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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program,Wednesday April 9. Click on a stock ticker for more analysis.

CTC Media (NASDAQ:CTCM)

The television industry in Russia is where the U.S. industry was 40 years ago, and Cramer sees substantial growth opportunity in CTC, the fourth largest Russian broadcaster with 32 stations reaching 11.8% of the Russian viewing public. In spite of its 30% long-term growth rate, the stock trades at a mere 18 times projected earnings. Cramer says CTCM is a great way to play the “capitalist revolution” in the former Soviet Bloc.

Schering-Plough (SGP), Merck (NYSE:MRK)

Although Cramer was bitten by SGP last week, he is not shy about Merck, SGP’s partner in developing the much-criticized anti-cholesterol drug Vytorin. The stock is down 25% because of a drug that comprises only 15% of sales; “Merck’s been beaten down too much,” said Cramer, who believes the controversy over the drug will be a mere “speed bump” for a company he boldly calls the number one stock in the Dow. He thinks as a pharma, MRK is a good stock to own in a slow economy and likes its 3.7% dividend. The company expects $4.6 billion in sales and has earmarked $5.1 billion to buyback stock. Cramer sees an upside in the near future and says soon we will be wondering how Merck could have sold for a mere $41.

CEO Interview: Chattem (CHTT)

With the Icy Hot recall scandal behind it, CHTT announced better than expected profits, thanks to strong performance from other brands such as ACT mouthwash and Gold Bond. Upcoming products, such as a melt-in-your-mouth sleep tablet and an all-natural dandruff shampoo should mean bigger profits for CHTT in the future. In addition, CHTT has strong cash flow and Guerry plans to use $100 million to make acquisitions. Cramer noted the stock is down today and he would buy CHTT.

Mad Mail: LSB Industries (NYSE:LXU), Con Edison (NYSE:ED), CPL (NYSE:CPL), Sunrise Senior Living (SRZ), First Solar (NASDAQ:FSLR)

While accounting irregularities usually mean a stock should be sold, Cramer says he likes LXU’s core business. He thinks a negative Wells Fargo notice is already priced into the stock. A 20-year old investor wrote to Cramer and asked which utility company she should invest in. While Cramer likes ED for its strong yield, he said she was young enough to take a risk and recommended Brazilian utility CPL. Cramer told another e-mailer that in spite of the graying of baby boomers, senior living company SRZ is doing poorly because of accounting irregularities. He recommended FSLR to another viewer, because he believes governments are going to realize that solar power is necessary. Finally, Cramer said he doesn’t think there will be a bottom in housing until 2009.

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Source: Jim Cramer's Mad Money In-Depth, 4/9/09: Merck: Darling of the Dow