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Genzyme ( GENZ) is a beautiful mosaic of a biotech stock and is right for this market, said Jim Cramer Tuesday on his "Mad Money" TV show. Unlike Genentech ( DNA), which focuses on cancer drugs, Genzyme is diversified with drugs to treat all kinds of diseases, said Cramer. Genzyme's approach is to go after niche markets with little competition where the company can dominate, said Cramer. That approach appears to be working, given the strong third-quarter results Genzyme reported Tuesday. Cramer still likes Genentech and Amgen ( AMGN), but Genzyme should be added to the mix, he said. In response to questions about more speculative biotech plays, Cramer said to stay away -- especially in a market like this -- unless one is just speculating with mad money.
The Accenture Nobody Knows
Following up on a question asked earlier in the show, Cramer said one absolutely should not buy ThermoGenesis ( KOOL). The company hasn't made any money in six years and its revenues "aren't happening," he said. Cramer is bullish on Accenture ( ACN) after IBM ( IBM) reported surprisingly good results in its outsourcing and consulting business, he said. "If IBM's consulting business can do that well ... then Accenture can doubtless do a whole lot better in this market," said Cramer. Accenture has done a number of things to try to catch the market's attention, he said, including a Dutch tender offer, buying back stock, offering a dividend and beating earnings estimates. "But nobody cares," said Cramer.