Cramer’s Bank & Retail Picks

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By Douglas A. McIntyre Published
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Stock Tickers: HBC, CFC, WB, FMT, WM, RL, SLM

Cramer today said that the large Saudi investor buying into HSBC (HBC-NYSE/ADR) signals that banks might be attractive now.  This is Maan Al-Sanea, head a huge conglomerate that is not Price Alwaleed Bin Talal.

Cramer said this lends credence that Countrywide (CFC-NYSE), Wachovia (WB-NYSE), and Washington Mutual (WM-NYSE) could all be acquired.  The fact that Fremont General (FMT-NYSE) sold off $2 Billion in subprime lows is showing there is a bid out there.   

Cramer said even SLM Corp, or Sallie Mae, (SLM-NYSE) being bought is showing that these in the group are taking out the short sellers.

On the retail sector, Cramer again pumped up Ralph Lauren (RL-NYSE).  He said that this could to go to $110 to $115 based on the Coach (COH-NYSE) multiple out there.

Jon C. Ogg
April 16, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

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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