Research in Motion , Cramer added, is in a similar position. The company has been performing well, but given Wednesday’s worse-than-expected earnings pre-announcement, obviously not well enough.
Elsewhere in the market, deepwater oil driller Transocean has generally trended up over the past month, even though oil prices continue to fall. Cramer said he think the RIG action is right, and that oil futures are “artificially depressed.”
The market responded well to Freeport-McMoRan’s secondary offering, largely because the money raised will be used to pay down $750 million in debt. The move will save FCX from the same fate as Terex, Cramer said, which stumbled when some of the company’s debt came due.
And lastly, Goldman Sachs downgraded retailer Kohl’s to a sell, citing a stretched valuation. Cramer agreed, saying, “I think the piece made a lot of sense.”
Watch the video for Cramer’s take on Goldman Sachs’ alleged “emergency meeting,” as well as a call on Gazprom.
Cramer’s charitable trust owns Freeport-McMoRan and Goldman Sachs.
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