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NEW YORK (
) -- "The binary nature of this market was on full display today," Jim Cramer told his
TV show viewers Thursday, as just the possibility of leadership in Europe magically turned the focus back onto U.S. companies that are performing well.
Cramer said that Europe is still clearly in control, but it's worth at least acknowledging some of the companies that headed higher today.
Cramer said that
has regained some of its former luster, as has the oil and gas patch, which now includes three of the top 10 best performing stocks in the
He said that
remains the cheapest of the bunch, but
National Oilwell Varco
are also favorites.
In retail, Cramer tipped hit hat to
, a stock he's thrilled to see doing well once again. Cramer also was bullish on truck maker
, a stock which he owns for his charitable trust,
Action Alerts PLUS, along with
for its sizable stock buyback program.
Cramer also noted that
was able to boost its dividend by 11%, the first such boost in ages. Cramer said he likes
more and is warming up to
Finally, Cramer offered words of caution on the high-flying stocks in the market after
Green Mountain Coffee Roasters
imploded today. He said that all of the high-growth names, like
, another Action Alerts PLUS name, all took a hit today.
Oil-and-Gas MLP Play
In the "Executive Decision" segment, Cramer sat down with Donald Sinclair, president and CEO of
Western Gas Partners
, and oil and gas pipeline master limited partnership with a 4.7% yield.
Cramer said while Western has a lower dividend than some of the other MLPs he recommends, this company also has a high percentage of fee-based business with fixed prices.
Sinclair explained that Western is a traditional MLP and has a structure that has stood the test of time. He said the company's sponsor,
provides most of the assets that Western acquires, allowing both companies to unlock value in those assets.
When asked how non-Anadarko unit-holders have a say in the company's decisions, Sinclair explained that Western has a committee of non-Anadarko directors who oversee the company's decisions and acquisitions. He said everyone assesses the risk and the quality of every asset it acquires.
The relationship between Anadarko and Western has been a positive one for Western, with many of Anadarko's assets and growth coming from many of this country's hot oil shale areas, Western is also in a prime spot to see more rapid growth. Sinclair said that Western has $1 billion in liquidity at the moment, so it will not be visiting the equity markets for additional funding anytime soon.
Cramer said that while Western is more conservative than
Kinder Morgan Energy Partners
Energy Transfer Partners
, the company is still a great investment.
In a special "reverse" Sell Block segment, Cramer gave
( KFT) CEO Irene Rosenfeld a reprieve and removed her from his "Wall of Shame" list of the worst CEOs. Cramer said Rosenfeld's decision to split the company into two is the smartest thing to come out of Kraft in over a decade.
Cramer said the decision to split Kraft into a high-growth snack company and a high-yielding grocery company makes perfect sense and will unlock a lot of value, as each of these two businesses has different needs.
The snack business will include brands like Oreo cookies, Ritz crackers and a host of candies from Kraft's acquisition of Cadbury. Meanwhile, the grocery business will include Mac & Cheese, Velveeta and Oscar Mayer hot dogs.
While the grocery business will be primarily a U.S. play with high margins and likely a 5% dividend, the snack business will be mainly an international story with near 40% of sales coming from emerging markets. Cramer called the breakup an amicable divorce where everyone is better off.
Cramer said the split alone could be worth $7 a share to current shareholders, but the real value comes in the company's execution. Kraft just delivered a three-cent-a-share earnings beat on an 11% rise in revenues, proving that the company can once again execute and grow.
Cramer followed up on
which recently delivered a strong quarter. Cramer advised staying on the sidelines under after the Nov. 21 deadline on insider selling has passed.
Cramer said that the Indian
is too pricey at 62 times earnings, while the 16% rise in
Digital Realty Trust
makes that stock too expensivel.
When asked about
, Cramer advised buying
Kinder Morgan Energy Partners
, its subsidiary, for the better yield.
When asked about the
takeover of T-Mobile, Cramer said that he's a buyer of AT&T, an Action Alerts PLUS holding, but would not be a buyer of
, which is being held hostage by its bondholders.
Cramer was bearish when asked about
( APKT) , but was bullish on
Finally, when asked to choose between
, Cramer chose
, another Action Alerts PLUS holding.
Cramer was bullish on
Whole Foods Markets
He was bearish on
Research In Motion
World Wrestling Entertainment
GT Advanced Technologies
In his "No Huddle Offense" segment, Cramer said he left last night's Republican debate longing for something big, something bold. He said that none of the candidates had any plans for large scale infrastructure projects, the kind the country desperately needs.
He said while the Republicans favor a hands-off approach to government, sometimes the country needs government intervention. "The private sector has included a lot of bad actors as of late," he noted.
Cramer said those with money invested in the markets also deserve regulations that level the playing field for the little guys. They deserve honesty and support from their government so that they will always be protected, he said.
--Written by Scott Rutt in Washington, D.C.
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At the time of publication, Cramer was long Cummins, Apple, AT&T and Ensco.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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