The averages continued to be volatile, with triple digit moves in both directions in the past week. On Thursday, the Dow made huge gains, and CNBC’s Jim Cramer on Mad Money identified 10 stocks that represent the reason for the rally.
1. American Airlines: This stock will benefit from fare increases and low oil prices.
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2. Caterpillar has been attacked by short-sellers, but it reported a decent quarter and has seen an upside surprise.
3. Celgene reported a “breathtaking” quarter on strong news about its drugs.
4.Diamond Offshore has been in a struggling industry, but is showing signs of life.
5. 3M was supposed to report a disappointing quarter, but earnings were strong.
6. O’Reilly Automotive has seen a significant increase in same store sales.
7. Parker Hannifin amazed the market with its huge buyback and dividend boost.
8. ServiceNow is a cloud-based software company that reported good numbers and brought up other cloud stocks.
9.Union Pacific gave strong indications on the health of the U.S. economy.
10. Tractor Supply reported healthy same store sales and its stock rallied 16%.
