Wynn's second-quarter revenue was up 15% year over year to $687.5 million, and Cramer believes this profitability will continue. He called the company a "Wynn-win situation," adding that "the world is Wynn's oyster."
Buy Wynn as it comes down, Cramer said.
Free to Be IGT
Considered "the arms dealer" to companies such as Wynn and LVS, Cramer said,
International Gaming Technology (IGT Quote - Cramer on IGT - Stock Picks) is in a position to grow.
IGT, which Cramer owns for his charitable trust,
Action Alerts PLUS, is down 23% from its high. He said that it is simply "on sale."
IGT reported 9% growth year over year on gaming operations revenue in the third quarter. In addition, the company is doing a $50 million buyback. Cramer believes that it "doesn't take a lot to move the stock higher," especially as IGT has nothing to do with the Fed.
Cramer said that IGT is a long-term investment that should not be sold before 2008. It is an undervalued global play in an untapped market. As such, investors should wait at least five days before buying.
Wouldst Thou Woodmark?
American Woodmark (AMWD Quote - Cramer on AMWD - Stock Picks) is buying back $100 million, or 25%, of its total shares.
He believes that "AMWD is not-so-gradually taking itself private."
Cramer believes not only that these buybacks show confidence within the company but also that less stock being available "will help you long-term."
TheStreet.com Staff
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