Cramer's Take on Headline Stocks: March 29
Not a Stockpickr member? Join the community today -- for free.
NEW YORK (
) -- 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
) 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
RealMoney
blog posts, "Mad Money" TV show recaps and "Stop Trading!" segments to find out
what he thinks about some of today's newsworthy stocks
.
Bank of America
(BAC) - Get Report
: Bank of America grabbed more than one headline today, including "
Bank of America's Looming Board Battle
," which examined the activist pressure that Finger Interests, which owns 1.1 million Bank of America shares, is exerting on other shareholders to vote agains the re-election of Charles Gifford to the company's board.
Who Owns Bank of America?
Third Point
John Paulson
Eddie Lampert
|
There's also "
Bank of America Goes Corporate
," about Bank of America's announcement of seven new executive hires, four of whom will be located in Asia.
On his March 23
segment, Cramer told viewers he was "sticking with Bank of America," which he owns for his
charitable trust. "I think they're rocking," he said.
In a March 24 post to his
RealMoney
blog,
:
"Not sure what can be said about the Bank of America
to forgive some principal on troubled home loans, other than that it can only help a small group of borrowers. Like all of the other plans I have seen, it is really about maximizing the cash flow for the banks, meaning that they get something for nothing, as these people were going to stop paying and walk away, and it just might still happen."
BP
(BP) - Get Report
: Another
made the headlines on Monday, with "
BP Shuttering U.S. Solar Plant
." BP's solar panel manufacturing subsidiary will shut its Frederick, Md., plan and lay off 320 employees.
On his March 23
segment, Cramer said he had to part with
Chevron
(CVX) - Get Report
because oil "is not acting that well, and we need more yield." He told viewers he preferred BP.
>> Who Owns BP?: Bill and Melinda Gates
On March 16,
in his blog: "Take BP. We were supposed to be worried about the yield being too high when oil was at $50. Now it is $80 and it seems that people are
still
worried. I just don't get it. Not at all."
Best Buy
(BBY) - Get Report
: Best Buy grabbed a headline this morning -- "
Best Buy Poised to Win With Apple iPad
" -- off of the announcement that it will be the sole partner for the anticipated Saturday launch of the
Apple
(AAPL) - Get Report
iPad, selling the device in most of its stores.
In a March 25 blog entry,
of "a powerful combination of lower unemployment claims, higher retail sales from Best Buy and a
Fed
chairman who is still saying he will not pull the rug out from this economy."
>> Who Owns Best Buy?: George Soros
Also on March 25, in another post to his blog,
:
"The most important pin-action retailer in the country reported numbers that tell you that the tsunami wave of Internet speed and smartphones is on, that the consumer is spending like crazy and that the tech rally from it may be unstoppable.
"I am talking about Best Buy. For so long I have held that BBY is the key to determining so much spending. It is a leading seller of PCs, phones, video games, printers, TVs. You name it. You can buy
Sony
(SNE) - Get Report
,
Hewlett-Packard
(HPQ) - Get Report
,
Intel
(INTC) - Get Report
, Apple,
Electronic Arts
(ERTS)
,
Microsoft
(MSFT) - Get Report
and
Corning
(GLW) - Get Report
off it. You can buy all the suppliers from
Xilinx
(XLNX) - Get Report
to
Cypress
(CY) - Get Report
and
RF Micro Devices
(RFMD)
to
Broadcom
(BRCM)
and
Marvell Tech
(MRVL) - Get Report
and
TriQuint
(TQNT)
off it.
"And you can do it today.
"Best Buy said last time that things were not so hot and gave a cloudy future, and that put the kibosh on any tech rally. It was ugly.
"This time it is all systems go.
"Don't forget that when the profit-takers come in, as they always do.
"There is no tech pin action better than the strike that BBY threw this morning. I think it should be obeyed."
For more of what Cramer's had to say lately about stocks in the news, check out the
portfolio.
(Editor's note: At the time of this publication, Cramer owned Apple, Bank of America and BP for his Action Alerts PLUS charitable trust.)
Follow Stockpickr on
and become a fan on
Facebook.
RELATED LINKS:
Stockpickr is a wholly owned subsidiary of TheStreet.com.
