Cramer's Lightning Round - Baker Hughes' Monster Good Deal (9/17/09)

Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Thursday September 17.

Bullish Calls:

B&G Foods (BGS): "Well, they did that equity offering.. I did not necessarily want the equity offering… but, look it yields 8%… it is a stable business."

Stanley Works (SWK): "At this point, Stanley Works and Black and Decker have had such unbelievable moves that I would like them to cool 10%… but Stanley Works is very real run… the end market for housing has come back."

Baker Hughes (BHI): "I think that Baker Hughes/BJ Services deal is a monster good deal for Baker Hughes… I have always liked Baker Hughes the company. I salute both of them."

Potash (POT), Terra Nitrogen (TNH): "You know I like the 8% yield… but remember, what I did was I switched horses and said buy Potash… I did say buy right here, $94, $95... it is still right here… I need you to be in Potash for capital appreciation… TNH for dividend protection."

BP (BP): " I'm not a seller here. I think it goes higher. Why?... Because it is still the best yielder in the group… they still have a lot of disposition today… it yields 6%… they are a better company than they used to be… I think BP is hot."

STEC (STEC): "Oh man, you are talking about D rams, you are talking about allocation, you are talking about a stock that is going higher… you are talking about red hot STEC and I want to own some myself."

Boeing (BA): "Well, I do not want you to let go right now… they are about to ship the Dreamliner… it does have a 3% yield… I think that you are fine… let’s ride it to $56, $58 and then take another look at it."

Bearish Calls:

Las Vegas Sands (LVS): "Las Vegas Sands is very speculative… it is a stock that has already quadrupled."

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Comments

[Cramer #1:]

Hey JIm....BAC with FBI now??

FBI, DOJ investigating BofA's Merrill deal: report


FBI, DOJ investigating BofA's Merrill deal: report
On Friday September 18, 2009, 11:19 am EDT
Buzz up! 5 Print.NEW YORK (Reuters) - U.S. authorities are
conducting a criminal probe into Bank of America Corp's purchase of
Merrill Lynch, the Charlotte Observer reported on Friday.

Reuters - Pedestrians walk past a Bank of America branch in New York
May 8, 2009. REUTERS/Lucas Jackson ...
The investigation is being conducted by the U.S. Department of Justice
and Federal Bureau of Investigation and has been underway for six
months, the newspaper said.


The scope and potential outcome of the probe are unknown, it said.


Scott Silvestri, a Bank of America spokesman, declined to confirm the
newspaper report. However, he told Reuters the bank has provided
thousands of documents to various government entities and there was
"no basis for charges against the company or individuals on the
management team."


In recent filings with the Securities and Exchange Commission, the
bank disclosed that it was cooperating with various investigations
from "governmental authorities" but gave no specifics.


A spokeswoman for the Justice Department declined to comment. An FBI
spokeswoman declined comment and would neither confirm nor deny that
investigation was underway.


A federal criminal probe would be a new wrinkle in a year-long wave of
legal problems for the largest U.S. bank, which is based in Charlotte,
North Carolina. Bank of America has been subject to a wave of civil
litigation since it purchased Merrill Lynch on January 1.


The SEC and the attorneys general of New York and North Carolina are
investigating whether Bank of America failed to disclose to
shareholders Merrill Lynch's operating losses and bonus payments
before the merger was approved.


Bank of America shares were up 9 cents at $17.70 in morning trading on
the New York Stock Exchange.


(Reporting by Joe Rauch; additional reporting by Elinor Comlay;
editing by John Wallace)

Sep 18 01:38 PM

[einstein p ...:]

With BAC under investigation and the majority of C owned by the government, does that mean that C will become the new bank of America?

Sep 21 09:03 PM