CCK- Cramer adds to the momentum...

[doctoroe]

CCK- I like it. Just bought CCK yesterday, so needless to say I was pleasantly surprised when Cramer put a strong buy on it tonight. Same rationale I had. It has pretty much put its legal problems behind it and should be a very attractive takeover candidate, at a premium.
This will add to the momentum in the morning, but I may add to the position if it pulls back.
chart is rather impressive:
http://stockcharts.com/def/servlet/SC.web?c=cck,uu[w,a]daclyyay[db][pb10!b20][vc60][iLah12,26,9!Lg]&pref=G

[doctoroe]

Asbestos Fund Is Top Priority in 2006, Frist Says (Update2)

Nov. 16 (Bloomberg) -- A proposed $140 billion fund for victims of asbestos exposure will be the U.S. Senate's top priority next year, Majority Leader Bill Frist said today.

``The Senate will finally resolve the asbestos litigation crisis,'' Frist of Tennessee said in a Senate floor speech. ``The day has come for us to fix it.''

The Senate Judiciary Committee will conduct a hearing tomorrow to determine whether $140 billion is enough to cover all claims. A private study said the fund, to be financed by companies that made asbestos products and their insurers, would need $300 billion to pay current and future lung-cancer claims.

The proposed fund would end litigation that has forced 77 companies, such as USG Corp., the world's largest wallboard maker, into bankruptcy. The measure would pay victims of diseases such as cancer up to $1.1 million if they can prove the cause was asbestos.

In a letter to Frist and Senate Democratic leader Harry Reid, Senate Budget Committee Chairman Judd Gregg, a New Hampshire Republican, and Kent Conrad of North Dakota, the committee's ranking Democrat, questioned how much must be borrowed from the U.S. Treasury to start the compensation fund.

In response, Judiciary Committee Chairman Arlen Specter, a Pennsylvania Republican, and Patrick J. Leahy of Vermont, the panel's ranking Democrat, said the fund wouldn't impose any burden on taxpayers. The bill would ``explicitly absolve the federal government from any liability,'' they said in a letter to Frist and Reid.

Shares Rise

Shares of asbestos-related companies rose after the announcement by Frist.

http://www.bloomberg.com/apps/news?pid=10000103&sid=aItERc8e2mrE&refer=us

[doctoroe]

Longbow Research today raised Crown Holdings CCK 2006/2007 estimates on lower interest expenses- and put a buy rating on the stock.
The firm is raising its 2006 estimate to $1.39 from $1.21 and 2007 estimate to $1.58 from $1.42.