Cramer's Lightning Round - Transports Are on Life Support (2/25/09)

Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Wednesday February 25.

Bullish Calls:

IBM (IBM): “I am bullish on IBM… they had a great quarter… they are buying back stock… now a lot of people say, hey listen the chart looks like it is rolling over I like the company… I am recommending it.”
Nucor (NUE): “NUE we recommended it at $28, $29… it is an accidentally high yielding stock, it then shot up to the mid $40’s where we said sell, sell, sell… when it gets back to $28, $29 we will pull the trigger..”
PPL Corp (PPL): “PPL, I like…I don’t like it as much as Exelon Corp.”
Exelon (EXC): “Exelon’s got good growth.”
Con Edison (ED): “I like Consolidated Edison (more than PPL Corp.)”
KBR (KBR): “KBR is cheaper (than Foster Wheeler) because it has got a lot of cash.”

Bearish Calls:

CSX (CSX): “…the transports they are just on life support… they could go lower… CSX, Michael Ward, good company… I say it is going lower.”
Fluor (FLR): “Tough call… infrastructure clearly going lower… but Fluor just delivered a good quarter… I am going to have to say… don’t buy, don’t buy… that group has just had it.”
Foster Wheeler (FWLT): “Foster-Wheeler reported a bad quarter… it really has crushed me… I have owned it for years. I should have sold it all…I blew it.”

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Comments

[Gravity404:]

Ok, let's mark it for future reference. After hyping for several years, Cramer is saying sell FWLT at 13.83. Let's watch this now.

I am saying buy it here.

The winner gets a show on CNBC. If I win, I want one on Bloomberg.

Feb 26 11:01 AM

[baumdtaunk:]

no he said he should've sold it all before the quarter, but he would not sell it here. words are completely taken out of context. watch the show.

Feb 26 03:12 PM

[einstein p ...:]

Cramer owned up to a mistake, which he seems to have to do more and more these days. It's a tough market. If he sold it all before the quarter, he would have sold it at a loss since he recommended the stock significantly higher. The infrastructure package that we all expected from Obama hasn't materialized yet and the CEO made matters worse by talking down 2009 during the conference call --- something he's done in the past and it's always been a buying opportunity.

The company has 1B in cash, which comes to about $9.50 a share. The company is booking business and making money, even if growth has slowed. At this multiple, slower growth seems to have been baked into the price. I took a position 14.25 and continued to buy as it dipped below 14. It's a good price to build a core position, to trade around and build on for the long term.

Mar 01 01:52 PM

[bassmaster17:]

Are the hedge funds done selling CSX yet???

Mar 08 12:05 AM