
Cramer's 'Stop Trading': Schlumberger
NEW YORK (
) -- When you see a stock that is barely up on a day like Thursday when the
is down significantly, that is a huge move, Jim Cramer said during his
Stop Trading
segment on CNBC.
He called out
Cisco Systems
(CSCO) - Get Free Report
, which was trading higher by a little less than 1% to $23.29 Thursday afternoon.
Cisco CEO John Chambers remains confident in his recovery forecast after the company reported better-than-expected second-quarter earnings. Cramer owns Cisco for his charitable trust.
Oil was down nearly $4 a barrel Thursday and Cramer said investors ought to buy
Schlumberger
(SLB) - Get Free Report
"right here, right now."
Cramer said the stock, which was falling 4.2% to $63.21 Thursday afternoon, was trading lower because of the broader market selloff; that weakness is undeserved, he said.
Schlumberger generally trades on big countries deciding it's time to drill, not on the price of oil, he added.
-Reported by Jeanine Poggi in New York.
RELATED STORIES:
>>Cramer's 'Stop Trading': Ford, PNC
Follow TheStreet.com on
and become a fan on
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.