Quanta Services (NYSE:PWR)
In a volatile economic climate "we need Quanta," said Cramer, noting this mid-cap's smart move of acquiring its competitor, Infrasource Services. The merger will give Quanta more negotiating power as well as a cost savings of $20 million. Currently, infrastructure is a "bull market that is still holding up" and Quanta, which erects traffic lights and cell phone towers, is a play on "the nation's dismal power grid." In addition, Quanta should gain visibility with its "big and juicy backlog," will pick itself up even if it gets knocked around, and should attract the attention of analysts, said Cramer. While he recommends doing research and investing next week, he gave the green light for enthusiastic investors to buy today.
Cramer says it is time once again to buy Aecom, since, following a nice rise, it is 9 points down from its 52-week high. Solvent customers are hard to find, and ACM has the most stable client of all: the government. Aecom's main competitor, Washington Group International, is being taken private, and the company has two major projects: the PATH station at the World Trade Center site and the Second Avenue rail system in New York City.
CEO Interview, Rick Rosenfield, co-CEO and cofounder of California Pizza Kitchen (NASDAQ:CPKI)
When Cramer asked about the company's slowing growth, Rosenfield responded; "We are looking for quality. It isn't growth for growth's sake, because we care about our brand." He added the company hasn't been given sufficient credit for "moving with the sector" and prevailing over cost pressures. CPKI is insulated by its royalty stream. Cramer remarked CPKI is a "quality-run operation" and may not be suffering quite so much down the line.
While those who work at private equity firms are geniuses, Cramer does not think the stocks are smart investments and would sell BX and FIG.
Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and his Wall Street Confidential Picks.
Get Cramer's Picks by e-mail -- it's free and takes only a few seconds to sign up.
Seeking Alpha is not affiliated with Jim Cramer, CNBC or TheStreet.com