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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Marriott International (MAR - Get Report) and Starwood Hotels (HOT) : In an exclusive interview, Cramer sat down with Arne Sorenson, president and CEO of Marriott, and Adam Aron, CEO at Starwood Hotels, to discuss the companies' $12.2 billion merger, which was announced earlier today.
Aron said that when they looked at the hotel landscape, the company realized that size matters, and the combined company will be the largest hotel company in the world with 1.1 million hotel rooms across 30 brands in over 100 countries.
When asked about the specifics of the deal, Aron said each Starwood shareholder will receive .92 Marriott shares plus $2 in cash and another $6 to $7 once Marriott completes its timeshare spinoff prior to closing. But most important, Aron noted, is Starwood shareholders will still own 37% of the combined company, with all of its brands, synergies and growth.
Cramer said he's a big fan of these companies and of this merger.
Spirit Airlines (SAVE - Get Report) : In his second exclusive interview, Cramer talked to Ben Baldanza, president and CEO at Spirit Airlines, the low-cost carrier that's seen its shares plummet 44% over the past three months despite posting better-than-expected results just three weeks ago. Shares of Spirit are down almost 56% for the year.
Baldanza said Wall Street seems focused on a single metric and is ignoring the fact that the company's fundamentals remain strong. He said his company has more customers and is flying to more markets than ever before, all while having the lowest costs ever.
Baldanza continued that while the multiples for airline stocks are coming down across the board, that doesn't mean that business is not great. As prices come down, more people fly, and Spirit only sells low-cost fares.
Cramer said that some stocks just get too cheap and Spirit is now one of those stocks.
Integrated Device Technology (IDTI) : In his third interview, Cramer talked to Greg Waters, president and CEO of IDT, a stock that's up 32% for the year and 12% since Cramer last spoke with Waters six months ago.
Waters said IDT is a product company with a product culture. He said IDT has rolled out more new products for its data center business in the past six months than it has in years.
When asked about its wireless charging technologies, Waters explained they allow any device to cut the cord and charge without wires. It applies to smartphones and tablets, but the technology is also propagating to digital cameras, game controllers and even lamps.
Waters reiterated IDT generates a lot of free cash flow and remains committed to its stock buyback, which the company is accelerating after authorizing another $300 million purchase.
Cramer said IDT has better products, better technology and a better balance sheet than almost any tech stock he follows.
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