Kass & Cramer: A Play on Banks
Wells Fargo (WFC Quote) priced its $10 billion equity offering at $27 last night. The stock is trading at $28.36, and because the deal with Wachovia (WB Quote) is a stock transaction, Wachovia's shares had some weakness today as well.
Jim Cramer announced he was buying WB around $5.29 (it's at $5.46 now), as this is his backdoor way to own WFC in the long term. Doug Kass also had an excellent piece on WFC and why it is a long-term buy. To see Kass' 6 reasons why to own WFC, please click here.- Loading Comments...
- Loading Comments...
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,237.30 | 1,091.86 | 2,159.95 | 34.89 |
Oil *
76.03
|
|
DOWN
53.96
|
DOWN
6.65
|
DOWN
6.95
|
UP
0.15
|
10 Yr
3.49%
SPDR Gold
108.60
|
|
-0.52%
|
-0.61%
|
-0.32%
|
+0.43%
|
Data delayed 20 minutes |














