Jim Cramer's Mad Money. 2/25/08: Sirius Miscarriage of Justice

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, February 25. Click on a stock ticker for more analysis:

Sirius Satellite Radio (SIRI) XM Satellite Radio (XMSR)

Cramer called the delay in approving the merger between SIRI and XMSR a “gross miscarriage of justice” and blamed Congress, which still hasn’t reached a conclusion after numerous meetings on the issue. If the merger is not approved, both companies may be in danger. Given competition satellite radio faces “from both terrestrial radio as well as from Apple's iPods and other MP3 players,” there is no reason to prohibit the merger, said Cramer, who says pressure and campaign contributions from the National Association of Broadcasters may be a factor; “Terrestrial radio is holding onto their dying business model and just won't let go," Cramer said, and he invited any member of Congress to appear on Mad Money and explain the merger’s delay.

Related: Tyler Savery says the Antitrust Institute Petition against the SIRI/XMSR merger lacks substance.

Millicom International Cellular (MICC)

Cramer says wireless is a great moneymaker in the developing world and Millicom is beating the major telecom companies, such as Verizon and AT &T, in building cell phone towers across Asia, Africa and South America. "Even without electricity, many people in the developing world have cell phones," Cramer said. Millicom uses pre-paid calling cards, bills by the second rather than by the minute, recently saw a 41% increase in sales and offered a special dividend of $2.40 per share.

Related: Tradermark comments on MICC's mixed results.

CEO Interview: Bob Simpson, XTO Energy (XTO)

Bob Simpson says the future looks bright for natural gas, which he says is a cleaner fuel than eco-darling ethanol, and trades at a mere $9 compared to its value of $16. Since natural gas is produced domestically it “helps keep us free” from foreign oil. The company beat estimates by 4 cents a share and raised guidance for 2008. XTO also reported a 292% replacement of natural gas reserves. Simpson foresees aggressive consolidation in the sector for 2008, and is ready to make beneficial acquisitions.

Ron Zwanziger, chairman and CEO of Inverness Medical (IMA)

While Cramer says IMA has been a great stock, it has recently “run into a brick wall” and has been cut in half on its plans to acquire Matria. Zwanziger pointed to IMA’s history of successful acquisitions, and said he is thrilled with plans to buy Matria. “I have to think [investors] don’t understand it at the moment, and they panicked a little,” Zwanziger said. “When cool heads return, they’ll endorse it. And I think our shareholders will do very well.” Cramer begged to differ, and says IMA is costing shareholders money.

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