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NEW YORK ( TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk On The Street" Tuesday: Illinois Tool ( ITW) is a great cyclical company and Cramer said he'd be a buyer on its recent downgrade. He also noted that Intel ( INTC) has become a hated stock on Wall Street, but the company still has a great balance sheet and a good yield. Cramer was less optimistic on Diamond Offshore ( DO), calling its recent upgrade "questionable." In addition, news of a possible delay for Research In Motion's ( RIMM) next-generation phones really isn't news, as the story broke on CNBC last week. When asked about Marathon Petroleum ( MPC), Cramer said this company is acquiring BP's ( BP) assets for a steal and making a ton of money. Finally, Cramer said Ford Motor ( F) needs Europe to turn itself around, so he's got a "wait and see" attitude on the automaker. --Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC