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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Molson Coors (TAP) - Get Report and Ball Corp (BLL) - Get Report : Even in a lousy stock market there are still opportunities to be found, Cramer reminded viewers. For instance: oligopolies, those industries where only a handful of players peacefully coexist and rake in the profits.
The beer business is one such oligopoly, with the top five brewers controlling an astounding 84% of the U.S. beer business. Now that Anheuser-Busch InBev (BUD) - Get Report is buying SAB Miller and creating a truly colossal beer company, that means that rival Molson Coorsis a buy, buy, buy.
Cramer explained that as part of the Miller deal, Anheuser will be forced to divest some of its brands on the cheap, and those brands are most likely to fall into the hands of Molson. Trading at just 22 times earnings, Cramer said he'd be a buyer into any additional weakness.
It turns out Ball is in the process of acquiring Rexam in the next few months, which Cramer said makes that company a buy, buy, buy because the additional leverage Rexam will provide will translate directly to Ball's bottom line. Shares of Ball currently trade at just 18 times earnings.
Bank of America delivered terrific earnings when it reported, Cramer said, yet the markets took shares lower by 1.5%. He said this bank is on the mend and the markets will be proven wrong over the longer term.
Then there's Dow Chemical. Cramer said this stock is paying you to wait for its merger to be completed, yet investors mistakenly link it to oil prices and send shares lower by the day.
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At the time of publication, Cramer's Action Alerts PLUS had a position in BAC and DOW.