Jim Cramer's Mad Money In-Depth Stock Picks, Nov. 30

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday November 30. Click on a stock ticker for more analysis:

Second Helping: Denny's (DENN)

Cramer says that Denny's is a comeback story that is being ignored because most Wall Street investors are "snobs ..."They don't understand what's going on at these restaurants." Denny's has been selling restaurants and is moving toward a franchise business model to cover its debts. Cramer cited CEO Nelson Marchioli's confident statements about elminiating debt without selling 21 of its stores, and commented that Denny's has an "amazing" opportunity to refinance its low rates. Since Denny's is a small-cap stock, Cramer cautions investors to use limit orders when buying or "you will get ripped off."

Related: On November 15, CEO Nelson Marchioli was interviewed on Mad Money.

Mistaken Downgrade: McGraw-Hill (MHP), New York Times (NYT), Dow Jones (DJ)

Cramer says that AG Edward's downgrade of MHP is an incredible opportunity to buy a diversified media stock. Although people consider NYT and the Wall Street Journal as the Harvard and Yale of newspapers, investors would be better off buying the universities, comments Cramer : "In 50 years, I doubt anyone will even read newspapers." In any case, NYT and DJ have two classes of stock which prevent takeovers. Cramer calls McGraw Hill "The only media play that isn't really a media play... it's more like a private-equity play," because every private-equity deal needs to be financed with bonds rated by Standard & Poors which MHP owns. "It is a real company, with real growth, real profits and real dividends," Cramer said. "The AG Edwards downgrade was wrong."

Related: Paul Tracy discusses MHP's financial and publishing business lines.

Sell Block: Wal-Mart (WMT)

Cramer urged investors to sell this stock "six ways from Sunday" because the retail giant is suffering from the "shutdown of the immigrant buyer" due to a tough I.D. verification program in New Jersey which prevents illegal immigrants from renewing their driving licenses. Since the stores are usually not within walking distance of residential communities, "No car, no Wal-Mart," concludes Cramer who adds, admitting that the subject is a touchy one: "If a liberal state like New Jersey is cracking down like this, you can only imagine what other states are doing."

Related: Concerning Wal-Mart, Larry MacDonald asks whether the U.S. consumer is finally knuckling under?

CEO Interview: Rick Rosenfield, California Pizza Kitchen (CPKI)

When Cramer asked Rick Rosenfield how he would reassure those who are worried about his company, he admitted, "We did have some slippage, but I haven't seen much of a downgrade ... Our investors and analysts have stood by us." He added that the restaurant's profitablility and fundamentals are solid. Rosenfield went on to define "slippage" as bureacracy which is out of the company's control. When asked if he was concerned about the waning popularity of pizza, Rosenfield stressed the restaurant's diverse menu, which includes salads, appetizers and pasta. Cramer would take advantage of CPKI's slippage to pick up some stock, because he likes the restaurant.

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