Jim Cramer's Stop Trading! Sitting on Citi
Stock quotes in this article:
KMB
"We want a banker" leading Citigroup (C Quote), Jim Cramer said Monday on CNBC's "Stop Trading!" segment.
Cramer said the only event that would make him buy the stock, which is up around 1% Monday afternoon at $55 and change, is Prince's departure. "Prince leaving is worth 5, and a breakup of the bank is worth 2," Cramer said, shrugging off Monday's announcement that longtime finance chief Sallie Krawcheck will take over as CEO of the bank's wealth management unit. Cramer said he'd like to see Citi lure Richard Kovacevich from Wells Fargo (WFC Quote) or Jamie Dimon from JPMorgan (JPM Quote). Kovacevich, Cramer said, is "America's greatest banker." Cramer said he likes Kimberly-Clark (KMB Quote), given that analyst estimates on the maker of Huggies and Kleenex are based on crude oil costing $70 a barrel, not the recent $51. Cramer also said that given the poor numbers out of Eaton (ETN Quote), Cummins Engine (CMI Quote) should be down more. Cramer said he likes the feel of Monday's market with American Express (AXP Quote) leading a charge in the financials. He said postclose numbers from "merchant of doom" Texas Instruments (TXN Quote) could set up a tech trade, though nothing more.- Loading Comments...
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