And of course, there are the conglomerate plays. Honeywell (HON) has been crushed here, and the Dreamliner is important to forward earnings and to the company's five-year plan. I think it can be bought, but not just because of the Dreamliner.
General Electric (GE) needs the Dreamliner, but it is more levered to the world's economic recovery, or lack thereof. And I would put Alcoa (AA) in the same place. While short-sellers don't like that these are not aluminum planes, they seem to forget that Alcoa has built up its fastener business, and those fasteners are used in abundance in the Dreamliner. Alcoa has been pummeled. Any good news has to help.
The Dreamliner is a big deal. How big? It even matters to the GDP, that's how big. And given the order profile, this production run could be an important keystone for all of these companies' future earnings. It's funny, the disappointment has been so traumatic for this company and its ship dates that it seems that people have given up on the component makers. That's where the bargains come in.
At the time of publication, Cramer was long AA.
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