Cramer Effect Boosts Sallie Mae

Sallie Mae (SLM: 15.76 0.00%) shares jumped almost 8% today after Jim Cramer remarked yesterday that this $8 stock could climb higher and should be at $9 or $10. It certainly came very close today, finishing just off its high for the day at $8.75. 

The “Cramer Effect” also hit Monsanto (MON: 79.14 0.00%) and PNC Financial Services (PNC: 60.43 0.00%). Monsanto fell 1.9% after Cramer reversed his earlier buy recommendation of the stock due to warnings from two different technical analysts. PNC Financial Services (PNC: 60.43 0.00%) gained 1.6% after Cramer declared that the stock has come down too much. Furthermore, he called PNC a winner that he wanted to own now. 

Bucyrus International (BUCY: 0.00 N/A), Joy Global (JOYG: 0.00 N/A), Granite Construction (GVA: 27.20 0.00%) and Radio Shack (RSH: 7.51 0.00%) all managed to post gains despite bearish comments by Cramer on yesterday’s Mad Money show. 

Joy Global gained 1.4% and Bucyrus International jumped 2.7% despite the fact that Cramer said he would avoid buying both stocks now that industrial stocks seem to be out of favor. 

Granite Construction gained 2.3%, shrugging off Cramer’s comments that the stock has too much risk. While Radio Shack jumped 2.4% after Cramer recommended selling the stock.