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"I'm hearing about digital convergence ... it sounds sexy. It sounds like it could make you money," Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

Convergence, he said, refers to the fact that cell phones are becoming the PCs of the future. Phones are being used more and more to download music and send pictures, tasks that up until recently have been accomplished with personal computers.

We will soon have one device that will do everything, and it won't be made by

Dell

(DELL) - Get Report

, Cramer said.

The latest convergence news is that cable companies are trying to forge relationships with wireless companies so that consumers can communicate with their televisions from miles away.

And with all this convergence talk in the air, Cramer said the play is

Openwave Systems

( OPWV).

He said that the company makes the browser that allows your phone to run all these new applications, and its software is already in almost a billion phones.

The company already has more than 50% of the market share in handsets, he said, adding that it should only make more money as people use phones for more complex tasks.

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Cramer admitted that the stock used to be "dot-com roadkill," but that it is now in the convergence vanguard.

He also said that sales of multimedia handsets should grow by 12% a year through 2009. And since the company is trading at less than one times earnings, the stock is a steal.

Nickel-and-TransDigm

A month ago, Credit Suisse and Lehman Brothers took

TransDigm Group

(TDG) - Get Report

public, but the aircraft parts maker has languished since its IPO, Cramer said. At the same time,

Boeing

(BA) - Get Report

, "the beacon of the group," has gone up five points since TransDigm went public.

The aerospace industry has been on fire, but for no good reason TransDigm has done nothing and should be participating. "It doesn't make any sense," Cramer said, given the fact that half of what a stock does is related to its sector.

When the market makes no sense, it's an opportunity to make money, he said.

The stock is not only cheap, Cramer said, the price disparity will not last. And he said it would be a good idea to get on board before the stock rises.

Avanir's Promising Prospect

Avanir Pharmaceuticals

(AVNR)

just listed on the

Nasdaq

(it used to trade on the Amex), and, Cramer said, it's time to buy the stock because the Food and Drug Administration has given some of its formulations priority status.

The only thing better than a company having pull with the government is a company that has products so good that it doesn't need pull with the government, he said.

One of these treatments is Neurodex, which treats pseudobulbar affect (PBA). This condition, which often afflicts people with Lou Gehrig's disease and multiple sclerosis, causes uncontrollable bouts of laughter or tears. The FDA has given Neurodex fast track status, and Cramer said that it should be able to do $150 million in sales if it is approved.

Better still, he said that the treatment could also get "orphan drug status," giving it a seven-year monopoly in addition to patent protection.

The company is working with

Novartis

(NVS) - Get Report

on deals that could earn Avanir $200 million in milestone payments, and is also involved in deals with

AstraZeneca

(AZN) - Get Report

.

Digital Insights in Online Baking

After a lot of false starts, Cramer said that consumers are finally accepting online banking. The chief executive of

Digital Insight

( DGIN), a company that provides outsourced online banking applications and services to financial institutions, joined Cramer to discuss this phenomenon.

CEO Jeffrey Stiefler told Cramer that we're in the "mass market adoption cycle" of Internet banking, and that the market is large and rapidly growing.

Digital Insight's biggest competition is the bank CEO who doesn't understand that his company must aggressively promote Internet banking, Stiefler said. He added that his company has a lot of cash and no debt.

Cramer said that he believes Digital Insight is a pure play on banking online and that its revenue is growing.

However, he was unsure about the fact that the company has plans for a $50 million stock buyback, but recently sold a lot of shares as well. He said that before he did anything else, he would wait to "see how the stock does after the insider selling and before the buyback."

To view Cramer's interview with Stiefler, please click here

.

Lightning Round

Cramer was bullish on

Altria

(MO) - Get Report

,

Weyerhaeuser

(WY) - Get Report

,

Rite Aid

(RAD) - Get Report

,

Schlumberger

(SLB) - Get Report

,

Broadcom

(BRCM)

,

Goldcorp

(GG)

,

Commerce Bancorp

(CBH) - Get Report

,

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

,

W.W. Grainger

(GWW) - Get Report

,

Medtronic

(MDT) - Get Report

,

URS

(URS)

and

ConocoPhillips

(COP) - Get Report

.

Cramer was bearish on

Cablevision Systems

(CVC)

,

Time Warner

(TWX)

,

Comcast

(CMCSA) - Get Report

,

Petrobras Energia Participaciones

(PZE)

,

Wind River Systems

( WIND),

Northgate Minerals

( NXG)

Transmeridian Exploration

( TMY),

Sovereign Bancorp

( SOV),

Radiant Systems

( RADS)and

ElkCorp

( ELK).

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 Altria and Commerce Bancorp.

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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