Jim Cramer told viewers of his "Mad Money" TV show Friday that he's on fire when it comes to the composite materials. At the beginning of the year, he said that Allegheny Technologies ( ATI) was his
Banking on Brazilian Build"Just like many people did in the late '40s, we're going from Germany, where I recommended SGL, to Latin America," Cramer said. But he said to look at Brazil rather than Argentina, and he likes Banco Itau ( ITU). The bank just bought back Bank of America's ( BAC) Brazilian business, making it the No. 1 bank in the country. He said it's time to think about buying the stock because we are in the midst of "the great Latin American bull market ... the most improbable bull market in the world." When U.S. interest rates go up, we're supposed to get a cold and Latin America is supposed to get pneumonia, he said. And when governments are unstable anywhere on the continent, all the Latin American stocks should go down. But Brazil has boomed despite months of rate hikes in the U.S. He pointed out that Brazil is lowering its rates and is energy self-sufficient, both good reasons for it to grow. He likes Banco Itau because it is involved in wealth management and credit cards. "A few years ago, Brazil had neither wealth nor credit cards," he said. But now the country is on fire, and it has a lot of both.
Fostered Growth"It's time to buy Foster Wheeler ( FWLT)," said Cramer, who owns the stock for his
Avnet Tech CheckIn the great bull market that was today, Cramer said that he is pleased by the fact that the big industrial companies have pulled away from the pack, but surprised at how technology stocks have lagged. To find out whether something is wrong, he spoke with Roy Vallee, chairman and chief executive at Avnet ( AVT). The company has exposure to nearly all parts of the technology sector because it distributes electronic components and computer products. It also provides engineering design, materials management and logistics services and markets and sells semiconductors. Vallee said that the tech sector is not in danger, contending that personal-computer unit growth wasn't that bad in the first quarter, even though Microsoft's ( MSFT) Vista was delayed. Vallee also said that cell-phone growth "is off the charts," which makes sense given the fact that digital consumer spending has been driving the sector since the tech crash in 2000. He finished by saying that over the last five to six quarters, businesses have increased spending, including expenditures on technology. To view Cramer's interview with Vallee,
Lightning RoundCramer was bullish on NightHawk Radiology ( NHWK), CSX ( CSX), Burlington Northern ( BNI), Genesee & Wyoming ( GWR), Lockheed Martin ( LMT), Northrop Grumman ( NOC), General Dynamics ( GD), Suncor ( SU), Marvell ( MRVL), eBay ( EBAY), Occidental Petroleum ( OXY), GlobalSantaFe ( GSF), Paychex ( PAYX), Whole Foods Market ( WFMI), Coldwater Creek ( CWTR), Palm ( PALM)and Procter & Gamble ( PG). Cramer was bearish on Martha Stewart Living Omnimedia ( MSO), American Science and Engineering ( ASEI), PW Eagle ( PWEI), CalAmp ( CAMP), Quality Systems ( QSII), Christopher & Banks ( CBK)and Research In Motion ( RIMM). For more of Cramer's insights during the most recent Lightning Round,
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