Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday November 14.Click on a stock ticker for more analysis:
KBR and Halliburton (NYSE:HAL)
Cramer dedicated Tuesday's show to discussing IPOs, and began with Halliburton's engineering and construction unit, Kellogg, Brown and Root which is a "sickeningly cheap" IPO because of the "political baggage" connected with its contracts in Iraq. However, the company already has $15 billion worth of projects in the pipeline and won't be hurt by politics, he said. Cramer notes that the IPO is "vastly oversubscribed" and investors should get into the stock through Halliburton, which has the lowest multiple of any other oil, rather than waiting for the delayed IPO. He believes that both will go up once KBR goes public.
Related: Judith Levy discusses concerns over Halliburton's IPO, KBR
"The big Mack Daddy IPO of this week is the New York Mercantile Exchange," Cramer commented, noting that Nymex increased the size of the IPO due to high demand. He thinks that Nymex will be "fantastic" and says that there is a a quiet bull market in various exchanges, including NYSE which Cramer predicts will go to at least $200 from $90, ISE, which is up %150 since it went public in 2005, and CME, which has increased 1,300 in four years. Even if Nymex is 25 points higher than the initial price, Cramer would buy it, and if it is at 15, he would grab double. However, Cramer urged investors not to pick up an entire position at once and to use limit orders when buying.
Related: Eli Hoffmann discusses CME's rising profits.
Hertz, Sealy (ZZ), Ford (NYSE:F)
Cramer tells viewers not to touch Hertz, which he compares to Sealy, one of his "worst picks." Hertz's debt piled up and its net income fell after Ford sold it to private equity firms, and he says that 60 % of the $1.6 billion raised for the IPO will be used to cover the loan taken out to pay for a special dividend. Cramer adds that, in any case, the car rental business is "not so great."
CEO Interview: Gary Henley of Wright Medical (NASDAQ:WMGI)
Cramer asked Gary Henley why analysts are concerned about WMGI's stock and he responded, "I don't know, you're going to have to ask them. I thought it was a pretty good quarter." He added that he expects the company to do well since it's guidance for 2007 is 9% to 11% and the market is only growing at 8%. When Cramer asked him about possible impact of the Democratic Congress on his company, Henley said he preferred not to comment on political issues. "We're focused on our products and our market, and we're feeling pretty good about that," said Gary. Cramer agreed and gave WMGI a "triple buy" since it is down and had good prospects.
Final Note: On Pharma with GlaxoSmithKline (NYSE:GSK)
Cramer noted that there is a rally in the drug sector and would invest. He likes GSK because it is "the cheapest with the highest yield."
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