Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Friday February 29. Click on a stock ticker for more analysis:
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Cramer urged viewers not to lose heart after the huge Dow drop and to stay invested by looking overseas. He recommended four Brazilian stocks, Gafisa, PBR, RIO and AMX and continued his coverage of emerging market telecoms with Turkcell, which has 58% market share in Turkey and is expanding into other countries. Turkcell recently reported a great quarter with a 50% revenue increase, a 44% rise in profits and it beat its estimates by 8 cent a share. Cramer would wait for a dip to buy Turkcell below $24.
Special Guest, Representative Gene Green [D-Texas] on the proposed merger between Sirius Satellite Radio (SIRI) and XM Satellite Radio (XMSR)
Cramer, who has been pushing for the merger between SIRI and XMSR, invited Representative Gene Green to explain why he has opposed the merger and why a decision has been delayed for over a year. The Congressman said it boils down to competition, and the merger would be anti-competitive and would violate an agreement made by the companies on their initial contracts that they would not merge. Representative Green denies his opposition is influenced by campaign donations from terrestrial radio stations, and agrees with Cramer only in that he is confused why the decision is taking so long.
Cramer called Visa's IPO a gift in a bear market and would buy. He notes MA is up 313% since its IPO last year, and he thinks V might have similar success, since it has more market share in electronic payments: 62% compared to Mastercard's 32%.With the global switch from paper to plastic, both companies stand to gain, and neither will lose from the credit crisis, since people will always use their credit cards. Visa is expected to be priced between $37 and $42, and will be a better deal than Mastercard. Visa should also profit from its sponsorship of the Olympics and is not a captive to the U.S economy.
CEO Interview: Sean Boyd, Agnico-Eagle Mines (AEM)
Sean Boyd discussed AEM's plans to open five new mines which should quintuple the company's output. He added its Quebec mine also produces zinc, copper and silver commodities which should rise along with gold, currently at $1,000. Boyd agrees the yellow metal could reach $1,600 an ounce because of rising demand, dwindling supply and the weakening of the dollar. "AEM is for me," Cramer said.
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