Cramer's Mad Money - The Glorious Employment Number (8/7/09) 4 comments
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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Friday August 7.
The Glorious Jobs Number
The market keeps sending mixed signals, and there may be good reason to doubt the recent rally. Cramer has warned that any bullishness in the market should be canceled if unemployment keeps rising, but he said Friday's job number was "glorious" and was a positive indication that the economy is getting better rather than merely less bad. He advised viewers not to second-guess the rally and to continue to expect a recovery.
ON Semiconductor (ONNN) CEO Keith Jackson
Cramer invited ON Semiconductor CEO Keith Jackson back to Mad Money to discuss the company's strong earnings report and its 31% rise since Cramer last featured ON. Jackson reported that spending cuts are paying off, and the company might be in a position to hire back some of its workers. The Chinese stimulus and German demand is fueling the company, as well as the wireless revolution, which is creating more opportunity in gaming and telecommunications. ON makes power-control chips for almost every kind of device, and ON is even seeing more demand in its automotive business.
IESI-BFC (BIN), Waste Management (WMI), Republic Services (RSG)
Why is Cramer looking to Canada for a play on American trash? He has recommended American companies like Waste Management and Republic Services in the past for their stable dividends, but what edge does a Canadian company have over its American counterparts? After just a few years since BIN expanded into the U.S, it already generates the majority of its revenues from the States and is a buy because it has room to grow. BIN is planning some acquisitions, and while its business is dirty, BIN's balance sheet is clean.
Mad Mail: Bank of America (BAC), Chicos (CHS), Patriot Coal (PCX), Applied Materials (AMAT)
Cramer approved of a federal district court judge's decision to postpone a $33 million fine against Bank of America, and he said the shareholders should not have to pay the penalty for mistakes made by management. He said Chicos did not go higher after its successful earnings report because the move was made on anticipation of good news. Cramer thinks Patriot Coal is going to take a breather, but Applied Materials is just getting ready to run.
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This article has 4 comments:
It's funny how the same "geniuses" who didn't see the recession coming are the same geniuses who can now predict when it will end.
As far as investment advice, I steer clear. Besides, if he has keen insight, why isn't he still running a hedge fund, now? The market volitility is likely producing huge profits for clever hedge funds. If he was truly attuned to the machinations of wall street, we'd have never learned his name as he would have made a fortune and retired to the life of Riley. Since he has not been able to achieve this for himself, I am reluctant to follow his adamant advice, now. Plus, quite simply, he is wrong a lot.