Cramer's 'Mad Money' Recap: GE a Good Thing for Stocks
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General Electric's (GE) solid second-quarter results bode well for the rest of the market, Jim Cramer told viewers Friday night on his "Mad Money" show.
Though he couldn't tell his CNBC viewers what to do specifically with General Electric -- because Cramer works at CNBC, which is owned by General Electric -- he did give his audience plenty of other names that could benefit from GE's strength.GE Energy's solid results bode well for Calpine (CPN) and Dynegy (DYN), Cramer said. GE Transportation? That's good for Trinity Industries (TRN). But what about the fact that transportation and energy stocks shouldn't both do well at the same time? The textbooks, Cramer said, say that both should not work at the same time. But forget what the textbooks say. They're both working in this environment. GE's plastics business? Buy Dow Chemical (DOW). The company to own because of GE Financial's results? CIT Group (CIT). GE Aviation? Own Boeing (BA). GE Health? Varian Medical Systems (VAR), even though the company competes head-on with General Electric. Cramer thinks that business is so good that everyone can win. Doing a little housecleaning, Jim Cramer got back to Symbol Technologies (SBL), which he recommended buying on Wednesday. On Thursday after the bell, however, the company warned that business isn't doing so well. As a result, it lowered its financial guidance. The stock fell almost 11% on Friday. But Cramer thinks the story at Symbol is still intact and does believe that a CFO change made a lot of sense. The company has lowered its guidance several times over the past nine months. And if Symbol can't get its house in order, it will have to go up for sale, Cramer continued. At the end of the day, though, Cramer said that the stock won't go down much more on this guidance. Does Cramer wish that he held the stock in his charitable trust fund? "Yes. I wish I still owned Symbol Technologies," he said.
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