20 novembre, 2006 20:21
Cramer on mergers, breast implants, and rimsPosted Nov 20th 2006 3:55PM byJon Ogg
Filed under: Analyst reports, Television, Allergan (AGN), Bausch & Lomb (BOL), Research in Motion (RIMM)
On today's STOP TRADING! segment on CNBC; it's merger-mania these days and Jim Cramer had a lot to discuss.
Hard to find a common reason for all the mergers lately, he said. In the case of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX)'s recent bid for Phelps Dodge Corporation (NYSE:PD), the reason was so the smaller company had a safer, more reliable source of copper, among others.
Cramer thinks the overall market is undervalued with a 17 P-E and all the cash on the sidelines.
Cramer discussed breast implant approvals. He said Allergan, Inc. (NYSE:AGN) is a genius company doing everything right by focusing on the plastic surgery boom. It's profiting from Bausch & Lomb Inc. (NYSE:BOL) woes. Cramer thinks that AGN should have been higher anyway and this is just icing on the case. He thinks it is still too cheap and therefore a hold.
The hand-held wireless device BlackBerry is the gift for Christmas, Cramer says. And no surprise: BlackBerry makers Research in Motion Limited(NASDAQ:RIMM) is galloping up to meet the challenge. Buy it, he says.
