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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Wednesday November 18.

Home Depot (NYSE:HD), Owens Corning (NYSE:OC), Cypress Semiconductor (NASDAQ:CY), Watsco (NYSE:WSO), Lennox International (NYSE:LII)

The New York Times coined the phrase "Cash for Caulkers" for potential government legislation to make homes more energy efficient. Cramer would play this bit of news with five stocks. Cypress Semiconductors (CY) creates wireless devices that regulate thermostat and monitor batteries. Owens Corning (OC), the famous creator of insulation, is a more obvious pick, and could get a "huge boost" if the legislation is passed. Home Depot (HD) is the best place to buy insulation and other products to improve the home. The stock was sold off after a strong quarter and Cramer would buy Home Depot at a bargain price.

Heating, air conditioning and ventilation systems will also be refurbished under the plan. In this area, Cramer likes Watsco (WSO) because 85% of its business is residential and it offers a 3.6% dividend. Lennox International (LII) is also a good stock to consider, and 62% of its business is residential.

Cramer thinks an actual Cash for Caulkers program could "generate huge gains" for the above-mentioned stocks.

Baytex Energy Trust (NYSE:BTE), Denbury Resources (NYSE:DNR), Encore (NASDAQ:EAC)

Cramer decided take his cue from news that Encore (EAC) is going to be bought; he now thinks it is worth investing in Canadian Energy Trusts. Cramer stopped recommending these stocks because of a new law that would cause the dividends of these trusts to lose favored tax status, but Cramer thinks M&A activity in the sector is too good an opportunity to pass up.

He focused on Baytex Energy Trust (BTE), which not only is an attractive takeover target, but offers a 5.6% dividend and has significant growth. Baytex uses a "steam-injection system" to extract heavier oil from reserves, and as a result, production at one well increased from 70 to 900 barrels a day. The company beat estimates with 83 cents a share of cash flow and drilled 33 new wells. Cramer Baytex's balance sheet is "reasonably clean."

"I don't want you in crude," said Cramer. "I want you in Baytex."

CEO Interview: Larry Nichols, Devon Energy (NYSE:DVN)

Devon (DVN) announced it will sell its Gulf of Mexico international assets. Cramer says this represents a "huge change," but Larry Nichols said the assets were too expensive to maintain and aren't necessary for the company's growth. Nichols said Devon could make its onshore assets in the U.S. and Canada "hum."

Nichols called the sale "bittersweet" but says it will still keep its balance between oil and natural gas. Raising capital is the main goal right now, he added, because it will help the company grow its other investments. Nichols is optimistic that more legislators will pay attention to the benefits of natural gas and the fact that clean-coal legislation has been pushed off is a good sign.

Cramer says he stands behind Devon Energy.

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Source: Cramer's Mad Money - 5 Cash for Caulkers Picks (11/18/09)