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Cramer: Defensive Stocks Are The New Good Banks (PEP, KO, PG, CL)
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On tonight’s MAD MONEY on CNBC, Jim Cramer noted that he wanted to look for the new banks. Even thougfh these aren’t really banks, they are the defensive stocks that are still printing money and have cash to keep retiring stock. In fact, these defensive stocks are some of the same ones we have noted over and over that investors are seeking. His four picks tonight were as follows:
- Pepsico, Inc. (NYSE: PEP) closed up 1% at $69.15 (52-week high $79.79);
- Coca-Cola Co. (NYSE: KO) closed up 0.3% at $57.69 (52-week high $65.59);
- Procter & Gamble Co. (NYSE: PG) closed up 0.45% at $67.05 (52-week high $75.18);
- Colgate-Polmolive Co. (NYSE: CL) closed up 0.5% at $76.66 (52-week high $81.98).
These are among the top defensive stocks on our defensive index, and all four of these closed higher today.
Jon C. Ogg
March 17, 2008
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