Lightning Round: BP, Costco, RIMM and More
Costco : Cramer’s bullish on Costco at $40.
Research In Motion : Cramer said RIMM is too cheap to sell. The stock has underperformed, but he’s won’t walk away from it.
BP : Cramer will admit that the dividend is questionable, but he sees reasons to think BP can make its payment. The stock, though, is already trading as if the cut were going to happen, so there’s a chance BP wouldn’t decline much even then.
MetLife : MET and many of the insures have become too speculative for Cramer to recommend right now. Don’t buy.
Steel Dynamics : Go with U.S. Steel or Nucor instead, Cramer said. AK Steel and Reliance are also better picks.
Aetna : Cramer doesn’t like Aetna or management’s decision to forego a dividend.
Johnson Controls : Stay away from stocks like JCI with autos exposure, Cramer said.
Energizer Holdings : Don’t buy. Cramer’s worried about pricing competition in the battery business.
Starent Networks : The stock’s had a good run, so take profits.
Cramer's charitable trust owns BP.