Stop Trading!: Sell Garmin
Web Editor, "Mad Money"
Royal Philips Electronics' proposed buyout of American commercial-lighting company Genlyte might have been a green light for other European firms to take advantage of the weak U.S. dollar, Cramer said on Monday's Stop Trading!.
An expensive euro has put companies like BASF, Siemens and Nestle's in position to pick off smaller American businesses at a hefty premium. Genlyte fetched 52% more than its closing share price last Friday, Nov. 23. Cramer recommended LSI Industries as a pin-action play on Genlyte. Rockwell Automation was worth a look, too, he said.
Garmin should have a good Christmas, but after that the stock is a sell. The competition in the global-position space is fierce, and Cramer thinks Garmin's product "will be beaten by Nokia 18 months from now."
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