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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday May 12. Click on a stock ticker for more analysis.

Emerson (NYSE:EMR)

On its 4 cents per share earnings beat and raised guidance, EMR' s stock jumped to $56 last week, but Cramer thinks the stock should be $60. The stock has gained 19% since Cramer's initial recommendation, and 52% of its revenue is from overseas with 30% from emerging markets. Cramer also likes the fact that all of the company's divisions were up from 15 to 20%, and EMR has $2.4 billion of cash which may be used to buy back stock. EMR has raised its dividend for 51 years in a row and trades at just 16 times 2009 earnings. Cramer is amazed at what EMR has accomplished in a difficult economy and commented, "Emerson makes money in good times, and in bad."

Know Your IPO Colfax (NYSE:CFX)

CFX, which went public last week, is a pure-play in fluid management and while sounding ordinary, has great diversification and provides products to many thriving industries. An impressive 76% of revenues are earned overseas, and the IPO initially sold at $18, rose to $24 and tapered off. Cramer would wait a week before buying and would not pay more than $21 for CFX.

Owens Corning (NYSE:OC)

Cramer's third "new tech" play for Monday isn't just about home construction anymore, but also plays a valuable role in wind power. OC has been famous for its Pink Panther home insulation which saves energy and has not been hurt by the sluggish housing industry. The company recently reported a strong quarter and has increased its revenue from overseas from 12% to 40%. OC also produces materials for turbines that produce wind power, which is predicted to be 20% of the nation's energy source by 2020.

Mad Mail: Allergan (NYSE:AGN), Harley Davidson (NYSE:HOG), Frontline (NYSE:FRO), Nordic American (NYSE:NAT), Foster Wheeler (NASDAQ:FWLT), Fluor (NYSE:FLR)

Cramer told one viewer he still likes Allergan and another that he would rather drive than own Harley Davidson. Frontline and NAT are Cramer's top shipping names and he would not sell FWLT after strong earnings from FLR.

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Source: Facts on Colfax - Cramer's Mad Money (5/12/08)