Cramer Says Buy JPMorgan, Raymond James, These 2 Stocks
Jim Cramer made the following calls on July 23rd, 2013. What do you think about his picks?
JPMorgan Chase & Co. (NYSE:JPM): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on July 12, 2013. The stock’s 52-week high is $56.89, and its 52-week low is $34.76.
Cramer has been bullish on many financials, and JPMorgan made the cut for his recommendations on Tuesday’s show. He also owns the stock in his charitable trust, along with Wells Fargo (NYSE:WFC). Highlights from second quarter results include Consumer & Community Banking deposits going up 10%; mortgage originations moving up to $49.0 billion, up 12%, and Credit Card sales volume reaching a record $105.2 billion.
Raymond James Financial Inc. (NYSE:RJF): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $48.22, and its 52-week low is $30.99.
Cramer’s words were choice when he issued the buy recommendation during the lightning round, saying that, “”I do like this stock.” The company is expanding the role of social media in its operations, partnering with Hearsay Social to give Raymond James advisors more means to reach out and build or expand client networks.
Radian Group Inc. (NYSE:RDN): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on July 17, 2013. The stock’s 52-week high is $14.34, and its 52-week low is $2.65.
Radian was a two way victory for Cramer, both based on his bullish view for the housing market, as well as the little competition he feels Radian has in the mortgage insuring space. The road the the housing recovery isn’t without bumps though, and Radian reported a loss for the second quarter of the year. The company took a $33.2 million dollar hit in the second quarter of 2013.
Rambus Inc. (NASDAQ:RMBS): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Sell on July 30, 2010. The stock’s 52-week high is $10.85, and its 52-week low is $3.78.
“I like Rambus. They’re OK by me,” said Cramer during the lightning round. In last weeks earnings, Rambus reported a loss of $57.9 million, or 13 percent, since the first quarter, due largely to a one time royalty the received then. Compared to the period last year, revenue was up 3 percent, and markets have been placated, pushing the stock towards its 52-week high.