Jim Cramer's Stop Trading! Do the Dow Deal

Stock quotes in this article: DOW , PEP , GPS  

The takeover games aren't over at Dow (DOW), Jim Cramer said Thursday on CNBC's "Stop Trading!" segment.

Cramer noted that the stock is up 3% even after the firing of two execs tied to an unauthorized leveraged buyout effort. Cramer said he believes the rise reflects Wall Street's belief that one of the two, former finance chief Pedro Reinhard, will quit the board and lead an unsolicited takeover bid.

Cramer also criticized Dow chief Andrew Liveris, a member of the Citigroup (C) board, saying he and other Citi board members are "pro status quo."

Cramer gave a thumbs up to Sanford Bernstein's upgrade of Pepsi (PEP) and said Gap's (GPS) Old Navy unit is back.

Cramer is less taken with MGIC Investment (MTG), saying it's going to get crushed by the collapse of subprime mortgage lenders.

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At the time of publication, Cramer had no positions in stocks mentioned.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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