Cramer on tonight’s MAD MONEY on CNBC said a rumor about insolvency at CIT (CIT) or MBIA (MBI) and Wells Fargo (WFC) were going too far. Cramer said these have bottomed along with a lot of other financials. They are not overexposed to sub-prime. Cramer said the second-third of the market is trying to show you it is putting i a bottom in the financials today.
Cramer also reviewed General Cable (BGC) as one that was battered before even though it blew out earnings. Even after today’s big bounce, Cramer thinks that today should be a buy on it. This company is one Cramer has reviewed before and is the beneficiary of electric, nuclear, and almost every other cable that is used across the company. It also makes fiber optic cable for Triple Pay and VoIP. Cramer said that the copper that is the major cost is now in ample supply and much cheaper than before.
Jon C. Ogg
March 6, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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