Jim Cramer's Mad Money In-Depth Stock Picks, March 6.

Includes: BP, COT, PKG, RVBD, WFC
by: Miriam Metzinger

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday March 6. Click on a stock ticker for more analysis:

Through the Grapevine: Wells Fargo (NYSE:WFC), MBIA (NYSE:MBI) and CIT Group (NYSE:CIT)

Cramer concedes when things get ugly "it's the rumors that drive the market." Wall Street gossip about the so-called reckless subprime lending of WFC, MBI and CIT was unjust, according to Cramer; "If you missed today's rally, I want you to know who kept you away," he said. When a good stock gets a bad name, it is a sign of the end of a bear raid and he adds financials are bottoming. Cramer is giving WFC the "benefit of the doubt" and does not see any justification in attacking MBI and CIT. He noted these stocks now have a good entry point.

Related: Herb Greenberg feels he was misled by MBIA.

Rubble Stock: General Cable (NYSE:BGC)

Cramer is devoting a daily segment to picking up good stocks from the rubble. Although BGC has just gone up, "it's pulled back enough to be a triple buy," reported a "phenomenal quarter" last month with good guidance, and has orders still outstanding from the blackout in New York City four years ago. BGC is also a supplier for triple play and has moderate raw costs, which will mean solid gross margins. Cramer would buy the stock now, but for the cautious, he suggests picking up some now and buying the rest on any weakness.

The 4% Club: Packaging Corp. of America (NYSE:PKG) and BP (NYSE:BP)

While most investors search for stocks which have upside potential, Cramer says it is also important to find protection against an unexpected downside. "Tonight I'm going to initiate a couple of stocks into the 4% yield club:" BP, his favorite, and PKG. Cramer notes PKG has low margins, should attract private equity interest, benefits from reduced energy costs and has a 4% yield. BP has a 4.1% yield, is the cheapest in its group and is now adopting an "underpromise, overdeliver" strategy.

Related: Kurt Wulff discusses the mid-2007 departure of Lord Brown from BP.

CEO Interview: Jerry Kennelly, Riverbed Technology (NASDAQ:RVBD)

Jerry Kennelly said RVBD produced a profit for the first time and "blew away the revenue guidance." When Cramer asked about the lockup expiration set for March 19, Kennelly responded, "It's no longer 59 million," he said. "Half the shares got pushed out to early May, and the half that will expire are a good portion owned by insiders." He added that since March 19 is a blackout trading period, he doesn't think RVBD will get hit. Cramer commented "It's time to buy Riverbed."

Related: Joseph McNay, the "godfather of growth-stock investing" says RVBD should grow regardless of economic conditions.

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