Jim Cramer's Real Money Radio Recap 5/25

Recap of Jim Cramer's radio show on Wednesday May 24. Click on a stock ticker for more analysis:

General comment: Tough Justice for Enron

Cramer discussed the convictions of Ken Lay and Jeff Skilling, former CEOs of Enron, for fraud and conspiracy. In spite of their claims, their business was no more than an ordinary utility company. Cramer smelled a rat early on, and, during a "Squawk Box" appearance, he said that Enron's earnings were based on the rigging of the California electricity market. Cramer was banned from the show until he revealed that he was helping the Feds nail the two. "In my 25 years in the business, these are the biggest crooks ever," said Cramer.

Federal Reserve Worries

Cramer was optimistic about Federal Reserve findings that the economy is growing less rapidly than expected and that homes sales are down 2%. "We like weakness," he said, "because it shows that the Fed may have to loosen its insanely tight monetary policy." However, this may not be enough to lure the Federal Reserve away from using a tightening strategy similar to their policy in 2000, when recession loomed. Cramer says that the market wants reassurance that the Fed will loosen up a bit, and if this happens, cyclical stocks should do well.

Bullish calls:

*URS (URS): Yesterday, Cramer bought stock in URS, an infrastructure engineering and construction company, and said, "I need you to buy more," noting that URS trades at only 20 times its future earnings.

*Nordstrom (JWN), Coach (COH) and VF (VFC): All of these companies reported strong earnings numbers, and VF increased dividends.

*Hain Celestial (HAIN): Cramer gave two thumbs up to this company, preferring it to competitor, Whole Foods (WFMI), and commented that "the secular, long-term trend is toward natural food."

*Apple Computer (AAPL): "If you own Apple, I'd buy more," Cramer said. "If you don't, I'd wait until it reaches $59 a share."

*Nabors Industries (NBR): According to Cramer, Nabors is "the number 1 drilling company in the world."

*eBay (EBAY): ebay has recently announced a strategic alliance with Yahoo! (YHOO), and Cramer predicts a comeback for the dot coms. He recommends Ebay with the caveat that investors should "hit the eject button" if the stock reaches $34 or $35.

*Occidental Petroleum (OXY): Cramer calls OXY "the purest play on the price of oil" and praised the company for producing more as prices rise.

*Walt Disney (DIS), News Corp. (NWS) and CBS (CBS): Cramer prefers all of these stocks to Time Warner (TWX).

*Kellogg (K): Cramer picks this stock over Sara Lee (SLE)

Neutral/Bearish calls:

*Polo Ralph Lauren (RL): Cramer would recommend buying RL at a later date. He advises against "shooting first and asking questions later."

*Sara Lee (SLE): Cramer says that food stocks should really be moving, and that he keeps "waiting for CEO Brenda Barnes to do something." He recommends Kellogg (K) instead.

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