Cramer Totally Changes His Stance On Yahoo! (YHOO, GOOG, ADSK, MSFT)
May 14, 2009 by Douglas A. McIntyre
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
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.