Cramer's 'Mad Money' Recap: Time Warner's Time to Shine

The company's AOL division is "turning big," and Cramer said he wouldn't be surprised if it turns out to be worth something.

If market players are out for capital appreciation, they should go with Time Warner because even though Comcast is the better company, "it has already had a big run," and "it's Time Warner's time to shine now."

Am I Diversified?

In Cramer's "Am I Diversified" game, his first caller owned the following five stocks: Time Warner (TWX Quote), Yahoo! (YHOO Quote), Oracle (ORCL Quote), Sirius Satellite Radio (SIRI Quote) and Genentech (DNA Quote).

Cramer told the caller he likes Time Warner more than Yahoo!, even though he owns the latter for his charitable trust, Action Alerts PLUS. Therefore, he recommended selling Yahoo!, as both are media stocks.

His second caller named the following five stocks: International Gaming Technology (IGT Quote), Sealed Air (SEE Quote), Playboy Enterprises (PLA Quote), Cheesecake Factory (CAKE Quote) and Duke Energy (DUK Quote).

Cramer said the caller's portfolio was diversified, but said instead of Sealed Air, Playboy and Cheesecake, he likes Crown Holdings (CCK Quote), McGraw-Hill (MHP Quote) and Darden Restaurants (DRI Quote), respectively.

A Pal in HAL

Cramer welcomed Halliburton (HAL Quote) CEO David Lesar to the show and asked him what might be the root cause of his stock's underperformance vs. the underperformance of the oil group.

"I think, first of all, people have overreacted to gas prices in North America," Lesar responded. "We clearly have a wonderful position in North America, and I encourage people to embrace that position, not discount it.