Stop Trading!
Jim Cramer's 'Stop Trading!': Buy Costco
TheStreet.com Staff
07/23/08 - 03:27 PM EDT
Buy Costco(COST Quote - Cramer on COST - Stock Picks), Jim Cramer said on CNBC's "Stop Trading!" segment Wednesday. Cramer said it has been "really hurt by the supplier" and that he sees it as a buy. It is "very rarely put on sale," he said, and investors should think long-term.
As for news about XM Satellite Radio(XMSR Quote - Cramer on XMSR - Stock Picks) and Sirius Satellite Radio's (SIRI Quote - Cramer on SIRI - Stock Picks), Cramer said that the merger is "going to be a powerhouse." However, he mentioned, investors have to be careful because it will have to refinance. When host Erin Burnett inquired if satellite radio will survive, Cramer said that the facts indicate that "people do like the product." "I am willing to speculate with Sirius," he said.
Next, Cramer touched on XTO Energy(XTO Quote - Cramer on XTO - Stock Picks). "XTO does a deal tonight," he predicted. He said the stock has fallen almost 40 points and that "for even a trade, I'd participate in the darn thing."
Moving on to Hudson City Bancorp(HCBK Quote - Cramer on HCBK - Stock Picks), Cramer said that the reason this New Jersey-based bank doesn't have a lot of bad loans is that "New Jersey does not have a lot of bad loans." It "makes you put down a lot of money," he said, and it's hard to walk away from that.