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"Why does nothing positive ever matter," Jim Cramer asked the viewers of his "Mad Money" TV show Friday.

Cramer once again turned his sights on the business media, which seems to never have anything positive to report.

According to Cramer, the fact that

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report


Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

, two stocks which Cramer owns for his charitable trust,

Action Alerts PLUS, along with ,

Morgan Stanley

(MS) - Get Morgan Stanley Report

, want to pay back $50 billion of TARP money should've been big news today. "This is money we never thought would see the light of day," he said.

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What about the fact that

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TheStreet Recommends

Bank Of America

(BAC) - Get Bank of America Corp Report

, a bank some thought should be nationalized just a few weeks ago, was able to raise $33 billion of capital on its own? Cramer said this too should've been news.

So should the fact that Chrysler is in bankruptcy, and

General Motors

(GM) - Get General Motors Company Report

is likely to follow, but the two automakers haven't taken the entire economy with them. "This is great news," he said.

None of these stories seem to matter, and that's the media's fault, he said. In their efforts to sensationalize the news of the day, good news rarely gets the same treatment as bad news, he said.

In fact, trusting the journalists' perspectives can be deadly. Cramer told viewers to always look at the big picture. "The goals of the press and the goals of investors, are not the same thing," he said.

Sitting Pretty

Cramer talked with Keith Jackson, CEO of

ON Semiconductor


, a speculative technology company Cramer last recommend on May 7. The company manufactures power components for game systems, cell phones, autos and other electronic devices.

Jackson said the his company's components appear in a wide variety of products and in a wide variety of industries. Regarding autos, he said that while sales are slowing, ON Semiconductor has $15 worth of components in the average automobile, and that number is growing at 7% to 8% a year, offsetting any decline.

Jackson also noted the ON Semiconductor's exposure to China, stating that 40% of the company's sales come from that country. With the Chinese stimulus earmarking $40 billion to upgrade the country's cellular network, ON Semiconductor will be one of the big beneficiaries.

Regarding the company's balance sheet, Jackson said that although the debt on the books is only at a 3% interest rate, the company is still committed to using its cashflow to pay down that debt as quickly as possible.

Cramer called ON Semiconductor a great story on the heels of its great quarterly results. He said he'd be a buyer of the company.

Best of the Worst

For "Speculative Friday," Cramer recommended

CKE Restaurants

( CKR), purveyors of the Carl's Jr. and Hardees restaurant chains. He said that while CKE is among the worst of breed, it also has the most upside potential.

CKE is a turnaround play, said Cramer. The company's operating margins of just 5.7% lag well behind its peers, like

Burger King


, with margins of 14.5%, or even

Jack In The Box

(JACK) - Get Jack in the Box Inc. Report

, with 8.5% margins, but CKE's margins are actually up from just 2.3% in 2003.

Cramer said many of the negatives for this stock are about to turn positive. The California economy, where many of CKE's Carl's Jr. restaurants are located, is slowly recovering, said Cramer. And with low gas prices, falling commodity costs, and easy compares, CKE should be able to beat expectations.

He said CKE also has lots of room to grow and has the added benefit of a 3% dividend yield that pays you to wait for better times ahead.

Mad Mail

In this segment, Cramer told a viewer that he can stick with

Companhia Vale

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on the strength of China.

Cramer clarified for a second viewer that his recent recommendation of



was only for getting in on the company's IPO and not for buying the stock in the open market.

He said that he never recommends buying an IPO in the open market. He also said IPOs only work if investors can get the IPO price directly from their brokers.

Lightning Round

Cramer was bullish on

Emerson Electric

(EMR) - Get Emerson Electric Co. Report


Gilead Sciences

(GILD) - Get Gilead Sciences, Inc. Report



(CLF) - Get Cleveland-Cliffs Inc Report


Grainger WW

(GWW) - Get W.W. Grainger, Inc. Report


Diana Shipping

(DSX) - Get Diana Shipping Inc. Report



(FRO) - Get Frontline Ltd. Report


Nordic American Tanker

(NAT) - Get Nordic American Tankers Limited Report


He was bearish on


(SBUX) - Get Starbucks Corporation Report


WESCO International

(WCC) - Get WESCO International, Inc. Report


Commercial Metals

(CMC) - Get Commercial Metals Company Report


Star Bulk Carriers

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Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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At the time of publication, Cramer was long JPMorgan Chase, Goldman Sachs.

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.