Jim Cramer's 'Mad Money' Recap: Step Aside, Washington
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NEW YORK (TheStreet) -- We need to celebrate American business more, Jim Cramer told his "Mad Money" viewers Wednesday. Cramer said today we saw just what the market can do when Washington gets out of the way.
There was positive news all over the market, Cramer noted, including positive drug trial data for Regeneron (REGN), which saw its shares rise 5.9%. We also received the best auto sales data in two years, he noted, something that will play well for Ford (F), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, and General Motors (GM).
Executive Decision: Beth MooneyIn the "Executive Decision" segment, Cramer spoke with Beth Mooney, chairman, president and CEO of KeyCorp (KEY), the Ohio-based regional bank that just reported a five-cents-a-share earnings beat on in-line revenue, helped in part by an increase in net interest margins. Shares of KeyCorp are up 30% since Cramer last spoke with Mooney at the end of January. KeyCorp is currently an Action Alerts PLUS holding. Mooney painted a positive picture of KeyCorp and its business, saying that the bank was able to increase loan yields, reduce interest liabilities and manage its liquidity better, all of which helped its bottom line. "We're not seeing a slowdown," she continued, noting that KeyCorp has been able to take market share from its competitors, as evidenced by an 11% increase in commercial loan growth.
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