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ZZ Is Tops


, which will trade under the ticker symbol ZZ, is the next way to make a "quick, easy, painless 10% gain," Jim Cramer told "Mad Money" viewers on Thursday.

The initial public offering has been priced at $14 to $16 a share, and Cramer said it's OK to buy it up to $18.

Sealy is the No. 1 maker of mattresses and has a great brand name, so Cramer believes the fundamental story is there. He also believes the stock could safely reach $20.

Because the IPO is "massively oversubscribed," he said the trading will be "stupid and chaotic." So Cramer blessed viewers to pay up to $18 for it, and then to sell when it breaks above $20.

And if viewers hold on above that level or pay above $18, Cramer said he would condemn what they're doing.

Cramer also said it's time to pimp over to Italy and pick up shares of

UniCredito Italiano


The bank already is dominant in other former Soviet Bloc nations, and this is where you'll find some of the fastest growth in Europe, Cramer said.

For example, he said Poland has the fastest-growing real estate market in the world.

UniCredito will benefit from this growth, and it is a better play on these red-hot economies than dabbling in their own nascent banking industries.

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Plus, he said the stock is cheap because it trades at only 10 times earnings.

"Sometimes you need to be a follower, not a leader," Cramer told viewers, and that's why he said to take a look at

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TheStreet Recommends

Federated Department Stores


, which just took out its two-year high.

Bill Stiritz, a member of the Federated board, just bought $20 million in shares in the open market, Cramer said, calling the move "an incredible commitment."

But Cramer doesn't advocate dwelling on insider buying, "since a lot of corrupt people at the top will try to paint the tape with some little purchases." But this isn't just a little purchase.

The homework supports Cramer's thesis. Federated has 12% growth, and it will be easy for it to integrate now that it owns May Department Stores.

It's trading at only 16 times earnings, which he said is very cheap, and he said it's the premier department store in the country.

Bill Mitchell, president and chief executive of

Arrow Electronics


, called in to discuss the new gadget boom in techs and how that has boosted his company's bottom line.

The company just topped forecasts, but its gross margins declined. Mitchell said that is because of the company's expansion into Asia, where there are traditionally lower gross margins.

However, he said, our operating margins are just fine. The company is also making acquisitions in central and eastern Europe where Mitchell said markets are growing quite rapidly.

Even though the analysts see a weak second half for the company, Mitchell disagreed.

To view Cramer's interview with Mitchell, please click here.

Lightning Round


Cramer was bullish on




SVB Financial Group









International Game Technology



Brocade Communications



Fortune Brands



Illinois Tool Works









Denbury Resources



Birch Mountain Resources



Costco Wholesale



Cramer was bearish on




Callaway Golf






Parlux Fragrances






Pain Therapeutics






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

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

clicking here


At the time of publication, Cramer was long Schering-Plough.

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. 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.