On CNBC’s MAD MONEY tonight, Jim Cramer discussed retail signaling that you need to build a defensive portfolio. Telecom is actually defensive right now after seeing Verizon’s (VZ) and AT&T’s (T) quarters. Cramer is making a change tonight even though he likes both of those stocks: Cramer didn’t say that AT&T is a sell at all, but any new money in the safer telecoms should go toward Verizon. The company has a 4.3% yield and is more defensive with a reputable CEO. He thinks the wireless business is going very well with more than 14% growth year over year and the highest retention rates. The real money that Cramer sees will come from FiOS warring against cable in accelerated revenue growth. Cramer likes the Triple Play, and that is going to help Verizon and that convergence is actually not a joke this time around. He also likes the leverage it now has over Vonage. Comparing AT&T versus Verizon, Cramer says he’s for Verizon now for any new money in the sector.
Jon C. Ogg
May 1, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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