“People are just too negative on Verizon,” Cramer said.
U.S. Steel is also a buy, after reporting a better-than-expected quarter. The company earned $2.65 a diluted share, though the Street predicted only 69 cents. Between management’s solid execution during this downturn and President Obama’s infrastructure-based stimulus plan, X is worth investors’ consideration.
So is Peabody Energy, Cramer said, as this company was a part of Tuesday’s more positive earnings reports. As much as President Obama may want to reduce emissions, Cramer said, Peabody’s conference call showed that the U.S. is still building coal plants. The company said that coal will still be a key fuel source even as late as 2030.
Cramer likes Caterpillar for its 5% dividend yield. Even with the company’s reduced forecast, he said, that payout should be safe. The stock seems to work from a technical-analysis perspective, too, with the chart showing a base is being put in.
Lastly, Cramer said he was bullish on both Bristol-Myers Squibb and Quanta Services. The drug company finally seems to be executing well, and Quanta’s a play on the build-out of the U.S. energy grid.
Cramer's charitable trust owns Bristol-Myers Squibb and Quanta Services.
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