Mad Money w/ Jim Cramer – Episode Summary (Jan 10, 2026)

Overview

In this episode, Jim Cramer guides listeners through the latest moves in the stock market, with a sharp focus on the start of earnings season, upcoming catalysts like the J.P. Morgan Healthcare Conference, and in-depth analysis of consumer names Shark Ninja and Ulta Beauty. The episode is packed with Cramer’s trademark stock advice, detailed sector analysis, rapid-fire stock takes in the Lightning Round, and an expert preview of healthcare themes with JP Morgan’s Lisa Gill.

Main Themes and Discussion Points

1. Stock Market Rally and Rotational Dynamics (01:42–04:00)

• Market Rally: Cramer discusses a broad rally driven by overlooked market sectors following an “unreadable” unemployment report.
  • “What’s happening is once again a broad-based rally … The Dow rallied 238 points. S&P gained 0.65%. The Nasdaq jumped 0.82%.” (01:42)
• Tech Stock Weakness: Apple and Nvidia, key “Magnificent Seven” stocks, are weak not due to company issues but manager “source of funds” rotation.
  • Cramer’s advice: “I say own Apple and own Nvidia. Don’t trade them. Nothing’s changed for me.” (03:47)

2. Setting the Stage: What to Watch Next Week (04:10–08:45)

Key Catalysts:

• J.P. Morgan Health Care Conference: Cramer previews interviewing CEOs, looking for market-moving M&A announcements. (04:10)
  • “Historically, this is a conference where people announce grand plans, including mergers and acquisitions.” (05:10)
• Inflation Data: December CPI may show continued consumer strength, influencing Fed rate decisions and market tone.
  • “Look for some tension between the President who’s trying to contain inflation and the consumer who’s born the brunt of it.” (06:10)
• Earnings Season Kickoff: Big banks like JP Morgan, Citigroup, Wells Fargo, and more to report.
  • Cramer expects cautious commentary from Jamie Dimon (JP Morgan CEO) could temporarily pressure the stock.
  • “Jamie’s cautious comments crushed his own stock last quarter. He could do it again. Remember I told you, buy it into that weakness.” (07:10)
• Sector Standouts: Tech hardware (data storage, semiconductors), airlines, and trucking companies could outperform.
  • “The winners in the Semi area so far though have been … data storage simple names like Western Digital, Sandisk and Seagate …” (08:45)

3. Call-In Q&A – Individual Stock Advice (09:24–12:21)

Notable Highlights:

• Cloudflare (10:20): Cramer says buy on weakness, praises CEO Matthew Prince, sees opportunity due to recent selloff.
• Cheesecake Factory (11:08): Still a buy, called a “seasoned practitioner,” undervalued at 13x earnings.
• Broad Takeaway: “A strong start to the season of earnings week could set the tone for not just the rest of the year but well, I shouldn’t say it could set the tone for a long time.” (11:19)

Deep Dives: Featured Stock Analyses

4. Shark Ninja – Consumer Appliance Comeback (14:19–21:33)

Why Focus on Shark Ninja?

• Comeback Story: Returned from tariff and supply-chain worries to top performer.
  • “One of the greatest comeback stories in the second half of last year … stock has rallied from a low of $25 … to $120 and change.” (14:45)
• Operational Success: 9 straight quarters beating sales and earnings estimates.
  • “Reported nine times since it came public … and in each of those quarters, the company beat both sales and earnings estimates. That’s one reason the stock caught fire in 2024, rallying 90%.” (15:33)
• Tariff Overhang and Margin Management: Tariff pressures persist, but product demand and cost management are winning out.
  • “Tariffs are a problem for Shark Ninja. I don’t want to imply otherwise, but clearly they’ve been able to overcome that problem.” (18:44)
• Strong Category Growth: Cleaning appliances +12.4%, food prep appliances +11.9%, beauty/home environment products +56.7% in Q3. (17:18)

Cramer’s Conclusion:

• “At the end of the day, I like the story very much … if the Supreme [Court] strikes down these tariffs for being unconstitutional, Shark Ninja could have a lot more upside as it could recoup a lot of money … This thing is a steal.” (20:30)

5. Ulta Beauty – Retailer in Resurgence (23:25–29:43)

Why Focus on Ulta?

• Consistent Momentum: New CEO Keisha Steelman has orchestrated a significant turnaround.
  • “Back in October, I told you that Ulta had finally gotten its act together … Over the past month or so, Ulta has come roaring back, climbing all the way to a new all time high of $675.” (23:28–24:00)
• Blowout Quarter: December quarter saw sales and earnings blow past expectations; double-digit e-commerce growth, upgraded full-year guidance.
  • “Net sales were up 12.9% year over year … same store sales up 6.3% … gross margin up to 40.4% … management raised their full year forecast across the board.” (24:38–25:24)
• Strategic Initiatives: Stronger US core, successful international expansion (Mexico, Middle East), and cost controls paying off.
  • “CEO Steelman explained … she had to improve the in store shopping experience, making sure more items people want are in stock … Ulta’s focus on expanding overseas, and recently launched its online marketplace … cost savings are coming through, hence the stronger margins.” (26:08–27:24)

Cramer’s Investing View:

• “If you didn’t listen to me last time, I still think you can buy Ulta here and get some exposure to this excellent story … with Ulta stock, white hot here. I mean white hot. You should be hoping for a market wide pullback that gives you a chance to load up … Ulta Beauty continues to look better and better and then better some more.” (28:33)

Lightning Round – Stock Opinions Rapid Fire (38:58–43:55)

Stock Opinions:

• Lithium Americas: No, prefer Albemarle (ALB). (39:36)
• DBACs: Praised due to Sanofi deal. (40:10)
• Tallin Energy: Hold, could be a buy here despite recent weakness. (40:29)
• Sailpoint (SALIO): Avoid; Cramer dislikes most enterprise software now, with Salesforce as the only exception. (41:11)
• Radiant Logistics: Favors FedEx over truckload logistics. (41:44)
• First Solar: Likes company, but advises against buying on margin. (42:08)
• Amprius Technology: Calls it a “nice spec” and supports holding for now. (42:47)
• Arm Holdings (ARM): Likes CEO, recommends buying not selling after a 23% loss. (43:38)

Healthcare Preview: JP Morgan’s Lisa Gill (32:35–38:55)

Conference Themes:

• Biotech Buzz: High expectations for dealmaking and innovation. Biotech has outperformed, with distributive middlemen still thriving despite policy skepticism.
  • “Biotech has been on fire as you well know. And I think there’s a lot of expectations around perhaps parties coming together.” – Lisa Gill (32:56)
• Policy Risks: Administration still focused on fraud, waste, and abuse in managed care.
  • Medicare Advantage could see changes, but remains popular public/private partnership.
• Retail Pharmacy Rebound: CVS (a “favorite” stock for 2026) seen as undervalued by Gill, benefiting from industry consolidation and cost-plus model.
• Biotech M&A Outlook: Administration now more open to deals; large pharma has ample capital to pursue acquisitions. (36:54)
• AI in Healthcare: Expect discussion of AI’s potential in pharmaceuticals and healthcare services, but real-world impact remains unproven.
  • “I think everybody’s going to be talking about can AI truly create more efficiency? Can they speed up the process around drug development?” (38:08)

Energy Sector – Nuclear’s New Hope and Risks (44:26–48:03)

• Oil vs. Nuclear Dynamics: Venezuela oil revival seen as a threat to crude prices; US oil companies hesitant to invest.
• Nuclear Hype: Meta/Facebook’s commitment to new nuclear plants sparks debate.
  • “Meta Platforms is buying and building facilities that will generate enough power for the expansion of their infrastructure … the small nuclear reactors being built by Oclo …” (44:40)
• Cramer’s Warning: Skeptical about fast nuclear timelines given decades of delays and overruns in sector.
  • “If Mark Zuckerberg can somehow find a way to build a nuclear plant on time, give that man a Nobel prize. Sadly, I wouldn’t put money on it.” (47:23)

Notable Quotes & Memorable Moments

• “Are [Apple/Nvidia] the House of Pain? Wrong address.” — Jim Cramer (03:59)
• “Jamie’s cautious comments crushed his own stock last quarter. He could do it again.” — Jim Cramer (07:13)
• “This company [Shark Ninja] started printing great quarters right out of the gate.” — Jim Cramer (15:50)
• “Ulta Beauty continues to look better and better and then better some more.” — Jim Cramer (28:41)
• “If the supreme [court] strikes down these tariffs for being unconstitutional, Shark Ninja could have a lot more upside as it could recoup a lot of money.” — Jim Cramer (20:30)
• “If Mark Zuckerberg can somehow find a way to build a nuclear plant on time, give that man a Nobel prize. Sadly, I wouldn’t put money on it.” — Jim Cramer (47:20)

Section Timestamps

| Segment | Time (MM:SS) | |-------------------------------------------|---------------| | Opening Market Thoughts | 01:42–04:00 | | Upcoming Market Catalysts | 04:10–08:45 | | Call-In Q&A | 09:24–12:21 | | Shark Ninja Deep Dive | 14:19–21:33 | | Ulta Beauty Deep Dive | 23:25–29:43 | | Healthcare Preview (Lisa Gill) | 32:35–38:55 | | Lightning Round | 38:58–43:55 | | Energy/Nuclear Segment | 44:26–48:03 |

Overall Tone

Cramer’s signature: energetic, conversational, and practical. The show mixes enthusiastic calls to action ("Buy on weakness!"), pragmatic skepticism (“Don’t buy on margin!”), and industry insight, with a healthy dose of humor and self-reference.

Useful for Listeners Who Missed the Episode

If you missed this episode, you now know exactly how Jim Cramer is thinking about sector rotations, which stocks he’s bullish on right now (including under-the-radar growth stories like Shark Ninja and retail winners like Ulta), and which themes to watch going into earnings season and the crucial J.P. Morgan Healthcare Conference. The stock-specific insights and sector views, especially with engaging guest analysis from Lisa Gill, make this episode a practical roadmap for the week ahead in the markets.