Good Taste: Senomyx (SNMX), Coca-Cola (KO), Kraft Foods (KFT), Cadbury Schweppes (CSG) and Campbell Soup (CPB)
Although it has "massive losses and barely any revenues," Senomyx will be a buy in a week or two according to Cramer because it has a new drug in the pipeline which mimicks the flavor of sweet and salty foods and which uses its active ingredient in such small quantities that it can bypass the FDA. Cramer adds that SNMX is strictly a speculative play. SNMX has made deals with KO, KFT, CPB and Cadbury Schweppes. Although the company will receive only 4% royalties from its product, Cramer believes that this should increase and that it has a good balance sheet and abundant cash flow which should offset its prior losses.
Merck (MRK) and Genentech (DNA)
When he was working for Goldman Sachs (GS) in 1986, Cramer spoke to a doctor who was testing an anti-cholesterol statin drug which was being sponsored by Merck (MRK). When Cramer decided to buy up a large number of MRK shares, an analyst laughed at him and thought the statin drug was "hype" until Cramer laughed all the way to the bank, made a few of his clients a fortune and was able to start his hedge fund. Cramer mentions this story because he feels that Genentech's anti-cancer drug Avastin, which is unique because it actually starves tumors, could enjoy the same success. He suggests picking up half of a position this week and the other half next week after DNA reports.
Global Signal (GSL), Crown Castle (CCI), Dell (DELL), Infosys Technologies (INFY), Monsanto (MO), Costco (COST), Gannett (GCI), Cadbury Schweppes (CSG), Google (GOOG), and Alaska Communications Systems' (ALSK)
A year ago, Cramer suggested picking up GSL which is now being bough by CCI. These were good long-term stocks, but Cramer selected some short-term plays for the week starting October 8th while telling investors to avoid Dell (DELL), a company that "needs a makeover" and more call centers. He said that Infosys Technologies (INFY) should be purchased early in the week before it reports since it rises even with bad news and is a good way to play the secular growth trend toward Indian call centers. Cramer suggests picking up his favorite biotech Monsanto before its report on Wednesday. He also likes Costco and the newspaper stock Gannett which has "actual revenue growth" and a "great risk reward." Cramer recommends picking up Google if it buys YouTube which should cause it to rise to $500. Moving on to his "Mad Mail" segment, Cramer replied to a question about ALSK's negative P/E by saying that the company had been losing money but was picking up steam.
Related: Phil Davis is bullish on Gannett.
More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.
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