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Cramer's 'Mad Money' Follow-Up: Bank of America

On Friday's "Mad Money" show, Jim Cramer receommended Bridgepoint Eductaion (BPI) as a way to play the for-profit education sector and invest in adult education with limited downside risk.

Bridgepoint had its IPO in April and is up $2 since then, but Cramer says it's got great growth potential, with expectations for its student body to double in 2009.

On Monday, Bridgepoint added 34 cents, or 2.7%, to close at $12.89.

Cramer's Speculation Friday pick was Bank of America (BAC) as a play on a turn in the housing market. Cramer said he sees the bottom in housing in California, which bodes well for Bank of America, especially after its acquisition of Countrywide Home Loans.

Cramer said that the company should be able to repay its TARP money after its secondary offering is completed, leaving its balance sheet clean.

On Monday, Bank of America slid 6 cents to $11.21.

In his "Lightning Round" segment, Cramer said he likes PPG Industries (PPG) for its "good, solid yield." He called it a buy under $50.

On Monday, PPG was up $1.57, or 3.5%, to close at $46.04.

GlaxoSmithKline (GSK) was "too boring" for Cramer. He recommended Bristol-Myers Squibb (BMY) instead.

On Monday, Bristol-Myers closed up 19 cents, or 1%, at $20.11, while GlaxoSmithKline added 50 cents, or 1.5%, to $34.21.

Cramer said he wasn't abandoning Verizon (VZ) and told viewers to "get into" the stock and "enjoy that dividend."

On Monday, Verizon lost a penny to close at $29.25.

He also said he'd buy Petrobras (PZE) "hand over fist."

On Monday, Petrobras added 87 cents, or 17.1%, to close at $5.95.

At the time of publication, Cramer had no positions in stocks mentioned.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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