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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Friday June 11.

Clean Harbors (NYSE:CLH), Waste Management (NYSE:WM), Newpark Resources (NYSE:NR)

As the oil keeps gushing in the Gulf of Mexico, Cramer looked for opportunities on how to turn disaster into dollars for investors. Clean Harbors (CLH), the biggest disposal service for toxic waste in the U.S, was awarded a contract to clean up the oil spill in the Gulf of Mexico. Because of this contract, the company increased its guidance by 20% and the stock is up about 17%. With a growth rate of 17% compared to a multiple of 22, Clean Harbors has more room to run. However, Cramer cautioned investors against chasing the stock and his target price is the low $60s.

“One day the spill will be done, and the stock is going to come down.” Two other stocks in the waste and oil cleanup business are Waste Management (WM) and Newpark Resources (NR). Cramer likes both stocks, but he prefers Waste Management.

Game Plan for the Coming Week: JM Smucker (NYSE:SJM), Pier 1 Imports (NYSE:PIR), Chicago Board Options Exchange (NASDAQ:CBOE)

With the Dow finishing up for the second day in a row, with a 39 point finish on Friday, the Nasdaq gaining 1% and the S&P 0.4% ahead, Cramer says there is no need to remain pessimistic, although he said caution is still the name of the game. It looks like three items in his 6 point checklist of things that need to happen before investors can be bullish have been checked off; China is set for a soft-landing, there was good news from Spanish banks and financial reform is close at hand.

While the oi spill is still gushing and Americans are concerned about unemployment and high taxes, Cramer says "good news matters again." He pointed out several things to keep an eye on in the coming week:

1. Chicago Board Options Exchange (CBOE) IPO on Wednesday will be a major event, given the intense demand among institutional investors, and will have “huge implications for the exchanges and the market as a whole,” he said, “so keep an eye on it."

2. Best Buy (NYSE:BBY) earnings on Tuesday before the bell. Best Buy is the "ultimate barometer of discretionary spending" said Cramer. Analysts are expecting revenue of 50 cents a share or $10.94 billion and growing demand and sales for big-ticket merchandise

3. J.M. Smucker (SJM)'s earnings report on Thursday. Pay special attention to remarks about the Folger acquisition.

4. Pier 1 Imports' (PIR) earnings report on Thursday. This stock has taken a terrible beating, and has fallen 30% since Cramer recommended it in April.

5. The Housing Starts and Permits report on Wednesday will indicate how important mortgage rates are right now. Cramer thinks the number will drop, but if the number holds, it will indicate that the rates are important.

6. Producer Price Index and Consumer Price Index Report on Wednesday. A bit of inflation may indicate the economy is revving up.

7. Options expiration. This may cause some "unnatural trading" in the middle of the week.

CEO Interview: Dr. Sehat Sutardja Marvell Technology (NASDAQ:MRVL)

With increasing volatility in the stock market, Cramer recommended looking for a name that is in the center of a long-term secular theme. Marvell Technology (MRVL) which makes semiconductors used in hard drives, Ethernet networking equipment and mobile phones is also playing an important role in the mobile internet tsunami. Marvell's sales keep rising quarter after quarter, well into the double digits, and yet Marvell is down 15% from its April high. With a long-term growth rate of 16% and a multiple of 10, the stock is very inexpensive, and has plenty of available cash.

Sutardja said he's in the business with an eye to the next 3-5 years, not just the next few months. He isn't worried about the "seasonal" nature of the industry, since it is becoming increasingly product-driven, and depends on what is on the market rather than the calendar; "Seasonal patterns are not something I worry about."

Cramer says the stock is too low and he would pull the trigger.

Mad Mail: BP (NYSE:BP)

A viewer was concerned that the "Volcker rule," which will require big banks to split up, will make it into the financial reform bill. Cramer replied that such a move will not affect option volume, and even, he doubts it will be included in the reforms.

While BP (BP) says it has "significant financial flexibility" to deal with the oil spill in the Gulf of Mexico it is being pressured by President Obama to delay its special dividend. Cramer suggests the company take care of the catastrophe first and talk about a special dividend later; "Place a $20 billion bond,” he said. “Then we know that we don’t have to worry about the dividend.”

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Source: Cramer's Mad Money - How to Profit from BP's Oil Spill (6/11/10)