Cramer's 'Mad Money Recap': Foster Wheeler: Setting the Record Straight

05/07/08 - 07:45 PM EDT

TheStreet.com Staff

Going forward, Cramer said Schering-Plough is a buy at these prices. He said the company is much more diversified than it previously was and feels that such hostile negative news won't be repeated.

Am I Diversified?

Cramer played "Am I Diversified" with callers to see if their portfolios have what it takes.

The first caller's portfolio included Verizon (VZ Quote - Cramer on VZ - Stock Picks), JP Morgan (JPM Quote - Cramer on JPM - Stock Picks), Dow Chemical (DOW Quote - Cramer on DOW - Stock Picks), Merck (MRK Quote - Cramer on MRK - Stock Picks) and Altria (MO Quote - Cramer on MO - Stock Picks).

Cramer said this was a great high-yielding portfolio.

The second caller's top holdings included Rite-Aid (RAD Quote - Cramer on RAD - Stock Picks), Sirius Satellite (SIRI Quote - Cramer on SIRI - Stock Picks), Apple (AAPL Quote - Cramer on AAPL - Stock Picks), Cal-Maine Foods (CALM Quote - Cramer on CALM - Stock Picks) and AT&T (T Quote - Cramer on T - Stock Picks).

Cramer said Rite-Aid, Sirius and Cal-Maine were speculative stocks and he wanted to see changes made. He suggested adding a defense and healthcare stock to the portfolio.

A Strong Report Card

Cramer once again welcomed David Pyott, Chairman and CEO of Allergan (AGN Quote - Cramer on AGN - Stock Picks) to discuss his company's outlook.

Pyott said his company has a great story to tell, with sales up 23% year over year, earnings per share up 15%, and R&D spending up by 32%.

When asked about the company's slumping Botox sales domestically, Pyott focused on the drug's strength in overseas markets. He also said Botox is only one part of the company's portfolio and accounts for just 10% of its sales.

Cramer said Allergan is cheap, trading at just 17 times its earnings. He told viewers "this is your change to buy it cheap."

Sudden Death

Cramer was bullish on Murphy Oil (MUR Quote - Cramer on MUR - Stock Picks).

Cramer was bearish on VeriFone (PAY Quote - Cramer on PAY - Stock Picks).

Lightning Round

In the Lightning Round, Cramer was bullish on DuPont (DD Quote - Cramer on DD - Stock Picks), Dow Chemical (DOW Quote - Cramer on DOW - Stock Picks), Marathon Oil (MRO Quote - Cramer on MRO - Stock Picks), Sirius Satellite Radio (SIRI Quote - Cramer on SIRI - Stock Picks), World Wrestling Entertainment (WWE Quote - Cramer on WWE - Stock Picks), Eaton (ETN Quote - Cramer on ETN - Stock Picks), Parker Hannifin (PH Quote - Cramer on PH - Stock Picks) and ONEOK Partners (OKS Quote - Cramer on OKS - Stock Picks).

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