Skip to main content

Cramer's 'Mad Money' Follow-Up: Wells Fargo

Jim Cramer said that the bank's earnings beat was a game-changer.

On Thursday's "Mad Money" show, Jim Cramer said that Wells Fargo's (WFC) earnings beat is a game-changer, demonstrating there are massive profits to be made in banking. He also said the earnings beat is indicative of a housing bottom.

Cramer was also bullish on




Bank of America



On Monday, Wells Fargo closed up 6 cents, or 0.3%, at $19.67, while JPMorgan added 95 cents, or 2.9%, to $33.70, and BofA added $1.47, or 15.4%, to $11.02.

News that

qualifying insurers will be eligible for TARP

prompted Cramer to release a few insurers from his "Sell Block," including

Principal Financial






Lincoln National



Hartford Group


. While he didn't want to own any of them yet, he said they were no longer toxic and that TARP will solve a lot of their problems.

On Monday, Principal closed up 50 cents, or 3.5%, at $14.97, Prudential closed up $1.47, or 5.4%, at $28.97, Lincoln added 16 cents, or 1.5%, to close at $10.24, and Hartford was up 76 cents, or 7%, at $11.56.

At the time of publication, Cramer was long Wells Fargo and JPMorgan.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click

here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click

here to order his book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here. has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from