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Lightning Round: Wachovia, Crocs, Ford and More

Merrill Lynch : Merrill’s up $5 Tuesday, so Cramer won’t recommend it. He said Goldman Sachs is a better pick. Even up $24, GS is still cheaper.

Fluor :Foster-Wheeler’s a cheaper and better buy.

Penn National Games : Don’t buy.

Omnicare : Cramer said he needs to know why OCR dropped so much before he’ll make a call.

MBIA : Stick with “quality financials,” Cramer said. Goldman Sachs and Hudson City Bancorp are his picks.

Flotek :FMC Technologies trumps Flotek. Go with FTI instead.

Ford : “Own the Ford preferred,” Cramer said, and not the common stock. The same goes for General Motors .

GlaxoSmithKline : The stock’s worth owning for the dividend, but Cramer prefers Schering-Plough .

US Bancorp : US Bancorp and Wells Fargo could be next in line after JPMorgan Chase to buy out the next bank, like Bear Stearns , that goes under, Cramer said. USB’s a buy.

Research In Motion : RIMM’s having a great quarter, Cramer said, and he’s not backing away from it. He likes Apple , too.

DryShips : Cramer said he prefers rival Frontline’s dividend to DryShips.

Cornell Companies : After losing a big contract last week, Cornell’s a don’t buy.

Crocs : “I’m not a Crocs believer.” Don’t buy CROX.

Southern Copper :Freeport-McMoRan is better. Go with that instead.

Wachovia : Don’t buy, Cramer said. There are very few bank stocks he’ll recommend right now.

Jim's charitable trust owns Foster Wheeler, Freeport-McMoRan, Goldman Sachs, Schering-Plough.

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