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By Jim Cramer
Subject: Jim Cramer's Action Alerts PLUS -- ABT
Friday, May 16, 2008 12:31 PM EDT
Dear Action Alerts PLUS Subscriber,
Earlier in the week, I began a position in Abbott
Laboratories (ABT:NYSE). Given the weakness in the stock
today, I will add 500 shares to my current position after
you receive this Alert.
Just to recap the thesis behind this position, the reason I
bought the stock is because of the company's broad
pharmaceutical product portfolio as well as its exposure to
other business lines with its diagnostics, nutrition and
vascular products.
Specifically, I believe within Abbott's pharmaceutical unit
the drug for rheumatoid arthritis, Humira, has significant
growth potential and could become a blockbuster drug for
the company. In addition, its new drug-eluding stent,
Xience, received favorable results earlier in the week and
could be the stent of choice down the road.
With the stock pulling back with the rest of the market, I
am going to add 500 shares to the position, a purchase
that will give me a total of 2,700 shares, or 3.7% of the
portfolio.
Regards,
Jim Cramer
DISCLOSURE: At the time of publication, Cramer was long
Abbott Laboratories.
Send email to james.cramer@thestreet.com.
