The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
The New York City police officer who used a chokehold on Eric Garner in an encounter that ended with Garner's death has been fired, New York City Police Commissioner James...Politicsread more
The president said the Fed has been hampered by a "horrendous lack of vision" and said it should institute 100 basis points worth of reductions in its benchmark rate.Marketsread more
"I think if yields roll over and start slipping, we may see renewed pressure on stocks," UBS' Art Cashin says.Marketsread more
These are the stocks posting the largest moves midday.Market Insiderread more
What will the nasty forces in this market do to you next? The magnificent seven may help you fight back.
Oh wait, we're not talking gunslingers.
By magnificent seven Cramer means the seven stocks have defied the broad market weakness and surged to new highs during this earnings period.
They are Under Armour, Netflix, Wynn, Facebook, Google, Chipotle, and Michael Kors.
In addition to rallying, Cramer says these stocks share some common themes. They all delivered better earnings, better sales and better guidance. In this environment of uncertainty, Cramer says the Street will reward nothing less.
Therefore, if and when the market turns lower – and Cramer does believe there's more selling to come – he suggests putting money to work in the stocks listed above. "In the event of a snapback rally, I think these stocks will be the new leaders."
Following are Cramer's insights on each of the magnificent seven stocks:
Under Armour: Cramer said that investors were cautious about Under Armour results, considering many retailers have not performed well this earnings season. Yet, "Under Armour delivered earnings and sales that were substantially in excess of even what the most bullish analyst was looking for," Cramer said. "Plus the company's expanding internationally, aggressively in China by the way, with a management team that makes the Seahawks look like sissies with their take no prisoners attitude." That should drive shares for some time to come.
Netflix: "Going into the quarter there were outrageous expectations for new sign-ups, and talk of Netflix actually losing money, " Cramer said. "So when Netflix reported sign-ups growing at an accelerated rate and guided up from there, the short-sellers betting against the company had no case. That meant they had to buy the stock back, just a total spoiled short. There wasn't a thing wrong with the quarter. Nothing." As Cramer so often says, although the multiple is big, the opportunity is bigger.
Wynn: Cramer said the Street was worried about how China might impact the bottom line at Wynn. "But Wynn blew estimates out of the water with huge Macau numbers. How many? Enough for Wynn to announce some huge expansion plans." Cramer believes that China is the big x-factor in the market and any company that can leverage the opportunity should be looking at considerable upside.
Facebook: Cramer thinks Facebook is an example of a company leveraging social, mobile cloud and connectivity. "They substantially beat earnings and sales estimates, guided well beyond levels thought possible, and explained that there's accelerating revenue growth to come from the implementation of a bunch of new programs that both advertisers and users love." Cramer thinks that's a recipe for higher share price.
Read More from Mad Money with Jim Cramer
Cramer: 10 things to know about selloff
Industrial nears inflection point
Hot sauce or not, this stock's got kick
Google: Cramer sees Google as another company leveraging social, mobile, cloud and connectivity. "After this last quarter, I think Google can write its own ticket," Cramer said.
Chipotle: Cramer thinks Chipotle has a long runway due to its ability to leverage two trends, the migration toward healthier eating and the Street's insatiable desire for growth. "Chipotle reported that it had 9.3% comparable store sales growth. When I saw it I thought it was a typo. Accelerating same store sales growth—no other restaurant I follow had such a thing."
Michael Kors: This stock is an example where the numbers speak for themselves. "We thought that handbags and accessories were losers this holiday season. We thought high priced handbags like those made by Michael Kors were a shrinking category. But you can't produce 24% same store sales growth in the U.S. and 73% in Europe unless you're executing brilliantly, and KORS most certainly did. "
Call Cramer: 1-800-743-CNBC
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the "Mad Money" website? email@example.com