Lightning Round: 3M, Wyeth, Lockheed Martin and More

Continental Resources : The stock is down big, but Cramer thinks CLR might be at its bottom. “This is where to pull the trigger.”

Computer Sciences : Sell, sell, sell, Cramer said.

Annaly : Cramer won’t recommend a company that needs to borrow money to do business in this environment. Don’t buy, he said.

Northrop Grumman : “You can’t own the defense stocks right now,” Cramer said. If the polls are right and Barack Obama wins the presidency, that doesn’t bode well for this sector. If investors have to have a defense play, Cramer said to go with Lockheed Martin instead. That stock is down $8 and it has a better dividend.

Allegheny Energy :Duke Energy offers a better dividend yield, Cramer said. Buy DUK instead.

3M : Cramer said to wait on 3M until the dividend yield reaches 5%. It’s at 3.6% now, and with the stock declining so quickly, investors might not have long to wait.

Nustar Energy : NS has exposure to crude oil and right now Cramer’s focused on natural gas. He said to go with Kinder Morgan Energy Partners instead.

Wyeth : Cramer said he couldn’t recommend a big pharma stock unless it yields about 5%.

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    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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