To Jim Cramer, FMC Corporation's deal with DuPont to trade a large portion of DuPont's (NYSE: DD) crop protection business for FMC's (NYSE: FMC) health and nutrition branch means that FMC is about to become a major player in the agriculture space.
"Pretty much overnight, FMC's going to become a powerhouse in this amazing agricultural chemical space — it will be the world's fifth largest crop protection play after this deal closes, and there's such a scarcity of these companies out there" the " Mad Money " host said.
Now that FMC's tapped out of what Cramer called the "not-so-exciting health and nutrition game," it has become more of a pure play in a recovering industry with a cleaner balance sheet than when it started.
"Until last Friday, FMC was a small fish in the crop protection space, but with the purchase of some of the crown jewels of DuPont's [agriculture] business, it's about to get much, much bigger," Cramer said.
"Even though FMC's stock has already roared here, I bet it's got a lot more room to run, and that's without even factoring in the spin-off of its sexy lithium business somewhere down the road," he added.
Meanwhile, luxury automaker Ferrari (NASDAQ: GSM) has been revving its engines over the past 14 months, seeing its stock double and climb to all-time highs, but Cramer admits he may have missed the ride.
"Ferrari is in terrific shape and it's very well run, but I worry that the easy money has already been made here. So, for the moment, I'm staying on the sidelines with this one, regretting that I missed it," he said.
So as analysts race to give RACE the upgrades and price targets the rising stock seems to have warranted, Cramer's big problem with Ferrari's stock is that it is expensive, trading at about 31 times 2018 earnings estimates.
"The stock of Ferrari is like driving an actual Ferrari — it's really pricey and you need to be in love with risk to justify buying it," Cramer said.
After an extraordinarily strong first quarter for the major averages, Cramer says Wall Street is ready for some profit-taking .
"At the very least, we should probably give back some of these big gains, particularly the ones that to me seem artificial, meaning they were created by motivated buyers who moved the stocks themselves in order to enhance their first quarter performance," the " Mad Money " host said.
Cramer's top five names for the second quarter are all first-quarter winners, the top performers in the S&P 500 (INDEX: .SPX) that should continue their ascents barring any major crises along the way.
The most actionable of all was video game maker Activision Blizzard (NASDAQ: ATVI), creator of the popular Call of Duty franchise and an integral name to own in the age of the stay-at-home economy.
"Of all the winners so far, I think this is the one that you can buy right here, right now, and then hopefully buy even more of on a pullback," Cramer said.
But even as stay-at-home and e-commerce stocks thrive, Cramer noticed names like Marriott, Wyndham, CBS, and 21st Century Fox staying afloat as their executives buy back stock not because they are saving face, but because they believe in their continued success, Cramer said.
Despite the rise of names like Airbnb in the hotel space, more traditional hotel chains are not suffering.
"Turns out that Airbnb, as successful as it is, can't possibly meet the incredible amount of demand and it isn't nearly as big a threat as the marketplace thought it was," Cramer said.
And social media did not wreak as much havoc on television as the bears may have thought, with only Google and Facebook wielding the power that would be needed to put a dent in networks like Fox and CBS.
"After all, the CEOs see the actual order books, they know the numbers, and with both television and hotels, you'd have done much better to listen to them rather than the short-sellers. In fact, these could be terrific places to go if we get the drift lower that I am expecting right into earnings season," Cramer said.
Finally, Cramer took a look at the stock of Chipotle , which he sees is on the brink of a turnaround since its 2015 E. coli scare.
"I've been saying the same thing over and over and over and over and over again: that restaurant chains can and do come back from these health scares, but according to history, it takes about eighteen months for the numbers to turn around," he said.
With improving same-store sales, better guidance, and its largest-ever ad campaign slated for April, Chipotle looks like it has cleared the threshold of public consciousness and is poised to regain its former glory.
In Cramer's lightning round , he rattled off his take on caller favorite stocks:
Verizon Wireless (NYSE: VZ): "Oh, I like Verizon. It's been a great stock. We've been recommending it literally since the show began, not backing away from it now. I like yield, too."
Eagle Bulk Shipping Inc. (NASDAQ: EGLE): "Nope, I do not like the bulk shippers. I do not like the crude oil plays. I just do not want to be in that business."
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