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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday October 22.

Google (GOOG) Is Unbelievably Cheap: Other stocks mentioned: Yahoo (YHOO), Cypress Semiconductor (CY)

Google (GOOG) has had an incredible move to over $1,000 following its magnificent quarter--a 13.8% move in just one day. Google was a dog last year and had been left for dead after a poor quarter that led to an 8% decline in a single session. Even when Google stumbled badly, Cramer still suggested sticking with it, and for that "I was roundly hounded on Twitter, even more than usual." Those who bought into the decline last year have seen a 44% return in the stock, and Cramer doesn't think Google is done going higher. In fact, he says it is unbelievably cheap.

The problem with Google last year was its lack of a mobile strategy, margin disruption, deterioration in revenue growth, the widespread belief that it had paid too much for Motorola Mobility and an investigation by regulators. Now Google has addressed all of these issues with 40% of its You Tube advertisements accessed on mobile, revenues up 21% yoy, and Android as a dominant operating system. The investigation by regulators turned out to have few consequences and Motorola Mobility has been a good acquisition. Google still trades for a multiple of 19, comparable to a company like General Mills, while it has a higher growth rate than GIS. Cramer would buy Google, even up here.

Cramer took some calls:

Cypress Semiconductor (CY) has been a huge disappointment and Cramer regrets having recommended it.

Yahoo (YHOO) will plateau until there is more news about Alibaba. Cramer suggested listening to David Faber on Squawk On The Street, since he is knowledgeable about Alibaba.

When Washington Is Away, The Bulls Play: Kimberly Clark (KMB), Kellogg (K), Clorox (CLX), General Mills (GIS), Pepsico (PEP), Johnson & Johnson (JNJ), Stanley Black & Decker (SWK), Whirlpool (WHR), Disney (DIS), Chipotle Mexican Grill (CMG), Delta (DAL), Honeywell (HON), Wal-Mart (WMT), TJX (TJX), Ford (F), General Motors (GM), McDonald's (MCD), Freeport McMoRan (FCX), Alcoa (AA), Peabody (BTU)

Bad news is good news, with the weak employment number placing the issue of interest rate declines back on the table. Lower interest rates are good for stocks, which are recovering now that the wrangling in Washington is over, or at least, has been postponed. Bond equivalent stocks like Kimberly Clark (KMB), Kellogg (K), Clorox (CLX), General Mills (GIS), Pepsico (PEP) and Johnson & Johnson (JNJ) rose on the news of lower interest rates. K, CLX and GIS were all downgraded a week ago, and now these downgrades look "pretty darn stupid," according to Cramer. Although Stanley Black & Decker's (SWK) poor quarter brought down home-related stocks, homebuilders rose on Tuesday's news about interest rates, and Whirlpool (WHR) reported a strong quarter. Lower oil prices is good news for Disney (DIS) and Chipotle Mexican Grill (CMG) and for Delta (DAL) which reported its best quarter ever. With more consolidation in the industry, Delta can raise prices; "This is the age of the airlines." Honeywell (HON) boosted its dividend by 10% and redeemed itself after the street didn't like its quarter. Those who sold Honeywell on its earnings represented "stupid money exiting stupidly," Cramer said. Wal-Mart (WMT) and TJX (TJX) gave new hope for retail, and Cramer thinks TJX is "the unsung hero of this market." McDonald's (MCD) should do well on the weaker dollar, Freeport McMoRan (FCX) reported a strong quarter, and Cramer expects strong earnings from GM (GM) and Ford (F). Cramer doesn't think Alcoa (AA) can stay down for much longer. Momentum stocks fell on Tuesday and oils dropped, but Cramer doesn't think oils will stay down.

Cramer took some calls:

Peabody (BTU) is performing better than expected, but Cramer warned not to be greedy.

CEO Interview: McAndrew Rudisill, Emerald Oil (EOX)

Even though the price of oil is falling, the long-term picture for domestic oil producers is generally bullish. Emerald Oil (EOX) is a small oil producer and is "not for the faint of heart," because it is highly speculative. It has exposure to the Willston Basin and the Bakken as well as less popular locations. It currently has 2 rigs and plans to double the rig count in 2014 and double its production. EOX uses technology to find oil in out-of-the-way places, and is making the transition from transporting oil by truck to pipeline, a move that will cut costs substantially. The company has no debt, plenty of cash and expects to be profitable by next year. Cramer notes that EOX's valuation is low relative to its competitors.

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Source: Cramer's Mad Money - I Was Roundly Hounded About Google (10/22/13)