Publish date:

Cramer's Stop Trading: PNC, BP, Wal-Mart

On his Friday Stop Trading! segment on CNBC, Jim Cramer says the only bank that's unscathed by the financial overhaul is PNC Financial.
Author:


NEW YORK (TheStreet) -- On his Friday Stop Trading! segment on CNBC, Jim Cramer says the only bank that's unscathed by the financial overhaul debate is PNC Financial (PNC) - Get Report because it's more of a "classic," bank that takes deposits; the type that Senator Blanche Lincoln likes.

Cramer said he's not negative on bank stocks as a group, per se, but just thinks that PNC doesn't have the problems the rest of these banks have.

Cramer made his recommendation following news that negotiators in both houses of Congress have completed an overhaul of banking regulations, noting that he thinks that the next big thing on the government agenda will be the card-check legislation, which would make it easier for workers to organize labor unions, which could have implications for large employers such as

Wal-Mart

(WMT) - Get Report

.

Even though shares of

BP

(BP) - Get Report

stock are already getting hammered, Cramer thinks that traders are still too rosy about the stock.

TST Recommends

"BP is on the endangered-species list," said Cramer, mentioning that lawyers he knows think "this is a great time for BP to file for Chapter 11."

Cramer believes that it's in everyone's interest for the company to survive. "The institution must be persevered," even at expense of the common stock, he said.

Cramer's Stop Trading!: Deutsche Bank, BP

Click here for Cramer's Thursday Stop Trading! segment

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>06/24 Cramer's Stop Trading!: Deutsche Bank, BP

>>06/21 Cramer's Stop Trading!: Yuan, Nat Gas

>>06/18 Cramer's 'Stop Trading': BP, Marathon

>>06/14 Cramer's Stop Trading!: Cirrus Logic

Get more stock ideas and investing advice on our sister site,

Stockpickr.com.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.