recently made a statement when it held a shareholders' meeting in which it declared that the company's business is "smoking good" and its stock is too cheap, Jim Cramer said on his
"RealMoney" radio show Friday.
The company raised its dividend, he said, advising a caller to the show that it's not too late to buy Caterpillar's stock.
reported a great quarter, but people also learned that the company's New York stores were not performing too well, Cramer told a caller, who inquired about it.
Ten days ago,
came out and said they have too much inventory.
Since AU Optronics manufactures and sells the liquid used in LCD TVs, people thought its inventory must be high because Best Buy wasn't doing well.
Everyone began selling Best Buy, but in fact, even though the company's New York stores were underperforming, Best Buy was doing great overall and it was revealed that AU Optronics' inventory problem was caused by
Best Buy is a good story in a down market, Cramer said, but it is not a buy right now.
Although Cramer told a caller he has taken a terrible beating with
, which he owns for his charitable trust,
Action Alerts PLUS, he believes the worst is over for this company.
What happened is that bankers convinced Gene Eisenberg, the company's CEO, that he could borrow money to buy back stocks, Cramer said, and overnight the stock went from $36 to $28. It was a wrong move and the stock has come down a lot since then, he said. But Cramer said he believes the damage has been done and recommends buying the stock. "I would buy," he said.
It is the best driller in the world, he said.
Cramer told a caller he believes the fall will be a good time for
. The stock has real value and Cramer said he has never seen it cheaper that it is now.
is a "dog," Cramer said, adding he likes
Barnes & Noble
He also told the caller to get out of
because it's too dicey and move into
Cramer gave two thumbs "way up" to
and told a separate caller to wait for
Bank of America
to go a little lower before buying.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
At the time of publication, Cramer was long Nabors.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, 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
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