Cramer's Take on Headline Stocks: June 21 - TheStreet

Cramer's Take on Headline Stocks: June 21

Here's what Jim Cramer's had to say lately about stocks making today's headlines, including BP, Apple and Ford.
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) -- Regardless of why a stock is in the news, it never hurts to hear what a professional investor has to say about it. The key is to gather as much information as you can in order to make the most informed investment decisions you can. As Jim Cramer (read an excerpt from his

new book here

) often reminds, investors must do their homework.

So what has Cramer had to say lately about today's headline-makers? At Stockpickr, we've combed through his recent


blog posts, "Mad Money" TV show recaps and "Stop Trading!" segments to find out

what he thinks about some of today's newsworthy stocks



(F) - Get Report

: In a video today, Alan Farley says it's still

too early to buy Ford


In a June 14 blog post,

Cramer wrote


"All sorts of groups appear buyable, including aerospace with


(BA) - Get Report

leading; auto, with


(MGA) - Get Report



and health care, with


(CAH) - Get Report


Express Scripts







(SRCL) - Get Report

, and

United Health

(UNH) - Get Report

(the HMOs all show up strongly, at last) finally joining


(ABC) - Get Report

with nice trends."

Who Owns Ford? Renaissance Technologies SAC Capital

First Solar

(FSLR) - Get Report

: China's decision to allow the

yuan to appreciate against the dollar

could give a boost to solar stocks such as First Solar and




On a

"Lightning Round"

segment earlier this month, Cramer told viewers to sell First Solar. "You cannot make solar profitable here," he said. "This is the first subsidy that governments will be cutting. Don't get beheaded. "


(AAPL) - Get Report

: Apple's iPad should see some competition soon from


(NOK) - Get Report

, which has produced prototypes of a tablet it hopes will be ready by the fall, according to



On Friday's

"Mad Money"

show, Cramer said that earnings reports this week from


(ADBE) - Get Report


Research in Motion


will provide insight into

Action Alerts PLUS

stock Apple's effect on the companies. Cramer told viewers to pick up more Apple on any weakness.


(BP) - Get Report

: According to BP,

costs associated with the Gulf of Mexico oil spill

is $1.6 billion so far. BP reportedly plans to

raise $50 billion

to cover spill-related liabilities.

On his June 18 "Stop Trading" segment, Cramer called BP a

dangerous stock

and said he prefers refineries such as


(SU) - Get Report




and his favorite,

Marathon Oil

(MRO) - Get Report


On June 15, in a blog post titled "

The BP Math Starts to Add Up

," Cramer wrote:

"The math on this BP deal is starting to make sense. If you are blowing $500,000 a day on a rig, you better be spewing something like 50,000 to 60,000 barrels a day, or else it isn't worth it.

"I was always skeptical of the initial reports of the spew because if there really was just a couple of thousand barrels a day leaking out of a big hole in the ground that they spent a fortune drilling, then what kind of risk-reward was that? If it was only spewing 1,500 barrels -- heck, how about 3,000 or 5,000? -- you got a losing proposition on your hands.

"Now, we are getting closer to the truth. This well, perhaps one of the greatest finds in history, was a terrific bargain for the company, despite the expense of the Transocean rig. It was such a bargain that you have to wonder why in heck would BP stint on anything? It should have gone full-out deluxe. It obviously didn't.

"The other day, when BP broke down viciously to precisely the levels it is now trading after hours, it took the whole market with it. I have to ask, why couldn't it do it again? It wasn't like we went up on fundamental news. We went up more than 2% on "caught short/expiration" blather that can easily reverse on "caught long/expiration" blather that delivers a decline of 2%.

"That's really the issue here: the phoniness of the rally. Because, if it collides with real bad info -- say about BP, in which

Bank of America

(BAC) - Get Report

comes out and says business should be curtailed with the company, the first broker to really break ranks with the "don't worry about it long term" crowd -- it could undo the rally, especially now that we are at plus-6 on the oscillator, a level that always makes me countenance much more selling than buying.

"In short, as we continue to find out more about BP and it continues to be bad, we can't rule out a repeat of last week's brutal BP-inspired decline, especially when today's rally felt very much like short-covering and options-expiration handiwork."

For more of what Cramer's had to say lately about stocks in the news, check out the

Cramer's Take



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(Editor's note: At the time of this publication, Cramer owned Apple, Bank of America, Boeing, Marathon Oil and Medco Health for his Action Alerts PLUS charitable trust.)

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