Jim Cramer's Lightning Round - Risky Insurance (10/27/08)

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Monday October 27.

Bullish Calls:

Foster Wheeler (FWLT): “Everyone thinks this is the Dubai play…I think this stock is reflecting a third of the contracts being canceled which is why I’m buying it…but the infrastructure group is the worst group in the market.”

Johnson & Johnson (JNJ): “There you go…they had a monster good quarter..I would pull the trigger in JNJ provided that you don’t need the money tomorrow…JNJ is as good a stock you can find in this terrible market.”

Public Service Enterprise (PEG): “That is a great company. It yields almost 5%. Utilities are good here. I say don’t get rid of it…you can trust utilities…they are about as safe as you can get.”

Consolidated Edison (ED): “I like Con Ed and I like Duke.”

Duke Energy (DUK)

Freeport-McMoRan (FCX): “I own this for my charitable … everyone wants to know if the yield is safe…I still like it, but let’s be careful because the thesis right now is on hold. We are on a deflationary spiral and not an inflationary spiral.”

Bearish Calls:

Visa (V): “We cannot buy anything that is consumer-spending related.”

MetLife (MET): “I am not recommending any of the insurers that had to do secondaries of stock. I do not want to be in any company that needed to raise cash in a horrible environment.”

WuXi PharmaTech (WX): “This is a very speculative stock…this is totally out of favor because China is down too much.”

Marvel Enterprises (MVL): “I feel like you should ring the register.”

MEMC Electronics (WFR): “No no no we don’t like WFR. We didn’t like it 40 points ago…sell sell sell… we do not want you there.”

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