On CNBC's special "Markets in Turmoil", Cramer was pumping dividend stocks as "recession protection" stocks including ATT, ED, & Bristol Myers. This might help ED, or it might hurt ED. Not sure how Cramer affects stock moves.
I do not get the love affair that clown has with Con Ed.
Why would anyone pay 18 times earnings for a 3.8% yield, when there are a number of other utilities out there with lower multiples and higher yields, who operate in states where union goons do not have the voice they have in "Joiy-sey".
It's the usual saber rattling of the union upon expiration of their 4 year contract. If the union leadership ill-advisedly goes on strike, with unemployment over 8%, the company will save many millions on salary expense and it will be a looong strike. ED shares will rise!