Thursday's Real Money show was a rebroadcast of a program that aired on August 11, 2006.
Conference Call Analysis: Sprint Nextel (S), Energizer (ENR) - Cramer answered a caller's question concerning what to watch out for in a conference call, and gave the example of the Sprint Nextel call during with the executives intially painted a rosy picture only to have the image shattered during the Q&A session. Cramer also looks for guidance, and says that more is usually better. Concerning buybacks, Cramer says that these usually is a sign of confidence, but says that companies like ENR use buybacks to raise the bar; "That shows false growth, so be careful," he warned. "I also like to hear about what pace of acceleration or deceleration the revenues are at," he said, "Accelerated growth is fantastic."
Matchmaking Banks: Procter & Gamble (PG) and Gillette - Cramer says that "A company wants to grow when it feels its current growth is tapped," and goes to investment banks to make the match. For example, PG does not reach out to Gillette, but there is a middleman involved in the acquisition.
IPO Guide: MasterCard (MA), iRobot (IRBT) - Cramer says that IPOs are good when they come from companies early in the business cycle, and notes the success of MC, a company few people had confidence in, but which has won big. "I look for out-of-the-way stuff that could work," Cramer says, and gives the example of IRBT, an IPO he saw grow gradually when he was hedge fund manager. He also likes companies, such as banks, that "gingerly" go public. Cramer suggests looking for IPOs in aerospace, but to avoid biotech or tech.
Foreign Exchange: Tata Motors (TTM), Wipro (WIT), America Movil (AMX), Bancolombia (CIB), Homex Development (HXM), Colgate (CL) - Concerning foreign IPOs, Cramer stays away from China, because they do not have a Securities and Exchange Commission, and only insiders succeed. He prefers the Indian market, and would pick up any consulting company there, Tata Motors, India's largest car company, or Wipro as a speculative play. Latin American plays Cramer likes include: AMX, CIB and HXM. He also mentions that Colgate has significant exposure in Latin America.
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