CramerEffect.com » qualcomm http://www.cramereffect.com Tracking the Stock Pick's of Jim Cramer Thu, 16 Dec 2010 23:18:50 +0000 http://wordpress.org/?v=2.8 en hourly 1 Bearish Tone in Lightning Round Stock Picks http://www.cramereffect.com/2010/01/bearish-tone-in-lightning-round-stock-picks/ http://www.cramereffect.com/2010/01/bearish-tone-in-lightning-round-stock-picks/#comments Fri, 29 Jan 2010 22:41:06 +0000 admin http://www.cramereffect.com/?p=194 The stock market closed the week on a negative note with the Dow Jones Industrial average falling 53 points to 10,067. The market has been experiencing strong selling pressure that continues to offset solid earnings reports. The bearish tone carried over into Jim Cramer’s stock picks on his Mad Money Lightning Round segment.

Qualcomm
Qualcomm (QCOM: 61.07 0.00%) fell 3.2% after Mr. Cramer called their latest earnings report “an abomination”. Cramer was clearly upset at QCOM’s management for delivering such embarrassing results. The poor guidance was particularly frustrating given the company’s bullish posture 2 weeks ago at the Consumer Electronics show.

Joy Global
Shares of Joy Global (JOYG: 0.00 N/A) and Bucyrus International (BUCY: 0.00 N/A) plunged 2.9% and 5.0% respectively following bearish comments by Jim Cramer. He views the slowdown in China having a negative impact on both stocks. Cramer doesn’t believe the stock has hit bottom yet and cautioned investors to wait to buy this stock.

Deere & Co.
Deere (DE: 87.82 0.00%) stock slid 2.3% after Cramer warned that the stock was headed down in the short term. While Cramer still believes that Deere is a good company, the stock is feeling the negative impact of the slowdown in China. For investors with a 6-9 month outlook the stock will still likely make them money, but in the short-term look for more selling.

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