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NEW YORK (
) -- "Forget
, buy stocks that can make you some money," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday. He said that while the negative headlines are all backward-looking, investors need to look to the next great speculative stock.
What makes a great speculative stock? Cramer suggested stocks like
, which is up 59% since he recommended it on June 12. Cramer said he's still also a fan of
and reiterated his $12 price target in 2012.
Cramer also gave the nod to
and its CEO Alan Mulally. He said that if
are turning positive, and
is imploding, then Ford must be on fire, which will lead to upgraded ratings on the company's debt, further helping its recovery.
Cramer said other great speculative stocks include
, Cramer's speculative stock of the year for 2009, which rose from $6.61 a share to $13.12. Cramer noted that
said student loans are hot, but no one seemed to notice.
But of all the great speculative names, Cramer gave top honors to
. Cramer said Sprint is the classic story of a stock getting less bad. He said the company will likely report that its market share is stabilizing and its losses are stemming, but what's really important is that the company is increasing cash flow, which is in turn helping its balance sheet. Cramer said that with such bearish sentiment on Wall Street, it will take only a few analyst upgrades to start Sprint moving, just as Ford and Sallie Mae and Huntington did in years past.
In the "Executive Decision" segment, Cramer spoke with Malcom Unsworth, president and CEO of
, a leader in the move toward smart energy grids and smart meter technology.
Unsworth said that while the U.S. is ahead of the rest of the world in deploying smart meter technology, it lacks one key component, and that's a cohesive energy policy. He said that in Europe, for example, there are now mandates for smart metering by 2020, something the U.S. sorely lacks.
Unsworth also explained that unlike the first generation of smart technologies, which provided utilities a return in five years, today's newer technology allows for efficiency improvements and demand responsive, which pays for itself even quicker.
When asked about government stimulus money, Unsworth said that the stimulus money for not only electricity meters but also smart water and gas meters is beginning to flow and is helping to speed adoption of the new technology.
Cramer said that Itron has multiple years of great earnings ahead of it. He said that despite the stock trading at its 52-week high, it's still heading higher.
In a second "green" interview, Cramer sat down with Jim Bernhard, chairman, president and CEO of
, one of the leaders in building nuclear power plants both here in the U.S. and abroad.
Bernhard said that when it comes to nuclear power, the U.S. is only a small player, and Shaw Group has a business that travels and is competitive worldwide. He said the company is doing 40% of its business in China and is striking deals for new plants in Saudi Arabia, the U.K. and Brazil, among others.
Bernhard also noted that Shaw does more than just build new plants, it also upgrades older facilities to newer technology. He likened the business to upgrading an engine to get more horsepower; only Shaw upgrades power plants to get more megawatts.
When asked about the aging coal plants in the U.S., Bernhard said that no matter what utilities decide to do with them, whether rebuild, covert to natural gas or clean up their act, Shaw Group is there and is an integral part of the retrofit.
Bernhard also noted the Shaw Group is hiring and will add 2,500 new jobs this year. He said the company has more than 1,000 jobs on its Web site, and that's a lot more than wind or solar energy are creating.
Cramer continued his support for Shaw Group.
Am I Diversifed?
Cramer played "Am I Diversified" with callers to see if their portfolios have what it takes. The first caller's portfolio included
Camden Property Trust
Cramer called this portfolio "perfection."
The second caller's top holdings included
Cramer said this portfolio was also total diversification.
The third caller had
Bank of America
as their top five stocks.
Cramer said this portfolio was also well played.
In the Lightning Round, Cramer was bullish on
Human Genome Sciences
Cramer was bearish on
Pioneer Natural Resources
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer's charitable trust was long Bank of America, BP, EMC and Goldman Sachs.
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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