Cramer's 'Stop Trading': Schlumberger
NEW YORK (
) -- When you see a stock that is barely up on a day like Thursday when the
S&P 500
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 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
TheStreet Recommends
Schlumberger
(SLB) - Get 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.
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