Jim Cramer: Buy Johnson & Johnson, JPMorgan, This Stock; Sell NetQin
Jim Cramer made the following calls on July 12th, 2013. What do you think about his picks?
Johnson & Johnson (NYSE:JNJ): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on May 20, 2013. The stock’s 52-week high is $89.99, and its 52-week low is $66.85.
Considering this a favorite turn around story, Cramer told viewers to buy this stock. His website has also rated it a buy since the end of June, pointing to, “revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance.” J&J has also announced recent plans to open an ‘innovation center’ in Boston which will partner with academics and entrepreneurs to invest in and, according to Paul Stoffels, M.D., Johnson & Johnson Chief Scientific Officer and Worldwide Chairman, “advance human health.”
JPMorgan Chase & Co. (NYSE:JPM): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on June 26, 2013. The stock’s 52-week high is $55.90, and its 52-week low is $33.10.
Cramer now cites JPMorgan and Wells Fargo (WFG) as his favorite banks, and in the case of the former, he values the resiliency shown by Jamie Dimon’s outfit. The Mad Money host’s logic is simple: if JPM could make as much money as they have in a down economy, surely they must be able to make more with higher interest rates and lower unemployment. Credit card sales volume was up for JPM in the second quarter, along with mortgage originations and banking deposits, all features Cramer loved.
Schlumberger Limited (NYSE:SLB): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on April 25, 2013. The stock’s 52-week high is $82.00, and its 52-week low is $65.54.
With earnings due Friday, Cramer said he would buy Schlumberger, who operations focus on information solutions to oil and gas exploration and production industries. Cramer’s website rates it as a hold, but the company has been active lately, announcing a deal at the end of last month with another company to manufacture and develop products, systems and services for the subsea oil and gas market. The venture, OneSubsea, became active on June 30th.
NetQin Mobile Inc (NYSE:NQ): Jim Cramer ranked this stock a Sell. The stock’s 52-week high is $10.68, and its 52-week low is $5.07.
Cramer did not like NetQin during the lightning round, one of several stocks making it into the sell category. While the company is diversifying its mobile games portfolio, and has expanding operations in China, Mad Money’s host was not sold on this stock, saying that, “I’m going to pass on this one. I’m not going there.”