On tonight’s MAD MONEY on CNBC, Jim Cramer said some companies fail for many reasons. If you have to have to US consumer spending, the rate cuts might not help. Cramer has two companies that won’t have to make excuses because of the US consumer.
Best Buy (NYSE:BBY) has left competition like Circuit City (NYSE:CC) in the dust. The company decided to sell more electronics farther away from the U.S. The company does not have more exposure internationally than the U.S. but ambitions will go there to be 50/50 by 2010. Cramer slammed Circuit City, just like we did last week. Circuit City also hit today’s 52-week lows. Best Buy still has $2.9 Billion left for share buybacks and is expanding in the U.K. and China. The earnings warning on Lowe’s (NYSE:LOW) is going to pull this down tomorrow.
Jon C. Ogg
September 24, 2007