Cramer's 'Mad Money' Recap: Next Week's Game Plan

Also for next week, Cramer said he expects oil to dip below $90 a barrel. If that happens, he said he'd be a buyer of stocks that benefit from lower gas prices, companies like UPS (UPS Quote), Walt Disney (DIS Quote) and Kimberly-Clark (KMB Quote).

Standing Up to the Bully

Cramer said in the war against relentless hedge fund selling, some companies are starting to fight back.

He talked with Ray Milchovich, chairman and CEO of Foster Wheeler (FWLT Quote), a stock which he owns for his charitable trust Action Alerts PLUS, about his recent decision to buy back one-eighth of his company's common stock.

Milchovich said the $750 million decision was in direct response to its share price being cut in half, despite the fact that company doubled its earnings in 2007 and increased them another 35% so far in 2008.

He said Foster Wheeler holds no debt, has $1.3 billion in cash and is worth far more than its current market valuation.

Responding to the critics who worry of project cancellations, Milchovich explained that Foster Wheeler has not seen a single cancellation or delay of any project.

He said the company's toughest challenge remains finding the capacity to meet demand. He said he's seen no material change in the company's order flow, and still sees strong growth around the globe.

Cramer reiterated his buy on Foster Wheeler.

Paper Play

"The paper and packaging business may be boring," said Cramer, "but it can make you money." He last recommended box maker Temple-Inland (TIN Quote) on April 7 at $13.98 a share. Since then, that stock is up 37%.

Cramer says it's time to swap out of Temple-Inland in favor of its rival Packaging Corp of America (PKG Quote). He said that Packaging Corp is a classic "catch-up" story and poised to surge higher as it "catches up" to its peers.

Cramer cites the simple economics of the packaging business for his thesis. The industry recently put through a $55-per-ton price increase, raising its top line growth.

In the case of Packaging Corp, 50% of the company's costs are for energy, mainly coal and natural gas. With plummeting commodity prices, the company should be able to beat estimates handedly.

Cramer said he also likes Packaging Corp's 4.7% dividend yield, which is not only higher than investing in Treasuries, but essentially pays you to wait until the upside surprise occurs.

With unplanned mill outages and strong exports keeping supplies tight, Cramer said Packaging Corp is a sure bet in an all too boring business.

Mad Mail

Cramer told a viewer than in addition to Whirlpool (WHR Quote), other "early cycle" stocks include durable goods, retailers and homebuilders.

Cramer told a second viewer that he feels negative press coverage makes Schering-Plough (SGP Quote) un-investable.

Lightning Round

Cramer was bullish on Sunpower (SPWR Quote), First Solar (FSLR Quote), Oshkosh Truck (OSK Quote), Deere & Co (DE Quote), Hewlett-Packard (HPQ Quote), Cadbury (CBY Quote), Medco Health (MHS Quote), Campbell Soup (CPB Quote) and Consolidated Edison (ED Quote).

He was bearish on Denbury Resources (DNR Quote), USEC (USU Quote), Marshall & Ilsley (MI Quote), Hershey Foods (HSY Quote), McDonald's (MCD Quote), Dynegy (DYN Quote) and Allegheny Energy (AYE Quote). P/>Want more Cramer? Check out Jim's rules and commandments for investing by clicking here.

Read more of Cramer's Mad Money Lightning Round insights.

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