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Cramer Chats with Covidien’s CEO

CNBC.com
Thursday, 26 Jul 2012 | 6:27 PM ET

Although U.S. stocks closed sharply higher Thursday, “Mad Money” host Jim Cramer recommended investors remain defensive.

Covidien CEO on Earnings & Obamacare
Joe Almeida, Covidien plc chairman, president & CEO, discusses his company's medical device products and recent earnings, and the Supreme Court's health-care ruling.

Investors should look for well-run companies that are “aggressively trying to unlock value” and pay a juicy dividend, as well, Cramer said. He pointed to medical equipment maker Covidien, which reported strong earnings before Thursday’s opening bell. Cramer has long liked Covidien because he thinks it has a strong management team, which is trying to unlock value for shareholders by spinning off its pharmaceutical division while paying a dividend yield of around 1.8 percent.

To dig deeper into its earnings and learn more about its prospects, he welcomed CEO José Almeida onto the show. Check back soon to see the full interview.

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