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Recap of Jim Cramer's radio show on Monday August 8. Click on a stock ticker for more analysis:

Oil and Infrastructure: Baker Hughes (NYSE:BHI), Chevron (NYSE:CVX), and McDermott (NYSE:MDR) - Although many people try to rationalize the rise in oil prices, from hedge fund speculation to global conflict, Cramer says that oil is not going back down soon, and that no one seems to be using alternative fuels yet. Cramer likes BHI and CVX. In spite of what people believe, infrastructure is not dependent on the Fed, says Cramer, who describes MDR as a company "on fire" because it reported a "monster" quarter with a great backlog, and is up 40 cents. He also like ABB (NYSE:ABB).

Limited Media: Viacom (VIAC), Google (NASDAQ:GOOG), News Corp. (NASDAQ:NWS), and Time Warner (NYSE:TWX) - Many companies get excited about video-on-demand; Viacom wants to offer MTV content online through Google, but Cramer says that these plans have little potential for earnings. The only media company Cramer really likes is NWS, which owns Cramer notes that TWX is cutting back on its web involvement and that AOL's content is substandard.

Bullish calls:

Procter & Gamble (NYSE:PG):Cramer says this stock is inexpensive and reported a great quarter.
Corning (NYSE:GLW): This company has an upside potential of at least 5 points, according to Cramer, and suggested pulling the trigger.
Phelps Dodge (PD): Cramer says that this stock is inexpensive and could jump from $86.42 to $120.
Yahoo! (NASDAQ:YHOO): Cramer suggests holding on to this stock.
Jacobs Engineering Group's (NYSE:JEC): JEC's quarter was great, comments Cramer, who likes infrastructure, and suggests letting the stock fall a bit before buying.
Manulife Financial (NYSE:MFC): Cramer would back up the truck on MFC, saying that MFC remained strong when Prudential (NYSE:PRU) and MetLife (NYSE:MET) were unstable.

Neutral/Bearish calls:

Colgate-Palmolive (NYSE:CL): Cramer says that this company needs to get raw costs under control.

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

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