Jim Cramer's Mad Money In-Depth Stock Picks 5/18

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday, May 18. Click on a stock ticker for more analysis:

Qwest(Q), Outsmarting the Analysts - Cramer likes telecom giant Qwest, because it is disliked by analysts, yet its fundamentals are steadily improving. He suggests that, in general, it is a good idea to take a closer look at unpopular stocks that remain solid. In spite of past legal and financial problems, Cramer believes that Qwest is a definite buy.

Beyond Same-Store Sales: Sears Holdings (SHLD) - Cramer is critical of retailers who pay too much attention to same-store sales to please analysts and not enough attention to profits. He touts Sears as a buy, despite its tremendous gains, because Sears is "A $200 stock masquerading as a $155 stock." The company has reported the biggest beat for the last quarter, surpassing expectations of 64 cents a share, and reporting $1.14. The recipe of Sears' success has been ambitious buybacks, which Cramer predicts will become more frequent. Buybacks boost earnings per share and decrease the total number of shares.

CEO Interview: Frank Lanza, L3 Communications (LLL) - L3 Communications is one of Cramer's favorite defense stocks, and he expects it to improve after Thursday's TRI acquisition. Since its price has gone down, LLL is no longer too expensive to buy.

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.