Cramer's 'Stop Trading!': Buy Owens-Illinois
Buy Owens-Illinois (OI), Jim Cramer said on CNBC's "Stop Trading!" segment Thursday.
Cramer pointed out that Owens Illinois, which makes glass bottles, is safe from a public outcry about toxins in plastic baby bottles. "I have to emphasize to people," Cramer said, "At a certain point we're going to come around. ... Glass doesn't have toxins.
"Everybody else uses glass around the globe. You can recycle it 30 times," Cramer said. He predicted that glass would make a comeback as consumers turn to it instead of plastic.
Of Joy Global's (JOYG) earnings report, Cramer said the company produced a "monster-good quarter." He said were it not for bearish action in Peabody Energy (BTU) and Arch Coal (ACI), "this thing would've been up eight. ... I think Joy Global is joyous today."Cramer reiterated his buy recommendation on MasterCard (MA). "How many times have I said MasterCard on the show. Stick with MasterCard." Cramer also took time to comment on TheStreet.com's Doug Kass, who predicted an upturn in Citigroup (C). Cramer said he had agreed with Kass' previous "unrelenting negativity" on the financials. He said he thinks too many things -- including an improved housing number, lower unemployment and better management at Citi -- have to go right for Kass' prediction to come true. However, Cramer also said that Kass' call "causes me to stop and re-evaluate again." He said that he would like California-based Wells Fargo (WFC) better than Citigroup if it were based in another state. If Kass is right, "You're gonna have a rip snorting bull here," Cramer said. "There is absolutely one Achilles heel in this group, which is the financials." He said he's not on board with Kass' call yet.
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