Stop Trading!
Cramer's 'Stop Trading!': Buy Jones Apparel
TheStreet.com Staff
04/30/08 - 02:57 PM EDT
Buy Jones Apparel (JNY Quote - Cramer on JNY - Stock Picks), Jim Cramer said on CNBC's "Stop Trading" segment Wednesday.
"[Jones CEO] Wes Card has put it together," Cramer said. "Great quarter, big dividend, accelerated buyback, huge Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks) contract, $15!" He also said he likes J. Crew (JCG Quote - Cramer on JCG - Stock Picks) and Phillips-Van Heusen (PVH Quote - Cramer on PVH - Stock Picks).
"I'm liking this tape," Cramer said of broader market action. "The institutions are free to mark up. ... Watch em rip."
Cramer said he liked earnings reports from several companies, including Ingersoll Rand (IR Quote - Cramer on IR - Stock Picks), which he praised for getting away from cyclically sensitive business. The stock is "still down huge," he said, but "the company is now smoking." He said he liked Ingersoll's climate control business.
Cramer was less bullish on Kraft (KFT Quote - Cramer on KFT - Stock Picks), although the company has weathered consumer headwinds. He prefers General Mills (GIS Quote - Cramer on GIS - Stock Picks), he said.
"I have to tell you that we are in the throes of an earnings renaissance," Cramer said. He pointed out bullish action in shares of Cummins (CMI Quote - Cramer on CMI - Stock Picks). "Where is the recession by the way?" he said.
"JPMorgan (JPM Quote - Cramer on JPM - Stock Picks) and Goldman Sachs (GS Quote - Cramer on GS - Stock Picks) continue to go higher," Cramer pointed out. "They make a lot of money ... for their shareholders," he said of the companies' CEOs.
Cramer wondered why Wachovia (WB Quote - Cramer on WB - Stock Picks) wasn't trading lower on news of new charge-offs.