Jim Cramer's Mad Money Review

This site is dedicated towards tracking Jim Cramer's stock picks on his TV show Mad Money. Read about and discuss Jim Cramer's ability to move markets. Be ahead of the stock market. Get the news before its news.

Wednesday, October 31, 2007

Jim Cramer's Wall Street Confidential Oct. 20th

Countrywide (CFC), Ambac (ABK), PMI (PMI), MBIA (MBI), Washington Mutual (WM), Bank of America (BAC), Wachovia (WB)
To those who dread a Fed rate cut due to inflation worries, Cramer says oil and grain prices will not be alleviated by a rise in interest rates. "The thing that would knock the market down huge is obviously they don't cut," said Cramer; " … all year people have been focused much more on inflation. It's deflation that I'm worried about."
While raising interest rates may strengthen the dollar's value, Cramer insists this is not so simple; "the dollar is highly correlated to economic growth, not to the price of money."
"I've seen whole economies raise interest rates to be able to defend their currency and fail repeatedly," he said. "Where people want to be is in a country that is controlling its own fate, tends not to have as big a trade deficit as we have and is growing, and our country is not growing, therefore you don't want the currency."
While he does not think CFC, ABK, PMI, MBI and WM can be rescued by the Fed, and those too took mortgages between 2005 and 2007 may be "wiped out" a rate cut may still save those who took mortgages in 2007.
If rates are not cut, "Armageddon is back on the agenda," added Cramer. While Countrywide is currently engaged in a battle for its survival, BAC and WB will report "quarter of quarter of losses," which will cause people to view the crisis "very differently."
Published by SeekingAlpha

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posted by Stock Administrator @ 6:55 PM   0 Comments

Jim Cramer's Stop Trading Oct. 30

BE Aerospace (BEAV), Goodrich Corp (GR) and Boeing (BA): Cramer says the Bears are wrong about aerospace and while GR "reported a great number and it's a really, really good company," Cramer worries about downgrades from jittery analysts, especially since problems have been reported with GR's landing gear. He prefers BEAV, which reported a "beautiful quarter" and has "unbelievable growth." He also likes BA on the announcement of a buyback.
Procter & Gamble (PG), Colgate (CL): Cramer says CL has an advantage over PG with its exposure to Latin America with its emerging middle class. CL is the momentum choice since it was discovered that the Chinese were "poisoning a lot of their toothpaste," and Cramer predicts CL's numbers will be raised.
Published by SeekingAlpha

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posted by Stock Administrator @ 2:49 PM   0 Comments

Jim Cramer's Mad Money Stock Recap Oct. 30th

Cramer began Tuesday's show by talking about investing opportunities in Brazil. Cramer believes that Brazil is a good place to invest because it will profit from lowered interest rates in the US and improving investment conditions. His top Brazil play is Banco Bradesco (BBD). Cramer had recommended this stock earlier this year, and then told people to switch into Banco Itau (ITU). Now he wants you to go back to Bradesco because it is cheaper and has better growth prospects.
Southern Copper (PCU): Cramer took a call asking if PCU would react to the falling dollar, and Cramer said not to worry about the US economy much when investing in Brazil. Next Cramer talked about an FCC ruling that is expected tomorrow which will eliminate agreements between cable companies and apartment owners. Cramer also thinks that Corning (GLW) will profit from the removal of these contracts, since Verizon (VZ) and AT&T (T) will move into apartments, and they will need to lay fiber to do so. Cramer also thinks that the company is too cheap considering its growth rate.
Noah Education (NED): This stock stumped Cramer yesterday, and since he thinks the Chinese education market is growing and he is bullish on the stock. He also mentioned that now is the chance to buy more dry bulk shipping stocks.
Cramer returned from the lightning round talking about a $64 per share bid that Kirk Kerkorian made for Tesoro (TSO). He thinks you can profit from some pin action from this offer by looking at other refiners. His recommendation is Marathon Oil (MRO), which would go up 18% if it was given the same valuation as Tesoro. Cramer thinks that refiners have bottomed, and that Marathon has given investors a good entry point, along with exposure to markets with better margins and the fact that they do some exploration as well.
Cramer then read an email thanking him for his stock picks and answered a question about merger arbitrage.
Sudden Death. Cramer is bearish on Palm (PALM) and Coach (COH), and he is bullish on Diana Shipping (DSX) along with other dry bulk shippers.

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posted by Stock Administrator @ 10:22 AM   0 Comments

CNBC's Mad Money Lightning Round Recap Oct. 30th

Bullish
Vodafone (VOD),
Annaly Capital Management (NLY), thinks that interest rates will be cut tomorrow, and this company will benefit.
Perry Ellis International (PERY),
NexCen Brands (NEXC), would rather recommend it on Friday.
Phillips-Van Heusen (PVH),
Synchronoss Technologies (SNCR), Cramer is bullish
ValueClick (VCLK), Cramer thinks it is valuable to many large internet companies, and that it will be bought out by the end of the year, so he is bullish.
Apple (AAPL), Google (GOOG), Research In Motion (RIMM)- Bullish on all three.
Furmanite Corporation (FRM), bullish on this infrastructure play.
Foster Wheeler (FWLT),
Altria (MO)
Colgate-Palmolive (CL).

Bearish
J2 Global Communications (JCOM)- "Don't Buy."
3SBio (SSRX), Cramer is sticking to his Four Horsemen of China
Vimpel-Communications (VIP), stay away from this stock.
E-House (China) Holdings (EJ), China is too hot to speculate in this stock.
ConAgra Foods (CAG), Cramer can't recommend this stock.
Synaptics (SYNA)- Cramer doesn't want to touch this stock.
Procter & Gamble (PG)- would rather have you in Colgate (CL).

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posted by Stock Administrator @ 9:15 AM   0 Comments

Jim Cramer's Stop Trading Oct. 30th

Buy BE Aerospace (BEAV), Jim Cramer said Tuesday on CNBC's Stop Trading! segment.
Cramer cited Tuesday morning's strong earnings report from the airplane supplier and also noted apparent problems with Goodrich's (GR) landing gear. Scandinavia's SAS said earlier Tuesday it would stop flying Bombardier's Q400 airplane after three instances in which the wheels failed. Goodrich supplies the landing gear for those planes, Cramer said.
Cramer also urged investors to buy Colgate (CL) and sell Procter & Gamble (PG), because Colgate has more exposure to fast-growing Latin American economies.

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posted by Stock Administrator @ 5:59 AM   0 Comments

Tuesday, October 30, 2007

Jim Cramer's Mad Money Stock Recap Oct. 29th

On Monday's show, Cramer said that he thinks retailers will have a turnaround. He believes that the good retailers can't fall any further, and that there will be 2 more rate cuts before the end of the year, which he thinks is bullish for retailers if you look back at their past performance after rate cuts. Cramer also said that the change in the weather will allow retailers to move some of their new winter products. His first two retail picks are Ralph Lauren (RL) and Nordstrom (JWN). Both of these stocks are down big from their recent highs, and he thinks that luxury goods retailers will be the first to turn around since people with more money to spend won't be as concerned with economical concerns, making both of these stocks bargains.Cramer then went to the phonelines. The first caller asked about J.C. Penney (JCP), and Cramer said that he likes the stock, but can't pull the trigger because he thinks it will be behind the luxury retailers when the sector turns around. The next caller asked about timing the purchase of retail stocks around Christmas. Cramer said that it is time to buy these two stocks now. The last caller asked about Build a Bear Workshop (BBW), and Cramer said he wants you to stay far away from that stock.Cramer then gave out his top retail pick, which was Target (TGT). He also noticed that stores are very full, thinks that they make shopping fun, that they are opening stores rapidly, and that the stock is cheap. But his primary reason is that the company is thinking about selling its credit card business, which could fetch up to $7 billion. Target could use this money for a large stock buyback.Cramer also mentioned that he had a good call to sell Smith and Wesson (SWHC) last week since they guided earnings lower today.After the lightning round, Cramer talked with Chris Matthews about the effect politics and the upcoming elections will have on the stock markets.

Mad Mail: The first email asked if Cramer would have other presidential candidates on the show, and Cramer said that he welcomes them all on the show. The next email asked about Sketchers (SKX), and Cramer said that he thinks they suffered from bad timing, and he thinks they have that straightened out now. Another email asked about Six Flags (SIX), and Cramer said they got hurt by bad weather and bad acquisitions. Lastly, an emailer asked about Hologic (HOLX), and Cramer said not to worry about the large short interest because it is being driven up by merger arbitrage players.

Sudden Death. Cramer is bullish on Manitowoc (MTW), bullish on Baidu.com (BIDU), bearish on Dow Chemical (DOW), and bullish on Adobe (ADBE).

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posted by Stock Administrator @ 11:25 AM   0 Comments

Jim Cramer's Mad Money Lightning Round Oct. 29th

Bullish
AT&T (T),Verizon (VZ),Boeing (BA)- BullishSears (SHLD)- bullish because they are buying back a lot of stock, they have large real estate holdings, and their earnings from Sears Canada will be strong.National Oilwell Varco (NOV) and Transocean (RIG)- likes both.Freeport-McMoRan (FCX),comScore (SCOR)- recommended a couple weeks ago..still bullish.Oshkosh Truck (OSK),Masimo (MASI)- Cramer had the CEO on the show a couple weeks ago and he was bullish on the stock, and now Cramer agrees.First Solar (FSLR),SunPower (SPWR)MEMC Electronic Materials (WFR).
Bearish
MetroPCS Communications (PCS)- thinks AT&T (T) and Verizon (VZ) are better wireless plays.Titanium Metals (TIE)- recommended Freeport McMoran (FCX) instead.Allegheny Technologies (ATI),Spartan Motors (SPAR)- likes Oshkosh Truck (OSK) instead.LDK Solar (LDK)- stay away.lululemon (LULU)- ring the register.

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posted by Stock Administrator @ 9:25 AM   0 Comments

Monday, October 29, 2007

Jim Cramer's Mad Money Lightning Round Recap Oct. 26th

Bullish
Proctor and Gamble (PG), better play than Unilever in this sector.
ValueClick (VCLK), Cramer thinks that this stock is still a buy.
UPS (UPS), bullish on the stock over the long term despite the current slowdown in the economy.
Omniture (OMTR), Cramer is bullish on the stock, and thinks that it will get bought out in the next year.
Aecom (ACM), still a great infrastructure play and that it is still cheap.
KBR (KBR),
Foster Wheeler (FWLT),
Salesforce.com (CRM) - likes their product and their sales model
Oracle (ORCL).

Bearish
Taser (TASR) - it is time to cash out
Smith & Wesson (SWHC).

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posted by Stock Administrator @ 11:30 AM   1 Comments

Jim Cramer's Mad Money Stock Recap Oct. 26th

On Friday, Cramer interviewed Mitt Romney, Republican candidate for president in 2008. They talked about his business background, his plans for the country, and his campaign.
"Speculation Friday" Cramer talked about a stock that he has been bearish on since he began the show. The stock is Skechers USA (SKX), which he thinks is poised for a turnaround since it beat earnings this week with strong revenue growth and international growth. If the company can expand its margins as the CEO promised, Cramer thinks this can be a $31 stock.
Cramer then went to the phone lines. The first caller asked about Nike (NKE) and their acquisition of Umbro, which Cramer likes and wishes he hadn't sold. The next caller asked about Heelys (HLYS), and Cramer said to stay away.
Before the Lightning Round Cramer did some housecleaning. First he said that he likes Starent Networks (STAR) again, since the price has dropped down to where he first recommended it. Next he said that Synta Pharmaceutical (SNTA) is risky, but Cramer likes it a speculative play. He also said that he likes Celgene (CELG) better.
Cramer's Game Plan for next week. Since the Fed is meeting next week, Cramer focused his plan on ways to profit from the results of the meeting. He thinks we will get a half point rate cut on Wednesday. His first suggestion is Annaly (NLY) since Cramer thinks they saw the mortgage crisis coming, and were prepared to profit from it. The next stock is FMC Technologies (FTI) since it helps oil companies find more oil, and it reports earnings on Tuesday. The next stock to buy is Transocean (RIG) since it is not affected by the poor US oil drilling market, and its merger with GlobalSantaFe (GSF) will close in about a month.
Cramer said that you should buy half your position in these stocks on Monday, and then buy the rest after the Fed announcement, since there is a chance that the Fed won't cut rates and that the market goes down because of it.
Wynn Resorts (WYNN) and Las Vegas Sands (LVS). Finally, Cramer answered an email that asked about these stocks. Cramer thinks that they are both well run companies.

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posted by Stock Administrator @ 10:13 AM   0 Comments

Friday, October 26, 2007

Jim Cramer's Mad Money Stock Recap Oct. 25th

Today's show started with Cramer putting on a straitjacket because the market is driving him crazy with all the wild swings going on in the major indexes. Psychiatric Solutions (PSYS) was his first recommendation of the day. It is the largest mental health service provider in the US. Cramer thinks that this stock is safe from all the problems in the market, and that it has a solid base and potential for growth. He is bullish on the stock and thinks that it could be worth up to $60.
Cramer then took some phone calls. The first caller asked for some good diabetes plays, and Cramer gave her Nastech Pharmaceutical (NSTK) and Novo Nordisk (NVO). The next caller asked about Synta Pharmaceuticals (SNTA), and Cramer said he needs to do his homework on it.
Cramer's most recent pick from "Microtrends" was Gamestop (GME) because the book says that the average video game player is now 33 years old, meaning that gamers have more money to spend on games and consoles since they are adults. Cramer also likes that the company has expanded outside the US. The stock has pulled back recently, so Cramer thinks the stock is a buy now, and that it could go up to $57.
"Sell Block." Cramer started by stating that Align Technology (ALGN) was one of his worst calls of the year since they guided earnings lower after this quarter. The next stock is Hansen Medical (HNSN), and recommends you sell so you can lock in a quick $11 gain since he recommended it, plus Intuitive Surgical (ISRG) is selling its share of the company. He also asked people to sell Lululemon (LULU) and Research in Motion (RIMM).
Cramer's final trade was Celgene (CELG), and he had the COO of the company on the show to talk about the upcoming prospects for the company's products. It is down, but Cramer still likes it.
he then talked about Intuitive Surgical (ISRG) and had CEO Lonnie Smith on the phone. They talked about the company's main product, the da Vinci surgical machine. Cramer thinks the stock is going much higher.
Sudden Death. Denbury Resources (DNR), which Cramer is bullish on. The next stock was Charming Shoppes (CHRS), which Cramer is bearish on. The next stock was LifeCell (LIFC), which Cramer likes. The next stock was Quintana Maritime (QMAR), which Cramer likes, along with Diana Shipping (DSX). The last stock was Delta Air (DAL), and Cramer said that he likes United (UAUA) better.

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posted by Stock Administrator @ 10:35 AM   0 Comments

Wednesday, October 24, 2007

Jim Cramer's Wall Street Confidential Oct. 23rd

Google (GOOG), IBM (IBM), Microsoft(MSFT), Intel (INTC)
While consumer weakness is hurting retail, people are still buying tech, said Cramer, explaining the sector is product-cycle driven; "The product cycle remains the Google -led product cycle, meaning that Google has become so important that people want to have fast taking of Google, fast downloading of Google, fast downloading of YouTube," Cramer said. IBM is the exception because "IBM identified its end-client basis." The success of Microsoft's Vista will extend from back-to-school to the holidays and maybe beyond. Cramer expressed annoyance at shorts who erroneously spread rumors about Intel's alleged double orders, and then refused to admit their mistake; "When I make a mistake ... I say I made that mistake," he said.
Published by SeekingAlpha

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posted by Stock Administrator @ 6:24 PM   0 Comments

Jim Cramer's Stop Trading Oct. 23rd

Coach (COH): Cramer admitted he was wrong to recommend buying Coach at $40; " I know retail has gotten weaker … we've always felt that the high end was immune, so maybe you're right... It's not as high-end as it used to be."
PMI (PMI) and MGIC (MTG): Cramer would sell PMI and MTG off of the sector downgrade by Lehman Brothers. Both stocks were down 11% in heavy trading on Tuesday. "They sliced through book value," Cramer said.
Published by SeekingAlpha

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posted by Stock Administrator @ 6:02 PM   0 Comments

Jim Cramer's Mad Money Stock Recap Oct. 23rd

On Tuesday's show, Cramer began by analyzing another stock that has been put on sale after Friday's drop in the market. Shaw Group (SGR) had the best earnings of the quarter so far. Cramer thinks this is time to back up the truck and load up on the stock. Cramer still likes infrastructure plays like Shaw, and the earnings make it even more attractive.
Cramer then went to the phonelines. The first caller asked about Aecom (ACM), which Cramer recommended a couple of weeks ago. Cramer said it is still one of his favorites. The next caller asked about uranium prices, which Cramer attributed to production problems, and recommended Mosaic (MOS) as a good uranium play.
Next, Cramer discussed another pick he made based on the book "Microtrends," which Cramer has been plugging for about the past week. He found that the number of people working from home is increasing, which he thinks will be profitable for Cisco (CSCO), since its products will be needed to connect people to the office, including offerings from some companies they have bought out over the past few years.
Another caller asked about the tech sector in general, and Cramer said that he is the only person bullish on tech. The next caller asked why Cramer likes Cisco, and Cramer said he thinks it will be up consistently 15% a year.
Am I Diversified?
first caller asked about five stocks: Amgen (AMGN), Under Armour (UA), PetSmart (PETM), Goldman Sachs (GS) and EMC (EMC), the latter two of which Cramer owns for his charitable trust, Action Alerts PLUS. Cramer said, "That is definite, definite diversification." The second caller named these five plays: IBM (IBM), Bristol-Myers Squibb (BMY), Pfizer (PFE), Disney (DIS) Citigroup (C), which Cramer also owns for his charitable trust.
Mad Mail: The first email thanked Cramer for the show he did on October 19, where he gave his 5 rules for investing. The writer thinks that those tips will save him money in the future. The next email asked why Cramer didn't talk about Dry Ships (DRY) when he did his dry bulk shippers segment. Cramer said that it has gone up so much that he had to pass on it. The next writer invited Cramer to his daughter's Bat Mitzvah because the profits from his stock picks are paying for it, and the last email asked what to do with some Hershey (HSY) stock they own, and Cramer said to sell it any time the stock goes up.

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posted by Stock Administrator @ 10:06 AM   0 Comments

Tuesday, October 23, 2007

Jim Cramer's Stop Trading Oct. 22

Chevron (CVX): Cramer said the recent rally was only a “dead cat bounce” for the financials and would sell stock in that sector and buy oil stocks, such as Chevron and minerals.
Rio Tinto (RTP) and BHP Billiton (BHP), CVRD (RIO), Freeport McMoRan (FCX): Cramer was critical of Citigroup’s downgrade of RTP and BHP. He expressed his bullishness on both stocks and included RIO and FCX which he says is not a falling knife but a stopping knife.
KHD Humboldt (KHD) and AECom (ACM): Cramer notes ACM is down and says it is a buy. He also likes KHD.
Published by SeekingAlpha

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posted by Stock Administrator @ 5:59 PM   0 Comments

Jim Cramer's Lightning Round Oct. 22nd

Bullish calls:
Celgene (CELG): 'That is the best play.' eBay (EBAY): 'I re-recommended eBay after that quarter. ... They got a lot of cash, PayPal is really good. ... I reiterate on eBay.' Halliburton (HAL): 'The only reason Halliburton was up is because they are moving aggressively away from North America and are taking share from Schlumberger.' Under Armour (UA): 'Let me give you the problem ... the weather is just unbelievably warm. ... That's the problem with UA. ... But I'm sticking by it.' Cypress Semiconductor (CY)
Bearish calls:
Sangamo Biosciences (SGMO): 'I like the technology. ... They figure out what turns genes on and off. ... But I gotta say SellSellSell.' Virgin Mobile (VM): 'This guy, Branson, he may be cool. The babes may like him. But in my department, the money department, stay away.' Superior Energy Services (SPN): 'This is American oil. ... Any oil services company that has too much America is in a bear market. ... Don't believe me? Look at Schlumberger ... I am not going to push any North American drillers.' Amtrust Financial Services (AFSI): 'It's a small business insurance play, which shouldn't have any exposure to subprime. ... But I'm not going to go there and give you a Don't Buy until I find out why that stock is hitting those bad bad lows.' Charter Communications (CHTR) Unit (UNT)
Published by SeekingAlpha.com

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posted by Stock Administrator @ 5:31 PM   0 Comments

Jim Cramer's Mad Money Stock Recap Oct. 22nd

Cramer started off Monday's show by recommending a stock that he thinks is inexpensive relative to its earnings and growth. The stock is Google (GOOG), which reported huge earnings on Thursday, and Cramer thinks it is cheap because the drop in the market on Friday kept investors from pricing the growth into the stock.
Cramer then went to the phonelines. The first caller asked about Celgene (CELG), and Cramer said to back up the truck since it's down 6 points. The next caller asked about SINA (SINA), and Cramer said that Baidu.com (BIDU) and Focus Media (FMCN) were better China plays.
Apple (AAPL): Next Cramer said Apple is cheap after the earnings they reported today, but the cheap stock that he really likes is Intuitive Surgical (ISRG). Cramer thinks that this stock is even cheaper than Google, and it also did well on Friday due to strong earnings. He thinks they will continue to grow, and that earnings will stay strong as they sell replacement parts for their surgical instruments.
After the lightning round, Cramer went over another stock that he thinks will benefit from another trend he found in the book "Microtrends." Also skin cancer has been increasing rapidly, and Schering-Plough (SGP) owns Coppertone, making it the best play on this trend. SGP's CEO was on the show to talk about the most recent earnings report and the future prospects of the company.
Cramer then did a segment on Seaspan (SSW), a container shipper. He discussed the company with the CEO, and then said that he thinks the dry bulk shipping stocks are best, but this is a good container shipper.
Sudden Death. The first caller asked about Unit (UNT), which Cramer doesn't like because it's a domestic oil driller. The next caller asked about Cypress Semiconductor (CY), which Cramer likes because it has SunPower (SPWR) as a subsidiary. The last caller asked about MedcoHealth (MHS), which Cramer gives two thumbs up.

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posted by Stock Administrator @ 10:10 AM   0 Comments

Monday, October 22, 2007

Netflix (NFLX) Profit Soars

Netflix Inc.'s third-quarter profit soared past analysts' expectations as the online DVD rental pioneer battled rival Blockbuster Inc. with a price-cutting strategy that helped revive subscriber growth.
The news, released after the stock market closed Monday, lifted Netflix's stock price by more than 12 percent in after-hours trading.
The Los Gatos-based company said it earned $15.7 million, or 23 cents per share, for the three months ended September. That represented a 23 percent increase from net income of $12.8 million, or 18 cents per share, in the same period last year.
The earnings easily exceeded the average estimate of 15 cents per share among analysts surveyed by Thomson Financial. Revenue rose 15 percent to $294 million -- about $8 million above the average analyst's estimate.
Netlfix's third-quarter performance contrasted with the sobering forecast that it provided three months ago after suffering the first quarterly decrease in subscribers during its 8-year history.
With Blockbuster's competing online service rapidly gaining ground, Netflix decided this summer to lower the prices on its most popular subscription plans by a $1 per month.
Though the strategy threatened to crimp profits, it appeared to pay off as Netflix added 286,000 customers during the third quarter to end September with 7.03 million subscribers. Dallas-based Blockbuster, which ended June with about 3.6 million subscribers, is expected to update its customer growth Nov. 1 when it is scheduled to release its third-quarter results.
The company expects to sign up another 300,000 to 500,000 subscribers in the fourth quarter. Investors applauded the news. After falling 23 cents to finish Monday's regular session at $23.01, Netflix shares surged $2.84, or 12.3 percent, in extended trading.

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posted by Stock Administrator @ 5:46 PM   0 Comments

Apple Inc. (AAPL) Beats the Street

Apple Inc. said Monday its fourth-quarter earnings easily beat Wall Street expectations, as it set a new record for quarterly shipments of its Mac computers and moved more than 1 million iPhones.
For the quarter that ended Sept. 30, Apple earned $904 million, or $1.01 per share, compared with $542 million, or 62 cents per share, in the year-ago quarter.
Apple's fourth-quarter revenue totaled $6.22 billion, compared with $4.84 billion in the same quarter last year.
Analysts polled by Thomson Financial expected earnings of 86 cents per share on $6.07 billion in revenue for the period.
Some 1.12 million units of the iPhone were sold in the quarter, and 2.16 million Mac computers were shipped.
In the first quarter of fiscal 2008 Apple anticipates earnings of about $1.42 per share on revenue of about $9.2 billion. Analysts on average expect earnings of $1.39 per share on sales of $8.58 billion.
Published by AP

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posted by Stock Administrator @ 5:00 PM   0 Comments

Wall Street Finishes Higher

Wall Street finished a back-and-forth session higher Monday as investors overcame some of their nervousness about the credit markets and uneven earnings and found solace in the technology sector.
Several companies including drug maker Merck & Co. reported decent third-quarter results, but investors were unhappy with rival drug maker Schering Plough Corp.'s results. They were also mindful of the downbeat profit outlooks from several blue chip companies last week.
Still, after an early slide, the market seemed to grow optimistic about Apple Inc.'s earnings, which were scheduled to be released after the closing bell. That sent tech stocks higher, and by early afternoon, other stocks were tagging along.
Disappointing earnings and Standard & Poor's downgrade of another series of mortgage-backed securities sent stocks plunging Friday, taking the Dow Jones industrials down 366 points.
"It is not unusual for a big down day to be followed by an up day. I think the bargain hunters are out there," said Brian Gendreau, investment strategist for ING Investment Management. "It seems there's fairly strong demand out there, despite all the bloodletting on Friday."
He noted that while some big-name companies' results have disappointed Wall Street, about two-thirds of earnings so far have beat estimates and outlooks remain upbeat for the technology and health care sectors.
According to preliminary calculations, the Dow rose 44.95, or 0.33 percent, to 13,566.97, after falling more than 100 points early in the session. Broader stock indicators finished higher, with tech stocks leading. The S&P 500 index rose 5.70, or 0.38 percent, to 1,506.33, and the technology-dominated Nasdaq composite index rose 28.77, or 1.06 percent, to 2,753.93.
Source: Madlen Read, AP Business Writer

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posted by Stock Administrator @ 4:50 PM   0 Comments

Jim Cramer's Mad Money Stock Recap Oct. 19th

On Friday Cramer returned from his trip to Georgia Tech to teach his viewers how to invest like the pros. He discussed five different mistakes that amateur investors make that professional investors don't. The first thing Cramer recommend amateur investors to do is have cash on hand to buy stocks when the market goes down and good stocks go on sale. Cramer recommended having 10% in cash in your portfolio. The second thing he said to do was to consider the downside of risk and not only the potential rewards. Thirdly, Cramer said that pros try not to invest in things that they don't know or understand. Fourth, Cramer said you can make too much money, because it probably means you overexposed to one sector or stock. The example Cramer gave on the show was the dot-com era where everyone was investing in tech stocks. Finally, Cramer said that amateurs try to game quarterly earnings reports to catch a quick gain, whereas professionals learn to start living and stop worrying about the quarterly report. Cramer said that if you make these decisions that take longer, than you should be able to make some "mad money."

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posted by Stock Administrator @ 11:40 AM   0 Comments

Friday, October 19, 2007

Wall Street in Shambles

Major U.S. stock indexes fell nearly 2 percent on Friday after heavy-equipment maker Caterpillar Inc cut its profit forecast and warned the housing slump was spilling over into other parts of the economy.
With investors mindful of the 20th anniversary of the 1987 stock market crash, the Dow and the S&P tumbled as Caterpillar said the U.S. economy will be "near to, or even in, recession" next year.
Caterpillar also said several of the key U.S. industries it serves were already in recession.
The bleak comments from the economic bellwether, whose stock fell 5.4 percent, helped drag down the shares of other big manufacturers, including 3M Co. , and contributed to investors' shift from stocks to the relative safety of U.S. government debt.
A drop in revenue at Schlumberger Ltd , the world's largest oil service company, sent its shares down 10.4 percent. Energy companies such as Exxon Mobil fell, as oil prices retreated from record highs.
"It's been a pretty tough day," said Linda Duessel, market strategist at Federated Investors, in Pittsburgh. "People are saying there could be a recession because Caterpillar gave some cautionary comments."
The Dow Jones industrial average was down 282.80 points, or 2.04 percent, at 13,606.16. The Standard & Poor's 500 Index <.SPX> was down 29.85 points, or 1.94 percent, at 1,510.23. The Nasdaq Composite Index <.IXIC> was down 53.76 points, or 1.92 percent, at 2,745.55.
Shares of 3M Co fell 7.3 percent to $87.85 on worries about falling profits in the LCD television market. Caterpillar fell 5.6 percent to $73.32. Investors watch large manufacturers like 3M and Caterpillar for clues on the strength of the U.S. economy.
The S&P financial index <.GSPF> was on track for its first weekly drop since the Federal Reserve cut interest rates on Sept. 18 -- a cut that was meant, in part, to allay concerns about the effects of the credit crunch.
Wachovia Corp , the fourth-largest U.S. bank, posted a 10 percent drop in quarterly profit, hurt by $1.3 billion of write-downs at its investment banking unit as credit markets tightened. Wachovia fell 2.8 percent to $46.81 on the New York Stock Exchange.
Exxon Mobil Corp shares dropped 2.3 percent to $92.89 as U.S. crude shed 86 cents to $88.61 after rising to a record $90.07 a barrel overnight. Schlumberger shares dropped 10.4 percent, or $11.62, to $100.00.
The market's decline coincided with the 20th anniversary of "Black Monday," when the Dow industrials fell nearly 23 percent on Oct. 19, 1987.
Published by Reuters

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posted by Stock Administrator @ 3:55 PM   0 Comments

Jim Cramer's Stop Trading Oct. 18th

Sun Trust (STI), PNC (PNC), Bank of New York (BK), State Street (STT), Bank of America (BAC), JP Morgan (JPM): Cramer was impressed with STI's earnings report which, along with results from second-tier banks such as PNC, BK and ST, indicate "not every bank is going down." After a 31% drop in BAC's earnings, Cramer said "I believe in Ken Lewish [the CEO.]" Cramer blamed massive writeoffs in home equity loans, a widespread problem, for BAC's decline and discussed the bank's successful investments in China. Cramer was less enthusiastic about CEO of JPM, Jamie Dimon, whose performance was not as bad as that of other CEOs, but Cramer called this remark "damning with faint praise."
Published by SeekingAlpha

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Jim Cramer's Lightning Round Oct. 18th