On today’s STOP TRADING segment on CNBC, Jim Cramer talked about Starwood Hotels & Resorts (HOT-NYSE) with the stock up 4% after the CEO "Stepped down" after losing the confidence of the board of directors. He got thrown out after doing a turnaround here and as Coca-Cola (KO-NYSE) and he must be personally hard to take because he has actually done a good job.
The regional banks are overvalued and they would sell lower if they didn’t have the dividends. Cramer still likes Citigroup (C-NYSE) because Chuck Prince will add severe value just when he leaves. Cramer thinks Bank of America (BAC-NYSE) is cheaper than the regionals and the regionals may have more risks than the megabanks. Cramer pointed to Countrywide (CFC) being down today after the CEO was on CNBC this morning.
About Goldman Sachs removing Morgan Stanley (MS-NYSE) from its conviction buy list and adding Merrill Lynch (MER-NYSE): Cramer said Merrill Lynch is the one most leveraged to subprime and Cramer thinks these companies must be starting to profit from subprime cleanups now instead of having risk.
Jon C. Ogg
April 2, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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