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Jim Cramer told viewers of his "Mad Money" TV show Tuesday that he stands corrected on
Stockpickr.com, Cramer said, is the site that corrected him. At the same time, even though Cramer may have been down on Kraft, he said he's done much better owning
for his charitable trust,
Action Alerts PLUS, than he would have owning Kraft.
Kraft is up, but it's not done. Professional money managers Carl Icahn and Nelson Peltz are big buyers of Kraft, and piggybacking off the pros is the way to go, Cramer said. Peltz, he predicted, is likely still building on his current 3% position in Kraft.
Stockpickr.com has advised people to wait until the "initial hoopla dies down." That time, Cramer said, is now. Kraft's costs are up significantly after its spinoff from Altria, but its cost comparisons should peak this quarter and then get much better after that, he said.
In addition, Kraft just bought Danone's cookie business, which should give it a "big European footprint," Cramer said. Also, while Kraft was "severely mismanaged," now that it's spun off from Altria, that's all changed, he said.
"With better earnings, easier margins, and Peltz and Icahn
on board... I would buy this fine product on weakness," Cramer said.
A Wing and a Prayer
On Monday, a viewer called in asking about
and stumped Cramer. "I couldn't make a definitive call on the stock," he said.
But now that he's done his homework on the company, which just came public last year, Cramer can say without a doubt that he believes Spirit is a "huge" buy.
"What is so special about Spirit?" he asked. The fact that it is the only real pure play on the success of the
787 Dreamliner, a midsized twin-engine jet under production and scheduled to start service in May 2008.
Spirit, which offers structural components to the planes, has a lot of visibility toward double-digit earnings growth, Cramer said. Visibility, he explained, "means how far you can predict earnings."
However, despite Spirit's visibility, it's trading at a discount. According to Cramer, Spirit is "just as good as"
, the company's competition.
Moreover, Spirit has a 19% share of the markets it's in and stands to gain business from Boeing, he said. Boeing and Airbus want there to be "a
of suppliers," and Spirit wants to be that company, Cramer said.
Spirit is up huge since its IPO, "but aerospace remains in bull mode," he said. The company reports in a couple of weeks, and Cramer said that he would buy half his position now before Spirit reports and that if the stock sells off after it reports its quarter, he would buy more.
Across the Pond, Part Deux
"Europe is on fire and we're not," Cramer told viewers, continuing his weeklong series on European stocks. The only way to stop worrying about rates here in the U.S. "is to pimp your way to Europe," he said.
has tapped right into the global infrastructure boom, and it's time to get into this stock, Cramer said.
ABB, which mostly focuses on the power and automation technologies industry, is a great way to get some exposure in the global infrastructure sector, which is "blistering" hot and can't be ignored, he said.
"ABB is needed because people need power," Cramer explained. It's hard to build a power plant, and ABB has the know-how. The company, he went on to say, just reported a "beautiful" quarter with better-than-expected revenue.
In addition, ABB has "tons" of cash -- so much that it's struggling to find out what to do with it, Cramer said. In fact, ABB has said that if it can't find a good acquisition in the next 12 months, it will return the money to its shareholders.
Also, ABB is a big beneficiary of companies looking to go green because of its energy-saving motors and drives, he added.
In this sector, "the Street has consistently underestimated the bull market," Cramer said, adding that people who truly want infrastructure exposure should look no further than ABB.
In his "Mad Mail" segment, Cramer told a viewer that
, which was up 9% last week, has pulled back.
"People are always shocked when stocks pull back," he said. "On the pullback, you buy the stock. I hope it goes to $80 so I can buy some for my charitable trust."
Moving on, Cramer said
Caliper Life Sciences
( CALP) has "good technologies," but the life-sciences group just "doesn't have it" right now.
is part of the "vicious pullback" in the life-science stocks, Cramer told another viewer.
"You can buy it here, but it probably won't move until the fall," he said. For now, Cramer advised people to stick with tech and his five bull markets.
Cramer was bullish on
Cramer was bearish on
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At the time of publication, Cramer was long Altria and Nike.
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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