In a post yesterday to his RealMoney blog, Cramer addressed Bank of America/Merrill Lynch's downgrades of Intel (INTC) and Texas Instruments (TXN):

"But I think that if we start looking at Intel and Texas Instruments as big cyclical plays levered more to worldwide growth than to the current tone of the PC or cellphone businesses, we will better understand 1) why they have been strong and 2) why they will remain strong. I would no more sell Intel on this downgrade than I would sell a Honeywell (HON) or a United Tech (UTX) or a Cooper. The world's economies are getting too strong to obey these downgrades and consider these two companies as if they have had huge runs that are now over."

Do you mind if I crow that a big industrial like Illinois Tool Works (ITW - commentary - Trade Now), which has repeatedly cut its outlook, raises it today, or that I expect similar reforecasts from Action Alerts PLUS charitable trust names Johnson Controls (JCI), Cooper Industries (CBE), Emerson (EMR) and Honeywell (HON), and perhaps from Parker Hannifen (PH) and Eaton (ETN) on the heels of the ITW news?

Hold - Price 24.13 on Nov. 24
by Sterne Agee & Leach

CBE expects 4Q08 earnings per share to fall below its prior guidance range of 83 cents to 92 cents....We've reduced our 4Q08 EPS to 70 cents and our full-year '08 [estimated] EPS to $3.40 (from $3.58). We are reducing our 2009E EPS to $3.15 from $3.40 previously....CBE retains significant exposure to [North American] commercial and residential construction, which together account for an estimated 17% to 18% of CBE's sales. About 21% of sales are from Europe, which has also seen a significant downturn...the global credit freeze, dollar appreciation, customer destocking, ...and increased volatility of key commodity inputs have created difficult pricing environments...[leading] CBE to reduce production levels to avoid excess inventory build. Market cap: $3.8 billion.

well run consistent delivery of earnings

inherited but seems to be strong and good dividend

My father in law worked there

Date: 3-15-2007
Split ratio: 2-1

inherited

Downgraded by Prudential from Overweight to Neutral

Upgraded by CIBC Wrld Mkts from Sector Perform to Sector Outperform