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Investment

Cramer Remix: The jig is up! Signs that US oil producers could be slowing down

Despite the extended pullback in the crude oil space, Schlumberger’s conference call gave Jim Cramer some renewed hope that things could be looking up for the sector.

“First, [CEO Paal Kibsgaard] feels that there’s genuine restraint among Russia and Saudi Arabia, those are the two most important worldwide producers. Second, he explains that in the rest of world, producers have so dramatically under-invested in the last three years that it will take some time for them to ramp back up as their current fields deplete, leading, perhaps, to more constrained supply and higher prices,” the “Mad Money” host said. “But third, and most important in what was an amazing discourse, he said the United States, which only accounts for 8 percent of the global production, is finally beginning to show some rational behavior.”

The CEO pointed out that Wall Street, which once was eager to fund deals in the space, has backed off given the widespread declines in oil prices.

“Kibsgaard, in other words, thinks the jig is almost up and that producers who exceed their cash flow will be cut off. If that’s the case, if the U.S. spigot finally slows down, then oil can indeed start to go higher,” Cramer said.

During one of the most jam-packed weeks of earnings season, Cramer expects the stock market’s fluctuations to continue as companies’ quarterly results roll in.

“The distortions caused by all these earnings coming at once are immense, so, if you’re listening to me, CFOs and CEOs, please, you need to rethink when you report. You can do it earlier, you can do it later, anything but this week. You’re not going to get the right prices for your stock,” the “Mad Money” host said.

With nearly 200 of the S&P 500’s companies set to report, Cramer went over the tidal wave of stocks and events on his radar this week, including earnings from Facebook and Amazon, as well as a key meeting at the Federal Reserve.

The rapidly growing “stay-at-home economy” lends itself to online gaming, and Hasbro CEO Brian Goldner said that his company is no stranger to the millions of players joining the trend.

“Both ‘Magic: The Gathering’ and ‘Dungeons & Dragons’ are on our Twitch programming,” Goldner told Cramer on Monday, referring to a popular online platform meant for live-streaming gameplay. “About a million people a month are watching Magic tournaments online.”

Goldner said that the “Dungeons & Dragons” brand has seen a “resurgence,” with millions of viewers tuning in to Hasbro’s specialty Twitch channel for the fantasy role-playing game.

Despite a fairly light second quarter for Hasbro, the rekindled interest could have been caused in part by Netflix’s nostalgic, 1980s-set hit drama “Stranger Things,” in which the characters play “Dungeons & Dragons.”

As Washington lawmakers wrestle over health care, Nucor CEO John Ferriola sees a much more pressing issue at hand that affects more than just his steel-producing company.

“There’s no doubt we’re in a trade war. We are losing that trade war. It is time to take action to support the American industry and the American people. And beyond just the steel industry, we’re talking manufacturing as a whole,” Ferriola told Cramer on Monday. “Steel is the bedrock of manufacturing. Manufacturing is the bedrock of any strong economy.”

Ferriola said that because foreign competitors are motivated not by profits, but by employment, those countries are effectively trying to “export their unemployment” to the United States steel industry, hurting companies doing business stateside.

Finally, Cramer compared two luxury furniture companies, RH and Ethan Allen, to see how they stacked up against each other in a fairly competitive environment.

Shares of RH, formerly known as Restoration Hardware, have rallied over 145 percent in 2017, while Ethan Allen’s stock has declined more than 15 percent since the beginning of the year.

“Obviously, the stock of RH is taking Ethan Allen to the cleaners” on the surface, Cramer said, but on a closer look, he discovered several problems with RH that could plague future earnings.

Not only has RH’s stock traded wildly in the last several years, but the company has conducted two major buybacks to bring its share price up after some major declines. Moreover, the company could face expensive refinancing efforts and high-interest payoffs in the coming years.

Meanwhile, Ethan Allen’s management has struggled to turn its own business around, cutting costs here and there to no avail.

“Here’s the problem, though: while Ethan Allen’s stock has been slammed and RH has roared higher, I can’t bring myself to recommend either,” Cramer said. “While RH has performed a lot better than Ethan Allen’s stock this year, both companies seem to be in a less than ideal situation. We don’t really know if either one can deliver on a turnaround, and until we got some proof, my take? Stay on the sidelines.”

In Cramer’s lightning round, he rattled off his take on some callers’ favorite stocks, including:

NXP Semiconductors: “OK, my charitable trust owns NXP and we are urging people not to tender to the bid from Qualcomm, because Qualcomm should pay more given that the comparative stocks in that sector are much higher. And we know Qualcomm needs it, too, because they’re in a little bit of a tussle there with Apple.”

Xerox Corp: “You know, I don’t like those reverse splits because they tend to make stocks look a little better than they are, but I will say this: It did catch an upgrade today that I thought was pretty cogent, so I would hold on to it for a little bit. I don’t think that there’s great momentum there.”

Disclosure: Cramer’s charitable trust owns shares of Schlumberger, Facebook, NXP Semiconductors and Apple.

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Cramer Remix: The jig is up! Signs that US oil producers could be slowing down

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