Halliburton ( HAL), might have started declining since its split, but this is not the reason it's going down, Jim Cramer told a caller on his
"RealMoney" radio show Tuesday. Cramer believes that untrue rumors are knocking Halliburton down. People are betting against the stock, which he owns for his charitable trust, Action Alerts PLUS , but Cramer said he's on the other side of the table. Even though oil-services stocks are going down, Cramer said at this point he wouldn't back down from HAL, although he said he wished he had sold some last week when he advised his Action Alerts PLUS subscribers to do so. When a caller inquired about Ciena ( CIEN), Cramer said that frozen spending in the telecommunication sector and Prudential's piece today recommending that people sell Verizon ( VZ), means bad news for Ciena, even though it is a well-run company and has had great past couple of quarters. Although Alcoa ( AA) had a monster quarter, Cramer told a caller that the Fed's tightening rates on May 11 was a big blow to all of the major commodity companies. Cramer said he does not believe that Alcoa will start going up until the Fed says it's finished raising rates. And even though Freeport Copper ( FCX) reported a quarter this morning that was quite frankly the single best quarter Cramer has seen since earnings season started, the company's stock opened up big and then promptly reversed. Although both Freeport and Alcoa performed well, the stocks still can't go up, he said, advising the caller to get into defensive stocks instead. Cramer told the next caller that it's time to back the truck up on Glaxosmithkline ( GSK), which he said is doing better than Johnson & Johnson ( JNJ). "I think people don't understand how really well run Glaxo's business is," he said, adding that it is a defensive stock he would buy. 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.