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LOS ANGELES -- The market tanked today because the

Federal Reserve

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

Northrop Grumman

(NOC) - Get Free Report

, Cramer said. While Cramer also likes


(RTN) - Get Free Report


General Dynamics

(GD) - Get Free Report

, 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.

Mouse House

Cramer believes that many people wrongly think of


(DIS) - Get Free Report

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

CIT Group

(CIT) - Get Free Report

. 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."

Image placeholder title

The final student pitched

Human Genome Sciences


. Cramer was not sold on the stock because of its previous losses. Instead, he prefers

Nastech Pharmaceutical


, which is less speculative.

Lightning Round

Cramer was bullish on


(T) - Get Free Report


XTO Energy




(F) - Get Free Report



(PEP) - Get Free Report


Peet's Coffee & Tea




(MCD) - Get Free Report



(CAT) - Get Free Report


Hansen Natural



Jones Soda



Under Armour

(UA) - Get Free Report



(NKE) - Get Free Report


International Game Technology

(IGT) - Get Free Report


Wynn Resorts

(WYNN) - Get Free Report


Las Vegas Sands

(LVS) - Get Free Report


Cramer was bearish on


(SBUX) - Get Free Report


Aqua America

(WTR) - Get Free Report



(JMBA) - Get Free Report


Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by

clicking here


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


At the time of publication, Cramer was long Caterpillar and McDonald's.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.