Tonight on CNBC’s MAD MONEY, Jim Cramer also talked about what a great day today was. He thinks the bears will have to stage a raid, but look for totem stocks to hang your hat on. Last summer he thought buyback stocks were the ones to hang your hat on, but he is saying again that now you want to do it with dividends.
Because of a selloff a stock that has been forgotten is Emerson Electric (EMR). EMR should have 15% growth, trades at 15-times earnings, has a 2.5% yield, it already reported in November, and it may be immune from the fallout in any sell-off. You can now get into the stock lower than when thgey boosted the dividend, and that shouldn’t be the case.
It closed at $85.12 in normal trading (down 0.1%) but was up around $86.00 after Cramer touted the name. The yearly high is $90.42.
Cramer thinks they are drawing a line in the sand, but with a fed that may cut rates before raising them you want to own high dividend stocks.
Jon C. Ogg
December 4, 2006
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