New Blood at Ford (NYSE:F) - Although many people were concerned about CEO Bill Ford's leaving the company and his replacement, Boeing's Alan Mulally, Cramer believes that move was actually good for Ford, which is up, in spite of having predicted a bad quarter. The fact that Mr. Mulally has "no Detriot experience" is an asset, says Cramer, who believes that the new CEO should remedy the fact that Ford has been "an insular company in an insular town."
Fueling Retail: JC Penney (NYSE:JCP) and Sears (NASDAQ:SHLD) - The fact that prices have been better at the pump is good news for retail. Although SHLD is one of Cramer's favorite retail stocks which he believes will continue to go higher, he also suggests JCP, which is at a lower price, is aggressively buying back stock, and has great management.
There's No Place like Housing: Merrill Lynch (MER) - In spite of what the media reports, Cramer does not believe that the housing market is in a "death spiral," and points to MER's purchase of a mortgage company for a billion dollars as proof that the sector is viable and will return. "We're a growth country, and after the inventory of unsold homes [goes away] housing will move and Merrill Lynch will make a fortune," he said. "This is one of the reasons I like Merrill Lynch's stock so much."
Intel (NASDAQ:INTC): Altlhough Cramer has disliked this company in the past, Intel is making needed cutbacks and is "trying to get back to its fighting weight," he said.
Hershey (NYSE:HSY): Many people have been down on Hershey, comments Cramer who says that "the level of pessimism has created an opportunity," and he suggests buying the stock.
Papa John's (NASDAQ:PZZA): Cramer chooses this Papa John's over Dominos (NYSE:DPZ), since PZZA is a best-of-breed stock.
CSX (NYSE:CSX): Cramer believes that rails will start working again once the Fed cuts interest rates.
Gilead (NASDAQ:GILD): Although biotech is down, GILD is a buy as a best-of-breed stock.
Apple (NASDAQ:AAPL): "Of the stocks that I regret I don't own for my charitable trust, Apple is No. 1," Cramer said.
First Marblehead (NYSE:FMD): Cramer suggest holding on to this private education lender and not to sell until it reaches $60.
More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.
Get Cramer's Picks by email -- it's free and takes only a few seconds to sign up.