Cramer's 'Mad Money' Recap: Separating Fact From Fiction
Boardwalk Partners (BWP): "I think we're fine. I would buy more. It's best in show and I like it."
Caterpillar (CAT): "I need more data. It's too hard. I'm not confident to make a judgment."
Sell BlockIn the Thursday "Sell Block" segment, Cramer released Symantec (SYMC) from the block, saying that after years of trading sideways, the company is now investable. Cramer explained that while Symantec operates in the red-hot cyber security and consulting sectors, the company has be unable to deliver anything in the way of growth. Symantec made over $3 billion in acquisitions, yet was able to eek out revenue gains, let alone profits. Making matters worse, Symantec management was complacent, ignoring calls from activist investors to shake things up. But then Symantec's board heeded the calls, ousting its CEO on July 25 and replacing him with Steve Bennett, formerly of Intuit (INTU). That news alone was enough to send shares from $13 to $17 in just two weeks and to $19 within the first six weeks. Cramer said there are a lot of ways Bennett can cut costs and streamline Symantec's operations, and if his huge recent purchase of Symantec stock is any indication, that's exactly what Bennett plans to do. Additionally, Bennett now has the opportunity to diversify Symantec away from the ailing PC market and into mobile devices, as well as grow the company's enterprise businesses.
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