Jim Cramer: Sell Sony, But Buy MGM and These 3 Stocks
Jim Cramer made the following calls on October 25th, 2013. What do you think about his picks?
Sony Corporation (NYSE:SNE): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Sell on December 17, 2012. The stock’s 52-week high is $23.38, and its 52-week low is $9.57. Cramer said that he was not a fan of Sony, noting that an analyst upgrade does not always mean that a stock should be purchased. Cramer has expressed that there are other companies that are good ways to bet on the success of the holiday shopping season, and even the success of the PlayStation 4, without buying into Sony.
MGM Resorts International (NYSE:MGM): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on September 18, 2013. The stock’s 52-week high is $19.35, and its 52-week low is $9.15. Cramer gave a cautious recommendation to MGM, saying that it was a definite buy when it was lower, but now it is more unclear since the price has risen. He did say that it could reach the $25 mark, meaning that there is still time to buy into the company.
PPG Industries Inc. (NYSE:PPG): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on October 17, 2013. The stock’s 52-week high is $165.64, and its 52-week low is $107.43. Cramer sat down with Chuck Bunch, the chairman and CEO of PPG, which recently beat out earnings expectations by $0.12 per share. Bunch said that PPG has benefited from the recent upsurge in several European economies, though many countries in the southern half of the continent still have strides to make before PPG sees gains in those regions. Bunch also mentioned that his company is sitting on a substantial amount of cash, hinting that either an acquisition or a share buyback program could be in the works in the near future.
Icahn Enterprises, L.P. (NASDAQ:IEP): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on May 13, 2013. The stock’s 52-week high is $90.75, and its 52-week low is $37.22. Cramer was optimistic about Icahn Enterprises, saying that it’s never too late to jump on board with the company. Cramer placed confidence in the company’s namesake, one of the larger investors in tech giants and start-ups alike in today’s markets.
Whiting Petroleum Corp. (NYSE:WLL): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on July 22, 2013. The stock’s 52-week high is $55.36, and its 52-week low is $40.19. Cramer talked with James Volker, the chairman and CEO of Whiting Petroleum, who said that his company has been able to capitalize on new drilling techniques that allow the faster creation of oil wells. Volker pointed out that new methods have allowed access to oil deposits found in the Niobrara Shale in Colorado, a region where Whiting is currently very active. Cramer approved of the name, saying that Whiting will be a winner for years to come.