What Is Driving This Week's Earnings?

The consumer is spending, Cramer said during Wednesday’s Stop Trading!, and a number of earnings reports this week prove it.

Williams-Sonoma, Phillips-Van Heusen and Darden Restaurants all pre-announced better-than-expected quarterly numbers and then announced results that were even better than that.

“That’s all consumer,” Cramer said. “A lot of it is a telegraph that March is going to be quite good.”

Stop Trading, Listen to Cramer!
Stop Trading, Listen to Cramer!   

The Mad Money host also revisited two IPOs that hit the market today, MaxLinear and Calix . The first, MXL, has already passed his $18.55 target price, so he recommended taking profits if you own the stock. But Calix “still has room to run,” Cramer said, because it hasn’t yet reached his target price of $18.50.

Lastly, Cramer said he was “very impressed” with Lennar ’s earnings report, and specifically mentioned how the company pushed through price increases in hard-hit California. He saw at least some linkage with Bank of America’s new loan-modification plan, which was designed to help reduce the principle on troubled mortgages. While some have called BAC’s announcement a publicity stunt, Cramer said, he disagreed.

“I think that anything that lowers principle is of real value,” he said.

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