Cramer on CNBC’s MAD MONEY also had another two CEO’s that you can count as one who deserves the benefit of the doubt on:
Cramer thinks that a retailer CEO that can be given the benefit of the doubt even after bad numbers is Mike Ullman of JC Penney Corp (JCP). The CEO wasn’t happy with the quarter and he was upset about the inventory, expenses, and product mix. But the CEO said he was upset and said he would get it back on track in the next quarter. The stock fell after the report to $77.00, but Cramer said the March numbers are coming in great. Cramer thinks you can back him.
The second name on the list is one that Cramer didn’t believe before, and the CEO made Cramer look bad because Cramer didn’t believe him. Terry Lungren of Federated (FD) came on MAD MONEY after a big miss and said that that wouldn’t happen again. As it turned out, after hitting $36 and after Cramer turned his back on it, and it closed today at $46.23.
Jon C. Ogg
March 27, 2007
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