Jim Cramer's Mad Money In-Depth Stock Picks, Oct 26

Includes: CAG, CNET, PHM, UNH
by: Miriam Metzinger

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday October 26.

ConAgra (NYSE:CAG):

Conagra is a "joke" on Wall Street, says Cramer, but investors may end up laughing all the way to the bank. "There are two kinds of companies: tragedies and comedies," Cramer said. A tragic company falls all the way to zero and a comedy will keep messing up but cannot ruin itself, and this is "ConAgra in a nutshell," according to Cramer, since it keeps making brands that don't work. However, the stock has been going up since it has a new CEO Gary Rodkin to manage its brands. Analysts are skeptical, but Cramer comments that the company has always been "a good box with bad packaging" and "it is going to make people some mad money and is a turnaround story with a bright future."

Related: Jason Shade discusses ConAgra's possible turnaround.

Buffalo Wild Wings (NASDAQ:BWLD):

Cramer says that it is not too late to pick up BWLD and the stock might be an even better buy at $50 than it was at $42; although this may seem counter intuitive, "it is completely and utterly true," he said. Although BWLD is not a good stock for those who are worried about volatility since the bears are after BWLD, the company will benefit from an ESPN ad campaign and its family-friendly image. In addition, the shops offer 14 different sauces and are located in 36 states, mainly in the Midwest, with plenty of room to grow, according to Cramer who concludes, "this is a story in its adolescence, if not in its infancy," he said. "It's better to be in late than not get in at all."

Related: Chad Brand discusses Buffalo Wild Wings' "excellent" third quarter.

Brocade Communications (NASDAQ:BRCD), CNET Networks (NASDAQ:CNET), UnitedHealth Group (NYSE:UNH)

Options backdating scandals are not devastating companies involved observes Cramer, but these stocks come back up after a temporary let-down. Brocade dipped from $8 to $4 during the scandal, but climbed back up to $5 and is now sitting at $8.64. CNET and BRCM also went up after a post-scandal downturn. Even UNH which Cramer said had "by far one of the worst backdating-option scandals" has also recovered. Investors could have used the scandal as an opportunity to buy some good stocks since "backdating options isn't something you do when business is bad."

CEO Interview: Richard Dugas, Pulte Homes (NYSE:PHM)

Cramer asked Richard Dugas how homes were moving and he replied, "We're having a slowdown across the board .... I wouldn't call a bottom yet." However, Dugas added that he has seen "signs of stabilization" and said that the cancellation rate was unchanged for three months. Cramer suggests taking a little of PHM off the table since it has had a good run.

Related: Tim Iacono discusses a regression to the mean in housing.

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.

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