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NEW YORK ( TheStreet) -- Jim Cramer, on his Friday Stop Trading! segment on CNBC, declared that food and beverage stocks are back.
"People are coming back to food and beverage cause things are grim and everyone's upset," said Cramer, alluding to
Goldman Sachs(GS - Get Report) and
BP(BP - Get Report).
The food stock that Cramer recommended Friday was
J.M. Smucker(SJM - Get Report), which he said had a "really great quarter." Cramer said that J.M. Smucker is "really, really well run," and highlighted the company's big dividend boost.
Cramer also gave a nod to
Walter Energy(WLT) on Friday.
Goldman Sachs stock has been "going way down," Cramer noted, and proposed that this is because the company has gone "radio-silent," not by choice though: "When you are cooperating with the Justice Department, there's nothing you can do," except to keep your mouth shut. "The SEC wants the largest fine in history."
Stop Trading!, Cramer said he felt
Transocean(RIG - Get Report), rather than BP, should be held responsible for the devastating Gulf of Mexico oil spill, but told his viewers on Friday that "I don't think BP can go after Transocean."
Cramer says that only the authorities can.
-- Reported by Andrea Tse in New York