netflix miss those expectations, they fall from grace quickly and there might not be anything to stop the free fall.
Netflix only grew its subscriber base by three million members, a full 600,000 fewer than even the company was expecting. If that weren't enough, Netflix lowered its guidance from 85 cents a share to just 44 cents a share. The company also saw its free cash flow turn negative for the first time since 2013 as its expansion and content costs continue to balloon.
Cramer said the last time Netflix blew up, the stock fell 250 points over a 15-month period. So while this quarter may be just a short-term hiccup, it's best to cut your losses and run, he said. The stock could go substantially lower from here before things get better.
Executive Decision: Kelly King
For his "Executive Decision" segment, Cramer spoke with Kelly King, chairman and CEO of BB&T (BBT) , a regional bank with a 2.7% dividend yield. BB&T just delivered an earnings miss of 1 cent a share on better-than-expected revenue and 4.9% loan growth, well shy of the 7% growth analysts were expecting.
King said with interest rates falling rapidly over the past few weeks, his bank has seen a definitive pickup in refinance activity. He said the ultra-low rates have been a big win for consumers with home loans and for small business as well.
When asked how things are going in Texas, a state where BB&T is expanding rapidly, King said the Texas economy continues to be strong and BB&T continue to grow organically and through acquisitions in the state.
Turning to the overall U.S. economy, King painted a more conservative picture. He said over the past two years, the vast majority of business leaders have told him that they're only investing defensively, out of fears over taxation, regulation, healthcare and other Washington-based concerns. If Washington gets its act together, King said that sentiment could change quickly.
Cramer said King is a real banker making real money for shareholders and he continues to like the stock.
Lightning Round
In the Lightning Round, Cramer was bullish on Regeneron Pharmaceuticals (REGN) , Facebook (FB) , Pioneer Natural Resources (PXD) , Dominion Resources (D) , ALPS Alerian MLP ETF (AMLP) and Exxon Mobil (XOM) .
Executive Decision: Mary Dillon
In his second "Executive Decision" segment, Cramer went on location to sit down with Mary Dillon, CEO of Ulta Salon (ULTA) , a stock that rallied 3% Thursday, a day after the company's annual analyst day.
Dillon said the key to Ulta's successful turnaround has been focusing on its guests and making Ulta a beauty destination with all things beauty all in one place.
Dillon said Ulta carries a wide assortment of items from hair care to skin care, fragrance and more, all in a full spectrum of price points, because every woman has her high-end splurges and her low-end basics.
Traffic has been strong since Dillon took over the reins at Ulta last year. Same-store sales are up and Dillon said she has a five-year plan for continued growth and expansion.
NEW YORK ( TheStreet) -- "We need to see good news on many fronts before I'll bless this market as investable," Jim Cramer told his Mad Money viewers Thursday. Cramer admitted that while there was some good news in today's session, it simply wasn't enough to sway his cautionary view.
While discussing today's news Cramer referred back to his Monday list of 10 things the markets need to see before a sustainable rally can occur. He noted that oil prices did seem to find a little footing and may hold around $80 a barrel. That was good news.
Cramer also noted on Monday that speculative stocks need to be reined in. That certainly happened when Netflix (NFLX) disappointed and the stock sank 19%, just as it should.
The markets also saw some "beat and raise" earnings from UnitedHealth Group (UNH) and HCA Holdings (HCA) . Another check on Cramer's list.
But there are still too many items left unchecked, Cramer noted, mainly Ebola, Russia and Europe along with a very shaky tech sector. That was too much uncertainty for Cramer, which is why he predicted the markets will continue to go down on bad news and bounce on no news.
Don't Blame the Fed
Who's really to blame for the death of our raging bull market? All year long the bears have been predicting that the Federal Reserve would be the culprit. Turns out they were totally wrong.
Yes, the bears have feared that the Fed, with its aggressive bond buying program, would send interest rates through the roof as rampant inflation besieged our economy. But in reality we've only seen deflation, not inflation, and the U.S. economy seems to be on solid ground after all, Cramer said.
So while the bears were ultimately right that our government would be the stock market's undoing, they targeted the wrong government agency. It wasn't the Fed that killed the bull, Cramer explained, it was the Centers for Disease Control.
Every assurance the CDC offered Americans to stem the Ebola panic has been completely false, Cramer said, and the lack of preparedness has been appalling.
You can also point fingers at the rest of the U.S. government, Cramer added. The State Department, Department of Defense and many others failed to get ahead of both the crisis in Russia and ISIS in the Middle East.
Ironically, the Federal Reserve has been one of the only agencies actually helping the stock market, Cramer concluded.
Pull the Plug on Netflix
What should investors make of the huge decline in Netflix (NFLX) , down 19% on sub-par quarterly earnings? Cramer analyzed the results to find out.
The expectations were very high going into the quarter, Cramer noted. When stocks with cult-like followings like Netflix miss those expectations, they fall from grace quickly and there might not be anything to stop the free fall.
Netflix only grew its subscriber base by three million members, a full 600,000 fewer than even the company was expecting. If that weren't enough, Netflix lowered its guidance from 85 cents a share to just 44 cents a share. The company also saw its free cash flow turn negative for the first time since 2013 as its expansion and content costs continue to balloon.
Cramer said the last time Netflix blew up, the stock fell 250 points over a 15-month period. So while this quarter may be just a short-term hiccup, it's best to cut your losses and run, he said. The stock could go substantially lower from here before things get better.
Executive Decision: Kelly King
For his "Executive Decision" segment, Cramer spoke with Kelly King, chairman and CEO of BB&T (BBT) , a regional bank with a 2.7% dividend yield. BB&T just delivered an earnings miss of 1 cent a share on better-than-expected revenue and 4.9% loan growth, well shy of the 7% growth analysts were expecting.
King said with interest rates falling rapidly over the past few weeks, his bank has seen a definitive pickup in refinance activity. He said the ultra-low rates have been a big win for consumers with home loans and for small business as well.
When asked how things are going in Texas, a state where BB&T is expanding rapidly, King said the Texas economy continues to be strong and BB&T continue to grow organically and through acquisitions in the state.
Turning to the overall U.S. economy, King painted a more conservative picture. He said over the past two years, the vast majority of business leaders have told him that they're only investing defensively, out of fears over taxation, regulation, healthcare and other Washington-based concerns. If Washington gets its act together, King said that sentiment could change quickly.
Cramer said King is a real banker making real money for shareholders and he continues to like the stock.
Lightning Round
In the Lightning Round, Cramer was bullish on Regeneron Pharmaceuticals (REGN) , Facebook (FB) , Pioneer Natural Resources (PXD) , Dominion Resources (D) , ALPS Alerian MLP ETF (AMLP) and Exxon Mobil (XOM) .
Executive Decision: Mary Dillon
In his second "Executive Decision" segment, Cramer went on location to sit down with Mary Dillon, CEO of Ulta Salon (ULTA) , a stock that rallied 3% Thursday, a day after the company's annual analyst day.
Dillon said the key to Ulta's successful turnaround has been focusing on its guests and making Ulta a beauty destination with all things beauty all in one place.
Dillon said Ulta carries a wide assortment of items from hair care to skin care, fragrance and more, all in a full spectrum of price points, because every woman has her high-end splurges and her low-end basics.
Traffic has been strong since Dillon took over the reins at Ulta last year. Same-store sales are up and Dillon said she has a five-year plan for continued growth and expansion.
