J.C. Penney (JCP): Cramer thinks that this company, which has taken a beating, will report excellent same-store sales on Thursday, and will see their stock rise as a result; "That could be the only one where you could get a significant numbers bump to the upside," he said.
Nucor (NUE) and Mittal (MT): Cramer cited an interview with Nucor CEO, Dan DiMicco, in which he said that, following Mittal's acquisition of Arcelor, every steel company is "fair game" for a takeover. Cramer notices that big steel companies are trying to form a "gigantic oligarchy" and that investors should keep an eye on the sector, although he considers Nucor to be a potential purchaser rather than an acquisition.
Valero (VLO): Cramer believes that this refining stock will benefit from industry's tight capacity, " ... On any outage, Valero goes to a 52-week high."
iPass (IPAS): Although Cramer admits "I don't see the allure..." the fact that Stanley Gold's Shamrock Capital is an investor in iPass makes him more interested in the stock.
More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.