Jim Cramer's Wall Street Confidential Picks, April 4

Recap of Jim Cramer’s comments on Wall Street Confidential, Wednesday April 4. Click on a stock ticker for more analysis:

A Look at IPOS: Omniture (OMTR)

Cramer suggests avoiding IPOs that are "blank check companies" and don't predict profits by 2008 or 2009. With 67 initial public offerings totaling $11.9 billion this quarter, there are many good IPOs to choose from. While the media often talks about IPO mania, Cramer notes if an investor does homework, there is no danger of falling for bad IPOs. On the subject of blank checks, or companies which have no expressed purpose other than to buy other companies, Cramer despaired of the SEC's "hands off" policy and added; "Someone should be warning people that these IPOs are bad, but no one is doing it." Cramer likes OMTR because it reminds him of Akamai Technologies, and while it doesn't yet make a profit, he predicts OMTR will be "gigantic." He would not wait for the company to be profitable before getting in. He reiterated investors should not believe the hype about IPO mania but should "believe the articles which say this company is better than others."

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