Cramer's Stop Trading! Hey Hewlett-Packard, Get Off of My Cloud (5/17/11)

Includes: FCX, HPQ, SLB
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Tuesday May 17.

Hewlett-Packard (NYSE:HPQ), Freeport McMoRan (NYSE:FCX), Schlumberger (NYSE:SLB)

Cramer says Hewlett-Packard (HPQ) might "just go away." It keeps declining, investors keep insisting it is a buying opportunity, but it doesn't stop its steady decline. The turnaround is not forthcoming because there are structural problems with the company, and a new CEO won't matter. HPQ says it is going to expand into cloud computing, but Cramer's response is, "Hey, you, get off of my cloud."

Many shareholders can't seem to take the pain in Freeport McMoRan (FCX), but Cramer believes the stock is closer to a bottom than a top. It might have another leg down, but FCX is a good long-term story. Schlumberger (SLB) is a buy because it is levered to production and not oil futures. Even if there is a temporary slump, SLB has substantial long-term projects and the drive to drill will only increase.


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