Filed under: Market matters, Caterpillar (CAT), Bristol-Myers Squibb (BMY), Cramer on BloggingStocks

TheStreet.com’s Jim Cramer says the Weyerhaeuser and Bristol-Myers stories slipped under the radar yesterday.

Did anyone even see that Weyerhaeuser (NYSE: WY) (Cramer’s Take) made this great trade with International Paper (NYSE: IP) (Cramer’s Take), getting out of the commodity container board business and pulling in $6 billion to reduce debt? To me, anytime you get out of a commodity business you lift your multiple, even if the rest is constrained by the housing-related lumber business.

Or how about the story that Bristol-Myers (NYSE: BMY) (Cramer’s Take) might sell its baby-food business for a big chunk of change, another $6 billion.

Hmm, $12 billion in shuffles, both good for the shufflers, and no one really cares.

That’s the problem with the endless focus on the financials, something I know I am falling prey to, too. Because of the focus, for example, I also missed that Caterpillar (NYSE: CAT) (Cramer’s Take) traded back to $68 and change after trading up to $75, a terrific opportunity.

Continue reading Cramer on BloggingStocks: Financial fixation can cost you

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This entry was posted on Tuesday, March 18th, 2008 at 6:01 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.