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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Friday June 3.

6 Earnings to Watch in the Coming Week: G-III Apparel (NASDAQ:GIII), Booz Allen Hamilton Holding Corporation (NYSE:BAH), Ciena (NYSE:CIEN), Brown-Forman (BFA), J.M. Smuckers (NYSE:SJM), Lululemon (NASDAQ:LULU) other stocks mentioned: Quicksilver (NYSE:ZQK), General Mills (NYSE:GIS), Kinder Morgan Partners (NYSE:KMP), Philips Van Heusen (NYSE:PVH)

On a bad day for the indices because of a terrible employment number, Cramer said he was surprised the market didn't get crushed more. He listed 4 things that need to happen before the news starts to get brighter:

1. Lower stock prices across the board. This is a painful panacea, but until there is a major decline, there won't be a major move up.

2. A solution for the debt ceiling crisis.

3. Price of oil falls. Oil is the only thing in this market that is staying up, and it needs to decline for the rest of the economy to recover. Raising the margin requirements on buying futures would help remedy the situation.

4. The Chinese Central Bank stops raising interest rates. If there will be an announcement on Sunday that the Chinese Central Bank is raising rates just one more time for the next three months, the Dow would rise 200 points, Cramer predicted.

Cramer discussed earnings to watch in the coming week:

Monday

G-III Apparel Group (GIII) licenses Calvin Klein from Phillips Van Heusen (PVH) which is performing well. Cramer wants to hear more from GIII, but he would stay away if there is any indication that the company would have difficulty selling their NFL Gear.

Tuesday

Booz Allen Hamilton Holding Corporation (BAH) is a company no one seems to pay much attention to. The consulting company had its IPO 6 months ago and has dropped back nearly to its IPO price; "That is opportunity. I don't care how bad things are," said Cramer. If the stock stays low on the conference call, Cramer would buy.

Thursday

Ciena Corporation (CIEN) was once a leader and now is trading awfully. If management says the worst is over, it might be time to buy, but right now it is too high.

Brown-Forman (BFA) is a good earnings call to watch.

J.M Smucker (SJM) needs a good quarter, especially after buying Folgers. Cramer would sell SJM before the quarter.

Friday

Lululemon (LULU) was a stock Cramer got behind "when nobody liked this thing, when people thought it was just a fad." The stock has risen 100% since Cramer started discussing it. Now investors who have not taken gains are being too greedy, and with a downgrade and a report on high raw costs, Cramer emphasized the need to take some profits on LULU.

Cramer took some Calls:

General Mills (GIS) would be a good stock to buy if there is a double dip recession, but Cramer doesn't believe in that scenario. For dividends and safety, Cramer recommends Kinder Morgan Partners (KMP) instead.

Quicksilver (ZQK) is a stock that has "already happened." Cramer added it isn't worth trying to figure out what young people are going to be wearing.

Best Plays on Domestic Shales: EOG Resources (NYSE:EOG), Continental Resources (NYSE:CLR), Whiting Petroleum (NYSE:WLL), Petrohawk Energy (NYSE:HK), Pioneer (NYSE:PXD), Sandridge (NYSE:SD), Marathon Oil (NYSE:MRO), Hess (NYSE:HES) other stocks mentioned: Avalon Rare Metals (NYSEMKT:AVL), Alpha Natural Resources (NYSE:ANR)

The best way to play high oil prices is to look for onshore domestic shale plays. Contrary to popular belief, the U.S. is awash in oil, with a 25% increase in output expected in the next few years. Cutting edge technology is transforming oil fields that once seemed worthless into cash. As long as oil stays above $60, it will be profitable to drill in any of the domestic shales.

The Bakken shale has provided the largest oil find in a generation. The best Bakken plays are: Hess (HES), EOG Resources (EOG), Continental Resources (CLR) and Whiting Petroleum (WLL). While the Bakken has received a lot of attention, Cramer doesn't think investors realize the growth potential in the Permian Basin and the Eagle Ford shales. Marathon Oil (MRO) has agreed to buy assets in the Eagle Ford priced 25% higher than they would have been in March. EOG is a good play for both the Eagle Ford and the Bakken, and if it has to issue a secondary offering to raise money for its new projects in either region, Cramer would get in early on the offering. Petrohawk (HK) is a natural gas company diversifying into oil, and was one of the earliest players in the Eagle Ford. Pioneer (PXD) is increasing its rig count in the Eagle Ford from 9 to 12. Permian Basin is a more mature oil field, and production there was only in decline because companies were taking a hiatus to shift to newer technology. Permian Basin plays include: Petrohawk, EOG, Pioneer and Sandridge (SD)

Cramer took some calls:

Avalon Rare Metals (AVL) is not a good retirement play, because it is a "dice roll."

Alpha Natural Resources (ANR) is not likely to rise to $60 in a month, but Cramer suggests investors who like it should buy it, but be prepared to sit on it for a while.

Health Spec: SunOpta (NASDAQ:STKL)

SunOpta (STKL) is a great play on the obesity war, a social problem First Lady Michelle Obama has spoken about. The company produces natural and organic products, including snacks, soups, juices, soy and rice milks and pet food. SunOpta is a speculative stock with a $500 million market cap and sells at $7. SunOpta's clients are among the leading purveyors of health food. The company trades at a multiple of 14 with a 30% growth rate. Why does SunOpta trade at such a discount to its competitors? The company is not so easy to understand, since its food business is a pastiche of 23 different food companies and brands SunOpta has acquired. The company also has a segment which produces, distributes and recycles environmentally friendly metals. This business makes up 10% of the company, but since it has been performing well, it is not a drag on SunOpta's food business. Cramer would consider buying SunOpta as long as the price remains low and urged investors to do some homework on the stock.

3 Stocks Viewers Asked About: Universal Display (PANL), Abiomed (NASDAQ:ABMD), Calumet Specialty Products (NASDAQ:CLMT). Other stock mentioned: Samsung (OTC:SSNLF)

Universal Display (PANL) controls a key ingredient for the construction of flat panels, but Cramer doesn't find the story compelling when the company's patents are being challenged, and 43% of its revenues come from one company: Samsung (OTC:SSNLF). PANL missed its estimates by 28 cents and its stock dropped 20% in one day as a result. Cramer thinks the company has to prove itself before it earns a recommendation.

Abiomed (ABMD) is a speculative play on cardiac devices and has risen 80% in the last year. The company is involved in talks over reimbursement from Medicare and Medicaid. Cramer says he needs to hear more about this issue, but the stock has risen sufficiently for him to conclude; "It's too late."

Calumet Specialty Products (CLMT) has an 8.9% dividend which seems secure. The company processes crude oil to produce industrial and consumer products. The company has hedged its oil prices and has sufficient cash flow to cover and even raise its dividend. "I think we have a winner."

Get in on the Groupon IPO. Other stocks discussed: LinkedIn (NYSE:LNKD), Yandex (NASDAQ:YNDX)

Cramer responded to Twitter critics who were upset that Cramer recommended getting in on the Groupon IPO. These critics accused Cramer of telling people to "buy a bubble". Cramers response was the viewers need to look no further than the tremendously successful social networking IPOs: LinkedIn (LNKD) and Yandex (YNDX). These deals were profitable not because of the fundamentals of the companies, but as a quick trade on a hot IPO. Demand for Groupon is high compared to the number of shares that are likely to be issued. Cramer would get in on the Groupon IPO, but he warned, "Take the money and run."

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Source: Cramer's Mad Money - 6 Earnings to Watch in the Coming Week (6/3/11)