Refinery earnings were “horrible,” Cramer said during Wednesday’s Stop Trading!. He urged investors to stay away from the group.
ConocoPhillips’ quarter was “just terrible,” he said. So bad, in fact, that Cramer called it “the worst of the integrateds.” Valero Energy also announced disappointing earnings.
“This is a company that has to rethink itself,” Cramer said of COP, “because this was just an awful quarter.”
The Mad Money host also offered a play on CIT’s troubles. With the lender to small and medium-size businesses curtailing loans, companies less dependent on CIT should take market share.
Cramer pointed specifically to the restaurant sector where stronger, more independent companies like Buffalo Wild Wings and Brinker International could overtake their privately run peers. He likened it to buying Best Buy as a play on Circuit City’s collapse.
“I like this trade,” Cramer said.
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