Filed under: Deals , Market matters , Wrigley, (Wm) Jr (WWY) , Dow Chemical (DOW) , Cramer on BloggingStocks TheStreet.com's Jim Cramer says its stunning buy of Rohm & Haas will get people thinking about an energy top. Just when you thought it was safe to short anything, particularly anything with any commodity exposure, Dow Chemical (NYSE: DOW ) ( Cramer's Take ) comes along and inexplicably pays a gigantic amount of money, $78 in cash, for Rohm & Haas (NYSE: ROH ) ( Cramer's Take )? My first thought was that it must be a joke. That is inconceivable. A hoax. Something perpetrated by frustrated longs to spook the shorts. I mean, a chemical company? Two chemical companies? Ground Zero for slowing economic activity and raw costs? People unsure if Dow could even pay its nearly 5% yield? I mean, even last night on my show, I made fun of the idea that people are confusing Becton Dickinson (NYSE: BDX ) ( Cramer's Take ), a medical supply company, with a chemical company because it uses resin. Amazing. So now, the whole market re-evaluates for a second and wonders whether Dow thinks oil's gone up enough or sees an economic recovery, or whether stocks are just too darned low and they wanted to take advantage of the declines, which they regard as cyclical and almost over. I say that because ROH's lineup is deeply cyclical and is therefore considered deeply history. Stunning. Will it matter? Maybe. But remember Mars and Buffett bought Wrigley ( ...
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Filed under: Deals , Market matters , Wrigley, (Wm) Jr (WWY) , Dow Chemical (DOW) , Cramer on BloggingStocks TheStreet.com's Jim Cramer says its stunning buy of Rohm & Haas will get people thinking about an energy top. Just when you thought it was safe to short anything, particularly anything with any commodity exposure, Dow Chemical (NYSE: DOW ) ( Cramer's Take ) comes along and inexplicably pays a gigantic amount of money, $78 in cash, for Rohm & Haas (NYSE: ROH ) ( Cramer's Take )? My first thought was that it must be a joke. That is inconceivable. A hoax. Something perpetrated by frustrated longs to spook the shorts. I mean, a chemical company? Two chemical companies? Ground Zero for slowing economic activity and raw costs? People unsure if Dow could even pay its nearly 5% yield? I mean, even last night on my show, I made fun of the idea that people are confusing Becton Dickinson (NYSE: BDX ) ( Cramer's Take ), a medical supply company, with a chemical company because it uses resin. Amazing. So now, the whole market re-evaluates for a second and wonders whether Dow thinks oil's gone up enough or sees an economic recovery, or whether stocks are just too darned low and they wanted to take advantage of the declines, which they regard as cyclical and almost over. I say that because ROH's lineup is deeply cyclical and is therefore considered deeply history. Stunning. Will it matter? Maybe. But remember Mars and Buffett bought Wrigley ( ...