Cramer's 'Stop Trading!': Procter & Gamble

Citi Investment Research's upgrade of Procter & Gamble(PG Quote) "is just classic," said Jim Cramer on CNBC's "Stop Trading!" segment on Friday. "It's the kind of thing you do right now when you say, 'Will you give me something to recommend?'" He said that the call "had the least substance and the most impact that I've come across."

Cramer said that basically Procter has finally admitted that it's been doing badly. "They're finally admitting it wasn't a great quarter and that Unilever(UL Quote)(UN Quote) and Colgate(CL Quote) were pantsing them."

With eight IPOs scheduled for next week, the most, noted "Stop Trading!" host Erin Burnett, since December 2007, Cramer turned his attention to Select Medical, which will trade under the ticker symbol SLC on the NYSE. "I want to be in that," said Cramer. "The hospital sector's been red-hot."

A123 will trade on the Nasdaq under the symbol AONE. Cramer said he wanted to tread carefully with this one "because it feels like ethanol to me, and everyone went nuts on those ethanol stocks, and it turned out to be that they just took advantage and timed the market perfectly." He said he expects the same thing to happen with battery stocks such as A123.