Jim Cramer's Mad Money In-Depth, 10/22/07: Google on the Cheap

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday October 22. Click on a stock ticker for more analysis:

Dow Down: Google (GOOG), Intuitive Surgical (ISRG)

After a 365 point drop in the Dow, Cramer would look for inexpensive stocks that don’t need to recover. Even at $650, Google is cheap and did not rise after its “awe-inspiring” earnings report during which it reported 57.3% revenue growth. This rest-of-the world stock is immune to subprime woes and is making a bundle with YouTube, said Cramer. He would buy the stock ahead of its analyst meeting on Wednesday, because it is possible analysts will raise estimates. ISRG was another stock that did not rise sufficiently after its positive earnings report. “I have liked this stock from day one” said Cramer, but the company has not risen because people do not understand its business, which is to create technologies that make surgery less invasive. The company is just beginning to grow and it sells disposable devices which will always be in demand. Cramer said the company’s growth potential makes its $285 price tag a mere illusion, and he predicts ISRG will reach $358.

Related: Bespoke Investment Group reports ISRG's earnings party continues.

CEO Interview: Fred Hassan, Schering-Plough (SGP)

Although SGP’s stock got hammered because of its sluggish cholesterol division, Cramer sees the decline as a buying opportunity, since SGP has Phase III treatments for prostrate cancer and female infertility. "Today is no different than yesterday, and this is what I call the no-guidance effect," Fred Hassan explained. "Having a no-guidance policy, there are some quarters where there is an undershoot and some quarters when there is an overshoot." Fred Hassan said SGP has a strong long-term story and should benefit from its purchase of Organon Biosciences. Cramer said he is still bullish on SGP and called Hassan a “moneymaker.”

Related: Steve Towns reports although SGP's Q3 net doubled, it fell short of estimates.

CEO Interview: Gerry Wang, Seaspan (SSW)

Gerry Wang said he feels “very good” about Seaspan’s growth potential and pointed out the container shipping industry has grown over 10% in the last 10 years. The company’s fixed rate provides protection against unstable market rates. Although Cramer prefers dry bulk shipping, he commented “Wang has a good one in Seaspan.”

Related: Last week Cramer discussed his bullishness on dry bulk shipping.

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