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LOS ANGELES -- The market tanked today because the
didn't listen to Cramer," Jim Cramer said on his "Mad Money" TV show Friday at the University of Southern California.
Cramer continued his call for a Fed rate cut, replete with replays of his famous
rant on "Stop Trading" last month, imploring Fed Chariman Ben Bernanke to cut rates amid the credit market meltdown.
Although Friday's jobs report of declining U.S. employment moved the economy closer to recession, Cramer does not believe that the stock market is dangerous.
Instead, he told his "Back to School" tour audience at the Marshall School of Business that it's time to buy some stocks that are being thrown away.
He Believes Northrop Can Fly
An ideal growth stock for this market is
, Cramer said. While Cramer also likes
, he believes that California-based Northrop Grumman is the most attractively priced.
Cramer said that Northtrop has percentage growth in the teens, and that a recent buyback put a floor under the stock at $77.
Cramer believes that many people wrongly think of
as a "new media company." However, Disney is arguably the "only global brand" in the movie business.
Cramer welcomed Disney President and CEO Bob Iger onto the program. Cramer said Disney "should be so much higher than it is now for so many reasons."
Beyond its 28% growth in operating income in 2006, Cramer likes that Disney repurchased $5.2 billion of its stock in the first nine months of 2007.
Iger attributes Disney's success to a combination of strong management and high quality. But Iger emphasized that Disney realizes its audience is more likely to spend more time in front of a computer than a television.
Iger spoke about Disney's acquisition of Club Penguin, a social networking site for children. He said the Internet is a "powerful space we have to occupy."
Pitch and Catch
Cramer took some stock questions from the student body.
The first student offered
. Cramer gave his blessing, saying that "if the Fed cuts rates, you have a $48 stock in a heartbeat."
The second student named
Suntech Power Holdings
. Cramer said that there is risk in dealing with the Chinese market, but gave his OK on the stock as "it makes lots of money."
The final student pitched
Human Genome Sciences
. Cramer was not sold on the stock because of its previous losses. Instead, he prefers
, which is less speculative.
Cramer was bullish on
Peet's Coffee & Tea
International Game Technology
Las Vegas Sands
Cramer was bearish on
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At the time of publication, Cramer was long Caterpillar and McDonald's.
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