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

Editor's Note: Until February 26th, Jim Cramer will be broadcasting "Mad Money High Noon" which will air midday. There was no Lightning Round segment yesterday.

No Hair Stocks: Visa (NYSE:V), Mastercard (NYSE:MA)

Cramer discussed "no hair" stocks; companies that have consistently beat numbers in spite of the larger economy. Visa (V) delivered an outstanding quarter on February 3, and although it has exposure to the consumer and to financial institutions, it isn't in the business of lending money; “Visa’s the kind of name,” Cramer said, investors “need to think about during these tough times.” Visa dominates 53% of the credit and debit card business worldwide compared to Mastercard's (MA) 25% market share. Visa will benefit from a recovery, but at the same time, is not dependent on the world economy. Since many transactions are still done with cash, the stock has room to grow. The company beat its earnings estimates by 8 cents, is up 12.7% year over year and expects 20% earnings growth this year.

Kohl's (NYSE:KSS), Nordstrom (NYSE:JWN), Wal-Mart (NYSE:WMT)

Cramer asked how consumer spending can be up while the jobless rate is rising. The answer: “The banks are subsidizing the consumer by not foreclosing” on them. Auto loans and credit cards are still strong. Apparently the consumer is careful to pay off credit card debts so they can go out and shop as they did in the pre-recession era. Kohl's (KSS) and Nordstrom (JWN) are strong in spite of weak numbers from Wal-Mart (WMT). However, the lenders are the ones that have to pick up the bill.

CEO Interview: Lew Frankfort, Coach (NYSE:COH)

Cramer asked Lew Frankfort how Coach (COH) can still have big gains during a recession. The company is seeing double-digit gains in sales and had a strong January and February. The company is offering new products more often and is rebalancing its price points so some items are 15% cheaper. Coach's expansion into China is the biggest thing that has happened for the company in a long time. Its focus on the rising professional woman allows it to grab a niche that is going to grow stronger with China's economy. Frankfort says its possibilities in China are "unlimited." Cramer would buy Coach at its current level.

Stock Talk: Fannie Mae (FNM), Freddie Mac (FRE), Pfizer (NYSE:PFE), Sprint Nextel (NYSE:S), Apple (NASDAQ:AAPL), Merit Medical Systems (NASDAQ:MMSI)

Cramer said Fannie Mae (FNM) and Freddie Mac (FRE) are "worthless," Pfizer (PFE) is the most disappointing of all drug companies and Sprint (S) has a balance sheet to sort out. He predicts if Apple (AAPL) goes up just a dollar, the entire tech sector will rally.

CEO Interview: David Steiner, Waste Management (NYSE:WM)

Waste Management has the advantage of the fact that it is evenly divided between residential and commercial pickup, and the recession-proof nature of the latter business has been instrumental in the company's success. The harsh winter weather might impact the company's earnings which are likely to be 2 cents a share. Steiner says the company's garbage can be worth $8-$10 million a year and the company has been converting waste into energy. Steiner says the company will continue offering its dividend and will repurchase shares.

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Source: Cramer's Mad Money- No Hair Visa (2/18/10)