Fortune Brands (FO Quote) reported a "breakout" quarter Friday, Jim Cramer told listeners of his "RealMoney" radio show Monday. Fortune's stock rose 2.1% Friday and was up another 1.9% Monday afternoon.
Yet the headline for a blurb about Fortune's results in The Wall Street Journal Monday read, "Net Income Slides by 59%, Hurt by Acquisition Costs." The headline, "while 100% accurate, is totally wrong," Cramer said, and it is an example of why the "game" of investing seems so hard for so many people.
Cramer said Fortune Brands is actually doing quite well with its acquisition of spirits company, Allied Domecq, because it brought Fortune into the lucrative high-end wine market. More importantly, the company's housing and remodeling division is doing well, he said, and it is taking market share from competitors American Standard (ASD Quote) and Masco (MAS Quote). ...
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