Cramer's 'Mad Money' Follow-Up: Celgene

On Thursday's "Mad Money" TV show, Jim Cramer said that while Celgene's (CELG Quote) stock is not doing very well, the company is doing just fine.

The stock is trading near its 52-week low. Earlier this week, it reported disappointing earnings and lowered its outlook. But Cramer, who owns Celgene for his Action Alerts PLUS charitable trust, says the company's fundamentals are still strong, it has excellent management and $3.1 billion in cash, and its earnings should grow 20% for 2009.

The stock closed up $1.38, or 3.4%, at $42.15 on Friday.

In the Sell Block on Thursday was U.S. Oil(USO Quote). Cramer said that oil ETFs were some of the worst investments viewers could make. U.S. Oil, for example, had fallen at almost twice the rate of crude oil since the fund's inception -- 54% vs. crude oil's 23%. He told viewers to stay away.

On Friday, the fund was down 5 cents at $30.93.

In his "Lightning Round" segment, Cramer said that he would not sell Yahoo!(YHOO Quote) until its new CEO had been on board for at least nine months, when he predicts that "that stock turns around."

On Friday, Yahoo! closed up 39 cents, or 3%, to $13.34.

He recommend Nordic American Tanker(NAT Quote) over DryShips(DRYS Quote), saying that while Dry Ships is in default, NAT is "a great company with a great yield.

On Friday, Nordic American Tanker closed up 43 cents, or 1.4%, at $30.88, while DryShips was down 9 cents, or 1.7%, at $5.25.

Finally, he said he didn't like Hartford Financial(HIG Quote). He said the company's policies will pay off, but he doesn't like the stock.

Hartford closed up 81 cents, or 10.2%, at $8.74.