Cramer's Take on Headline Stocks: Nov. 3

On Sept. 29's "Stop Trading!", Cramer said Ralph Lauren "has been a monster stock since the bottom ... and I believe it will continue to be a monster stock." He called CEO Ralph Lauren "the real deal" and said he never understood why the stock was down in the $60s. Johnson & Johnson(JNJ): J&J will cut up to 7% of its workforce worldwide, the company has announced. It also confirmed earnings guidance for full-year 2009 of $4.54 to $4.59 a share, compared with analyst expectations for $4.58 a share.

On "Mad Money" on Oct. 15, Cramer said he'd been excited by J&J's earnings beat at first but had decided to put the stock in his Sell Block because the earnings were due to lowered R&D spending and a favorable tax rate. "That's not how we want to see companies make their numbers," he said.

Chesapeake Energy(CHK): Chesapeake reported third-quarter earnings of $186 million, or 30 cents a share, down from $3.3 billion, or $5.62 a share, a year ago. Adjusted earnings of 70 cents a share did beat analyst expectations for 65 cents a share.

On Oct. 30's "Mad Money" show, Cramer spoke with Chesapeake CEO and Chairman Aubrey McClendon, who said people aren't aware of how much natural gas is available, due to recent discoveries and spoke of the importance of nat gas as a bridge fuel to the future. Cramer told his viewers that if they think natural gas is headed higher, then Chesapeake's a buy.

Register for Stockpickr today! (Editor's note: At the time of publication, Cramer owned Bank of America, Goldman Sachs and Wells Fargo for his Action Alerts PLUS charitable trust.)

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