Jim Cramer Says Buy Pinnacle Foods, Stay Away from AstraZeneca

TheStreet.com Videos 1:01 mins

TheStreet's Jim Cramer says when Hillshire Brands bought Pinnacle Foods there was an undercurrent in the market that perhaps Hillshire was about to be acquired. Cramer says that may have been the case as Pilgrim's Pride came out of nowhere with a very high bid for Hillshire. Cramer thinks Pinnacle Foods was doing well and now the stock is down almost 10 percent, creating an opportunity to pick up some shares of the "jilted" Pinnacle. But, Cramer does not feel the same way about AstraZeneca, which was jilted by Pfizer not wanting to raise its bid. Cramer doens't like AstraZeneca's pipeline or prospects and advises investors to stay away from the pharmaceutical company.

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