If you can believe it, Jim Cramer came on CNBC’s nightly MAD MONEY and changed his tune on Yahoo! Inc. (NASDAQ: YHOO). Cramer has been anti-Yahoo! for longer than memory serves. He is now a Yahooligan it sounds like. Imagine Cramer recommending a tech stocks besides Google Inc.
Yahoo! is attractive for several reasons by Cramer’s count. He couldn’t stand Jerry Yang, but said he really likes Carol Bartz and thinks she is going to be a turnaround specialist there. Cramer particularly noted that as CEO of AutoDesk (NASDAQ: ADSK) rose tenfold under her tenure and he thinks advertising is bottoming out if the big media companies are telling the truth. He noted that it is gathering some steam in users, which could reflect against Google depending upon how you interpret Cramer-speak.
Lastly, he noted Microsoft Corporation (NASDAQ: MSFT) and its old acquisition attempt north of $30.00 per share. He does not think Bartz would turn down a price close to there.
Cramer finished up by saying, “I can’t believe I am about to say this, but YAHOO! IS A BUY.”
Yahoo! closed up 1.6% at $14.76, and shares rose about 3% to $15.29 in the after-hours session.
JON C. OGG