Cramer's Mad Money - Is Wal-Mart a Speculative Stock?

Stocks discussed on the in-depth session of Jim Cramer’s Mad Money TV Program, Friday April 3.

Speculation Friday: Wal-Mart (WMT)

Who would have thought that retail giant Wal-Mart could be a speculative stock? However, Obama’s proposed legislation, the Employee Free Choice Act, which makes it harder for employers to prevent employees from forming unions could threaten Wal-Mart, which has been profiting from the lack of regulation in this area. The high cost of unionized labor will deal a harsh blow to Wal-Mart, and Cramer was critical of Obama’s plan to implement such reforms while the economy is still struggling. For this reason, he predicts the Employee Free Choice Act will be defeated, and it is worth speculating on Wal-Mart.

Believe the Rally: Celgene (CELG)

The skeptics say 24% jump in the market was due to short covering, but Cramer thinks the rally is real and has more permanent bullish reasons behind it. He believes housing is bottoming and the reforms of the Federal Reserve are creating conditions for recovery. Cramer would not buy stocks now, since many are up as much as 50%, but would consider buying solid names such as Celgene on a pullback; “The easy money’s already been made,” said Cramer, “but that doesn’t mean we’re not still going higher.”

Pepsi (PEP), Coke (KO)

The war between Pepsi and Coke over market share has finally been won…by Pepsi. The two were duking it out when commodity prices were high, and now that raw costs and gas prices have stabilized the skirmishing has stopped. Cramer points to the strength of Pepsi’s Frito Lay brands and increasing sales at convenience stores. The stock is trading at 14 times earnings and at a 27% discount to historical levels. Cramer thinks the stock should be trading at a premium and is headed higher.

Mad Mail: Sears Holdings (SHLD), Terex (TEX), Caterpillar (CAT)

Cramer has started recommending Sears again on the strength of its CEO, Eddie Lampert. Caterpillar is a better infrastructure play than Terex, according to Cramer.

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