Cramer's Take on Headline Stocks: Aug. 21

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NEW YORK (TheStreet) -- Regardless of why a stock is in the news, it never hurts to hear what a professional investor has to say about it. The key is to gather as much information as you can in order to make the most informed investment decisions you can. As Jim Cramer often reminds, investors must do their homework.

So what has Cramer had to say lately about today's headline-makers? At Stockpickr, we've combed through his recent RealMoney blog posts, "Mad Money" TV show recaps and "Stop Trading!" segments to find out what he thinks about some of today's newsworthy stocks.

Caterpillar (CAT): Caterpillar and Navistar (NAV) are negotiating a joint venture in China to manufacture heavy trucks and engines, reports Reuters. A deal is being discussed with in which Caterpillar and Navistar would control one half of the new company and Shanghai carmaker Jianghuai Automobile would control the other.

On Aug. 13's "Mad Money" show, Cramer said Caterpillar was beating the odds and remaining profitable due to cost-cutting measures.

In an Aug. 17 blog post, he wrote:

"The Empire area might be doing better, but who cares, the Chinese empire's bad! Does anyone else feel like our market's a colony of China?

"China's in charge, but China's 'in-charge-ness' is all about Bucyrus (BUCY) and CSX (CSX) and Joy Global (JOYG) and Caterpillar and Union Pacific (UNP) and oil and Freeport (FCX) and Potash (POT). It's all about the old hedge fund stocks.

"It is not about the U.S. economy and what it means for factory orders to be up -- although conclusively."

Citigroup (C): According to The Wall Street Journal, Citigroup is once again attempting to sell Bellsystem24, its Japanese call center.

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