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

On his 1,000th "Mad Money" episode on Wednesday, Jim Cramer said that investing "isn't always about common sense." His case in point was Emerson Electric(EMR Quote), which cut earnings forecasts and whose CEO doesn't expect things to improve much until 2011 at the earliest. The stock, however, traded almost flat on Wednesday.

Cramer called it a bottom and said that with all the bad news on the table and company's 6% yield, Emerson's a buy.

On Thursday, Emerson closed up 5.9%, or $1.79, at $32.

Cramer spoke with NYSE Euronext(NYX Quote) Duncan Niederauer, who said the company's dividend is safe. Cramer said he liked both Niederauer and NYSE Euronext.

NYSE Euronext closed up $1.68, or 8.5%, at $21.51 on Thursday.

In his "Lightning Round" segment, Cramer said that Quanta Services(PWR Quote) is a "good, solid stock" and said it should go to $23. He recommended sticking with it.

Quanta added 44 cents, or 2%, to close at $21.99.

He said that for solar stocks such as First Solar(FSLR Quote) to make money, oil needs to be at $80 to $90. He called First Solar "stagnant."

First Solar closed up $6.36, or 4.7%, at $142.05.

Cramer said he missed the boat on J.Crew Group(JCG Quote) and that it's now "up huge," but nevertheless, he said the stock's OK at $12.

J.Crew added 11.2%, or $1.64, at $16.25.

Shire Pharmaceuticals(SHPGY Quote) has a "great basket of drugs," and Cramer thinks it should work as a play on coming out of the recession.

On Thursday, Shire lost a penny to close at $36.30.