Recap of Jim Cramer's radio show on Friday September 29. Click on a stock ticker for more analysis:
The French Connection: General Motors (NYSE:GM), Renault, Nissan, DaimlerChrysler (DCX), Toyota (NYSE:TM), and Honda (NYSE:HMC) - While Cramer was at Georgetown University on his "Back to School" tour, TheStreet.com reporters Gregg Greenberg and Farnoosh Torabi were filling in and began the show discussing GM's proposed match with Renault and Nissan. Greenberg believes that wealthy GM shareholder Kirk Kerkorian is "forcing" CEO Rick Wagoner into this dialogue and that other auto mergers such as DCX have not worked as well as TM and HMC.
Related: John Bethel reports that the talks between GM and Nissan-Renault have been "bogged down."
Light Up: Altria (NYSE:MO), Kraft (KFT): - Altria and other cigarette companies were bearing the brunt of a class action suit because many smokers felt that they were misled into believing that that the word "light" on the label means that the cigarettes "won't kill you as fast." Although the judge granted class action on the case, Greenberg believes the case "will get thrown out in the second round of appeals" because the states which need revenues from cigarettes will never let tobacco companies take too much of hit. However, MO is taking this case seriously enough to put off its Kraft (KFT) spinoff.
Five of the Dumbest Things on Wall Street: Hewlett Packard (NYSE:HPQ), General Motors (GM), BearingPoint (BE-OLD), Comverse (NASDAQ:CMVT) and Apollo Group (NASDAQ:APOL) - Colin Barr, The Street.com senior editor who writes "The Five Dumbest Things on Wall Street" column shared his observations with Greenberg and Torabi. He says that that HPQ's spying scandal is the dumbest thing, particularly ex -chairwoman Patricia Dunn's refusal to take responsiblity. However Barr believes that CEO Mark Hurd is innocent and comments that "people are tired of hearing about it." The second dumbest thing according to Barr is that Kirk Kerkorian has been buying a lot of GM. His third comment was that people "don't have any real expectations" from technology consulting firm Bearing Point since the company was found to be in default and the stock is "getting clobbered." Fourth, former Comverse (CMVT) CEO Kobi Alexander tried to escape options backdating probes by running off to Sri Lanka and changed his "vacation plans" when authorities tracked him down there. finally, The Apollo Group (APOL) has paid $15o million to have the Arizona Cardinals' stadium named "The University of Phoenix" stadium although the University does not have a football team.
Any Questions: Yahoo (YHOO) and Urban Outfitters (NASDAQ:URBN) - Greenberg listed questions every investor should ask himself:
What price did you buy the stock? Is it high or low from its initial position? When did you buy it? How much of your portfolio is devoted to this stock? Are you diversified? Why did you buy this stock? What has changed since the purchase? Who are you? A trader or an investor?
Moving on to specific stocks, Greenberg said that although he liked YHOO's balance sheet and the fact that it is one of the "prime players" on the internet, the company lacks a catalyst. Concerning URBN he said that it is hard to know where teen fashion is going.
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