Economy Blog

BoE and ECB to keep monetary policy on hold.…
Fuente Original

NA…
Fuente Original

NA…
Fuente Original

Cramer admitted he missed the top call on Schering-Plough (SGP) on May 14, 2007. Cramer owns SGP for his charitable trust. On May 14 Cramer told investors to buy SGP after the stock was already up 100% from a previous recommendation. The stock plunged all the way down to $13 a share after an expert panel bashed the company’s cholesterol drug Vytorin at cardiology conference in March. Cramer said he underestimated the bad news and the power of the New York Times, which covered the the drug makers problems. Cramer admitted that greed got the best of him when the stock was at $31, he should have told investors to take profits, but instead he put too much confidence in CEO Fred Hassan. Cramer now feels that the negative news is done and the new drug pipeline combined with aggressive cost cutting by Hassan makes the stock attractive at current levels.
…
Fuente Original

Cramer admitted he missed the top call on Schering-Plough (SGP) on May 14, 2007. Cramer owns SGP for his charitable trust. On May 14 Cramer told investors to buy SGP after the stock was already up 100%
…
Fuente Original

Cramer welcomed David Pyott, Chairman and CEO of Allergan (AGN) to the show to discuss his company’s prospects. “Allergan beat consensus estimates in both sales and earnings per share and blew out the numbers in R&D spending by 32%,” said Poytt. He explained that despite the slow Botox sales in the U.S., the company is growing sales for Botox abroad. He said Botox Cosmetic is a small part of the company’s portfolio of products - 10% of Allergan’s total sales come from Botox. Cramer advised investors to buy this stock at $52 because its too cheap and the analysts are too negative.
…
Fuente Original

Real Story Wrap: May 7

…
Fuente Original

Word On The StreetWORD ON THE STREET VIDEOGoogle TradeGene Munster, senior research analyst for Piper Jaffray joined the traders to discuss his thoughts on Google (GOOG). Munster said the stock has considerable upside. He likes the company’s acquisition of YouTube and he thinks advertisers will flock to the video-sharing site once Google figure out how to monetize it. Munster called Google the “Internet” because of its 70% domestic market share for search….
Fuente Original

Real Story Wrap: May 7

…
Fuente Original

Most of the time I have relatively little sympathy for troubled companies. But sometimes they just seem to run into so many body blows simultaneously that you’ve just got to wince a little. And ExpressJet is one of those cases.
Yes, ExpressJet is suffering from high oil prices, as all airlines are. But it is also suffering from something entirely unrelated: the seizing-up of the auction-rate security market, where it parked $65 million of much needed cash. That cash is now unavailable, and ExpressJet has taken an $8.7 million charge against that money - valuing the "cash-like" auction-rate securities at less than 87 cents on the dollar.
…
Fuente Original

Real Story Wrap: May 7

…
Fuente Original

On an unadjusted basis, consumer sentiment in South Korea rebounded marginally in April. The unadjusted index rose 0.7 points from February?s one-year low of 99.7, re-entering positive territory at 100.4. On a seasonally adjusted basis, the expectations index fell a further 0.3 points from March?s 98.0 to 97.7.…
Fuente Original

Word On The StreetWORD ON THE STREET VIDEOGoogle TradeGene Munster, senior research analyst for Piper Jaffray joined the traders to discuss his thoughts on Google (GOOG). Munster said the stock has considerable upside. He likes the company’s acquisition of YouTube and he thinks advertisers will flock to the video-sharing site once Google figure out how to monetize it. Munster called Google the “Internet” because of its 70% domestic market share for search….
Fuente Original

The first portfolio included: Verizon (VZ), JP Morgan (JPM), Dow Chemical (DOW), Merck (MRK) and Altria (MO). Cramer called this portfolio a great high-yielding group of stocks. The second viewer had the following stocks: Rite-Aid (RAD), Sirius Satellite (SIRI), Apple (AAPL), Cal-Maine Foods (CALM) and AT&T (T). Cramer explained that RAD, SIRI and CALM were all speculative stocks. He advised this viewer to add a defense and healthcare stock.
…
Fuente Original

Lightning RoundBullishDuPont (DD), Dow Chemical (DOW), Marathon Oil (MRO), Sirius Satellite Radio (SIRI), World Wrestling Entertainment (WWE), Eaton (ETN), Parker Hannifin (PH) and ONEOK Partners (OKS).BearishMethanex (MEOH), Synaptics (SYNA), Dolan Media (DM), Tesoro (TSO), Akamai Technologies (AKAM) and Spartan Motors (SPAR).Sudden DeathCramer was bullish on Murphy Oil (MUR) and bearish on VeriFone (PAY).
…
Fuente Original

Landon Thomas has a wonderful piece, full of color, on the spat between Jimmy Cayne and Ace Greenberg. Boy can these multimillionaires get petty:

Told that Mr. Cayne, with whom he worked for four decades, had lost much of his net worth and was suffering personally, Mr. Greenberg’s eyes turned cold. “Oh, really. Goodness, that’s a shame,” he deadpanned…
…
Fuente Original

Chain store sales rose 3.6% in April, well ahead of expectations, but lifted to a large degree by calendar effects. Sales were up 1.5% on average over March and April, consistent with weak results seen since September. The early Easter added a selling day to April compared to last year. Improved weather and high gasoline prices also lifted sales. The underlying trend is weak, although perhaps not quite as weak as previously thought.…
Fuente Original

Fundamentals suggest crude will fall, but risks are to the upside.…
Fuente Original

Retail TradeRetail same-store sales figure are due out on Thursday. Wall Street expects the numbers to show a slight improvement from March, with major discounters expected to do the best. What is the trade? Najarian said watch Wal-Mart (WMT). He is seeing bullish options activity in the stock. Finerman said she likes WMT as well. Najarian said he is also seeing bullish options activity on A…
Fuente Original

Sea Change - Wireless WorldWireless Internet access anywhere anytime could seen be a reality for American consumers. A major multi-billion dollar deal was announced on Wednesday between Sprint Nextel (S) and Clearwire (CLWR) to bring WiMax technology to 140 million people by 2010. The new deal is being backed by Google (GOOG), Intel (INTC), Time Warner (TWX) and Comcast (CMCSA). What is the trade? Najarian said look at American Tower (AMT) or Crown Castle (CCI). Finerman disclosed she sold her CLWR position off the news. Macke advised investors to avoid Sprint and buy Intel.T…
Fuente Original