Hasbro reported a 2-cent earnings beat from a 39-cent expectation from Wall Street analysts and higher than expected sales that were up 10 percent year over year. It's as strong, and probably stronger than 2016," Goldner said. "We are very excited about the lineup for 2017. Shares of Hasbro (NASDAQ: HAS) fell more than 6 percent on Monday following concerns that the company had lost its "Jurassic Park" license, but CEO Brian Goldner said 2017 could be a better year. I'm saying take a break from that," Cramer said. "We all seem to want to focus on Netflix. Netflix was hurt once again from slower subscriber growth. The only real downers so far have been Netflix (NASDAQ: NFLX) and Hasbro (NASDAQ: HAS). "If that is as bad as it gets, then the Journal is going to have to rethink its premature obituary for earnings season … I think it's fair to ask, what is there to be gloomy about?" the " Mad Money" host asked. It started with several top and bottom line beats from companies like PepsiCo (NYSE: PEP) and Alcoa (NYSE: AA). In reality, earnings season is not that bad, Cramer said.
The story made him feel like everything was terrible. The fright began when he read The Wall Street Journal's cover story entitled ' Corporate Profits set to Shrink for Fourth Consecutive Quarter' that detailed collapsing oil prices, a weak merger market and saturated phone market.
Jim Cramer panicked when he read the news on Monday morning and saw it was filled with scary reports of earnings.
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