Cramer recommended another stock with wind-power exposure, Owens Corning. OC makes the composites for wind-mill blades, so the company should also get a lot of business out of the new Texas initiative.
OC is up about 12% today on rumors of a takeover by PPG Industries, but Cramer said he doesn’t think the deal will happen. So he’s "poo-pooing the rally," he said, "even though I like the stock long term."
Yum! Brands took a hit today after reporting that high raw costs are hurting the business. There’s a chance Yum! could rebound if the next U.S. president got rid of the ethanol mandate at the center of this food inflation, but "the next three months are going to be difficult," Cramer said. He urged investors to keep this inflation in mind if they’re considering buying any restaurant stocks.
As to whether this week’s rally means the hurricane is over, or it’s merely the eye of the storm, Cramer pointed to the Securities and Exchange Commission’s focus on the shorting of Fannie Mae and Freddie Mac. As long as an issuing of equity by the banks follows the move, he said, then "we’ll be fine."
"Everybody needs to do a financing," Cramer said of the banks. "If they do financings, we can live to play again. If not, oil goes back up, and banks go back down."
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