Pulte's (PHM - Get Report) deal to buy Centex will close in August, which will be "monumental." He said the "whole group's been on a tear," but with the catalyst of the closing of the Pulte deal, Centex is where he'd put his money.
Cramer said that recent acquisitions -- including Bristol-Myers' (BMY - Get Report), Johnson & Johnson's (JNJ - Get Report) and First Niagara's (FNFG - Get Report) -- "are very good." "I think that people should start recognizing that when your stock goes up after a deal, when people see this, it bring more and more mergers," he said.Cramer said that had Eaton (ETN - Get Report) reported today, "I think it would've barely gone up." He said the stock is now "very overbought" and recommended waiting for a pullback to buy. "Eaton has been one of my favorites for a long time," he said, but "not up here. I don't want to buy it in the $50s." --Rebecca Corvino writes from New York.