: "The last quarter wasn't that good. I want to wait to re-test $71 before pulling the trigger."
In the "Executive Decision" segment, Cramer sat down with Nick Schorsch, chairman of
American Realty Capital Trust
, a stock that's seen a 14% gain since Cramer last spoke with Schorsch on July 12, but also one that's come under fire after the company announced it was selling itself to
Schorsch said the merger was a perfect example of one plus one equaling three, as Realty Income is a great company with a terrific balance sheet. He said the combined company will be able to boost dividends by 7% and Realty Income has a track record of raising their dividend 67 times in a row.
Additionally, Schorsch said American Realty shareholders get to tap into Realty Income's higher multiple, making the deal accretive for everyone. The combined company will be more stable, he said, as well as having a much better cost of capital for the future.
Cramer said that normally he advises shareholders to sell on a takeover, but in this case he's advising investors to stick with the company and get shares in the new entity.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer sounded off against
(AA - Get Report)
Bank of America
(BAC - Get Report)
, the two biggest laggards over the past two years.
Cramer said while he could argue that both companies are better now than they were two years ago, it simply doesn't matter. Alcoa, he said, is suffering from an aluminum glut that has no end in sight while Bank of America is competing against
and losing at every turn.
With no catalysts in sight for either company, Cramer said he prefers Wells Fargo and
, both of which are Action Alerts PLUS holdings.
And in Closing...
In his closing comments, Cramer said earnings at
Palo Alto Networks
(PANW - Get Report)
were disappointing, but he liked the quarter at dollar store chain
(FIVE - Get Report)
--Written by Scott Rutt in Washington, D.C.
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