Cramer's Stop Trading! It Doesn't Matter What Intel Says (1/14/11)

 |  Includes: BAC, C, INTC, JPM, MGM, NVLS-OLD, PNC
by: Miriam Metzinger

Stocks discussed on Jim Cramer'Stop Trading! TV Segment, Friday January 14.

JP Morgan (NYSE:JPM), Citigroup (NYSE:C), Bank of America (NYSE:BAC), MGM (NYSE:MGM), Intel (NASDAQ:INTC), Novellus (NASDAQ:NVLS-OLD), PNC Financial (NYSE:PNC)

Concerning Citigroup's (C) upcoming earnings report, Cramer warned, "Don't buy the stock thinking you are going to get good news on Tuesday." While Citi recently broke $5 and Cramer's target for the end of 2012 is $12, the bank's stock might see a short-term setback after JP Morgan (JPM) wrecked the curve with its stellar earnings last week. Both Citigroup and Bank of America (BAC) might suffer in comparison to JP Morgan, which excelled thanks to its net interest margins. On that metric, Cramer would buy PNC Financial (PNC) which can offer a generous dividend and, like JPM, is levered to net interest margins.

Cramer said Goldman Sachs' grudging upgrade of MGM (MGM) from "sell" to "hold" is "better late than never." MGM has completed huge refinancing and "so many things are going right. MGM has been Cramer's "favorite speculation and favorite turnaround stock" and his target is $20. However, at that level the analysts will only succeed in making it a "super duper hold" and only when it reaches $25 will they finally give it a "buy" rating. "That would mean real value," Cramer said sarcastically.

Numbers are too low for Novellus (NVLS-OLD) which is Cramer's "favorite semi" up 10%. The CEO, Richard Hill, who had been bearish made some hopeful remarks before the stock jumped; "When the CEO says he's not as bearish as he was, you should listen."

Finally, no one cared about Intel's (INTC) strong quarter because ultimately "It doesn't matter what Intel says," said Cramer. The Street will always put it down.


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