Cramer's Stop Trading! Yet Another Reason to Sell Hewlett Packard (8/23/10)

by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Monday August 23.

Goldman Sachs and Citigroup were talking up JM Smucker (NYSE:SJM) and Williams Sonoma (NYSE:WSM), but didn't upgrade either stock; Cramer blames the "bearishness of the market" for the stinginess with upgrades. While WSM delivered a "beautiful quarter," it didn't receive nearly enough attention. Cramer says he sees this trend in other sectors too and finds the frequency disturbing.

“If you needed one more reason to sell Hewlett-Packard (NYSE:HPQ),” Cramer said, “they just keep giving them to you.” What's the newest reason? HPQ made a bid for 3PAR (NYSE:PAR) that was $6 higher than Dell's (NASDAQ:DELL). The fact that Hewlett is doing this without a replacement CEO in place is ill-advised.

After hearing an interview with Time Warner (NYSE:TWX) CEO Jeffrey Bewkes, Cramer has changed his mind about the company and is now bullish.


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