Don't Bank on WaMu Yet
Switching to all the Microsoft-Yahoo! talk, Cramer wanted any doubtful viewers to know that CEO Steve Ballmer “has never postured in his life.” If he’s talking about a hostile takeover, he means it.
Starwood Hotels plans to open 54 new hotels and add 20,000 new rooms by 2009, the company announced. About $1 billion will go into renovating existing hotels. That’s not enough to squeeze a recommendation out of Cramer, though.
“I don't want to be in the group,” he said during Monday’s Stop Trading!, “and I don't want to own the stock.”
Lastly, Cramer named Alcoa his “least favorite minerals stock.” Cleveland-Cliffs, which he recommended at $70 and is now at $140, is a better choice.
“I prefer Cleveland Cliffs at $140 than I do Alcoa at $37,” he said. “Can I be more adamant than that?”
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