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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday April 30. Click on a stock ticker for more analysis:

"B" is for "Buy": CR Bard (NYSE:BCR)

Cramer unveiled his "ultimate defensive 'Three Bs' portfolio" which are all medical and are "richly valued" but are affordable. In spite of its 25% rise since Cramer's recommendation in September of 2005, BCR has room to run, and Cramer notes 80% of its sales are from markets where it has either the largest or the second largest market share. Although the Democrats are trying to make anti-competitive mergers more difficult, a company that is interested in buying BCR may have a "gun to its head" right now and make a quick offer. With half a billion dollars in cash, BCR could well make its own acquisitions, says Cramer, and will do well in a slump because it makes life-saving equipment.

Backing Becton Dickinson (NYSE:BDX)

Cramer calls this needle-producer "safe" and feels its two recent acquisitions were "smart" moves. BDX has developed a fast and effective test to diagnose drug-resistant staph infections. Although it has risen 31% since last July, Cramer sees a large potential gain for the stock which should be protected from the Democrat's wrath. BDX is a buy because it reported a good quarter and gave solid guidance, Cramer thinks stocks like BCR and BDX are the place to be until Fed chairman Ben Bernanke "grows a heart."

Best of Breed B: Baxter International (NYSE:BAX) and Boston Scientific (NYSE:BSX)

Cramer hails BAX as best-of-breed, but would wait for it to dip a bit before buying. He likes the company because it has a diverse range of products and is less speculative than BSX, which reported a bad quarter. While some would prefer BSX because it is cheaper, Cramer thinks the stock is cheaper for good reason.

Mad Mail: NYSE Euronext (NYSE:NYX), Cummins Engine (NYSE:CMI), Rockwell Collins (NYSE:COL), General Dynamics (NYSE:GD), Northrop Grumman (NYSE:NOC)

Cramer said he liked NYX because it is leveraged to Europe; "I am sticking with it, and I think it is going to be a great, great stock for the next few years." He praised a viewer who took profits in CMI and said the reason COL did not take part in the defense rally because its quarter was not good; Cramer prefers GD or NOC.

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Source: Jim Cramer's Mad Money In-Depth Stock Picks, April 30