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Thursday, November 02, 2006

Cramer' STOP TRADING: Cramer on CBS

On CNBC's STOP TRADING segment Cramer discussed CBS (CBS). He said it was actually a decent quarter that was saved because of outdoor billboards, or what he noted as non-TiVo. Cramer is now saying that he is rethinking the share buyback model in favor of dividends. He said that the street is wanting to get dividends because the high cash for buybacks is expensive way of inflating EPS.

I have personally been saying this for years when Cramer and the street have been cheering share buybacks, but oh well.

CBS is up 12% since the split, but Viacom (VIA) is down 4%. Disney is beating Nickelodeon. Cramer said that CBS is just a "Tepid Buy" and VIA is a sell.

On Best Buy Cramer thinks that there could be $3 down before $8 up. He thinks he would be more worried about BBY right now more than the street is, but not on a long-term basis.

He also said to look at ERTS & WFMI today because they have earnings after the close.

Jon C. Ogg
Nov. 2, 2006
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