Jim Cramer's Mad Money In-Depth Stock Picks 6/28

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday June 28. Click on a stock ticker for more analysis:

Note: The following is a recap of the Jan. 31 show. There is no 'Lightning Round'.

Top Ten Manufacturing Stocks

Cramer believes that, contrary to popular belief, the U.S. is not merely a service economy but rather has enough manufacturing capability to make "an awesome amount of money" and to beat competitors in BRIC nations. He listed the top ten U.S. manufacturing stocks, and suggested buying any of these cyclical plays as soon as their prices fall. He does not suggest owning all of them at once, but says that investors should keep a diversified portfolio. (The companies are not rated best to worst -- they were discussed in no particular order.)

1. Fluor (FLR): Cramer believes that FLR is the best infrastructure play because it has some extra cash and its market's in "bull mode." He prefers FLR to competitors Foster Wheeler (FWLT) and Halliburton (HAL).

2. Cummins (CMI): Cramer crowns this stock as the "king of engines" which sells products to over 160 countries, has a thriving generator business, and produces exhaust filters.

3. Caterpillar (CAT): Cramer believes this company, which is involved in natural resources, mining and forestry equipment, is a great stock, because it has reported $30 billion in annual sales, is a good diesel play and is free of labor conflicts.

4.Dow Chemical (DOW): This company is located in 175 countries, has 43,000 employees, spends $20 billion on natural gas, and, as Cramer notes, still makes a good profit. Dow's involvement in plastics has been beneficial. Cramer does not expect Dow to raise its dividend, because the natural gas prices left the company "uniquely traumatized." However, he suggests picking up the stock when it goes below $30.

5. Deere (DE): Although this company has factories all around the world, most of its production is in the U.S, and Cramer believes that Deere makes great machines.

6.Boeing (BA): If Europe does not subsidize Airbus, Cramer predicts that BA will have 100% of the market. Unlike many stocks, aerospace is not dependent on the global economic ups and downs, but Cramer says that the sector's cycle will be finished in 3 1/2 years. He credits CEO James McNerney Jr. with smoothing out the difficulties he inherited when he joined the company.

7. Nucor (NUE): Cramer touts this company as the largest U.S. steel producer, making $11.3 billion in sales for 2004 and recycling 17 million tons of scrap steel. He notes that the company has no union, and that it could consolidate in the near future.

8. Ingersoll-Rand (IR): IR makes support equipment for mining and construction and sells to BRIC countries. Cramer suggests owning the stock in a strong economy and getting rid of it when the market is weak.

9. United Technologies (UTX): This company has seven different businesses and one research unit. Cramer likes the stock because it is involved in aerospace.

10. Toyota Motor (TM): Cramer includes this Japanese company on this list because it is actually an American manufacturer. He believes that the company will have 100,000 U.S. employees as long as it doesn't start recruiting in China. He notes that TM builds where the markets are, especially in California and Texas, and has been producing great cars for 30 years.

Seeking Alpha publishes a summary of Jim Cramer's stock picks every day