Top Takes From RealMoney

The RealMoney contributors are in the business of trading and investing all day on the basis of ongoing news flow. Below, we offer the top five ideas that RealMoney contributors posted today and how they played those ideas.

TheStreet.com brings you the news all day, and with RealMoney's "Columnist Conversation," you can see how the pros are playing it on a real-time basis. Here are the top five ideas played today. To see all that RealMoney offers, click here for a free trial.

Nokia

By Jim Cramer
6:37 a.m. EDT

Nokia ( NOK) just doesn't have the right phones. I think they will, but they don't have them now, and people want Apple's ( AAPL) iPhone. They do not want non-smartphones, and Nokia's won't be here until the second half. Nokia is like Dell ( DELL) for this industry: It is a false tell of non-strength...

No positions


CIT Failure a Warning to Bank Bond Holders

By Tom Graff
7:42a.m. EDT

It seems as though the government has found where the Too Big to Fail Line is, and its CIT ( CIT). I think this leaves regional bank bond holders very vulnerable. Clearly, if CIT will be allowed to fail, then banks like Fifth Third ( FITB) or Regions Financial ( RF) or Comerica ( CMA) can't assume full government support. Fifth Third's 8.25% subordinate bonds due in 2038 have risen from $61 to $77 since March 31. I'd expect those sorts of bonds to give a lot back in a post-CIT world.

No positions


JPM: Bad Loans Stabilizing

By Jim Cramer
8:23 a.m. EDT

JPMorgan Chase ( JPM) saying it is seeing improvements in the defaults on mortgages -- better than last time. I know that's not in keeping with what the press says. I simply have to go with JPM, not the press. ... The WAMU losses are consistent with initial assuptions ... no hair on this that i can see. ... Credit losses good -- except credit cards...

Positions: Long JPM


Finance Very Strong

By Tom Graff
11:24 a.m. EDT

Finance bonds are soaring today, most names 10-15 better, even before reports that there might be some sort of last-minute CIT ( CIT) deal in the works. The only exception is General Electric ( GE), which is about 5 wider, presumably on the theory that of all big finance names, GE's book looks the most like CIT's.

No positions


I Read the News Today

By Tim Melvin
11:30 a.m. EDT

The big two seem to remain in control of the economy. If you back out all the seasonal-adjustment foolishness, unemployment claims were up, and so were continuing claims. If you add in the emergency programs, over 9 million people received unemployment benefits. The layoff notices just keep coming. Advanta ( ADVNB), McGraw-Hill ( MHP) and Gannett ( GCI) are just a few of the companies to announce additional job cuts this week.

Foreclosures were also up as the real estate market struggles to find some semblance of a bottom. In the first half, the number of people faced with losing their home rose 15% year over year. This is in spite of government programs and foreclosure moratoriums that have been enacted to stem the tide.

The companies that are not benefiting from equity- and debt-raising efforts or trading with a near monopoly on the fixed-income market are reporting horrible results so far. The only halfway-decent report has been Intel ( INTC), but so far all of its end-users have had poor results, and that does not bode well for the chip company's second half.

I want to believe and be bullish. But it would be short-sighted to do so in my opinion. I am staying cautious.


For free trial to Real Money, where you can get updated trading and investment ideas throughout the course of the day, please click on the tile below.

This article was written by a staff member of RealMoney.com.

More from Jim Cramer

Carnival Corp.: Cramer's Top Takeaways

Carnival Corp.: Cramer's Top Takeaways

Big Turnaround Stories: Cramer's 'Mad Money' Recap (Wednesday 5/23/18)

Big Turnaround Stories: Cramer's 'Mad Money' Recap (Wednesday 5/23/18)

Sirius XM Radio, Teva Pharmaceuticals: 'Mad Money' Lightning Round

Sirius XM Radio, Teva Pharmaceuticals: 'Mad Money' Lightning Round

One-on-One With Carnival Corporation CEO Arnold Donald (Watch)

One-on-One With Carnival Corporation CEO Arnold Donald (Watch)

Replay: Jim Cramer on the Markets, Tiffany, Micron Technology and Union Pacific

Replay: Jim Cramer on the Markets, Tiffany, Micron Technology and Union Pacific