Cramer’s found more investment ideas on the front page of the New York Times than he ever did on the business pages, he said. Just take a look at the paper of record today: “Supplier Under Scrutiny on Aging Arms for Afghan.” Turns out some 22-year-old’s company won an almost $300 million contract to supply ammunition to Afghani forces fighting the Taliban and al-Qaeda – and that ammunition was more than 40 years old.

This should push the U.S. government back to dealing with tried and true firms like Alliant Tech

ATK loading...

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[ATK  Loading...      ()   ], Cramer said. Not to mention, we now know there’s a good chance troop levels will stay the same through 2008, so soldiers will continue to need fresh supplies, possibly from ATK.

Ammunition makes up 35% of the company’s sales, but Alliant also makes mission and launch systems. Business has been good: Last quarter, earnings per share were 6 cents ahead of estimates, while revenue growth clocked in at 17%. And the trend should continue with the early January addition of MacDonald Dettwiler and its global space business, a kind of one-stop shop for NASA complete with top-secret robotics, ground systems and radar.

The fundamentals are here, too. The stock’s cheap, the buyback’s big, and now there’s a potential catalyst. It might be time to lock and load up on ATK.    

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