Jim Cramer's Wall Street Confidential Picks, Jan. 30

Recap of Jim Cramer’s comments on Wall Street Confidential, Tuesday January 30. Click on a stock ticker for more analysis:

Colgate (CL), Illinois Tool Works (ITW), Black & Decker (BDK): Cramer says that many people are more interested in the Fed than stocks, and that the Fed-obsessed may miss out on good moves like buying Colgate, Illinois Tool Works and Black & Decker. He expressed a wish that investors could return to a time when "we recall that there are only certain industries that are hurt by these rates -- auto and housing." Since neither industries are expected to perform well, Cramer believes a rate hike is unlikely, and while he believes there will be a rate cut, he doesn't expect an upside from a rate reduction this year.

3M (MMM), Merck (MRK), UPS (UPS): Cramer commented on three companies which had poor guidance, 3M, UPS and Merck, and said that 3M "doesn't have a clue," Merck has "bad management" and a"very bad pipe," and expressed bafflement at UPS's low guidance.

Motorola (MOT), Time Warner (TWX): When Aaron Task asked about Carl Icahn taking a stake in Motorola, Cramer noted that the activist financier has changed his methods; while Icahn once would really shake up a company, he now enters with a "substantive, constructive critique." Cramer said that he was wary of companies that avoid Icahn, because he can offer "tremendous guidance from many different fields," although Icahn tends to be rough on management. Cramer was surprised to see TWX's Dick Parsons, whom Cramer calls "a modern-day classic CEO" embrace Icahn in spite his cool feelings initially. "The CEO matters more than people realize," comments Cramer, "and the CEO sets the tone."

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