Market Overview

Cramer Says WYNN, SHLD Are Good Buys

Cramer Says WYNN, SHLD Are Good Buys

In his "Stop Trading!" segment, Jim Cramer admitted that he was unable to find a reason for the surge in the market, except for the commodity rally and the optimism related to China. He said that it is a good time to buy Wynn Resorts (NASDAQ: WYNN), as it could benefit from people heading to Macau for gambling during the two-week holiday period around the Chinese New Year.

Jim felt that the market is reacting to too little stimuli. He cited the example of 3M (NYSE: MMM), which rose after it hiked its dividend. Jim felt that the hike wasn’t substantial enough to warrant the jump. He also quoted an example of Cypress Semiconductor (NYSE: CY) which did not move up despite posting impressive Q4 results but has shot up over 4% when gold is strengthening.

Cramer mentioned that he is a fan of Allegheny Technologies (NYSE: ATI) that has received a $4.7-billion takeover bid from First Energy (NYSE: FE). The merger would create a company that would generate about $16 billion in revenues and $1.4 billion in earnings per annum by providing electric service to more than 6 million customers in Pennsylvania, Ohio, Maryland, New Jersey, New York, Virginia and West Virginia.

Meanwhile, Sears (NASDAQ: SHLD) has monetized its brands with DieHard, a much awaited event, and market is not reacted to this news. Jim believes that SHLD has a better balance sheet than investors realize.

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