Stock Tickers: VG, JNJ, FBR
Tonight, Cramer ran through his weekly SELL BLOCK on CNBC’s Mad Money. This is where he reviews past recommendations and shows where he was a champ or chump and where he recommends for you to still Buy, Sell, or Hold.
Tonight, he first discussed the new Vonage (VG-NYSE) CEO aqfter Snyderwas replaced with Citron. Cramer said Citron should not be allowed tobe a CEO because he was barred by the SEC in 2003 after being CEO ofDatek.
On J&J (JNJ-NYSE) Cramer said he had it wrong. He said no one isbest of breed forever and he said it needs to go because its pipelineis anemic. J&J’s #1 drug goes generic at the end of this year.Invega is going very poorly according to Cramer.
Friedman Billings Ramsey (FBR) is trying to make an IPO for its unit,and Cramer said you should sell both because they have problems. FBRis spinning off its Capital Markets division and while he likes theirresearch, he said the math does not add up for a $243 million IPOcompared to others and compared to its parent company. So much forthat weekend newsletter piece, because I was looking at some of thesame issues as a "Backdoor Play That Backdoors Future Investors." Ohwell.
Jon C. Ogg
April 12, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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