Cramer's Stop Trading!: Goldman Sachs, Citi
NEW YORK (TheStreet) -- On Tuesday's Stop Trading! segment on CNBC, Jim Cramer declared Canada a "remarkable" place to invest, Goldman Sachs is a wait-and-see proposition, and Citigroup is a growth-stock buy.
According to Cramer, of the most positive attributes of investing in Canada is that the banks there are required to have 20% reserves. "They are very transparent companies," Cramer explained. "They're about growth and expanding around the world."
When comparing Canadian banks with U.S. banks, Cramer said, "our banks are in retreat, with the exception of
Citi
(C) - Get Citigroup Inc. Report
."
Cramer especially likes that Canadian banks have never tried to stimulate growth through riskier practices.
Another topic on today's show was, of course,
Goldman Sachs
(GS) - Get Goldman Sachs Group, Inc. Report
. Cramer owns Goldman Sachs stock for his charitable trust.
Goldman Sachs closed slight lower on Tuesday, down 2.1% to $159.98, after reporting a first-quarter profit of $5.59 a share, which easily beat the Thomson Reuters consensus of $4.01 a share. Goldman Sach's revenue was also better-than-expected, shooting up 35.5% from the year before to $12.78 billion.
Right now, Cramer said, it's hard to make any firm predictions on the stock.
Even as the company shows solid financial performance, many are betting against the stock as it undergoes serious SEC investigations amid allegations of securities fraud. Cramer noted that there are many forces at work for and against the stock right now.
Ultimately, Cramer told his audience to "catch me in a couple of months," and he'll give a complete assessment of the stock then.
On a side note, Cramer said he believes that the investment bank's CFO David Viniar "is a great guy. He's really honest, really terrific."
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"You want growth?" Cramer asked. "Go buy Citigroup. That was the best quarter we had." Cramer noted that he is still impressed with Citi's first quarter earnings report.
Cramer also said he liked
Illinois Tool Works
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and
Eaton
(ETN) - Get Eaton Corp. Plc Report
, whose stock price has edged lower Tuesday after "a great quarter."
"They fired a lot of people, but ... earnings are exploding and they're not being sued by SEC," Cramer said of the companies.
Towards the end of the show, Cramer shifted his focus to oil drillers, with special attention given to China. Cramer said a "smart" country like China is thinking about where oil is going to come from in 2010.
"They are not just thinking about the next quarter. They are thinking about the long-term. That's why all these drillers are rallying." Cramer said he thought that
Halliburton
(HAL) - Get Halliburton Company Report
for one, had an "amazing" conference call yesterday.
-- Reported by Andrea Tse in New York
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