Lightning Round: BP, Merck, Starbucks and More
IDEXX Laboratories : This stock doesn’t fulfill any of Cramer’s requirements for ownership during this downturn – a company near liquidation value, completely immune to the economy or a sizable dividend – so stay away from IDXX.
Starbucks : Cramer said to wait on Starbucks for now. Howard Schultz hasn’t been back in the CEO chair long enough to turn this company around. Don’t buy.
Barclays : Sell BCS, Cramer said.
VNUS Medical : Cramer thinks VNUS would make a great speculation play.
PACCAR : This market is too tough for the industrials, so be careful with PCAR, Cramer said.
Xerox : “I think it’s dead,” Cramer said. The company has too much debt, so don’t buy XRX.
Dominion Resources : Dominion is “too cheap,” Cramer said. “I think that’s a good thing to buy.”
GMX Resources : Cramer likes GMXR, and BP for its dividend yield.
Merck : Merck isn’t Cramer’s pharma play, but he likes health care so much he’ll endorse any buying of MRK. He likes Bristol-Myers Squibb and Abbott Labs better.
Deere : Management’s business execution has been so poor, Cramer can’t recommend this stock. He thinks DE drops to $20 from its present trading price of $28.89.
Cramer's charitable trust owns Abbott Labs, BP and Bristol-Myers Squibb.