With the market down sharply for the third day in a row, Cramer said on today’s Stop Trading! segment that investors should not be buying aggressively right now. “I like a sell-off that shakes people up,” he said. “Respect the futures and their ability to drive down the market.”
In the cola wars, Pepsi made headlines today by buying an 80% stake in a Ukranian juice company. The deal was for $542 million, which isn’t pocket change even for a behemoth like Pepsi. Cramer said the acquisition shows that Pepsi has “made a major commitment to international” growth. It’s a good move, Cramer said, but he still slightly favors rival Coca-Cola . “Coke down at $51 is pretty attractive.”
Cramer also likes Dick’s Sporting Goods , which reported 20% earnings growth and a plan to open 80 new stores next year. Cramer is bullish on Dick’s because it has what Wall Street wants – growth.
And Cramer said SunTrust Banks is a buy as the Atlanta-based bank announced an $800 million buyback amid continued speculation that it will get taken over. “A $30 billion bank is not big enough anymore to be independent,” Cramer said.
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