Editor's Note: The following are questions received from viewers of "Mad Money," seen every day at 6 p.m. EDT on CNBC.

May Department Stores (MAY) is trading around its 52-week high. Should I sell now, or wait for the Federated Department Stores (FD) buyout offer to close?-- Terry from Cincinnati, Ohio

James J. Cramer:

Federated's offer consists of about 40% cash and 60% stock, so I do not believe there is much upside potential in May shares. With that in mind, I'd ring the register, selling shares here.

I did some homework after you recommended Amylin Pharma (AMLN) , and purchased the stock. After rising, the shares sold off on an analyst downgrade. Is this still a good biotech stock?-- Karl from Michigan

James J. Cramer:

I remain bullish on Amylin's prospects, and view this pullback as a buying opportunity. The downgrade you mentioned was based primarily on valuation, and I believe the company's diabetes product will continue to see rising sales.

Is it too late to buy Electronics Boutique (ELBO) , or is GameStop (GME) - Get Report the better play?-- Dave from California

James J. Cramer:

First, let me say that I own GameStop for my charitable trust,

ActionAlertsPLUS. I believe it is the better way to play the merger of these two video-game retail giants, which will have a larger combined market share than

Wal-Mart

(WMT) - Get Report

. Despite recent earnings disappointments from the video-game makers themselves, the launch of two new platform upgrades in the coming quarters should drive a new sales boom across the entire industry.

What do you think about Walgreen (WAG) ?-- Lance from Texas

James J. Cramer:

This is my favorite way to play the drug retail business, and one of the best retailers in any area. Walgreen has the best margins in the industry, and should be considered a core long-term holding.

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