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TheStreet Open House

'General Electric Is a Buy' - Cramer

Stocks in this article: GE HAL BHI LUFK

Debra Borchardt:

Well I think you're...something that you've touched on is the progression in their stated goals and how they achieve them because they made this acquisition in 2011 where they are building out that services unit and here we go. Each year they keep adding to that and that's what to me is so telling. They state their goal, this is what we're going to do, and then they actually do it and it seems like they're doing it quite well.

Jim Cramer:

I mean, look, I wish they'd buy Hackman. They're not going to buy Hackman. It's four dollar stock. Core Labs (CLB)would be terrific. They did the math thing but Core Labs very, very expense stock. So they went after the one that is cheap. Lufkin's cheap because they had a series of earnings disappointments and remember that Baker Hughes drilling index was down. The March employment number was hurt by the fact that we did shut down a lot of nat gas drilling and nat gas has gone up to four bucks. Aubrey McClendon who used to run Chesapeake (CHK) had been saying over and over again 'When we get to April of 2013, that's natural gas is going to go up because of how little drilling there is going on.' A National Oilwell Varco (NOV)I always felt was a natural for GE to buy but the main thrust of this is to recognize that Jeff Immelt sees the revolution of oil and gas and the revolution in oil and gas is the most palpable revolution going. I talked about it on Meet the Press yesterday. A lot of eyes glazed over and there are a lot of people who hate fossil fuels. When I went on @jimcramer on Twitter, I was astonished at how much hatred I got from just even mentioning pipeline business oil and gas. Oil and gas has been the principle creator of jobs in this country and just people were even disputing that. All you have to do is go to the...

Debra Borchardt:

Do you want to buy GE here on this?

Jim Cramer:

2 of 3

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