GE’s earnings miss is going to spell trouble for credit services company CIT Group, Cramer said on Friday’s Stop Trading!. If leasing is as bad as GE’s quarter made it seem, CIT is “dead in the water.”
But at least one component of GE’s business, wind power, appears to be paying off. Cramer thinks the Fairfield, Conn.-based conglomerate, which is the parent of CNBC, could continue to bet on alternative energies like wind and solar. “That’s where the growth is,” he said, although there's plenty of growth in oil, too. For that, he recommended the oil services company National Oilwell Varco .
Switching to technology, a sector Cramer has called “just awful” lately, he expressed bewilderment about the investors who are buying tech stocks for safety. That strategy might work for consumer staples like Coke , Pepsi and Procter & Gamble , he said, but not for tech. “Tech is just wrong here.”
And Google ? The search giant’s strategy seems based entirely on seeing how many people it can hire, according to Cramer. That’s not a business plan. The Mad Money host joked that he’s worried that if he flew to California Google might hire him on the spot.
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