Jim Cramer: Buy Alcatel-Lucent, Avanir Pharmaceuticals, and These 2 Stocks
Jim Cramer made the following calls on September 9th, 2013. What do you think about his picks?
Alcatel-Lucent (NYSE:ALU): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on September 6, 2013. The stock’s 52-week high is $3.45, and its 52-week low is $0.91. Fresh off of their deal with European telecommunications giant Telefonica (ADR), Alcatel-Lucent is in the news for an agreement with Spanish provider Telecable, by which Alcatel-Lucent will use technology to extend Telecable’s Pay TV streaming service to devices such as tablets and smartphones. Alcatel-Lucent will also be bringing in femtocell technology to boost the strength of its 3G network in Germany.
Avanir Pharmaceuticals (NASDAQ:AVNR): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Sell on August 15, 2013. The stock’s 52-week high is $6.00, and its 52-week low is $2.07. Concern abounded on how Avanir’s stock price would react in the wake of their settlement with Wockhardt. Wockhardt had begun selling a generic version of Avanir’s NUEDEXTA capsules, but, under the terms of the agreement, such sales will be most likely postponed until 2026. Avanir has been moving in a positive direction over the last few days.
City National Corp. (NYSE:CYN): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on December 4, 2012. The stock’s 52-week high is $71.88, and its 52-week low is $46.83. Cramer chatted with City National’s president and CEO, Russell Goldsmith, who expressed optimism about the future of his company. He said that demand for loans is already on the rise, as people look to borrow while interest rates remain low. Though Goldsmith did note that refinancing has declined, he claimed that his company’s investments in tech businesses present a great moneymaking opportunity.
Fortress Investment Group LLC (NYSE:FIG): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Sell on January 14, 2013. The stock’s 52-week high is $8.13, and its 52-week low is $3.73. Fortress was in the next last week when it picked up the Dow Jones Local Media Group– the owner of several small newspapers– from News Corp. (NASDAQ:NWSA). Fortress was optimistic about the deal, stating that they intend to get rid of GateHouse Media and merge the contents with their new acquisitions into a company called New Media. So far, the stock has not responded in an extreme fashion.