Cramer Talks About VIP, T, VZ, NVS, SNY, CIEN
November 24, 2009 7:56 AM
CNBC’s Mad Money Jim Cramer thinks that Vimpel-Communications (ADR) (NYSE: VIP) is too risky now and advised the investors to buy AT&T Inc. (NYSE: T) and Verizon Communications Inc. (NYSE: VZ) instead for a while.
So far this year, shares of VIP have surged over 195% and recovered over 300% from its 52-week low of $4.81.
When an investor asked Cramer about Novartis AG (ADR) (NYSE: NVS), he said that although NVS is a great company, but given the run up it has shown one should get out of the stock and invest the same money into Sanofi-Aventis SA (ADR) (NYSE: SNY).
In the past 6 months, NVS gained over 36%. Yesterday, SNY closed at $38.62.
After yesterday’s fall of about 9%, when an investor asked Cramer’s advice on Ciena Corporation (NASDAQ: CIEN), he suggested to buy CIEN.
Yesterday, CIEN agreed to acquire Nortel Networks Corp.’s division that develops networking gear used to transmit data and voice traffic within and between cities, for a total of $769 million, or nearly half again its original bid.
