Jim Cramer's Stop Trading! High on Lowe's

Nokia (NOK Quote) is "doing a lot of things right" that make it the "low-risk way" to play the wireless third-generation upgrade cycle, Jim Cramer said Monday on CNBC's "Stop Trading!" segment.

Cramer also continues to like Lowe's (LOW Quote) in light of Home Depot's (HD Quote) plan to consider alternatives for its wholesale business. Cramer said that the idea of buying into the trade supply business was great but that former CEO Bob Nardelli did so by paying "top dollar for everything." Now, new chief Frank Blake wants to sell "at the low," after the real estate boom crested -- "just so stupid," Cramer said.

Cramer also called Warner Music's (WMG Quote) quarter "the worst earnings report of the season." He said the numbers were "so horrible" that it's clear that the record company is "not an investable situation."