Cramer's Stop Trading! JP Morgan's Secondary a Bit Too Expensive (6/2/09)

Stocks discussed on Jim Cramer's Stop Trading! TV segment Tuesday June 2.

JP Morgan (JPM), Huntington Bancshares (HBAN), Fifth Third Bancorp (FITB), Key Corp (KEY), Strayer Education (STRA), Bridgepoint (BPI), Genzyme (GENZ), Celgene (CELG), Gilead Sciences (GILD)

Cramer said JP Morgan's secondary offering was a tad too rich at $35; if it were just a dollar lower at $34, "We would be seeing a major bank rally." He thinks Huntington Bancshares is a good speculative stock and is better than Fifth Third or Key Corp.

While Strayer is the star education stock, Bridgepoint is the neglected name in the sector, said Cramer, and it has the advantage of being below the government's radar.

Since biotechs like Genzyme, Celgene and Gilead have been "hammered mercilessly" Cramer expects a few days of upside before investors go back into iron and steel stocks.

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Comments

[apppro:]

Cramer is such a piece of work! He calls for everyone to buy JPM and a target price of $60.00 Then for some godforsaken reason he's quibbling over a sticken' buck!!!!!!!!!!!!!!!!!

Jun 03 07:44 AM

[mb2:]

I used to like him. It took me a while to see through his dog & pony show & realize that he's like 3/4's of the rest of the so-called market experts - he can't make it as a trader, so, he sells his b.s. to others...


On Jun 03 07:44 AM apppro wrote:

> Cramer is such a piece of work! He calls for everyone to buy JPM
> and a target price of $60.00 Then for some godforsaken reason he's
> quibbling over a sticken' buck!!!!!!!!!!!!!!!!!

Jun 03 11:08 AM

[Victhom:]

Hey Jim.....Barclays (BCS) trades at P/E of 4.83
you said sell in march at $2.75 I bought 25000 shares sold them at $21 this monday....I made a killing with your call....and now....

I'm buying back BCS again on your downgrade thanks again....Jim...you make my life easier...and Barclays will sell BGI division $12B by June 18 and restart dividend in Q3...when JPM at PE of 20 after much more "DILLUTION" will pay dividend???

Barclays May Sell BGI for as Much as $12 Billion, WSJ Reports

By Dan Hart

May 16 (Bloomberg) -- Barclays Plc, the U.K.’s third- biggest bank, is in talks to sell its asset management unit for as much as $12 billion, with BlackRock Inc. among interested bidders, the Wall Street Journal said, citing unidentified people familiar with the matter.

The business includes the exchange-traded funds unit iShares, which Barclays agreed to sell to CVC Capital Partners Ltd. for $4.4 billion two months ago, the newspaper said.

The iShares and securities-lending units each generate as much as a third of the profit for the Barclays Global Investors subsidiary, the newspaper said, citing a person familiar with the situation. BGI had a pretax profit of 595 million pounds ($903 million) in 2008, the Journal said.

Barclays does not comment on speculative stories, a company spokeswoman in London said when contacted by Bloomberg today.

To contact the reporter on this story: Dan Hart in Washington at [e-mail]

Jun 03 11:11 AM

[Victhom:]

Wednesday June 3, 02:51 PM
Qatar fund says remains supportive of Barclays
DUBAI, June 3 (Reuters) - Qatar Holding, a division of sovereign wealth fund Qatar Investment Authority, on Wednesday said it remained a supportive shareholder in UK bank Barclays (LSE: BARC.L - news) .

'Qatar Holding remains a supportive shareholder in Barclays, which it regards as a world class bank, led by a board of directors and a professional managment team for which it maintains the utmost respect,' said Ahmad Al-Sayed, managing director and CEO, in a statement.

The statement comes one day after an Abu Dhabi fund sold more than 11 percent of Barclays.

'Qatar Holding, moreover, regards Barclays as a valued commercial and strategic partner particularly in the Middle East markets and expects to build on this fruitful relationship over the long term,' according to the statement, which was read by a spokesman for the holding company.

(Reporting by Thomas Atkins; Editing by Jason Benham) Keywords: BARCLAYS QATAR/

Jun 03 11:13 AM

[optionsgirl:]

As if these banks really are on the road to recovery. While the sub-prime mortgages are pretty well behind us, we will see a huge rise in jumbo mortgage defaults, defaults when ARMs reset, etc. There is still a world of pain to come. Another half million jobs lost? Don't worry, be happy.

Jun 03 01:29 PM

[Victhom:]

www.cnbc.com/id/31091877

Jim look at Nomura analyst call....

Jun 04 10:31 PM