Wells Fargo ( WFC)topped the stock search list by being one of the last major banks to to cut its dividend to five cents a share. Financials continue to grab the most attention with AIG ( AIG) letting the market make the decision as to whether it should go out of business or not as it traded for pennies by the end of the week.
Bank of America ( BAC)stays in the spotlight as its financial brokerage firm Merrill Lynch came under fire again for questionable trading in the UK. And rounding out the bank is Citigroup ( C) which saw its shares trade for less than an ATM transaction fee. Thomas Hoenig, president of the Kansas City Fed said he thought the government's approach to insolvent banks was ad-hoc and not addressing the underlying problems. Moving on to industrials, General Electric ( GE)came under scrutiny as investors are questioning the true state of affairs at General Electric Capital. General Motors ( GM)insists that the fat lady isn't singing just yet and will keep fighting to stay out of bankruptcy. The shippers rode the high wave on Friday again as DryShips ( DRYS) jumped with the rest of the sector after a rollercoaster week. Energy stocks shared the limelight with British Petroleum ( BP) continuing to be a favorite of Stephanie Link, Director of Research for Action Alerts Plus. For more of what Cramer is trading email us at email@example.com for your free trial! Conoco Philips ( COP) hit the list even though Warren Buffett said that he wished he had not taken a stake in the company. Cramer is increasing his share. And finally, retail giant WalMart ( WMT) seems to be one of the few bright spots in the terrible bear market as it continues to report respectable sales.