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Banking, finance, and taxes

Cramer & Another Bank Merger Pick

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

On today’s STOP TRADING segment on CNBC, Cramer said that he went back over the Merrill Lynch (MER-NYSE) conference call and he thinks that the other mergers in the sector have gone well enough and thinks that Merrill Lynch (MER-NYSE) will buy Countrywide Financial Corp. (CFC-NYSE).  He thinks when they would have liked to have bought it was 6-months ago and it would have been a mistake, but now he thinks this would make sense.  This is part of the fact that Countrywide is the last man standing in subprime loans and is the winner.  He’d buy the JULY CALLS on the stock (CFC-NYSE) as it is going higher and he thinks it could fetch $45.00 to $48.00.

Last night he noted Downey Financial Corp. (DSL-NYSE) as a merger pick, and that one is up almost 3% today on almost 4-times normal trading volume because of his stock tout.  He noted this one again today.

Jon C. Ogg
April 19, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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