Cramer Talks Fannie, Freddie, Biotech

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On today’s STOP TRADING segment on CNBC, Jim Cramer discussed Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) and said he just took a big profit on Fannie Mae. On Countrywide Financial (NYSE:CFC) he would watch the deposits over $100,000.00 that are FDIC insured to see if the clients are worried about the bank failing, and then he’d look for a trade if the deposits aren’t leaving the bank.

On Lamar Advertising (NASDAQ:LAMR), this one came straight down on safety concerns that moving LCD ads on highways may get some regulation over safety issues because ads are too eye catching.

In biotech-land, Jim Cramer also discussed the news out of PDL Biopharma (NASDAQ:PDLI) after the CEO finally quit after endless pressure to leave and this one could now finally be acquired for much higher.  Shares are up about 5% today now that he is finally out of the way.

Jon C. Ogg
August 20, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.