Cramer: Sprint (S) is Worth $7

Jim Cramer said on CNBC's "Stop Trading! Listen to Cramer" that Sprint (NYSE: S) is worth $7 on earnings only. He added that Sprint (S) is more than a takeover target. Sprint (S) gained 0.21% today, and closed at $4.84.

Cramer also talked about Jones Apparel Group, Inc. (NYSE: JNY). He said that Jones Apparel (JNY) had a great quarter, and emphasized that rumors on higher costs in the shoe business are overblown. Cramer is still believer in the shoe bull market. JNY gained 1.92%, and closed at $17 today.