Oil services plays
are on a "mission to go higher" despite the drop in crude oil prices, Jim Cramer said Wednesday on
"Stop Trading!" segment.
Cramer called Oceaneering's third quarter "incredible," considering the Hurricane Katrina impact on the year-ago period, and pointed to the company's solid growth. Shares rose 9% Wednesday to $39.
Cramer also said health insurer
"may have gotten it together," going by Wednesday's strong quarter and improved guidance. He said the company showed surprising growth and "isn't giving it away," which he called a sign that Cigna may have joined the list of companies "doing better than they used to." Cramer cautioned against buying in the managed care sector ahead of Tuesday's elections, however, saying Democrats might do strange and unfortunate things should they win Congress.
Cramer said navigation company
makes an intriguing bounceback play heading into what should be a strong Christmas for tech gadgetry, but he's staying on the sideline while he tries to figure out Wednesday's poor revenue number.
Cramer also professed to be mystified by
latest move into the hedge fund group. Cramer said he loves CEO John Mack, who he said has "turned it around," but would like to know the rationale for Morgan Stanley moving harder into an area in which it previously hasn't succeeded.
At the time of publication, Cramer had no position in stocks mentioned.
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