Jim Cramer's Mad Money In-Depth Stock Picks 8/28/07

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Includes: IGT, ONXX, WYNN
by: Miriam Metzinger

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday August 28. Click on a stock ticker for more analysis:

Lose Wynn Situation: Wynn Resorts (NASDAQ:WYNN)

Cramer searched for a new bull market after the Tuesday's 280 point drop which broke the unwritten rule that there should be no big selloffs the last week in August. He identified casinos as "cash machines" and said his favorite is Wynn Resorts, which he prefers to Las Vegas Sands, although the latter company is opening a new casino in Macau, the Chinese city which is "a better version of Vegas." Cramer said Wynn's conference call was one of the best in of the quarter, and he likes its lack of exposure to subprime and aggressive buybacks. In addition, it has a "win-win Situation" with 15% growth year over year. He would buy it as it goes down.

Related: Mark Hines comments on WYNN's growth potential.

International Gaming Technology (NYSE:IGT)

IGT, a supplier of gaming equipment for casinos, is down 23% from its high and is "on sale." In addition, IGT has 9% growth year over year, has a $50 million buyback and is a good long-term investment which Cramer suggests holding at least until 2008. He recommends waiting a minimum of 5 days before buying.

Related: Daniel Jones makes the case for International Game Technology.

American Woodmark (NASDAQ:AMWD)

Although AMWD would seem to be a no-go area because, as a cabinet maker, it is exposed to housing, Cramer likes the company which sells 60% of its products at Lowes and Home Depot, because it is buying back 25% of its stock. Although it is down 38%, AMWD recently increased its dividend, a move which shows confidence. Since this stock is not going up anytime soon, due to the troubled housing sector, Cramer would wait at least 5 days before buying.

Interview with the Chairman and President of Onyx Pharmaceuticals (NASDAQ:ONXX), Hollings Renton

Cramer says ONXX's Nexavar drug will be "the next unbelievable blockbuster." Renton and agreed, and said that while the drug was still in its trial phase, it shows promise as a powerful treatment for liver cancer. He also commented ONXX's sales were at $80 million in the second quarter. Cramer predicts Nexavar will be "the best cancer story ever told" and thinks a company like Bayer will take it over. Cramer would buy the stock once it drops in price.

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