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Lightning Round: Yum!, Apache, Reliance Steel and More

Tuesday’s decline in shipping stocks was a result of China trying to play hardball and win itself better rates, Cramer said before he started the Lightning Round. Regardless, he’s still bullish, calling the decline a “classic buying opportunity.” What’s really driving these stocks, he said, is a scarcity of ships, and those can’t be produced overnight.

Oceaneering Intl : “Terrific,” Cramer said. He also likes FMC and Core Labs in this group.

Concho Resources : Apache and XTO Energy are better picks, Cramer said.

Axsys Tech : “I like Ciena more.” Cramer recommended switching out of AXYS to Ciena .

Schnitzer Steel : Cramer would rather see homegamers in Reliance Steel, AK Steel or U.S. Steel.

Jim’s charitable trust owns XTO Energy.

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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