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Cramer's week ahead: The market can go higher with Uber's IPO, tariffs behind us

Key Points
  • "Now that we've made it to the other side, we can finally start talking about earnings and interest rates again, not just tariffs and the Uber deal," CNBC's Jim Cramer says.
  • "And I bet that means the market will attempt to stabilize at these new lower but oversold levels," the "Mad Money" host says.
  • "If you have to own a pot stock, please take a pass on Tilray and go for Canopy, especially after the big run Tilray had today," he says.
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Market can go higher with Uber IPO, tariffs behind us

Hell week culminated with Uber's "total thud" of a debut and an increase of tariffs on products shipped from China, which was the last thing that markets wanted to see, CNBC's Jim Cramer said Friday.

Many investors thought the ride-hailing company, in the most anticipated IPO of the year, would make a red-hot debut on the New York Stock Exchange, but the share price fluttered to about a $41 close after raising more than $8 billion on its $45 offering price.

In broader trading, U.S. equities rebounded after initially selling off when tariffs on Chinese imports were hiked to 25% from 10%. The Dow Jones Industrial Average climbed 114 points, the gained 0.37% and the Nasdaq Composite rose 0.8%.

"We made it through hell week," the "Mad Money" host said. "And now that we've made it to the other side, we can finally start talking about earnings and interest rates again, not just tariffs and the Uber deal. And I bet that means the market will attempt to stabilize at these new lower but oversold levels."

Here's what Cramer's looking forward to in the week ahead:

Monday: Take-Two Interactive

Take-Two Interactive: Take-Two Interactive Software reports earnings after the bell. The Rockstar Games and 2K Sports parent, who holds the Grand Theft Auto and NBA 2K franchises under its umbrella, has been delivering good numbers lately, Cramer said.

"Take-Two doesn't have a big battle royale game like EA, but they've got a great stable of franchises," he said. "CEO Strauss Zelnick has a history of practicing 'UPOD.' Yes, under promise and over delivering. I bet this stock pops."

Tuesday: Ralph Lauren, Cyberark, Tilray

Ralph Lauren: The luxury fashion label is out with its quarterly report before the market opens, and Cramer expects the quarter to be as good as the one prior.

"CEO Patrice Louvet has done a remarkable job here working hand in hand with the great Ralph Lauren, himself, to offer a more focused lineup of products while also pruning the less profitable stores," Cramer said.

Cyberark: The information security company has an earnings call in the morning. The cybersecurity sector has run into some recent weakness, and Cramer said it's a good time to do some shopping in the space because the industry theme is still solid. Symantec is one stock to load up on on Monday, he said.

"I'd also be a buyer of CyberArk's stock," said Cramer, who has faith in CEO Udi Mokady.

Tilray: At the end of stock trading, Tilray presents its latest financial results. Canopy, however, is the cannabis company that Cramer prefers.

"If you have to own a pot stock, please take a pass on Tilray and go for Canopy, especially after the big run Tilray had today," he said.

Wednesday: Alibaba,

Alibaba: Alibaba gives its quarterly report before the bell. Cramer doesn't like to recommend Chinese stocks because their financials differ from that of American companies. Alibaba, the Amazon of China, is one exception, he said.

"I think Alibaba will put up some terrific numbers, because the Chinese government is spending a fortune to stimulate their economy and spur domestic consumption," Cramer said.

Macy's: The department chain giant, which dates back to the antebellum, will announce earnings in the morning. Wall Street was disappointed by Macy's prior quarter, and the stock is inexpensive with a 6.7% yield, Cramer said.

"Because we had bad weather in the first quarter, even if Macy's surprises to the upside, I doubt it will be much of a beat," he said. "Still, that monster dividend gives you a lot of protection."

Cisco Systems: Cisco will relay its quarterly report to shareholders after the bell. Cramer said he is concerned that neither the company or stock can perform any better than it already has, which can bring pressure. The equity has run nearly 23% in 2019, and the host has trimmed some from his ActionAlertsPlus.com charity trust.

"We are letting the rest run, though, because I'm a big believer in Cisco's transformation from a hardware company into more of a hardware and software and security company," Cramer said.

Thursday: Walmart, Nivida, Pinterest, Deere

Walmart: Walmart will report its latest earnings report before the bell. The big box retail giant has gone through an "amazing" transformation, offering low grocery prices and improving the shopping experience, Cramer said. It's prices are giving Amazon a run for its money, he added.

"More important, the stores are clean and fresh and the employees actually seem like they're liking working there, which is something that happens when you give a raise," Cramer said.

Nvidia: Nvidia reports earnings after markets close. Cramer has reloaded on shares now that the semiconductor company is doubling down on the data center in its bid for Mellanox and supplying top-of-the-line gaming and self-driving chips.

"I know it's already bounced a lot from its lows, but I think you can buy some before the quarter and buy some more after," Cramer said.

CEO Jensen Huang is on the schedule for a one-on-one interview with the "Mad Money" host Thursday.

Pinterest: Pinterest is out with its first quarterly report since going public last month.

"Pinterest is absurdly expensive," Cramer said. "But given the dearth of social media plays, the valuation could turn out to be justified when it reports this day."

Friday: Deere

Deere: Deere will release its latest earnings report before the market opens. Cramer said he thought about the John Deere agriculture equipment brand when President Donald Trump promised to help farmers that will be impacted by the tariff hike on Chinese imports.

"Before the government starts bailing out our farmers, the Chinese have to target them with retaliatory tariffs," Cramer said. "So I say let's wait before pulling the trigger on this one."

WATCH: Cramer delivers his game plan for next week

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Cramer's week ahead: The market can go higher with Uber's IPO, tariffs behind us

Disclosure: Cramer's charitable trust owns shares of Amazon, Nvidia, and Cisco Systems.

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