Stocks deserve to climb on big earnings

After blowout reports from Oracle, RIM and Accenture, stock futures should be roaring today.

By Jim Cramer Dec 17, 2010 9:43AM

more stock market commentary and investing tips from jim cramerI don't like days when futures are up huge early and then we get a total slam-down, which seems to have happened nearly every time stock futures have risen abruptly in 2010.


Yet today they should be up. Having just read through the conference call and post-analyst notes on Oracle (ORCL), Research In Motion (RIMM) and Accenture (ACN), I am astounded at how these companies are doing.


"Everyone" knew that Oracle was doing well, but the growth the company is talking about is the kind you would expect from a much younger company. I am continually surprised when I read a call like that by how many companies don't already have Oracle or database management software. Or that so many are obviously not thinking of (CRM).


Accenture is not some small outsourcing outfit. It's the second largest, and it is seeing, really for the first time in a long time, a real pickup in spending. The numbers, which were already creeping up, were handily beaten.

(For more of an in-depth analysis of Accenture and Oracle, check


Research In Motion's earnings were extraordinary if only because almost everyone I know was expecting ho hum at best, and instead it seemed, at least on the first cut, like a genuine share take and growth situation.


Now, RIMM is a strange animal, and it doesn't lend itself to reading the notes and listening to the call. There's always more there.


However, one thing is clear: The quarter is not one of those disappointing quarters that will leave everyone scratching his head and cause a run on Nasdaq ($COMPX).

If there were some big negative macroeconomic pieces of news out overnight, I could understand why individual stock news isn't causing the market to roar.


But the dollar is weak and the commodities are stable. Plus, the Democrats have agreed to a policy that might allow more spending cuts, causing the long bond to stabilize -- at least for a few days!


Yeah, if there were ever a day when futures should be roaring, it is this one.


But then again, futures sure have been known to be wrong in the past!


At the time of publication, Cramer was long Accenture and Oracle.


Jim Cramer is co-founder and chairman of TheStreet. He contributes daily market commentary for TheStreet's sites and serves as an adviser to the company's CEO.


Follow Cramer's trades for his Charitable Trust.


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