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Cramer Remix: The health-care defeat can be a blessing for Wall Street

The bears might say otherwise, but Jim Cramer does not think that the failure of the GOP's Obamacare replacement bill signals the end of the bull rally.

Instead, the "Mad Money" host argued that this legislative blemish might actually clear the way for President Donald Trump's more popular initiatives like tax and infrastructure reform.

"If we get a delayed pullback on Monday as people worry that losing on health care means the rest of the president's agenda is doomed to fail, I think you should use that as a chance to buy some stocks like the industrials that would benefit from tax cuts, or the banks that benefit from deregulation and higher interest rates," Cramer said.

President Donald Trump talks to journalist at the Oval Office of the White House after the AHCA health care bill was pulled before a vote, accompanied by U.S. Health and Human Services Secretary Tom Price (L) and Vice President Mike Pence, in Washington, U.S., March 24, 2017.
Carlos Barria | Reuters
President Donald Trump talks to journalist at the Oval Office of the White House after the AHCA health care bill was pulled before a vote, accompanied by U.S. Health and Human Services Secretary Tom Price (L) and Vice President Mike Pence, in Washington, U.S., March 24, 2017.

As the bull market rages on these renewed hopes, here are the stocks and events on Cramer's radar next week:

Cramer thinks Monday's earnings report for Red Hat could make an interesting play if the market does not take lightly to worries about the fate of the Trump agenda.

Tuesday welcomes a flurry of earnings from Carnival Cruise Line, Darden, and Dave & Buster's.

"[Carnival] has performed so strongly under [CEO Arnold Donald's] leadership that you have to like its chances for an upside surprise, especially with this recent dip in oil prices," Cramer said.

Cramer is looking forward to a good hiring report from payroll processor Paychex on Wednesday, and thinks you should stay long and buy more if the stock comes down.

"I know the end-of-the-worlders constantly surface on any perceived weakness in the Trump administration, but the fact is that we have a ton of data and CEO commentary that suggests small and medium sized businesses are doing quite well and hiring new workers," Cramer said.

Lululemon Athletica will report earnings after Wednesday's closing bell, and Cramer likes the story for the athletic apparel maker, which he thinks is "more of an ethos that happens to sell clothes."

A key analyst meeting at Akamai may bring good tidings for the cloud services provider, which has been an erratic play as of late.

And Cramer is amazed there's still hope for Blackberry, which is set to report earnings Friday.

"The company's promotional enough that the first trade often produces a jump. But that jump's been worth shorting ever since the iPhone took over the smartphone universe, so just say no to Blackberry," Cramer said.

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Janie Airey | Cultura RM | Getty Images

In the meantime, Cramer has been on the lookout for non-Trump bull markets, and recently he realized that one has been hiding in plain sight: the dental industry.

"The dental stocks have been quietly riding three big secular trends — an aging population, the need for most cosmetic dentistry in the age of the selfie, and the rise of the middle class in emerging markets," Cramer said.

And where there are strong secular trends like these, there are also beneficiaries. Cramer's top dental plays — Align Technology, Henry Schein, and Dentsply Sirona — have all outperformed major averages so far this year.

Cramer also examined Micron's boom and bust cycle, which has seen extreme highs and some not-so-favorable lows.

"There are distinct positives to this cycle, including Apple's upcoming iPhone 8 that might devour a lot of flash supply that's not due until later in the year," he said.

But nothing's trickier than a volatile stock like that of this semiconductor maker, which has an array of different customers it relies on for business.

"But at the moment," Cramer said. "I think that Micron, or MOO, as we call it, is still in raging bull mode and you're free to buy it until we get much closer to that one incremental chip that sends it over the peak and back down into oblivion."

Boxed CEO Chieh Huang.
Jen Zweben | CNBC
Boxed CEO Chieh Huang.

Cramer spoke with Boxed CEO Chieh Huang, who said his privately-held online bulk retailer brings more to the table than its competitors.

"All these retailers these days are under pressure. Why? It's because … for the last 30 years, value equaled price. But now, value equals price, convenience, and a little bit of brand. And so that's what we bring to the equation," Huang told Cramer on Friday.

Boxed has seen its sales skyrocket in recent years, from $8 million in 2014 to $100 million in 2016. Huang attributed the jump in part to a booming number of millennials that have grown up with the e-commerce model.

Cramer also sat down with Apple Hospitality Trust CEO Justin Knight on Friday for a different take on the real estate investment trust industry.

Apple Hospitality's portfolio consists of 236 Hilton- and Marriott-branded hotels in 33 states, and Knight said that the company's lukewarm guidance, which was knocked by analysts at Canaccord Genuity, was simply playing it safe.

"We've always felt that it's better to under-promise than overperform. What they would like to see us do is more transactions. There may be opportunity depending on the environment. But in the meantime, 6 and a half percent return we feel very comfortable about maintaining," the CEO said.

Knight added that Apple Hospitality has time on their side.

"Our hotels have been renovated and/or built within the last four years. Compared to the average REIT, it makes us … significantly younger, which is more relevant with consumers," he said.

In Cramer's lightning round, he shared his take on two caller stock picks:

Sirius XM Holdings: "Somebody downgraded that this week and I felt like, what, are you kidding me? That is a great long term situation. Sirius Satellite is terrific. I still think Apple should buy them, but I know that … it's more likely that Apple Hospitality should buy them than Apple."

Marriott International: "Hold or sell? Why not buy? I think Marriott's got it good. I'd buy a little here and then let it come down."

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