Recap of Jim Cramer's radio show on Monday November 6. Click on a stock ticker for more analysis:
Gregg Greenberg and Farnoosh Torabi covered for Jim Cramer on Monday's Real Money Radio Show.
Chevron (NYSE:CVX) and Exxon (NYSE:XOM) - Discussing Cramer's prediction that California voters will support Proposition 87 which will put a special tax on oil producers, Greenberg and Torabi noted that CVX will be affected, since it is the largest oil producer in the state. However, they noted that a higher tax will ultimately be unfeasible because it will encourage companies to stop looking for oil. "Oil companies are making money because of demand from India and China. It's not Chevron's fault," Greenberg added, and suggested picking up Chevron after the initiative passes and brings down the stock. In addition to CVX's oil discovery in the Gulf of Mexico, "it has biggest earnings upside surprise." He reiterated Cramer's praise of CVX's marketing techniques, its generous 3% dividend and its long term prospects. In addition, the stock is cheaper than Exxon.
Wal-Mart (NYSE:WMT), CVS (NYSE:CVS) and Caremark (CMX) - Greenberg and Torabi said that Big Pharma may be affected if there will be a Democratic sweep. Greenberg applied his statement about oil to pharma: "If you steal profit away from big pharma, they are not going to look for new drugs." Torabi observed that "prices are coming down" in stores like Wal-Mart and that the recent CVS acquisition of Caremark was a stategy to compete more effectively with Wal-Mart. Torabi predicted the Democrats may raise the minimum wage, a move which will put pressure on Wal-Mart and, on a general note, Torabi suggested watching the dollar, and noted its weakness against the euro and the yen.
Sonoco (NYSE:SON): 'You might want to sell packaging company Sonoco, take the losses and switch into an oil exchange-traded fund," Greenberg said.
Ingersoll-Rand (NYSE:IR): Greenberg notes that this stock was hurt by the last GDP number. "If the economy picks up, then you'll see this stock do well."
Sirius Satellite Radio (NASDAQ:SIRI) and XM Satellite Radio (XMSR): Greenberg noted that both companies are "trading up" but agrees with Cramer that these companies need to merge. Until they join forces, their gains are just "dead money."
MasterCard (NYSE:MA): There is a high short position on MA, says Greenberg who would sell it here rather than buying because it is a bit expensive.
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