The negative reception afforded
big first quarter shows that it remains unsafe to buy healthcare in this market, Jim Cramer said on
"Stop Trading!" segment Wednesday.
Prior to Tuesday's report, Genentech shares lost about $10 due to concerns about Avastin. "We find out Avastin is booming, but now we don't like Rituxan and Tarceva," Cramer said. "It's too hard when it comes to healthcare. I think Genentech's a buy, but I can't believe how negative people are."
"People are so hung up on mineral stocks and metal benders that they just don't have enough money to buy the healthcare stocks that people are throwing away."
Morgan Stanley;s praise for
sent the stock up a paltry 70 cents Wednesday. "I regard that as a disappointment," Cramer said. "Morgan Stanley actually knows what they're doing."
On the positive side, Cramer believes
should be performing as well as peers
is "about to step up to the fore," although people were left "yawning" by Wednesday's dividend hike by
The problem is that with gold and minerals going up, investors are worried other sectors must come down, Cramer said. "It's very zero sum."
Cramer lamented the muted response to
$2.5 billion buyback, which he compared to
repurchase last month. "No one notices."
At the time of publication, Cramer had no positions in the stocks mentioned.
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