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Cramer’s Second Defensive Telecom: Alltel, As A Takeover Candidate (AT)

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By Douglas A. McIntyre Published
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Cramer made another defensive pick on telecom stocks after seeing weak retailers, weak autos, and even weaker housing.  His first pick was Verizon (VZ-NYSE) over AT&T (T-NYSE), but his second defensive stock in telecom land is Alltel (AT-NYSE).  Cramer thinks this wireless telecom play could be acquired.  Cramer didn’t think this would be a winner until going over the wireless comments out of Verizon and AT&T, particularly since this has the rural telecom advantage.  Cramer thinks that Sprint (S-NYSE) could acquire it (even though Sprint could be acquired by AT&T or Verizon if the stock falls too hard).  Cramer also noted that the WSJ discussed merger speculation in the sector.  Any of the major telco’s could decide that Alltel is cheaper to just buy than to try to build.  In the recent press release and conference call management refused to address its strategic review, and Cramer thinks that it is close to a deal.  He likes the fundamentals of the stock so he is not just speculating only a buyout.

Jon C. Ogg
May 1, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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