Traders-Blog.com

Stocks ended mixed today but higher on the week after the Federal Reserve raised hopes of an end to interest-rate hikes, and the first-quarter earnings season got off to good start with strong results from companies such as Google Inc, Yahoo Inc, United Technologies Corp and 3M Co. However, broader market ended lower as crude prices spiked above $75 a barrel taking the fuel out of the Nasdaq and S&P on worries about higher energy costs for companies and consumers.

Today, the Dow Jones industrial average closed up 7.68 to 11,350.57. The index is within sight of its all time high of 11,722.98. The broader Standard & Poor’s 500 closed down 0.08 to 1,311.38, and the Nasdaq composite index closed down 19.63 or 0.8% to 2,342.92. For the week, the Dow gained 1.9%, the S&P gained 1.7% and the Nasdaq gained 0.7%.

Market breadth was mixed. On the New York Stock Exchange, winners edged out losers by 17 to 15 on volume of 1.6 billion shares. On the Nasdaq, decliners beat out advancers three to two on volume of 2.3 billion shares.

Optimism that earnings have been good and the economy remains strong, can also lead to the Feds having a reason to raise rates. The concern is also that oil is at a all time high. The longer it remains at this price, the more it will erode away some of the growth not only in the economy, but also in corporate profits.

Shares of 3M Co. rose to a one-year high after the industrial and consumer-products maker lifted its 2006 profit and sales outlook after posting forecast-beating quarterly results. The stock closed up $2.56 or 3% to $85.16. The company has reported strength in its business all around. Other Dow gainers included Alcoa that closed up $0.65 to $35.42, and Exxon Mobil that closed up $1.03 to $64.95. Shares of Google zoomed up $22.40 to $437.40, on reporting first-quarter sales and earnings that topped estimates. Many brokerage firms upgraded the stock and raised their earnings targets for the company.

Shares of Merck down $0.33 or 1% to $34.67, after a jury in a Texas border town found the drug maker liable in the death of a former Vioxx patient. McDonald’s Corp. also dropped 48 cents to $34.60, after posting first-quarter earnings in line with analyst expectations. Shares of Ford Motor Co. fell 7.9% to $7.32 after the carmaker posted a loss of more than $1 billion amid a sales decline and a turnaround plan that will cost the company up to 30,000 jobs in the coming years. Rival General Motors also closed down $0.88 or 4% to $21.76.

Shares of Dell Inc. fell to a near a three-year low, down 4.4% down $1.26 to $26.98, after Citigroup downgraded the computer maker two notches to sell from buy, on the belief that a weak growth outlook for its U.S. PC business and end-market deceleration increases the probability of a “margin reset.” The stock price target has also been reduced to $28 from $37.

U.S. light crude oil for June delivery rose $1.48 to $75.17 a barrel on the New York Mercantile Exchange after rising as high as $75.35, a new record for a front-month contract. This was a positive for oil stocks, which surged and took the Amex Oil index up 32.58 or 2.5% to 1,185.24.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter

We have done our best to record the calls for you, but remember that the shows are fast moving, and sometimes Cramer bangs on the sell! sell! sell!, bull roar, train wreck, suicide jump, hallelujah chorus, backing up truck, creepy house of pain voice, machine gun, fanfare, toilet flush, all aboard, applause, cash register, bear growl, bowling pins, and submarine diving alarm buttons all at once, while he is screaming.

Please do your own research, and verify all information before acting on it. This summary of Cramer’s picks is not intended to replace watching the shows, where his comments about the stocks often include advice about entry and exit points.

Bullish
Advanced Micro Devices (AMD) (Lightning Round)
Agilent (A) (Lightning Round)
Allstate (ALL) (mentioned on Stop Trading)
Altria’s (MO) (Realmoney Radio)
Ametek (AME) (mentioned on Stop Trading)
Barnes Group (B) (mentioned on Stop Trading)
BE Aerospace (BEAV) ($40 target) (Lightning Round)
BHP Billiton (BHP) ($50 target) (Lightning Round)
Brocade Communications Systems (BRCD) (Realmoney Radio)
Canadian National Railway (CNI) (Lightning Round)
Ciena (CIEN) ($5 target) (Lightning Round)
Ciena (CIEN) (mentioned on Mad Money)
Coldwater Creek (CWTR) (Lightning Round)
Conexant (CNXT) (Realmoney Radio)
Conexant Systems (CNXT) (mentioned on Mad Money)
Cooper Industries (CBE) (Lightning Round)
Cooper Industries (CBE)(ABB) (mentioned on Stop Trading)
Crystallex (KRY) (Realmoney Radio)
Emcore (EMKR) (featured on Mad Money)
Energy Conversion Devices (ENER) (mentioned on Mad Money)
Freescale Semiconductor (FSL) (mentioned on Mad Money)
Goldcorp (GG) (Realmoney Radio)
Goldman Sachs (GS) (Lightning Round)
Google (GOOG) ($600 target) (mentioned on Mad Money)
Hartford Financial (HIG) (mentioned on Stop Trading)
Illinois Tool Works (ITW) (mentioned on Stop Trading)
JDSU (JDSU) (mentioned on Mad Money)
Lincoln National (LNC) (mentioned on Stop Trading)
National Oilwell Varco (NOV) (Realmoney Radio)
News Corp (NWS) (Lightning Round)
Occidental Petroleum (OXY) (mentioned on Mad Money)
Penn National Gaming (PENN) ($50 target) (Lightning Round)
Prudential (PRU) (mentioned on Stop Trading)
Qualcomm (QCOM) (Realmoney Radio)
Schering-Plough (SGP) (Lightning Round)
Schering-Plough (SGP) (mentioned on Stop Trading)
Schering-Plough (SGP) (Realmoney Radio)
Scientific Games (SGMS) (featured on Mad Money)
Sealy (ZZ) (Realmoney Radio)
United Tech (UTX) (mentioned on Stop Trading)
Wells Fargo (WFC) (Realmoney Radio)
Yahoo! (YHOO) (Realmoney Radio)

Bearish
Altera (ALTR) (Lightning Round)
Broadcom (BRCM) (Realmoney Radio)
Capstone Turbine (CPST) (mentioned on Mad Money)
Chico’s FAS (CHS) (Lightning Round)
China Medical Technologies (CMED) (Lightning Round)
Citigroup (C) (Realmoney Radio)
Cooper Tire & Rubber (CTB) (Lightning Round)
Fording Canadian Coal Trust (FDG) (Realmoney Radio)
Southern Copper (PCU) (Lightning Round)
Stats ChipPAC (STTS) (Lightning Round)

Having trouble writing down all of Cramer’s picks?
Free daily recap newsletter to your inbox

Strong earnings from General Motors Corp., Merck & Co. and Altria Group Inc. lifted the Dow Jones Industrial Average to its best level in six years, but the Nasdaq Composite Index fell after disappointing profit outlooks from eBay Inc. and Juniper Networks. Oil and gold shares fall despite a retreat from record oil prices.

Today, the Dow Jones industrial average closed up 64.12 or 0.6% to 11,342.89, its highest point since Jan. 20, 2000. The broader Standard & Poor’s 500 index closed up 1.53 to 1,311.46, while the Nasdaq composite closed down 8.33 or 0.4% to 2,362.55.

Market breadth was negative. On the New York Stock Exchange, losers edged out winners 17 to 15 on volume of 1.78 billion shares. On the Nasdaq, decliners topped advancers by 16 to 13 as roughly 2.2 billion shares exchanged hands.

On the data front, the Philly Fed diffusion index rose to 13.2 in April from 12.3 in March. This indicates expansion, however, the increase was below expectations. Inflationary pressures increased. The PPI rose to 29.0 from 17.2, while the PRI held steady at 15.4. The jobless claims in the latest week fell more than expected to 303,000 against the expected 310,000. The report suggests more tightening in the labor market. The U.S. index of leading economic indicators fell 0.1% in March; which indicates some slowing in the pace of economic activity through this summer.

There continues to be a battle between rising interest rates and oil prices on the one hand, and positive earnings reports on the other. The slew of positive earnings over the last several days has been good for stocks. While the Dow gained, investors bailed out of networking, Internet and biotech stocks.

The star of the day was General Motors that closed up $2.07 or over 10% to $22.64, after it posted an operating profit in the first quarter. The company earned $152 million, excluding all special items, such as charges related to an agreement to change health care coverage for some retirees and their families. The sales for the company rose 14% in the quarter.

Stock of Merck closed up $0.60 or 1.7% to $35.00, after reporting higher quarterly profit. The drugmaker also raised its full-year earnings outlook based on an increase in sales by 1%. The other stock to gain on upbeat earnings was Altira Group Inc. The company reported that first-quarter profit that rose 34% from a year earlier, thanks to a tax benefit and strong sales at its Philip Morris USA unit. This resulted in the share gaining 1.6% to $70.04. Stock of Apple closed up $1.98 or 3% to $67.63, after the company posted earnings that beat expectations. The results are attributable to sales of its iPod portable music players continued to surge. U.S.-listed shares of Nokia Corp. surged 4.9% to $22.81 after it posted a forecast-beating 21% jump in first-quarter profit on higher sales in India and China.

Amongst losers, eBay closed down $3.58 or 9% to $36.77, after its profit slipped 3%, and after reiterating its outlook, which some analysts called conservative. Juniper Networks closed down $2.05 or 10% to $18.25, after the company reported weaker-than-forecast revenue and provided a disappointing outlook. Shares of Intel closed 11 cents at $19.45. While the declared first-quarter results matched analyst expectations, it also issued a June quarter forecast that lagged Wall Street expectations.

U.S. light crude oil for May delivery settled down 22 cents at $71.95 a barrel on the New York Mercantile Exchange.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter

We have done our best to record the calls for you, but remember that the shows are fast moving, and sometimes Cramer bangs on the sell! sell! sell!, bull roar, train wreck, suicide jump, hallelujah chorus, backing up truck, creepy house of pain voice, machine gun, fanfare, toilet flush, all aboard, applause, cash register, bear growl, bowling pins, and submarine diving alarm buttons all at once, while he is screaming.

Please do your own research, and verify all information before acting on it. This summary of Cramer’s picks is not intended to replace watching the shows, where his comments about the stocks often include advice about entry and exit points.

Bullish
ABB (ABB) (Realmoney Radio)
Apple (AAPL) ($100 target) (Lightning Round)
Blockbuster (BBI) (mentioned on Stop Trading)
Bunge (BG) (Realmoney Radio)
Conexant (CNXT) (Lightning Round)
D.R. Horton (DHI) (Realmoney Radio)
Disney (DIS) (Realmoney Radio)
DJ Orthopedics (DJO) ($46 target) (featured on Mad Money)
E*Trade Financial (ET) (CEO interview on Mad Money)
Eastman Chemical (EMN) (Realmoney Radio)
Eastman Kodak (EK) (Realmoney Radio)
Express Scripts (ESRX) ($75 target) (Lightning Round)
Finisar (FNSR) (Lightning Round)
Fluor (FLR) (Realmoney Radio)
Foster Wheeler (FWLT) (Realmoney Radio)
GameStop (GME) (Realmoney Radio)
Garmin (GRMN) (Lightning Round)
Goldcorp (GG) (Lightning Round)
Google (GOOG) ($540 target) (Lightning Round)
Grey Wolf (GW) ($10 target) (Lightning Round)
Halliburton (HAL) (featured on Mad Money)
Headwaters (HW) (Realmoney Radio)
Hewitt Associates (HEW) (Lightning Round)
I-Flow (IFLO) (Lightning Round)
JDSU (JDSU) (Lightning Round)
KFx (KFX) (Realmoney Radio)
Manpower (MAN) (Realmoney Radio)
Monsanto (MON) (Realmoney Radio)
Newell Rubbermaid (NWL) (Lightning Round)
Nokia (NOK) (Realmoney Radio)
NovAtel (NGPS) (Lightning Round)
Parker-Hannifin (PH) ($100 target) (mentioned on Stop Trading)
Peabody Energy (BTU) (Realmoney Radio)
PetroQuest Energy (PQ) (Lightning Round)
Sasol (SSL) (Realmoney Radio)
SiRF Technology Holdings (SIRF) (Lightning Round)
Southwestern Energy (SWN) ($44 target) (Lightning Round)
Starbucks (SBUX) (Realmoney Radio)
Syngenta (SYT) (Realmoney Radio)
Texas Instruments (TXN) ($40 target) (Lightning Round)
UnitedHealth Group (UNH) (Realmoney Radio)
Vivendi Universal (V) (Realmoney Radio)
Wells Fargo (WFC) (mentioned on Stop Trading)
Wells Fargo (WFC) (Realmoney Radio)

Bearish
American Oriental Bioengineering (AOB) (Realmoney Radio)
Bookham (BKHM) (Lightning Round)
Citigroup (C) (mentioned on Stop Trading)
Fronteer Development (FRG) (Lightning Round)
Kinross Gold (KGC) (Lightning Round)
Motorola (MOT) (Realmoney Radio)
New York Times Co. (NYT) (mentioned on Stop Trading)
Nortel (NT) (Lightning Round)
Pacific Ethanol (PEIX) (Lightning Round)

Having trouble writing down all of Cramer’s picks?
Free daily recap newsletter to your inbox

Solid earnings from a number of companies, indications that the interest hike may end soon and a tech rally helped push the composite to its best close since February 2001. The tech rally boosted the Nasdaq composite to its highest close in move than five years, but had little impact on the broader market. The dampeners were the jump in Treasury yields, rising gold prices and oil at record highs.

Today, the Dow Jones industrial average closed up 14.08 to 11,282.85, the Standard & Poor’s 500 index closed up 2.37 to 1,310.02, and the Nasdaq composite index closed up 12.27 or 0.5% to 2,368.41. This is the highest level for the Nasdaq since February 2001.

Market breadth was positive. On the New York Stock Exchange, winners beat losers nine to seven on volume of 1.46 billion shares. On the Nasdaq, advancers beat decliners three to two on volume of 1.81 billion shares.

The Labor Department reported that consumer prices shot up 0.4% in March, outstripping expectations for a 0.3% gain from economists. The core rate, which removes energy and food prices, rose 0.3%, stronger than the 0.2% predicted by the market. This tempered rising expectations, however, comments from Janet Yellen, the president of the San Francisco Federal Reserve, again stressed that the central bank is nearing the end of its rate-hiking campaign.

United Technologies was the biggest percentage gainer on the blue-chip index. The share closed up $3.94 or 6.6% to $62.84. The company turned in an 18% increase in net quarterly income and lifted its 2006 forecast.

Stock of Yahoo closed up $2.24 or 7.2% to $33.54, after reporting quarterly earnings that fell from a year ago but met forecasts. The company’s profit dropped 22% due to higher expenses and employee stock-option costs. However, sales surged on growth in the Web giant’s online-advertising business.

Texas Instruments closed up $0.67 or 1.3% to $34.67, after reporting higher quarterly earnings and revenue that topped estimates. The chipmaker reported a 42% rise in net income, due to higher demand from the mobile-phone sector. Additionally, it also forecast bullish second-quarter results due to a strong demand.

Dow component International Business Machines Corp. closed down $1.57 to $81.74. The company unveiled a 22% increase in quarterly profit that beat estimates. However, it also reported quarterly revenue that fell from the prior year and met analysts’ expectations. The company has cut costs in its services business and sold its struggling personal-computer business.

Shares of Pfizer closed down $0.14 to $24.79, after announcing a drop in quarterly revenue that was short of analysts’ forecasts. That overshadowed the drugmaker’s higher quarterly earnings that beat analysts’ forecasts. The company has suffered a loss of market exclusivity on several key products.

Shares of Motorola Inc. tumbled 6.6% down $1.63 to $22.49 after the company posted earnings that fell shy of analysts’ expectations. Concern among some industry watchers over a decline in the average selling price of its phones also weighed on sentiment.

In another interesting news, shares of Vitesse Semiconductor closed down $0.62 or 20% to $2.49, after stating that it is investigating the timing and accounting of stock option grants. The chipmaker also said it is putting its CEO, CFO and an executive vice president on leave related to the investigation. Stock of Coca-Cola Co. rose 39 cents to stand at $41.69. The soft-drink giant had a 10% gain in quarterly net income, although revenue was flat. J.P. Morgan Chase & Co. added 2 cents to $42.62. The investment bank had a 35% increase in quarterly net income, although retail banking profits were hit by mortgage weakness. Honeywell Inc. reported earnings and sales that outstripped expectations on a strong performance by its aerospace group. However, the stock was down 63 cents at $43.53.

Crude-oil futures ended at a record level, above $72 a barrel, after the weekly supply data showed a drop in U.S. gasoline inventories. The benchmark U.S. light crude for May delivery jumped 82 cents to settle at $72.17 a barrel on the New York Mercantile Exchange. Oil prices have been rising steadily in recent weeks amid worries about Iran’s nuclear capability.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter

We have done our best to record the calls for you, but remember that the shows are fast moving, and sometimes Cramer bangs on the sell! sell! sell!, bull roar, train wreck, suicide jump, hallelujah chorus, backing up truck, creepy house of pain voice, machine gun, fanfare, toilet flush, all aboard, applause, cash register, bear growl, bowling pins, and submarine diving alarm buttons all at once, while he is screaming.

Please do your own research, and verify all information before acting on it. This summary of Cramer’s picks is not intended to replace watching the shows, where his comments about the stocks often include advice about entry and exit points.

Bullish
@Road (ARDI) (featured on Mad Money)
Advanced Micro Devices (AMD) (Realmoney Radio)
Alkermes (ALKS) (Lightning Round)
Altria (MO) (Lightning Round)
Astec Industries (ASTE) (Lightning Round)
Bear Stearns (BSC) (mentioned on Stop Trading)
Chicago Mercantile Exchange (CME) (Lightning Round)
Ciena (CIEN) (Lightning Round)
Ciena (CIEN) (Realmoney Radio)
Cisco Systems (CSCO) ($25 target) (Lightning Round)
Conexant (CNXT) (mentioned on Stop Trading)
Conexant (CNXT) (Realmoney Radio)
FedEx (FDX) (Lightning Round)
Finisar (FNSR) (Lightning Round)
Finisar (FNSR) (mentioned on Stop Trading)
Finisar (FNSR) (Realmoney Radio)
Foster Wheeler (FWLT) (mentioned on Stop Trading)
Gardner Denver (GDI) (Realmoney Radio)
GOL Linhas Aereas Inteligentes (GOL) (featured on Mad Money)
GOL Linhas Aereas Inteligentes (GOL) (Lightning Round)
Goldman Sachs (GS) (mentioned on Stop Trading)
Halliburton (HAL) (Realmoney Radio)
Hansen Natural (HANS) (Lightning Round)
Hewlett-Packard ((HPQ)) (Lightning Round)
JDSU (JDSU) (Lightning Round)
JDSU (JDSU) (mentioned on Stop Trading)
JDSU (JDSU) (Realmoney Radio)
JLG Industries (JLG) (Lightning Round)
Lehman (LEH) (mentioned on Stop Trading)
Lufkin Industries (LUFK) (Realmoney Radio)
McDermott (MDR) (mentioned on Stop Trading)
Nabors Industries (NBR) (Realmoney Radio)
Nokia (NOK) (Lightning Round)
Oregon Steel Mills (OS) (Realmoney Radio)
Pepsi (PEP) (Lightning Round)
Qualcomm (QCOM) (Realmoney Radio)
Terex (TEX) (Lightning Round)
Texas Instruments (TXN) (Lightning Round)
UnitedHealth’s (UNH) (mentioned on Stop Trading)
UPS (UPS) (Lightning Round)
Valero (VLO) (Realmoney Radio)
Walgreen (WAG) (Realmoney Radio)
Wheeling-Pittsburgh (WPSC) ($40 target) (featured on Mad Money)
Whole Foods (WFMI) (Lightning Round)
Yahoo! (YHOO) (Lightning Round)

Bearish
ABX Air (ABXA) (Lightning Round)
Chesapeake Energy (CHK) (Realmoney Radio)
Coca-Cola (KO) (Lightning Round)
Dell (DELL) (Lightning Round)
Intel (INTC) (Lightning Round)
Intel (INTC) (Realmoney Radio)
Martha Stewart (MSO) (Lightning Round)
Redback Networks (RBAK) (Lightning Round)
Rite Aid (RAD) (Realmoney Radio)
Sify (SIFY) (Lightning Round)
True Religion Apparel (TRLG) (Herb Greenberg on Mad Money)
Wild Oats (OATS) (Lightning Round)

Having trouble writing down all of Cramer’s picks?
Free daily recap newsletter to your inbox

Hopes of an end to the rise in short-term interest rates helped the market shrug off a spike in crude-oil prices to a record high above $71 a barrel. Markets closed after putting in their best one-day gain in a year. Stocks raced ahead on signs from the minutes of the last meeting that the Federal Reserve’s rate hiking campaign could be close to an end.

Today, the Dow Jones industrial average closed up 194.99 to 11,268.77. This is the biggest one-day point gain in nearly a year. The broader Standard & Poor’s 500 closed up 22.32 or 1.7% to 1,307.65, and the Nasdaq composite index closed up 44.98 or almost 2% to 2,356.14.

Market breadth was positive. On the New York Stock Exchange, winners topped losers by nearly four to one on volume of 1.84 billion shares. On the Nasdaq, advancers topped decliners seven to three as 2.25 billion shares exchanged hands.

Market gains accelerated after the release of the minutes of the March meeting of the Federal Open Market Committee, the Fed’s interest-rate setting body. It clearly brought out that most members thought that the end of the tightening process was likely to be near and some also expressed concerns about the dangers of tightening too much, given the lags in the effects of policy. Investors have been worrying that rising inflationary pressure could cause the central bank to boost short-term interest rates for longer than had been previously expected. This is a welcome fundamental positive for the stock market.

It is apparent that the market is ignoring the price of oil, Iran and the price of gold at the moment. Investors are focusing on the good and ignoring the bad. In the federal funds futures market, investors were pricing in a 28% chance of a rate hike in June, down from 54% earlier. Positives include expectation that inflation would remain well contained, energy prices to stabilize, and moderation in house prices.

In data news, the latest Producer Price Index showed a larger-than-expected 0.5% gain last month due mainly to rising gas prices. However, a 0.1% increase in core inflation, which excludes food and energy prices, was smaller than the 0.2% gain expected by economists. Investors breathed a big sigh of relief on the encouraging reading on wholesale prices, but soaring energy prices and a tight labor market remain inflation risks. According to the Commerce Department, housing starts fell 7.8% in March. The decline was larger than expected and shows a weakening housing market.

Shares of Micron Technology soared 6%, up $0.91 to $16.03, after J.P. Morgan upgraded the stock. This was one of the many chip stocks that rose and took the Philadelphia Semiconductor Index to close up 17.02 or 3.4% to 517.46. Stock of Merrill Lynch closed up $0.92 to $79.38, after the company reported higher-than-expected quarterly earnings. While the company reported that first-quarter net income slipped 61% on a previously announced charge to account for stock options paid as compensation to employees, it reported a record $8 billion in quarterly revenue. Stock of Boston Scientific closed up $0.26 to $21.74, as it is expecting to complete its purchase of Guidant this week.

Johnson & Johnson closed up $0.48 to $58.13, after reporting higher first-quarter earnings. The sales of medical devices and a break up fee from its failed attempt to buy Guidant offset weaker prescription drug sales. The revenue fell slightly shy of Wall Street estimates, due largely to a drop in sales at its pharmaceutical division

U.S. light crude for May delivery rose 95 cents to $71.35 a barrel on the New York Mercantile Exchange, after reaching an intraday record of $71.60. Oil prices have been rising steadily in recent weeks amid worries about Iran’s nuclear capability.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter

We have done our best to record the calls for you, but remember that the shows are fast moving, and sometimes Cramer bangs on the sell! sell! sell!, bull roar, train wreck, suicide jump, hallelujah chorus, backing up truck, creepy house of pain voice, machine gun, fanfare, toilet flush, all aboard, applause, cash register, bear growl, bowling pins, and submarine diving alarm buttons all at once, while he is screaming.

Please do your own research, and verify all information before acting on it. This summary of Cramer’s picks is not intended to replace watching the shows, where his comments about the stocks often include advice about entry and exit points.

(Today’s Mad Money calls were first aired on Feb. 21, 2006)

Bullish
ABB (ABB) (featured on Mad Money)
Alcan (AL) (featured on Mad Money)
Ameritrade (AMTD) (Realmoney Radio)
BHP Billiton (BHP) (Magnificent Six on Mad Money)
Cameco (CCJ) (featured on Mad Money)
Caterpillar (CAT) (Magnificent Six on Mad Money)
E*Trade (ET) (Realmoney Radio)
Freeport-McMoRan (FCX) (Magnificent Six on Mad Money)
Grey Wolf (GW) ($7 to $10 target) (Realmoney Radio)
Joy Global (JOYG) (featured on Mad Money)
Life Time Fitness (LTM) (Realmoney Radio)
Manitowoc (MTW) (Magnificent Six on Mad Money)
Nabors International (NBR) (Realmoney Radio)
Occidental Petroleum (OXY) (Realmoney Radio)
Oregon Steel (OS) (Realmoney Radio)
Phelps Dodge (PD) (featured on Mad Money)
Rio Tinto (RTP) (Magnificent Six on Mad Money)
Southern Copper (PCU) (featured on Mad Money)
Terex (TEX) (Magnificent Six on Mad Money)
Valero (VLO) (Realmoney Radio)
Vice Fund (VICEX) (Realmoney Radio)

Having trouble writing down all of Cramer’s picks?
Free daily recap newsletter to your inbox

Oil prices topped $70 a barrel and this raised concerns about high energy costs fueling inflation and hurting corporate profits. The rise in other commodities such as gold and silver overshadowed strong quarterly results from Citigroup Inc. This unsettled investors ahead of a busy week and has the S&P 500 and the Dow Jones Industrial Average fall to their worst levels in more than a month.

Today, the Dow Jones industrial average closed down 63.87 or 0.6% to 11,073.78, the broader Standard & Poor’s 500 closed down 3.79 or 0.3% to 1,285.33, and the tech heavy Nasdaq composite closed down 14.95 or 0.6% to 2,311.16.

Market breadth was negative. On the New York Stock Exchange, losers topped winners nine to seven on volume of 1.27 billion shares. On the Nasdaq, decliners beat advancers by close to 17 to 12 on volume of roughly 1.81 billion shares.

The rise in oil and gold prices weighed on market sentiment, reviving fears about inflation and its impact on the Fed’s interest-rate hiking campaign. Additionally, Moskow, president of the Federal Reserve Bank of Chicago, said inflation is near the “upper end of the range” and that he feels is “consistent with price stability. “While interest rates remains an issue, it is apparent that earnings projections will be critical to the market’s ability to move higher.

In data news, the Empire State Manufacturing index fell to 15.8 in April from a revised 29.0 in March. Economists had been expecting the index to fall to 24.5 from the initial estimate last month of 31.2. The U.S. housing market index fell to 50 in April, the lowest level since the recession ended in November 2001. This indicates builders’ views about the market is evenly balanced between good and bad. On a more positive note, net foreign capital inflows into the U.S. increased to $86.9 billion in February. This can sooth the worry that foreigners are backing away from U.S. instruments.

It is opined that earnings may not prove much of a catalyst going forward. Investors will also be eyeing the March readings on consumer prices and housing starts and building permits.

Amongst the losers today included Advanced Micro Devices that lost $1.20 to $30.60, Broadcom closed down $1.43 to $42.68, and Intel closed down $0.26 to $19.19. General Motors closed down $0.36 to $20.04, General Electric lost $0.60 to $33.29, Home Depot closed down $0.74 to $40.38, and Hewlett Packard closed down $0.59 to $32.03.

Citigroup closed up 30 cents at $48.35. The banking giant’s first-quarter net income rose 4% on strong results in its global consumer banking and corporate investment banking operations that beat analysts’ forecasts. The bank also announced a new share-buyback program totaling $10 billion.

Shares of Charles Schwab Corp. closed down 1.4% at $17.34. The discount brokerage reported first-quarter earnings in line with analyst expectations, as client trading grew in response to rising markets and fees grew off a higher asset base. However, this did not meet market expectations.

Stock of Halliburton rose 2.4% to $78.96. Its KBR Inc. subsidiary has filed to raise up to $550 million through an initial public offering of stock. This has had a positive impact on the stock. Strong quarterly earnings from Eaton Corp. also boosted sentiment.

TiVo closed up $0.60 over 7% to $8.65, after the financial weekly Barron’s said the maker of digital video recorders could be a candidate for takeover. This is likely to have a continued positive effect

U.S. light crude oil for May delivery rose $1.08 to settle at $70.40 a barrel on the New York Mercantile Exchange. Oil prices have been rising steadily over the last week or two amid worries about Iran’s nuclear capability.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter

We have done our best to record the calls for you, but remember that the shows are fast moving, and sometimes Cramer bangs on the sell! sell! sell!, bull roar, train wreck, suicide jump, hallelujah chorus, backing up truck, creepy house of pain voice, machine gun, fanfare, toilet flush, all aboard, applause, cash register, bear growl, bowling pins, and submarine diving alarm buttons all at once, while he is screaming.

Please do your own research, and verify all information before acting on it. This summary of Cramer’s picks is not intended to replace watching the shows, where his comments about the stocks often include advice about entry and exit points.

BullishAlcan (AL) Advanced Micro Devices (AMD) (featured on Mad Money)
Advanced Micro Devices (AMD) (mentioned on Stop Trading)
Alcan (AL) (mentioned on Stop Trading)
CarMax (KMX) (Lightning Round)
Charming Shoppes (CHRS) ($18 target) (Lightning Round)
Chartered Semiconductor (CHRT) (Lightning Round)
Cheseapake (CHK) (Realmoney Radio)
Cisco (CSCO) (mentioned on Stop Trading)
Citrix (CTXS) (mentioned on Stop Trading)
Coach (COH) (Lightning Round)
Copart (CPRT) (Lightning Round)
Crystallex (KRY) (Lightning Round)
Crystallex (KRY) (Realmoney Radio)
Energy Partners (EPL) (featured on Mad Money)
GameStop (GME) (Realmoney Radio)
JDSU (JDSU) (mentioned on Stop Trading)
Johnson & Johnson (JNJ) (Realmoney Radio)
LifeCell (LIFC) (Lightning Round)
Matsushita Electric (MC) (Lightning Round)
Network Appliance (NTAP) (mentioned on Stop Trading)
Northern Orion Resources (NTO) (Lightning Round)
Northgate Minerals (NXG) (Lightning Round)
Occidental Petroleum (OXY) (featured on Mad Money)
Occidental Petroleum (OXY) (Lightning Round)
Patterson-UTI (PTEN) (Realmoney Radio)
PerkinElmer (PKI) (Lightning Round)
Procter & Gamble (PG) (Realmoney Radio)
Schering-Plough (SGP) (Lightning Round)
Starbucks (SBUX) (Lightning Round)
Texas Roadhouse (TXRH) (Realmoney Radio)
Titanium Metals (TIE) (Realmoney Radio)
VeriFone Holdings (PAY) (CEO interview on Mad Money)
Zoltek (ZOLT) (Realmoney Radio)

Bearish
Alcoa (AA) (mentioned on Stop Trading)
Boston Scientific (BSX) (mentioned on Stop Trading)
Chevron (CVX) (Lightning Round)
Intel (INTC) (featured on Mad Money)
Intel (INTC) (mentioned on Stop Trading)
Sirius Satellite Radio (SIRI) (Lightning Round)
Sony (SNE) (Lightning Round)

Having trouble writing down all of Cramer’s picks?
Free daily recap newsletter to your inbox