Cramer's Stop Trading! Banking on Regionals (6/12/09)

 |  Includes: FITB, HBAN, MI, PALM, PPG, RSH
by: Miriam Metzinger

Stocks discussed Jim Cramer's Stop Trading! Program, Friday June 12.

Huntington BancShares (NASDAQ:HBAN), Fifth Third Bancorp (NASDAQ:FITB), Marshall & Isley (NYSE:MI), Radio Shack (NYSE:RSH), Palm (PALM), PPG Industries (NYSE:PPG)

Even though financials have been weak, Cramer would play the recovery of banks that seemed doomed. Huntington BancShares, Fifth Third Bancorp and Marshall & Isley have been making money on their secondary offerings. “It’s really rather extraordinary how these deals all worked,” he said.

Cramer reiterated a short-term trade on RadioShack on the transition from analog to digital on Friday. While most people were prepared for the change, Cramer thinks there will be some stragglers who will need to make new purchases in a hurry. Radio Shack is also benefiting from sales of Palm's Pre Smartphone and Cramer also thinks Palm is a buy.

Cramer reiterated his bullish recommendation for PPG Industries and explained that when industrials pick up, that is good news for the economy at large.


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