Allscripts Soars After Cramer Calls It A Winner

Allscripts (MDRX: 21.26 0.00%) shares jumped 11.8% to reach a new 52-week high on Thursday. The stock benefited from a better than expected outlook from the company as well as bullish comments by Jim Cramer on his Mad Money show. Cramer called the stock an “Obama play” and “a winner”. 

Cramer also recommended Hudson City Bancorp (HCBK: 7.01 0.00%) which has remained virtually unscathed by the credit crisis so far and has not received TARP money. The bank holding company gained 3.8% after Cramer rated Hudson City a buy with a clean balance sheet and a recently raised dividend. 

The “Cramer Effect” also lifted YUM Brands (YUM: 64.44 0.00%) shares 3.3% today. Cramer believes that this quarter’s earnings are going to be great. “I think it’s a great long-term situation. I think it’s cheap.” 

Bucking the trend today was Fortune Brands (FO: 0.00 N/A) which gained 3.6% despite being one of Cramer’s bearish stock picks. Cramer stated, “I think this one’s three to four points overvalued. Their mix of businesses isn’t working right now. All this bodes poorly for Fortune Brands.”