3 mln shares, prior plan complete

Mad About Options: RIM Storm Brewing?: The Mad About Options crew reviews Jim Cramer's recent bullish comments about Research In Motion and offers options strategies for traders and investors. Also hear options ideas for Delta Airlines and SPX Corp. Click here to watch the video.

From a recent Mad Money show: "I'm going to urge you to hold on to this one. It may take forever for that one to get back to even, so I can't say buy more yet. But until then, sit tight."

He mentioned Eaton(ETN), SPX(SPW) and Danaher(DHR) but said he doesn't think they're "there" yet. "Perhaps industrials represent some value," he said.

Cooling system maker SPX Corp. plans to buy back up to 3 million shares of its own stock by Oct. 30, 2009.
The company had 53.3 million shares outstanding on Feb. 22, the date of its last 10-K filing with the Securities and Exchange Commission. The shares will be bought under a 10b5-1 plan, which allows officers and directors of publicly traded companies to buy and sell stock in their companies outside of normal trading hours.
The total represents about 5.6 percent of the company's available stock.
The stock trades for 9x cash flow.

From a recent Mad Money show: "This is a company that's doing everything right, but I cannot recommend an industrial company here."

Picked on May 27,2008

SPX (SPW) was downgraded from Buy to Hold, Deutsche Bank said. $120 price target. Valuation call, as the stock has rallied 78% since the beginning of 2007.

Just my favourite

SPX (SPW) was downgraded from Overweight to Neutral, JP Morgan said. Valuation call. Stock is up 20% since Jan. 10, and is already pricing in strong near-term earnings momentum.