An upcoming FCC ruling on cable companies' relationships with building developers and owners should benefit Corning ( GLW), Cramer said. Additionally, the company has innovated bendable optical fiber, a development that should significantly reduce the cost of installing cable networks in apartments and apartment buildings, Cramer said. Furthermore, Corning has issued a conservative forecast in a recent earnings report. Cramer believes that means the company is playing the underpromise, overdeliver game. Compared with other companies in its sector, the company is tremendously undervalued, Cramer said. Investors looking to make a play on LCD companies and fiber optics should take a look at this company.
Cramer said investor Kirk Kerkorian's recent interest in Tesoro ( TSO) could help lift the stocks of other refiners, such as Valero Energy ( VLO) ( SUN), Sunoco ( SUN) and Marathon Oil ( MRO). Of the three, he prefers Marathon.
Cramer was bullish on Vodafone ( VOD), Annaly Capital Management ( NLY), Perry Ellis International ( PERY), NexCen Brands ( NEXC), Phillips-Van Heusen ( PVH), Synchronoss Technologies ( SNCR), ValueClick ( VCLK), Apple ( AAPL), Google ( GOOG), Research In Motion ( RIMM), Furmanite Corporation ( FRM), Foster Wheeler ( FWLT), Altria ( MO) and Colgate-Palmolive ( CL). Cramer was bearish on J2 Global Communications ( JCOM) , 3SBio ( SSRX), Vimpel-Communications ( VIP), E-House (China) Holdings ( EJ), ConAgra Foods ( CAG), Synaptics ( SYNA) and Procter & Gamble ( PG).
During the Sudden Death round, Cramer was bullish on Research In Motion ( RIMM) and Diana Shipping ( DSX). He was bearish on Palm ( PALM) and Coach ( COH). Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here. For more of Cramer's insights during the Lightning Round, click here .