In the ever changing financial markets, one thing remains constant. Every single day, there are breaking news items, both good and bad, concerning various different companies.
It's not always easy to understand the impact these news items will have on all the different stocks and/or sectors in which they operate.
With this in mind, we thought it made sense to take the Top 10 Most Searched Stocks on
from the prior trading day and find out
. These stocks could be in the news for a number of reasons. Some require immediate attention while others may not.
But it never hurts to hear what Cramer (or any of the other professional investors on the site) has to say about them. The key is to gather as much information as you can in order to make the most informed investment decisions you can.
So we'll kick it off today with
Obviously, GE had a rough day on Friday. The global conglomerate sent shockwaves throughout the markets early in the morning by posting lower-than-expected earnings and a reduced profit outlook. The market certainly got crushed, but we are already hearing experts talk about how GE may be close to a buy again after the stock lost more than 12% of its value Friday.
Cramer, who owns restricted shares of GE, believes you can still make money off the company's quarter by focusing on other names that have declined to good buying levels because of the GE effect on the market.
In reference to GE's miss implying weakness across the board for the market, Cramer said in a
blog post Friday that "I just can't get there. I just don't see the weakness in GE -- commercial leasing, real estate leasing and the inability to close deals -- spilling over to the hot sectors: oil and gas, agriculture, minerals and infrastructure. It's just not dispositive, as we would say back in law school. There simply isn't that much in common with that portion of the GE miss."
With this in mind, Cramer recommended
National Oilwell Varco
on Friday and staying away from tech in general. "You can't hide in tech. You can hide in
, you can hide in
, you can hide in
, but you cannot hide in tech."
was another popular search on Friday, and Cramer had had plenty to say about the financial services firm recently. In a Thursday blog post, he wrote:
Goldman Sachs is changing hands at around $169. That values the stock at just 10 times reduced 2008 earnings expectations. This is crazy. Goldman Sachs, the same company that got things right in the subprime mess and ensuing credit crunch, the company that has picked up a huge amount of prime brokerage business -- carrying huge margins -- after the Bear Stearns (BSC) collapse? Goldman Sachs, with the credit markets at last freeing up? Yes, Goldman Sachs, the only company in the business that is buying back its shares. I say this is ridiculous. People are freaking out because Goldman lost money on a couple of bad days. This is infuriating to me. There is no way this company should be selling so cheaply. No way.
For more of his stock takes, including
, check out
(Editor's note: Cramer owns Golman for his Action Alerts PLUS charitable trust. And Jim Cramer is a featured commentator for
, which is owned by General Electric; as part of his contract, Cramer holds restricted shares in GE.)
At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.
James Altucher is president of
LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the
and the author of
Trade Like a Hedge Fund
Trade Like Warren Buffett
. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;
to send him an email.
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