Cramer Previews General Motors Earnings
Cramer plans to hear from “one of the biggest disappointments of this era” on Thursday morning: General Motors. The U.S. automaker will report its earnings results before the opening bell.
“They took out the costs. They revamped the product line. All before they brought it public. Now almost everyone's still got a colossal loss,” Cramer complained. “I think that GM has no idea how to deal with Wall Street.”
The Detroit-based company’s saving grace may be that it has a big business in China, Cramer continued. Should the People’s Republic cut rates and expectations for Europe are wrenched out, he may consider GM at $22 a share.
Meanwhile, clothing makerVF Corp. is also scheduled to announce earnings before the open. The weather has been too warm for The North Face maker to blow away the numbers, Cramer surmised. It also has a lot of exposure to Europe, which continues to deal with its sovereign debt crisis. Considering the stock has had a huge run lately, he recommends taking profits ahead of the quarter.
Read on for Cramer's "Game Plan" for the remainder of the week
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