RealMoney Radio: UPS and Downs

Cramer tells callers not to give up on the delivery company and how to play pullbacks.
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Cramer's Callers

Cramer's

"RealMoney" radio switchboard was busy as usual Monday, as Cramer fielded calls that ranged from

Atheros

(ATHR)

to

UPS

(UPS) - Get Report

.

Even though he was bullish on

Moody's

(MCO) - Get Report

at $64, Cramer said that he should have told people to ring the register when the stock ran up to $74.

The company reported a "miserable quarter," Cramer said, and he doesn't believe that the company will recover by the next quarter. If he were a holder of the stock, Cramer said, he would wait for a bit of a bounce before letting the stock go.

As for UPS, Cramer acknowledged that the stock had stagnated between $71 and $74 for long time before heading toward $80.

"A lot of people lost faith in UPS," but he said that he wouldn't give up on the company.

Instead, he would use this minor pullback "to be bigger in the stock," which he believes is every bit as good as

FedEx

(FDX) - Get Report

. UPS has lagged, but Cramer believes that it will catch up.

He said that he has been "quite surprised" by how much Atheros stock has pulled back, and that he likes the networking technology company, which creates secure, high-performance wireless products.

He added that Michael Comeau and Will Gabrielski, co-authors of

TheStreet.com's

Breakout Stocks

newsletter, have been waiting for the stock to come in.

In this situation, you make the move the minute the pullback comes, Cramer said. The stock has fallen from $28 a month ago to $23, which he said is an overreaction. "I would be a buyer."

He added that

Openwave

(OPWV)

has also pulled back enough to make it a buy.

A caller asked about

Powerwave Technologies

(PWAV)

, which reports earnings this week and ran into problems when its

Cingular

order didn't come though in the last quarter.

Cramer said he isn't sure that the company will get its

Cingular

order this time around either, and that, like Moody's, it will take more a single quarter to turn around.

But Powerwave makes amplifiers for towers, a business that is hot right now, he said, adding that in this space

Crown Castle International

(CCI) - Get Report

is one of his favorites.

He said that it's time to sell

North Fork Bancorp

(NFB)

because it is in an "arbitrage situation."

The company got its takeover bid from

Capital One Financial

(COF) - Get Report

and is just shy of its 52-week high, he said.

Do not wait around to see how much higher this thing can go, he said. "We got the big win ... we sell it and move on to the next big win."

He told a caller that he believes that

Google

(GOOG) - Get Report

can hit $600, and added that it may be a good idea to own even just one share.

He said that

Panera

(PNRA)

is a good stock to own because once the company gets breakfast together the stock will soar.

And he said that

Johnson Controls

(JCI) - Get Report

is not done going up.

The company "delivered a remarkable quarter," driven by its great controls business, he said. Cramer suggested waiting for a pullback under $80 before putting any more money into the stock.

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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