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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday July 14.

JPMorgan (JPM)

In spite of the fact that banks have been bad, JPMorgan's (JPM) stock rose 75 cents on a strong earnings report during which it discussed the company's excellent control of expenses, lower loan losses and its "fortress-like" balance sheet. Is it now time to buy the banks? Cramer thinks JPMorgan is the exception to the rule, and it is unfortunate that the best bank reported first, since it will raise expectations for the poorer banks. JPMorgan's success aside, the banks are still a terrible place to invest, said Cramer.

Mad Mail: ON Semiconductor (ONNN), Novellus (NVLS), GNC Holdings (GNC), BP Prudhoe Bay (BPT), Core Labs (CLB)

Cramer doesn't like tech, since there is so much cyclical and seasonal weakness. Semiconductors like ON Semiconductor (ONNN) are especially weak, given information from Novellus (NVLS) that orders have been languishing and will continue to be slow. With the stock up 30% year over year, ON is a sell.

GNC Holdings (GNC) hasn't risen as much as other stocks in the health food bull market. Cramer would buy this inexpensive stock.

BP Prudhoe Bay (BPT) has a 9.3% yield and is a sound investment. If oil goes down in price, the dividend may fall, but Cramer thinks oil is stabilizing. When oil is at the $98-100 level, investors will make a "ton of money" in BPT.

Core Labs (CLB) tends to decline after it reports, but Cramer would use the drop as a buying opportunity. Core Labs is the company oil explorers go to when there is a new find in the U.S. and CLB is an essential part of the domestic oil revolution.

Conoco-Phillips (COP), Marathon (MRO)

Cramer applauded the breakup of Conoco-Phillips (COP), a move he recommended on Mad Money before the spin-off was announced. COP is hanging onto its profitable exploration and production business and is selling its refining segment. The stock shot up 7 points on the news but fell on oil's $2 decline. Cramer thinks COP hasn't risen enough on the announcement and should be bought.

Marathon (MRO) did a similar spin-off and saw a 21.2% gain on the news alone. Cramer thinks Conoco could end up trading as much as $104, but admitted this might be a stretch, since Marathon had more hidden assets and COP. Cramer thinks Conoco Phillips has more room to run.

Dunkin Donuts (expected to trade under the symbol DNKN), Starbucks (SBUX)

Cramer would get in on the piping hot Dunkin Donuts IPO (expected to trade under the symbol DNKN), and thinks it could end up as the most attractive coffee stock, and may even eclipse Starbucks (SBUX). Dunkin Donuts has 9,805 locations worldwide and also owns 642 Baskin Robbins stores. The power of its brands will help the company expand for the fifth straight year. The company has been rated #1 for customer loyalty, an even higher rating than for Starbucks. A full 100% of Dunkin Donuts' stores are franchises, and the company predicts it will be able to double its U.S. store count in the next 20 years. The company is expanding overseas, where it gets 20% of its sales. Coffee, which comprises 64% of its sales, is a more popular item than donuts, and the company has won the breakfast war and is expanding its breakfast offerings into the afternoon hours.

The company expects to issue 22.3 million shares at a price between $16 and $18. The stock sells at a multiple of 20 with Starbucks trading at 22, but the latter has a stronger growth rate and better same store sales. So why invest in Dunkin Donuts? The growth trajectory for Dunkin Donuts is strong; the company has nearly doubled its same store sales from 2.7% to 4.7%. In short, Dunkin Donuts is a bad to good story while Starbucks has just been consistently good. Cramer would buy the IPO up to $20, but would not pay more or buy the stock after its IPO.

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Source: Cramer's Mad Money - JPMorgan Is the Exception, Not the Rule (7/14/11)