Cramer: NYSE Is a 'Solid Buy'

Investors are overlooking NYSE Euronext’s recent successes, Cramer said during Friday’s Stop Trading!, focusing instead on other exchanges. That’s a mistake.

“This stock on weakness,” Cramer said, “is a solid buy.”

May volumes at NYSE were “gigantic,” indicating that the stock’s move higher is based on solid fundamentals – business is up. A return to a regular IPO schedule would be “gravy” at this point, Cramer said. While investors are focused on Intercontinental Exchange or CME Group, NYSE and its dependent dividend are also worth consideration.

A number of banks are doing well after secondary equity offerings, notably Fifth Third , but Bank of New York Mellon is not among them. The stock has barely moved since BK’s secondary, even though the business itself has improved “dramatically,” Cramer said.

“That might be the buy in the group,” Cramer said of BK.

Cramer also likes Travelers, and he predicted money managers in search of financial stocks will, too. Given the limited choices the sector offers, TRV’s increasing earnings estimates, a result of taking market share from weaker competitors, might make this “the safe play in the group.”

Lastly, Yahoo! is a buy. And not as speculation on a possible takeover. Cramer is bullish on the company’s new CEO, Carol Bartz, and the improvements she has made in Yahoo!’s business.

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