Jim Cramer's 'Stop Trading!': Buy Shaw Group

Buy Shaw Group (SGR Quote) Jim Cramer said on CNBC's "Stop Trading!" segment Wednesday.

Cramer said that the stock, down 4% today, overreacted to an earnings statement today. He agreed with the company's contention that it is a nuclear power play. "When you look at these infrastructure plays," he said, investors "react short-term to what should be long-term" news. He said he would buy the stock and that the company has a great outlook over the long term.

Circuit City (CC Quote) shares fell after the company offered a gloomy forecast in its earnings report. "Best Buy (BBY Quote) is best in show," Cramer said. "It's given up all those gains it's had after that better-than-expected quarter. ... I don't want to touch Circuit City."

Cramer noted that many early-cycle retailers have been "clobbered" today. He attributed their decline to a disappointing first-quarter outlook from UPS (UPS Quote). "I think retail is doing awfully," he said.

Bed Bath and Beyond (BBBY Quote), which was down 5% today, has a "great balance sheet," Cramer said, but "I'm not a buyer of it." He said Pier 1 (PIR Quote) might be due for a comeback, but he is not recommending any retailers besides Costco (COST Quote), Wal-Mart (WMT Quote) and Urban Outfitters (URBN Quote).

"I feel that Wal-Mart is very very right here," Cramer said. As for Urban Outfitters, he said the company is a "misunderstood story" and praised its guerilla-style marketing.

In tech, Cramer predicted that Cisco (CSCO Quote) shares would fall to $21 or $22.