Jim Cramer's Mad Money In-Depth Stock Picks, March 13

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday March 13. Click on a stock ticker for more analysis:

Getting Defensive: Kroger (KR), Safeway (SWY), Supervalu (SVU), Colgate-Palmolive (CL), Kimberly-Clark (KMB)

"Subprime is the only problem," Cramer reassured investors after the "absolutely brutal" downturn on Tuesday which affected the whole market. While mortgage lenders should be suffering from subprime lending woes for awhile, Cramer remarks, "It is wrong for the Street to be so indiscriminate ... before we damn the whole market, let's remember what were damning." However, this widespread decline provides a buying opportunity in defensive sectors, such as food, drugs and utilities, sectors which historically perform well when housing is doing badly. Cramer suggests looking at KR, SWY, SVU, CL and KMB, but only after three days, since "the future on the commodity that has captured stocks -- the S&P 500 -- expires Friday, so I expect very little upside in this group until Monday."

Related: Roger Nusbaum examines Bill Cara's argument that the subprime loan fiasco may lead to a depression.

Thank You for Smoking: Altria (MO), Altria's When-Issued Shares MO-WI (MOWI), Kraft (KFT), General Mills (GIS), Kellogg (K), Sara Lee (SLE)

"There's nothing more defensive than cigarettes," says Cramer who recommends Altria's when-issued shares, MO-WI, which are comprised of pure Philip Morris stock without the Kraft spinoff. Cramer comments Philip Morris is best-of-breed and the MO-WI shares offer a higher dividend. He suggests buying before March 30th when MO-WI will rejoin Altria. Although Cramer doesn't dislike KFT, he prefers food stocks GIS, which has been "doing fabulously," K and SLE, which have more "consistent and exciting growth" than KFT.

Related: Chad Brand doubts MO will rally after the Kraft spinoff.

Dow Chemical (DOW), Alcoa (AA), BHP Billiton (BHP), and Companhia Vale do Rio Doce (RIO)

Cramer admits he has been waiting since February for DOW and AA to dip after takeover rumors which were printed a British newspaper. While he discourages speculation on potential buyouts if the fundamentals are not strong, "the fundies for both DOW and AA are pretty good." According to the rumors, Dow could be purchased by private equity firms at $60 a share, a substantial premium from its present rate of $42.94. He notes the company has a 3.5% dividend yield, has been raising prices and cutting costs. There is talk that BHP and RIO are eyeing AA at $40 billion, or $40.68 a share, while its current price is $32. The companies need the extra smelting capacity, and Cramer comments aluminum should perform better than it has been. "Buy Dow and Alcoa because when there's smoke, there's fire."

Related: Todd Sullivan argues a Dow buyout will not be beneficial.

CEO Interview: Brian Roberts, Comcast (CMCSA) with Verizon (VZ)

Cramer asked Brian Roberts if Comcast raised its capital expenditure in order to compete with rival Verizon, and he replied, "We upped our spending because people are buying our new products in record numbers. We're selling 50,000 phone subscriptions a week." This 30% increase "costs some money," although Roberts added these expenses will not interfere with Comcast's buyback plan; "We have bought back almost 10% of stock in the last two-and-a-half years, and we're going to continue buying back stock," Roberts said. Cramer would pull the trigger on Comcast and referred to Roberts as "money in the bank."

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