Google's Hiring Binge - Cramer's StopTrading! (4.11.08)

Recap of Jim Cramer’s comments on Stop Trading! Friday April 11. Click on a stock ticker for more analysis.

General Electric (GE), CIT Group (CIT), National Oilwell Varco (NOV): The biggest loser from GE’s disappointing quarter is CIT Group, and Cramer says the company is “dead in the water.” Given the success of GE’s wind power business, Cramer predicts alternative power is where the growth is, but he still likes oil stock NOV.

Advanced Micro Devices (AMD), Google (GOOG), Intel (INTC): Cramer says tech is “just awful” and is puzzled that investors are actually retreating to the sector for safety rather than finding refuge in defense stocks. He said Intel is “dead money” and remarked if he were a customer of AMD, he’d call Intel for backup. Cramer doesn’t have hope for Google when Microsoft, Yahoo and News Corp are getting together to break the dominance of the internet giant. He also discussed Google’s regrettable business model which accommodates the company’s “hiring binge.”

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Comments

[NormanLepoff, M.D.]

Anyone remember when Cramer predicted that tech was the place to be? These stocks are the ones he used to rave about. All were much, much higher when he said buy, buy, buy. Cramer is horrible and I do not know why CNBC keeps him on the air.

[AmesTiedeman]

Tech is awful...? All companies will be awful! Earnings will be horrible in most sectors all year long. Energy and some commodity companies will see good earnings.

[globalmacro]

HAHA. One of Cramer's primary predictions for 2008 was Google $1,000 per share. You're right, he's a great entertainer but awfully wrong at important turning points. Funny thing is, it still looks like Google could find its way back in to the 600-700 range sooner than later. But Cramer will have flip-flopped so many times before it reaches $1,000 that his original prediction won't mean anything.

[NormanLepoff, M.D.]

INTC up 6% today. Is this "dead money?" Do not listen to Cramer!!!!

[NormanLepoff, M.D.]

AMD was a Cramer "buy, buy buy" at 27. Anyone remember? Now it is a "sell, sell sell." Imagine how much money a person would have lost by listening to Cramer.

[AmesTiedeman]

Looks like he was wrong on GOOG once again.

[AmesTiedeman]

AMD is a turn-around story for the ages.