"This is getting very personal, very quickly," TheStreet's Cramer, co-manager of the Action Alerts PLUS portfolio, said on Friday.
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On CNBC's "Cramer's Stop Trading" segment, Cramer argued that CEO Andrew Liveris is "doing some good things" and that the "vicious attack" from Loeb is somewhat surprising. The company recently used its investor day to outline some of its catalysts, which Loeb clearly disagreed with.
On Thursday, Loeb
Must Read: released a mini-documentary and launched a Web site, criticizing Dow Chemical. He has been pressuring the company for months to take steps to try to improve shareholder value.
Although the shares are still higher on Friday, up about 1%, it's a situation that investors should at least be aware of. This is just the start, Cramer said, and more drama will come.
In regards to consumer confidence, the preliminary reading for November was 89.4, the highest preliminary result -- and if it holds, the highest monthly result -- in over two years.
The reason? Gas prices. Ebola couldn't weigh down consumer confidence last month and geopolitical events couldn't before that. But now that gas prices are dropping, consumer confidence is rising, Cramer said.