“There are two kinds of companies operating in this country at the moment,” said Jim Cramer on CNBC’s “Mad Money.” “There are the ones that recognize they have to do something to improve their fortunes and then there are the companies that just sit there and do nothing.”
To Cramer, PPG Industries is a great example of a company that's doing what it can to push its stock higher. "The specialty chemicals company said Thursday it will spin off its commodity chemicals business and then merge it with chemical company Georgia Gulf in a deal valued at about $2 billion.
“This move, brilliant in its simplicity, then calls to the fore all of the exciting specialty chemicals PPG makes for everything from aerospace to eyeglasses,” Cramer said. “This is a global operation with substantial amounts of business in Europe, but [CEO Chuck] Bunch was not willing to let that European business overshadow so many of the positive changes he's made.”
In Cramer's opinion, PPG’s stock would not have rallied as it did without Bunch’s leadership.
Elsewhere in the market, VF Corp’s stock popped after reporting strong quarterly earnings results. The clothing maker posted a higher-than-expected quarterly profit on lower product costs and strong demand for its outdoors and sportswear. It also raised its full-year profit forecast.Page 1 of 3 | Next Page