Jim Cramer: Oil is Hanging by a Thread
Oil is 'hanging by a thread' and the bottoming process could be in jeopardy if inventories come in too high this week, says Jim Cramer.
Oil is 'hanging by a thread' and the bottoming process could be in jeopardy if inventories come in too high this week, says TheStreet's Jim Cramer. He added that everybody who 'loved it at $50 now hates it at $40 a barrel.' Furthermore, Cramer said the dividend cut by Williams Companies (WMB) - Get Report was 'not a surprise because they did telegraph it.' The company posted adjusted earnings of $0.19 a share, below analysts' estimates of $0.22 a share. Williams also reduced its quarterly dividend to $0.20 a share for the third quarter, down from $0.64 a share previously.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
