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Sirius (SIRI Quote) CEO Mel Karmazin is running out of time to make a deal for rival XM Satellite (XMSR Quote), Jim Cramer said on CNBC's Stop Trading! segment Tuesday.
Cramer has advocated that Sirius take advantage of the steep plunge in XM stock this summer to buy its struggling rival. But a 20% surge in XM stock off a Bear Stearns upgrade Tuesday morning had Cramer saying "the window is closing on Mel." Cramer said he believes XM shares, up $2.16 Tuesday at $13.40, could soon fetch $17. At that price the deal could be too rich, Cramer said.
Cramer said he likes natural gas producers EnCana (ECA Quote) and Devon (DVN Quote), because natural gas is trading above $7 and because of the heavy call-option buying in both companies. ...
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