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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Wednesday December 12.

Ben Bernanke Is The Only Grownup: Wal-Mart (NYSE:WMT), Chesapeake Energy (NYSE:CHK), Williams (NYSE:WMB), EOG Resources (NYSE:EOG), Eli Lilly (NYSE:LLY), Coinstar (CSTR), Verizon (NYSE:VZ), Netflix (NASDAQ:NFLX)

Fed Chairman Ben Bernanke's statements might have been considered "reckless" by some, but Cramer thinks "He is the only grownup. He is the one in Washington trying to get people back to work." The Fed Chairman's plan is to buy bonds to force interest rates to stay low until the unemployment rate sinks to 6.5%. It is predicated that the fiscal cliff may cost the U.S. 2 million jobs, and the CEO of Wal-Mart (WMT) stated that he already sees consumer confidence weakening ahead of the cliff. Bernanke's plan might not be an antidote to fiscal cliff woes, but it might offset some of them. Meanwhile, housing and financial stocks jumped following Bernanke's announcement, even though the Dow closed down 3 points. These stocks might be the best place to go while awaiting legislation to avert the fiscal cliff and its forced and "instant austerity," if, indeed, it can be averted.

Cramer took some calls:

Chesapeake Energy (CHK) has been slimming down by selling off assets, but Cramer doesn't think the price was right on the sale. Williams (WMB) is a better company, and is acquiring valuable assets, but Cramer doesn't like pure natural gas plays. He prefers EOG Resources (EOG).

Eli Lilly (LLY) announced a delay in a clinical trial of its Alzheimer's drug. Cramer said the news was disappointing, but he is still a believer in LLY, and would buy it if it falls to $48.

Coinstar (CSTR) is aggressively competing with Netflix (NFLX) in a partnership with Verizon (VZ). The stock to buy on this news is Verizon.

CEO Interview: Mark Papa, EOG Resources (EOG)

Many natural gas companies are making the transition to oil, but few have been as successful as EOG Resources (EOG). Half of EOG's resources are from oil, up from 33% a year ago. EOG is the top oil producer in the Eagle Ford shale and is one of the chief producers in the Bakken. The stock has seen a 14% rise since CEO Mark Papa appeared on Mad Money last May, but the stock is still cheap on a growth basis; its multiple is 19, and the growth rate is 22%. EOG expects to increase its oil production by 40% next year. Mark Papa says he has not seen such an upsurge in drilling in 15 years, and it is possible that by 2020, North America can become entirely fuel independent. Papa says he is bearish on natural gas prices, and expects the rate to linger between $4 and $5 for the next 5 to 8 years. However, the low price of natural gas is good for the economy, because with Asia facing natural gas prices of $15, and Europe paying $9, other countries will want to import the U.S. natural gas.

Cramer is bullish on EOG.

Sandy Cutler: Eaton (NYSE:ETN), Cooper Industries (CBE)

Eaton (ETN) is a best-of-breed diversified industrial and a significant holding in Cramer's charitable trust. The company closed a major acquisition of Cooper Industries (CBE) on November 30. This acquisition will expand ETN's electrical segment, which will increase its exposure to utilities. The stock rallied 10.5% since ETN's October earnings report, and Cramer thinks the stock may have more room to run. CEO Sandy Cutler described the Cooper acquisition as "transformational," and believes the acquisition will go smoothly, because Cooper and Eaton have complementary products. Even though there is economic uncertainty, in an environment of slowing GDP growth, Eaton's earnings were up 30% in the U.S. and 20% internationally. Cooper increases Eaton's exposure to non-residential construction, which is a growing area. Cutler said the 4th quarter might not be as strong, due to integration costs, but he urged investors to keep an eye on the strength of demand in Eaton markets to get an idea of how strong Eaton will be in 2013. Cramer is bullish on Eaton.

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Source: Cramer's Mad Money - Bernanke Is The Only Grown-Up (12/12/12)