Cramer's 'Mad Money': Google's Not Done

On the day that Internet-search company Google (GOOG) closed above $300 for the first time, Jim Cramer said on CNBC's "Mad Money" that the stock has more room to rise.

"The bottom line is Google is not done," Cramer said. He said Google had a "weigh-station stop" at $300, but he believes the stock will reach $350 a share. "Google is cheap," he said. "Stocks trade on growth. And there is no company that has the growth that Google has."

In response to a question from a caller, Cramer said he thinks "many people are selling Yahoo! (YHOO) to buy Google." He also spoke positively about Intel (INTC), Microsoft (MSFT) and Cisco (CSCO), saying that "in the second half of the year tech has always come back."

However, Cramer was downbeat on IBM (IBM), saying it wasn't the tech stock to own.

Away from the technology sector, Cramer said he was positive on Boeing (BA), St. Jude Medical (STJ), Constellation Brands (STZ) and Treehouse, a pending spinoff from Dean Foods (DF). With Treehouse, he recommended investors wait for three days after the stock goes public to buy it, because at the outset the shares could see forced selling by money managers who track the S&P 500.

Another caller asked if she should consider Cadbury Schweppes (CSG), but Cramer said Pepsi (PEP) was better. "Those who want a beverage company should look no further than Pepsi," he said.

In the lightning round, Cramer said he liked Odyssey Re (ORH), XTO Energy (XTO), Timberland (TBL), Nike (NKE), Novatel (NVTL), TurboChef (OVEN) and Lucent (LU).

Also getting upbeat comments were McAfee (MFE), Deere (DE), Bowater (BOW), Calpine (CPN), Disney (DIS), Marvell Technology (MRVL), Broadcom (BRCM), Texas Instruments (TXN), National Semiconductor (NSM), Tesoro (TSO), Lockheed Martin (LMT), Northrop Grumman (NOC), Alliant Techsystems (ATK), Enterra Energy (EENC) and Sears Holdings (SHLD).