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Cramer on BloggingStocks: Autos, aerospace are down for the count |
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| Jun 26, 2008 09:30 AM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Analyst reports, Analyst upgrades and downgrades, General Motors (GM), Market matters, Citigroup Inc. (C), Johnson Controls (JCI), Honeywell Intl (HON), United Technologies (UTX), Cramer on BloggingStocks TheStreet.com's Jim Cramer says recent downgrades are killing whole industries, and they're coming at a terrible time. You can't lose autos and aerospace. Yet that's what's happening. The devastating aerospace downgrade by Goldman yesterday had pin action galore, wrecking everything from United Tech (NYSE: UTX) (Cramer's Take) and Parker-Hannifin (NYSE: PH) (Cramer's Take) to BE Aerospace (NASDAQ: BEAV) (Cramer's Take). It took the whole frame down with it and made everything toxic. And it happens at a terrible time. It isn't like Honeywell (NYSE: HON) (Cramer's Take), which with a few days left in the quarter can come out defending itself. Goldman rolled a perfect strike. And now the bowlers are back for more with an equally devastating "sell everything" call based on GM (NYSE: GM) (Cramer's Take). Once again it is seamless: Lear (NYSE: LEA) (Cramer's Take) and Tenneco (NYSE: TEN) (Cramer's Take) get jettisoned too, but you know that Visteon (NYSE: VC) (Cramer's Take) and American Axle (NYSE: AXL) (Cramer's Take) and Johnson Controls (NYSE: JCI) (Cramer's Take) and BorgWarner (NYSE: BWA) (Cramer's Take) -- the good ones! -- go down with the car. Continue reading Cramer on BloggingStocks: Autos, aerospace are down for the count Permalink | Email this | Comments<map name="google_ad_map_145-1237373"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1237373?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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