Cramer's 'Mad Money' Recap: Avon, Clorox Panic-Proof

Game Plan

In his "Game Plan" segment, Cramer said it's time to buy Tekelec (TKLC Quote), "a nice little telephone-equipment supplier."

For most of the year, Tekelec took a beating, but the situation turned around after the company cut costs and became more profitable, he said. Cramer noted the company recently sold its switching business so it can focus on its core signaling business.

Overall, Cramer said Tekelec's business is picking up, its balance sheet looks good, and it has a good buyback program.

Cramer considers the stock risky because Cisco is also a competitor in the business. However, he said Tekelec should go higher because it is too cheap. And, he opined, if it continues to produce another couple of good quarters, it could even be bought by a company like Ericsson (ERIC Quote).

Cramer rated Cisco (CSCO Quote) a buy ahead of its quarter next week.

Cramer also said Hologic (HOLX Quote), which he owns for his charitable trust, Action Alerts PLUS, is a buy ahead of its quarterly report next week. Allergan (AGN Quote), the stock that plays on America's vanity, reports next week as well. But here Cramer advised viewers to wait until people sell it off before buying it.

Same with Foster Wheeler (FWLT Quote), he said. Long term, he noted, this stock is intact, but it seems to go down every time it reports, so investors should wait until that happens and then buy.