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While a lot of companies are struggling in this market, Waste Management seems to be doing well. The company reported a strong quarter Monday, and closed the day up 18%.
“We’re a safe harbor in uncertain times,” CEO David Steiner told Cramer.
In addition to the increased profits, Waste Management [WMI
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] is also sitting on a nice pile of cash now that the company’s withdrawn its $6.73 billion offer for Republic Services [RSG
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]. Steiner said the financing risk was too great right now, but promised to return that money to share holders through buybacks and dividend increases, saying, “Long term, that’s absolutely our plan.”
“Any pullback you want to be a buyer” of Waste Management, Cramer said.
Watch Cramer's interview with CEO David Steiner.
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