In earnings-related news, Cramer pointed to Black & Decker’s increased third-quarter guidance. He said Fortune Brands and Whirlpool , which are very similar companies, could generate the same kind of numbers. All of these firms have good international exposure and they’ve instituted big restructuring plans to bring down costs. But there was top line growth as well at BDK, and we could see the same from FO and WHR.
Cramer also said that his charitable trust increased its Home Depot holdings as a result of Black & Decker’s announcement, calling HD a “natural” play on hardware sales.
IBM might be too cheap, Cramer said. He admitted that the stock has enjoyed a good run up to $90, but on a longer-term chart IBM has barely moved.
“This stock has literally done nothing,” Cramer said, “even as the company’s gotten better and better.”
Cramer urged investors to look at Ford , whose stock has languished after a jump to about $8 after a secondary offering at $4 and change. The company saw double-digit gains in Europe, lost only single digits in the US and has great leadership in CEO Alan Mulally. Cramer has liked the preferred shares, but the common looks to be making a comeback.
“I don’t know why people aren’t saying that Ford is going to be the world’s greatest auto company,” Cramer said.
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