Obama ‘Killed’ Wednesday’s Market
Wall Street seems to cringe every time President Obama holds a press conference, especially when the topic is health care. Wednesday was no different.
“He killed the market,” Cramer said of Obama during Stop Trading!.
Investors worry about the costs of enacting health-care reform, Cramer said, and they take down stocks accordingly. And it’s not like the president is going out of his way to allay their concerns. That’s why you can pretty much bet the market will dip every time Obama takes the podium.
In other stock news, Cramer said he expects Anadarko Petroleum to buy up some of the international properties that Devon Energy is selling. APC CEO Jim Hackett seemed to say as much during Tuesday’s Mad Money, and Cramer thinks the company has capital enough to make it happen.
“So Devon at $70’s ridiculously cheap,” Cramer said, adding the properties in question “are worth far more than anybody realizes.”
Cramer likened DineEquity , which reported a commendable quarter today, to Chipotle . He said he likes CMG’s expansion with a new restaurant brand and its move into Europe. The stock is “not done going up.”
RadioShack “is an [leveraged buyout] waiting to happen,” Cramer said. The company’s “finally got momentum,” it’s flush with cash, and there’s “no reason for a lot of these retailers to public.”
Lastly, Tesoro’s sudden spike in share price is a sign that investors should buy Marathon Oil , Cramer said. MRO offers exposure to refining, Tesoro’s main business, but also owns “some great oil properties.”
Cramer’s charitable trust owns Marathon Oil.
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