On CNBC’s STOP TRADING segment yesterday, Jim Cramer was saying he is ready to annoint an oil company.Yesterday, Cramer first went over Cisco (CSCO) as THE new convergence play and he said the stock is not done going up. Cramer said he thinks that drug stocks are now overdone and they should start being bought gradually, but not all at once.Cramer was very positive on ExxonMobil (XOM) now that oil has bottomed. Cramer said it trades at 10-times earnings and this is the one that fund managers want to show they own it. Cramer said the democrats even with the drilling limitations won’t hurt it too bad. This is the one that isn’t a wildcatter and is the most predictable. Cramer said he likes Chevron (CVX) better than XOM, but that doesn’t matter because the street and funds like XOM better.Then Cramer discussed Borders Group (BGP). He called it a Buy at $18 to $19, but now he thinks it can go to mid-$20’s rather than mid-$30’s.Jon C. Ogg
Cramer Annoints Exxon (XOM)
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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