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Cramer's 'Stop Trading!': Buy Jones Apparel
04/30/08 - 02:57 PM EDT
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Buy Jones Apparel JNY, Jim Cramer said on CNBC's "Stop Trading" segment Wednesday. "[Jones CEO] Wes Card has put it together," Cramer said. "Great quarter, big dividend, accelerated buyback, huge Wal-Mart WMT contract, $15!" He also said he likes J. Crew JCG and Phillips-Van Heusen PVH. "I'm liking this tape," Cramer said of broader market action. "The institutions are free to mark up. ... Watch em rip." Cramer said he liked earnings reports from several companies, including Ingersoll Rand IR, which he praised for getting away from cyclically sensitive business. The stock is "still down huge," he said, but "the company is now smoking." He said he liked Ingersoll's climate control business. Cramer was less bullish on Kraft KFT, although the company has weathered consumer headwinds. He prefers General Mills GIS, he said. "I have to tell you that we are in the throes of an earnings renaissance," Cramer said. He pointed out bullish action in shares of Cummins CMI. "Where is the recession by the way?" he said. "JPMorgan JPM and Goldman Sachs GS continue to go higher," Cramer pointed out. "They make a lot of money ... for their shareholders," he said of the companies' CEOs. Cramer wondered why Wachovia WB wasn't trading lower on news of new charge-offs.
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