Jim Cramer's Stop Trading! Buy Verizon

Cramer likes the quarter and the stock.
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It's time to buy

Verizon

(VZ) - Get Report

, Jim Cramer said Monday on

CNBC's

"Stop Trading!" segment.

Cramer said the 3.5% decline in Verizon shares following Monday's earnings report yields an "opportunity to buy right here, right now." Cramer applauded the company's wireless growth and said investors must give CEO Ivan Seidenberg some time to bring to fruition his $22 billion gamble on a fiber-optic expansion called FiOS.

"They have no choice," Cramer said of Verizon's pricey push into the so-called triple play offering of video, Internet and phone service on one bill. But he said given the success of Verizon Wireless -- also a costly buildout in its day -- investors must "give them the benefit of the doubt."

Cramer said he generally likes

Comcast

(CMCSA) - Get Report

better but could see buying Comcast for its growth and Verizon for its dividend, which he said is paying out 4.5% including the planned Idearc directories spinoff.

Cramer said he's "stuck" holding

Yahoo!

(YHOO)

stock in his charitable trust but feels better about that holding after a bullish Merrill Lynch report suggested a possible buyout by

Microsoft

(MSFT) - Get Report

.

What could really drive Yahoo! shares, Cramer reiterated, would be for CEO Terry Semel and finance chief Sue Decker to "take a permanent vacation."

At the time of publication, Cramer was long Yahoo!.

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