Jim Cramer's Mad Money In-Depth Stock Picks, Jan. 23

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday January 23. Click on a stock ticker for more analysis:

More Top Foreign Stocks: Companhia Vale do Rio Doce (RIO), NTL (NTLI) and Bank of Nova Scotia (BNS) with Homex Development (HXM) and Baidu (BIDU)

After discussing RIO, his favorite foreign stock on Monday's program, Cramer moved a bit further down the list to the largest British cable company, NTL. Although the stock didn't move when other cable companies rallied and has a pile of debt, Cramer sees an upside for the company with its triple play of internet, cable and phone. Since Virgin Mobile has a stake in the company, it is changing its name to Virgin Media which will improve NTL's image since the Virgin brand name is "incredibly strong." Cramer also likes BNS, and says that it has good growth potential and will likely keep increasing its 3.3% dividend. He adds that BNS has the advantage of taking market share in Canada, an "underbanked country, and is "the single-best, low-risk way to play the new pro-capitalist revolution in Latin America." Cramer reiterated his statement that an investor could devote 20% of his or her portfolio to foreign stocks, and while he also likes Homex and Baidu, he warns that they have already had a run and are too expensive now.

Keith McMahon explains why he is bearish on NTLI.

An Amicable Separation: Tyco (TYC)

Cramer points out that some companies are not as strong as the sum of their parts, and observes that if TYC were to spin off its four divisions: electronic, health care, engineered products and fire and securities, the businesses would be worth more separately. His conservative estimate is that Tyco's breakup would mean a 10% upside for the stock.

Tova Messer discusses the advantages of a Tyco breakup.

CEO Interview: Mackey McDonald: VF Corp. (VFC)

Commenting on the company's sale of its sluggish Fruit of the Loom business, Mackey McDonald said, "Today's announcement is a big step forward," adding that the sale will improve VFC's organic growth rate and gross margins. Mackey commented that the company will now be in a position to develop its higher-growth businesses and to focus on its shareholders. Cramer would back up the truck and buy VFC.

On his December 5th program, Cramer speculated that VFC might buy Timberland.

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