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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Friday June 8. Click on a stock ticker for more analysis:

Lehman Brothers (LEH), Goldman Sachs (NYSE:GS), Bear Stearns (NYSE:BSC), Gilead (NASDAQ:GILD), Hologics (NASDAQ:HOLX), Medco Health (NYSE:MHS), Cisco (NASDAQ:CSCO), Level 3 (NYSE:LVLT), Garmin (NASDAQ:GRMN), Ciena (NYSE:CIEN), Chicago Bridge and Iron (NYSE:CBI), Allegheny Tech (NYSE:ATI)

Cramer called LEH, GS and BSC "premium franchises" and would "load the boat up." He feels LEH has been given unfair estimate cuts and GS trades at a price-to-earnings multiple not worthy of even a "crummy plastics company." He also likes Gilead, Hologics, which he recently purchased, and Medco Health, which rose $3 on a federal contract and dropped down again. Other picks include Cisco, "the biggest percentage gainer in the S&P," LVLT, a "speculative fave," Ciena and Garmin. Finally, Cramer added CBI and ATI, his 2006 stock of the year, to the list. However, he would buy none of these picks if the four-and-a-halfs of 5/17 or the Bellweather bond continues its descent. It moved down from $100 to $94 on Thursday, and a lower price means a higher yield and a more attractive bond market. However, if it increases to $96-$97, Cramer would still be bullish on the above-mentioned stocks.

The Soda Ash Wars: FMC Corp. (NYSE:FMC)

Rumors the Chinese government is considering an end to tax rebates for their soda ash exporters is good news for FMC, which is the second largest producer of soda ash, a substance used to make such diverse items as glass, cleansers, film and bricks. However, Cramer emphasizes this is just a rumor, and would buy the stock down, since it has dipped since its recent spike. FMC uses a cheaper production process than that of the Chinese, it has pricing power because it is part of a cartel, and its agricultural chemical business is "incredibly strong," says Cramer.

Major Miner: Sterlite Industries

Sterlite, which will trade under the symbol SLT, is India's largest mining company, has "steroidal growth," and has China close by as a huge consumer. Sterlite has a 42% market share in copper, along with some aluminum, and is part of an "unfair" zinc duopoly. Cramer likes privatized companies like Sterlite because the government doesn't want "the deal to blow up in their voters' faces, so they're all priced below what they should be." He suggests buying the stock at a discount, since he expects it to go up, and sets the maximum entry point at $14 with an exit point at $20.

CEO Interview: Gary Butler, Automatic Data Processing (NASDAQ:ADP)

Gary Butler discussed ADP's the recent $2 billion spinoff of its brokerage business which leaves "a faster growth business, which is very focused and which we think will give us a tremendous return on management." He added; "We operate in a huge market where there is $80 billion of opportunity between the U.S. and globally, so we think the appreciation for our shareholders will be much stronger." With its consistent cash surplus, ADP will continue its buybacks and dividend increases, said Butler and when Cramer asked if ADP would go private, Butler said he would prefer to return value to shareholders rather than to private equity firms; "When you have a company that grew EPS 25% last year and will be over 20% this year ... and you can continue to grow the share price, I think we can deliver more long-term value by staying the course," Butler said.

Related: Daniel Andres Jacome comments on ADP's strong cash flow.

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Source: Jim Cramer's Mad Money In-Depth Stock Picks, 6/8/07