gave a "horrendous report," last night, said Jim Cramer on his
"RealMoney" radio show Wednesday.
The company totally missed its guidance, and as a result, "a lot of people panicked out of a lot of stocks," he said. People were dumping stocks like
, but now it seems they've come to their senses.
Investors have realized that Alcoa is simply a victim of bad management, he said, urging them not to be put off by the stock.
"It reminds me of
Sirius Satellite Radio
," Cramer said, which is doing well, but when
XM Satellite Radio
missed its projections, all people cared about was how bad XM was doing, not how well Sirius was doing.
A lot of tech stocks are doing well, Cramer said. Among them, he recommends
If you don't have any tech, "I need you to make a change out of soups, soaps and cereals," into
, Cramer said.
He also said it's time to go back into industrials. People should get out of
Black & Decker
Into Google and definitely into Akamai, he said.
Cisco went from $18 to $24, and
has gone from $12 to $18 because "money coming out of staples and oil is going into tech."
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.
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