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Stop Trading!

If Arcelor Mittal has M&A on the mind, and that’s what founder and CEO Lakshmi Mittal said during an interview on “Squawk on the Street” today, Cramer thinks he knows who the likely targets are: Allegheny Tech and Haynes International for their high-performance steel, and Reliance Steel because it’s just too cheap.

“You have to recognize that when he tips his hand like that, you have to re-jigger your portfolio,” Cramer said, speaking of Mittal.

Morgan Stanley is up since its quarterly report, just like Cramer said he thought it would be. He thinks there are plenty of reasons for investors to hold on to the stock.

“I see the analysts piling on and pushing it very hard tomorrow,” he said.

Cramer has been saying that there should be consolidation in the homebuilding business, but apparently companies in the sector think their rivals are too expensive to acquire, he said. But with Standard Pacific below book value, a company like KB Homes might have found it’s mark.

Questions? Comments? madcap@cnbc.com

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HAYN
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