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Jim Cramer is revved up about

Corning

(GLW) - Get Report

, not for its fiber-optic or LCD businesses but rather for its little-known diesel emission filtration business, he told viewers of his "Mad Money" TV show Tuesday.

Cramer said new, tougher diesel emission standards go into effect in 2007, and products that help reduce diesel emissions should be a billion dollar market by 2008. Corning should garner a "huge chunk" of that market, he said.

Five years ago, Corning was a fiber-optic business with an LCD business on the side, said Cramer. Now it's an LCD business with a fiber-optic business on the side. In five years, Cramer believes Corning will be a clean diesel company with an LCD business on the side.

Investors aren't yet factoring Corning's diesel emissions business into estimates, said Cramer, and therein lies the opportunity. The "stock's too cheap on the out years," he said.

In response to a question about

Cummins

(CMI) - Get Report

, Cramer said he liked Cummins as a play on this year's diesel truck replacement cycle as truckers look to replace their trucks before the new regulations go into effect.

SiRF Garmin Wave

In an

interview Friday on "Mad Money,"

Garmin

(GRMN) - Get Report

CFO Kevin Rauckman told viewers business is great. That makes Cramer want to buy the stock of

SiRF Technology

(SIRF)

, which makes chips for Garmin's GPS systems.

Cramer said buying Garmin's stock off of Rauckman's interview is too obvious. Everybody knows Rauckman said business is good, he said. But, looking for a derivative play like SiRF is a good trade because it "takes longer for the market to work that through."

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In response to a question about

NovAtel

(NGPS)

, Cramer said he believes this holiday season is shaping up to be a "GPS Christmas." Both NovAtel and Garmin should work, he said. But, his favorite play it is SiRF because it makes GPS chips for a number of manufacturers, he said.

Greenberg's Red Light, Green Light

Marketwatch

senior columnist Herb Greenberg joined Cramer to talk about

FoxHollow Technologies

(FOXH)

,

Eli Lilly

(LLY) - Get Report

and

Merge Technologies

(MRGE)

.

Greenberg raised a red flag over the sudden retirement announcement of FoxHollow CEO Robert Thomas. Greenberg said Thomas is just 44 years old and "loved the company." Greenberg believes there is more to the story, saying FoxHollow cut guidance last quarter and that Thomas may have brought in too many sales people.

"That does sound pretty bad. I'm giving that a bear," said Cramer.

Commenting on Eli Lilly, which recently increased 2006 guidance, Greenberg said the increased guidance hinged partly on lower growth in R&D spending, a lower tax rate and a stock buyback. The company is also counting on new antidepressant drug, Cymbalta, which Greenberg called a "stalled product." Sales of Zyprexa are slowing, he said, and Zoloft comes off patent in June 2006. "That Cymbalta's really gotta work," he said.

Finally, Greenberg said Merge Technologies announced "fabulous, better-than-expected" earnings and raised guidance. But, it turns out 39% of its sales came from one customer, said Greenberg. "Any time you have that kind of concentration, you have to be careful."

"That's too much," said Cramer, adding he agreed with Greenberg caution on all three stocks.

Franklin's International Fare

Cramer is bullish on mutual fund company

Franklin Resources

(BEN) - Get Report

because the stocks of fund companies have outperformed the market over the past several years, said Cramer. Franklin, which is best of breed, has the added bonus of having about 40% of its assets in foreign investments, he said. That's a plus for those looking to add international exposure to their portfolios.

Cramer also likes Franklin because it may repatriate $2 billion next year, which would allow it do acquisitions, he said. Acquisitions are good in the mutual fund business because the added costs are "next to nothing."

Finally, Cramer said Franklin has had a big run, so consider waiting for a pullback before buying. And, if the market begins to do poorly, sell the stock, as mutual fund investors would likely begin pulling money out of Franklin's funds, which would be bad for the stock, he said.

Lightning Round

Bullish

Cramer was bullish on

Norfolk Southern

(NSC) - Get Report

,

Southern Copper

(PCU)

,

GameStop

(GME) - Get Report

,

Sirius Satellite Radio

(SIRI) - Get Report

,

United Parcel Service

(UPS) - Get Report

,

Under Armour

(UARM)

,

NitroMed

(NTMD)

,

Ecolab

(ECL) - Get Report

,

Unilever

(UL) - Get Report

,

Procter & Gamble

(PG) - Get Report

,

Flagstar Bancorp

(FBC) - Get Report

,

Intuitive Surgical

(ISRG) - Get Report

,

Motorola

(MOT)

,

Google

(GOOG) - Get Report

,

Genentech

(DNA)

,

Panera Bread

(PNRA)

and

Broadcom

(BRCM)

.

Bearish

Cramer was bearish on

Dynamic Materials

(BOOM) - Get Report

,

PanAmSat Holding

(PA)

,

Seaspan

(SSW) - Get Report

,

Affymetrix

(AFFX)

,

LeapFrog Enterprises

(LF)

,

Methanex

(MEOH) - Get Report

and

KLA-Tencor

(KLAC) - Get Report

.

For more of Cramer's insights during the Lightning Round, click here

.

At the time of publication, Cramer was long GameStop, Motorola and Procter & Gamble.

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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