Cramer's Stop Trading! Transocean Avoids Terex's Fate (2/12/09)

Stocks discussed on Jim Cramer's Stop Trading! TV Program, Thursday February 12.

Google (GOOG), Kohl’s (KSS), Research in Motion (RIMM), Transocean (RIG), Freeport McMoRan (FCX), Terex (TEX)

Even though Google has been holding up fairly well in the current crisis, it is too high, since the internet search king is still a “hostage’ to advertising; “I think Google’s doing better than a lot of others,” Cramer said, “but it’s not enough.” Cramer says Research in Motion is in a similar kind of situation, especially with its worse than expected pre-earnings announcement.

Cramer agreed with Goldman Sachs downgrade of Kohl’s and said the valuation is very stretched. Transocean has been trending up in spite of low oil prices which Cramer thinks are artificially depressed. “Oil could pop,” he predicted.

Cramer applauded Freeport McMoRan’s move to issue a secondary to pay its $750 million debt. This will help it avoid Terex’ fate when it couldn’t get its balance sheet sorted out.

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Comments

[Alphameister:]

Was it yesterday that Cramer was saying RIG should drop? But today RIG is fine and oil could pop? Well, it was a windy day yesterday in NY!

Feb 13 09:10 AM

[PeteK:]

Well, oil did pop back up a few bucks.
The thing is, he got confused sometime.
That's the problem with him.

Feb 14 05:16 AM

[JackaLoupe:]

Fire yer HeadLine Writer, who conflated a positive mention of RIG with FCX;s secondary offering, which "avoids Terex' (sic) fate".

BTW, even a "MoRan" knows ya needs a li'l 's' to form the plural, even when a word ends in 's' (or 'x')

Feb 17 12:39 PM