A Stock Immune to Higher Oil Prices?
For home gamers looking for a stock that's immune to higher oil prices, Cramer on Thursday recommended PerkinElmer.
The Waltham, Mass.-based company makes the tools and technology need for human and environmental health. PerkinElmer makes a variety of proprietary equipment, including early dectection for genetec disorders, medical imaging products for the diagnostics industry and other biotech products. It also produces environment health products, which ensure items are safe for human use and food is safe for human consumption. Considering the disaster in Japan, there is great demand for its services, especially on the radiation side.
On Thursday, PerkinElmer signed a definitive agreement to acquire software and database company CambridgeSoft and completed its purchase of software firm ArtlusLabs. The deals entail a combined value of $220 million. Cramer said the move expands PerkinElmer's software offerings, enabling customers to access and share data. In the end, he thinks it will help to speed up research and development.
To learn more about these deals and what it means for the company's future, Cramer spoke with PerkinElmer CEO Robert Friel. Watch the video to see the complete conversation.
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