Cramer Effect Lifts Huntington Bancshares and ArcSight

Several stocks were boosted today by a combination of the “Cramer Effect” and the surging markets. The Dow Jones Industrial average finished the day up 185 points. 

Huntington Bancshares (HBAN: 5.40 +2.86%) received the biggest boost from the “Cramer Effect” as its shares jumped 6.7%. In the Lightning Round of Friday’s Mad Money show, Jim Cramer had reiterated his earlier recommendation of HBAN from early June. “Why aren’t you in Huntington Bancshares?” 

Cramer’s other bullish stock pick, ArcSight (ARST: 26.93 +2.05%) also performed quite well with shares rising 5.7%. Cramer recommended investors look at ArcSight following on the recent cyberattacks in Korea and the United States. Cramer believes that cyber security will be the next big trend and thinks ArcSight stands out because of its clean balance sheet, decent growth rate, and $91 million in cash. Although ArcSight trades at a relatively high earnings multiple, Cramer would pay twice the company’s growth rate for the stock, and the fact that earnings estimates are so low may be an indication of an upside surprise. 

Other Cramer bullish picks: 

NetApp (NTAP: 33.32 +0.42%) gained 4.3% – “Net App is a winner! I wanted them to get Data Domain, but now I don’t know how they stay independent. I think the quarter is better-than-expected.”

Sallie Mae (SLM: 12.54 +2.87%) up 4.4% – “Now that the stock has pulled back, I want you to pull the trigger again. I think Sallie Mae is a winner.”

Apple (AAPL: 225.50 +0.29%) jumped 4.4% – Cramer predicts Apple will report quarterly earnings that will “blow your socks off.”

Honeywell (AAPL: 225.50 +0.29%) gained 3.8% – Cramer would be a buyer of Honeywell which is down 23 points, but has an impressive 4% dividend yield.