Tyco isn’t worth owning ahead of a three-way split of the company, Cramer said on Stop Trading!.
He thinks former CEO Dennis Kozlowski, serving time for looting Tyco, “put together a crummy company” and didn’t leave much to Edward Breen, who was interviewed today by Erin Burnett. Cramer said Tyco is a pastiche of second-rate companies and he would be more interested in the alarms business – which is the only part of Tyco that’s first class – than either Covidien, the healthcare business, or Tyco Electronics, which will both be spun off later this month.
After news broke that Yahoo! shareholders voted to approve the company’s board 2-1, Cramer repeated his call that shares of Yahoo! would gain a quick five points if CEO Terry Semel resigned.
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