Cramer's Stop Trading! Geithner Puts a Lid on Financials (6/3/09)

Stocks discussed on Cramer's Stop Trading! TV Segment, Wednesday June 3.

PNC Financial (PNC), US Bancorp (USB), Joy Global (JOYG), Bucyrus International (BUCY), Nucor (NUE), U.S. Steel (X)

Treasury Secretary Tim Geithner is giving mixed messages about banks repaying TARP funds and raising capital, and Cramer suggests the government give specific guidelines to companies on how to rid themselves of debt. Cramer said the Treasury Secretary is "putting a lid on" PNC and USB, which is a mistake because the two banks are "excellent."

In spite of predictions that revenues in 2009 will be in the lower half of its projections, "all systems are go" for Joy Global, according to Cramer, who says the company tends to be a bit conservative. He recommended both Joy Global and Bucyrus after the Energy Secretary's endorsement and demand from China.

Cramer is bullish on Nucor because he likes its CEO Dan DiMicco and its dividend. He also approves of U.S. Steel's secondary offering.

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Comments

[Victhom:]

Hey Jim you say to avoid Barclays (BCS) and Nomura Analysts.....just says the opposite....to buy Investment Banks like Barclays...Goldman Sachs...Morgan Stanley...and avoid Commercial Bank...like Bank Of America...JP Morgan....etc...

Explain this JIM???

www.cnbc.com/id/31091877

Jun 04 10:29 PM

[Freemoney F...:]

Bcs..Barclays is on its way up!..should go higher!

..Jim, good call on JOYG..I made 200% [$60-c option]

Jun 07 08:19 PM