The Coming Week’s Game Plan: Blood, Tech and Jeers
While many investors look forward to the weekend, Cramer already is focused on next week. Read on for his stock-by-stock game plan for the next five trading sessions.
The long-awaited – for Cramer, anyway – American Society of Hematology conference runs Saturday through Tuesday, and a number of companies will give presentations: Celgene , Onyx Pharmaceuticals , Allos Therapeutics and Immunogen , among them.
Cramer expects Celgene to offer positive data on its key blood-cancer drug Revlimid, specifically its capacity to treat multiple myeloma. Onyx should give – count ‘em – 15 solid presentations. Allos will launch Folotyn, its treatment for T-cell lymphoma. And Immunogen plans to highlight three products using its Targeted Antibody Payload technology. Cramer said he’s bullish on all four stocks, with CELG being the most conservative and IMGN the most speculative.
Beyond the hematology conference there’s little in the way of earnings news. But Cramer said he’d be watching Ciena on Thursday. The company’s mired in a battle for Nortel Networks global optical networking and carrier Ethernet business, and it’s been killing the stock. But Ciena should set the record straight when it reports.
Lastly, Dollar General will announce numbers on Thursday, too. Private-equity giant KKR recently took the stock public at $21, and DG closed today at $23.85. But the deal was underwritten by Goldman Sachs, which Cramer had jeered for mishandling Dole’s IPO. Goldman priced the offering in favor of the seller, again KKR, and he fears the same thing happened with DG. He recommended selling Dollar General ahead of the quarter, saying the gains had been made.
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