Cramer’s TOP SPECULATIVE STOCK FOR 2007 tonight is Level 3 Communications (LVLT).
If you will review my US Stock Market Closing Wrap from the today’s close, I actually noted that Level 3 closed up huge today in hopes that this Level 3 would be one of Cramer’s top speculative stocks tonight since he has been so positive on it. Cramer said the Broadwing deal closed yesterday and it was up from the arbitrage, but I think it was up because he’s already been so positive on this one as a speculative stock for some time. Cramer thinks they have a huge broadband pipe in a universe that is essentially facing a potential bandwidth shortage. Even though the shares closed up more than 6% to $5.93 today, the stock ran almost 5% more to $6.20 after hours. He thinks that the high debt level is ok because there is high-demand from the junk bond buyers for their debt and they are smarter than stock traders. The rest you have heard most of before.
His second pick for Speculation was Rite Aid (RAD).
His third pick for Speculation was Savient Pharma (SVNT).
Have a great weekend.
Jon C. Ogg
January 5, 2006