Not a Stockpickr member? Join the community today -- for free.NEW YORK ( Stockpickr) -- Regardless of why a stock is in the news, it never hurts to hear what a professional investor has to say about it. The key is to gather as much information as you can in order to make the most informed investment decisions you can. As Jim Cramer (read an excerpt from his new book here) often reminds, investors must do their homework. So what has Cramer had to say lately about today's headline-makers? At Stockpickr, we've combed through his recent RealMoney blog posts, "Mad Money" TV show recaps and "Stop Trading!" segments to find out what he thinks about some of today's newsworthy stocks. Chevron ( CVX): Chevron said it would lift a June 23 force majeure clause for an offshore drilling project in the Gulf of Mexico involving Hercules Offshore ( HERO). In a June 28 blog post, Cramer said that it was hard to find a company not threatened by the Obama agenda. "The ban on drilling will crush the oil service companies and the oil companies that needed the new oil to keep their reserves up," he worte. "Natural gas will be hurt by the EPA investigations. That's why the multiples on Exxon ( XOM) and Chevron and Chesapeake ( CHK) and Schlumberger ( SLB) are shrinking." State Street ( STT): State Street, which is set to report earnings on July 20, said it expects to earn 93 cents a share, excluding one-time charges. This would far exceed analyst expectations for 72 cents a share. On June 28, Cramer wrote to his RealMoney blog that the "widespread revulsion to stocks continues." He wrote: "The damage to some of these stocks, as I peruse the charts, is astounding. Anything involving money management has been destroyed -- Blackrock ( BLK), Janus ( JNS), State Street, Northern Trust ( NTRS), Bank of New York ( BK), Federated ( FII), you name it. Even T Rowe ( TROW) looks awful. The only stable player is Legg Mason ( LM), and I wouldn't touch that one fundamentally with a 10-foot poll."
|Who Owns State Street?|