Recap of Jim Cramer’s comments on Stop Trading! Tuesday Aug. 8. Click on a stock ticker for more analysis:
Pepsi (NYSE:PEP) and General Mills (NYSE:GIS): In spite of greeting the Fed's decision to leave interest rates alone for the time being, investors are still fearful of a hard landing and are picking up defensive stocks, such as PEP and GIS. "We're buying Cheerios for the recession," comments Cramer.
Brocade (NASDAQ:BRCD) and McData (MCDTA): Cramer noted remarks made by Brocade's ex-chairman, Gregory Reyes, who was indicted on stock-option backdating charges, that McData was a poorly managed company and was "worst in show." Tuesday's announcement of Brocade's $713 million stock-swap merger with MCDTA brought MCDTA's stock higher but led to a 19% selloff for BRCD. "I think its funny," comments Cramer.
More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.
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