Tonight, Cramer admitted defeat in IBM (IBM) and Amazon.com (AMZN-NASDAQ) in his SELL BLOCK on CNBC.
IBM (IBM) is one that Cramer said he got wrong after the recent pro-shareholder moves. He is taking Palisano off his Hall of Shame and he’d even apologize to him. The 33% dividend hike is bold, even though a buyback alone isn’t enough. Cramer said that IBM will no longer be one of the worst performer on the DJIA.
Amazon.com (AMZN-NASDAQ) is one that Cramer says he admitted that he hated it and he didn’t realize how well it could do. He didn’t believe they could grow, buyback stock at the same time. When stocks go up insane amounts, they tend to go up again the next day because big funds can’t buy enough stock all in one day.
American Ecology (ECOL-NASDAQ) is one where he’d take profits.
Jon C. Ogg
April 26, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.