Cramer's Game Plan
During the show's "Game Plan" segment, Cramer told viewers there are three things worth looking out for next week: two initial public offerings and a quarterly report. Veraz Networks is a telco equipment company going public next week under the ticker VRAZ. "I want you in this one," Cramer said. The IPO should price between $10 and $12, but Cramer said he would be willing to pay up to $14 a share for the stock. He advised getting into the IPO via its lead bookrunners, Credit Suisse and Lehman Brothers. The second IPO will be for Comverge, an energy technology company that will trade under the symbol COMV. This is an offering Cramer said he'd be attracted to if the bookrunners lowered the entry price. Its price range is currently $15 to $17, but Cramer said he can't endorse buying it for more than $12.50. Finally, Best Buy (BBY Quote) reports its quarterly results on Wednesday, and now that Circuit City (CC Quote) is "blinking" and cutting stores, Cramer said, people need to see how bad Best Buy's quarter is. He advised buying the retailer after it goes down but said he doesn't like it as much as he likes GameStop (GME Quote).- Loading Comments...
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