CNBC's Jim Cramer took a look at the week ahead of earnings reports, giving his thoughts on the stocks of Lyft, CVS, Expedia Group and more. The "Mad Money" host broke down Casper Sleep's initial public offering and what it means for the broader market. Later in the show, he sat down with Taylor Morrison CEO Sheryl Palmer to get insight into the housing market and discuss diversity in corporate America.

CNBC's Jim Cramer was befuddled to see how good economic data was overridden on the market by uncertainty around the coronavirus outbreak.

Wall Street found out Friday that the U.S. business community created more jobs than economists projected — 225,000 new hires compared to the 158,000 that was forecast — but investors traded stocks on worries about the coronavirus' potential impact on the financial world and a probable slowing global economy.

The Dow Jones Industrial Average dropped 277 points, while the S&P 500 and Nasdaq Composite both declined 0.54% during the trading day.

"As much as I want to focus on the earnings next week, keep in mind that this epidemic can steal the spotlight at any given time, like it did today in spite of a phenomenal, terrific jobs report," Cramer said on "Mad Money."

Investors showed discipline around the IPO of Casper Sleep, and that is a good sign for the market, according to Cramer.

"I'm glad that there's little appetite for something like Casper," the host said. "That tells you this red-hot market still has discerning taste, that investors still have a healthy dose of skepticism. That's what you need if a market's only going to continue to go higher."

Corporate America would make great business strides if employers put more effort into making their workforce include women and "true diversity," Sheryl Palmer, CEO of the country's fifth-largest homebuilder, Taylor Morrison, told CNBC.

The comments came one day after a Wall Street Journal report found that just 6% of the 3,000 largest companies in the United States were led by a woman. The data, however, are more bleak for nonwhite women.

"The benefit of our organization is that we have different people thinking about the same problem differently," Palmer said in a "Mad Money" interview. "It gets us to a better place, and that's what corporate America is missing today."

In Cramer's lightning round, the "Mad Money" host ran through his thoughts about callers' favorite stock picks of the day in rapid speed.

General Electric: This stock is going to return soon.

Abiomed: "I don't know. It was on fire and then it just kind of collapsed, and that's why I'm sending people to Edwards Life Sciences."

Disclosure: Cramer's charitable trust owns shares of General Electric.

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